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Asia
The Hindu BusinessLine

Nifty and Nifty Bank Prediction for the week 20 Jul '26 to 24 Jul '26 by BL GURU

Nifty has managed to sustain itself very well above 24,000 all through last week. The strong rise on Friday indicates that the Nifty 50 is gaining momentum. Overall, our bullish view remains intact. We expect the Nifty to break its immediate resistance and go higher in the coming weeks. The Nifty Bank index, on the other hand, continues to remain in a range. It can make a bullish breakout of its range and rise going forward. Nifty is likely to break its 24,400-24,500 resistance and rise to 24,800 or 24,950. The nifty bank index is likely to make a bullish breakout above 58,900 and rise to 60,500-61,500. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Nifty and Nifty Bank Prediction for the week 20 Jul '26 to 24 Jul '26 by BL GURU
North America
CNBC Finance

Netflix, Disney and YouTube interested in FIFA World Cup U.S. rights; package could reach $2 billion

As the FIFA World Cup captures massive global audiences, media companies are preparing to pay billions for the rights to the next two men's tournaments. Netflix, Disney and Alphabet's YouTube are all interested in challenging Fox for the U.S. broadcast rights to the 2030 and 2034 World Cup, according to people familiar with the matter. Amazon, which currently owns UEFA Champions League rights in the U.K., and Apple, which owns global MLS rights, could also enter the mix, further fueling a potential bidding war for the rights. Discussions between FIFA and potential media partners are expected to begin sometime in the next three months, according to people familiar with the matter, who asked not to be named because the talks are private. FIFA has alerted media companies during preliminary talks, which began earlier this year, that English- and Spanish-language U.S. rights are likely to be sold together, rather than separately as they have been for previous World Cups, including 2026, according to the people. Fox paid $485 million for the English-language rights for this year's tournament, hosted across North American cities, according to The Athletic. NBCUniversal's Telemundo paid $600 million for the Spanish-language rights, according to people familiar with the matter. Executives at various media companies are budgeting between $1.5 billion and $2 billion for the U.S. rights to each tournament across languages, said the people. The last time FIFA negotiated a deal, with Fox and Telemundo, was in 2011. Four years later, FIFA extended that deal through 2026. FIFA won't sell global rights to the tournament, because different countries have regulations that mandate the World Cup must be sold over the air. But U.S. rights will be coveted, with major viewership and advertising opportunities. Netflix, Disney and YouTube all view the World Cup as a potential major boost for their streaming services, according to the people familiar. Disney could also air games on ESPN and ABC, which could be appealing to FIFA as the broadcast on Fox has seen strong ratings this year. FIFA has already shown interest in Netflix by awarding it the Women's World Cup in 2027 and 2031. Selling the English- and Spanish-language rights as a single package could help FIFA garner a higher price, driving up bids from eager media partners looking for big ratings. The combined TV audiences for U.S. games in recent weeks have rivaled NFL playoff games. Packaging the language rights could also help eliminate some tensions between rival media companies airing the same games.

Netflix, Disney and YouTube interested in FIFA World Cup U.S. rights; package could reach $2 billion
Asia
The Economic Times

HDFC Bank, RIL, and Eternal among top 10 stock holdings of HDFC Mutual Fund in June

HDFC Mutual Fund, the third largest fund house based on assets managed, had an AUM of Rs 9.63 lakh crore as of June 2026. Here are the top 10 stock holdings, according to a report by Motilal Oswal Financial Services. The fund house had the highest holding in ICICI Bank, HDFC Bank and Axis Bank of around 5.9%, 5.4% and 3.4% respectively. Around 22.12 lakh shares of ICICI Bank, 13.54 lakh shares of HDFC Bank and 20.65 lakh shares of Axis Bank were sold out from the portfolio. The weight of ICICI Bank and HDFC Bank increased by 0.3% and 0.2% respectively, whereas that of Axis Bank remained unchanged. The fund house had an allocation of 2.9% in Reliance Industries leading to a decline in weight by 0.1% compared to previous month. The fund house had an allocation of 2.7% in SBI. Around 5.18 lakh shares of SBI were sold out from the portfolio leading to an increase in weight by 0.1% compared to the previous month. The fund house had an allocation of 2.6%, 2.3% and 2% in Bharti Airtel, Kotak Mahindra Bank and L&T respectively leading to decline in weight by 0.1% each compared to the previous month. The fund house had an allocation of 1.8% and 1.7% in Eternal and Maruti Suzuki respectively in June. Around 1.99 crore shares of Eternal were added to the portfolio leading to increase in weight by 0.1% whereas 1 lakh shares of Maruti Suzuki were sold out from the portfolio leading to no change in weight.

