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Rupee Check | Rupee Opens At 90.21/$ Vs Monday’s Close Of 90.28/$

Matt Orton, Chief Market Strategist, Raymond James Investment On CNBC-TV18

Venugopal Garre – Bernstein – India Strategy

CUT India To Neutral

India enters 2026 as one of the most expensive markets globally, with >20x forward P/E and a high15.1x being the average across 15 key economies we tracked

We’re back to a phase of heftier valuations across markets which have in the past rewarded cheaper markets well, as opposed to the phase starting FY24 when more expensive markets attract flows and get costlier.

Moreover, report discusses how years with limited catalysts are more of valuation play and catch-up trades rather than earnings driven.

While 2025 was a modest year for earnings – even after assuming a 13.5% earnings CAGR over FY28 and a 19x multiple on 2-year forward EPS we get a Nifty target of 28,100 which is a modest return of 7.5% this year

As we focus on absolute returns – this makes us cut India to neutral.

Here’s a list of stocks that are in focus going into trade today

Here’s a list of stocks that are in focus going into trade today

Here’s how the global market cues are placed this morning

Here’s how the global market cues are placed this morning

On Tuesday, January 6, Utkarsh Small Finance Bank Ltd. shares are under scrutiny following the lender’s third-quarter business statement.

WeWork India Management Ltd.’s shares will be closely watched on Tuesday as the company’s three-month shareholder lock-in period comes to an end. WeWork is a global provider of co-working spaces.

As traders assessed Venezuela’s prospects, oil prices stabilised following their largest increase in a week, but worries about a worldwide excess persisted.

After closing the previous session 1.7% higher, the West Texas Intermediate was nearing $58 per barrel.

As investors ignored geopolitical worries, Asian markets slightly increased during Tuesday’s opening, continuing the record-breaking run for global stocks.

With the Nikkei 225 Index leading the way with a 1% increase, the MSCI Asia Pacific Index continued to rise for the fourth day. Australia and South Korea saw a decline in stock prices.

GIFT Nifty is higher, trading at a premium of nearly 70 pts from Nifty Futures Monday close, indicating a start in the green for the Indian market

Due in large part to a cyber incident earlier in the quarter and the planned winding down of legacy Jaguar models prior to new introductions, Jaguar Land Rover (JLR), a wholly-owned subsidiary of Tata Motors Passenger Vehicles Ltd., reported a substantial fall in wholesale and retail sales for Q3 FY26.

Wall Street’s benchmark indices got off to a solid start in the first full trading week of 2026, maintaining their gains from last Friday in spite of US moves in Venezuela and dismissing their own economic worries.

Some of the stocks to watch out for include Kotak Mahindra Bank, ONGC, L&T Finance, Dabur India, Indian Energy Exchange, MOIL, and Utkarsh Small Finance Bank.

Check The Full List Here 

Indeed, for the second day in a row, the Nifty opened the week at a record high. The level that will be recorded as the new Nifty record is currently 26,373. However, there is some difficulty in maintaining the index over 26,300, whether it is due to normal profit booking, par for the course, or some underlying issues.

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