Thursday, March 12
US President Trump stated that America is in trade talks with India. He sees BRICS as potentially anti-dollar. He mentioned India's willingness to substantially cut tariffs.
Apple's plan to make India a major iPhone export hub faces challenges as the US imposes a 25% tariff on Indian goods, potentially delaying expansion plans. Coupled with China's restrictions on electronic components, this could slow down electronics manufacturing and hurt India's export goals. Experts caution increased costs and supply chain disruptions could affect demand and competitiveness.
Stock market recommendations: Mirae Asset Sharekhan suggests selling Tata Tech and NCC Ltd. Tata Tech is expected to decline to Rs 640 due to a flag pattern breakout and negative momentum. NCC Ltd is also predicted to fall to Rs 201 after breaking a consolidation pattern and facing resistance at its 20-day moving average.
Boeing's second-quarter loss narrowed significantly, with revenue exceeding expectations due to increased commercial plane deliveries. Despite this financial improvement, the company faces ongoing scrutiny regarding manufacturing lapses highlighted by the NTSB and potential labor unrest with union workers poised to strike. The recent Air India Boeing 787 crash, though not yet attributed to design flaws, adds to the challenges.
India's economy shows cautious optimism in mid-2025, according to a finance ministry report, highlighting resilience despite global headwinds. Forecasts project FY26 growth in the 6.2-6.5% range, supported by robust domestic demand. However, the report cautions about slowing credit growth and potential risks from a global slowdown, particularly in the US, which could dampen demand for Indian exports.
Stock market today: The NSE Nifty, with 50 shares, increased by 140.20 points or 0.57 per cent to 24,821.10. The BSE Sensex, comprising 30 shares, rose by 446.93 points or 0.55 per cent to close at 81,337.95. During trading hours, it increased by 538.86 points or 0.66 per cent to 81,429.88.
India's trade demonstrated resilience in Q1 FY26, with exports rising by 5.9% YoY, driven by core merchandise growth. Stable foreign exchange reserves and a steady rupee further bolstered India's economic position amidst global uncertainties. Nations are pursuing bilateral talks and supply chain diversification to navigate the evolving trade landscape.
A recent SBI report indicates that China's rare earth export ban could significantly impact India's production and exports across key sectors like transport, metals, and electronics. With India heavily reliant on China for these minerals, the report emphasizes the urgent need to boost domestic exploration.
Stock market crash today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, extended their losing streak on Monday. While Nifty50 went below 24,650 intraday, BSE Sensex tanked over 700 points.
