The Economic Times News

The Sensex fell 116 points, or 0.14%, to end at 85,408.70, while the Nifty 50 slipped 35 points, or 0.13%, to close at 26,142.10.

Nuvama Institutional Equities has initiated coverage on Knowledge Marine & Engineering Works with a Buy rating and a target price of Rs 2,500, citing strong maritime sector tailwinds, a robust order book, superior margins, and execution strength across geographies. The brokerage expects sharp growth in revenue and profitability through FY28, supported by government-led infrastructure spending and green tug opportunities.

Indias equity outlook for 2026 looks brighter as valuations ease, domestic growth stays resilient and global investors reassess the crowded AI trade. Punita Kumar Sinha, Founding Partner of Pacific Paradigm Advisors explains why financials, selective IT, real estate and capex-led themes could drive returns, while stock selection and diversification remain crucial.

Shares of Manappuram Finance and Muthoot Finance hit record highs on the BSE as domestic and global gold prices touched fresh peaks. Rising bullion prices, strong gold loan demand, and favourable brokerage outlooks have driven sharp gains in gold-backed lenders, significantly outperforming the broader market in 2025.

NSE Holidays 2025: Leading exchanges NSE and BSE will remain closed for trading on Thursday, December 25, due to the Christmas holiday. The commodity exchanges MCX and NCDEX will also take a days break and resume trading on Friday.

Silver has surged past $72 an ounce, delivering nearly 140% gains this year and drawing fresh investor interest. Against this backdrop, Rich Dad Poor Dad author Robert Kiyosaki has predicted silver could hit $200 by 2026, citing hyperinflation risks, rising industrial demand and weakening fiat currencies as key drivers.

The market script took an unexpected twist in CY25. While the Sensex marched ahead confidently, gaining 9.5%, the BSE Smallcap Index stumbled, slipping 6.5% over the same period. For smallcap investors, it felt like the music had suddenly stopped. But this short-term pain hides a much bigger story.

Castrol India share price surged 9% after BP announced the sale of a 65% stake in Castrol Limited to Stonepeak at an enterprise value of $10.1 billion. The transaction, expected to close by end-2026, is part of bps strategic divestment programme aimed at strengthening its balance sheet while retaining exposure to Castrols growth through a 35% stake.

After golds surprise rally in 2025, equities could regain leadership in 2026, says Dipan Mehta, Director at Elixir Equities. Small- and mid-cap stocks look better placed as earnings catch up and valuations normalise. Metals, autos, ports and select NBFCs remain key themes, while asset-class leadership may rotate again next year.

Cholamandalam Investment and Finance Company (Chola) has refuted allegations of financial impropriety, asserting that all past transactions adhered to prevailing laws and regulatory frameworks. Management clarified that disclosures and fund diversions, including insurance transactions and payments to family members, were conducted with business rationale and proper approvals, emphasizing that current norms should not be retroactively applied.

Bitcoin slipped below $88,000 amid thin holiday trading, with low liquidity amplifying modest sentiment shifts and increasing volatility risks. Profit booking and easing derivatives positions have kept prices range-bound, reflecting cautious market conviction rather than a strong bearish trend.

Platinum has emerged as the standout precious metal of 2025, sharply outperforming gold and silver amid supply deficits, rising investment flows and strong industrial demand. Persistent production challenges, expanding Chinese participation and macro tailwinds have propelled prices to record highs, reshaping investor perceptions and reviving interest in platinums role within diversified portfolios.

Groww shares jump 9.5% as investors cheer the stocks upcoming BSE Large Cap index inclusion and the launch of its emergency trading platform, Groww Lite. The stock has surged 75.6% since its Rs 100 IPO.

Coal India is set to unlock significant shareholder value with the upcoming listings of its major subsidiaries, BCCL, SECL, and MCL. Industry experts view this as a positive move, with MCL particularly noted for its operational efficiency. While holding company discounts are anticipated, the extent will depend on dilution levels and remaining subsidiaries.

Jupiter Wagons shares surged over 35% in four days after promoter Tatravagonka A.S. increased its stake to 19.24% through convertible warrant conversion. The acquisition was completed on December 19 and disclosed the same day in compliance with SEBIs insider trading regulations. The move boosted investor confidence, reflecting promoter faith in long-term growth.

India Inc has recorded its first aggregate earnings upgrade in five quarters, driven by mid- and large-cap firms, signaling a turnaround in the corporate profit cycle. Motilal Oswal raised FY26 PAT estimates by 2% after a series of cuts over the previous four quarters, marking a clear inflection in earnings revisions.

