Market News
Stay updated with the latest market trends, earnings, and economic indicators.
ADB trims India's growth projection to 6.6% reflecting elevated energy prices
Asian Development Bank on Thursday lowered India's GDP growth projection to 6.6 per cent as against 6.9 per cent estimated earlier for the current fiscal on concerns of higher energy prices fuelled by the Middle East crisis. Despite the growth moderation, India still continues to be the fastest-growing major economy in the world, ADB said. India's GDP growth forecasts are revised down to 6.6 per cent for FY2026 (ending 31 March 2027) and maintained at 7.3 per cent for FY2027, Asian Development Outlook (ADO) July 2026 said. Growth will be supported by policy interventions to attract more foreign capital, as well as fuel tax cuts, targeted credit support, strong services exports, and public capital expenditure. The FY2027 growth forecast remains unchanged from April, underpinned by improved global conditions and export competitiveness gained through trade agreements with various partners. However, risks tilt to the downside driven by heightened geopolitical tensions, or weather-induced
Indian banks more exposed to West Asia crisis among APAC region: Moody's
Indian banks face significant exposure due to energy import reliance. Higher fuel costs will strain consumers and businesses, increasing credit stress. Non-bank lenders with unsecured retail loans are particularly vulnerable. Despite these pressures, Indian banks possess strong capital buffers.
Watch | Sanjay Parekh on where he sees value in banks, IT, cement and telecom stocks
Sohum Asset Managers’ Founder & CIO, Sanjay Parekh, says markets look sluggish despite improving macro conditions, with Q3 Nifty earnings near 8–9%. He sees recovery in CVs (Ashok Leyland), credit growth at ICICI Bank and gradual picka a up in cement and steel. Portfolio stays domestic-focused: overweight telecom, NBFCs, industrials, cement, utilities, ports and logistics; underweight oil & gas and banks, zero FMCG. Watching IT names like Infosys and TCS, mid-cap tech (Persistent, Coforge, Mastek), defence HAL, quick commerce Zomato and Swiggy, and capital goods L&T, JSW Energy.