HDFC Bank, RIL, and Eternal among top 10 stock holdings of HDFC Mutual Fund in June
Europe
The Guardian

New York City becomes first in the US to ban deceptive subscription practices

Zohran Mamdani stands next to Sam Levine, commissioner of consumer and worker protection, at a press conference in New York on 21 January 2026. Photograph: Anthony Behar/Sipa US via AlamyView image in fullscreenZohran Mamdani stands next to Sam Levine, commissioner of consumer and worker protection, at a press conference in New York on 21 January 2026. Photograph: Anthony Behar/Sipa US via AlamyConsumedNew YorkNew York City becomes first in the US to ban deceptive subscription practicesRule from Mamdani administration bans companies from trapping customers into paying recurring charges and ‘junk fees’ New York City has adopted a new rule that bans companies from using deceptive subscriptions to trap customers into paying for gym memberships, streaming services and other recurring charges, the city’s consumer protection office said. The new rule, which will start on 1 October, promises hefty fines and aggressive enforcement for violators. Companies that do not provide a simple way to cancel could pay $525 per user subscription, back fees and additional fines. The city is also targeting so-called “junk fees” that raise the final price of everything from apartments to sporting events, with a proposed rule that requires sellers to “advertise the total price for any good or service, including all mandatory additional charges and fees, up front”, according to a release shared with the Guardian. “People shouldn’t have to wait on hold for half an hour or send a certified letter or show up to a store in person in order to cancel” a subscription, said Samuel AA Levine, the city’s commissioner of consumer and worker protection, in an interview. The proposed fee rule could have an especially wide effect, sending ripples through New York’s expensive housing market, where about 70% of residents rent. Apartment renters in the US face a rising tide of add-on fees such as “boiler management” and “lifestyle” charges from management companies, which make true rental costs hundreds of dollars higher than the price stated on real-estate company websites. If the proposed renters rule passes after public comment and hearing, any mandatory fees, including annual ones, would need to be included in the stated monthly rental price, Levine said. The current situation creates “a scenario where rather than competing on price, companies are competing on their ability to hide the true price. That’s the worst kind of incentive” – and one that deeply distorts the market, Levine said. The moves are part of an aggressive push by Zohran Mamdani and Levine, a former head of consumer protection in the Federal Trade Commission (FTC), to rein in what they see as predatory corporate malpractice nationwide. “In the dawn of the [Ronald] Reagan era, the FTC and others in Washington said expressly that … markets could correct themselves, regulate themselves, they were going to stop writing rules,” and allow companies to police their own behavior, Levine said. “What it has gotten us is 40 years of deceptive pricing,” he said. Bans on junk fees and subscription traps are generally popular with consumers, but have been fought aggressively by industry groups. When the Biden administration introduced a junk fee rule in 2024, the US Chamber of Commerce argued it was “an attempt to micromanage businesses’ pricing structures”, and apartment fees were cut from that federal rule after lobbying by the real-estate industry.

New York City becomes first in the US to ban deceptive subscription practices
Asia
The Economic Times

Lenskart and Meesho among 5 midcap stocks bought by mutual funds in June

Midcaps led the majority of inflows for Chemicals, Consumer Discretionary, IT, Insurance and logistics. Here are the top five midcap stocks that were bought by mutual funds in June, according to a report by Dolat Capital. JSW Infrastructure was bought by mutual funds in June. The total net buy value was Rs 3,603 crore. Meesho was bought by mutual funds in June. The total net buy value was Rs 2,151 crore. NHPC, a power sector stock, was bought by mutual funds in June. The total net buy value was Rs 1,749 crore. Lenskart, a consumer discretionary sector stock, was bought by mutual funds in June. The total net buy value was Rs 1,555 crore. Ajanta Pharma, a healthcare sector stock, was bought by mutual funds in June. The total net buy value was Rs 1,039 crore.

