logo
ET Market Watch: Sensex crashes 500 points, 5 factors behind market fall

ET Market Watch: Sensex crashes 500 points, 5 factors behind market fall

Economic Times18-07-2025
Transcript
Hi, you're listening to ET Markets Radio, I am your host Neha V Mahajan. Welcome to a fresh episode of ET Market Watch -- where we bring you the latest news from the world of stock markets every single day. Let's get to it:
Markets took a beating today! Sensex down 500 points, Nifty slips below 25,000. So, what triggered the sell-off? Sensex closed at 81,757. Nifty ended at 24,968. ₹2.6 lakh crore in market value wiped out. Broad sell-off across financials, autos, FMCG, and pharma.
Top 5 reasons behind the fall:
1. FIIs Turn Sellers
After strong inflows in May and June, foreign investors pulled out ₹2,660 crore this month. This reversal in trend reflects growing caution amid global uncertainties, elevated valuations, and a shift in risk sentiment.
2. Axis Bank Misses Estimates
Higher provisions hit profits. Stock fell 5.2%. Hence, Ripple effects were seen across HDFC, Kotak, and SBI, pulling the Sensex down by 391 points.
3. Citi Downgrades India
Citi moves India to neutral, citing overvaluation. Market is at 23x forward earnings, way above peers and historic average. While Citi is positive on India's macro outlook, it prefers sectors like banks, NBFCs, healthcare, and telecoms, and is cautious on IT, metals, and consumer staples.
4. Fed Confusion Continues
Conflicting signals from US Fed officials are hinting at no rate cut in July. Even September's not guaranteed. Hence, the market mood is not that great.
5. Oil Prices Surge
Drone strikes in Iraq push Brent to $70+. This is not good news for oil-importing India, so input cost worries are back.
Is this a healthy correction or a warning sign? Let's watch the global cues next week.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Citi unveils Strata Elite credit card with $595 fee to challenge Amex and Chase in premium market
Citi unveils Strata Elite credit card with $595 fee to challenge Amex and Chase in premium market

Economic Times

time3 hours ago

  • Economic Times

Citi unveils Strata Elite credit card with $595 fee to challenge Amex and Chase in premium market

Citi unveils Strata Elite credit card Citigroup has launched its highly anticipated Strata Elite Credit Card, entering the ultra-premium credit card arena with a $595 annual fee. This new offering is positioned to directly compete with American Express's Platinum card and Chase's Sapphire Reserve, both dominant players in the luxury travel rewards market. The Strata Elite aims to attract affluent consumers by delivering significant value and exclusive perks at a lower fee point compared to its rivals. While Amex Platinum charges $695 annually and Chase Sapphire Reserve recently increased its fee to $795, Citi is marketing the Strata Elite as a cost-effective alternative potentially offering up to $1,500 in annual value for users who fully leverage its benefits. The Strata Elite card emphasizes rewards in key lifestyle categories. Cardholders can earn up to 12 points per dollar spent on hotels, car rentals, and attractions booked through Citi Travel, alongside elevated rewards for dining during peak weekend hours. The card's annual credits are substantial, including a $300 hotel credit valid on multi-night stays booked via Citi's travel platform, a $200 'Splurge' credit redeemable at select retailers such as Best Buy and Live Nation, and four American Airlines Admirals Club lounge passes per year—a unique benefit not offered by competing premium cards. Additional perks include lounge access, a biannual $100 Blacklane chauffeur credit totaling $200 annually, and a Global Entry or TSA PreCheck fees every four years. The Strata Elite also waives foreign transaction fees and comes with comprehensive travel and purchase protections. Members enjoy exclusive offers at premium hotels, such as complimentary breakfast, late checkout privileges, and $100 experience credits at select locations. A key highlight setting the Strata Elite apart is its ability to transfer points at a 1:1 ratio to American Airlines AAdvantage miles. This feature marks the first time in the U.S. consumer credit market that Citi has enabled such a transfer, following American Airlines' recent partnership with Citi's ThankYou Rewards program. Points can be earned at competitive rates across multiple categories, with authorized users available for $75 each, granting nearly full card benefits including lounge access. This approach signals Citi's renewed focus on the high-end travel segment, reminiscent of its earlier Citi Prestige card, which was discontinued for new applicants in launch of the Strata Elite intensifies the competition among premium credit cards amid a highly active "perk war." Chase's recent increase of the Sapphire Reserve annual fee to $795 was paired with enhanced benefits, while American Express continues to evolve its Platinum card, maintaining its $695 fee but adding new credits and exclusive experiences to retain customers. Capital One, with its Venture X card priced at $395 annually, is also expanding its travel offerings to capture affluent consumers seeking premium perks at a lower cost. Despite rising fees in this segment, analysts note that the demand for luxury travel rewards remains strong, supported by Federal Reserve data indicating average U.S. credit card interest rates above 20%, which accentuates the value of rewards and benefits for head of U.S. cards and lending highlighted the design philosophy of the new card, stating, "The modern customer, who is affluent with a passion for travel and dining, told us they want to maximize the rewards they can earn in the categories they care about."

