Rupee sinks to all-time low; Trump labels fentanyl a ‘weapon of mass destruction’ and more

Today’s edition tracks the rupee’s slide to 90.89 against the US dollar, Trump’s escalation of rhetoric on fentanyl, and Nepal’s move to ease a decade-long ban on carrying high-denomination Indian currency. We also track the Insurance Amendment Bill (Sabka Bima, Sabki Raksha) that is likely to be tabled in the Lok Sabha and its impact on listed insurance universe.

Trump brands fentanyl a ‘weapon of mass destruction’ in drug war escalation

President Donald Trump signed an executive order on Monday declaring

fentanyl a weapon of mass destruction, a move that dramatically expands the US government’s authority to fight the synthetic opioid blamed for tens of thousands of American overdose deaths each ‌year.

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Rupee slides to all-time low for fourth straight session amid dollar demand

The Indian rupee weakened to all-time low for the fourth consecutive session on Tuesday (December 16), pressured by strong dollar demand linked to the maturity of non-deliverable forward (NDF) positions and sustained foreign portfolio investor (FPI) outflows.

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Ukraine says underwater drones hit submarine, but Moscow denies damage

Ukraine said on Monday, December 15, it hit and disabled a Russian missile-carrying submarine docked at a Black Sea naval base using underwater sea drones for the first time, but Moscow denied the strike caused any damage.

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Nepal allows Indian high-value notes after a decade-long ban

Nepal has eased restrictions on carrying high-denomination Indian currency in the Himalayan nation, ending a decade-long ban, according to an official statement. Individuals can hold Indian banknotes of ₹200 and ₹500 up to a maximum limit of ₹25,000 per person. The decision was made during a cabinet meeting on December 15, according to cabinet sources.

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China fatigue could drive global rotation towards India into 2026: Geoffrey Dennis

India is emerging as a logical beneficiary of global market rotation, particularly as investors grow fatigued with China’s weakening economy, even as any pullback from US artificial intelligence (AI) stocks is expected to remain limited, according to Geoffrey Dennis, an independent emerging markets commentator.

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Insurance Amendment Bill in Lok Sabha today — Which stocks benefit and which do not

The Insurance Amendment Bill (Sabka Bima, Sabki Raksha) is likely to be tabled in the Lok Sabha on Tuesday, December 16. Multiple facets of the bill will have implications across the listed insurance universe, and across product categories. The bill, if passed, may pave the way for 100% Foreign Direct Investment in the sector.

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This Tata Group stock will create 'long-term' value, Motilal Oswal projects 31% upside

Shares of Tata Power Company Ltd. will be in focus on Tuesday, December 16, after brokerage firm Motilal Oswal projected an upside potential of as much as 31% from current levels. Motilal Oswal, which has a 'Buy' rating on Tata Power and a price target of ₹500 per share, said it recently attended the company's analyst meet held in Bhubaneswar on December 15.

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Analysts say a luxury eyewear giant could be the next AI winner

Smart glasses look to be the most important growth pillar for EssilorLuxottica in the medium term, Citi analysts said as they reiterated their buy rating. Luxottica is developing smart glasses with Meta that can play music, take photos, and translate, using a neural wristband to interact with the device through hand gestures.

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Meesho shares make new post-listing high, now up 71% in five sessions

Shares of e-commerce player Meesho Ltd. surged as much as 12% on Tuesday, December 16, extending their gains from the issue price. With Tuesday's move, the stock is now up over 70% from its issue price of ₹111.

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Delhi-Agra Expressway accident: 4 killed, several injured as buses catch fire

At least four people dead and several injured in a multi-vehicle collision on the Delhi-Agra Expressway on Tuesday (December 16) morning. Seven buses and three cars collided due to poor visibility because of dense fog. Several buses with passengers onboard caught fire after the collision.

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Goa nightclub fire tragedy: Owners Gaurav and Saurabh Luthra deported to India

Gaurav and Saurabh Luthra, the owners of the nightclub in Goa, where 25 people were killed in a fire, were deported from Thailand on Tuesday (December 16). The two brothers are being brought to Delhi, where they will be presented in the Patiala House court for remand proceedings.

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