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The two defence stocks this portfolio manager likes
Conrad Saldanha, MD & Portfolio Manager of Neuberger Berman, says market uncertainty due to Middle East tensions has created selective long-term opportunities. He sees attractive valuations emerging in global IT services after a sharp correction, while tech fundamentals remain strong. In India, he is selectively adding large caps like Reliance Industries and Bharti Airtel and likes IT midcaps such as Coforge and Persistent Systems as well as defence play Data Patterns, on weakness. Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
China sets a lower economic growth target of 4.5% to 5% for 2026 as challenges loom
China targets 4.5% to 5% growth for 2023 amid property slump and global uncertainty. Premier Li Qiang announced the goal, focusing on structural adjustments and tech ambitions.
Pulse of the Street: Bears rule the week; FPIs return deemed tactical
Weak global cues and tech-sector volatility weight heavily on Indian equities this week. While selective optimism persists in certain pockets, experts warn that overall market sentiment remains firmly negative.
Watch | Emkay’s Seshadri Sen: IT sell-off overdone, stick to largecaps amid AI disruption
Seshadri Sen, Head of Research & Strategist at Emkay Global Financial Services, says the IT sell-off has overshot fundamentals, creating a tactical opportunity in large-cap names. Despite AI disruption, firms will still need IT vendors for integration and deployment, and AI could expand tech spending. He sees no signs of structural stress and says current pessimism is driven more by narrative than reality.
Rs 5 lakh crore wiped out! Sensex tumbles 961 points, Nifty below 25,200. 4 key factors why stock market fell today
Indian stock markets experienced a sharp decline for the second consecutive session, with significant drops in FMCG, auto, realty, and pharma sectors. This selloff erased over Rs 5 lakh crore in investor wealth, influenced by heavy FII selling and weak global market sentiment, including a tech selloff on Wall Street. Heightened US-Iran tensions also contributed to the market downturn.
Global IT stocks react to Nvidia rally and Salesforce’s cautious forecast
Nvidia reported strong growth, led by continued demand for AI and sharp expansion in its data centre business, indicating that investment in AI infrastructure is still rising. However, despite strong numbers, the stock reaction was muted as markets may already have priced in consistent earnings beats. Salesforce, while posting better-than-expected results, disappointed investors with weaker guidance, raising some concerns for software and SaaS companies, including Indian IT firms tracking global tech demand.
HCLTech partners IIT Kanpur to turn research into real-world tech for global companies
HCLTech and IIT Kanpur signed an MoU to boost AI, robotics, and cybersecurity innovation for GCCs, announced at the GCC 4.0 summit in Hyderabad.
Reliance Industries restructures AI subsidiary; Meta to own 30% stake after allotment — Here's what you need to know
Reliance Industries Limited is restructuring its AI subsidiary, Reliance Enterprise Intelligence Limited (REIL), where global tech giant Meta Platforms will own a 30% shareholding. Here's what investors need to know.
AI may cut IT costs but push companies to spend more on tech: Axis AMC
Ashish Gupta, CIO at Axis Asset Management Company, expects double-digit loan growth in banking as economic indicators improve and sees earnings growth of 13–14% in the coming year. While confidence in recovery has strengthened, he cautioned that FII flows remain a risk due to global growth and currency factors.
FII inflows into India since US trade deal top $2 bn, worst of rupee’s fall behind us: Goldman Sachs
Sunil Koul, Global EM Equity Strategist at Goldman Sachs expects foreign investment to return to India, driven by three factors: the Indo-US trade deal removing a key uncertainty, strong global inflows into emerging markets, and investors diversifying away from volatile tech stocks — making Indian equities an attractive destination for capital.
Momentum Stocks: Standard Engg, Agri-Tech India, Ponni Sugars rally up to 13% on sheer momentum
MBL Infra, Bafna Pharma, G-Tec Jainx Education were locked in the upper band, reflecting strong demand and limited supply—often a sign of bullish near-term sentiment.
First Tick: Top global cues to watch in today’s trade
Wall Street ended higher on Wednesday, extending its tech-led rally and touching two-week highs as worries over artificial intelligence disruption and costs took a back seat to renewed optimism over the nascent technology's potential benefits.