Asian markets traded in positive territory, with Hong Kong’s Hang Seng Index rising 2.33%, even as fresh trade tensions resurfaced. Over the weekend, US President Donald Trump announced plans to increase global tariffs to 15% from 10%. However, a ruling by the US Supreme Court striking down a significant portion of the president’s trade agenda tempered market concerns.
Markets in China and Japan remained shut for a holiday, limiting broader regional cues.
Indian benchmark indices are expected to open on a flat note. Early indicators suggest a cautious start, with GIFT Nifty trading at 25,745, compared with Friday’s Nifty Futures close of 25,584.
Wall Street ended the previous session higher after the Supreme Court’s decision was seen as easing fears around sweeping tariff measures. The Dow Jones Industrial Average gained 230 points, or 0.47%, to settle at 49,625. The Nasdaq Composite rose 203 points, or 0.90%, closing at 22,886.
Pick of the Week
Varun Beverages has been highlighted with a ‘buy’ recommendation, reflecting optimism around its growth outlook.
Result Watch
CIE Automotive remains a ‘buy’ following its Q3FY26 earnings update, with analysts maintaining a constructive view on the company’s performance.
News in Focus
ICICI Bank said the Maharashtra GST Department has issued a tax demand of Rs 50 crore, along with an additional Rs 50 crore towards interest and penalty.
RailTel Corporation of India announced it has received a Letter of Intent, in consortium with Ashoka Buildcon, for a multi-year railway modernisation project in Maharashtra valued at Rs 1,136 crore.
Vikram Solar has signed a Rs 2,000 crore agreement with Jupiter International for the procurement of 2 GW of TopCon and PERC solar cells.
Meanwhile, Canara Bank has entered into a distribution partnership with SBI Funds Management to offer the latter’s mutual fund products to its customers.
