The Economic Times

U.S. stocks declined Wednesday, led by a drop in the Nasdaq and technology shares as investors sought defensive sectors. Bank stocks extended losses following mixed earnings and concerns over a proposed credit-card interest rate cap. The Russell 2000 and S&P 500 industrials, however, hit record highs.

NSE Holiday Today 2026: Both exchanges issued revised circulars confirming the trading holiday. The BSE clarified that equity derivatives contracts originally scheduled to expire on January 15, were revised to expire a day earlier, on January 14.

Trading on MCX will be limited to the evening session on Wednesday, January 15. This is due to Municipal Corporation elections in Maharashtra. The Indian stock market will also be closed on this day. Both BSE and NSE have confirmed the trading holiday. Equity derivatives contracts expiring on January 15 will now expire a day earlier.

Dixon Technologies' stock faces pressure from rising memory chip costs and upcoming regulatory changes. The company, a major Android handset maker, sees its stock decline. Analysts point to government approvals, memory price surges impacting demand, and the end of the PLI scheme as key concerns. Dixon is investing in component manufacturing and expanding capacity to navigate these challenges.

Indian metal producers are seeing record stock prices. Commodity prices are rising due to global uncertainty and industrial demand. Gold and silver have seen significant gains. Copper prices are also at record highs. Analysts have mixed views, with some advising caution on overbought stocks while others expect the rally to continue.

Elara Capital forecasts the Nifty index to reach 30,000 by March 2027. This projection suggests a potential 17% increase from current levels. The brokerage anticipates an earnings rebound will fuel this surge. Elara favors the consumption sector, particularly premiumization themes in discretionary spending, auto, jewelry, beauty, personal care, and hotels. NBFCs, private banks, and oil marketing companies are also preferred.

Housing finance companies face a challenging December quarter with slower growth and squeezed margins due to aggressive bank competition. While large firms grapple with lower rates, affordable housing lenders are expected to maintain profitability by keeping their lending rates steady. Analysts anticipate stable asset quality despite some localized stress.

Indian Overseas Bank and Punjab & Sind Bank are set to raise 4,000 crore and 3,000 crore respectively through qualified institutional placements this quarter. IOB has secured necessary approvals and is appointing merchant bankers, while Punjab & Sind Bank will hold an EGM on January 21 to consider its equity capital raise.

Coca-Cola is preparing to list its Indian bottling arm, Hindustan Coca-Cola Beverages (HCCB), through an IPO this summer to raise approximately $1 billion. The company is valued at nearly $10 billion, with investment bankers like Kotak, HDFC Group, and Citibank onboard. This move aligns with Coca-Cola's global strategy of focusing on brand building rather than direct ownership of capital-intensive operations.

Anand Rathi Share and Stock Brokers reported strong financial results for the December quarter. The company's net profit surged by 32.6% compared to the previous quarter and an impressive 71.8% year-on-year. Operating revenue also saw a healthy increase of 9.2% sequentially and 21.5% from the same period last year. These figures highlight robust growth for the brokerage firm.

The Reserve Bank of India has introduced new banking rules for calculating foreign exchange risk capital charges, aiming for international alignment. Banks will now compute these requirements continuously at consolidated and standalone levels, with changes effective April 1, 2027. The RBI also allows exclusion of specific 'structural' foreign exchange positions under strict conditions.

Infosys secured significant large deals in the December quarter, exceeding revenue expectations. A one-time impact from labor code changes affected profits. The company also increased its FY26 revenue growth forecast. This follows positive results from peers like TCS and HCL Tech. Clients are adopting new AI technology platforms. Infosys saw its headcount rise and attrition rates fall.

Overseas capital in Indian equities has shifted structurally, with US and European investors now dominating over traditional tax havens like Mauritius. Tighter tax norms and regulatory disclosures, including the principal purpose test and beneficial ownership rules, have reduced the appeal of Mauritius, leading to significant withdrawals from Indian equities in 2025.

