The Times of India News

Global oil prices saw a slight increase on the first trading day of 2026, recovering from a significant annual decline. This uptick was driven by renewed geopolitical tensions, including Ukrainian drone strikes on Russian oil facilities and fresh US sanctions impacting Venezuelan exports. Despite these immediate concerns, the market remains cautious due to persistent oversupply worries.

Stock market recommendations: Bajaj Broking Research recommends Canara Bank, and Nykaa as the top stock picks for January 2, 2026. It also shares its views on Nifty and Bank Nifty.

Deposit outflows in early December, driven by tax payments, widened the credit-deposit gap for scheduled banks. Despite a year-on-year deposit growth of 9.4%, deposits fell by Rs 1.7 lakh crore in a fortnight. Banks are resorting to RBI borrowings and asset liquidation to fund strong credit expansion.

Banks can now independently manage National Pension System (NPS) assets, as PFRDA approved a framework to boost competition and protect subscribers. Eligible banks must meet stringent net worth and soundness criteria. Additionally, the regulator revised investment management fees for pension funds and appointed new trustees to the NPS Trust Board, including former SBI chairman Dinesh Kumar Khara as chairperson.

Fueled by tax cuts and a strong monsoon, India's passenger vehicle market achieved record sales in 2025. Maruti Suzuki led with robust growth and exports, while Tata Motors surpassed Hyundai to become the second-largest player. Mahindra & Mahindra saw peak SUV volumes, with industry executives attributing the surge to GST reductions and government IT relief boosting purchasing power.

Job loss will now come with a financial boost for reskilling. Under new draft rules, retrenched employees will receive funds equivalent to 15 days' wages within 45 days of losing their job. This initiative aims to institutionalize skilling and support workers transitioning to new roles. Employers must also prioritize rehiring previously retrenched staff for similar vacancies.

Gig and platform workers must be engaged for at least 90 days with an aggregator in a financial year to qualify for social security benefits under the new Social Security Code. This threshold increases to 120 days for workers engaged with multiple aggregators. The rules also outline registration requirements and the formation of a National Social Security Board.

The Reserve Bank of India's Financial Stability Report highlights emerging structural pressures in the insurance sector, noting that premium growth is increasingly driven by high-cost distribution strategies rather than operating efficiency. While the sector remains stable in the near term, elevated expenses could weaken profitability and necessitate a shift towards cost rationalization and technology-enabled distribution for long-term resilience.

Banks can now independently manage the National Pension System (NPS) as the PFRDA approves a new framework to boost competition and protect subscribers. This move, alongside revised investment fee structures and new NPS Trust board appointments, aims to create a more robust and competitive pension ecosystem for improved retirement security.

The National Financial Reporting Authority (NFRA) has launched its second Audit Practice Toolkit, focusing on revenue risk assessment for small and medium audit practitioners. This initiative aims to enhance audit quality by providing a practical guide for identifying and assessing material misstatements in revenue.

Company directors in India now face a simplified annual KYC filing, shifting to a triennial requirement under the Companies Act, 2013. This move, effective March 31, 2026, eases compliance burdens. A new, comprehensive KYC form will also facilitate updates to personal details and DIN reactivation, benefiting all directors.

Global investment prospects are set to expand significantly in 2026. Franklin Templeton predicts a shift away from US market dominance. Easing monetary policies and a weaker US dollar will drive this change. Profit growth outside America will also fuel capital flows.

The Reserve Bank of India announced that 98.41% of the Rs 2,000 banknotes, initially valued at Rs 3.56 lakh crore, have been returned to the banking system. As of December 31, 2025, only Rs 5,669 crore of these notes remain in circulation.

Indian passenger vehicle sales reached a record 45.5 lakh units in 2025. This growth of nearly 6 percent was boosted by policy tailwinds in the second half. Several manufacturers like Maruti Suzuki, Mahindra & Mahindra, and Tata Motors achieved their highest annual sales.

Millions of Americans will now face significantly higher healthcare costs as enhanced Affordable Care Act tax credits expired January 1, 2026. Over 20 million individuals are impacted, with average premiums more than doubling. Despite bipartisan efforts, a legislative solution remains elusive, leaving many to consider dropping coverage or absorbing increased expenses.

The Indian rupee opened 2026 on a weak note, slipping 10 paise to close at 89.98 against the US dollar. Sustained foreign fund outflows and a subdued domestic equity market pressured investor sentiment, with the currency facing continued pressure from capital withdrawals and importer demand.

Delhi government is set to introduce the Pink Saheli card in early 2026, making it mandatory for women to avail free rides on DTC buses. This smart card aims to enhance transparency and efficiency in the scheme, replacing paper tickets.

India's first bullet train is slated for a 2027 launch, with the Surat to Bilimora section opening first. The ambitious Mumbai-Ahmedabad corridor, developed with Japan, promises speeds up to 320 kmph, drastically cutting travel time. Additionally, the first Vande Bharat sleeper train will debut in January 2026, offering comfortable overnight journeys.