Indias REIT market has surged to a Rs 2.3 lakh crore scale, surpassing Hong Kong and emerging as a global powerhouse, ANAROCK Capital said. With five listed REITs, strong occupancies, robust yields, rising distributions and SEBIs new equity reclassification, the sector is poised for accelerated growth and broader investor participation.

Jefferies has initiated coverage on Pine Labs with a Buy rating, citing an earnings inflection point, strong revenue growth prospects, and improving profitability. Expansion across digital payments and operating leverage could drive a potential valuation re-rating.

Anchor lock-ins for GK Energy and Saatvik Green Energy end today, releasing over 8 million shares into the market. Both stocks have fallen below their IPO prices despite strong listings and high subscription levels. GK Energys IPO was subscribed 93.6 times, while Saatvik Green drew nearly 7 times the overall demand.

Railway stocks are back in focus as RVNL, IRCTC, Jupiter Wagons and other rail-linked names rally ahead of the Union Budget 2026. Investors are eyeing potential increases in railway allocations, but analysts caution that pre-Budget spikes may be short-lived without sustained fundamentals.

Global investors are increasingly shifting capital to Chinese AI stocks as stretched U.S. tech valuations raise bubble concerns. Strong policy support, blockbuster chipmaker listings and Chinas push for technological self-reliance are boosting interest, with firms like Alibaba, Baidu and Tencent emerging as key beneficiaries of the growing AI investment pivot.

Varun Saboo of Anand Rathi Shares & Stock Brokers is optimistic about Indian markets for 2026, favoring BFSI and consumer sectors. He sees strong potential in nascent categories within FMCG and believes white goods offer long-term accumulation opportunities despite near-term weather impacts. Real estate also remains attractive due to robust demand and a continuing upcycle.

For HNIs, investing is increasingly focused on capital protection, risk management and long-term sustainability, not just returns. ESG investing has become a key framework globally, shaping how investors assess business quality and influencing capital allocation decisions among U.S. investors, Indian HNIs and family offices.

Hindustan Copper shares hit a fresh all-time high as copper prices surged globally and domestically, driven by tightening supply, green energy demand and improving industrial outlook. Strong price momentum and operational leverage have kept the stock firmly in investor focus.

Housing affordability improved across major Indian cities in 2025, led by Ahmedabad, Pune and Kolkata, thanks to lower home loan rates, Knight Frank said. Mumbai saw affordability fall below the crucial 50% EMI-to-income mark for the first time, signalling a more sustainable environment for homebuyers amid strong demand.

Websol Energy System shares jumped as much as 14% after the company won a key tax appeal, with authorities setting aside a Rs 73.04 crore demand for FY18. The ruling removes a major contingent liability from the solar firms books, triggering a sharp relief rally despite the stock being down 46% so far in 2025.

Indian government bonds surged Wednesday following the Reserve Bank of India's announcement of a substantial liquidity injection. The central bank plans to inject approximately 2.90 trillion rupees through bond purchases and a dollar-rupee swap, aiming to ease concerns over upcoming debt supply and improve auction demand. This move provided much-needed clarity for the market.

The media sector is ending 2025 as a poor performer, with most Nifty Media index stocks experiencing double-digit declines. Prime Focus, however, stands out with significant gains. Analysts attribute the sector's struggles to a shift in consumer habits towards digital platforms and a lack of innovation in traditional media.

Indian equity markets may be entering a constructive phase as earnings upgrades, supportive macro conditions and attractive valuations align. Siddharth Vora of PL Asset Management says domestic liquidity remains strong, risks are manageable and largecaps and midcaps offer better value than smallcaps, with cyclicals and financials emerging as key portfolio themes for the period ahead.

Retail investors are playing an increasingly influential role in US equity markets, with record inflows projected for 2025. Driven by easier market access, thematic investing trends and expectations of interest rate cuts, individual participation has become a structural force reshaping traditional market dynamics.

Vikran Engineering shares rose sharply on Wednesday after the company secured a Rs 2,035 crore EPC order from Onix Renewables for developing 600 MW AC solar projects in Maharashtra. The turnkey project, to be completed in 12 months, strengthens Vikrans renewable energy portfolio and boosts its order book.

Japan is set to unveil a record 122.3 trillion yen budget for the next fiscal year, funded by a substantial $189 billion in new government bonds. Prime Minister Takaichi's administration is prioritizing proactive spending to revitalize the economy, despite concerns over rising bond yields and Japan's high debt-to-GDP ratio.

Several major Indian companies, including MUDRA, Indian Bank, and ONGC Petroadditions, have postponed significant fundraising plans worth 150 billion to the next quarter. This decision stems from rising corporate bond yields, driven by tight liquidity and investor caution. Four planned bond issuances totaling 225 billion were also scrapped recently as issuers and investors failed to agree on yield demands.

