Market Performance - Benchmark stock indices Sensex and Nifty rebounded on November 10, 2025, after three consecutive days of losses, driven by buying in IT and financial shares and a rally in global markets [1][2] - The BSE Sensex increased by 319.07 points, or 0.38%, closing at 83,535.35, with an intraday high of 83,754.49, reflecting a rise of 538.21 points, or 0.64% [1] - The NSE Nifty rose by 82.05 points, or 0.32%, settling at 25,574.35, reaching an intraday high of 25,653.45, which was an increase of 161.15 points, or 0.63% [2] Sector Performance - Among the Sensex firms, notable gainers included Infosys, HCL Technologies, Bajaj Finance, Asian Paints, Tata Motors Passenger Vehicles, Tata Consultancy Services, Bharti Airtel, Titan, Bajaj Finserv, Reliance Industries, and Larsen & Toubro [2] - Conversely, laggards included Trent Ltd, Eternal, Power Grid, UltraTech Cement, Mahindra & Mahindra, Axis Bank, State Bank of India, Adani Ports, Hindustan Unilever, and NTPC [3] Market Sentiment - The potential resolution of the U.S. government shutdown and renewed Foreign Institutional Investor (FII) buying, supported by a favorable Q2 earnings season, contributed to positive market sentiment [4] - Strengthening domestic macroeconomic indicators are expected to lead to upward revisions in earnings estimates for H2FY26, reinforcing current valuations and attracting incremental liquidity [5] Global Market Influence - Asian markets showed positive performance, with South Korea's Kospi up 3.02%, Hong Kong's Hang Seng rising 1.55%, Japan's Nikkei 225 increasing by 1.33%, and Shanghai's Composite Index finishing 0.53% higher [5] - European markets were mostly trading higher, and U.S. markets ended largely higher on November 7, 2025 [6] Institutional Investment - On November 7, 2025, Foreign Institutional Investors (FIIs) purchased equities worth ₹4,581.34 crore, while Domestic Institutional Investors acquired stocks worth ₹6,674.77 crore, indicating strong domestic buying interest [6]

Core Insights - Equity benchmark indices Sensex and Nifty rebounded in early trade on Monday after three sessions of decline, driven by positive trends in Asian markets and buying in blue-chip stocks [1] - Fresh foreign fund inflows contributed to the positive investor sentiment [1] Market Performance - The 30-share BSE Sensex rose by 267.74 points or 0.32% to 83,484.02, while the 50-share NSE Nifty increased by 84.90 points or 0.33% to 25,577.20 in early trade [1] - Among the 30 Sensex firms, notable gainers included Asian Paints, Bharat Electronic Ltd, Larsen & Toubro, Titan, and Reliance Industries, while laggards included Trent Ltd, Power Grid, and Mahindra & Mahindra [2] Asian Market Trends - In Asian markets, South Korea's Kospi surged by 3%, Japan's Nikkei 225 index gained nearly 1%, and Hong Kong's Hang Seng rose by 0.47%, while Shanghai's Composite Index was slightly lower [3] - The US markets ended largely higher on the previous Friday [3] Foreign Investment Activity - Foreign Institutional Investors (FIIs) purchased equities worth ₹4,581.34 crore, while Domestic Institutional Investors acquired stocks worth ₹6,674.77 crore, indicating strong domestic buying [3] Commodity Prices - Brent crude, the global oil benchmark, increased by 0.64% to $64.04 per barrel [4]

Market Performance - The BSE Sensex increased by 368.97 points or 0.44% to close at 84,997.13, with an intraday high of 85,105.83, up by 477.67 points or 0.56% [3] - The NSE Nifty rose by 117.70 points or 0.45% to finish at 26,053.90 [4] Sector Performance - Major gainers in the Sensex included Adani Ports, NTPC, Power Grid, HCL Tech, Tata Steel, Sun Pharma, Trent, and Asian Paints [5] - Lagging stocks included Bharat Electronics, Eternal, Mahindra & Mahindra, and Maruti [5] Global Market Influence - Asian markets showed positive performance, with South Korea's Kospi, Japan's Nikkei 225, and Shanghai's SSE Composite index all closing higher [7] - Optimism regarding potential progress in India-US trade talks contributed to positive market sentiment [7] Investor Sentiment - Anticipation of a 25-basis point rate cut by the US Federal Reserve is influencing global market expectations, with investors keenly observing the Fed's commentary for future guidance [8] - Foreign Institutional Investors (FIIs) purchased equities worth ₹10,339.80 crore on Tuesday [8] Commodity Prices - The global oil benchmark Brent crude increased by 0.23% to $64.55 per barrel [8]

