India and the European Union are set to hold detailed discussions on bolstering the security and resilience of undersea cables in the Indian Ocean. This crucial dialogue, involving military personnel and officials, aims to identify risks and develop practical solutions for protecting vital digital infrastructure. The cooperation underscores a shared commitment to maritime security and…
India’s exports rebounded strongly in November, surpassing October’s decline and indicating renewed momentum despite global economic uncertainty. Minister Piyush Goyal highlighted this recovery, alongside ongoing efforts to secure free trade agreements with several key global partners. He also affirmed the Indian economy’s resilience, citing robust GDP growth and healthy financial indicators.
Finance Minister Nirmala Sitharaman clarified that the IMF did not question India’s growth figures, attributing the ‘C’ grade on national accounts to an outdated base year. India will shift to a 2022-23 base year in 2026, addressing the IMF’s concern. The Fund acknowledged India’s healthy economic performance and resilience.
Wall Street saw mixed trading as corporate earnings presented a varied picture. While Marvell Technology and American Eagle Outfitters posted strong results, Macy’s and CrowdStrike faced headwinds despite beating profit expectations. Bond yields dipped following softer private payroll data, fueling hopes for a Federal Reserve rate cut. Global markets showed a mixed performance.
Veteran banker Uday Kotak points to persistent foreign selling by FPIs and PE funds as the primary driver behind the rupee’s sharp fall past 90 against the dollar. Despite strong domestic investor buying and robust GDP growth, India’s currency is Asia’s worst performer this year, pressured by broad dollar outflows and a widening trade deficit.
Silver price today: Silver prices surged to a new high of Rs 1,84,727 per kilogram on Wednesday, driven by a weakening rupee and strong international market trends. Gold futures also climbed significantly, with both precious metals benefiting from expectations of a US Federal Reserve interest rate cut next week.
India’s rupee hit a historic low of 90.30 against the US dollar, yet the government remains unconcerned. Chief Economic Adviser V Anantha Nageswaran stated the depreciation hasn’t impacted inflation or exports, expressing optimism for a recovery next year. Factors like FII outflows and dollar demand are influencing the currency’s slide.
Russian President Putin’s India visit is crucial for trade dynamics amidst US pressure. India’s energy security is now heavily reliant on discounted Russian crude, reshaping its procurement patterns. The visit aims to manage dependence in a fractured world, focusing on securing fuel, weapons, and payments.
Gold prices are soaring domestically and internationally, driven by a weakening rupee and anticipation of US monetary easing. Local rates jumped significantly as the rupee hit an all-time low. Globally, gold and silver futures firmed up, with investors betting on a US Federal Reserve interest rate cut next week, boosting confidence in the precious metal.
Nomura forecasts a potential 13% upside for the Nifty in 2026, projecting it to reach 29,300. This optimism stems from improving domestic and global conditions, including calmer geopolitics and stable macros. The brokerage also identified its top stock picks, anticipating a cyclical recovery in economic and corporate earnings growth.
