BNP Paribas expects the Nifty 50 to reach 29,500 by end-2026 and has identified 17 top stock picks across autos, banks, IT, telecom, consumer and healthcare sectors, led by Maruti Suzuki, Infosys, Swiggy and HDFC Bank.
Tejas Networks reported a Rs 196.55 crore loss in Q2, impacted by an 88% revenue drop and a significant BSNL order deferral. Despite a large inventory, the company secured private 5G wins and PLI incentives, signaling future growth potential amidst current financial challenges.
The dollar strengthened on Friday following weaker-than-expected U.S. jobs growth, suggesting the Federal Reserve may hold interest rates steady. The yen weakened as Japan's Prime Minister considers a snap election, while the euro declined against the dollar amid mixed European economic data.
The Indian stock market has been on a downward trend, recording losses for the fifth straight day. Investors are pulling back on their portfolios in light of impending US job statistics and a critical Supreme Court verdict on tariffs.
Next week, Torrent Pharmaceuticals is set to launch a hefty debt sale, targeting around 12,500 crore in fundraising. This capital will play a critical role in facilitating the company's acquisition of JB Chemicals & Pharmaceuticals. The strategy includes issuing commercial paper and non-convertible debentures, showcasing the increasing reliance on debt markets for corporate buyouts.
In December, mutual fund investors took a gold and silver plunge, ramping up their stakes in precious metal funds. Meanwhile, equity and fixed-income investments cooled off, indicating a cautious approach in the market. Additionally, multi-asset allocation funds attracted more capital, underscoring a trend towards safer investment choices as investors hedge against uncertainty.
U.S. stocks reached record highs Friday following a mixed jobs report. While hiring slowed, the unemployment rate improved, suggesting a stable job market that might delay but not eliminate Federal Reserve interest rate cuts. Energy and housing sectors saw significant gains, while General Motors faced a substantial hit due to its EV pullback.
Walmart is set to join the prestigious Nasdaq-100 Index. The retail giant will replace British drugmaker AstraZeneca. This move takes effect on January 20. Walmart is also joining the Nasdaq-100 Equal Weighted Index and the Nasdaq-100 Ex-Tech Sector Index. Companies often switch exchanges for better alignment with investor bases and services. The Nasdaq-100 is known for including top non-financial companies.
Saks Global, which owns Saks Fifth Avenue and Neiman Marcus, is expected to imminently file for bankruptcy protection, leaving questions about the retailer's future.
