India’s Ministry of Electronics and Information Technology ordered the removal of three battery-management apps—BAT-BMS, Lossigy and Epoch Li-ion—after they were used to remotely disable e-rickshaw batteries. Google Play Store and Apple App Store have taken the apps down. The move is a compliance response to a regulatory directive and does not involve product defects, revenue losses or a major policy shift. The impact on the two companies’ core operations and finances is expected to be limited.

On July 2, gold prices in India rebounded by Rs 3,000 to Rs 1.47 lakh per 10 grams, while silver rose to Rs 2.40 lakh per kg. The move followed a less hawkish tone from US Federal Reserve Chair Kevin Warsh, which eased rate-hike concerns, alongside a stronger yen that helped push the dollar index (DXY) lower. In global markets, spot gold climbed 1% to USD 4,070.04 per ounce and silver rose 1.3% to USD 59.89 per ounce.

Escalating military conflict between the US and Iran has stalled negotiations, but gold has still fallen for two straight weeks. Comex gold slid 3.5% on the week to USD 4,096.3 per ounce, while silver dropped 10.7% to USD 59.67 per ounce. In India, MCX gold August futures fell 2.06% and MCX silver September futures declined 6.4%. Analysts cited a stronger US dollar, a near-10% drop in crude oil that eased inflation concerns, and rising US Treasury yields as key factors weighing on precious metals.

Rajesh Exports shares hit the 5% intraday lower circuit after the Serious Fraud Investigation Office (SFIO) said it would launch a formal fraud probe. The move follows Enforcement Directorate (ED) searches under the Foreign Exchange Management Act (FEMA) that flagged suspected revenue manipulation, missing overseas-transaction documents and unusual pay structures, while Sebi issued an interim order on June 3 barring the promoter from trading the company’s securities. The company, India’s largest gold refiner and jeweller, denied the allegations and said it will contest them through legal channels.

Brent crude fell 1.70% to $72.49 a barrel, a notable recent decline. For India, a net crude importer, lower oil prices can ease imported inflation pressures and improve expectations for corporate earnings. In the same period, the Sensex and Nifty jumped, with markets viewing weaker oil as a key support. Major Asian equity benchmarks mostly rose, although Hong Kong’s Hang Seng closed lower, while foreign investors extended net selling with a one-day outflow of ₹1,843.40 crore.

Blue Cloud Softech said it is in non-binding discussions with SpaceX on potential collaboration in artificial intelligence technologies, sending its shares up 17% to ₹21.67 and outperforming the broader market. The Indian small-cap IT services firm has a market capitalisation of about ₹1,592 crore. The company said the talks are at an early stage with no legal commitment, and any deal would require due diligence, approvals and definitive agreements. The announcement also fuelled short-term trading interest in AI-themed small-cap stocks.

A sharp monsoon delay and persistent heat in Khargone district of Madhya Pradesh are causing widespread wilting in cotton, chilli, maize and other crops, with farmers reporting severe moisture stress and many tube wells and surface water sources running dry. The area is a key producer of export-grade cotton in India, and the monsoon normally arrives by June 15 but has been delayed. Farmers say that without effective rainfall over the next four to eight days, losses could be heavy. The disruption is weighing on near- to mid-term expectations for global cotton supply.

Global markets rebounded after reports that the United States and Iran reached a temporary ceasefire that includes releasing Iran’s frozen assets and pursuing talks on easing sanctions within a 60-day window. The news also sent oil prices sharply lower, easing near-term fears of Middle East supply disruptions. Jefferies said the arrangement looks highly fragile, warning of significant domestic resistance in the United States even as it has reduced immediate risk premiums in energy markets. The oil-price drop was driven directly by the ceasefire headlines rather than a knock-on effect from equities or broader indexes.

About 80 million barrels of crude are sitting at the Persian Gulf’s gateway, waiting to exit through the Strait of Hormuz. Roughly 40 very large crude carriers are standing by inside the Gulf, while 21 more are sailing toward Asia and some are nearing the strait. Abu Dhabi National Oil Co. has told customers to resume loading. A full reopening could quickly release the backlog into global markets, potentially easing tight supply and damping oil-price swings.