- 7 weeks ago
Indian stock markets have been under pressure even as inflation eases, demand improves and the corporate earnings outlook remains healthy. Expert says the disconnect lies not at home, but in sustained foreign investor selling and weak global cues.
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00:00good afternoon and welcome to the market closing show this is our collab show between business
00:19today and india today television it's 3 p.m and we are going to be getting you all the market
00:24closing action right here but first up let's take a look at what's hot in the corporate as well as
00:28the financial space market show cautious trade with the sensex falling over 200 points and the
00:36nifty testing 25800 mark investors still weigh the mixed global signals while also the real estate
00:43and consumer durable sectors face selling pressures the psu banks however see buying interest
00:49rbis heavy intervention helps the rupee make its strong recovery in seven months in fact the
00:58strongest recovery in the last seven months surging 90 pese against the u.s dollar in the first hour of
01:03trade alone the currency rebounded to 90.09 easing volatility and stabilizing market conditions
01:09silver prices hit a fresh all-time high level on the mcx crossing the 2.06 lakh rupees per kilogram mark
01:21and on comics it has reached 66.65 dollars per ounce the weak u.s jobs data boosted hopes for a rate cut
01:29in 2026 while strong industrial demand supported the price search finance minister nirmala sitaraman has
01:40warned that tariffs are being weaponized for global trade making it neither fair nor free she's also
01:46cited that the united states of america duties on india as well as has stressed the need for careful
01:52negotiation and fiscal prudence to protect india's industries global tech giant apple has reached a
02:01two billion dollar mark in iphone exports from india in november remember with the total exports now
02:06hitting 14 billion dollars in fy26 meanwhile reports have also indicated that apple is exploring talks with
02:12indian chip makers for assembling and packaging iphone components boosting make in india efforts
02:18all right let's straight away look at how the markets are trading at this point in time let me
02:32quickly look at how the market straight is shaping up on the nifty you did see throughout the course of
02:36the day we have been panicking and now we are still hovering around 25 819 we did test that level
02:42um you know but we are off the low point of the day but still a lot of choppiness that has gone
02:46throughout the course of the session psu banks oil and gas uh it metals and pharma these are the sectors
02:52that are still hovering higher among the stocks on the nifty you have names like sridam finance at top of the
02:58charts you also have state bank of india from the psu banking space one and a half percent up
03:03hindalco aisha motors coal india sun pharma these are the stocks that are hovering higher as far as the nifty is
03:09concerned on the downside you have max health apollo hospital strength as well as htfc life and spi life
03:15as those stocks that are still declining in trade but let's straight away go across to our guest of
03:20the day so deep and you paddyai the group chairman of indy trade capital is now joining in to share
03:24with us his view on the markets and of course give us an understanding of the outlook going forward
03:29warm welcome to you sudip ji good to have you with us well what do you first uh you know make of this
03:34in extreme cautiousness that's occurring on the markets right now uh we first had a lot of resistance
03:39above the 26 000 mark and now we are feeling the pressure on 25 900 25 800 levels as well why do you
03:47think the sentiment is absolutely nervous at this stage well couple of things are happening one is
03:53sharp rip rupee depreciation had kind of spooked the foreign investors even further uh and you know
03:59apart from the uh equity investors even the bond investors had been selling in the last few days
04:04that had led to a massive impact on indian currency of course rbi did intervene today and some recovery
04:11in the rupee happened but fundamentally indian markets are uh getting hit by fii selling on a
04:18continuous basis and there is no sign of that stopping uh irrespective of whatever positive news flow is
04:25coming from domestic uh markets i think the fii selling is continuing and that is leading to this
04:31kind of a uh kind of sell-off and a negative sentiment in indian markets uh domestic news flow
04:39domestic factors are looking all positive but the relentless selling by fii is leading to this
04:45uh situation in the market as things stand today there are no fresh positive triggers coming from the
04:51global markets the trigger positive positive trigger can come if and when there is a trade deal signed
04:58with us or there is uh you know ukraine russia some peace accord is signed these can be uh you know
