Nifty faces a range-bound week after failing to breach 26,000. Analysts anticipate cautious trading with support seen at 25,300 and resistance at 25,700-26,000. Traders are advised a wait-and-watch approach. Key stock picks include Bajaj Finance, Torrent Pharma, Tata Motors Passenger Vehicles, Dr. Reddys Laboratories, L&T, and Pricol, offering potential trading opportunities.
Chinese stocks face a gloomy outlook as corporate earnings show a significant downturn. Investors are concerned that upcoming holiday spending will not be enough to boost the market. Economic indicators point to weak consumer demand. This situation is fueling worries that the Lunar New Year will not bring its usual economic uplift.
Debt investors are increasingly concerned about major tech companies taking on significant debt for AI development, leading to a surge in credit derivative trading. This market activity, particularly for single-company contracts on issuers like Meta and Alphabet, reflects a growing demand for protection against potential defaults as AI investments escalate.
Overseas fund managers have reduced bearish derivative bets on India, moving from near-lifetime lows as market pessimism eases. However, they remain cautious, retaining significant short positions due to ongoing AI trade uncertainties on Wall Street. This cautious approach is reflected in the fluctuating Long-Short Ratio of FPIs' Nifty futures.
Non-banking finance companies (NBFC) can now factor in DLGs when setting aside buffers for potential loan losses, provided the guarantee forms an integral part of the loan arrangement, the RBI said last week.
The Reserve Bank of India is seeking input from banks to streamline overseas investment rules. This move aims to simplify procedures and ease compliance hurdles for Indian companies. Discussions are underway to address practical challenges and ambiguities in the current framework. The central bank is looking to clarify regulations and facilitate smoother outbound investments for businesses and individuals.
At least 250 union members from United Steelworkers Local 7-1, of which BP is a part, and other union members and supporters gathered at Amoco Park on 129th Street and, signs in hand, marched to the corner in front of the refinerys so-called Glass Houses and lined up along Indianapolis Boulevard in a river of black, blue and gold. BP workers on duty laid on their horns in solidarity as they drove by in company trucks; a few even held up signs behind the gates.