Indian rupee forward premiums retreated from multi-year highs on Wednesday following the Reserve Bank of India's announcement of a $10 billion USD/INR buy-sell swap. This intervention is expected to absorb excess dollar liquidity, easing the recent surge in premiums driven by dollar glut and year-end pressures.

The BSE Sensex has achieved remarkable wealth creation over four decades. It has grown from a modest start to a lifetime high, transforming into a democratized wealth engine for millions. This journey reflects India's economic transformation and its rise as a global powerhouse. The Sensex has become a true barometer of the Indian economy.

Indian stocks edged higher on Wednesday, with the Sensex and Nifty steadying after a flat close. Stronger U.S. economic growth data boosted risk appetite, though foreign fund outflows and thin year-end trading volumes tempered the optimism.

Gold and silver extended their record rally on Wednesday, with MCX silver hitting a fresh peak of 2,23,359/kg and gold opening higher at 1,38,247 per 10 grams. Prices remain supported by expectations of US rate cuts, geopolitical risks, and strong safe-haven demand, following gains in global and domestic markets.

Indian states are set to borrow a record amount. This surge in borrowing will impact bond markets. Interest rates are expected to remain high. Investors are cautious about committing funds. This situation could affect private borrowers and companies. The Reserve Bank of India's rate cuts may not fully transmit to the economy due to this supply glut.

Despite a challenging market in 2025 that saw many portfolios decline, investor Mukul Agrawal's equity holdings featured five multibagger stocks. While his overall portfolio saw a slight dip, these select companies delivered significant returns, outperforming the broader market slump in small-cap stocks.

Japan's long-term bond yields hit record highs as investors worry about government stimulus funded by new debt. The 30-year JGB yield climbed to 3.45%, while the 40-year yield reached 3.715%. This surge follows speculation about Prime Minister Takaichi's fiscal plans and the Bank of Japan's potential rate hikes. The benchmark 10-year yield, however, saw a slight dip.

Vietnam's stock market hit a record high, extending its weekly rally as investors reacted positively to signs of political stability. A senior Communist Party meeting agreed on candidates for the next leadership, with party chief To Lam widely expected to retain his powerful post.

Cholamandalam Investment and Finance Company shares are set to be in focus after the company rejected allegations of governance lapses, reaffirmed its guidance and highlighted strong liquidity and capital buffers. Brokerages including Motilal Oswal, Morgan Stanley and Jefferies reiterated their positive stance, citing improving disbursements and resilient fundamentals.

Indian investors are increasingly seeking global diversification despite regulatory hurdles like LRS limits and higher TCS. While interest in AI, tech, and defense themes grows, domestic fund capacity caps and a weakening rupee are shaping overseas investment strategies for 2026.

Indian equities enter 2026 with improved valuations and stronger fundamentals after a volatile period. Experts anticipate sustained economic momentum driven by fiscal and monetary policies, with manufacturing and digitization poised for leadership. Investors are advised to diversify across market caps for long-term wealth creation.

Goldman Sachs has initiated coverage on PhysicsWallah with a Neutral rating and a 135 target price, citing strong execution and a large market opportunity. It expects 24% revenue CAGR and over 80% EBITDA CAGR during FY2530, driven by organic traffic, a stable competitive landscape, and a scalable pricing model.

Hindustan Zinc shares: Silver prices hit record highs above $72/oz, up over 140% in 2025. The surge is driven by strong industrial demand, supply constraints, safe-haven buying, and expectations of looser US monetary policy, with MCX silver also touching fresh all-time highs in India.

The Gujarat Kidney and Super Specialty IPO enters its final bidding day amid modest grey market sentiment and strong retail demand. While subscription momentum remains healthy, valuation appears stretched compared with listed peers. Analysts advise caution, highlighting execution risks, sustainability of margins and limited near-term upside despite favourable healthcare sector prospects.

Seven NSE-listed stocks with market capitalisation above Rs 1,000 crore signalled bullish momentum on 23 December after forming White Marubozu patterns. This candlestick formation reflects strong buying interest throughout the session, suggesting buyers remained in control from open to close and indicating potential continuation of the prevailing uptrend.

As of December 23, five stocks in the NSE F&O segment recorded a sharp rise in futures open interest, signalling fresh derivatives activity. A rise in open interest reflects increasing participation, with traders either initiating new positions or expanding existing exposure, pointing to stronger conviction on near-term price direction.

In a significant boost for investors, Coal India has seen its shares gain traction after the announcement of plans to list its subsidiaries, Mahanadi Coalfields Limited and South Eastern Coalfields Limited. This strategic initiative aligns with directives from the Ministry of Coal, paving the way for further communications with the Ministry regarding submissions to DIPAM.