Technology stocks led a broad market decline on Friday, with the S&P 500 and Nasdaq falling over 1%. Concerns over an AI bubble, fueled by Broadcom and Oracle's warnings, coupled with rising Treasury yields, pressured investors. Anticipation of key labor and inflation data also contributed to market caution.
This would be the first time in recent years that Pakistan has served a demarche to an European envoy. European envoys are generally given red carpet welcome and treated with care by Islamabad given its financial dependence on Europe through GSP Plus and other schemes. Norway hosts sizeable number of Pakistani nationals.
ICICI Direct forecasts the Nifty reaching 30,000 by 2026. The brokerage suggests investing in Bajaj Finserv, Indian Oil Corporation, LTIMindtree, Pidilite Industries, SRF, Can Fin Homes, and Jamna Auto Industries. BFSI and Consumption sectors are expected to lead growth. The Bank Nifty is also projected for significant gains. Current market breadth indicates a potential for broad-based opportunities next year.
Indian stock markets saw a modest rise on Friday. The Nifty and Sensex closed higher, gaining about half a per cent. This uptick followed a US interest rate cut. However, uncertainty surrounding a US-India trade deal and a weaker rupee limited further gains. Investors are awaiting clarity on trade tariffs.
The Transportation Security Administration is renewing Homeland Security Secretary Kristi Noems push to end a collective bargaining agreement with airport screening officers.
