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(Bloomberg) — Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at:
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- Earnings recovery
- MSCI inclusions
- Happy founders
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Good morning, this is Ashutosh Joshi an equities reporter in Mumbai. Local stocks are set for a choppy session following President Donald Trump‘s threats to increase tariffs on India. That’s said, traders aren’t seriously pricing in much impact, for now, with Nifty futures holding steady in early trade amid gains in the broader Asian markets. Key earnings today include Bharti Airtel, Adani Ports and Britannia Industries.
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Earnings recovery hope pushed to September quarter
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A long-awaited recovery in corporate earnings still hasn’t arrived. As the first-quarter results season draws to a close, both Jefferies and Motilal Oswal have pointed to more profit downgrades for fiscal year 2026. Still, Indian equities have held up well in the face of four straight quarters of middling performance. Not all are pessimistic. Morgan Stanley expects a turnaround soon, and legendary emerging-market investor Mark Mobius is also upbeat, calling the Trump-era tariffs “short-lived.”
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Consumer and energy stocks could join MSCI index
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Despite broader uncertainty, there’s good news for investors in select stocks. According to Nuvama Alternative and Quantitative Research, companies like Vishal Mega Mart, Swiggy, Hitachi Energy India, and Waaree Energies are likely candidates for inclusion in the MSCI Standard Index, which is due for a reshuffle. Their likely addition signals rising global investor interest in India’s consumer, digital, industrial, and green energy sectors. If the changes go through, the brokerages expect passive flows of up to $270 million.
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Founders emerge as winners in India’s deal boom
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Meanwhile, company founders are making the most of a boom in India’s equity capital markets, paring their stakes via on-market deals. Promoter ownership in listed Indian firms fell to an eight-year low of 40.58% in June, according to Prime Database. The reasons vary — from profit taking, to more strategic reasons like debt reduction, legacy planning, and philanthropy. Whatever the motivation, founders are reveling in the moment.
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Analysts actions:
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- MCX Cut to Reduce at Avendus Spark; PT 7,900 rupees
- ABB India Cut to Add at Axis Capital Limited; PT 5,536 rupees
- Ajax Engineering Rated New Buy at Asian Markets; PT 861 rupees
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Three great reads from Bloomberg today:
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- Trump Vows to Ramp Up India Tariffs, Escalating Spat Over Russia
- Wall Street Is Warning Investors to Get Ready for Stocks to Drop
- Big Take: Russia’s Secret War and the Plot to Kill a German CEO
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And, finally..
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In a market weighed down by global trade worries, India’s cigarette and detergent makers are emerging as investor favorites. While the NSE Nifty FMCG Index gained 1.7% in July, the Nifty 50 fell 2.9%. Analysts cite easing rates, the lowest inflation in six years, and resilient domestic demand as key drivers. As global trade risks grow, consumer stocks offer a compelling mix of safety and growth for investors investing in India.
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—With assistance from Kartik Goyal, Chiranjivi Chakraborty and Savio Shetty.
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English (US)