S&P, Nasdaq open at record highs on US-EU deal optimism
ADVERTISEMENT The Dow Jones Industrial Average rose 45.1 points, or 0.10%, at the open to 44946.98. The S&P 500 rose 9.0 points, or 0.14%, to 6397.69, while the Nasdaq Composite rose 68.1 points, or 0.32%, to 21176.401.
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Time of India
41 minutes ago
- Time of India
Want to invest Rs 1 lakh when you are young? Here is Raamdeo Agrawal's Warren Buffett-style blueprint to compound wealth
At 30, pick a lane: Professional or Passive? Live Events Everybody knows the price, nobody knows the value India and the U.S. (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel If you're 20 years old and sitting on Rs 1 lakh, Motilal Oswal co-founder Raamdeo Agrawal has one piece of advice: don't do anything till you understand it. That, he says, is among the best lessons he's learned from Warren Buffett, and it applies to both investing and a conversation on Groww's investor podcast released on YouTube, the Motilal Oswal Financial Services co-founder urged young investors to resist the pressure to act without clarity. Agrawal said most 20-year-olds underestimate how little they know about the market. 'At the age of 20, what you don't know is a lot of things… So when you see value–price gap, you will have a, what do you call, limited understanding of it.'He recalled his own investing debut, a hostel tip-off that turned into a three-bagger. 'I bought it 15 bucks, and in a year, two years' time, it became 45 bucks,' he said, noting he was around 22 at the time. 'Those kinds of breaks will happen.'Asked where Rs 1 lakh should go at 30, Agrawal said it depends on whether you want to master the game or outsource it.'If I want to make a career in investing… then you should go to the stock market and figure out what is the value, what is the price, what is the earnings growth, what is the RoE, what is the momentum. I mean, it's a full-time job, and it has become very competitive.'Otherwise, 'go and give your money to one of the fund managers and be happy with it.'Agrawal didn't hold back on what he sees as the pitfalls of post-COVID market behaviour. 'Out of 200 million demat accounts, 160 million is less than 5 years… they have no clue what they are buying and selling... (post COVID)… market is very impatient,' he stressed that understanding intrinsic value is the core skill. 'Everybody knows the price. Nobody knows the value. Once you master the formula to discover value, investing becomes simple.'And the real reward, he added, lies in spotting mispriced opportunity. 'Is the return gap between price and value… is it asymmetric? We are looking for asymmetric... Asymmetricity in the return — that's the excitement in the market.'Agrawal dismissed market timing as a flawed strategy. 'Not buying at the bottom is a crime if at all you are trying to time the market,' he said. 'By the time you muster the courage to enter, you've already missed 40% of the upmove.'He advised investors to look beyond narrative and into balance sheets. 'I go straight to 23 financial ratios,' he said. 'If two companies are equally profitable, but one collects its dues in 10 days while the other takes 90 days, the difference is huge.'Despite growing global uncertainty, Agrawal believes India is one of the only two countries in the world, alongside the United States, where macroeconomic growth consistently flows into long-term equity returns. 'There are 170 markets, but only these two allow for extrapolation of economic growth into stock performance,' he said.'India,' he said, 'is more predictable than the U.S.': Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
an hour ago
- Economic Times
Secondary tariffs on Russian oil buyers: A new shockwave for global energy markets
Understanding Secondary Tariffs Global Oil Production and Consumption Landscape Live Events Potential Market Impact Geopolitical Ramifications (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel In a bold geopolitical move, US President Donald Trump has reiterated his intent to impose secondary tariffs on countries that continue purchasing oil from Russia. This move, aimed at pressuring Moscow into a ceasefire in Ukraine, could significantly disrupt global oil markets, intensify geopolitical tensions, and reshape energy tariffs are punitive measures not imposed directly on Russia, but against third-party nations that engage in trade with Russia—particularly in oil, gas, and uranium. The proposed tariffs could be as high as500%, targeting imports from countries that violate US sanctions. This strategy is designed to isolate Russia economically by deterring its trading partners, but it risks collateral damage across global supply of mid-2025, global oil production stands at approximately 101 million barrels per day (bpd), with consumption closely matching at 100.5 million bpd, according to the International Energy Agency (IEA). The top producers include the United States (12.9 million bpd), Saudi Arabia (10.5 million bpd), and Russia (9.8 million bpd). Russia remains a critical supplier, especially to China, India, and parts of Eastern Europe, which have increased imports since the Ukraine war Russian oil flows were completely banned, replacing its supply would be extremely challenging for global markets as it contributes roughly 10% of global supply. Even in an optimistic scenario, the world could replace 5–6 million bpd, leaving a shortfall of 3–5 million secondary tariffs are enacted, they would likely lead to a sharp price increase, global inflation, energy rationing in vulnerable economies and accelerated investment in renewable energy and gas Russian oil indirectly through its buyers