05:07can become positive trigger for fii is to start becoming uh you know risk positive and start putting
05:14money into india absolutely so if you then uh you know we are in the last fortnight of the calendar
05:202025 it's banned out as a very difficult year for indian investors despite all that uh pull out from
05:26fpis and fii is at large we have seen that the domestic institutional investors they continue to
05:32pour in money in the indian equity markets they did the heavy lifting either via sips by mutual funds
05:38the average investor has continued to believe in the india story going forward into 2026 will they
05:45finally see the better returns that they will have been waiting for this entire year well i believe so
05:52look what had happened is one year back when we started 2025 the valuation was really at stratospheric
05:59levels and uh you know unfortunately a combination of a lot of factors did lead to indian markets uh
06:08hovering in a range and correcting from there on uh and there was very little scope for uh you know
06:14market to move up when fii's were continuously selling uh domestic investors did pour a lot of money
06:20but fii selling uh ensured that market doesn't uh really uh keep going up as far as 26 is concerned
06:29i think time correction has happened quite a bit corporate results have improved significantly
06:35domestic macro factors have improved significantly you know in terms of interest rates have come down
06:41inflation is down demand is getting uh demand is picking up uh the government has done their bit by
06:48providing a lot of incentives to gst rationalization income tax reliefs etc and we are expecting even
06:55better numbers from corporates in q3 and q4 now with this i think a significant uh you know time
07:02correction for indian stock is getting over valuations have started absolutely we'll just go across to a
07:11breaking news that we are getting at the moment viewers indigo coo has appeared before the
07:16parliamentary panel we are getting to understand that the dgca the pilots body officials are also
07:22appearing before the parliamentary panel parliamentary panel has summoned indigo dgca over the flights
07:28mess that occurred in the first 10 days of december remember the parliamentary standing committee
07:34on transport tourism and culture has already begun in the parliament and indigo coo the dgc
07:40officials and also officials from the federation of pilot association have now been called remember
07:45indigo coo has also reached the parliament at this point in time and we are going to be getting to
07:50hear as to what really will happen after uh the presentation there has taken place remember indigo shares
07:56had lost a lot of ground 17 18 percent of a fall in just about eight sessions in indigo whereas all this
08:03chaos happened over 2000 flights were cancelled by indigo in the first week of december alone and all
08:10of this uh was due to the new flight duty norms that had come into effect thereafter we had also seen
08:16that the government had stepped in provided some relief to indigo by saying that yes we are postponing
08:21uh you know the implementation of these rules for you uh until the new year now but uh you know there
08:26was of course needed that indigo steps up its efforts to sort out all the issues as well but right now you're
08:33given to understand that the stock is hovering about two tenths percent higher let me go across
08:36to sidip again to try and understand what exactly should we understand from indigo and the picture
08:42going forward of course this has been probably the toughest period for indigo in the last 19 years
08:48of successful operations in india uh you know indigo has always been looked at by indian investors
08:54as uh you know a company that has had solid fundamentals repeat profits uh in a very uh difficult
09:01kind of a sector which has also seen many other airlines getting grounded for various kind of
09:05reasons in the past 10 15 years odd but indigo had stayed on its course it was the first time ever
09:11that we saw that indigo has actually not been able to live up to the expectations that of course will
09:17now lead to a lot of margin pressures for the company because the company will be uh giving out
09:22a lot of compensations to all the affected passengers dealing with a lot of penalties now that they have
09:27the management has also appeared before the parliamentary committee and of course some
09:31more details will follow how would you look at the indigo company at this point in time as an investor
09:36and the opportunity there well i will stay away uh that's one word answer uh there are a lot of
09:43challenges uh uh as things stand today uh in front of indigo uh look the situation arose because of a
09:52monopolistic control which indigo had on indian civil aviation uh an operator with 65 plus market share
