Wednesday, March 11
The US trade deficit significantly narrowed in August, falling to $59.6 billion as tariffs reduced imports. Despite this pullback, the trade gap has widened year-to-date, though a narrower deficit typically supports economic growth. President Trump's tariffs, aimed at addressing perceived exploitation, have faced scrutiny over their impact on inflation and legality.
Infosys' largest-ever share buyback, valued at Rs 18,000 crore, commenced today and will conclude on November 26. Shareholders approved the repurchase of up to 10 crore shares at ₹1,800 each, with a reserved quota for small shareholders. Promoters will not participate in this buyback.
Stock market today: The NSE Nifty gained 142.60 points, or 0.55 per cent, finishing at 26,052.65. The BSE Sensex advanced by 513.45 points, or 0.61 per cent, closing at 85,186.47. The index reached a high of 85,236.77 during trading, up by 563.75 points or 0.66 per cent
Gold prices experienced a notable recovery in futures trading, rebounding from their previous slump as investors eagerly positioned themselves ahead of the US Federal Reserve's forthcoming meeting minutes. This rally, which also impacted silver prices, underscores gold's renewed allure as a safe-haven amidst looming worries about inflated tech valuations and unpredictable stock market dynamics.
India's economy is poised for robust growth, with projections indicating a 7.5% expansion in Q2 FY26. This surge is fueled by increased investment, recovering rural demand, and the positive impact of GST rationalization. Strong performances in services and manufacturing, alongside a significant rise in consumption indicators, signal a broad-based economic uplift.
India's electronics sector is experiencing significant growth, driven by new free trade agreements and supportive government policies. Industry leaders anticipate a surge in exports to $120 billion by March 2026, with ambitious long-term targets. Reforms, skilling initiatives, and new manufacturing projects are strengthening domestic capabilities and integrating India into global value chains.
Asian markets declined Tuesday, mirroring a Wall Street slide, as investors awaited US economic data and reassessed Federal Reserve rate cut expectations. Japan's Nikkei tumbled over 2%, with bond yields climbing amid speculation about the Bank of Japan's policy. Gold and oil prices also softened, reflecting a broader risk-off sentiment.
Analysts are cautious on Tata Motors due to JLR's cyberattack and headwinds, while GMR Airports sees strong non-aero growth boosting its outlook. Hero MotoCorp's market share decline has stabilized, with attractive valuations. LG Electronics is poised for growth in affordable premium durables, and Apollo Tyres' margins are improving on lower raw material costs.
Microsoft has forged a significant cloud infrastructure partnership with AI firm Anthropic and chipmaker Nvidia, signaling a shift away from exclusive reliance on OpenAI. Anthropic will purchase $30 billion in computing capacity from Microsoft Azure, with Nvidia investing up to $10 billion and Microsoft up to $5 billion in Anthropic.
Political leanings are influencing electric vehicle purchases globally, with over 40% of EV drivers considering avoiding Tesla due to its founder's controversial stances. A survey reveals a significant portion of buyers are wary of brands or countries of origin based on political factors, impacting choices in major markets like the US and Germany.
