European shares deepened their pullback on Thursday as investors recalibrated bets following a strong start to the year, with geopolitical risks and major earnings updates in focus.
Indian equity markets experienced sharp profit-taking, with the Nifty slipping below the crucial 26,000 mark and breaching 25,950, signaling heightened near-term volatility. Experts anticipate this uncertainty to persist until early next week, awaiting U.S. Supreme Court developments. A potential downside to 25,700 is noted if the Nifty sustains below 26,000.
Asian equities have started 2026 strongly, driven by fiscal expansion in developed markets and persistent geopolitical tensions. Rising commodity prices, particularly base metals, are linked to AI-driven demand. Investor Manishi Raychaudhuri remains positive on Asian equities, with a selective overweight on India, favoring financials, discretionary consumption, commodities, and industrials.
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.
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.