10:00uh i think is not a very welcome uh uh position from a government and public point of view uh what's
10:07happening in telecom look at the the government is bending backwards to ensure that the third uh
10:13operator which is vodafone idea does survive they don't want a dual holistic situation and they are
10:20going uh and trying to do everything possible to ensure vodafone idea survivor look at civil aviation
10:26we have one operator with 65 percent market share the other with 27 percent i mean this is definitely
10:33a situation which is not a welcome situation and now with this crisis uh you know getting exposing the
10:40problem i think the government will have to do a lot of things to ensure that uh the market share
10:46of indigo does come down to a reasonable level so that it doesn't have this kind of a negative effect
10:52on civil aviation and the country as a whole now this doesn't augur well for indigo market share loss
10:59as well as uh dominance loss doesn't uh uh bode well for a shareholders point of view and evaluation
11:06point of view the valuation indigo was getting was because of the dominance because of the market share
11:12once they lose that and start losing that the valuation and evaluation will never be at similar
11:18levels irrespective of whatever happens so to my mind from an investor point of view it is absolutely an
11:24avoid uh uh as far as uh by buying indigo is concerned clear avoid on indigo for investors
11:32that's the view that sudeebji has shared and right now the stock is also slipping away remember it was
11:36holding up at two tenths percent higher now it's down um you know in fact still up by about three and
11:42a half rupees odd but still about 0.07 percent up 49.77 it slipped from the day's high level after this
11:48news has actually come and you can see that clear uh slip in the last couple of moments as we have
11:53covered the stock but let's find out um you know when it comes to the investment climate where exactly
11:58should you be really looking at so let's not directly talk about stocks in the stock markets
12:02we will take a few minutes off from the direct stock markets and address a big financial issue
12:06staring at the depositors at large across the country in fact we have received several queries
12:12on this as well the question where to invest in times when bank fixed deposit rates are plunging
12:19with returns further slashed by inflation and also income tax remember this year already has seen
12:25about four repo rate cuts by the reserve bank of india that has brought down the repo rate to 5.25
12:30percent from six and a half percent seen in january of 2025 while this has definitely brought down the
12:36lending rates so all those borrowers have had a good year because they have started to get competitive
12:41rates there but it has dragged the fixed deposit rates down as well remember they are now down more than
12:48two and a half uh hitting more than two and a half crore depositors where it hurts the most truly
12:53today we focus on this and other than stock markets gold real estate what are the options
12:58for those who are actually looking for a safety of a fixed deposit but with higher returns we're going
13:03to be focusing on this with another guest who's going to be joining the panel now puja vinde the
13:08certified financial planner at pb investments is now with us puja warm welcome good afternoon to you good
13:14to have you with us and of course sudeep ji is with us constantly uh we will uh first try and
13:19understand from you after four cuts of the rbi we have been consistently seeing that the banks have
13:25been reducing their fixed deposit rates and now they are hovering at record low levels or near record
13:30low levels the one year two year returns on your screens will come in are anywhere between six point
13:35two percent to six point seven percent the lower you go in terms of tenure you will find these returns
13:41even lesser as well so the big question is are the good days of investing in fixed deposits where the
13:47maximum chunk of investors in the country really put their money is it behind us thank you so much
13:54sakshi first of all um as you rightly mentioned in the beginning that you know because of the rate
14:00cut you know there is a good news for the loan buyers loan borrowers but at the same time when you
14:04look at investors i think transition is very important when it comes to you know fixed instruments
14:11wherein you know the investors are still i don't know somehow hooked on to the you know fixed deposits
14:16the bank fixed deposits for that matter i would say wherein uh we all know you know uh the you know
14:22the word that it says that it's fixed and it's as safe it's not really safe we all know that you know
14:28there's a you know insurance of approximately uh around five lakh rupees to any fd attached so uh the
14:35retail investors should understand the risk and at the same time should understand and should evaluate
