Markets

Jewellery stocks including Titan, Kalyan Jewellers, Sky Gold, and Senco fell up to 12% after PM Narendra Modi urged Indians to cut gold purchases and shift toward domestic financial assets. Investors fear even a modest demand slowdown could dent sector earnings, especially ahead of the key festive season.

The Sensex fell 921 points and the Nifty 50 dropped 275 points in early trade on Monday, driven by Iran-linked war fears and a surge in crude oil prices. India's heavy dependence on oil imports makes it especially vulnerable to Middle East conflicts, raising risks for inflation and corporate margins.

The Indian rupee dropped 139 paise to 94.90 against the dollar in early trade after President Trump rejected Iran's response to a US nuclear peace proposal. The geopolitical flare-up has raised fears of rising oil prices, which directly pressures India's import bill and currency.

Reliance Industries will structure the Jio Platforms IPO as a fully fresh issue, removing the offer-for-sale component after investor disagreements on pricing. All proceeds will go directly to the company for debt repayment and expansion, with no existing shareholders cashing out at listing.

At least 20 newly registered foreign portfolio investors have been unable to open trading accounts in India for about a month after changes to the Common Application Form and PAN application process created a gap that blocks account activation.

A stronger-than-expected corporate earnings season has pushed major stock indices to record highs. Broad profit beats lifted investor confidence, though elevated valuations now leave less room for any future earnings disappointment.

India's state oil companies are losing Rs 1,600, 1,700 crore daily by holding retail fuel prices steady despite high global energy costs, accumulating over Rs 1 lakh crore in under-recoveries in 10 weeks.

State Bank of India lost around Rs 45,000 crore in market cap in a single session, emerging as the top Nifty 50 loser after weak Q4 results. Bharti Airtel, TCS, and Larsen & Toubro also saw valuation declines on the same day.

The Justice Department is investigating at least four oil market trades worth $2.6 billion that were placed shortly before major price moves tied to the U.S.-Iran conflict. The probe centers on whether traders used advance knowledge of war-related developments to profit ahead of public news.

Foreign portfolio investors have withdrawn Rs 14,231 crore from Indian equities so far in May, citing persistent global macroeconomic uncertainty. Sustained outflows at this scale could pressure benchmark indices and the rupee if domestic institutions fail to offset the selling.

The S&P 500 and Nasdaq 100 both hit record highs, driven by strong tech sector earnings and optimism over a potential US-Iran diplomatic deal. Easing Middle East tensions reduced oil supply risk, while solid corporate results boosted confidence in near-term profit growth.

U.S. stocks hit new record highs as a stronger-than-expected jobs report and a chip-stock rally lifted major indexes. Solid labor data eased recession fears while semiconductor strength signaled continued technology investment demand.

The S&P 500 closed at a record high after its sixth straight week of gains, marking a sustained rally in large-cap U.S. equities. Consistent multi-week advances like this often draw additional institutional inflows, though they can also set the stage for profit-taking on any negative surprise.

India's equity market premium over emerging market peers is eroding as rising global oil prices and weaker-than-expected domestic growth hit simultaneously. Higher import costs, rupee pressure, and squeezed margins are prompting investors to question whether India's valuation premium is still justified.

Nvidia has surpassed $40 billion in equity investments this year, targeting companies across the AI infrastructure stack while simultaneously signing chip and service deals with those same companies. The dual role of investor and supplier reinforces Nvidia's hardware dominance but may draw regulatory scrutiny.

FPI ownership of Indian equities has fallen to a 14-year low, with weekly net outflows hitting ₹14,207.20 crore across exchange and primary market routes. The sustained selling streak raises pressure on Indian stock valuations, particularly in sectors with heavy foreign investor presence.

US stocks hit record highs after a strong jobs report outweighed concerns about rising oil prices. Healthy employment data boosted investor confidence in consumer spending and corporate earnings, offsetting fears that higher oil costs could pressure margins and inflation.

FII ownership of Indian equities has dropped to 14.7%, its lowest since June 2012, down from 19.9% in April 2016, per JM Financial. Domestic institutional investors have offset the retreat with an 18.9% rise in ownership, reducing India's market sensitivity to foreign capital swings.

Citi has downgraded Indian equities to Underweight, setting a Nifty target of 27,000 and flagging weak FY27-28 earnings alongside Iran War-related geopolitical risks. The brokerage still favors banks, telecom, defence, and pharma within India.

Michael Burry says today's stock market feels like the final months of the 1999, 2000 dot-com bubble, warning that prices are no longer responding to jobs or consumer sentiment data. The comparison signals broad overvaluation concerns from the investor known for calling the 2008 housing collapse.