India's office leasing activity slowed in Q2 due to a shortage of premium spaces, with gross leasing down 1% and net leasing down 14.5%. Despite this, occupier demand remains resilient, driven by global companies' confidence in India's talent and growth prospects.
Bitcoin dropped to $59,060 as the US dollar strengthened to a 13-month high and oil prices fell, easing inflation fears. This, coupled with a slowdown in Strategy's Bitcoin purchases and strong AI sector earnings, weakens the investment case for alternative scarce assets like BTC.
India's private sector growth decelerated in June, reaching a three-month low due to weaker demand impacting factories and services. Business confidence fell to its lowest since January, with job creation also at a six-month low.
The Indian rupee fell 30 paise to close at 94.63 against the US dollar on Monday, influenced by a strong dollar and Middle East tensions. Forex traders noted volatile trading, with inflows offset by dollar strength and peace deal uncertainty.
Defence Minister Rajnath Singh stated India will not allow Indus river waters to reach "patrons of terror," reinforcing the nation's stance against Pakistan. He highlighted India's growing global role, defence production, and economic progress, while criticizing opposition parties and the previous UPA government.
