Shares of NALCO fell on Thursday, ending a four-day, 14% rally, as profit booking hit Indias metals sector. All 15 stocks on the Nifty Metal index traded lower amid cooling global commodity prices and stretched valuations.
Speculation about changes to insurance commissions is back on Dalal Street. This is raising concerns for distributors and insurers. Analysts warn that stock prices might not fully reflect these potential regulatory shifts. While the December quarter shows strong momentum for insurers, especially in health and term plans, any commission cuts could hurt volumes. Policybazaar also faces uncertainty.
JM Financial advises caution on oil marketing companies (OMCs) like HPCL, IOCL, and BPCL due to potential excise duty hikes in the upcoming budget. The brokerage reiterates buy ratings on upstream producers Oil India and ONGC, citing attractive valuations and medium-term production growth potential amidst subdued crude prices.
As per the market data, up to 110 million shares, or about 2% of the companys outstanding equity, became tradeable. The increase in free float revived nearterm supply concerns, weighing on the stock even as brokerages maintained a constructive view on the companys longerterm prospects.
Silver may see intermittent corrections in 2026 despite strong long-term fundamentals, with Saif Mukadam advising caution on current investment levels. Gold is expected to outperform silver, while oil prices are likely to remain under pressure due to a supply surplus. Copper's structural story remains intact, but patience is needed for entry, and aluminium stands out among base metals.
Following Indian military strikes on terror camps, Pakistan launched an urgent and costly lobbying blitz in Washington D.C. between May 7 and May 10. The nation's diplomats and a hired lobbying firm made over 60 points of contact with US officials, seeking intervention to halt India's actions. This diplomatic scramble occurred as Pakistan privately expressed panic over the strikes.
Gold and silver traded mixed on Thursday after a volatile week. Gold prices slipped on the MCX amid pressure from strong U.S. economic data and a firmer dollar, while silver edged higher after sharp losses in the previous session.
Major US banks are set to post stronger fourth-quarter earnings as a revival in dealmaking, resilient trading activity and improving capital markets lift revenues. Analysts expect investment banking and markets businesses to drive results amid steady loan growth and supportive economic conditions.
