IMF projects $2.5 billion in 2026 net income despite high uncertainty
The International Monetary Fund anticipates a net income of approximately $2.5 billion for the 2026 financial year, with projections for $2.6 billion in both 2027 and 2028. Precautionary balances are set to reach $35.9 billion by 2026. The IMF will maintain its lending rate margin at 60 basis points for member countries.
Citi downgrades India to ‘Underweight’ amid earnings and geopolitical risks
Mumbai Citi has downgraded India to underweight, citing persistent macroeconomic and geopolitical challenges alongside weaker earnings projections. The brokerage anticipates an 11.7% upside for the Nifty, reaching 27,000. While acknowledging lighter market positioning, Citi’s earnings forecasts for FY27-28 are still factoring in the Iran War’s impact. Banks, telecom, defence, and pharma are favored sectors.
Sebi moves to curb misuse of exchange data with new 30-day rule
Sebi has announced that market price data for listed companies will be available with a 30-day lag for investor education and awareness activities. This new regulation, effective July 1, 2026, aims to prevent data misuse and ensure educational content remains current. The National Institute of Securities Markets has received a special exemption.
SBI Q4 profit rises 6%, investors cautious over bond yield impact
State Bank of India achieved its second-highest annual corporate profit, reaching ₹83,299 crore. Despite robust loan growth, investor sentiment dipped due to margin pressures and treasury losses. The bank’s net profit rose 6% in the fourth quarter. Chairman CS Setty expressed confidence in continued credit growth for the current fiscal year.
Weak margins, treasury income drag SBI shares lower
State Bank of India shares experienced their largest single-day drop in two years, falling nearly 7% after disappointing fourth-quarter earnings. The decline was attributed to reduced net interest margins and lower treasury income. Analysts suggest potential further dips, with support expected around the ₹970-990 zone.
Five companies get regulator’s approval for public issues
Indian regulator Sebi has given the green light for five companies to launch their Initial Public Offerings. Dhoot Transmission, Horizon Industrial Parks, Hotel Polo Towers, Crystal Crop Protection, and Surgiwear have received Sebi’s observations. This allows them to proceed with raising funds through public issues.
To exercise ESOPs, staff of listed cos can pledge shares in trading window closures
Employees exercising stock options can now pledge shares for funds during trading window closures, thanks to a Sebi clarification. This provides regulatory comfort for bona fide transactions, aiding employees who rely on financing to exercise vested options. However, lenders invoking pledged shares will still face contra-trade restrictions.
RBI imposes penalties on YES Bank, Hinduja Housing Finance
The RBI said the bank failed to put in place a system of using KYC Identifier assigned by Central KYC Records Registry for the purpose of establishing an account-based relationship with customers.
Geopolitical tensions drag markets lower, but Nifty ends week in green
Indian equities closed lower Friday, impacted by renewed US-Iran tensions, though the market secured weekly gains thanks to falling oil prices. The Nifty 50 and Sensex saw dips, with investor sentiment cautious due to geopolitical risks and potential impacts on corporate earnings from rising input costs. Sectoral performance was mixed, with banking stocks facing pressure.
US stocks today: S&P 500 and Nasdaq notch records, boosted by AI and earnings optimism
The S&P 500 and Nasdaq reached record highs, driven by AI-related stocks like Nvidia and Sandisk, alongside a resilient jobs report. Despite broad sector declines, strong first-quarter earnings, particularly from tech giants, fueled investor optimism. This surge occurred despite rising oil prices and Middle East tensions, highlighting the market’s focus on corporate performance and economic […]