The Economic Times

Infosys American Depositary Receipts (ADRs) slumped more than 7% on Thursday, touching an intraday low of $14.59 in early trade, while Wipros ADRs fell 5.4% to $2.26. The sharp decline follows a steep sell-off in IT stocks on Indian exchanges, with weakness spilling over to Wall Street.

Market sentiment weakened amid heavy IT selling and strong US jobs data dampening rate-cut hopes. Nifty struggled near 26,000 and may consolidate between 25,500 and 26,000. Analysts advise selective stock picking, with buying interest in select counters despite negative breadth.

Restaurant Brands International reported fourth-quarter sales above estimates on Thursday, driven by strength in its international Burger King outlets, even as it tackles stiff competition for its value menus and higher commodity costs in the United States.

Nebius Group reported a sharp rise in quarterly capital spending on Thursday, driven by purchases of artificial intelligence processors and growing data center investments, as the AI cloud firm rushes to secure capacity to meet soaring demand.

Budget carrier SpiceJet reported a consolidated net loss of Rs 261.38 crore in the December-ended quarter compared to a net profit of Rs 20.43 crore in the year ago period. The profit after tax (PAT) is attributable to the owners of the holding company.

Tata Group-backed IHCL reported strong Q3 growth with higher revenue and net profit, aided by exceptional gains and robust hotel performance. The company marked its fifteenth straight record quarter, expanded its portfolio to 617 hotels and maintained healthy margins and cash reserves.

Muthoot Finance lifted its FY26 growth guidance to 4445% as strong gold loan demand and regulatory easing boosted momentum. Q3 standalone profit nearly doubled, aided by lower provisions and higher income. Assets under management and gold loans posted robust year-on-year growth.

India's central bank said on Thursday that the government has bought back bonds maturing in next fiscal year and issued longer-dated 2040 securities as part of a switch operation with it.

Nifty posted a second straight loss amid IT-led selling but stayed above its 20-day moving average, keeping recovery hopes alive. Analysts see resistance near 26,000 and support around 25,75025,500. Shriram Finance and Max Healthcare are recommended as tactical buy opportunities.

The number of Americans filing new applications for unemployment benefits decreased less than expected last week, but the decline was consistent with economists' view that the labor market was stabilizing after hitting a soft patch last year.

Zebra Technologies forecast 2026 sales and profit above Wall Street estimates on Thursday, banking on robust demand for its barcode scanners and communication devices, sending shares of the company up more than 17%.

LSEG said on Thursday it plans to build an on-chain settlement service for institutional investors called the LSEG Digital Securities Depository, which will connect traditional and digital securities markets.

Wall Street's main indexes inched higher on Thursday, a day after robust jobs growth and a dip in unemployment eased concerns around the U.S. economy, while investor attention turned to a slew of corporate earnings.

The government's 5 per cent stake sale in BHEL closed with 1.34 times over-subscription after receiving enthusiastic response from retail and institutional investors.

Bharat Forge on Thursday posted a 28 per cent increase in its consolidated net profit to Rs 273 crore for the third quarter ended December 2025.

Coal India Q3 results: State-owned Coal India on Thursday reported a 16% year-on-year (YoY) decline in its consolidated net profit at Rs 7,166 crore in the third quarter. The company has declared third interim dividend at Rs 5.5 per share for the financial year 2026.

The National Stock Exchange of India on Thursday said that it has appointed Rothschild & Co as an independent advisor to oversee its long-awaited initial public offering.

The UK has chosen HSBC's blockchain platform to run the country's pilot issuance of tokenised or digital government bonds, the bank said on Thursday, a move that puts Britain ahead of its G7 peers in exploring blockchain-based sovereign debt.

Indian government bonds rose on Thursday, as traders unwound their short positions after a January inflation reading that was lower than the market had feared. The 10-year 6.48% 2035 bond yield settled at 6.6833%, compared with 6.7088% on Wednesday.

Housing sales fell 10 per cent last year across 15 tier-II cities to 1.56 lakh units while remained flat in value terms at Rs 1.48 lakh crore, according to PropEquity.

Hindalco Q3 Results: Aditya Birla Group's flagship metal company Hindalco reported a 45% decline in its December quarter consolidated net profit at Rs 2,049 crore compared to Rs 3,735 crore posted in the year ago period.

Realty firm Experion Developers will invest Rs 1,500 crore to develop a housing project in Noida to expand its business.

Realty firm Spring House Workspaces has set up a new co-working centre in Noida, comprising 1,200 desks across 60,000 sq ft area, to meet rising demand of flexible managed office spaces from corporates.

Realty firm Smartworks Coworking Spaces Ltd has taken on lease 1.81 lakh sq ft office space in Mumbai to expand its portfolio amid rising demand for prime workspaces from corporates.

Indian benchmark indices closed lower on Thursday, dragged by heavy selling in IT stocks. Nifty and Sensex fell amid AI disruption concerns and fading US rate-cut hopes. Coforge, TCS and Infosys led losses, while Lenskart and Hindustan Copper gained on strong triggers.

Four commodity stocks SAIL, Sharda Cropchem, Jindal Steel and JSW Steel hit fresh 52-week highs, rallying up to 55% in just one month despite a weak broader market.

Mamaearth Q3 Results: The company's revenue from operations stood at Rs 602 crore in Q3FY26, recording a 16% growth versus Rs 518 crore in the October-December period of FY26.

Indian IT services firms face a growth slowdown due to Artificial Intelligence. AI tools reduce project effort, impacting billing. Large IT firms expect 5-6% revenue growth, while mid-cap firms anticipate 10-12%. Contract renewals may lead to pricing cuts. India's position as the world's software factory remains secure. Valuations may need adjustment in this new growth environment.