Market Performance - The BSE Sensex increased by 368.97 points or 0.44% to close at 84,997.13, with an intraday high of 85,105.83, reflecting a positive market sentiment driven by global trends and expectations of a U.S. Federal Reserve rate cut [1] - The NSE Nifty rose by 117.70 points or 0.45% to finish at 26,053.90, indicating a similar upward trend in the broader market [1] Sector and Stock Movements - Major gainers in the Sensex included Adani Ports, NTPC, Power Grid, HCL Tech, Tata Steel, Sun Pharma, Trent, and Asian Paints, showcasing strong performance among these companies [2] - Conversely, Bharat Electronics, Eternal, Mahindra & Mahindra, and Maruti were identified as laggards, indicating weaker performance in these stocks [2] Global Market Influence - Asian markets, including South Korea's Kospi, Japan's Nikkei 225, and Shanghai's SSE Composite index, closed higher, contributing to the positive sentiment in the domestic market [2][3] - European markets were mostly trading higher, and U.S. markets also ended positively, further supporting the bullish outlook [2] Investor Sentiment and Foreign Investment - Optimism regarding potential progress in India-U.S. trade talks has positively influenced market sentiment, alongside improved clarity on global trade dynamics [3] - Foreign Institutional Investors (FIIs) purchased equities worth ₹10,339.80 crore on Tuesday, indicating strong foreign interest in the Indian market [4] Key Economic Indicators - The upcoming decision by the U.S. Federal Reserve is anticipated to be a significant event for global markets, with a widely expected 25-basis point rate cut [4] - Global oil prices saw a slight increase, with Brent crude rising by 0.23% to $64.55 per barrel, which may impact related sectors [4]

Market Overview - Benchmark indices Sensex and Nifty rebounded in early trade on October 27, 2025, reflecting a sharp rally in global markets due to a softer-than-expected U.S. inflation report, which has reignited hopes of Fed rate cuts [1] - The 30-share BSE Sensex climbed 272.7 points to 84,484.58, while the 50-share NSE Nifty increased by 88.55 points to 25,883.70 [1] Sector Performance - Major gainers from the Sensex firms included Tata Steel, Bharti Airtel, Reliance Industries, State Bank of India, HDFC Bank, and NTPC [2] - Conversely, Infosys, Bharat Electronics, Kotak Mahindra Bank, and Bajaj Finance were among the laggards [2] Global Market Sentiment - The global market construct is bullish, with indices like Dow Jones, Nikkei, and Kospi reaching record highs, indicating positive sentiment and declining trade tensions [3] - Foreign Institutional Investors (FIIs) purchased equities worth ₹621.51 crore on October 24, 2025 [3] Economic Indicators - A softer-than-expected U.S. inflation report has increased optimism for Fed rate cuts, alongside prospects of a U.S.–China trade deal and potential U.S. tariff cuts on Indian imports to 15–16% [4] - Global oil benchmark Brent crude rose by 0.23% to $66.09 a barrel [4] - On October 24, 2025, the Sensex fell by 344.52 points or 0.41% to settle at 84,211.88, while the Nifty declined by 96.25 points or 0.37% to 25,795.15 [4]

