The government bond yield curve is likely to flatten in the financial year 2027 (FY27) as the Reserve Bank of India (RBI) is expected to ease supply pressure in the ultra-long segment. In FY26 so far, reduced investments by insurance companies and pension funds pushed up yields on ultra-long tenor securities, steepening the curve.
From the Sensex firms, State Bank of India, Bajaj Finserv, Bajaj Finance, Maruti, HCL Tech, Larsen & Toubro, Mahindra & Mahindra and Infosys were among the major winners. However, Hindustan Unilever, Eternal, Tata Motors Passenger Vehicles, and Sun Pharma were among the laggards.
Restoring weighted tax deductions and adopting a petty patents regime can foster firm-level innovative activity critical for competitiveness, points out Nagesh Kumar.
Among Sensex firms, Tech Mahindra, Infosys, Bajaj Finance, Bajaj Finserv, Eternal, Adani Ports, Hindustan Unilever and Bharat Electronics were the major laggards. However, Bharti Airtel, Axis Bank, Asian Paints and Titan were among the gainers.
Shrugging off concerns over the depreciation of rupee, the RBI has cut interest rate by 25 basis points to 5.25 per cent in a bid to further bolster economic growth, which rose to a six-quarter high of 8.2 per cent in the second quarter of the current financial year.
Shrugging off concerns over the depreciation of rupee, the RBI has cut interest rate by 25 basis points to 5.25 per cent in a bid to further bolster economic growth, which rose to a six-quarter high of 8.2 per cent in the second quarter of the current financial year.
Gold prices on Tuesday surged Rs 723 to touch an all-time high of Rs 110,312 per 10 grams in the domestic futures market, tracking strong global cues amid growing expectations of a US Federal Reserve interest rate cut next week. Traders said weak US labour market data has strengthened the case for monetary policy easing, putting pressure on the dollar and boosting demand for the safe-haven asset.
Among Sensex firms, Bajaj Finserv, Bajaj Finance, Tata Steel, Reliance Industries, Sun Pharma, Tata Motors Passenger Vehicles, Axis Bank and Infosys were among the major gainers. Bharti Airtel and Asian Paints emerged as the laggards from the pack.
Indication of a potential US Federal Reserve rate cut may trigger optimism in the domestic equity market, with investors' attention shifting to the looming deadline for additional US tariffs on Indian goods in a holiday-shortened week ahead, analysts said.
Gold's glittering rally is expected to continue, with prices likely to climb towards $4,500 per ounce in overseas markets, supported by sustained global central bank purchases, persistent geopolitical tensions, and strong Asian demand, according to a report by Motilal Oswal Financial Services Ltd. Silver, which has outperformed gold in terms of returns so far this year, is projected to climb to around $75 per ounce, aided by robust industrial consumption and a widening supply deficit, the report said.
UBS has turned bullish on emerging markets (EM), including India, as it finds benign macro trends, positive momentum in earnings revisions, and resilient EM currencies helping these economies sustain higher valuations and attracting flows. Among regions, it has upgraded Mainland China to 'attractive' and China Tech to 'most attractive', while downgrading Philippines to 'neutral'.
From the Sensex firms, Bharti Airtel, Power Grid, Tech Mahindra, Infosys, Bajaj Finance and Reliance Industries were among the major laggards. However, Larsen & Toubro, Bharat Electronics, UltraTech Cement and Maruti were among the gainers.
Gold and silver prices are expected to maintain their upward trajectory this week, but may see late profit-booking amid the release of a series of crucial global economic indicators, analysts said. On the economic front, traders will closely monitor the manufacturing/ services PMI data from across regions and the US non-farm payrolls/ employment data along with consumer confidence for the month of September and speeches from several Federal Reserve officials, they added.
Gold prices are likely to remain under pressure in the coming week as investors await key US macroeconomic data for cues on the Federal Reserve's potential direction on interest rates, which in turn will influence the trajectory for the precious metal, according to analysts. Market sentiment has tilted away from safe-haven assets like gold amid fading geopolitical tensions and improving risk appetite towards riskier assets such as equities, they said.
Inflation data, quarterly earnings and global trends will be the major driving factors for stock markets this week, analysts said. Moreover, the trading activity of foreign investors would also influence the equity market trends.
The core dilemma remains: Why provide further stimulus to an economy that is already booming at an 8 per cent growth rate? asks Rajeswari Sengupta.
The Adani group, which operates across multiple infrastructure sectors, with 12 listed entities in India and a combined market capitalisation of about $200 billion, remains "anchored by strong assets and robust cash flows", according to a Bank of America (BofA) report.
'The real story of 2025 is that India officially stopped being a 'market of the future' and started acting as the world's primary economic engine.'
Among Sensex firms, Tata Motors, Bharat Electronics, UltraTech Cement, Tech Mahindra, Mahindra & Mahindra, ICICI Bank, Tata Consultancy Services and Axis Bank were the major laggards. However, Power Grid, Hindustan Unilever, NTPC and HCL Tech were among the gainers.
From the 30-share blue-chip pack, IndusInd Bank, NTPC, UltraTech Cement, Sun Pharma, Axis Bank, State Bank of India, Tata Steel, Power Grid, Adani Ports and Kotak Mahindra Bank were among the major laggards. Tata Consultancy Services jumped nearly 6 per cent after the IT services company reported an 11.95 per cent jump in the December quarter net profit to Rs 12,380 crore. Tech Mahindra, HCL Tech, Infosys and Bajaj Finserv were the other big gainers.
