The Economic Times

Gold prices have reached a record high of over $5,000 per ounce. This surge is driven by global uncertainty and policies from US President Donald Trump. Recent events, including trade war fears and pressure on the Federal Reserve, have boosted gold's appeal. Investors are seeking safe havens as confidence in the dollar and bonds wavers.

The iSIF Hybrid LongShort Fund blends equity and debt with limited short exposure using derivatives and special situations. It aims for smoother, risk-adjusted returns across cycles by adjusting net exposure based on valuations and market conditions. Derivatives are used for both hedging and income generation, while limited liquidity makes it suitable for investors seeking lower volatility and longer horizons.

Retail investors have stayed committed to Indian markets through multiple crises, but their confidence must be continually reinforced as savings grow. Taxation, especially STT, CTT, and capital gains, adds friction and makes India less competitive globally. Predictable, rational tax policy and long-term support for mutual funds are crucial to sustain domestic capital formation. Higher capex, especially in defence and infrastructure, is essential for long-term growth.

As the Nifty slips below its 200-day moving average amid sustained FII outflows and a weakening rupee, market sentiment has turned sharply cautious ahead of the Budget. Rupak De, Senior Technical Analyst at LKP Securities, shares his January expiry strategy, key levels to track, and stock ideas in a volatile pre-Budget environment.

Indian stock markets will be closed on Monday, January 26, for Republic Day, affecting trading across NSE, BSE and MCX. The closure marks the second market holiday of 2026. Trading will resume on Tuesday, January 27. For the rest of the year, exchanges will remain shut for 14 sessions, including Holi, Ram Navami, Diwali, Christmas and other national and regional observances.

As Budget 2026 approaches, WhiteOak CEO Aashish Somaiyaa says the focus should shift from headline reforms to fixing structural market frictions. He argues that the current securities transaction tax and dividend taxation framework amounts to double taxation and needs review. Somaiyaa also highlights Atmanirbhar Bharat as a continuity-led strategy, explains the cyclical nature of FII flows, and stresses that macro stability will drive foreign investor confidence.

The combined market valuation of nine of the top-10 most valued firms slumped by Rs 2.51 lakh crore last week, with Reliance Industries taking the biggest hit, in line with a weak trend in equities.

Stock market is gearing up for an eventful week ahead where key triggers such as quarterly earnings from corporates, the US Fed interest rate decision and the upcoming Union Budget for 2026-27 would grab the limelight, analysts said.

Ace investor Mukul Mahavir Agrawal reshuffled his Rs 6,500-crore equity portfolio in Q3, adding new names and adjusting stakes across several holdings. He entered stocks such as Hindustan Construction and Alcargo Logistics, increased exposure in Vasa Denticity and Vikran Engineering, and trimmed or exited positions in firms like Monolithisch, Pearl Global and Stanley Lifestyles. The moves reflect tactical repositioning after 2025s sharp smallcap selloff.

Axis Bank is expected to post a mixed Q3 performance, with healthy loan and deposit growth supporting balance sheet expansion, but pressure on margins weighing on profitability. Brokerages see NII rising about 4% year-on-year, while PAT is likely to decline around 8%. Loan growth is seen rebounding to about 14% YoY, with deposits growing faster than the industry.

Low liquidity, high volatility and limited transparency make them vulnerable to manipulation and sudden price swings.

Based on consensus estimates, Trendlyne data shows that a number of midcap stocks are poised to deliver strong returns over the next 12 months.

Mala Gaonkar's SurgoCap Partners experienced a rapid ascent, tripling its assets to $6 billion within three years of its 2023 launch. This marked one of the fastest-growing debuts in hedge fund history, with Gaonkar leveraging data science to invest across various sectors. She emphasizes a small, collaborative team size for idea generation, drawing parallels to Jeff Bezos's wo-pizza-box team concept.

According to VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, FPIs not only continued their selling spree in the week ended January 23 but also intensified it. The sustained outflows have wiped off Rs 16 trillion in market capitalisation for the week alone, contributing to a 2.5% decline in the Nifty index.

Markets experienced a sharp corrective move, with Nifty ending lower after a volatile week and breaking below key technical levels. India VIX surged, signaling increased risk perception. Despite a potential technical rebound due to oversold conditions, volatility is expected to remain elevated, especially with F&O expiry.

