The Times of India

It needs to be seen if SEBI, having generally recognised that family trust transfers made purely for succession purposes do not undermine investor protection, codifies the position by including in-laws

US stocks edged lower on Friday, concluding a turbulent week marked by tariff threats and reversals. Investors adopted a cautious stance amid limited clarity on trade and geopolitical signals. Markets were on track to end a second straight week with modest losses after sharp swings earlier in the week.

The Indian rupee hit an all-time low of 92 against the US dollar on Friday, pressured by foreign fund selling, weak domestic equities, and global risk aversion. It recovered slightly to close at 91.88, reflecting persistent FII outflows and global uncertainties. Rising crude oil prices and US treasury yields also contributed to the decline.

Stock market crash: Sensex and Nifty have fallen nearly 1% on Friday amid broad-based selling, a record-low rupee and persistent foreign outflows, dragging market sentiment despite supportive global cues.

Indian Oil Corporation is buying more crude oil from countries like Brazil. This move reduces dependence on Russian oil. Refiners are sourcing from the Middle East, Africa, and Latin America. This diversification strategy expands supplier options. India aims to secure diverse oil supplies for its needs.

In the backdrop of Donald Trump's tariff threats, uncertainty over India-US trade deal and rising geopolitical tensions, Finance Minister Nirmala Sitharamans Union Budget 2026 assumes significance. What are the risks to Indias robust and resilient growth story, and what can Budget 2026 do to mitigate them? We ask economists:

RBI is not among the largest holders of US government debt, with its exposure at about a quarter of Chinas nearly $683 billion holdings. Even so, Indias selling has added fresh momentum to discussions about the place of US sovereign bonds in global investment portfolios.

Gold and silver futures reached record highs on Friday, driven by investor demand for safe-haven assets. A weaker US dollar and anticipated Federal Reserve interest rate cuts further fueled the rally. Geopolitical tensions and economic uncertainty also contributed to the surge in bullion prices.

The Union Budget 2026 may maintain the fiscal deficit at 4.4% of GDP in FY27, according to Nuvama, as the economy shows fragile momentum. The government might focus on deregulation and disinvestments to support growth, rather than fiscal expansion, with a continued emphasis on sectors like semiconductors and AI.

Indian travelers face a more stringent visa process for China, with new online pre-approval stages and increased scrutiny of financial documents leading to longer processing times and higher rejection rates. Despite these hurdles, interest in diverse Chinese destinations beyond traditional tourist hubs is growing, fueled by improved flight connectivity.

The World Economic Forum is establishing five new Centres for the Fourth Industrial Revolution, including one in Andhra Pradesh, India. These centers will foster collaboration between governments, industry, and experts to develop policy frameworks and pilot projects for emerging technologies.

Industry leaders in pharma and MedTech are urging the government to establish a structured funding framework for R&D ahead of the Union Budget 2026. They emphasize the need for policy changes to reduce cost disadvantages, nurture local innovation, and promote preventive healthcare to achieve India's Viksit Bharat vision.

India was highlighted as a reliable long-term growth anchor at the World Economic Forum, with discussions focusing on geopolitical uncertainty and economic priorities. Leaders and investors recognized India's macroeconomic stability, large market, and reform momentum as key strengths.

Paytm shares tumbled nearly 10% amid speculation about the future of the Payment Infrastructure Development Fund (PIDF) scheme, which reportedly contributes significantly to its operating profit. The company clarified its recognition of PIDF incentives and its strategy to offset potential impacts. Meanwhile, Investec initiated coverage with a 'Buy' rating, citing strong fundamentals.

Amway India is urging the government to formally recognize food and dietary supplements as integral to wellness ahead of the Union Budget 2026. The company calls for rationalized customs duties on imported supplements and ingredients, advocating for tax relief for small direct sellers and increased support for clinical research to bolster India's health and wellness ecosystem.

NATHEALTH urges the government to increase public healthcare spending to over 2.5% of GDP in the Union Budget 2026, emphasizing the need to address the rising burden of non-communicable diseases. The industry body also proposed a Rs 50,000 crore healthcare infrastructure fund and tax deductions for preventive health check-ups to strengthen the sector and foster innovation.

Adani Group stocks tumbled today as the US SEC sought court approval to email summons to Gautam and Sagar Adani. This follows an alleged bribery scheme involving Indian officials for power purchase agreements. The Adani Group had denied the allegations.

Micron Technology's $2.75 billion semiconductor facility in Sanand, Gujarat, is set to begin commercial production by the end of February, with pilot production already underway. India is increasingly seen as a hub for advanced chip design and manufacturing, including complex two-nanometre nodes, supported by strategic global partnerships.

Gold price prediction today: Golds intraday construct is positive and investors can look to buy on dips, says Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities.

Plan your banking ahead! Indian banks will be closed for a four-day holiday from January 23rd to 26th. This includes state-specific holidays like Netaji Subhas Chandra Bose's birthday and Saraswati Puja, the fourth Saturday, Sunday, and Republic Day. While branches are shut, digital services like online banking and ATMs remain accessible for your financial needs.