Lenskart and Meesho among 5 midcap stocks bought by mutual funds in June
Europe
The Guardian

Democratic Texas AG candidate claims $110m in grants for Elon Musk’s Starlink ‘sure looks’ like corruption

Nathan Johnson, who is running for the Texas attorney general seat, on 3 September 2025 in Austin, Texas. Photograph: Eric Gay/APView image in fullscreenNathan Johnson, who is running for the Texas attorney general seat, on 3 September 2025 in Austin, Texas. Photograph: Eric Gay/APTexasDemocratic Texas AG candidate claims $110m in grants for Elon Musk’s Starlink ‘sure looks’ like corruptionNathan Johnson says if elected he’ll investigate state’s deal with Elon Musk’s SpaceX to provide rural internet A Texas Democrat running to become the state’s attorney general has said he will investigate Elon Musk’s SpaceX company if elected, saying it “sure looks like” corruption was involved in a deal he said handed the world’s richest person $110m of taxpayers’ money. Nathan Johnson made the comment in an interview with the Dallas News on Friday, in which he called for greater legislative scrutiny of state grants funneled to SpaceX for its Starlink satellite program, which provides fast internet access for customers in remote areas. Johnson, who won the Democratic primary runoff for attorney general in May, said the award by Texas Republicans of 99% of the available grant funds to a company led by billionaire Musk, a Donald Trump ally, was lopsided. “I am not declaring that corruption was at work in this instance. I am saying that it sure looks like it,” Johnson, a state senator, told the Dallas News. “Public confidence in the bidding process has been undermined.” During his primary campaign, Johnson promised to overhaul the office of the Texas attorney general, a position currently held by Ken Paxton, the scandal-ridden hardline Republican recently nominated by his party to run for the US Senate in November’s midterms. He has said he will work closely with the state comptroller to audit how government contracts are awarded. The Starlink grants, signed off by the Republican Texas governor, Greg Abbott, after his office reportedly revised rules to favor low-Earth-orbit satellite providers in bids to provide rural internet access, have become a particular source of controversy. Records show Musk has made previous monetary donations to Abbott, among many others, but there is no suggestion it is linked to the grants. Johnson questioned members of the Texas broadband development office (BDO) at a hearing of the state senate’s business and commerce committee in June, at which they conceded changes to the grant-awarding process came at Abbott’s behest. “The office of the governor asked us to look at how our proposed structure compared to other states,” Bryant Clayton, director of the BDO, said, according to KUT News. “Generally … we were out of step with other nearby states.” Eight companies offering ground-based fiber broadband complained in a letter they appeared to have been cut out of the revised grant application process, a development the committee’s chair, Republican Charles Schwertner, seemed to acknowledge.

Democratic Texas AG candidate claims $110m in grants for Elon Musk’s Starlink ‘sure looks’ like corruption
North America
CNBC Finance

Rivian stock falls 18% as company sells 75 million shares to raise capital

Rivian Automotive stock plunged 18% Tuesday after the electric vehicle maker announced a public offering of 75 million shares of its Class A common stock. Tuesday's stock move was its worst since 2024 and its fifth worst day on record. The capital raise occurred during extended hours trading after Rivian shares rose 8.1% on Monday. The stock also increased 19% last week. Based on Monday's close of $20.14 per share, Rivian would raise roughly $1.51 billion with the offering. Rivian ​said in a filing that it plans to use the proceeds ​to fund equity contributions as part of a loan ⁠agreement with the U.S. Department of Energy. Rivian said in the public filing that it intended to grant underwriters an option for a period of 30 days to purchase up to an additional 11.25 million shares. The raise follows Rivian suspending plans for a 2027 profitability target due to an expected spike in research and development spending for autonomy and next-generation vehicle technologies. It also comes as Rivian is launching its new R2 midsize SUV, which the company hopes will lead it to profitability toward the end of this decade. Rivian also pre-released some second-quarter results in a separate public filing. The company estimated revenue to be between $1.55 billion and $1.65 billion during the second quarter, above average analyst estimates compiled by LSEG of $1.45 billion. Its cash, cash equivalents and short-term investments balance was an estimated $5.3 billion, up from $4.8 billion to end the first quarter, according to the filing. Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Rivian stock falls 18% as company sells 75 million shares to raise capital
Asia
The Hindu BusinessLine

