Market outlook: Banking resilience offsets IT drag; metals, NBFCs in focus, says Nischal Maheshwari

Indian markets open cautiously amid mixed earnings, with banking strength offsetting IT weakness. Market expert Nischal Maheshwari sees improving outlook for banks, near-term momentum in PSU and smaller lenders, continued but cautious optimism on metals, steady real estate demand, and growing opportunities in NBFCs and select infrastructure stocks despite valuation concerns.

Industry Trends

Jio Platforms IPO nears as Ambani’s Reliance awaits final government notification on revised IPO rules

Mukesh Ambani's Reliance Industries Limited (RIL) is moving closer to the long-awaited public listing of Jio Platforms, as the conglomerate waits for a final government notification on revised IPO norms before filing its draft red herring prospectus (DRHP). The regulatory changes are seen as critical for a transaction of this scale and complexity. The proposed Jio Platforms IPO is expected to be the largest ever in Indian capital markets, with estimates suggesting it could raise $4–4.5 billion, or roughly Rs 33,000-37,000 crore. Investment banks have valued Jio Platforms at around $180 billion, nearly Rs 15 lakh crore. At that valuation, selling just 2.5% of the company, the minimum threshold under the SEBI revised framework for companies valued above Rs 5 lakh crore, could raise about $4.5 billion, according to Jefferies estimates from November 2025. The government has already approved a reduction in the minimum IPO float for large companies to 2.5% from the earlier 5%, a move aime...

IMF upgrades outlook for surprisingly resilient world economy to 3.3% growth this year

The global economy is demonstrating unexpected resilience, projected to grow at 3.3% this year, unchanged from 2025, according to the IMF. This strength is partly attributed to a surge in AI investment across North America and Asia, helping to offset trade disruptions. The US economy is forecast to expand by 2.4% this year, an upgrade from previous predictions.