(Bloomberg) — Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at:
Good morning, this is Ashutosh Joshi, an equities reporter in Mumbai. Asian stocks and Nifty futures are pointing to a muted start for India after this week’s global rally lost momentum amid the US Thanksgiving holiday. Local shares closed just shy of their previous all-time highs on Thursday, though risk appetite remains supported by optimism around potential US and domestic interest-rate cuts next month. Traders are now focused on the September-quarter GDP print due later today and the Reserve Bank of India’s rate decision on Dec. 5.
More power to e-commerce giants
With only 7% of retail trade online, India may be nearing an e-commerce boom like China and the US saw a decade ago, according to global consultancy Redseer. That sets the South Asian nation’s online players up for a multi-year surge, says Karan Taurani, an analyst with Elara Capital. Unsurprisingly, consensus estimates point to a return potential of more than 25% each for Swiggy and Eternal.
Early signs of private capex pickup
Rising consumption via online platforms augurs well for the real economy too. Private firms accounted for nearly 90% of new investment announcements in the first half of FY26, according to estimates from Nirmal Bang. If even a chunk of these projects are completed, construction materials and metal stocks could get a lift — and banks stand to benefit from higher working-capital borrowing and project financing. For equity investors seeking catalysts beyond government spending, private capex is emerging as a fresh driver of growth.
Financials bask in M&A glory
Optimism is also being seen in the heavyweight financial sector. It has this year emerged as one of the top recipients of foreign capital, with $10 billion of strategic investments in the works — a trend that could potentially lead to large mergers and acquisitions in this space, according to Jefferies. Recent deals have seen investors from Emirates NBD to Sumitomo Mitsui Financial Group take stakes in Indian lenders. Offering further upside is India’s planned divestment of IDBI Bank and a proposal to allow foreigners own larger stakes in state-run lenders. Such strategic moves would not only strengthen brands and fund expansions but also improve return-on-asset ratio for the sector, Jefferies noted.
Analysts actions:
Three great reads from Bloomberg:
And, finally..
India’s fear gauge is set for its biggest weekly decline since May as stocks climb to within a whisker of a record close. The move also reflects the rebound in global sentiment after the volatility sparked last week by fears of an AI bubble. Some of those concerns have been put to rest, at least for now, with world stocks gaining this week on expectations of further Fed cuts. With retail investors turning sellers on a net basis this month, their actions will be closely watched in December given that they have been a crucial support for the market this year.
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–With assistance from Alex Gabriel Simon.
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