💹 Economy & Policy
• RBI’s gold reserves crossed 880 metric tonnes, marking a record high as India strengthens its external buffers amid global uncertainty.
• Cheaper steel imports from China, Japan, and Vietnam are hurting Indian producers; RBI warned of dumping threats impacting domestic industry margins.
• Auto sector clocked its strongest quarter yet, with deals worth $4.6 billion, according to Grant Thornton, reflecting robust M&A and investment activity.
• Indian Railways is considering an annuity model to attract private investment and boost long-term infrastructure development.
• Reports suggest the U.S. may cut India’s average tariff rate to 15–16% in a new trade deal, contingent on reduced Russian oil imports — a major diplomatic breakthrough if finalized.
📈 Equity Markets
• GIFT Nifty surged 400+ points to 26,260, indicating a strong gap-up opening for Indian equities amid optimism over the proposed India–U.S. trade deal.
• Rupee traded steady at 87.78–87.82 per dollar, supported by robust FPI inflows and stable global cues.
• U.S. markets closed lower overnight — Dow down 334 pts (-0.71%), S&P 500 down 0.53%, Nasdaq down 0.93%, as tech earnings disappointed.
• Netflix plunged 10% after weak Q4 revenue guidance despite Q3 beat; Tesla fell 3.8% on lower earnings; IBM dropped 5% despite topping EPS estimates due to weak software outlook.
• Asian markets opened sharply lower as U.S.–China trade tensions resurfaced after reports of fresh U.S. restrictions on software exports.
- Nikkei -1.5%
- Hang Seng -0.4%
- Kospi -1.5%
- Bank of Korea kept rates at 2.5% amid debt and housing concerns.
🏦 Companies & Commodities
• Crude oil jumped 3% to $64/barrel (Brent) after Trump imposed sanctions on Russian oil giants Rosneft and Lukoil, raising supply concerns.
• Gold fell 0.6% to $4,071/oz, extending declines after the previous session’s record 5.7% crash.
• Domestic steel and metal producers face margin pressure from imported price competition, even as infra demand remains strong.
🌏 Global Snapshot
• Global markets turned risk-averse following renewed U.S.–China friction, overshadowing earlier rate-cut optimism.
• Investors remain focused on upcoming Fed and BoE policy decisions, along with developments in the India–U.S. trade corridor.