European shares rebounded on Thursday, lifted by higher prices of oil and precious metals, shaking off the gloom from weaker luxury earnings the day before.
Swiss engineering group ABB reported fourth-quarter earnings exceeding forecasts and announced a new $2 billion share buyback, expressing confidence for 2026. The company is benefiting from the AI boom, strong demand in rail and marine sectors, and achieved record full-year orders and revenue. ABB aims for further growth and margin improvement by 2026.
Investor sentiment remains cautious ahead of the Union Budget, with FII outflows a key concern. Market expert Neeraj Dewan suggests selective buying in infrastructure, capital goods, and PSU banks, noting attractive valuations. He remains constructive on power T&D and sees opportunities in power generation, while advising caution on NBFCs and recommending long-term accumulation in real estate.
Canara Bank Q3 Results: Canara Bank posted a strong operational performance in the quarter, with operating profit rising 16% year-on-year to Rs 9,119 crore. Business growth remained healthy, as global business, deposits and advances each grew 13%. Credit expansion was driven by retail, agriculture and MSME segments, with retail loans up 31%.
Indian markets are waiting for a boost as recent earnings met expectations but did not attract foreign investors. The upcoming March quarter earnings will be crucial for growth trends. The Union Budget and global trade talks are also key factors. Midcap stocks are showing improved risk-reward. Sectors like pharma, chemicals, and export-oriented companies are poised for growth.
The Economic Survey 2025–26 says the rupee is undervalued and “punching below its weight” despite India’s strong growth, controlled inflation and solid balance sheets. While the currency hit a record low near Rs 92 per dollar amid foreign outflows and global uncertainty.
Microsoft shares slid over 6% in Frankfurt after record AI spending and slower-than-expected cloud growth rattled investors.
Gold prices skyrocketed 9% on MCX after global investors rushed to safe-haven assets amid falling trust in paper currencies, Fed independence concerns, geopolitical tensions, and a weakening dollar. Silver also rallied, but gold outshone due to stronger safe-haven demand, central bank buying, and shifting market preference toward hard assets.
The company’s order backlog stood at Rs 730.2 billion as of December 2025, up 3% year-on-year. The company said that this implies an order inflow of Rs 56.8 billion during 3QFY26, which was broadly in line with estimates.
Indian government bonds experienced a downturn as the rupee hit a new low, raising concerns that central bank liquidity injections might be negated by efforts to stabilize the currency. Despite supportive domestic growth, weak foreign inflows and increased hedging demand pressured the rupee. Traders are also wary of record government borrowing plans.
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