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Donald Trump's tariff policy faces a legal challenge that could impact US finances. Court decision may lead to large refunds. Treasury Secretary Scott Bessent remains confident of a favourable ruling. Economists highlight the importance of tariff revenue in managing the budget deficit. Businesses express concerns over fluctuating duties.
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The latest development builds on the PBOCs initiative to simplify procedures for cross-border trade in gold by reducing paperwork and speeding up imports.
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Indian markets ended the week strongly, driven by GST cuts, hopes of US tariff concessions, and earnings recovery. Ajay Bagga highlights global liquidity, Fed rate cut expectations, AI-led IT revival, and defence sectors multi-decade growth potential despite valuation concerns.
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Despite Rs 10,782 crore worth of FII selling in September, Nifty has held firm for eight straight sessions. Analysts say improving macro signals, policy reforms, and potential Fed rate cuts could turn FIIs into buyers again and fuel fresh upside in equities.
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Indian equities are poised for a potential upswing, with Nifty targeting 25,300 and Bank Nifty aiming for 55,200, according to Axis Securities. Derivative data suggests a shifting base and increased upside potential. Midcap IT stocks, Hindustan Zinc, and National Aluminium are also expected to perform well. Samvardhana Motherson and Bajaj Finserv are top trading picks.
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