Ceasefire Lifts Markets | Tariff Tensions & Trump’s Deadline | Govindraj Ethiraj | The Core Report

On Episode 616 of The Core Report, financial journalist Govindraj Ethiraj talks to Vikas Jain, Co-founder and Chief Investment Officer at Multipl.
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SHOW NOTES
(00:00) Top Stories Today
(00:50) Markets rise again on Israel-Iran ceasefire
(01:45) Crude oil prices remain low
(02:54) Mutual fund investors diversify amid record SIP inflows
(14:11) 1 in 4 Indians rely solely on mobile for media

The Markets Are Staying Another Day:

Markets rose again, buoyed by the Israel-Iran ceasefire. But tariff tensions persist. Trump faces a self-imposed July 4 deadline for his tax and spending bill, and the global tariff pause ends July 9—raising economic concerns, per Bloomberg.

In India, markets posted strong gains for the second straight day. Sensex jumped 700 points to 82,755; Nifty 50 rose 200 points to 25,244. Reliance Industries led the rally. Broader indices also gained—Mid-cap up 0.4%, Small-cap up 1.5%.

Crude oil prices slipped to under $68/barrel. The rupee fell 12 paise to 86.09/$, after posting its best session of the year at 85.97/$ on Tuesday, according to Bloomberg.

Globally, the British pound held at $1.36, its highest in 3+ years—up 8.7% against the USD in 2025 YTD (CNBC). Gold steadied at $3,325/oz after easing on better risk appetite post-truce.

Sustained Mutual Fund Investments:

Strong domestic inflows continue to support markets. FIIs have returned in phases, but Indian investors—especially via SIPs—are providing stability.

May saw record SIP inflows of ₹26,688 crore—10th month over ₹20,000 crore—spanning nearly 85 million accounts. Mutual fund AUM rose to ₹72 lakh crore from ₹70 lakh crore in April.

Equity mutual fund AUM is now over 31% of bank deposits—up from just 13% a decade ago—reflecting rising risk appetite and diversification by Indian households.

Investor interest is growing in hybrid, arbitrage, equity savings, and balanced advantage categories—signaling maturing retail behavior.

Vikas Jain, Co-founder & CIO of SEBI-registered fintech platform Multipl, notes that Indian investors are increasingly proactive, seeking long-term, diversified wealth strategies within the MF ecosystem.

The Phone Is the TV:

A new trend is reshaping media consumption. About 23% of Indians now use only mobile phones for media, up from 15% in 2023, says Kantar Media’s Q1 2025 Compass report (via Bloomberg).

Driven by affordability issues—TV sets and OTTs remain expensive—the shift is pronounced among rural, lower-income men. Mobile phones and media docks now dominate content access.

India’s Back in Space:

41 years after Rakesh Sharma’s historic flight, India’s Subhanshu Shukla has launched to the ISS on Axiom Space’s private mission.

Joined by NASA veteran Peggy Whitson and astronauts from Poland and Hungary, the team lifted off from Kennedy Space Center aboard SpaceX’s Crew Dragon.

After a 28-hour journey, the capsule will dock at the ISS, 400 km above Earth. The astronauts will spend 14 days conducting microgravity research.

Shukla’s mission is seen as a key step toward India’s own crewed spaceflight—Gaganyaan, scheduled for 2027, according to Reuters.

For more on markets, mutual funds, SIPs, tariff tensions, and expert insights from Govindraj Ethiraj and Vikas Jain, subscribe to The Core Report. Don’t miss deep dives into finance, investing, and macro trends. New podcast episodes daily. Watch now to stay informed.

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