14:41what other options like as we are speaking right now the interest rates have fallen down so uh i think
14:47one thing uh they should first you know uh come to a conclusion or you know make a financial plan
14:53wherein you know why are you investing in an fd or why have you chosen product like fd so first of all
15:00all it comes to like there is some capital protection mindset to it and secondly uh there is a tenure that
15:05is in mind say for example the tenure is for one to three years and capital protection is something
15:11which is very important but not return year because as we you know talk about returns we have other
15:17options wherein you get better returns than fd but at the same time there is risk and there is tenure
15:22which needs to be you know uh given to those instruments so uh i would say uh you know debt
15:29mutual funds as a category is a very attractive category when it comes to you know fixed income
15:34i would say uh i know the taxation and you know that has been at par now with the you know fixed
15:41deposits but you can say debt mutual funds uh there is no lock-in there is liquidity all the time uh
15:49secondly the the taxation uh that occurs it's deferred when you actually sell that you know debt mutual
15:56fund at that point the tax is levied to you and thirdly there is also a little bit of capital
16:01appreciation there uh and especially when we are talking about this right now uh sakshi because the
16:07interest rates have fallen the debt market actually very attractive right now because very attractive
16:12right to the bond right to the bond prices so the enemies are also shooting up so i would
16:19say somebody who is looking at the time horizon of you know maybe two to three years can look at
16:23options like a short term or a medium term debt fund a corporate debt fund or also there is one
16:29more wonderful category which is income plus arbitrage uh can you also just side by side tell
16:35you know puja for all our viewers who are listening to you as an alternative to fd what are the kind
16:39of returns these um you know avenues provide to them on average two to three year time horizon like
16:44you're advising them too yeah so first of all in terms of return obviously there is no fixed return
16:51that we say as an nfd but the return here we see is more uh in terms of the post tax returns i would
16:58say so for example if there are two products giving seven percent return and if you are in a high tax
17:02bracket specifically when i'm talking about a high tax bracket you know investor so after 30 percent the
17:08seven percent you know the post tax person comes to approximately 4.9 and if you you know opt for
17:15an income plus arbitrage kind of a category wherein if you can wait for two years then your taxation
17:20comes to 12 and a half percent so there around you know six percent so obviously there is one 1.25 percent
17:27of you know alpha there but at the same time you need to understand because uh what is your duration
17:33to that particular you know uh product that is very much important as i mentioned income plus
17:38arbitrage because it's a fund that's a good idea for at least a higher tax bracket people right
17:43so deep let me get you in into that conversation as well do you also believe with the falling fd rates
17:49a large chunk of our investors in india should they gradually shift for better avenues and what would
17:54you advise them in case they're looking for the safety of a fixed deposit and get our risk averse and
17:59may not want to invest in stock markets as yet well i think uh you know you never get safety of fixed
18:07deposit anywhere else uh while debt fund investing is good but interest rate moving up and down can
18:13uh you know kind of shake the balance and if you are investing for a short duration in a debt fund that
18:18can be uh you know give you unfortunately negative returns as well so it's always always better to be
18:25be a little careful but having said that the opportunities are uh many and instead of investing
18:31in a fixed deposit i have been recommending investors to invest in balanced funds now balanced funds invest
18:37in debt as well as equity it's a balance between debt and equity and they have over the last many
18:43years performed commendably well uh so that is one category which i recommend the other category which
18:49i've been recommending investors is multi-asset allocation fund now these funds invest in debt
18:55equity as well as commodities now while i talk commodities it is actually gold and silver so so
19:01you can understand in today's day and age where gold and silver is running away these funds have been
19:06performing exceedingly well so i think both these categories of funds multi-asset allocation fund
19:12as well as balanced funds needs to be looked at from an investor's points of view of course nothing is
19:18zero risk like fd but yes this is worthwhile taking this risk okay puja let me uh ask you to help us
