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Rupee opens at 93.53/$ vs Tuesday’s close of 94.83/$

Rupee strengthens by ₹1.30 paise against US dollar

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

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

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

Twelve personnel, including senior leader Ashish Parthasarathy, are penalised by HDFC Bank for allegedly misselling Credit Suisse AT1 bonds linked to errors in Dubai net worth verification.

CNBC Access 

The Price of Silver fell in the international market after Trump’s speech.

After Trump’s speech, which saw him continue to vow further escalation, the price of Brent Crude surged beyond 105 per barrel.

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

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

1 – Nomura Downgrades Indian Markets

– Downgrade India to “neutral” from “overweight”

– Nifty target at 24,900 from 29,300 earlier

2 – Primary Trigger Behind Downgrade

Primary trigger behind the downgrade is the possibility of elevated oil / energy / commodity prices due to ongoing conflict in West Asia.

3 – Two Other Emerging Triggers – PART I

– Impact of AI on India’s demographic dividend and structural story

– Too early to draw conclusions but can weigh on sentiment

4 – Two Other Emerging Triggers – PART II

– Domestic equity flows slowing down

– Subdued market returns could moderate domestic participation

5 – Pressure For Valuations

– MSCI India trades at 18.9x forward P/E (55% Premium to Asia Ex-Japan)

– FY27 earnings est. (15-18%) yet to reflect earnings risks

6 – Rationale Behind 24,900 Nifty Target

– Assumption of a 7.5% reduction in earnings estimates

– 10-15% risk to consensus earnings estimates if oil remains elevated

7 – The Struggle To Outperform

– India will struggle to outperform regional peers

– Recommend switch to Korea, MSCI China

– Korea attractive after recent fall

8 – What Happens To Oil

– India vulnerable to sustained high energy prices

– Could take 2-3 months for oil prices to normalize after war ends

9 – The Road Ahead

– Expect returns broadly in-line with overall MSCI Asia ex-Japan index

– Recommend bottom-up approach to stock selection

10 – Key Risks To Estimates

– Faster than expected resolution of geopolitical tensions

– Disappointment in the AI narrative / capex cycle

– An oversold Indian market

The GIFT Nifty extends losses, falling 470 points

TRADE SET UP

Due in large part to substantial institutional interest, the offer was subscribed 1.53 times overall. There were 4.74 subscriptions for the qualified institutional buyers (QIB) group and 47% for the non-institutional investors (NII) segment. 16% of the retail segment was subscribed to.

After dropping 1.8% to $99.37 per barrel after sliding 2.7% on Wednesday, Brent crude prices reversed losses and were above $105.

GIFTNifty lower, now indicating a gap-down start for the Indian market, trading at a discount of over 250 points after Trump’s address to the nation (US) on West Asia War, says will hit Iran ‘very hard’ for next 2-3 weeks

The Dow Futures is trading lower, falling to 22 points.

The NIfty implied open is indicating a volatile start as Donald Trump continues his speech

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