Скачать или смотреть ⁠Why Indian Markets Are Rising Despite Flat Yearly Returns | Govindraj Ethiraj | The Core Report

On Episode 680 of The Core Report, financial journalist Govindraj Ethiraj talks to Karan Taurani, Executive Vice President (Media, Retail, Consumer Discretionary & Internet) at Elara Capital.
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SHOW NOTES
(00:00) Stories of the Day
(01:00) Markets rise again on tariff talks
(02:22) How it’s been a year and the markets have not gone anywhere
(05:02) Where are GST savings in households really likely to go?
(14:45) Rolls Royce expands in India, sets up largest GCC in India
(15:36) Chip wars break out again, with China at the centre
(16:53) Where US customers can learn from India

Stable Markets:

Markets have been stable with fewer swings. Positive US–India trade talks in New Delhi boosted sentiment. President Trump and PM Modi also spoke, with markets anticipating a US Fed rate cut. Nifty 50 closed at 25,330 (+91), Sensex at 82,693 (+313), near 2-month highs. Nifty has risen 10 of the last 11 sessions, just 3.6% below its lifetime high of 26,277.

Kotak Institutional Equities notes $90B domestic inflows, retail euphoria, and fiscal/monetary support didn’t lift indices in the last 12 months—Nifty & Sensex gave 0% returns. Small & mid-caps are below Sept 2024 peaks. Expensive valuations and earnings downgrades kept markets flat. Kotak expects gradual earnings recovery, stronger growth FY27.

Rupee strengthened to 87.81 (best one-day gain since Aug 19) vs record low 88.45 last week. Gold eased to $3,668/oz after hitting $3,702.

Where Are GST Savings Going?

GST rate cuts next week expected to save consumers ₹48,000 crore, acting as fiscal stimulus. Elara Securities’ Karan Taurani projects ₹96,000 crore incremental demand (2X multiplier), led by discretionary spending—fashion, food services, QSR chains, lifestyle, electronics. Necessities may see premiumization. Lower input costs to boost QSR chains & online delivery.

Rolls-Royce Expands:

Rolls-Royce opened a 700-seat Global Capability Centre in India, its largest facility, employing 2,000+ engineers. Partners include Collins Aerospace, Boeing, Airbus, Wipro, Mahindra. Focus: propulsion, power systems, structural components, advanced tech.

Chips In Focus:

China’s internet watchdog told Alibaba, ByteDance to halt NVIDIA RTX Pro 6000D orders. Alibaba shares rose after securing China Unicom as AI chip customer via PingTog (T-Head) unit. Alibaba Cloud offers computing based on these chips. Hong Kong and US-listed Alibaba stock climbed over 2%.

Duty-Full Shopping:

US shoppers now face tariffs on all e-commerce imports. Earlier, goods under $800 were duty-free. Now, surprise customs bills and delays mirror India’s import experience. FedEx/UPS report higher customs clearances, brokerage fees. WSJ cites examples: $77 shirt with $42 extra FedEx bill; $640 shipment hit with $1,196 tariffs. Packages under $800/day fell from 4M to 1M.

Navi Mumbai Airport:

Navi Mumbai International Airport to launch Sept 30. Air India Express to start with 20 daily departures to 15 cities, scaling to 90 by mid-2026 (including international), and 140 by mid-2027. Connectivity challenges remain—2-hour drive from Mumbai city with poor road links.

Indian markets are rising despite flat yearly returns but what does it mean for investors businesses and consumers Watch Govindraj Ethiraj on The Core Report with insights on Nifty Sensex GST savings retail trends global trade chip wars and Navi Mumbai Airport to understand where the economy is headed.

#IndianMarkets #Sensex #StockMarketNews #InvestingIndia #TheCoreReport #TheCore

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