19:26understand where does the small saving really fitted into this cycle there are ppf there is the national
19:33savings certificate there is senior citizen scheme sukanya scheme uh so so many of the small saving schemes
19:39that the government is running as well so how would you compare that with an fd vis-a-vis returns and
19:45vis-a-vis the flexibility and taxation part uh right so sakshi because as you mentioned when we are
19:51talking about a non-equity product and when we're talking about debt you know at large uh obviously
19:57small savings scheme also you know is one of the category but as you mentioned the you know the
20:02instruments like a ppf which has a time horizon of 15 year a long tenure okay so people look at it as a
20:09retirement product or you know as a long-term investment product which i would say uh apart
20:15from your you know equity investments which we also hold for long term i think ppf also should form
20:20a part of your portfolio uh you know there should be some asset allocation in any individual's
20:25portfolio so that role can be played by ppf and the other instrument like senior citizen depends on
20:31if you're a senior citizen but again there the interest is taxable but there's a lock-in of five years
20:36national savings certificate again so uh i would say the interest nowhere is tax exempt apart from ppf
20:44but ppf has a longer time duration so um understanding the needs is very much important secondly as we
20:51spoke about debt funds i understand that returns are not you know made here but at the same time your
20:57capital you know protection and the taxation the post-tax returns are very much important
21:02and thirdly if you want to make a little more return or you know generate more alpha and if you
21:08have a time horizon which can go up to three to five years then i would say the category with sudi
21:13clearly mentioned like a hybrid category or a multi-asset can work sure equity savings fund can you know
21:19actually uh play a good role here because the equity is you know in the range of 10 to 15 percent so
21:25your risk is only that much but at the same time your post tax returns are good yeah okay thanks a lot
21:30puja for sparing your time for us and for advising all our viewers on the debt side as well we also
21:36have one more query coming in so deep j i'm going to be taking that query with you praveen sharma from
21:41delhi says i'm 65 years old and i'm a pensioner with all my investments in actually fixed deposits now with
21:47the fd rates falling what should i do with my investments where should i invest now here is a
21:53you know kind of a situation where we have a person who's 65 years old probably retired and you know
21:59know like he said he's a pensioner so where should he be now investing in in a falling interest rate
22:04scenario we're also contemplating sadibji that there could be one more rate cut probably going forward
22:09so which could actually lead to fixed deposit rates probably at record low levels i completely agree with
22:16you but you know the kind of profile which you are uh talking i think uh you know uh unfortunately uh
22:23recommending any kind of equity related investment is not fair uh but but having said so option uh
22:31remains only fixed deposits so instead of uh you know having fixed deposit in a bank uh i can only
22:39recommend that he can buy fixed deposit with some of the leading uh uh private companies uh so mahindra
22:46finance uh comes out with fixed deposits bajaj finance comes out with fixed deposit these are
22:52credible brands uh and remember the fixed deposit rates for these uh companies are much better than the
23:00typical bank fd rate so my suggestion will be stick to fd for a pensioner with 65 year age stick to fd
23:08but try credible private sector uh fds which will give you better returns if you can take literal
23:18risk again i would uh mention this clearly if you can take little risk put a part of this money in a
23:26multi-asset allocation fund uh and i think that will give you fantastic results okay so here praveen
23:33g although you are 65 and a pensioner uh fixed deposits you can continue but with a private player
23:39if not you can go for a multi-asset allocation strategy and in a fund like that you could probably
23:45earn better returns as well let's now look at the markets closing a minute to go before we shut off for
23:51the day and we'll come back to more questions with sudeep ji as well so um you know when we look at the
23:56nifty it's uh back above the 25 830 odd mark so slightly off the low point of the day that gives
24:02us some kind of a confidence that maybe tomorrow even though we open up with the sensex contracts
24:07expiry tomorrow there could be some attempt to come back the nifty bank also has inched higher from the
24:14day's lowest point after the entire day's choppiness that we have seen 58 951 in front of you that's a
