The Economic Times News

Howard Marks says AI may be a transformational inflection bubble, urging investors to avoid going all-in or all-out. He highlights soaring valuations, circular financing, rising leverage, speculative behaviour and past bubble patterns, advising moderation, prudence and selective exposure amid massive uncertainty.

Indias Commerce Secretary Rajesh Agrawal met U.S. Deputy Trade Representative Rick Switzer in New Delhi to advance negotiations on a bilateral trade agreement, the government said. India is seeking relief from steep U.S. tariffs imposed over its Russian oil purchases, which have hit key exports.

Vikas Khemani warns that nearly 80% of upcoming IPOs are poor-quality businesses, saying only a handful are worth investor attention. With Indias IPO pipeline touching $20 billion annually, he cautions that supply is outpacing fundamentals, valuations are stretched, and investors must be far more selective amid shrinking listing gains.

Brookfield India Real Estate Trust has raised Rs 3,500 crore by selling units to investors and will use this amount to fund the acquisition of a property in Bengaluru.

SBI Mutual Fund, the biggest fund house, has initiated the process for the appointment of merchant bankers and other service providers to facilitate an initial public offering (IPO).

Shares of EMS companies Dixon, Amber, and PG Electroplast declined sharply on Wednesday, tracking the fall in Kaynes Technology and extending the sectors recent weakness. Dixon led the slide, plunging over 9% intradayits biggest drop since Januarybefore ending down more than 8%, with trading volumes surging to over triple the 20-day average.

In a recent note, domestic brokerage firm Kotak Securities has projected a bull case target of 32,032 for the Nifty 50 index by December 2026, suggesting meaningful upside potential from current levels, highlighting a preference for BFSI, and IT sectors, among others.

Global investors including Temasek and Capital Group, along with major Indian asset managers such as SBI MF, ICICI Prudential, and HDFC AMC, have placed bids to buy shares in Swiggy as the company seeks fresh funding a year after its listing. Other global players like Fidelity, BlackRock, and Nomura have also participated in the $1.1 billion offer.

The Indian rupee slipped on Wednesday, ending a session of back-and-forth price action shaped by portfolio flows, likely maturity of positions in the non-deliverable forwards market and caution ahead of the Federal Reserve's policy decision.

Vietnam's State Treasury raised 7.95 trillion dong ($302 million) in a weekly government bond auction on Wednesday, up from $298 million raised last week, with the coupon for 10-year bonds hitting the highest this year.

Germany's 10-year borrowing costs hit fresh multi-month highs on Wednesday as traders price out any chance of further European Central Bank rate cuts, while looking ahead to an important Federal Reserve meeting later in the day.

The S&P BSE Sensex declined 275 points, or 0.32%, to end at 84,391.27, while the NSE Nifty 50 shed 82 points, or 0.32%, closing at 25,758.

SBI Cap Securities Sunny Agrawal assesses the market debuts of Meesho, Aequs and Vidya Wires, calling Meeshos 45% listing gain strong but advising a tracking position as profitability levers unfold. He sees Aequs as a niche, high-margin long-term aerospace play, while urging investors to book profits in Vidya Wires and wait for earnings clarity before taking long-term exposure.

Park Medi Worlds IPO, valuing the hospital chain at Rs 920 crore, saw a 39% subscription on Day 1. Trading at a grey market premium of Rs 21-22, the IPO is seeing decent in the grey market as well. Proceeds from the IPO will be to fund debt repayment, hospital expansion, and acquisitions. Analysts broadly have assigned a Subscribe for the IPO with a long-term vision citing strong healthcare growth prospects.

Five stocks currently trade at among the lowest price-to-earnings levels, indicating relatively inexpensive valuations. Power Finance Corporation leads, followed by REC, LIC Housing Finance, Bank of Maharashtra and Bharat Petroleum. Strong mutual fund holdings and Value Research ratings highlight continued institutional confidence despite subdued valuation multiples.

Eleven high-momentum Indian stocks surged over 50% in three months, with three turning into multibaggers, highlighting standout performers amid broader market volatility.

India and the EU are nearing a free trade agreement, with a rough outline now prepared. Commerce Minister Piyush Goyal expressed confidence in an early conclusion, noting positive discussions with EU officials. Both sides are committed to finalizing the deal, which could significantly boost bilateral trade in goods and services, impacting sectors like automobiles and pharmaceuticals.

US Fed December 2025 Meet: The US Federal Reserve has begun its two-day policy meeting, with the rate decision due Wednesday. After a 25 bps cut in October that brought rates to 3.75%4.00%, global markets are watching to see if the Fed continues easing, as any move will influence borrowing costs and capital flows worldwide.