Adani Group companies clarified via stock exchange filings that they are not parties to any US SEC legal proceedings. Reports indicated the SEC sought court approval to serve summons to Gautam Adani and Sagar Adani via email after Indian authorities denied previous requests. The group reiterated no allegations are against the company.

Despite the decline in overall portfolio value during FY26, stock-level performance remains encouraging. More than half of the holdings delivered positive returns, with 11 stocks surging between 25% and 90% within a span of less than 10 months in FY26.

Indian equity markets closed the week on a subdued note, impacted by profit-booking and foreign investor outflows. Global trade concerns and domestic earnings disappointments weighed on sentiment. Analysts suggest caution ahead of the Budget, with Nifty facing resistance and broader markets showing weakness. PSU banks are outperforming private peers.

Kotak Mahindra Bank has announced a solid financial performance for the third quarter of fiscal year 2026. The private lender saw its standalone net profit climb 4% year-on-year to Rs 3,446 crore. This growth was supported by a 5% rise in net interest income, reaching Rs 7,565 crore, indicating a healthy expansion in its core lending operations.

Ultratech Cement has announced strong financial results for the third quarter of FY26. The company's profit after tax saw a significant 32% year-on-year increase, reaching Rs 1,792 crore. Net sales also climbed by 22.5% year-on-year to Rs 21,506 crore. These figures exclude the impact of the New Labour Code.

Silver has surged past $100 per ounce for the first time, driven by a confluence of factors including a weakening dollar, robust industrial demand for green technologies, and supply constraints. Analysts highlight its evolving role from a safe haven to a critical mineral, with expectations of continued strength amid global economic shifts and geopolitical uncertainties.

In the upcoming week, a host of companies have announced such actions, ranging from high-percentage interim dividends to rights issues at discounted prices. The following slides provide a detailed, day-wise summary based on StockEdge data.

The primary market anticipates a quiet week with no mainboard public offerings. Investor focus will shift to SME platforms, featuring five IPOs. Shadowfax Technologies is set for its mainboard listing. SME IPOs from Accretion Nutraveda, Msafe Equipments, Kanishk Aluminium India, and CKK Retail Mart will open. Listing performance is expected to vary.

Bitcoin hovers around $90,000 as investors await the Federal Reserve meeting for a potential market catalyst. Both Bitcoin and Ethereum saw slight dips in the last 24 hours, with major altcoins experiencing more significant declines. The global crypto market capitalization also edged down, reflecting broader macroeconomic influences on digital asset sentiment.

PPFAS Mutual Fund introduces the Parag Parikh Large Cap Fund. This new offering blends active and passive investing for exposure to India's top 100 companies. It aims for cost efficiency similar to passive funds while employing smart execution strategies. The fund benchmarks against the Nifty 100 TRI. Existing flexicap investors can consider this for broad large-cap exposure.

India's defence sector is transforming. A record budget and focus on domestic production are boosting capabilities. Exports are growing, reaching over 100 countries. New technologies and private sector involvement are key. This presents a multi-decade opportunity for investors. The upcoming budget is expected to further enhance capital expenditure and promote exports.

Indian REITs delivered strong returns in 2025. Investors and developers anticipate the Union Budget 2026 for policy and tax reforms. These measures aim to enhance market depth and liquidity. The goal is to attract more investment into India's real estate sector. This will support sustainable growth and investor confidence.

India's real estate sector needs support in Budget 2026. Leaders want incentives for affordable housing and faster infrastructure projects. Reforms can boost demand and rental housing. Land reforms are also key. Action is needed to prevent a widening housing gap and ensure balanced urban development for all.

India's auto sector saw a strong Q3 recovery driven by GST cuts, festive demand, and lean inventories. Broad-based growth in two-wheelers, passenger, and commercial vehicles continued post-festive season. TVS Motor and Maruti Suzuki are highlighted for market share gains and strong growth prospects.

Emerging-market assets and precious metals are experiencing a strong start to 2026, driven by US-Europe tensions that are weakening the dollar and encouraging global diversification. Investors are pouring record cash into emerging-market funds, with Asian technology and Latin American equities leading the rally, as a rotation out of US holdings gains momentum.

Here is a closer look at the additions, stake increases, trims and exits made during the third quarter.

India's economic outlook remains strong despite global uncertainty. Navneet Munot of HDFC AMC highlights policy continuity and sustained reforms. The upcoming Budget is expected to boost domestic investment and earnings. Opportunities exist across sectors, particularly in manufacturing and new-age technologies like AI. The government is urged to incentivize investment in capital markets and R&D.

