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What is the story about?
Global markets remain on edge as geopolitical and legal fault lines widen, with developments from the Americas to the Arctic testing the post-war international order. The Trump administration’s move involving Venezuela’s Nicolas Maduro has sparked unease over the strength of global legal frameworks, even as Europe rallied behind Denmark on Greenland, signalling a sharper NATO focus on Arctic security amid rising geopolitical competition.
Back home, Indian markets navigated a volatile session, with benchmark indices ending lower despite selective strength in financials, metals and pharmaceuticals. The Nifty managed to defend the 26,150 level on weekly expiry, even as heavyweight stocks such as Reliance Industries and HDFC Bank weighed on sentiment. Separately, macro data showed India’s services sector losing momentum, with the PMI slipping to an 11-month low in December as demand and hiring softened.
In corporate developments, Reliance Industries rejected reports of Russian oil cargoes heading to its Jamnagar refinery, calling the claims “blatantly untrue.” Shares of Indian Energy Exchange surged after regulators signalled a possible rethink on market coupling, while the RBI tightened norms on related-party lending to strengthen governance and transparency across financial institutions.
Meanwhile, regulatory scrutiny remained in focus as the Competition Commission of India sought responses from steel companies after its investigation arm flagged prima facie concerns of cartelisation, though no ruling has been passed yet. Global consumer giant Nestlé also initiated a recall of certain infant formula batches in parts of Europe over contamination concerns.
Here’s a closer look at the stories shaping markets, policy and geopolitics today.
Nifty defends 26,150 on weekly expiry despite weakness in Reliance, HDFC Bank
Indian equity benchmarks ended Tuesday’s session in the red, weighed down by losses in Reliance Industries, Trent and select consumption names, even as pockets of strength emerged in financials, metals and pharmaceuticals.
Read More Here
India services PMI slips to 11-month low in December as demand and hiring weaken
India’s services sector growth lost momentum in December, expanding at its slowest pace in nearly a year as fresh demand softened and hiring activity stalled. The HSBC India Services Purchasing Managers’ Index (PMI), compiled by S&P Global, slipped to 58.0 in December from 59.8 in November. The latest reading also came in below the flash estimate of 59.1. A PMI reading above 50 indicates expansion, while a print below that threshold signals contraction.
Read More Here
Trump administration's capture of Maduro raises unease about international legal framework
From the smouldering wreckage of two catastrophic world wars in the last century, nations came together to build an edifice of international rules and laws. The goal was to prevent such sprawling conflicts in the future.
Read More Here
Europe backs Denmark on Greenland, signals stronger NATO push in the Arctic
European leaders on Tuesday issued a joint statement underscoring the strategic importance of Arctic security and reaffirming that Greenland’s future rests solely with its people and the Kingdom of Denmark, amid growing geopolitical competition in the region.
Read More Here
Reliance Industries says not expecting any Russian cargo in January, calls report 'blatantly untrue'
Reliance Industries Ltd. has strongly denied reports suggesting that Russian oil cargoes are headed to its Jamnagar refinery, calling such claims "blatantly untrue" and saying they have tarnished the company's image.
Read More Here
IEX Market Coupling Case — Stock up 9%; CERC lawyer says will take instructions on order withdrawal
Shares of Indian Energy Exchange Ltd. (IEX) gained as much as 13% on Tuesday, January 6, after lawyer representing the Central Electricity Regulatory Commission (CERC) told the Electricity Appellate Tribunal's (APTEL) that they are ready to take instructions from the tribunal to withdraw the July 23, 2025 order, which led to IEX's shares falling nearly 30% in a single trading session.
Read More Here
RBI issues amendment directions on related-party lending, allows non-compliant transactions with conditions
The Reserve Bank of India (RBI) has issued its Amendment Directions on Lending to Related Parties for banks, non-banking financial companies (NBFCs), cooperative banks, and All India Financial Institutions (AIFIs), tightening governance and transparency around transactions involving related parties.
Read More Here
CCI seeks replies from steel firms after cartel probe, no ruling yet: Sources
India’s competition watchdog has not passed any ruling on allegations of cartelisation against steel companies, despite its investigation arm flagging concerns, CNBC-TV18 sources said.
The probe, headed by CCI's director general, has concluded that around 35 steel companies have prima facie indulged in cartelisation. However, the Competition Commission of India (CCI) has not accepted or rejected the findings at this stage.
Read More Here
Nestlé recalls infant formula batches in UK over potential contamination
Nestlé has voluntarily recalled certain batches of its formula for infant and follow-on formula sold in the UK, Ireland and Northern Ireland due to concerns over the potential presence of cereulide, a toxin linked to food poisoning.
