Latest Stock Market News

RBI Governor Sanjay Malhotra affirmed India as an "anchor of stability" due to resilient growth, robust macroeconomic fundamentals, and continuous reforms. He cautioned against global stock market complacency and rising public debt, noting gold prices now reflect global uncertainties. Malhotra also highlighted India s unique central bank autonomy framework.

Financial regulators - the Reserve Bank of India, Securities and Exchange Board of India, Insurance Regulatory and Development Authority of India and Pension Fund Regulatory and Development Authority -would not enforce ceilings on the amounts that can be borrowed by Indian companies from overseas markets. The RBI has also allowed borrowers that is under a debt restructuring scheme or corporate insolvency resolution process to raise ECB only if specifically permitted under the restructuring or resolution plan.

Life insurers face a similar squeeze. The industry paid about ?24,000 crore in GST in FY24, offset by ? 14,000 crore of ITC. With credits no longer available, the new two-rate system leaves them facing a ?15,000 crore sector-wide hit, part of which will show up in company profit and loss accounts and embedded values. Despite the exemption, customers may not see a meaningful drop in premiums as insurers adjust pricing to recoup lost credits, analysts said.

Finance Minister Nirmala Sitharaman affirmed India s economic growth is firmly anchored in robust domestic consumption, blunting external shocks. Addressing the Kautilya Economic Conclave, she emphasized India s strong resilience and evolving economic leverage, urging developing nations to be active global participants. Sitharaman detailed strategic reforms driving growth, targeting 8% annually to achieve developed nation status by 2047.

Gold sales volume dropped by a quarter this Dussehra to 18 tonnes due to sharply higher prices, despite a 30-35% increase in sales value. Consumers are increasingly exchanging old gold, which now accounts for over half of sales, and buying gold coins or bars as investments, anticipating further price stability.

Indian equity indices closed higher on Friday, recovering from early losses as stock-specific trading dominated after the RBI s dovish stance fizzled out. Midcap, smallcap, metal, and PSU bank sectors saw significant gains, with experts suggesting buying opportunities on dips towards 24,400-24,600 for Nifty.

ICICI Securities reports that defensive sectors like FMCG, IT, and healthcare have seen their market-cap share drop to a 20% low since 2011, from 30% in 2020. Their profit pool share also plummeted to 16%, while valuations remain high at 32 times P/E. Meanwhile, cyclicals P/B ratios have surged significantly from 2020 bottoms.

Gold miners have significantly outperformed chip stocks this year, soaring 135% compared to 40%, driven by gold s 45% rally. This surge is fueled by central bank buying and rate cut expectations, with major miners like Fresnillo quadrupling. Despite strong performance, gold miners valuations remain attractive at 13 times forward earnings.

Capital markets regulator Sebi on Friday said Synoptics Technologies and its promoters will remain barred from the securities market till the outcome of a probe in a case of alleged siphoning off IPO proceeds.

Goldman Sachs sold over 1 crore shares of Eternal Limited for Rs 355.32 crore to BOFA Securities. Eternal, formerly Zomato, has surpassed Tata Motors and Titan in market capitalization, driven by strong performance in food delivery and quick commerce. Despite a 90% drop in Q1FY26 net profit due to investments, revenue surged, and HSBC reiterated a Buy call.