Nephrocare Health IPO consists of a 353-crore fresh issue and a 518-crore offer for sale. Of the fresh issue funds, Nephrocare Health Services intends to use 129.1 crore to set up new dialysis centres, 136 crore to repay debt, with the balance earmarked for general corporate needs.

Indian markets are struggling to maintain gains despite positive domestic news. Global factors and foreign selling are creating caution. Short-term traders are advised to reduce leverage and hedge portfolios. Long-term investors can find opportunities in specific sectors like metals. Stocks like Vedanta and Motherson are highlighted for potential.

There are 74 ghost shopping centres -- those with vacancy of more than 40 per cent -- out of 365 such retail properties across the top 32 cities, according to Knight Frank.

India's economic growth forecast for FY26 has been boosted to 7.2 percent by the Asian Development Bank. This upgrade is driven by robust domestic consumption, supported by recent tax cuts. Manufacturing and services sectors are showing firm gains. The Reserve Bank of India also increased its growth estimate.

European shares inched lower on Wednesday, as investors refrained from placing big bets ahead of the U.S. Federal Reserve's interest rate decision, while also parsing through a slate of corporate updates.

India and the US are progressing in talks on a bilateral trade agreement (BTA), with US officials visiting New Delhi for two-day negotiations. The discussions, led by Indias Rajesh Agrawal and US counterparts Rick Switzer and Brendan Lynch, aim to finalise the first tranche of the pact, address high US tariffs on Indian goods, and boost bilateral trade from USD 191 billion to USD 500 billion by 2030.

Meesho is democratizing internet commerce in India. The company aims to bring millions of businesses and hundreds of millions of consumers online. Meesho's strategy focuses on scale and inclusivity. This approach is powered by platform dynamics and network effects. The company prioritizes long-term growth over short-term profits. Meesho's vision remains focused on the massive opportunity ahead.

Renaissance Investment Managers CIO Pankaj Murarka expects Indian markets to deliver low-teens returns as growth resets and valuations peak. He sees earnings improving in CY26, prefers cash-flow-rich sectors, and remains bullish on IT amid AI-driven demand. Murarka warns of froth in midcaps, defence and EMS, urges caution on IndiGo for now, and remains selective on pricey consumer-tech IPOs.

The echoes of success resonate throughout Dubai, as Danube Group announces the total sell-out of their landmark project, 'SHAHRUKHZ by Danube'. This striking commercial tower, lining the iconic Sheikh Zayed Road, has generated a remarkable revenue of over Rs 5,000 crore, underscoring the vibrant demand for commercial real estate in the emirate.

Japan's Topix stock index reached an unprecedented high on Wednesday before paring gains. Investors are closely watching central bank decisions in Japan and the United States. A weaker yen boosted Japanese automakers like Honda and Toyota. The market's direction hinges on the continuing depreciation of the yen.

Australian shares closed marginally lower as caution over a higher-for-longer interest rate outlook and the upcoming U.S. Fed decision weighed on sentiment. Miners provided some support, but losses in financials, real estate, and technology sectors led the broader market down. Investors await the U.S. Federal Reserve's policy announcement for further direction.

Vidya Wires shares surged 12% after a flat debut, listing at its IPO price of Rs 52. The Rs 300-crore IPO saw strong demand, with investors advised to hold for medium to long term, especially if capacity utilization and margins improve. The company benefits from growing power sector investments and a diversified product portfolio.

Kaynes Technology slipped 6% on Wednesday, reversing yesterdays brief rebound and extending a bruising week-long slide triggered by governance concerns and fresh caution from Kotak Securities. With the stock now down 23% in a week and 46% this year, investors are weighing whether the correction offers value or signals deeper structural risks, as analysts flag fragile technicals, elevated working capital and unresolved disclosure issues.

The US stock market in 2025 experienced significant ups and downs. Technology and AI companies led the charge, driving major indices to strong year-end gains. Despite initial fears of trade wars, the market recovered quickly. Investors are advised to focus on diversification and long-term discipline as global trends continue to influence markets.

The US Federal Reserve is widely expected to announce a 25 bps rate cut on Wednesday, its final policy decision of the year. Policymakers face the challenge of balancing a weakening labor market and tariff-driven inflation against a resilient economy, with key economic data delayed due to the government shutdown.

Bitcoin and Ethereum surged ahead of the US Fed policy outcome, with Bitcoin nearing $92,000 and Ethereum jumping nearly 7%. Major altcoins also saw significant gains, contributing to a rise in global crypto market capitalization. Analysts anticipate a liquidity-driven rally if the Fed signals a dovish stance.

