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Indian equities experienced volatile trading before closing flat on expiry day. Several companies are in focus due to Q1 results: LIC reported a 5% profit increase, while BSE saw a 103% surge. Titan s profit grew by 34%, and Kalyan Jewellers by 49%. HPCL s profit jumped significantly by 1,128%.

The Dow and S&P 500 faced a slight dip. However, Nasdaq managed a record high close. Eli Lilly shares fell due to disappointing drug data. Trump plans to nominate Stephen Miran to the Federal Reserve. Christopher Waller is a top candidate for Fed chair. New tariffs from Trump raised import duties. Jobless claims saw a slight increase.

Oil prices experienced slight fluctuations in early Asian trading on Friday, poised for their most significant weekly losses since late June. Investor apprehension grew over the potential global economic repercussions of newly implemented tariffs. The market also reacted to OPEC+ s decision to ease output cuts and anticipation of a meeting between Presidents Putin and Trump, adding further pressure.

Gold futures surged to a new high following the U.S. imposition of tariffs on imported one-kilo gold bars, fueling safe-haven demand amid trade tensions. Spot gold is set for a second consecutive weekly gain, bolstered by tariff turmoil and expectations of U.S. interest rate cuts.

The dollar faced pressure, nearing a weekly decline as Trump s Fed nominee fueled expectations of a dovish replacement for Powell. Sterling held gains after a divided Bank of England rate cut. Meanwhile, the euro gained ground amid optimism surrounding potential U.S.-Russia talks, influencing currency markets as investors monitor geopolitical developments.

Donald Trump plans to nominate Stephen Miran to the Federal Reserve. Miran will fill a vacant seat temporarily. The White House is searching for a permanent Fed Board member. They are also looking for a new Fed chair to replace Jerome Powell. Miran has advocated for changes in the Fed s governance. His nomination requires Senate approval.

Japanese shares experienced a significant surge driven by positive earnings reports and anticipated tariff adjustments by the U.S. Meanwhile, other Asian markets faced declines following a Wall Street retreat. The rally in Japanese stocks was further fueled by gains in SoftBank and Sony, while U.S. stock futures indicated continued positive momentum.

TRU Realty, spearheaded by Sujay Kalele, is set to launch two premium housing projects in Mumbai s Santacruz-Andheri corridor, aiming for Rs 400 crore revenue by 2028. Launching in September 2025, the projects span 0.3 million sq. ft. with a Rs 250 crore investment. This move occurs amidst Mumbai s booming residential market, driven by rising incomes and limited land.

Delhi-based Star Imaging and Path Lab is launching its IPO on August 8, aiming to raise ₹69.47 crore through a fresh issue and offer for sale. The IPO, priced between ₹135-142 per share, will close on August 12, with listing expected on BSE SME on August 18.

The Knowledge Realty Trust REIT IPO, India s largest to date, saw overwhelming investor interest, subscribing 12.48 times. With the allotment finalized today, refunds for non-allottees will begin on August 13, and shares will be credited the same day. Listing is scheduled for August 18 on BSE and NSE.