Business

Goldman Sachs sees a strong comeback for Indian banking stocks. Improving financial conditions and attractive valuations are expected to boost the sector. Low earnings expectations may lead to positive surprises. Profit growth is forecast to rebound in FY26. The Nifty Bank index is projected to outperform the broader market, offering substantial upside potential.

The Indian economy shows resilience against global headwinds, driven by strong macroeconomic fundamentals like low inflation and robust balance sheets. While urban demand is reviving and rural consumption remains strong, the rupee depreciated in September due to FPI outflows and global uncertainties. Domestic reforms are helping to offset weakening external demand.

India is launching a new digital e-arrival card for foreign travellers from October 1, 2025. This electronic form will replace the old paper card, making airport entry smoother and faster. Travellers can apply online up to 72 hours before their trip. The paper form will be accepted for six months.

Argentina’s central bank formalized a $20 billion currency swap with the United States to bolster economic stability and international reserves. This accord, backed by the Trump administration, arrives before crucial mid-term elections, offering vital support to President Milei amidst rising inflation and economic pressures.

The Indian rupee strengthened by 9 paise to close at 87.93 against the US dollar on Monday, driven by foreign fund inflows and lower crude oil prices. Positive domestic equity market sentiment and hopes for an amicable resolution to US-China trade talks also contributed to the rupee’s gain.

While major Indian indices remained flat, a select group of small and midcap stocks delivered extraordinary returns, with some investors seeing tenfold gains. RRP Semiconductor led the pack with a massive surge, highlighting the potential for significant wealth creation in the current market. Analysts suggest this consolidation phase offers opportunities for long-term investors.

India is rapidly becoming a global leader in services exports. Its services sector is growing faster than goods exports. This growth is driven by key reforms and social initiatives. India is set to become the world’s third-largest economy by 2027. The nation is transforming into a services powerhouse.

EU energy ministers have agreed to phase out remaining Russian gas imports by the end of 2027, a move aimed at ending energy dependence on Moscow. This plan, part of the RepowerEU initiative, will prohibit new Russian gas contracts from 2026, with existing deals ending by 2028.