Newly listed Meesho received its first analyst rating, with Choice Institutional Equities initiating coverage with a BUY call and Rs 200 target. The brokerage expects strong revenue growth, improving unit economics and a faster path to profitability, while highlighting COD dependence, logistics complexity and competitive pressure as key execution risks.

Investors are now prioritizing profitability and competitive advantages in India's digital sector, moving beyond just tech-enabled listings. Parag Thakkar highlights Lenskart for its profitability and market potential, and expresses optimism for Tata Capital due to its growth and brand.

Copper prices in India rose nearly 1% to Rs 1,089.20/kg, tracking international gains ahead of the US Federal Reserves policy decision. On COMEX, copper climbed 0.85% to $5.365/lb as markets anticipated a 25 bps rate change by the FOMC.

Indias real estate investment market is evolving with listed REITs and SM REITs, offering retail investors scalable, income-generating exposure to prime commercial assets. With transparency, liquidity, and professional management, these trusts are transforming real estate from high-friction, ownership-driven investing into a regulated, efficient, and accessible investment avenue for individual and institutional investors alike.

Indian equity markets saw sharp swings this week. Fund manager Parag Thakkar shares his approach to this volatility. He focuses on buying quality stocks that have been unfairly sold off. Thakkar highlights companies like Elgi Equipments and Granules. He also notes promoter buying as a positive signal. He advises investors to avoid stocks with high valuations.

Tourism stocks have slumped up to 46% in six months, hit by rupee weakness and IndiGos flight disruptions. Analysts see the downturn as short-term, advising investors to stay selective, focus on strong sector leaders, and explore opportunities like Ixigo, while monitoring operational recovery and currency-related pressures.

The Centre has approved road projects worth Rs 44,771 crore for Odisha, including the improvement of national and state highways and a new thoroughfare between Bhubaneswar and Paradip.

Ola Electric's stock has seen a significant drop this year. Shares have fallen sharply, reaching a new low. Foreign investors have reduced their stake, while Indian mutual funds have increased theirs. The company continues to report losses and declining sales. Promoters have also pledged some of their shares.

Silver has surged to fresh all-time highs on MCX and COMEX, fuelled by supply constraints, heavy ETF inflows and expectations of a U.S. Fed rate cut. Analysts say the metal has entered parabolic territory, with domestic prices eyeing the Rs 2 lakh mark as momentum strengthens and support levels hold firm.

Aequs shares rallied post-listing, extending initial gains after a strong IPO. Experts suggest a balanced strategy for allotted investors, recommending partial profit booking while holding for long-term upside. The company's integrated aerospace manufacturing and global customer base are key strengths, despite uneven financial performance.

Jefferies has revamped its India model portfolio for 2026, adding six stocks across banking, energy, autos and real estate as it doubles down on value, earnings momentum and sector-specific tailwinds.

The Federal Reserves current meeting is shaping up as one of the most contentious in years, with markets heavily pricing in a rate cut amid divided policymakers. Investor uncertainty has been fueled by a record U.S. government shutdown, mixed Fed signals, and pressure from the Trump administration for lower borrowing costs.

Meesho delivered a blockbuster debut on Dalal Street, listing with a 46% premium and climbing as much as 7% on day one. With strong subscription momentum, heavy institutional demand and bullish analyst views, the stocks surge has left investors weighing whether to book profits, stay invested or buy more. Analysts point to Meeshos deep penetration in value-driven markets and improving economics, but warn of rising competition and profitability challenges. Heres what you need to know before decidi

Indian government bonds saw a rebound on Wednesday. This followed a two-day decline driven by foreign investors selling positions. Concerns over fewer domestic interest rate cuts also impacted sentiment. The benchmark 10-year yield moved lower. Overseas investors have been net sellers recently. Traders noted offshore paying in overnight index swaps. Market participants await the U.S. Federal Reserve's policy decision.

The US Federal Reserve braces for a turbulent 2026. Key leadership changes are expected with a new Chair to be named. Political influence and public scrutiny could test the central bank's independence. Structural factors may slow reshaping efforts. A legal battle over Governor Lisa Cook's position adds another variable. Regional Fed presidents also face scrutiny and reappointment decisions.

Kevin Hassett is emerging as the leading contender to succeed Jerome Powell as U.S. Federal Reserve chair. The selection comes amid political pressure from President Trump for faster rate cuts. Hassett has signaled support for further monetary easing but noted adjustments may be needed if inflation rises sharply.