Opening Recap
Market Pulse: Broad indices drifted into the red as seven of the top-10 most-valued firms shed ₹35,439 crore in value, with SBI standing out as the biggest laggard. Liquidity ticked down from large caps into smaller names on growing rate-cut chatter.
Key Movers: State Bank of India led the decline, while Reliance Industries and TCS managed to hold ground. Zepto also grabbed headlines by confidentially filing IPO documents with SEBI, underscoring bullish e-commerce sentiment despite margin pressure.
Macro & Politics: At the eastern border, Mechi Customs began using an Online Valuation Software to standardize import pricing, aiming for faster clearances. And in New Delhi, the government unveiled a ₹44,700 crore package to boost shipbuilding.
What's Next: Eyes are on tomorrow’s policy updates and the Fed-watch narrative—keep an eye on midcap earnings for fresh direction.
Unfiltered Market Commentary
Everyone’s fixated on the ₹35,439 crore valuation drop across mega caps (see “Mcap of 7 of top-10 most valued firms declines by Rs 35,439 cr; SBI biggest laggard”, The Times of India), but they’re missing the customs overhaul in Kakarbhitta. Mechi Customs’ new Online Valuation Software (Khabarhub.com) could be the silent trigger that turbocharges logistics names once clearance times shrink. That’s a catalyst few are pricing in.
Look at Zepto’s confidential IPO filing with SEBI (BusinessLine) and the battery swapping wave sweeping heavy trucks (Livemint). On the surface they’re worlds apart, but both underscore a shift toward asset-light models and platform economics. If you tie those threads together, you’ve got a playbook for picking the next generation of network businesses.
If your portfolio isn’t tilted toward mid- and small-caps with logistics leverage or platform synergies, you’re behind the curve. Lean into yard contractors, port operators and service-based electric infrastructure before this crowd thinks to chase them. That’s where you’ll find outsized returns.
📈 Breaking Financial News
Mcap of 7 of top-10 most valued firms declines by Rs 35,439 cr; SBI biggest laggard
The combined market valuation of seven of the top-10 most valued firms declined by Rs 35,439.36 crore in a holiday-shortened last week, with State Bank of India taking the biggest hit, in line with a muted trend in equities.
Mcap of 7 of top-10 most valued firms declines by ₹35,439 crore; SBI biggest laggard
From the top-10 pack, Reliance Industries, TCS, ICICI Bank, SBI, Bajaj Finance, Larsen & Toubro and LIC faced erosion from their valuation, while HDFC Bank, Bharti Airtel and Infosys were the winners.
Looking to invest in smallcaps in 2026? 5 big predictions by 5 experts
After a steep underperformance in 2025, India’s smallcap stocks enter 2026 amid divided expert views. While some see improving earnings and selective opportunities, others warn valuations and ownership risks remain. Most strategists agree largecaps offer better alternatives.
Mechi Customs Office implements ‘Online Valuation Software’
JHAPA: The Mechi Customs Office at Kakarbhitta, the eastern border point, has begun trial implementation of the ‘Online Valuation Software’ system. Under the new system, the actual customs valuation of commercial goods will be determined on the basis of transaction benchmarks to reduce disputes and clearance delays.
Zepto files confidential IPO papers with SEBI; eyes ₹11,000 crore via issue
The company is targeting a stock market listing sometime next year, a move that could make it one of the youngest startups to debut on Indian exchanges.
The Liquidity Engine Powering Crypto's Comeback
Institutional capital is flooding in while most investors remain completely unaware – creating what could be the buying opportunity of a lifetime. Exposed: Crypto's liquidity backbone set for massive gains – get all details for just $3!
🔍 Market Analysis & Insights
Ratan Tata Birthday Special: From Ola to Lenskart and FirstCry, a Look at Visionary Industrialist's Investments That Turned Into Unicorns
Late Ratan Tata, chairman emeritus of Tata Sons, continues to significantly influence and fuel India's startup ecosystem through his strategic investments and invaluable mentorship. On his birthday today, we take a look at some of his investments in companies that became unicorns.
2026 Economic and Market Predictions
Before we get to my economic and stock market predictions for 2026, I invite you to check out last week’s report column to see how I did in my 2025 predictions. As usual, I’m going to offer a general disclaimer: This isn’t meant to be direct investment advice.
Go big or go home: Battery swapping is coming to electric trucks
Battery swapping is expanding into India's heavy-duty freight sector, offering a speedy alternative to traditional charging and lower upfront vehicle costs. It aims to make zero-emission trucking commercially viable by treating energy as a flexible service rather than an asset.
Flexi cap funds are back in favour. But do they really offer the best diversification?
Flexi-cap funds may offer diversification without forcing exposure to expensive market segments. But these are not the only ones that promise diversification across market caps.
My Mother-in-Law Wanted to Visit a Data Center. This Holiday, “Are we in an AI bubble?” Went Mainstream.
Most Silicon Valley folks expect some degree of ‘tech talk’ when returning home for the holidays. Sometimes it’s in the form of IT support. Or nephews excited about the latest degen trends. The Uncle who is very excited to share he cut the cord on cable this year.
Dow Drops 540 Points, Oil Soars
Middle East conflict sends markets plunging, oil prices surge. Investors flee to gold, but Marc's found a better crisis hedge – monthly income from oil, not stocks. Full details to learn more here.
💰 Investment Opportunities
Borussia Dortmund & Arsenal Amid Clubs Interested In Serbia Starlet Yet Inter Milan Retain Key Clause
Inter Milan continue to monitor Aleksandar Stankovic closely as Borussia Dortmund and Arsenal emerge among the clubs showing interest, with the Nerazzurri retaining decisive contractual control over the player.
Report: Fenerbahce join race for Inter midfielder Frattesi
Davide Frattesi’s future at Inter is once again under the spotlight as the January transfer window approaches, with interest now emerging from Turkey.
Nvidia Just Paid $20B for a Company That Missed Its Revenue Target by 75%
Panic buying, plain and simple. If anything indicates that this AI bubble is about to pop, it’s this.
Govt rolls out Rs 44,700 crore shipbuilding push to boost domestic maritime industry
The Centre has unveiled operational guidelines for the Shipbuilding Financial Assistance Scheme (SBFAS) and the Shipbuilding Development Scheme (SbDS), valid until March 2036 with a possible extension to 2047.
ICICI Prudential midcap, Kotak Multicap, DSP Smallcap, Mirae Asset Flexicap, Helios Large and Midcap et al: Your guide to best performing funds of 2025
Returns swing from –20% to 178% in 2025; active alpha erodes, silver steals the spotlight… We evaluate equity, debt, hybrid, commodity and international funds through the lens of returns, flows and portfolio trends in 2025.
$100 Oil Coming?
CNN/WSJ: Oil prices exploded 6-8% on Iran crisis. Analysts warn $100/barrel if Strait of Hormuz disrupted. While oil stocks swing wildly, there's a steadier way to profit. Marc shows you how.
