In 2025, Nifty’s returns are expected to be muted due to high valuations and global uncertainties, including Trump’s policies and rising dollar. CLSA favours commodities and insurance while being underweight on IT, discretionary, industrials, and healthcare. Tata Motors, NTPC, Nestle, and Britannia have been added to its India focus portfolio, with HDFC Bank removed.
US Stocks: Nasdaq, S&P end lower as tech megacap declines outweigh upbeat chip outlook
Indian markets saw a mixed close on Thursday. While the Nasdaq and S&P dipped due to Big Tech’s AI spending concerns, the Dow edged higher.