Gold and silver prices have seen a sharp pullback, leaving investors wondering whether the worst is over or more pain lies ahead. A stronger US dollar, easing geopolitical tensions, and expectations of further Fed action have triggered heavy selling across precious metals. However, Ajay Kedia, MD & Director, Kedia Advisory, believes the correction has made silver far more attractive from a valuation perspective. While near-term volatility could continue, Kedia says the steep fall in silver prices may be creating a rare long-term opportunity. The big question now: Is this a temporary dip or the perfect time to accumulate silver?
At Business Today Television’s “What’s Hot,” Sakshi Batra breaks down the day’s market action with guest expert CA Tapan Doshi, Research Analyst, as Nifty and Sensex hold gains after a sharp rebound. The discussion tracks banks, IT, autos, and the big relief from falling Brent crude below $73, while also decoding what lower oil means for inflation, the rupee, OMCs, and upstream energy stocks. The show also examines the RBI’s new upper-layer NBFC norms, the Tata Sons regulatory spotlight, and the IRFC OFS for retail investors. Tapan Doshi shares sector picks across cement, tyres, aviation, metals, and autos, with a close look at monsoon risks, capex momentum, and market sentiment.
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After a spectacular two-year rally, gold and silver are witnessing their sharpest correction in years. Gold is headed for its worst quarterly performance in nearly a decade, while silver is set for its biggest drop in four years. What's driving the sell-off? From a surging US dollar and rising bond yields to shifting Fed rate expectations, we decode the key factors behind the bullion slump and what lies ahead for investors.
As markets witness a strong rebound, technical indicators are highlighting fresh opportunities for investors. Vishnukant Upadhyay, AVP – Research & Advisory, has identified Leela Hotels and Chambal Fertilisers as two stocks with attractive risk-reward potential. Leela Hotels has broken out of a long consolidation phase, while Chambal Fertilisers is showing a bullish inverse head-and-shoulders pattern on the charts. According to Upadhyay, recent corrections in both counters offer a favorable entry point. With strong technical setups in place, these stocks could deliver meaningful upside for traders and investors over the short term.
Metal stocks are witnessing increased pressure as easing geopolitical tensions and softer commodity prices dampen investor sentiment. Companies such as Vedanta, NALCO and Hindalco have come under focus following concerns over aluminum supply and pricing trends. CA Tapan Doshi, Research Analyst, believes the sector could remain volatile in the near term as metal prices continue to cool and the war-risk premium fades. He suggests investors wait for the current correction to settle before making fresh investments. While the long-term outlook remains intact, Doshi says a deeper pullback could offer better entry opportunities in quality metal stocks.
The auto sector is witnessing strong momentum as declining crude oil prices and easing inflation expectations improve the outlook for vehicle demand. Lower fuel costs and a stable interest rate environment could support growth across passenger vehicles, two-wheelers, and commercial vehicles. However, concerns remain over the impact of weaker monsoons on rural demand, especially in tractors and two-wheelers. CA Tapan Doshi, Research Analyst, believes much of this risk is already factored into stock prices, making the sector attractive for investors. Improving sales, stronger exports, and rising EV adoption continue to strengthen the long-term outlook.
The RBI has revamped the framework for identifying Upper Layer NBFCs, setting a ₹1 lakh crore asset threshold and exempting government-owned NBFCs from mandatory listing requirements. The move has reignited the debate around Tata Sons, which remains on the RBI's existing Upper Layer NBFC list. With Tata Sons' deregistration plea still pending and a fresh RBI list expected soon, could the Tata Group holding company eventually face a listing requirement? Nachiket Kelkar explains the new rules, the implications for Tata Sons, and what to watch next.
Noel Tata has signalled the end of his chairmanship at Trent, bringing the curtain down on one of the most remarkable retail transformations in corporate India. When Noel Tata took charge, Trent was a loss-making venture with the Tata Group having little presence in organised retail after the sale of Lakmé. Over the years, he built Westside into a leading fashion brand, expanded Star Bazaar through a partnership with Tesco, and transformed Zudio into one of India's fastest-growing value-fashion chains. Today, Trent has evolved into a profitable retail powerhouse with revenues exceeding ₹25,000 crore and significant value creation for shareholders.
With the BFSI sector witnessing renewed momentum, market experts remain bullish across private banks, public sector banks, and leading NBFCs. Rather than favoring a single segment, the strategy is to maintain diversified exposure across the financial space. Among NBFCs, Bajaj Finance and Shriram Finance stand out as preferred picks. In the PSU banking space, State Bank of India and Bank of Baroda remain top recommendations, while ICICI Bank and Federal Bank are the preferred private sector bets. Analysts believe these stocks are well-positioned to benefit from the next wave of buying in financials.
