Daily Market Wrap — Monday, 2025-11-17
India drove today’s headlines. IRB Infrastructure jumped after securing a major National Highways Authority project worth about ₹9,270 crore, lifting its project pipeline and expected toll revenue.
Bank shares rallied, pushing the Nifty Bank index to a record above 58,900. Gains in Canara Bank, IDFC First Bank, AU Small Finance Bank, and Kotak Mahindra Bank followed solid results and a confidence boost after the Bihar election outcome.
In the U.S., the Federal Reserve’s October minutes showed a cautious stance. After the first rate cut of the year, officials signalled they are not rushing to cut again in December, given firm growth and stubborn inflation—keeping markets sensitive to incoming data.
From the White House, an adviser noted mixed signals in the job market, complicating the outlook for policy and spending.
Looking ahead, flash PMI readings land for the U.S., U.K., Eurozone, Japan, Australia, and India. These quick business-activity checks will shape views on year‑end growth and could sway currencies, bond yields, and equities.
Our take: India’s infrastructure and banking strength stands out, while the U.S. waits on PMIs and further data. If PMIs hold up and inflation cools, risk appetite can stabilise; weaker PMIs or sticky prices would argue for caution. Keep position sizes sensible and let this week’s releases guide the next step.