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The recent market drawdown may have already factored in some but not all potential earnings cuts, especially in globally exposed sectors such as IT services and energy. In such a scenario, large-cap valuations look more attractive than mid- and small-caps, and also present fewer downside risks.
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UBS has revised down China's GDP growth forecast to 3.4% for 2025, anticipating persistent tariffs with the U.S. and factoring in additional stimulus from Beijing. It has projected a significant drop in Chinese exports to the U.S. and a broader decline in overall exports due to slower global economic growth.
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ICICI Lombard and ICICI Prudential Life are set to announce their Q4 results, with analysts anticipating a 10% YoY APE growth for ICICI Pru Life, reaching Rs 3,312 crore. ICICI Lombard's total income is expected to grow by 5% to Rs 5430 crore, driven by moderate NEP growth.
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U.S. stocks closed higher on Monday, buoyed by Apple's surge after the White House exempted smartphones and computers from new tariffs. Despite the gains, uncertainty surrounding future tariff rates, particularly on semiconductors, tempered overall market optimism. Investors remain concerned about the potential impact of ongoing trade tensions on corporate supply chains and long-term spending plans, leading to choppy trading.
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BlackRock picked up a third of the entire sum and was the largest subscriber to the 3-5 year paper. Farallon Capital Management, Elham Capital-private credit arm of Hillhouse-Sona Asset Management and King Street Capital were others in the consortium, said people in the know.
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