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On Thursday, Indian markets opened on a high note, buoyed by positive reactions to corporate earnings and global political dynamics. The announcement of a pivotal meeting between US President Donald Trump and Chinese President Xi Jinping alleviated concerns over trade disputes. Strong performances from key companies further fueled market optimism, with energy sectors benefiting from a hike in oil prices.
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Chemical companies anticipate a mixed September quarter. Volume recovery in some areas faces challenges from weak pricing and lower demand. Specialty and fluorine-based firms are poised for better results. Agrochemicals may see a weaker performance due to weather disruptions. Investors will monitor project launches and price trends.
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Banking profits from treasury operations significantly declined in the September quarter, nearly halving due to rising bond yields and the absence of central bank support. This trend is expected to persist, impacting income for the current quarter as well. Major banks like HDFC and ICICI Bank witnessed substantial drops in their treasury gains.
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