Pakistan’s wheat crisis is worsening after Punjab met only 16% of its annual procurement goal, leaving national reserves strained and an estimated shortfall of about 3.5 million tonnes. The country spent more than USD 1 billion to import nearly 3.5 million tonnes of wheat last year, but officials are still weighing emergency additional imports. Federal and provincial authorities are coordinating releases from federal stocks and assessing new import options.

India-based IT solutions provider Xtranet Technologies Limited opened its IPO on July 23, 2026, seeking to raise ₹166.80 crore at a price band of ₹120–₹127 per share. The company said the proceeds will be used for debt repayment or prepayment, capital expenditure, working capital needs and general corporate purposes. It reported FY26 revenue of ₹3,653 crore.

The Reserve Bank of India has introduced rules limiting the use of bank guarantees (BGs) for leveraged funding in derivatives. A report says the main alternative—raising funds via commercial papers (CPs)—costs around 11%, versus about 1% for BGs, which could reduce participation by proprietary traders including high-frequency trading firms. It expects average daily turnover (ADTO) in options to fall 18–20% in FY28, pressuring revenue and earnings expectations for exchanges such as NSE and BSE, according to Dolat Capital.

Gold in Delhi fell Rs 700 to Rs 1.46 lakh per 10 grams (inclusive of all taxes), while silver slumped Rs 8,900 to Rs 2.26 lakh per kg (inclusive of all taxes). Spot prices overseas were firmer, with gold edging up to USD 4,020.13 per ounce and silver rising nearly 1 per cent to USD 58.06 per ounce. The domestic market remained under pressure as buying from jewellers and industrial users stayed weak.

Indian equities opened sharply lower, with the Sensex down 524.12 points and the Nifty 50 off 145.20 points. Brent crude rose 1.88% to USD 84.86 a barrel while gold gained 0.34% to USD 4,015.28 an ounce, and Dow Jones Futures fell 167.87 points. The selloff was widely linked to escalating Middle East military tensions, hawkish signals from global central banks and key U.S. inflation data approaching, which has pushed investors away from risk assets and added a geopolitical premium to commodities, according to ANI.

Sindh province has imposed retail flour price caps in Karachi at PKR 125–145 per kilogram, even as market prices are selling at PKR 145–170 per kilogram. Flour millers say wheat procurement costs have risen to around PKR 116 per kilogram, making production under the official rates financially unsustainable. Industry representatives have warned that, without a revision to the pricing policy, supply disruptions could follow, according to The Express Tribune.

US nonfarm payrolls rose by just 57,000 in June, far below expectations of 100,000, strengthening bets that the Federal Reserve could shift toward an easier policy stance. Spot gold climbed 1.4% to $4,179.94 an ounce, while crude traded in the $71–$72 a barrel range and the dollar index weakened. Indian equities rallied at the open, with the Sensex up more than 500 points and the Nifty moving above 24,300.

Federal Reserve Chair Kevin Warsh reaffirmed the central bank’s commitment to a 2% inflation target at a European Central Bank panel in Sintra. He said those expecting the Fed to accept an inflation objective above 2% would be disappointed and offered no guidance on the July 28 policy meeting or the September 15-16 meeting. After his remarks, markets pared back expectations for rate cuts, with the implied probability of a September rate increase rising to 70%.

The yen fell below 162 to the dollar on June 30, marking a 40-year low. Japan’s Ministry of Finance has intervened in the market from April to May, deploying more than USD 72 billion to stabilise the exchange rate. The Bank of Japan has recently raised its policy rate to 1%—a 30-year high—and is scaling back Japanese government bond purchases. A widening Japan-US rate gap, rising energy import costs and inflation pressures, including wholesale prices above 6% year-on-year in May, are weighing on the currency.