Business

The Nifty 50 index has dropped 11.5% since its September 2024 peak, reflecting weak GDP growth and earnings. Defensive sectors like FMCG, IT, and Pharma have shown resilience, with FMCG poised for potential growth amidst low market weightage and historical trends.

Infosys shares fell nearly 6% due to a muted outlook for the fourth quarter and cautious sentiment regarding Donald Trump’s expected policies. The stock closed at ₹1,817.50, down 5.8%. The Nifty IT Index fell 2.7%. Midcap IT companies are trading at higher valuations than large-cap players. IT stocks may face uncertainty from a global slowdown.

Reliance Jio’s Q3FY25 earnings missed expectations due to muted user additions, modest ARPU growth, and higher costs. However, Jio’s home broadband business showed strong growth, particularly with its 5G-based FWA services. Enterprise services also saw significant growth in government contracts.

Global equities rose, U.S. Treasury yields turned higher, and the dollar strengthened as positive economic data and strong earnings boosted investor confidence. Manufacturing output and single-family homebuilding increased. Wall Street’s major indexes saw substantial gains. The Fed’s data and optimistic housing and industrial production reports indicated potential slowed rate cuts. Oil and gold markets showed mixed responses.

The H5N1 virus is common in wild birds and other animals. While it has not conclusively been found to spread from person to person, the amount of bird flu circulating among animals and humans has alarmed scientists. Many experts fear that H5N1, coupled with seasonal flu, could mutate into a more contagious form and trigger a deadly pandemic.