Read More Here
We'll see you on Wednesday with another engaging 'Top 10@10’
Back home, Indian markets navigated a volatile session, with benchmark indices ending lower despite selective strength in financials, metals and pharmaceuticals. The Nifty managed to defend the 26,150 level on weekly expiry, even as heavyweight stocks such as Reliance Industries and HDFC Bank weighed on sentiment. Separately, macro data showed India’s services sector losing momentum, with the PMI slipping to an 11-month low in December as demand and hiring softened.
In corporate developments, Reliance Industries rejected reports of Russian oil cargoes heading to its Jamnagar refinery, calling the claims “blatantly untrue.” Shares of Indian Energy Exchange surged after regulators signalled a possible rethink on market coupling, while the RBI tightened norms on related-party lending to strengthen governance and transparency across financial institutions.
Meanwhile, regulatory scrutiny remained in focus as the Competition Commission of India sought responses from steel companies after its investigation arm flagged prima facie concerns of cartelisation, though no ruling has been passed yet. Global consumer giant Nestlé also initiated a recall of certain infant formula batches in parts of Europe over contamination concerns.
Here’s a closer look at the stories shaping markets, policy and geopolitics today.
Nifty defends 26,150 on weekly expiry despite weakness in Reliance, HDFC Bank
Indian equity benchmarks ended Tuesday’s session in the red, weighed down by losses in Reliance Industries, Trent and select consumption names, even as pockets of strength emerged in financials, metals and pharmaceuticals.
Read More Here
India services PMI slips to 11-month low in December as demand and hiring weaken
India’s services sector growth lost momentum in December, expanding at its slowest pace in nearly a year as fresh demand softened and hiring activity stalled. The HSBC India Services Purchasing Managers’ Index (PMI), compiled by S&P Global, slipped to 58.0 in December from 59.8 in November. The latest reading also came in below the flash estimate of 59.1. A PMI reading above 50 indicates expansion, while a print below that threshold signals contraction.
Read More Here
Trump administration's capture of Maduro raises unease about international legal framework
From the smouldering wreckage of two catastrophic world wars in the last century, nations came together to build an edifice of international rules and laws. The goal was to prevent such sprawling conflicts in the future.
Read More Here
Europe backs Denmark on Greenland, signals stronger NATO push in the Arctic
European leaders on Tuesday issued a joint statement underscoring the strategic importance of Arctic security and reaffirming that Greenland’s future rests solely with its people and the Kingdom of Denmark, amid growing geopolitical competition in the region.
Read More Here
Reliance Industries says not expecting any Russian cargo in January, calls report 'blatantly untrue'
Reliance Industries Ltd. has strongly denied reports suggesting that Russian oil cargoes are headed to its Jamnagar refinery, calling such claims "blatantly untrue" and saying they have tarnished the company's image.
Read More Here
IEX Market Coupling Case — Stock up 9%; CERC lawyer says will take instructions on order withdrawal
Shares of Indian Energy Exchange Ltd. (IEX) gained as much as 13% on Tuesday, January 6, after lawyer representing the Central Electricity Regulatory Commission (CERC) told the Electricity Appellate Tribunal's (APTEL) that they are ready to take instructions from the tribunal to withdraw the July 23, 2025 order, which led to IEX's shares falling nearly 30% in a single trading session.
Read More Here
RBI issues amendment directions on related-party lending, allows non-compliant transactions with conditions
The Reserve Bank of India (RBI) has issued its Amendment Directions on Lending to Related Parties for banks, non-banking financial companies (NBFCs), cooperative banks, and All India Financial Institutions (AIFIs), tightening governance and transparency around transactions involving related parties.
Read More Here
CCI seeks replies from steel firms after cartel probe, no ruling yet: Sources
India’s competition watchdog has not passed any ruling on allegations of cartelisation against steel companies, despite its investigation arm flagging concerns, CNBC-TV18 sources said.
The probe, headed by CCI's director general, has concluded that around 35 steel companies have prima facie indulged in cartelisation. However, the Competition Commission of India (CCI) has not accepted or rejected the findings at this stage.
Read More Here
Nestlé recalls infant formula batches in UK over potential contamination
Nestlé has voluntarily recalled certain batches of its formula for infant and follow-on formula sold in the UK, Ireland and Northern Ireland due to concerns over the potential presence of cereulide, a toxin linked to food poisoning.
Read More Here
We'll see you on Wednesday with another engaging 'Top 10@10’
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