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Why Indian Markets Are Surging Despite Global Chaos | Govindraj Ethiraj | The Core Report

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US President Trump is going after the Federal Reserve Chairman for not cutting interest rates. What lessons does this hold for India?

24:06

And another Chinese battery company promises even longer range for a 5 minute charge, beyond BYD’s claim last month

34:35

Why Indian Markets Are Surging Despite Global Chaos | Govindraj Ethiraj | The Core Report

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Apr 222025

On Episode 563 of The Core Report, financial journalist Govindraj Ethiraj talks to Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd as well as Ashok K Bhattacharya, Editorial Director and columnist at Business Standard. SHOW NOTES (00:00) Stories of the Day (01:09) Markets run up for 6th consecutive day (02:38) Why are Indian markets rising and where could they go? (13:59) Gold prices touch Rs 100,000 per 10 gm in India, record highs globally (15:16) Build on Blockchain (21:12) US Vice Pres meetings in India raises hopes of favourable tariff deal (24:06) US President Trump is going after the Federal Reserve Chairman for not cutting interest rates. What lessons does this hold for India? (34:35) And another Chinese battery company promises even longer range for a 5 minute charge, beyond BYD’s claim last month The Markets Stay Strong: BSE and NSE rose for the sixth straight session, led by consumer and private bank stocks—seen as tariff-proof. RBI eased norms on digital and wholesale deposits, lifting bank margins and financial stocks. Sensex closed at 79,596, up 7.8% in six days. Nifty at 24,167. Mid-cap and small-cap indices gained ~1%. Realty index also rose. Siddhartha Kemkha of Motilal Oswal explains what’s driving the markets. Wall Street Rebounds: After Trump’s criticism of Fed Chair Powell hit sentiment, Dow rose 573 points, S&P and Nasdaq ~1.5%-2%. Gold surged to $3,500/oz. Oil rebounded—Brent at $67, WTI at $64. IMF slashed 2025 US growth forecast to 1.8%. India’s gold hit ₹100,000/10g amid safe haven rush. Traders eye Akshaya Trithya demand. Indian households hold ~25,000 tonnes of gold, 11% of global jewellery stock. Building on Blockchain: Beyond crypto, blockchain is transforming insurance, banking and agriculture via smart contracts. These enable automatic, condition-based payouts—already used in flight delay insurance and rural crop claims. Nikhil Varma of Algorand explains the tech, use cases and oracles behind this shift. US-India Tariff Talks: VP JD Vance’s India visit sparks hope for a trade deal. Talks with PM Modi may help avoid 26% tariffs. US eyes more energy and defence exports. Modi, in Saudi Arabia, discussed joint petrochemicals and grid connectivity. India’s OPEC oil share hit a low, as cheaper Russian imports rise. Balancing US gas, Saudi ties and Russian oil will be key. Retail Rules: Amazon & Walmart: Amazon and Walmart face restrictions unlike Reliance, which can open physical stores. A new trade framework is being negotiated. Trump had labelled India the “tariff king.” Lessons From The Fed: Trump’s push for rate cuts and his public criticism of the Fed reignited debate over central bank independence. Inflation remains above target, but political pressure is mounting. Ashok K. Bhattacharya, Editorial Director at Business Standard, joins us to explore what this means for global financial credibility, why monetary autonomy matters, and what India should learn from the Fed’s challenges. He highlights that investor confidence hinges on the perception that central banks remain free from short-term political agendas. Yen vs Dollar: Yen hit 140/USD, its best since Sept, amid Fed concerns and trade risks. Rupee closed at ₹85.18/USD, helped by equity inflows. EV Battery Breakthroughs: CATL launched a battery that adds 520 km range in 5 mins—outpacing Tesla and BYD. Also unveiled: sodium-ion batteries, cutting lithium reliance and working in extreme temps. Why are Indian markets surging despite global chaos? From RBI policy to gold prices and smart contracts—Episode 563 of The Core Report covers it all. Stay updated with Govindraj Ethiraj on markets, blockchain, banking, and policy. Subscribe now for deep dives that matter. Watch, like, share, and comment to grow with us. #IndianMarkets #RBIUpdates #SmartContracts #GoldPrices #TheCoreReport Join The Core Insider to get access to perks: / @thecore_in Listeners! We await your feedback: https://tinyurl.com/TCR-Listener-Survey The Core & The Core Report is ad supported & FREE for all readers & listeners. Write in to shiva@thecore.in for sponsorships & brand studio requirements. For more of our coverage check out thecore.in (https://www.thecore.in/) Support the Core Report (https://tinyurl.com/Support-the-Core-...) Join & Interact anonymously on our WhatsApp channel (https://tinyurl.com/The-Core-WhatsApp...) Subscribe to our Newsletter (https://www.thecore.in/newsletters/th...) Follow Us on Social Media for More Updates: Twitter ( / the_core_in ) Instagram ( / the.core.in ) Facebook ( / thecore.biz ) Linkedin ( / thecore-in ) Youtube ( / @thecore_in )