The Indian market concluded the week on a higher note with sectoral strength, policy support, and corporate activities influencing investor sentiment. Benchmark indices continued to rise even against the mixed overseas cues.
- Sensex: 79,809
- Nifty 50: 24,426
- Bank Nifty: 53,655
- Crude Oil: $68.24 per barrel
- INR: 1 USD = ₹87.75
- US Dollar Index (DXY): 98.12
- US 10-Year Bond Yield: 4.23%
- India VIX: 11.81
- Gold: ₹1,02,600
- Silver: ₹1,16,900
- FII Activity: Net sell-off of ₹3,857 crore
- DII Activity: Net inflows of ₹6,920 crore
Base metals were bullish, supporting metal and industrial stocks, while precious metals such as gold and silver were at highs.
- US Markets: Communication and tech shares rallied with Alphabet leading the rally, while healthcare and consumer staples trailed.
- US GDP Growth: At an estimated 3.3%, which was better than expected.
- Jobless Claims: Fell to 2.9%, an indication of labor market strength.
- Imports: Fell, an indicator of weak trade activity.
- Fed Chair Contendership: Christopher Waller came into focus as one of the front-runners, shaping opinions regarding consistency in monetary policy.
- 1. Infosys–Mastercard Cross-Border Payments Agreement
- Infosys has initiated a strategic partnership with Mastercard for cross-border payments in 200 nations and 150 currencies. This comes on top of Infosys's further strengthening of its global fintech foothold.
- 2. Groww IPO Receives SEBI Clearance
- Groww, an investment and wealth management platform, got SEBI nod for its much-awaited IPO. The listing can provide a fillip to fintech valuations on Dalal Street.
- 3. Muthoot Finance Investment
- Muthoot Finance will invest ₹500 crore in Muthoot Money, increasing its capital adequacy ratio and lending ability.
- 4. NTPC's Coal Mining Transfer
- NTPC will hive off its coal mining business to subsidiary NTPC Mining Ltd. The phased deal is worth ₹10,503 crore, compared with annual revenues of ₹7,700 crore currently from mining.
- 5. CG Power Semiconductor Facility
- CG Power & Industrial Solutions' division CG Semi dedicated India's first-ever full-service OSAT (Outsourced Semiconductor Assembly and Testing) facility in Sanand, Gujarat — the game-changer for India's semiconductor dream.
- 6. Lemon Tree Expansion
- Lemon Tree Hotels entered into a license agreement for a 98-room Dehradun Mokhampur hotel, strengthening its presence in Uttarakhand's hospitality sector.
- 7. Kitex Garments – Armani Unit
- Kitex Garments announced that production of Armani has been initiated at Warangal, increasing textile and export opportunities.
- 8. RBL Bank Stake Sale
- Societe Generale bought 32.78 lakh RBL Bank shares at an average cost of ₹250.57, indicating the revival of foreign investor confidence in mid-cap banks.
- 9. ABB Order Win
- ABB India secured an order worth ₹174 crore to provide from Siemens Gamesa, reinforcing its power transmission and renewable business.
GST Council suggested significant rate cuts affecting various sectors:
- Fertilizer Acid & Bio-Pesticides: Cut from 12% / 18% to 5% → Favorites are UPL, PI Industries, Rallis.
- Textiles & Apparel: Cut from 12% to 5% → Favorites are V-Mart, Vishal Mega Mart, Vardhman Textile, Arvind, Raymond, Page Industries, Welspun.
- Renewable Energy Equipment: Cut from 12% to 5% → Favourable for Adani Green, KPI Green, Sterling Wilson, Tata Power.
- Footwear Industry:
- Above ₹2,500: Increased to 18% from 12%.
- Below ₹2,500: Cut to 5% from 12%.
- Market leaders: Bata, Relaxo, Campus, Metro Shoes.
Zydus Lifesciences: Announced positive Phase 3 trial data for Saroglitazaar Magnesium, a drug for stomach disease. This surge reinforces its drug pipeline.
- Indian markets stayed immune to FII outflows due to robust DII buying.
- Policy tailwinds through GST rate reductions will drive consumption, textiles, renewables, and agri-related sectors.
- Synchronized improvement in corporate action across sectors like technology, hospitality, banking, and manufacturing.
- Global investors are observing Fed leadership politics, US economic supremacy, and commodity price action.
Near-term prospects for Indian equities are also upbeat, with sector rotation towards metals, renoables, and finance. Nevertheless, the investors should still remain wary of global macro risks, crude price action, as well as continued FII outflows.