West Asia crisis, uncertain monsoon major risks for growth: RBI Governor

Reserve Bank Governor Sanjay Malhotra has said the West Asia crisis and the expectation of a weak monsoon present significant risks to economic growth. "Despite global uncertainties, India has witnessed an over 7 per cent growth rate in the past few years. Last financial year, India clocked a growth rate of 7.7 per cent supported by strong and robust macroeconomic fundamentals," he said in an interview to DD News. The Reserve Bank of India (RBI) has projected a GDP growth of 6.6 per cent for the current financial year despite various challenges, he said. "Monetary and fiscal policies are robust, and because of that, we are witnessing high GDP growth," the governor added. On inflation, he said the central bank has raised its inflation forecast to 5.1 per cent for FY27, higher from its earlier estimate of 4.6 per cent. Inflation going past the Reserve Bank’s median target of 4 per cent in June was largely driven by supply-side factors, Malhotra noted. Retail inflation climbed to 4.38 per cent in June from 3.93 per cent in May, mainly due to costlier food items. The food inflation increased to 5.32 per cent in June from 4.78 per cent in the preceding month. Talking about another risk factor, Malhotra said that how the monsoon behaves is crucial, as a large population depends on the agriculture sector. Agriculture contributes about 17 per cent to the GDP, he said, adding that "we have to be vigilant about that (monsoon)." On the rupee depreciation, Malhotra said the domestic currency performance against peers remains stable despite a stronger dollar and heightened global uncertainty. "After the war in West Asia, the dollar has become strong. The currencies of many countries have weakened. If we look at it from a global perspective, India's rupee situation can be considered normal," he said.

West Asia crisis, uncertain monsoon major risks for growth: RBI Governor
Asia
The Hindu BusinessLine

Markets defy global gloom; crude tops $85

Benchmarks closed sharply higher on Friday, shrugging off weak global cues as buying in banking, IT, and financial heavyweights drove a broad-based rally. The gains came even as escalating conflict between the United States and Iran pushed Brent crude above $85 a barrel and gold wobbled near $4,000 an ounce, keeping inflation concerns alive globally. The Nifty 50 rose 1.09 per cent, or 262 points, to settle at 24,334, while the Sensex advanced 1.25 per cent to close at 78,151. For the week, the Nifty ended 0.53 per cent higher, having found consistent support near the 24,000 level, its 20-day moving average. IT was the standout sectoral winner of the week, surging 4.2 per cent, lifted by better-than-expected results from Tech Mahindra. Private banks also gained on expectations that an RBI special overseas deposit scheme could pull in around $30 billion from NRIs, bolstering forex reserves. Pharma, metals, and realty were the week’s laggards. Broader markets underperformed Friday’s rally, with the Nifty Midcap 100 and Smallcap 100 declining 0.41 per cent and 0.21 per cent respectively, reflecting selective profit-booking outside the index heavyweights. “Markets staged a strong advance on Friday and gained over a percent despite weak global cues...the Nifty closed near the day’s high,” said Ajit Mishra, SVP Research at Religare Broking. On the currency front, the rupee traded largely flat at 96.26 against the dollar, gaining just around 4 paise on the day. Elevated crude prices and cautious foreign fund flows continue to weigh on the domestic currency, with the technical range pegged at 96.00–96.55. In commodities, crude dominated the global narrative. Brent is on course for a weekly gain of over 10 per cent, with tanker traffic through the Strait of Hormuz at two-month lows after six consecutive nights of US strikes on Iranian military infrastructure. Tehran has reportedly asked Yemen’s Houthi faction to prepare to shut the Bab el-Mandeb strait if Iranian infrastructure faces further strikes, raising the spectre of two simultaneous chokepoint closures. “With the ceasefire effectively in name only and escalation risk building on both fronts, the geopolitical risk premium embedded in prices looks unlikely to unwind soon,” noted Kaynat Chainwala, AVP Commodity Research at Kotak Securities. Gold, meanwhile, clawed back above $4,000 per ounce but remains down 3 per cent for the week. Silver is near its weakest since November 2025, off more than 10 per cent for the week. Fed commentary remained hawkish, with September rate hike odds on CME FedWatch rising to 53 per cent. Looking ahead, investor attention next week will be firmly on earnings. Results from Reliance Industries, HDFC Bank, ICICI Bank, Axis Bank, and Kotak Mahindra Bank over the weekend are expected to set the tone for the Financials sector and define the broader market direction early next week. Siddhartha Khemka of Motilal Oswal expects “a gradual uptrend” driven by the earnings season, though crude at elevated levels and rupee weakness remain key risks to watch. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Markets defy global gloom; crude tops $85