Markets brace for a volatile week with the Fed's first meeting, U.S.-Europe relations, and major tech earnings from Apple, Microsoft, Meta, and Tesla. Investors will also monitor Japan's economic jitters and a wave of emerging market interest rate decisions, seeking clarity amidst ongoing geopolitical and economic uncertainties.

The Japanese Yen saw significant volatility on Friday. Two sharp upward movements sparked speculation that authorities might have conducted a rate check. This action often signals potential intervention to curb the Yen's decline. Traders remain watchful for further moves by Tokyo to stabilize the currency. Global markets also reacted to geopolitical tensions affecting the US Dollar.

Investors pulled billions from U.S. equity funds amid tariff threats, though President Trump later eased these concerns. While large-cap and small-cap funds saw outflows, sector funds like financials and healthcare attracted new money. Bond fund investments dipped, but investment-grade funds saw increased demand. Money market funds experienced further withdrawals.

Investors are shifting focus to AI profit potential and interest rate paths amid a packed earnings week featuring tech giants like Apple and Microsoft. The Federal Reserve's upcoming meeting will also be closely watched for rate decisions and discussions on its independence. Geopolitical tensions, though easing, remain a wildcard.

Silver prices have surged past one hundred dollars an ounce. This surge is fueled by retail investor and momentum-driven buying. Physical markets for the metal are experiencing tightness. Analysts warn of a potential major correction. Gold has also hit a record high. Industrial demand is under pressure. This situation presents a dynamic market for investors.

U.S. stocks experienced a mixed close on Friday, with the Dow Jones Industrial Average falling due to Intel's sharp decline on a weak outlook. Despite geopolitical concerns and a volatile week, investors remain confident in the robust American economy. The upcoming show-me season for tech earnings, particularly from the Magnificent Seven, will be crucial for justifying current stock valuations.

IndiGo's shares fell on Friday following a significant drop in quarterly profit. Brokerages offered mixed views, citing short-term challenges like rising costs and currency issues. However, many remain positive about the airline's long-term growth potential. Analysts project potential upside for the stock in the coming year, despite some caution regarding immediate future earnings.

India's securities regulator has accused current and former executives from PwC, EY, Carlyle, and Advent. They allegedly breached insider trading rules concerning a 2022 Yes Bank share sale. The regulator claims unpublished price-sensitive information was shared, leading to unlawful gains. The notice follows an investigation into Yes Bank's share movements before a significant offering.

Securities and Exchange Board of India has given the green light to thirteen companies for their Initial Public Offerings. Firms like Sify Infinit Spaces and Commtel Networks are among those that received Sebi's final observations. This clearance allows these companies to move forward with their plans to raise capital through the stock market.

Adani Group stocks saw a sharp decline on Friday. This followed news that the US SEC is seeking court permission to email summons to founder Gautam Adani and nephew Sagar Adani. Allegations involve fraud and a bribery plot. The group's market value dropped by over $9 billion. Investors are advised to wait for clarity.

The Reserve Bank of India has announced three liquidity-boosting measures, including open market operations and a dollar-rupee swap, totaling approximately 1.92 lakh crore. These actions aim to enhance system liquidity and support the transmission of previous rate cuts. Experts anticipate further liquidity injections in the coming months.

IndusInd Bank's net profit plummeted 91% to 128 crore in the third quarter due to deteriorating asset quality and increased provisions. Despite this sharp decline, the bank returned to profitability after a significant loss in the previous quarter, which was impacted by microloan provisions and derivative misreporting issues.

The Indian rupee hit a record low of 91.97 against the dollar on Friday, driven by equity selling and importer demand. Reports of potential US regulatory summons to billionaire Gautam Adani in connection with alleged bribery and fraud significantly impacted the currency's retreat. Foreign investors have divested over $3 billion from Indian markets this month.

Indian stock markets ended a difficult week with a significant drop on Friday. The rupee hit new record lows, and global tensions fueled investor caution. Shares of Adani Group companies saw a sharp decline. Broader markets also experienced substantial losses. Investors are concerned about global uncertainty and potential conflicts.

Videotelephony firm Zoom, telecom giant T-Mobile and low-cost airline Southwest Airlines are among the latest global companies considering the establishment of global capability centres (GCCs) in India, said people aware of the matter, adding that they are in talks with several states toward this end.