The Economic Times News

U.S. financial markets will close early on Christmas Eve and remain shut for Christmas Day, returning to a normal schedule Friday. Stocks traded sideways Wednesday following a record session, with investors anticipating a Santa Claus rally. This year-end period typically sees markets drift higher due to limited economic news.

Market experts on Wednesday advised investors to focus on global diversification alongside India's strengthening domestic fundamentals while planning their portfolios for 2026, citing currency depreciation risks and a structurally improving Indian economy.

Shares of Agios Pharmaceuticals jumped nearly 16% on Wednesday after the U.S. Food and Drug Administration approved the expanded use of its drug for the treatment of a type of blood disorder.

SFIO has initiated an investigation into IndusInd Bank over discrepancies in its derivatives trades and certain balance sheet accounts. The bank informed exchanges about receiving a formal notice and said it is cooperating fully with the probe under the Companies Act.

Nike shares rose nearly 4% in early trading on Wednesday after Apple CEO Tim Cook doubled his personal stake in the sportswear maker, raising his bets on the margin-pinching turnaround efforts led by CEO Elliott Hill.

Gold surged to a fresh lifetime high above $4,500 an ounce on safe-haven demand, central bank buying and rate-cut hopes. Domestic prices also hit records, aided by a weaker rupee, with analysts predicting a move toward $5,000 amid global uncertainty.

Wall Street indexes opened nearly flat in shortened Christmas Eve trading on Wednesday, as traders wait to see whether stocks can extend record gains in a seasonally strong stretch for markets.

The number of Americans applying for unemployment benefits fell last week and remain at historically healthy levels despite some signs that the labor market is weakening.

State-owned NHAI-sponsored Raajmarg Infra Investment Trust (RIIT) has received approval from the Securities and Exchange Board of India (SEBI) as an Infrastructure Investment Trust (InvIT), an official statement said on Wednesday.

Copper advanced for a sixth straight session to an all-time high close of $12,300 on Wednesday as robust U.S. economic growth boosted demand prospects and a weaker dollar supported prices.

U.S. investors may soon have access to a greater array of products tied to asset classes like private credit and crypto as the Trump administration and SEC push to open markets, a change that some investment advisors say puts too much onus on individuals to protect themselves.

Largecap stocks staged a strong comeback in 2025 after two years of lagging midcaps and smallcaps. One-third of largecaps gained over 20%, with six soaring more than 50%. Technical indicators signal institutional buying and sustained momentum, suggesting largecaps may continue to lead heading into 2026.

Seven large-cap stocks, including Vedanta, Shriram Finance, Hindustan Zinc and Hindalco, hit fresh 52-week highs on Wednesday despite a weak broader market.

Realty firm J Estates has bought three land parcels in Gurugram to develop more than 450 homes for the elderly and is expecting a total revenue of around Rs 2,100 crore from these three upcoming projects.

The latest intervention from the central bank through liquidity injection will ensure a sustained rise in government bond prices, as well as ensure banking system liquidity stays at an optimal level till the end of this financial year, traders said.

Indian government bonds jumped on Wednesday, with the benchmark bond yield marking its biggest single session plunge in seven months after the central bank eased supply concerns by announcing a hefty liquidity injection for the coming month.

The U.S. stock market is closing the books on a third straight year of double-digit percentage gains. A fourth stellar year in 2026 may be a tall order, requiring strong earnings, a dovish Federal Reserve and strong artificial intelligence spending.

Market expert Gurmeet Chadha says his journey to financial independence was shaped not by skill or qualifications but by the ability to endure stock market volatility. Emphasising long-term investing and patience, he believes surviving market cycles and trusting Indias growth story are key to building wealth.

Nifty may stay range-bound near 26,100 before attempting a breakout towards 26,500, says Rohit Srivastava, Founder of Strike Money Analytics and Indiacharts. While IT stocks offer short-term trading opportunities despite policy jitters, metals could outperform amid a weakening dollar. Key technical levels, sector calls and Santa rally cues explained for investors.

Key stocks in focus on Wednesday included Manappuram, Hindustan Copper, Groww, Websol Energy, IndiGo and Kajaria Ceramics as markets paused their recent winning streak.

The Indian rupee closed modestly weaker on Wednesday as dollar demand from local corporates and on account of maturing positions in the non-deliverable forward (NDF) market blunted positive cues from gains in most regional peers.

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.