International investors await a crucial Supreme Court verdict on Tiger Global's tax case. This ruling will significantly impact how foreign funds structure their investments in India. The decision could redefine tax implications for indirect transfers and the validity of tax residency certificates. Investors are closely watching for clarity on tax rules and their potential impact on future investment decisions.

The Reserve Bank of India has enhanced its review mechanism for customer complaints within regulated entities, mandating a senior-level review before rejection or partial resolution. This move aims to ensure speedy and meaningful grievance redressal, with internal ombudsmen playing a key role in oversight and reporting to the board's customer service committee.

US bank stocks fell as investors digested mixed earnings from major lenders and concerns over a proposed credit card interest cap, which could pressure profitability, despite strong loan growth and optimism about longer-term lending momentum.

Minneapolis Federal Reserve President Neel Kashkari did not want to cut interest rates last month and sees no need to cut them any time soon given labor market resilience and inflation above the Fed's target, the New York Times reported on Wednesday.

Infosys ADRs fell as December-quarter results showed modest profit decline and sharp margin pressure, offset by strong revenue growth and an upgraded FY26 guidance, reassuring investors despite cost headwinds, labour code impact and near-term seasonal softness in global IT markets.

Wall Street's main indexes fell at the open on Wednesday as investors digested earnings from Bank of America and Citigroup, while retail sales and producer price data did little to alter expectations for interest-rate cuts later this year.

Copper prices hit a record on Wednesday on persistent demand from speculative funds, but some investors were wary that the high prices would deter buying by industrial users.

Indian Overseas Bank posted a 56% year-on-year rise in Q3 profit driven by strong loan growth, higher net interest income and improved asset quality. Margins strengthened while the bank built a sizeable provision buffer ahead of upcoming credit loss norms.

Indian Overseas Bank and Punjab & Sind Bank plan to raise Rs 7,000 crore via qualified institutional placements to fund growth, meet Basel norms and reduce high government shareholding, even as IOB flags challenges in meeting minimum public shareholding norms by August.

ICICI Prudential AMC posted a robust December quarter with profit rising 45% year-on-year on operating leverage and fee growth. Strong inflows lifted assets under management, while the company announced a Rs 14.85 per share dividend for shareholders.

State-run Union Bank of India on Wednesday reported a 9.7 per cent increase in consolidated net profit for the December quarter at Rs 5,073 crore, helped by a sharp fall in provisions.

Indian government bonds slid on Wednesday, with the benchmark 10-year falling to the lowest in more than three weeks, on lingering disappointment over Indian debt not being added to Bloomberg's Global Aggregate Index.

SAMCO Securities forecasts silver prices could surge to Rs 3.94 lakh per kg after a 25% rise in 2026, citing technical breakouts, supportive inflation data, easing rate hopes and tight global supply amid a broader commodity supercycle momentum continues strong.

India's central bank has given Sumitomo Mitsui Banking Corp initial approval to establish a wholly-owned subsidiary. This move allows the Japanese bank greater operational freedom in India. Previously, Sumitomo Mitsui Banking Corp operated through a branch. The new subsidiary will be a separate legal entity, offering treatment similar to local banks.

HDB Financial Services reported 36% YoY growth in Q3 net profit to Rs 644 crore, supported by a 22% rise in net interest income to Rs 2,285 crore. Operating metrics improved, though asset quality softened with Stage 3 loans rising to 2.81% and provision coverage easing to 55.6%.

Indias GDP growth may look strong, but earnings and valuations will drive the markets going ahead. GV Giri, President and Head of Research of IIFL Capital says FY27 could see 1617% Nifty earnings growth, led by banks, NBFCs and select sectors, even as India remains relatively expensive compared with global peers.

UBS cut EBITDA estimates for Zomato-owner Eternal and Swiggy as quick commerce competition intensifies, widening discounts and delaying margin recovery. Aggressive pricing by Amazon and Zepto pushes Blinkit breakeven to FY27 and weakens Instamart margins, despite long-term growth prospects ahead.

