Sachin Shah of Emkay Investment Managers sees strong growth ahead, driven by domestic consumption and manufacturing. Despite market consolidation, he highlights opportunities in IT, autos, FMCG, and private banking, anticipating a broad-based rally fueled by a virtuous cycle of consumption and capex in the coming years.
A federal government shutdown has led to increased flight delays across the U.S. due to staffing shortages affecting air traffic controllers and airport security screeners. Union leaders warn the situation is worsening, with potential impacts on upcoming holiday travel as critical federal workers continue without pay.
The U.S. dollar surged to a six-week peak as escalating government shutdown fears drove investors towards safe-haven assets. Gold prices hit new highs amid global economic uncertainty. Meanwhile, the yen weakened against the dollar on speculation about Japan's new prime minister's economic policies. Central bank decisions from New Zealand and the U.S. Federal Reserve are also on the horizon.
British Prime Minister Keir Starmer is in India to promote Scotch whisky sales. A new trade deal is expected to significantly boost exports. This agreement will lower import tariffs on Scottish products. The deal aims to increase trade and create jobs in the UK. It is seen as a major opportunity for Scotland's economy and its iconic brands.
Japan's Foreign Minister Takeshi Iwaya has issued a stern warning to Israel. He stated that any action jeopardizing the two-state solution could lead to sanctions or recognition of Palestinian statehood. Meanwhile, the United States, through Secretary of State Marco Rubio, has reiterated its unwavering support for Israel.
Banks are seeking higher offers for the Sahara Star Hotel's debt. Union Bank of India leads the process. JC Flowers ARC had previously offered 279 crore for the 729 crore debt. Banks aim for a minimum bid of 293 crore. The hotel is a valuable property with full security for the loans. An auction is expected soon.
Wall Street professionals are increasingly concerned about the rapid, massive gains in tech stocks, fueled by OpenAI's expansion and deals with companies like AMD and Oracle. These dramatic market value increases, reminiscent of the dot-com era, are raising fears of an unhealthy bubble and a potential market crash.
According to IPO market watchers, Tata Capital's grey market premium stood at 5 apiece, or 1.5%, over the upper end of its price band of 326 on Tuesday evening. LG shares were at 27.4%, or 312 premium to the upper end of the issue price of 1,140.