Institutions trimmed stakes in 10 major largecaps in Q3, signalling selective profit-taking and portfolio rebalancing across sectors.

SBI has overtaken TCS and Infosys in market valuea feat unimaginable five years ago, says Gurmeet Chadha. The surge reflects PSU banks sharp turnaround driven by better risk management and digitisation, even as IT stocks face heavy AI-led selling. Nifty IT has dropped 21% in a year, while PSU banks soar.

Indian stock markets are trading in a tight range. The Nifty index is finding it difficult to move past the 26,000 mark. Experts are advising investors to focus on specific stocks. Bajaj Finance and Hero MotoCorp are recommended for buying. Hindustan Unilever's outlook is cautious. Selective stock picking offers opportunities amidst consolidation.

India's electronics manufacturing sector is booming with 30% growth. Companies like Amber and Syrma are leading the charge. The industry is shifting towards higher-value industrial and automotive products. This trend is boosting profits and creating exciting investment opportunities. Investors are looking for companies with strong order books and margin improvement.

Hindustan Aeronautics Ltd (HAL) has announced a first interim dividend of 35 per share for FY26, with February 18, 2026 set as the record date and payment due by March 14. The company also reported strong Q3 results, with consolidated net profit rising 30% year-on-year to 1,867 crore and revenue from operations growing 11% to 7,699 crore.

JPMorgan also views Vodafone Ideas target of a threefold increase in cash EBITDA over three years as aggressive, as it assumes market share gains against Bharti Airtel and Reliance Jio, which the brokerage finds uncertain.

HAL Q3 Results: Revenue from operations in the December quarter increased 11% YoY to Rs 7,699 crore, compared with Rs 6,957 crore in the same quarter last year.

Japan's SoftBank Group said on Thursday it logged a net profit of 248.6 billion yen ($1.62 billion) in the October-December quarter, boosted by the rising valuation of its investment in OpenAI.

Hindustan Unilever Ltd (HUL) reported quarterly revenues largely in line with expectations, while its margins surprised investors by exceeding forecasts. This upside in profitability was attributed to improving trends in key segments and the gradual impact of GST rate cuts, offering some comfort amid a challenging consumption environment.

Moodys estimates that higher US H-1B visa fees could raise costs for Indian IT majors by $100 million to $250 million, or about 1% of revenues. While large firms can absorb the impact due to strong margins and cash reserves, smaller companies may face pressure amid rising AI investments.

Japanese government bonds rallied on Thursday, particularly, as investors reacted positively to Prime Minister Sanae Takaichi's pledge for esponsible stimulus following her electoral victory. This reassurance led to falling yields across various tenors, including the 40-year and 30-year JGBs, as the market digests her commitment to fiscal prudence.

Indian benchmark indices fell sharply as stronger U.S. jobs data dampened hopes of near-term Fed rate cuts, triggering a risk-off mood. The Nifty IT index plunged nearly 4%, wiping out Rs 1.3 lakh crore in market value after Anthropics new AI tool stoked fears of deeper disruption across Indias tech sector.

Indian IT stocks face pressure from global AI advancements and China's innovation, triggering sentiment-driven selling. While short-term pain is expected, experts believe the sector's long-term fundamentals remain strong due to its implementation and customization expertise in cloud and data services.

Tata Consultancy Services' stock has plunged, pushing its market value below Rs 10 lakh crore. Fears of artificial intelligence disrupting the IT sector are growing. Stronger-than-expected US jobs data also dampened investor sentiment. This has led to a broad sell-off in the Nifty IT index. Experts suggest the Indian IT sector will continue to face challenges.

Japan's Nikkei share average surpassed 58,000 for the first time. Government bonds and the yen also saw gains. This rally follows Prime Minister Sanae Takaichi's election victory. Markets are reacting to her fiscal policy commitments. Strong earnings and the LDP's win are boosting domestic shares. Investors are watching for potential overheating and profit-taking movements.

Foreign institutional investors are returning to India following the US-India trade agreement, but concerns over earnings growth persist. Artificial intelligence is emerging as a significant risk, impacting jobs and business models, particularly in white-collar industries and IT services, leading to potential consolidation and job reductions.

Bitcoin bounced back to $67,000 mark after dipping to $65,000 yesterday. Strong U.S. jobs data reduced expectations of an early interest rate cut. Major altcoins saw mixed movements. Bitcoin and Ethereum experienced slight declines. Institutional demand through ETFs continues to support prices. Investors are watching upcoming inflation data for further market direction.

Market expert Neeraj Dewan remains constructive on PSU banks, citing strong earnings and reasonable valuations, suggesting SBI is a buy-on-dips opportunity. He is optimistic about the commercial vehicle sector due to improving capex trends. However, Dewan advises caution on the IT sector due to volatility and potential structural impacts from AI.

Indian government bonds saw a slight dip early Thursday. This move followed a rise in U.S. Treasury yields. Investors are now keenly awaiting India's inflation data later today. The 10-year bond yield is expected to hover around 6.75% levels. This comes after stronger than expected U.S. jobs numbers. India's consumer inflation is projected to reach 2.4% in January.

Bill Ackmans Pershing Square has taken a major new position in Meta, investing $2 billion on the confidence that AI adoption will unlock long-term value. The hedge fund exited Hilton, arguing Meta remains undervalued despite recent volatility, and sees AI boosting recommendations, advertising efficiency and future engagement across Metas platforms.

HUL Q3 Results: The companys revenue from continuing operations stood at Rs 16,441 crore, up 5.6% YoY from Rs 15,556 crore in the corresponding quarter of the previous financial year, HUL said in a regulatory filing.