9 FINANCEOUTLOOKINDIAJULY, 2026US SENATE CUTS INDIA'S RUSSIA OIL TARIFF RISK FROM 500% TO 100%SENSEX AND NIFTY END LOWER AS OIL SURGE HITS MARKET SENTIMENTSBI FUNDS MANAGEMENT IPO OPENS FOR SUBSCRIPTION: CHECK KEY DETAILSWHOLESALE INFLATION RISES TO 9.87% IN JUNE ON FOOD AND ENERGY PRICESINDIA'S TOP BRANDS GROW 7% TO HIT $252.8 BN VALUE: TATA GROUP LEADSA revised version of a major Russia sanctions bill unveiled in the US Senate has softened the tariff threat facing India and China, the two largest buyers of Russian crude oil. The updated legislation lowers the maximum tariff on countries purchasing Russian oil and gas to 100%, sharply down from the blanket 500% proposed in the original bill.The bill targets the top five purchasers of Russian crude - China, India, Slovakia, Hungary, and Azerbaijan - with tariffs of up to 100% on their imports. Notably, India does not feature among the top importers of Russian natural gas, which include China, France, Japan, Hungary, and Belgium, meaning the tariff exposure for India is centred specifically on its crude oil purchases from Russia. A sharp rise in food and non-food prices pushed wholesale inflation to 9.87% in June, up from 9.68% in May, according to the latest data released by the government. Fuel and Power recorded the highest inflation among major groups at 27.41%, followed by Manufactured Products at 7.48% and Primary Articles at 7%. The increase was largely driven by mineral oils, crude petroleum and natural gas, chemicals and chemical products, and basic metals. The resilience of India's top brands is reflected in a 7% growth in collective brand value year-on-year, reaching $252.8 billion. Tata Group, which retained its top spot for the 18th consecutive year, recorded a 6% rise in brand value to reach $33.6 billion.Tata Group, Infosys, LIC, HDFC Group and Reliance Group maintained their top five spots as Indian markets ended sharply lower on Tuesday, July 14, as escalating West Asia tensions, a spike in crude oil prices, and a weaker rupee weighed on investor sentiment.SBI Funds Management, India's largest asset management company (AMC), has gone public with its eagerly awaited initial public offering (IPO) of Rs 9813 crore on Tuesday, July 14. The stocks will trade at Rs 545 to Rs 574 apiece and the issue will be open till July 16. The retail investors have to apply for buy at least 26 share which means at the top end of the price band they have to apply for Rs 14,924. The company's shares are proposed to be listed on both the BSE and NSE. The public issue is a full offer for sale (OFS), where the sale of 17.10 crore equity shares is being made by the existing shareholders ­ State Bank of India and Amundi. The company won't receive any proceeds from the IPO because there is no fresh issue component, only proceeds of the offering will be credited to the selling shareholders. at the end of December 2025, according to ACE Equities data. the most valuable brands in India, with Tata Group remaining the brand with the highest value, in the list released by Brand Finance. In a tough global scenario, nine of the top 10 brands achieved growth in their brand value, said the report, citing the digital transformation, infrastructure, manufacturing and innovation in key sectors as the reason for the growth. The Sensex fell 562 points to close at 77,055, while the Nifty declined 159 points to end at 24,052. Market breadth remained weak throughout the session, with the NSE advance-decline ratio at 1:2, and 34 Nifty constituents ending in the red.CLTech was the top Nifty loser, dropping over 4% after reporting a mixed set of Q1 earnings. Auto stocks, including Tata Motors and Bajaj Auto, declined as higher crude prices weighed on the sector, while aviation and paint companies also came under pressure, with IndiGo falling around 2%. Life insurers such as ICICI Prudential Life and HDFC Life ended lower ahead of their quarterly results.
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