Despite concerns over monsoon performance, global trade uncertainties, input cost pressures, and a weak rupee, the broader market outlook remains positive. Corporate earnings are expected to remain the biggest driver for equities in FY27, with Nifty earnings projected to grow by 12-13%. Naveen Kulkarni, CIO, Axis Securities PMS, believes improving earnings trends in banking and financial services, along with sustained momentum in the mid-cap and small-cap segments, will support markets. While sectors like IT continue to face macroeconomic challenges, he expects the market to deliver returns broadly in line with earnings growth over the next twelve months
While private sector banks and auto stocks have largely delivered market-like returns, some sectors have significantly outperformed. According to Naveen Kulkarni, CIO, Axis Securities PMS, capital goods, EMS (Electronics Manufacturing Services), healthcare, and CDMO companies have been the biggest contributors to portfolio performance. He also highlighted that having zero exposure to IT proved beneficial amid sector-specific challenges. Kulkarni believes investors are rewarding businesses capable of delivering 20%+ earnings growth, leading to re-rating in select small-cap, mid-cap financials and high-growth industrial themes. These sectors continue to remain key drivers of portfolio outperformance.
Gold and silver continue to remain attractive options for long-term investors despite recent volatility in prices. While extraordinary returns may be difficult from current levels, Market Expert Sudip Bandyopadhyay believes steady gains of 10-15% are achievable over a longer investment horizon. He recommends maintaining 10-15% exposure to precious metals within a diversified portfolio, highlighting their role as a hedge against uncertainty. Following the recent correction, gold appears particularly attractive for investors looking to gradually accumulate positions. Sudip Bandyopadhyay adds that investors with at least a one-year horizon could benefit from the stability, diversification, and wealth-preservation qualities offered by gold and silver.
As markets assess the impact of the West Asia conflict on Q1 earnings, input cost pressures remain the key concern for several sectors. However, Naveen Kulkarni, CIO, Axis Securities PMS, believes the worst of the crisis may already be behind us. While higher crude and gas-related costs could weigh on margins initially, Kulkarni sees FMCG as a potential dark horse. He notes that large FMCG companies can gradually pass on higher costs to consumers while benefiting from reduced competition from smaller, unorganized players. With supply disruptions largely contained, he expects Q1 to reflect the pain, but anticipates stronger earnings momentum returning from Q2 onward.
India's defence sector continues to enjoy strong momentum, driven by massive domestic procurement orders and growing export opportunities. However, Ambareesh Baliga, Market Analyst, cautions that execution remains the key challenge for defence companies despite the overwhelmingly positive sentiment. He points to supply-chain bottlenecks and delays faced by major players such as Hindustan Aeronautics Limited, highlighting the need for dependable sourcing and long-term production visibility. While markets remain optimistic about the sector's future, execution risks and delivery timelines are not yet fully priced in. If supply-chain issues are addressed, the defence sector could remain one of India's strongest long-term growth stories.
India's ambitious Advanced Medium Combat Aircraft (AMCA) program is facing fresh challenges as negotiations for the GE F414 engine reportedly encounter major cost-related hurdles. According to sources, the engine price quoted by GE has risen sharply from an estimated ₹70-80 crore to nearly ₹200 crore per engine, raising concerns over project timelines and budgets. The AMCA, India's indigenous fifth-generation fighter jet program, requires multiple prototypes to be developed in the coming years. With costs escalating, DRDO is reportedly exploring alternative engine partners and collaboration options, a move that could impact the program's development schedule and strategic roadmap.
Software Stocks Led A Revival On The Nifty; Textile Shares Rally
While concerns remain over the broader I.T. sector, Market Expert Sudip Bandyopadhyay believes select companies are positioning themselves well for the AI-driven future. He is particularly positive on Coforge and Persistent, citing their focus on niche services and strategic investments in artificial intelligence capabilities. Sudip Bandyopadhyay notes that companies actively pivoting toward AI-led service delivery could gain a competitive edge in the evolving technology landscape. He also highlights RateGain Technologies as an interesting niche player in the travel technology space. According to him, the success of I.T. firms will largely depend on how quickly they adapt and integrate AI into their business models.
Indian I.T. companies are facing a severe roadblock as the global AI revolution accelerates. In this analytical breakdown, we explore why India's tech giants are lagging behind in the artificial intelligence race, lacking proprietary LLM models and struggling to compete with skyrocketing US and East Asian tech sectors. With global capital fleeing emerging markets to chase high-growth AI stocks in Taiwan, South Korea, and the US, Indian I.T. is projected to suffer a major growth slump over the next two years. While global AI valuations spark bubble debates, their massive annualized growth rates of 200% dwarf the modest 10% to 15% growth projections of traditional Indian I.T. firms. Discover how this massive valuation gap and capital flight are reshaping the future of tech investing, and what it means for your portfolio.
Adani Group stocks have seen a sharp rally, but is there more upside ahead? Market expert Sharad shares his outlook on Adani Enterprises and the broader Adani ecosystem, including the impact of major infrastructure projects, the Navi Mumbai Airport, and the group's massive capex pipeline. While near-term valuations may limit upside, the long-term growth story remains compelling, driven by investments across ports, airports, energy and logistics. Watch this detailed analysis to understand whether Adani Enterprises and other Adani Group stocks still offer value for investors.
The pharma sector is back in focus as healthcare stocks continue to gain momentum. In this conversation, market expert Sharad shares his outlook on the pharma space, key sectoral trends, and the stocks he believes investors should watch closely. From frontline names like Dr. Reddy's and Cipla to emerging opportunities in Biocon and other pharma players, find out where the next growth opportunities may lie and what risks investors should keep in mind. Watch the full discussion for insights on pharma, healthcare, biosimilars, margins, and long-term investment opportunities.
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