24:20a one-tenth percent lower in trade but definitely off the low look at the it stocks that have led to
24:25some gains two-tenths percent higher for the index as a whole even though we are off the low point of
24:30the day psu banks however outperformed today over a percent kind of gains in this extremely weak and
24:35volatile market you can see the psu banking index that was up in trade uh almost by 1.2 percent
24:43ending the day also with stable returns right from the morning trade it had been holding on to
24:47oil and gas metals from the commodity basket also managed to pull up some returns like i pointed out
24:52initially the top winners on the nifty in today's trading session are sriram finance were almost two
24:59percent of a gain that actually can be seen there you also have spi state bank of india in hindalko
25:04as among those other gainers that formed a part of the top three you also had aisha motors vipro and
25:09coal india is among those gainers but on the flip side on the lower end you had the real estate stocks
25:15you had the healthcare stocks mid and small caps also that declined trend apollo hospitals hero moto
25:20these were the stocks that in fact declined anywhere between one and a half to two two and a half um
25:24you know percent in trade htfc and spi live from the insurance basket also declined coming back to
25:30sudibji with all those questions that all of you viewers have sent us let's take the next question
25:36this one is from prateek he's from magra and he's actually asked you a stock market related question
25:42itself and uh prateek says that i want to invest in defense and shipping sectors uh could you suggest
25:48any top stocks from within this basket that i can invest in for the long term sudibji well if you
25:54want to invest in defense at current uh market i would recommend you buy either larsen and to grow or
26:01bharat forge remember these also have a very uh advanced defense businesses both of them bharat
26:07forge is growing its defense business larsen has already a strong defense business the valuation wise
26:13i won't recommend the public sector defense companies at this stage but buy into larsen
26:18at this stage or bharat forge at this stage you will get it get the benefit of defense as well
26:23okay next one is from puja from mumbai she says uh which stocks should i be buying to capitalize on
26:31the surge in the silver prices i out there i don't have a doubt uh sudibji as to which stock will you
26:37be marking there but definitely please go ahead and help our viewer out there silver prices by way of
26:43proxy investment in markets what would you advise the only stock available which produces silver is
26:48hindustan zinc so if you have to really buy buy hindustan zinc i don't think i will recommend
26:54hindustan zinc i will recommend rather you buy the holding company vedanta because it has got multiple
27:00other levers apart from uh silver uh you know the aluminium prices are at record high levels as well
27:06and we believe that next two years globally aluminium prices will be at elevated levels vedanta derives
27:13roughly 50 of its profit from aluminium and this does over very well of course the benefit of
27:21hindustan zinc silver uh uh will also go to vedanta being a holding company uh there is a de-merger
27:28of businesses happening in vedanta which will lead to value unlocking so you know the smart way to play
27:33this will be through vedanta so buy vedanta okay let's take the last question now this one is from
27:39pragya from delhi she says given the ongoing tariff related uncertainties is it safe to invest in the
27:45it stocks for long term what would you advise there sudeepji obviously it can be good but it's very
27:52difficult to predict the situation as far as large cap it is concerned but some of the mid-cap it we are
27:58positive so if you are really interested in buying it from long term do buy uh coforge do buy rate gain
28:04technologies because they are companies who cater to travel and tourism segment amongst others now you
28:10know globally travel and tourism is booming and the business of companies it companies serving
28:16travel and tourism is also booming so buy rate gain technologies or coforge for long term
28:22okay there you have it you've actually got to know which are the kind of stocks that you should be
28:26looking at so deebji many thanks for being with us as always for guiding all our viewers of india today
28:31and business today television as well as to what should be their strategy with that viewers it's
28:35a wrap on the business today's show and in case you do have any questions about your investments in
28:39mutual funds sips or gold or stocks related questions send them to us on the number that's
28:43flashing on your screens we will be happy to take up all your questions with our top market experts and
28:48don't forget to catch the market opening action tomorrow morning at 9 a.m with abha bagai
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