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Indian stocks commenced trading on Wednesday with a decline, as both the Sensex and Nifty extended their losing streak to a fourth consecutive day. Investor sentiment was negatively impacted by concerns surrounding U.S. H-1B visa regulations. The downturn was widespread, with continuous foreign capital outflows overshadowing expectations of increased consumption during the festive season.

PhonePe IPO: The IPO will raise around Rs 12,000 crore ($1.35 billion), Moneycontrol reported, citing sources.

Hyundai Motor India s stock is performing well due to GST reforms and festive sales. Shares hit a record high, and analysts predict further growth. Nomura expects India to contribute significantly to Hyundai s global sales by 2030. Capacity expansion is underway with a new Pune facility. The company plans new EV and hybrid models.

Indian government bonds are expected to trade narrowly on Wednesday. Investors are focusing on the borrowing calendar for the second half of fiscal year 2026. Sentiment is supported by strong cutoffs at a recent state debt auction. Traders are also awaiting states quarterly borrowing calendar. Banking system liquidity slipped into a deficit on Monday.

Tether, a crypto firm, considers raising up to $20 billion through private placement. This could value the firm at about $500 billion. The company is evaluating a raise from key investors. Tether s USDT stablecoin has a large market capitalization. The firm plans to launch a U.S.-based stablecoin. A former White House executive joined as strategic advisor.

Ganesh Consumer IPO: Ganesh Consumer Products’ IPO, now in its final day of subscription, has seen 41% overall subscription by Day 2, led by QIBs and retail investors. In the grey market, the issue is trading at a modest 2.5% premium over its ₹322 issue price, indicating cautious investor sentiment.

Several Indian defense stocks, including Unimech Aerospace, Bharat Dynamics, and Solar Industries, are trading at high valuations, raising concerns about justification. Despite valuation worries, analysts cite strong order books, policy support, rising exports, and the government s self-reliance push as reasons for investor confidence.

For the first time in fiscal year 2026, banking system liquidity has moved into deficit due to tax outflows. The Reserve Bank of India is infusing funds to stabilize overnight rates. Tax payments, including GST and advance taxes, caused the shift. The RBI conducted variable rate repo auctions to manage rates.

The Indian rupee plummeted to a record low of 88.7975 against the dollar, becoming the worst-performing Asian currency due to rising US visa fees and trade tensions. These factors threaten India s IT sector and remittances, exacerbating pressures from high tariffs and weak foreign investment. The RBI s limited intervention suggests a possible strategy to aid exporters amidst trade uncertainties.

Money managers are advising wealthy Indian investors to consider higher-risk debt options. These options include deals from Shapoorji Pallonji and Pharmeasy. Minimum investments are significantly higher, creating an exclusive market. These private debt transactions offer double-digit returns. However, they come with limited liquidity and increased risk. Experts emphasize the importance of understanding these risks before investing.