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Daily Money Show Ep-1019: Stock Market News Today
Original: Ep-1019 | Daily Money Show | Stock Market News Today
Takeaway
Internal Indian economy fundamentals are improving (capex +101%, rate cuts, tax relief) — slowdown is cyclical, not structural; IT sector is the near-term weak spot.
Summary
- Market wrap: Sensex -72 pts to 74,029; Nifty -27 pts to 22,470; IT stocks dragged Nifty by 90 pts after Morgan Stanley cut target prices across Indian IT.
- Morgan Stanley target cuts: Infosys ₹2,150 → ₹1,740; TCS ₹4,460 → ₹3,950; prefers TCS over Infosys, Tech Mahindra over HCL Tech, Coforge over Mphasis; cites macro shifts and US economy struggle.
- Morgan Stanley report on India economy: slowdown driven by pre-election capex cut + inflation spike; recovery drivers — GST collections improving (govt revenue), FY26 budget plan +101% YoY capex, RBI rate-cut cycle expected to continue with another 25bps in April.
- RBI reduced risk weights on bank loans to NBFCs (reversed an earlier hike), boosting NBFC credit availability and overall financial-system liquidity — should support consumption pickup.
- Budget changes to new tax regime cut middle-class tax burden — leaves more disposable income, expected to revive consumption from next FY.
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Original description
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