Summary of J.P. Morgan's APAC 2026 Nuclear Outlook Industry Overview - The report focuses on the nuclear power industry, particularly in the Asia-Pacific (APAC) region, which accounts for 69% of global nuclear power plants under construction [1][44]. - The document highlights the growing momentum for reactor builds in APAC and the U.S., alongside advancements in nuclear fusion technology [1][14]. Key Insights Nuclear Power Growth - APAC's share of new nuclear builds has increased from 64% in June 2023 to 71% in September 2024, and 69% in October 2025, primarily driven by China and India [44][47]. - China and India together account for over 50% of the nuclear reactors under construction globally [46]. Technological Advancements - The report emphasizes the convergence of steady reactor growth and transformative technologies, particularly nuclear fusion, which is gaining attention as a potential ultimate energy source [1][14]. - Advances in fusion technology are highlighted, with significant investments from both the U.S. and China, indicating a competitive race for technological leadership [9][23]. Digital Infrastructure and Nuclear Energy - The rise of hyperscale data centers and AI is reshaping energy demand, with tech giants increasingly turning to nuclear energy, especially Small Modular Reactors (SMRs), to meet their energy needs [9][28]. - Hyperscalers have signed over 23GW of new nuclear projects since October 2024, reflecting a strategic alignment between technology and energy sectors [9][28]. Investment Opportunities Recommended Stocks - Key stocks identified for investment include: - **Kepco E&C (052690 KS)** and **Hyundai E&C (HDEC, 000720 KS)** as top picks in the Korean nuclear value chain [9][22]. - **IHI (7013 JP)** for equipment orders and restarts in Japan [9][22]. - **Bannerman Energy (BMN AU)** as a leading uranium miner [9][22]. - **NTPC (NTPC IN)** and **L&T (LT IN)** for exposure to India's nuclear sector [9][22]. Thematic Investment Categories - The report categorizes investment themes within the nuclear sector, including: 1. Global uranium miners 2. APAC nuclear operators 3. Supply chain developments in Japan, Korea, China, and India 4. New investments in nuclear fusion technology in China [18][57]. Regulatory and Political Landscape - Japan aims for nuclear power to supply 20% of its energy by 2040, while India targets 23GW of nuclear capacity by 2031-32 [52]. - In South Korea, political shifts towards renewables introduce risks to nuclear projects, although public sentiment is becoming more favorable towards nuclear energy [52]. Market Dynamics - The uranium market is expected to shift from a surplus in 2025 to a deficit in 2026, benefiting uranium miners [54]. - Regulatory frameworks vary across APAC countries, affecting the profitability of nuclear operators, particularly in China and Korea [55]. Conclusion - The APAC nuclear sector is positioned for significant growth, driven by technological advancements, strategic investments from digital giants, and a commitment to carbon neutrality among key economies [1][14][44]. - The report provides a comprehensive overview of the nuclear landscape, highlighting investment opportunities and potential risks in the evolving energy market.

Market Performance - Benchmark stock indices Sensex and Nifty ended lower due to weak trends in Asian and European markets and fresh foreign fund outflows [1] - The 30-share BSE Sensex declined by 297.07 points or 0.36% to settle at 82,029.98, with an intraday drop of 545.43 points or 0.66% to 81,781.62 [3] - The 50-share NSE Nifty decreased by 81.85 points or 0.32% to 25,145.50 [3] Sector Performance - Major laggards among Sensex stocks included Bajaj Finance, Bharat Electronics, Tata Steel, Tata Consultancy Services, NTPC, Trent, Asian Paints, and Axis Bank [4] - Gainers in the market included Tech Mahindra, ICICI Bank, Power Grid, Hindustan Unilever, and Reliance Industries [6] Market Sentiment - The equity markets experienced broad-based profit-booking amid a lack of fresh domestic triggers, influenced by weak cues from Asian and European peers [6] - Renewed US-China trade tensions have reignited risk aversion, leading to a shift towards safe-haven assets such as gold and US Treasury bonds, while equities faced pressure due to escalating global trade uncertainty [7] Foreign Investment - Foreign Institutional Investors (FIIs) offloaded equities worth ₹240.10 crore on Monday, indicating a trend of foreign fund outflows [8] Global Market Influence - Asian markets, including South Korea's Kospi, Japan's Nikkei 225, Shanghai's SSE Composite Index, and Hong Kong's Hang Seng, ended lower, contributing to the negative sentiment in the Indian markets [7] - Global oil benchmark Brent crude dropped by 1.82% to $62.17 a barrel, reflecting broader market trends [7]

