M-cap share of defensives hits lowest level since 2011: ICICI Securities
ICICI Securities reports that defensive sectors like FMCG, IT, and healthcare have seen their market-cap share drop to a 20% low since 2011, from 30% in 2020. Their profit pool share also plummeted to 16%, while valuations remain high at 32 times P/E. Meanwhile, cyclicals’ P/B ratios have surged significantly from 2020 bottoms.
Dow, S&P 500 manage record closing highs; Nasdaq falls in volatile session
The S&P 500 and Dow achieved record closing highs Friday, navigating a volatile session amid an ongoing government shutdown. Interest rate-cut expectations strengthened, driven by weak economic data, including contracting services employment. Traders now anticipate a Fed rate cut in October as almost certain, with another probable in December, despite concerns about a prolonged shutdown’s […]
Gold stocks beat AI-led chip rally with 135% gain in 2025
Gold miners have significantly outperformed chip stocks this year, soaring 135% compared to 40%, driven by gold’s 45% rally. This surge is fueled by central bank buying and rate cut expectations, with major miners like Fresnillo quadrupling. Despite strong performance, gold miners’ valuations remain attractive at 13 times forward earnings.
RBI tweaks related party lending rules, unveils ‘unified’ framework
The move is aimed at tightening governance and reducing conflicts of interest in lending practices by commercial banks. The revised norms, effective from April 1, 2026, consolidate and replace over a dozen legacy circulars, creating a unified regulatory framework. RBI also introduced scale-based thresholds beyond which banks and non-banking financial companies (NBFCs) will need board […]
Robust consumption bulwark against external shocks: FM Sitharaman
Finance Minister Nirmala Sitharaman affirmed India’s economic growth is firmly anchored in robust domestic consumption, blunting external shocks. Addressing the Kautilya Economic Conclave, she emphasized India’s strong resilience and evolving economic leverage, urging developing nations to be active global participants. Sitharaman detailed strategic reforms driving growth, targeting 8% annually to achieve developed nation status by […]
Growth Uncapped: NBFCs can tap a billion dollars or more in ECBs
Financial regulators – the Reserve Bank of India, Securities and Exchange Board of India, Insurance Regulatory and Development Authority of India and Pension Fund Regulatory and Development Authority -would not enforce ceilings on the amounts that can be borrowed by Indian companies from overseas markets. The RBI has also allowed borrowers that is under a […]
Lenskart gets Sebi nod for Rs 8,000-crore IPO, aims for November listing: sources
Eyewear retailer Lenskart has received Sebi approval for its IPO, targeting a mid-November listing. The company aims to raise Rs 2,150 crore in fresh capital, with the total IPO size expected to be Rs 7,500-8,000 crore. Lenskart turned profitable in fiscal 2025, posting a net profit of Rs 297 crore, and will use proceeds for […]
Will stock-specific trading continue to drive market gains?
Indian equity indices closed higher on Friday, recovering from early losses as stock-specific trading dominated after the RBI’s dovish stance fizzled out. Midcap, smallcap, metal, and PSU bank sectors saw significant gains, with experts suggesting buying opportunities on dips towards 24,400-24,600 for Nifty.
Soaring prices stall Dussehra gold rush, volume down 25% this year
Gold sales volume dropped by a quarter this Dussehra to 18 tonnes due to sharply higher prices, despite a 30-35% increase in sales value. Consumers are increasingly exchanging old gold, which now accounts for over half of sales, and buying gold coins or bars as investments, anticipating further price stability.