Taxpayers are facing higher tax outgo due to incorrect regime choices, often stemming from misunderstandings of exemptions and documentation. Experts advise projecting liabilities under both regimes, with high HRA and rent payments favoring the old system, while low rent benefits the new.

BSNL has launched its Voice over Wi-Fi (VoWiFi) service nationwide from January 1, 2026, enabling subscribers to make and receive calls and messages over any Wi-Fi network at no extra cost. This initiative aims to enhance call quality and reliability, particularly in indoor and remote areas with limited mobile coverage, while also reducing network congestion.

The first Vande Bharat sleeper train will run between Guwahati and Kolkata, Ashwini Vaishnaw announced on Thursday. Each Vande Bharat sleeper train has 16 coaches. The composition of the coaches is: 11 AC 3-tier, 4 AC 2-tier, and one AC 1st coach. The train can accommodate 823 passengers.

Tobacco stocks experienced a sharp decline as the finance ministry formalized February 1st as the date for imposing additional excise duty on tobacco products and a health cess on pan masala. This move, replacing the existing GST compensation cess, will necessitate price increases for major cigarette manufacturers like ITC and Godfrey Phillips India.

Starting February 1, tobacco and pan masala products will face new taxes. The government is introducing additional excise duties and a health cess, replacing the existing GST compensation cess. Pan masala will be taxed at 40% GST plus a new cess, while biris will attract 18% GST.

The United States has granted a majority-Russian-owned Serbian oil company a temporary reprieve from sanctions targeting Moscow's invasion of Ukraine, a Serbian minister said on Wednesday. According to the Serbian national broadcaster RTS, Hungarian Prime Minister Viktor Orban was involved in discussions between Vucic and the US State Department earlier Wednesday, while the Hungarian firm MOL is in negotiations to buy the Russian portion of NIS's shares.

Gold price prediction: According to Abhilash Koikkara of Nuvama Professional Clients Group, MCX Gold is expected to maintain its positive bias unless there is a clear and decisive break below the 132,000 support level.

The Indian Rupee began 2026 on a weak footing, depreciating significantly against the US dollar due to sustained foreign fund outflows and trade uncertainties. Despite India's steady growth, capital flows have faltered, making the rupee vulnerable. Analysts anticipate continued volatility, with the currency facing pressure from global investor caution and tariff disruptions.

Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in green on the first trading session of the New Year 2026. While Nifty50 went above 26,150, BSE Sensex was up over 100 points.

The domestic natural gas consumption is expected to rebound and grow by 3-4 per cent year-on-year in FY2027 after witnessing a phase of near-term moderation in FY2026, according to a report by ICRA.

Venezuela, currently in the throes of an escalating crisis with the United States, closed the books Wednesday on a complicated year for its economy, with the official cost of buying a US dollar up 479 percent in the last 12 months. The gap between the official and black market rate is mounting as well, nearing 100 percent in an economy that has become increasingly dollarized as a way to tackle hyperinflation.

Top stock market recommendations: Aakash K Hindocha of Nuvama Professional Clients Group recommends buying BHEL, IOC, and Gujarat Mineral Development Corporation. He also shares his views on Nifty and Bank Nifty.

Soaring global demand for semiconductors sent South Korea's exports to their highest-ever level in 2025, official data showed Thursday, despite a year of trade turmoil sparked by US President Donald Trump's tariff onslaught. Cars, South Korea's other key export, also performed strongly, with auto shipments rising to $72 billion, the highest on record despite US tariff pressures.

The Centre has released draft rules for four new labour codes, outlining minimum wage calculations based on family needs and capping weekly working hours at 48. The rules also propose a national social security board for gig workers and clarify gratuity provisions, which will apply prospectively from November 21, 2025.

The Directorate General of Foreign Trade has launched the first component of its Export Promotion Mission, a Rs 4,531-crore market access support scheme for exporters. This initiative aims to help Indian businesses diversify into new product categories and markets, with a special focus on MSMEs and priority sectors like agriculture and handicrafts.

India's broadband subscriber base surpassed 100 crore in November 2025, reaching 100.4 crore. This marks a significant six-fold increase from 13.2 crore subscribers in November 2015. Jio leads the market with 51 crore subscribers, followed by Bharti Airtel with 31.4 crore.

Tata Group chairman N Chandrasekaran outlined a strategy to leverage India's dynamic economy amidst global uncertainty, focusing on AI, advanced manufacturing, and sustainability. He emphasized resilience against geopolitical and cybersecurity risks, highlighting opportunities for the group's future success and India's economic growth.

India's financial stability report for 2026 highlights domestic resilience amidst global uncertainty. While the banking system is sound, deeper financial linkages between banks and NBFCs amplify contagion risks. External spillovers from geopolitical and trade tensions, coupled with volatile global markets, pose the primary threats, impacting the rupee and increasing market stress.