Citi unveils Strata Elite credit card with $595 fee to challenge Amex and Chase in premium market
Citi unveils Strata Elite credit card with $595 fee to challenge Amex and Chase in premium market

Time of India

time3 hours ago

  • Time of India

Citi unveils Strata Elite credit card with $595 fee to challenge Amex and Chase in premium market

Citigroup has launched its highly anticipated Strata Elite Credit Card , entering the ultra-premium credit card arena with a $595 annual fee. This new offering is positioned to directly compete with American Express's Platinum card and Chase's Sapphire Reserve, both dominant players in the luxury travel rewards market. The Strata Elite aims to attract affluent consumers by delivering significant value and exclusive perks at a lower fee point compared to its rivals. While Amex Platinum charges $695 annually and Chase Sapphire Reserve recently increased its fee to $795, Citi is marketing the Strata Elite as a cost-effective alternative potentially offering up to $1,500 in annual value for users who fully leverage its benefits. Explore courses from Top Institutes in Please select course: Select a Course Category PGDM Product Management Finance MBA Degree Technology Operations Management MCA healthcare Public Policy Healthcare others Artificial Intelligence Cybersecurity Digital Marketing Others Data Analytics Data Science Design Thinking Management Leadership Project Management CXO Data Science Skills you'll gain: Financial Analysis & Decision Making Quantitative & Analytical Skills Organizational Management & Leadership Innovation & Entrepreneurship Duration: 24 Months IMI Delhi Post Graduate Diploma in Management (Online) Starts on Sep 1, 2024 Get Details The Strata Elite card emphasizes rewards in key lifestyle categories. Cardholders can earn up to 12 points per dollar spent on hotels, car rentals, and attractions booked through Citi Travel, alongside elevated rewards for dining during peak weekend hours. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Shooter Action MMO Crossout Play Now Undo The card's annual credits are substantial, including a $300 hotel credit valid on multi-night stays booked via Citi's travel platform, a $200 'Splurge' credit redeemable at select retailers such as Best Buy and Live Nation, and four American Airlines Admirals Club lounge passes per year—a unique benefit not offered by competing premium cards. Additional perks include lounge access, a biannual $100 Blacklane chauffeur credit totaling $200 annually, and a Global Entry or TSA PreCheck fees every four years. The Strata Elite also waives foreign transaction fees and comes with comprehensive travel and purchase protections. Members enjoy exclusive offers at premium hotels, such as complimentary breakfast, late checkout privileges, and $100 experience credits at select locations. Live Events A key highlight setting the Strata Elite apart is its ability to transfer points at a 1:1 ratio to American Airlines AAdvantage miles. This feature marks the first time in the U.S. consumer credit market that Citi has enabled such a transfer, following American Airlines' recent partnership with Citi's ThankYou Rewards program. Points can be earned at competitive rates across multiple categories, with authorized users available for $75 each, granting nearly full card benefits including lounge access. This approach signals Citi's renewed focus on the high-end travel segment, reminiscent of its earlier Citi Prestige card, which was discontinued for new applicants in 2021. The launch of the Strata Elite intensifies the competition among premium credit cards amid a highly active "perk war." Chase's recent increase of the Sapphire Reserve annual fee to $795 was paired with enhanced benefits, while American Express continues to evolve its Platinum card, maintaining its $695 fee but adding new credits and exclusive experiences to retain customers. Capital One, with its Venture X card priced at $395 annually, is also expanding its travel offerings to capture affluent consumers seeking premium perks at a lower cost. Despite rising fees in this segment, analysts note that the demand for luxury travel rewards remains strong, supported by Federal Reserve data indicating average U.S. credit card interest rates above 20%, which accentuates the value of rewards and benefits for consumers. Citi's head of U.S. cards and lending highlighted the design philosophy of the new card, stating, "The modern customer, who is affluent with a passion for travel and dining, told us they want to maximize the rewards they can earn in the categories they care about."

Citi launches Strata Elite Card to rival Amex and Chase: From benefits, costs and perks — Here's all you need to know
Citi launches Strata Elite Card to rival Amex and Chase: From benefits, costs and perks — Here's all you need to know

Mint

time6 hours ago

  • Mint

Citi launches Strata Elite Card to rival Amex and Chase: From benefits, costs and perks — Here's all you need to know

Citigroup has become a latest entrant to join the competitive luxury credit card market with its new Strata Elite Card. This latest offering is the bank's attempt to grab a piece of the high-fee, high-rewards credit card market that is currently dominated by American Express' Platinum Card and JPMorgan Chase's Sapphire Reserve Card. The Strata elite card is priced at an annual fee of $595, which is less than the Platinum Card and the Sapphire Reserve Card. The cost can also unlock almost $1,500 in value if used to its maximum potential. The new launch also aims to be a strong contender by offering: Points rewards: The card provides points for everyday spending, however a customer can earn largest points for certain types of spending, like hotels, car rents, air travel as well as restaurant dining at peak weekend times. Rewards for each dollar spent on different bookings. Generous credits: The card provides a $300 hotel credit and a $200 'splurge' credit usable at brands like Best Buy, Live Nation and others. Travel rewards: The most significant earning potential comes from booking travel through Citi's new travel portal, which gives 12 times points on Citi's 'Thank You' rewards programme. The perks also include four passes per year to airport lounges for customers who fly with American Airlines. This is not Citi's first foray into the high-end credit card market. In 2013, the company launched the Citi Prestige card which won high praise from travel fanatics when it debuted for its hefty rewards program and perks. However, its prestige was short-lived. The release of Chase's instant hit Sapphire Reserve Card in 2016 and subsequent overhauls to the Amex Platinum Card led to the Prestige Card losing its competitive edge. Citi stopped allowing new applications for Prestige in 2021, but the card's benefits still exist for customers carrying the card. The Strata Elite card is entering a highly competitive marketplace. Other than the Platinum Card and Sapphire Reserve, there are other rewards-heavy cards like Capital One's Venture X Card and an upcoming high-rewards card from Bilt early next year. Chase recently raised the annual fee on Sapphire Reserve to $795 in June, and American Express has signaled upcoming revisions to the Platinum Card's rewards and perks later this year. A customer who ends up carrying two of these high-fee cards can quickly spend more than $1,000 on annual fees. So far, credit card companies have been able to justify these fees by giving lucrative perks, like travel or other spending credits, and generous rewards programs, effectively marketing them as a high-end subscription plan.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store