Summary of Key Points from the Conference Call Industry Overview - The focus is on the **data center power demand** driven by AI and non-AI applications, with a projected growth of **175% by 2030** compared to 2023 levels, equivalent to adding a top 10 consuming country [1][6][20]. Core Drivers of Power Demand 1. **Pervasiveness of AI**: The widespread adoption of AI solutions is critical for long-term demand growth and elasticity in response to energy and compute productivity gains [5][20]. 2. **Productivity of Servers**: New-generation AI chips and efficient compute usage are expected to influence aggregate power demand positively [15][20]. 3. **Electricity Prices**: Rising supply costs for both green and non-green power options are not anticipated to constrain demand significantly due to the strong financial positions of hyperscalers [36][39]. 4. **Policy Initiatives**: The sunsetting of the Inflation Reduction Act incentives may impact future sourcing but is not expected to affect near-term power capacity growth [38][39]. 5. **Parts Availability**: Equipment availability will be a key driver for power capacity growth, particularly in renewables and natural gas [12][48]. 6. **People Availability**: The need for skilled labor in infrastructure construction and maintenance poses a risk to meeting power demand growth [58][60]. Investment Opportunities - Attractive investment opportunities are identified across the power supply chain, particularly in utilities and companies involved in data center power demand ecosystems [2][13][14]. Power Demand Growth Projections - The **US power demand growth** is expected to accelerate to **2.6% CAGR through 2030**, with data centers contributing approximately **11%** of total demand by that year, up from **4%** in 2023 [69][70]. - An estimated **82 GW** of new capacity will be required to meet data center demand, with a split of **60%** from natural gas and **40%** from renewables [70][76]. Emissions and Environmental Impact - Data center emissions are projected to double by 2030 compared to 2023 levels, with a significant increase in carbon dioxide emissions expected [55][56]. Labor Market Implications - An estimated **510,000 jobs** will be needed in the US and **250,000 jobs** in Europe to meet the rising power demand by 2030, highlighting a potential labor shortage in skilled positions [58][62]. Conclusion - The data center power demand landscape is evolving rapidly, driven by AI advancements and increasing energy needs. The interplay of technological, economic, and policy factors will shape the future of power sourcing and investment opportunities in this sector.

Core Insights - India's largest corporations are heavily indebted, with significant borrowings fueling their growth and expansion [3][4] Company Debt Overview - HDFC Bank has the highest debt at ₹6.207 trillion [4] - State Bank of India (SBI) follows closely with ₹6.11 trillion [4] - Reliance Industries holds a debt of ₹3.47 lakh crore (₹3.47 trillion) [4] - NTPC's debt stands at ₹2.596 trillion [4] - ICICI Bank has a debt of ₹2.225 trillion [4] - Axis Bank's debt is recorded at ₹2.2 trillion [4] - Bharti Airtel carries a debt of ₹2.105 trillion [4] - ONGC's debt amounts to ₹1.912 trillion [4] - Tata Motors has a debt of ₹770.7 billion [4] - LIC is noted as debt-free, indicating a unique position among these giants [3]

Market Performance - The benchmark indices Sensex and Nifty rebounded in early trade on October 9, 2025, with Sensex rising by 201.23 points to 81,974.89 and Nifty climbing 63.5 points to 25,109.65, driven by buying in blue-chip stocks and foreign fund inflows [1] - Foreign Institutional Investors (FIIs) purchased equities worth ₹81.28 crore on Wednesday, indicating positive sentiment in the market [2] Sector Performance - Major gainers among Sensex firms included Tata Steel, HCL Tech, Sun Pharma, Eternal, Mahindra & Mahindra, Reliance Industries, Larsen & Toubro, Axis Bank, Hindustan Unilever, and Infosys, while laggards included Power Grid, Bajaj Finance, Titan, and NTPC [2] - IT stocks have shown some recovery, although challenges remain for the segment, as noted by VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited [3] Global Market Influence - In Asian markets, Japan's Nikkei 225 index traded higher, while Hong Kong's Hang Seng index was lower, with markets in China and South Korea closed for holidays [3] - The global oil benchmark Brent crude declined by 0.50% to $65.92 a barrel, reflecting broader market trends [4] Technical Analysis - The Nifty's next target is seen at 25,670, with support near 24,901, as stated by Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd [4] - On the previous day, the Sensex declined by 153.09 points or 0.19% to settle at 81,773.66, and the Nifty dropped by 62.15 points or 0.25% to 25,046.15 [4]