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Indian equities showed resilience, with the Nifty nearing 26,100 despite global weakness. While headline indices hit all-time highs, broader market sentiment remains cautious. Experts advise a defensive approach, reducing leverage, and focusing on capital protection amidst divergent market signals.

The Indian real estate sector is at an inflection point with low debt and potential peak, while sales velocity is key for company valuations. Chemicals and banking sectors showed strong Q2 earnings, with auto results meeting expectations. Growth in two-wheelers is positive, but direct auto exposure is avoided due to valuations and EV transition concerns.

The STOXX is on track for weekly losses of nearly 3%, its biggest weekly drop since the unveiling of U.S. tariffs sent global markets into a tailspin between late March and early April. Among individual stocks, French water and waste management group Veolia VIE.PA lost 1% after agreeing to buy U.S.-based hazardous waste company Clean Earth from Enviri for $3 billion.

The Indian rupee hit a new lifetime low against the dollar on Friday, weakening to 89.45. This decline was driven by reduced risk appetite due to fading hopes of a Federal Reserve rate cut and ongoing U.S.-India trade tensions. Foreign investors have also pulled $16.5 billion from Indian equities this year.

Indian equity markets are seeing a strong rotation into largecaps as investors seek safety, value and steady earnings. MOFSL’s Rahul Shah expects further upside in Reliance, banks, telecom and metals, supported by attractive valuations and improving fundamentals. Large IT names are also back in favour as demand stabilises. Here’s what’s driving the rally and sectors to watch.

Bajaj Finserv Asset Management introduces a new fund focused on the banking and financial services sector. This fund aims to benefit from India s economic growth and key structural trends. Investors have a window to participate in this sector, which is expected to deliver multi-year compounding.

Indian equity markets show resilience despite global trends, with strategist Aman Chowhan highlighting US market influence as the primary external risk. Chowhan favors financials, metals, and pharma, while adopting a value-conscious approach to consumer stocks. He prefers private banks and larger NBFCs, acknowledging froth in defense and new-age companies.

Market strategist Matt Orton observes global risk-off sentiment impacting Japan, with potential for opportunities once stability returns. He favors gold as a portfolio balance and sees Bitcoin nearing capitulation. India remains a strong diversifier, while US rate hikes are likely paused, with cuts potentially resuming in 2025.

Tokyo s Nikkei index plummeted Friday, mirroring Wall Street s tech stock decline amid AI valuation worries after Nvidia s results. Japanese investors also eyed a looming holiday and government stimulus, sparking fiscal concerns. The yen weakened, and bond yields neared highs. Advantest and SoftBank Group saw significant drops, while M3 and Obayashi gained.