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Indian rupee drops to 96.63 against US dollar as Brent crude surges past $100, raising import costs and pressuring the currency.

An index that tracks these companies in the US is now down 11% from the record high levels that it had surged to in late-May, and has lost over $2 trillion in market capitalization.

Infosys reported its results on Thursday where it cut the upper end of its financial year 2027 revenue growth guidance by 50 basis points. The guidance now reads 1.5% to 3% in constant currency terms from 1.5% to 3.5% earlier. 

Gold prices dip as investors weigh surging crude oil, rising US Treasury yields, and Fed rate hike expectations.

In a statement issued on Thursday, the conglomerate said it is not evaluating any proposal to enter the airline business, dismissing recent media reports and market speculation.

IEX company’s earnings before interest, taxes, depreciation and amortization (EBITDA) increased 13.5% to ₹130.7 crore from ₹115.4 crore last year. Its EBITDA margins expanded to 83% from 81.4% in the year-ago period.

Asian stocks fell on tech sell-off, oil prices rose on West Asia conflict fears. Topix slid 1.33%, Nikkei tumbled 2.33%. Brent crude above $100. Gold fell 2%.

Looking ahead, Meesho said it plans to increase spending on new-user acquisition from the second quarter. It also said its flagship shopping event, the Meesho Mega Blockbuster Sale, will be held in Q3 this year, compared with Q2 last year.

Japan’s main inflation indicator rose for the first time in three months, up 1.6% in June. The BOJ is still expected to raise interest rates this year despite yen’s decline.

Q1 Results LIVE Updates: SBI Life, Shriram Finance Tata Consumer Products, NTPC, ACC, Atul, Bank of Baroda, Apar Industries, CG Power, CreditAccess Grameen, CONCOR, DCB Bank, Dalmia Bharat, Greenply Industries, Jindal Steel, Dr Lal Pathplabs, Kfin Tech, New India Assurance,…