Field Marshal Asim Munir's White House lunch with President Trump signals a complex geopolitical play involving the US, Pakistan, Iran, and India. Driven by strategic needs, Trump's embrace of Pakistan's army chief, despite democratic concerns, highlights Pakistan's potential role in a possible US-Iran conflict.
Indian market closed in the red for the second consecutive day in a row on Wednesday. The BSE Sensex fell more than 100 points while the Nifty50 managed to hold on to 24,800 levels.
Inflation in the UK saw a slight decrease in May. The Office of National Statistics reported a 3.4% rise in consumer prices. This figure is still above the Bank of England's 2% target. Air fares and transport costs decreased, but food prices increased. Economists anticipate the Bank of England to maintain its interest rate. Geopolitical uncertainty makes economic forecasting difficult.
Reports indicate Israel's Arrow missile interceptor stock is low. This warning comes amid conflict with Iran. Iran launched ballistic missiles at Israel. The US has sent Patriot and THAAD batteries to assist. Israeli jets struck targets in Tehran. Drones were intercepted over the Golan Heights. Evacuation flights from Cyprus have taken place. Tensions escalate with hard-line statements from both sides.
Indian Gen-Z and millennial investors are shifting from quick crypto profits to long-term wealth building, allocating 3-5% of their portfolios to digital assets like Bitcoin. Mudrex CEO Edul Patel notes a move towards systematic investment plans (SIPs) and a 'buy and hold' strategy, driven by better education and understanding of market dynamics.
Rohit Srivastava suggests the recent market rally from early April might be ending, entering a corrective phase influenced by geopolitics and the upcoming FOMC meeting. While domestic liquidity is positive, Nifty's struggle to surpass 24,980, especially closing below 24,840, could lead to a fall towards 24,200.