Infosys Q3 Results: India's second largest IT services company on Wednesday reported a 2% year-on-year (YoY) decline in its consolidated net profit at Rs 6,654 crore in the third quarter, compared with Rs 6,806 crore in the last year quarter.

The benchmark BSE Sensex slipped 245 points, or 0.29%, to end at 83,382.71, while the NSE Nifty 50 fell 66.7 points, or 0.26%, to 25,665.60. The decline marked the seventh loss in eight sessions for both indexes, reflecting fragile investor sentiment despite pockets of sectoral strength.

Nifty shows early signs of bottoming near 25,500 as buying emerges at lower levels, says Nagaraj Shetti, Technical & Derivative Analyst , HDFC Securities. While volatility persists, technical charts point to a possible rebound towards 26,20026,300. Metals and oil refinery stocks show strength, with MRPL, SAIL and Tata Steel leading sectoral momentum.

European stocks recovered their poise on Wednesday after a modest dip a day earlier, as a surge in shares of energy firms RWE and SSE drove the utility index higher.

Bharat Coking Coal's IPO listing has been postponed to January 19 due to BMC elections, with the Indian stock market also closed on January 15 for municipal polls. The Rs 1,071 crore IPO saw an overwhelming subscription response, attracting bids worth over Rs 1.1 lakh crore and setting a record with 90.31 lakh applications.

Groww has partnered with US-based State Street Global Advisors, which will invest up to Rs 580 crore in Groww AMC through primary and secondary shares. The deal, involving up to 23% stake dilution, strengthens Growws mutual fund business, supporting expansion, global collaboration, and enhanced product offerings for Indian investors.

HDFC AMC Q3 Results: Revenue from operations during the same period grew 15% YoY to Rs 1,074 crore.

Union Bank of India shares jumped more than 8% after the state-owned lender reported a stronger December-quarter performance, marked by easing slippages, lower bad loans and a 9% rise in net profit. The results reassured investors on asset quality and capital strength, triggering a sharp rally in the stock.

Flipkart is set to more than double its investment in Shadowfax as the logistics firm prepares for its IPO next week. With a 14.8% stake, Flipkarts holding could fetch Rs 929 crore at the top price band, generating a pre-exit gain of over Rs 600 crore while retaining future upside.

Finance author Robert Kiyosaki cheered silver prices surpassing $90 per ounce. He noted US Silver Eagle coins are selling for $104. Silver futures on MCX reached an all-time high of Rs 2,87,990 per kilogram. Geopolitical tensions are supporting precious metals. Kiyosaki previously warned of a potential pullback but continues to buy silver.

Shadowfax Technologies' upcoming IPO is generating positive buzz, with grey market premiums indicating a strong listing. The logistics provider, which recently turned profitable, aims to raise Rs 1,907 crore. Investors are watching valuation and execution in a competitive sector, but robust revenue growth and a wide client base offer optimism.

Strong mutual fund participation continues to signal institutional conviction, with 254 stocks held by over 100 schemes as of December 2025. Many of these stocks have delivered strong FY26 returns, including several multibaggers, highlighting the resilience and momentum often associated with broad-based mutual fund ownership.

Indian stock markets are experiencing a subdued start to 2026. Investors are awaiting clearer signals on company earnings and trade negotiations. While GDP growth remains supportive, a strong earnings rebound is not yet visible. Financials are seen as a bright spot.

As real estate leaders outline expectations from the Union Budget 2026, key priorities include demand revival, infrastructure-led growth, and greater institutional capital. Stakeholders seek tax incentives for homebuyers, easier financing for developers, SEZ reforms, and measures to boost affordability and sustainable construction, aiming to support balanced and long-term sector growth.

Ace investor Vijay Kedia acquired a 1.01% stake in Patel Engineering after the smallcap stock fell over 40% in a year. The infrastructure firm recently secured hydropower and coal mining contracts worth over Rs 2,400 crore.