The Times of India

Stock market today: Nifty50 and BSE Sensex, the equity benchmark indices, started Wednesday on a negative note, slipping in trade. While Nifty50 was near 25,650, BSE Sensex was down over 120 points.

Asian markets mostly rose, led by Japanese stocks extending a record rally amid a weaker yen. US stocks retreated as banking shares fell after JPMorgan's earnings missed guidance. Investors await a Supreme Court ruling on Trump's tariffs and a heavy bank earnings slate, while inflation data reinforces expectations of a Fed rate pause.

CEO: India Is Attractive For AI Training As Data Centre Costs 30% Cheaper Than West

Budget 2026 for defence: According to FICCI, enhancing defence spending is essential with a higher capital outlay within a steadily rising defence budget and a significant boost in funding for DRDO to accelerate modernisation and indigenous technology development.

The US Commerce Department has signaled a policy shift, approving Nvidia to export its H200 AI chips to China under strict conditions. This move allows for case-by-case licensing reviews instead of automatic rejections for these advanced processors, though the most cutting-edge chips remain off-limits.

Stock market recommendations: Mehul Kothari of Anand Rathi Shares and Stock Brokers recommends buying SJVN, JSW Energy, and Rail Vikas Nigam Ltd. as top stock picks for today.

Representatives of Venezuela's state oil company PDVSA said Tuesday they had appealed the US-forced sale of its prized Houston-based subsidiary Citgo to pay off creditors. Citgo is in the crosshairs of creditors seeking the settlement of debts in excess of $20 billion that cash-strapped Caracas has been unable or unwilling to pay.

US President Trump visited a Ford assembly line in Michigan to promote his manufacturing agenda amidst voter concerns about jobs and the cost of living. He highlighted economic accomplishments and tariffs, aiming to counter anxieties despite recent election results suggesting voter skepticism. The visit also coincided with shifts in electric vehicle policies.

Bengaluru-based Liquidnitro Games has secured $19.1 million in Series A funding, led by Northpoint Capital, to boost its AI-driven game development and global expansion. The investment will accelerate their proprietary platform, scale publisher partnerships, and enter new markets like India and Southeast Asia. This funding aims to revolutionize game production and live services.

Deloitte India suggests the upcoming Union Budget should boost domestic manufacturing and exports by rationalizing import duties and increasing budgetary allocations. The consulting firm advocates for a balanced customs duty structure, encouraging domestic value addition and exports. Reforms to SEZ regimes and extended manufacturing programs are also proposed to enhance competitiveness and support Indian exporters in global markets.

Indian markets saw a cautious start as Wall Street edged lower amidst a mixed earnings season and expected inflation data. Major indices like the S&P 500 and Dow Jones experienced slight declines. While some companies disappointed, others like Revvity and Cardinal Health boosted outlooks, offering pockets of optimism. Inflation figures remained steady, keeping hopes for interest rate cuts alive.

Reliance Industries is considering resuming Venezuelan crude oil purchases if non-US buyers are permitted, awaiting regulatory clarity. Other Indian refiners like Indian Oil Corp and Hindustan Petroleum Corp are also open to Venezuelan oil under similar conditions. This potential shift comes as India faces pressure to reduce Russian oil imports.

Indian tax authorities have highlighted significant risks associated with virtual digital assets like crypto, echoing the Reserve Bank of India's concerns. The anonymous and borderless nature of these assets, coupled with offshore platforms, makes tracking taxable income and beneficial owners extremely difficult. Jurisdictional challenges further complicate tax recovery, prompting authorities to implement safeguards like TDS and mandatory registration.