The Indian Rupee strengthened today against the US Dollar. This rise follows a softening of tariff threats between the US and Europe. Traders noted improved investor sentiment. However, the Rupee still faces pressure from foreign fund outflows. Experts suggest a period of consolidation and possible recovery. The 92.00 level is a key resistance point.

Donald Trump celebrated a new deal for TikTok's US operations, now a majority American-owned joint venture, crediting himself for saving the platform. The agreement, which sees ByteDance retain a minority stake, aims to address national security concerns and avoid a ban for its 200 million American users.

Stock market today: Indian equity benchmarks, Nifty50 and BSE Sensex, opened flat in trade on Friday. While Nifty50 was near 25,250, BSE Sensex was down 50 points. At 9:17 AM, Nifty50 was trading at 25,263.15, down 27 points or 0.11%.

An estimated 60 percent of gold lending remains unregulated. Formal gold loans, by contrast, operate under clear regulatory guidelines and supervision.

Asian markets rose Friday, buoyed by strong US economic data and easing geopolitical tensions. Dollar weakness boosted safe-haven assets like gold and silver, while emerging markets saw significant inflows. Investor confidence returned to riskier assets amid positive US economic indicators and diplomatic progress between the US and Europe.

Stock market recommendations: Bajaj Broking Research recommends Gokaldas Exports, and Hindustan Unilever as stock picks for today. Heres its view on Nifty and Bank Nifty:

India's banks are seeing their deposit base struggle to keep up with surging commercial credit demand. While bank credit still dominates, its share in funding is shrinking as non-bank sources like NBFCs and bond markets gain prominence. This indicates a significant shift in how businesses are financed, with banks facing increasing pressure.

US regulators are seeking court permission to email summons directly to Indian billionaire Gautam Adani and an executive, after India twice refused to serve them. The SEC alleges fraud and a bribery scheme. Adani Group denies the claims, vowing to fight them. India cited procedural issues and questioned the SEC's authority for the rejections.

IndiGo's net profit plummeted 78% to Rs 549 crore in the December quarter, impacted by Rs 577 crore in operational disruptions and Rs 1,000 crore from labour code provisions. Despite flight cuts and fare caps, total income rose 6.7% to Rs 24,541 crore, with the airline carrying 12.4 crore passengers in 2025.

US private equity firm General Atlantic is acquiring a minority stake in Indian snack food maker Balaji Wafers for over Rs 2,000 crore. This investment values the Rajkot-based company at approximately Rs 35,000 crore. The deal aims to support Balaji Wafers' expansion, innovation, and professional team development as it targets an IPO in five years.

Fintech giant PhonePe is preparing for its stock market debut, aiming to raise Rs 12,000 crore. Major investors Tiger Global and Microsoft are fully exiting their stakes as Walmart, the majority owner, reduces its shareholding. This move marks the first Indian venture from Walmart to go public, following a confidential IPO filing last September.

India's exports to the EU will continue to enjoy preferential tariffs on a specific list of products until December 2028, following a renotification by the European Union. While some benefits have been reduced, this extension offers continued support. Furthermore, a potential India-EU Free Trade Agreement, expected soon, is poised to boost several labor-intensive sectors.

Indian missions are being instructed by the PMO and commerce department to prioritize trade engagement with all countries, regardless of current export size. This strategic shift aims to diversify India's export basket and import sources, with embassies tasked with identifying and pursuing opportunities in markets of all scales to build future growth.

US inflation stayed high in November, exceeding the Federal Reserve's target. This suggests policymakers will likely hold interest rates steady. Consumer spending showed strength, but economists warn of weakening fundamentals. The Fed is assessing earlier rate cuts and new trade pressures. Core inflation also remained elevated, indicating slow progress on price stability.

Eternal founder Deepinder Goyal has returned over Rs 1,000 crore in unvested ESOPs, expanding the company's pool by 16% to aid talent retention. This move coincides with Goyal stepping down as Group CEO to become Vice Chairman, with Blinkit's Albinder Dhindsa taking over as Group CEO. Goyal will focus on long-term strategy and governance, while Dhindsa leads daily operations.

US equities climbed on Thursday, recovering losses as President Trump eased tariff threats linked to Greenland. Major indices saw gains, extending a relief rally sparked by his softer tone at the World Economic Forum. Despite the rebound, indices remain lower for the week following earlier tariff concerns.

The US economy experienced its fastest growth in two years during the July-September quarter, fueled by strong consumer spending and a surge in exports. Despite this robust GDP expansion, job creation remained subdued, and persistent concerns over the high cost of living continue to impact public confidence.

What can Union Budget 2026 do to help India deal with the negative impact of Trumps tariff policies? Times of India Online asked economists and experts and heres what they had to say:

India's exports to the EU face significantly higher import tariffs from January 1, 2026, as the EU suspends GSP benefits for 87% of Indian goods. This withdrawal ends preferential access, impacting price-sensitive sectors like garments and coinciding with the EU's Carbon Border Adjustment Mechanism, creating a double pressure on exporters.