On Thursday, Indian stock markets began the day on a sour note, with both the Sensex and Nifty taking a dip in response to international market cues. The backdrop of a predicted interest rate reduction by the U.S. Federal Reserve, which hinted that this could be the final cut until 2025, understandably rattled investors. Furthermore, the ongoing U.S.

Axis Mutual Fund sees an end to India s earnings estimate downgrades. Ashish Gupta, Chief Investment Officer, anticipates catalysts to boost earnings across key sectors. Loan growth and potential tax cuts could benefit banks, consumption, and automobiles. While valuations are high, earnings growth for the next financial year is projected to be robust and broad-based.

While Nifty and Sensex near record highs, the broader market lags, with smallcaps still 6% from their peak. This rally is driven by select largecaps, particularly banks, while IT stocks struggle. Experts believe earnings derating is largely over, with small and mid-caps poised for faster growth, offering opportunities for patient investors.

Gold prices retreated on Thursday after the U.S. Federal Reserve signaled caution on further rate cuts in 2025. MCX December gold futures dropped Rs 1,671 to Rs 1,18,995 per 10 grams, while silver fell 1% to Rs 1,44,637/kg. Fed Chair Powell’s hawkish tone and the upcoming U.S.–China trade talks kept traders braced for continued volatility.

Titan, a retail giant, once aimed to lead India s eyewear market but its division now lags significantly behind Lenskart. Lenskart s tech-driven, omnichannel approach has made it a dominant player, highlighting Titan s traditional retail model s limitations. The upcoming Lenskart IPO may force a re-evaluation of Titan s eyewear business.

Alphabet, Microsoft, and Meta posted mixed Q3 earnings, highlighting AI’s dominance in Big Tech’s strategy. While revenues surged, soaring capital expenditure and one-time charges triggered varied market reactions.

Indian IT stocks dipped on Thursday after the US Federal Reserve signaled that a December rate cut was not guaranteed. While the Fed delivered a 25 basis point cut on Wednesday, Chair Powell s cautious tone tempered market expectations. Cognizant s raised revenue guidance provided some support, though its net profit fell due to a tax outgo.

Nomura now anticipates the Federal Reserve will hold interest rates steady in December, reversing its prior expectation of a cut. This shift follows the Fed s recent quarter-point reduction aimed at supporting the job market. Nomura foresees three 25-basis point cuts in 2026, citing data that is unlikely to trigger renewed concerns about labor market deterioration.

Sundaram Mutual Fund CEO Sunil Subramaniam believes SEBI s proposed reduction in mutual fund costs and brokerage charges will ultimately benefit the industry and investors. He suggests the market s negative reaction is a short-term overreaction, presenting buying opportunities for quality brokers and AMCs, as the long-term impact is expected to be expansion and growth.

Microsoft’s record AI spending has unsettled investors despite strong profit and cloud growth. Analysts flag cost concerns as Azure expands rapidly and Microsoft deepens its partnership with OpenAI to sustain long-term growth.