could reduce global supply, especially if major importers like India and China face pressure to cut back. This supply shock could push Asian Brent crude prices to exorbitant highs, raising worries over inflation dependent on Russian oil may scramble for alternatives, increasing demand for Middle Eastern and U.S. oil. This could strain existing production capacities and lead to regional energy shortages, particularly in Asia and Eastern the proposed tariffs are not just economic tools—they're geopolitical weapons. If President Trump enforces this tariff on China and India—two of Russia's largest energy customers—could face significant economic and strategic challenges. These tariffs would not only raise the cost of imports but also strain diplomatic ties with the US, forcing both countries to recalibrate their energy and trade in such a high tariff environment, China and India may adopt a multi-pronged strategic approach as a response to the US. Both countries could accelerate deals with Middle Eastern supplies and may find new suppliers from Africa and Latin America. China may boost Yuan based trade to bypass dollar-based sanctions. In addition, diplomatic measures, enhancing renewable investments and boosting domestic production may also expected Trump's proposed secondary tariffs represent a high-stakes gamble. While they aim to pressure Russia into peace talks, the global repercussions could be severe—fuelling inflation, disrupting energy markets, and reshaping geopolitical alliances. As the world watches, the decision could mark a turning point in both the Ukraine conflict and the future of global energy diplomacy.: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
Time of India
an hour ago
- Time of India
Indian Oil refiners continue to source oil from Russia
Indian oil refiners continue to source oil from Russian suppliers, sources told ANI. Their supply decisions are guided by price, grade of crude, inventories, logistics and other economic factors, the sources revealed. Providing context for India's decision to continue sourcing oil from Russian suppliers, sources said that Russia, the world's second-largest crude oil producer with an output of around 9.5 mb/d (nearly 10 per cent of global demand), is also the second-largest exporter, shipping about 4.5 mb/d of crude and 2.3 mb/d of refined products. Fears of Russian oil being pushed out of the market and the consequent dislocation of traditional trade flows drove dated Brent crude prices to soar to $137 per barrel in March 2022. "In this challenging environment, India, as the world's third-largest energy consumer with 85 per cent crude oil import dependence, strategically adapted its sourcing to secure affordable energy while fully adhering to international norms," added sources. Earlier, United States President Donald Trump on Friday (local time) claimed that India may cease purchasing Russian oil, calling it "a good step" if confirmed, while India has defended its sovereign right to conduct energy policy based on national interest. Earlier on July 31st, Reuters reported, citing its sources, that Indian state-owned refineries suspended Russian oil purchases last week amid threats of tariffs from US President Donald Trump and narrowing price discounts. Providing further historical context to its decision of sourcing Russian Oil, sources told that Russian oil has never been sanctioned ; instead, it was subjected to a G7/EU price-cap mechanism designed to limit revenue while ensuring global supplies continued to flow. India acted as a responsible global energy actor, ensuring markets remain liquid and prices stable. India's purchases have remained fully legitimate and within the framework of international norms. "Had India not absorbed discounted Russian crude combined with OPEC+ production cuts of 5.86 mb/d, global oil prices could have surged well beyond the March 2022 peak of US$137/bbl, intensifying inflationary pressures worldwide," added sources to ANI. It is also pertinent to note that Russian oil has never been sanctioned and it is still not sanctioned by either US or EU. Indian OMCs have not been buying Iranian or Venezuelan crude which is actually sanctioned by US. OMCs have always complied with the price cap of $60 for Russian oil recommended by the US. Recently EU has recommended a price cap of $47.6 dollars for Russian crude which will be enforced from September. Commenting on European Union's import of Russian origin liquified natural gas (LNG) during this period, sources added, "EU was the largest importer of Russian liquefied natural gas (LNG) during this period, buying 51 per cent of Russia's LNG exports, followed by China at 21 per cent and Japan at 18%. Similarly, for pipeline gas, the EU remained the top buyer with a 37 per cent share, followed by China (30%) and Turkey (27%)." Sources speaking to ANI rebutted media reports of India halting purchase of Russian Oil and after US President's latest comment echoing the claim in the media report. US President Trump made remarks while answering an ANI question, on whether he had a number in mind for the penalties on India and if he was going to speak with Prime Minister Narendra Modi., "I understand that India is no longer going to be buying oil from Russia. That's what I heard, I don't know if that's right or not. That is a good step. We will see what happens..." Backing their decision to continue sourcing Russian Oil, Sources added that India's energy decisions have been guided by national interest but have also contributed positively to global energy stability. India's pragmatic approach kept oil flowing, prices stable, and markets balanced, while fully respecting international frameworks.
