Bank of Baroda said net profit for the June 2024 quarter fell 72% year on year to Rs 1,278 crore, weighed by a one-time $600 million charge tied to the NMC Health litigation. Net interest margin slipped to 2.77% and core fee income declined 22%, prompting multiple brokerages to cut earnings forecasts and target prices. The bank is also probing claims of a potential leak of nearly 1TB of customer data, adding to concerns over reputational and regulatory risk. Shares fell 2% on the day as investors focused on earnings quality and these overhangs.

Alphabet CEO Sundar Pichai said Gemini 3.5 Pro was delayed after missing internal targets in coding and agentic tasks, but argued Gemini 4 will be a major step up. Alphabet reported Google Cloud revenue rose 82% year on year to $24.8 billion and said cloud backlog reached $514 billion. The company posted total revenue of $119.8 billion and profit of $112.1 billion, while shares fell more than 3% in after-hours trading despite Gemini reaching 950 million monthly active users.

India’s benchmark Sensex and Nifty50 slipped 0.13% on Tuesday, ending a four-session winning streak as profit-taking spread after Trent’s weaker-than-expected June-quarter business update sent the stock down 12.42%. Information technology shares outperformed, with the IT index up 2.43% and HCLTech, Tech Mahindra and Infosys each rising more than 2.8%, limiting the downside. Investors stayed cautious ahead of the release of the U.S. Federal Reserve’s meeting minutes and the start of the Q1 earnings season.

India’s MCX gold has pulled back from a record Rs 192,991 per 10 grams to about Rs 143,610, a 26% drop of nearly Rs 50,000. The move has been driven by a repricing of US Federal Reserve policy, with markets factoring in three rate hikes this year and nearly an 80% chance of another increase in December. A stronger US dollar and a brief jump in oil prices have also fed inflation concerns, weighing on bullion. International gold has fallen for four straight weeks, with COMEX support seen at $3,950–$4,000 and a possible move toward $3,600 if that range breaks.

X is publicly recruiting Meta employees it describes as “neglected,” saying it will match or even exceed Meta’s snack budget while seeking web and data engineers and scientists. The outreach comes after Meta laid off around 8,000 employees in May and reassigned about 6,500 engineers and product managers to AI projects, moves that have weighed on morale. Some employees have likened the mandatory AI task force to being “drafted” and pushed back against a mouse-and-keystroke tracking initiative.

India’s inflation risk is increasingly tied to domestic monsoon conditions rather than international crude oil, after retail inflation rose to 3.93% in May from 3.48% in April. The Reserve Bank of India has raised its FY27 inflation forecast to 5.1% from 4.6% amid higher energy costs and uncertainty. While easing Middle East tensions have helped oil prices retreat, a weak monsoon could lift food prices and keep inflation firm, limiting room for rate cuts.

Federal Reserve signals that it could raise rates again in October, pushing US bond yields up to 4.46% and dragging down US tech stocks, which in turn weighed on Indian IT names including Infosys, TCS and HCLTech; the Nifty IT index fell 1.46% in a single session. The note also points to Brent crude slipping to $78 a barrel after a US-Iran agreement eased supply concerns, a move that supported domestically oriented sectors. That support, however, did not offset selling pressure in IT stocks.

Global oil markets avoided the kind of shock many feared as tensions among the US, Israel and Iran rose, despite warnings that disruption in the Strait of Hormuz could send prices sharply higher. Bloomberg energy analyst Javier Blas argued that China acted as a demand-side “swing importer,” cutting May crude imports to 7.8 million barrels a day, the lowest in eight years. Seaborne inflows fell to a 10-year low and more than 45% below their 2025 average, a reduction comparable to the combined oil consumption of Germany, France and the United Kingdom. The article says China drew on strategic reserves, accelerated electric-vehicle use and leaned more on coal power and coal-to-chemicals, weakening the transmission of geopolitical risk into oil prices.

Toyota Kirloskar Motor executive Vikram Gulati said wider use of ethanol-blended fuels could help India cut its reliance on imported crude oil while improving air quality. India has begun the commercial rollout of E85, with the first dispensing station launched in Delhi and priced Rs 20 per litre below E20 petrol in the capital. The government plans to build about 500 E85 stations by the end of this year and scale the network to around 5,000 outlets by end-2027.