Market Bizzz

Indian markets experienced a negative week, with Nifty closing lower after failing to sustain early gains. Volatility increased as the index tested crucial support levels. While the medium-term uptrend remains, a corrective phase is evident. Investors are advised a cautious, stock-specific approach, awaiting decisive moves before fresh long positions.

OKX Ventures is backing a new RWA-backed stablecoin, signaling a move towards tokenized private credit. Meanwhile, DeepSnitch AI is gaining significant traction with its Web3-native Bloomberg Terminal, attracting substantial presale investment and whale participation, positioning it as a potential breakout crypto for 2026.

Anupam Rasayan India reported a 12% increase in net profit to Rs 61 crore for Q3 FY26, driven by a 31.35% rise in total revenue to Rs 512.44 crore. The company also announced a significant strategic development with the agreement to acquire US-based Jayhawk Fine Chemicals Corporation, strengthening its global presence and custom synthesis capabilities.

Indian equity markets experienced a significant downturn, with the Nifty and Sensex falling 1.3% and 1.1% respectively for the week. A sharp selloff in IT stocks, triggered by AI disruption fears in the US economy and rapid job losses, led the decline. The IT index saw its steepest weekly losses in 10 months, wiping out substantial market value.

Uday Kotak, founder of Kotak Mahindra Bank, has been appointed as the new chairman of Gujarat International Finance Tec-City Company (GIFT City). He takes over from Hasmukh Adhia, who held the position since June 2023. Kotak’s extensive experience in the financial services sector makes him a significant appointment for the development of GIFT City.

Five companies have received the green light from Sebi for their Initial Public Offerings. Premier Industrial Corporation, Virupaksha Organics, Hexagon Nutrition, Om Power Transmission, and Duroflex can now proceed with their public issues. These companies plan to raise significant capital through fresh share issuances and offers for sale, marking a key step in their growth plans.

Defence giant HAL reported a robust third quarter with net profit surging 30% to Rs. 1,867 crore, alongside a Rs. 35 per share interim dividend. Revenue climbed 11% to Rs. 7,699 crore, with healthy execution across defence programs boosting pre-tax profit. Despite recent stock pressure, five LCA Mk1A fighter jets are ready for delivery.

SpiceJet reported a Rs. 261.38 crore net loss for Q3FY26, a shift from last year’s profit, despite a 14% revenue increase. Elevated costs like fuel and fleet expenses impacted results. However, sequential losses narrowed significantly. The airline is expanding its fleet and seeking a National Stock Exchange listing, with its shares showing oversold technical indicators.

Asian stocks are outperforming US markets as fears of AI-driven business disruption hit American tech firms. Investors are shifting towards Asian chipmakers, crucial hardware suppliers for AI, like Samsung and TSMC. This focus on infrastructure, rather than software pioneers, is boosting regional markets, with memory chip prices also contributing to gains.

Shares of Patanjali Foods drew attention after the company reported robust Q3FY26 results, with profit and revenue rising sharply. FMCG and edible oil segments delivered broad-based growth, margins remained stable, and exports expanded. Management expects a strong FY26 finish, supported by macro tailwinds, easing inflation, resilient rural demand, and nationwide GST-related consumption boosts.