Quarterly earnings, macroeconomic data announcements and global trends will drive the Indian stock markets in a holiday-shortened week, analysts said. Stock markets would remain closed on Wednesday for the Guru Nanak Gurpurab holiday.
Investors will take cues from the December quarter corporate earnings, with blue-chips like Infosys, Reliance Industries scheduled to report their results this week, in addition, inflation data and trading activity of foreign investors will also be crucial in dictating market trends, analysts said.
From the Sensex firms, Mahindra & Mahindra, HCL Tech, Tata Motors, Nestle, ITC, Hindustan Unilever, Larsen & Toubro, and Tech Mahindra were the biggest gainers. In contrast, Eternal, UltraTech Cement, Power Grid, Tata Steel and Kotak Mahindra Bank were among the laggards. Eternal dropped 4.51 per cent.
The rupee is undervalued as compared to its peers, shows the latest data from the Reserve Bank of India (RBI), even as the local currency keeps hitting new lows.
The Reserve Bank of India's (RBI's) $10 billion US dollar-rupee buy-sell swap auction for three years received bids worth $16.23 billion on Friday, reflecting robust demand amid persistent liquidity deficit in the banking system. This was the second swap auction by the central bank after it infused $5 billion via six month-swap on January 31.
This is the longest winning streak for gold in the last three decades.
The exodus of FPIs from the Indian equity markets continued unabated, as they withdrew over Rs 7,300 crore (about $840 million) in the first week of this month due to global trade tensions, with the US imposing tariffs on countries such as Canada, Mexico, and China. This came following an outflow of Rs 78,027 crore in the entire January. Before that, they invested Rs 15,446 crore in December, data with the depositories showed.
Trading activity of foreign investors and global trends will be the major driving factors for the equity markets in a holiday-shortened week ahead, according to analysts. Leading stock exchanges BSE and NSE have declared a trading holiday on November 20 for assembly elections in Maharashtra. Elections to the 288-member state legislative assembly will be held on November 20, and votes will be counted on November 23.
'It's better to stay away from large IT stocks until there is clarity on tariffs.'
Global trends, macroeconomic announcements and US tariff developments are expected to drive stock markets in a holiday-shortened week, analysts said. Market participants will also closely track foreign investor activity, geopolitical tensions, and their impact on the US dollar and crude oil prices, they added.
The US Fed interest rate decision, trading activity of foreign investors and quarterly earnings from corporates would largely drive the momentum in the equity market this week, analysts said. Escalating tensions between India and Pakistan over the Pahalgam terror attack will also remain on investors' radar, they added.
Shares of Oil marketing companies (OMCs) extended their gains for the fourth consecutive session on Thursday after crude oil prices plunged to six-month lows in the international markets, which boosted investor sentiments. Traders said the OMC stocks gained with crude oil prices hovering below $70 per barrel after OPEC-plus decision to increase output from April, a move which is expected to favour Indian refiners with added marketing margins on retail fuel.
Global trends, tariff-related updates and trading activity of foreign investors would be the key drivers for the equity market movement this week, analysts said. Markets witnessed a strong rebound last week, with the benchmark indices surging over 4 per cent.
Reserve Bank Governor Sanjay Malhotra on Friday said the exchange rate policy has remained consistent over the years and the central bank does not target any 'specific level or band' of the rupee, which slipped to an all-time low of 87.59 to a US dollar. On Thursday, the rupee plunged 16 paise to close at a record low of 87.59 against the American currency. "I would like to mention here that the Reserve Bank's exchange rate policy has remained consistent over the years.
The Indian rupee depreciated a modest 2.9 per cent in the first nine months of the current fiscal, performing better than other currencies like the Canadian Dollar, South Korean Won and the Brazilian Real, according to the Economic Survey tabled in Parliament on Friday. The value of the Indian Rupee (INR) is market-determined, with no target or specific level or band.
From the Sensex pack, Asian Paints, NTPC, Reliance Industries, Tata Steel, Bajaj Finserv, Hindustan Unilever, Sun Pharmaceuticals, Adani Ports & SEZ, Axis Bank, Tata Consultancy Services, Titan and Bajaj Finance were the major gainers. Tech Mahindra, Kotak Mahindra Bank, Zomato, Tata Motors, and IndusInd Bank were the laggards.
The stock of mid-tier information technology (IT) major Persistent Systems has been one of the outperformers in the IT pack with a return of 5.3 per cent over the last year, while its peer index, the Nifty IT, is down 16.2 per cent over the same period. The strong September quarter (Q2FY26) result and upgrades by brokerages are positive but its ability to sustain growth momentum in a weak macroeconomic environment will be key for future gains. At the current levels, the stock is trading at a premium valuation of 38 times its FY27 earnings estimates.
'I don't see 88 per dollar now.'
Foreign investors continue to pull back money from the Indian equity market withdrawing a little over Rs 30,000 crore in the first fortnight of the month amid escalation in global trade tensions. This came following an outflow of Rs 34,574 crore from equities in February and Rs 78,027 crore in January.
Bajaj Finance was the biggest gainer in the Sensex pack, rising 2.70 per cent, followed by Power Grid, IndusInd Bank, NTPC, Bharti Airtel, ITC, Bajaj Finserv, Infosys, Nestle, Tata Steel, Tata Consultancy Services, Titan and Axis Bank. Reliance Industries, Mahindra & Mahindra, Maruti and State Bank of India were among the laggards.
