Business

Mumbai, Feb 11 (IANS) The Indian equity markets traded flat on Wednesday, breaking a streak of three consecutive gains, as investors traded with caution ahead of the CPI data.

At the closing bell, the Sensex lost 40 points, or 0.05 per cent to settle at 84,233. The Nifty surged 18 points, or 0.07 per cent, to close at 25,953.

The broader markets performed in line with benchmark indices, as Nifty Midcap 100 index added 0.03 per cent, while the NSE Smallcap 100 edged up 0.02 per cent.

Market breadth remained negative, as 2,259 stocks declined against 1,701 stocks that advanced on BSE. Nifty Next 50 surged 0.55 per cent, while Nifty Financial Services added 0.32 per cent.

All sectoral indices traded with gains except Nifty IT and private bank. Nifty IT was the top loser, down 1.76 per cent. Nifty auto surged 1.30 per cent, pharma climbed 1.01 per cent and the PSU bank added 1.03 per cent.

Rupee traded slightly weak at 90.68 per dollar, down by 0.13 paise, as range-bound movement continues amid mixed global cues. Higher crude prices, especially with increased imports from Western markets, could widen the import bill and keep pressure on the currency.

Nifty50 remains range-bound with stock-specific action dominating the tape, unless a clear directional breakout unfolds, market watchers said.

Bank Nifty closed marginally higher near 60,750, maintaining its hold above the 60,500 support base. Overall, Bank Nifty remains range-bound with a positive bias, awaiting confirmation above 60,800 for momentum expansion, analysts said.

The Nifty50 fell 3.10 per cent in January but rose 7.71 per cent over the past year. Nifty 500 remained flat in January and closed the year up 6.94 per cent, while midcap and smallcap indices were negative for the month, down about 3.53 per cent to 5.52 per cent.

--IANS

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New Delhi, Feb 11 (IANS) The India-US trade deal has brought a major business opportunity for domestic plastic exporters, which will help the country increase its share in the US plastics market, according to industry leaders.

Speaking to IANS, Arvind Goenka, Managing Director (MD) of RMG Polymers India Limited, said, "The India-US trade deal will open up a large US market for domestic plastic exporters."

He further said that the US imports plastics annually are worth around $75 billion. Currently, India's plastic exports to the US are about $2.2 billion.

“Therefore, this agreement is a golden opportunity for Indian companies to increase exports. Our plastic exports to the US could double in the next few years,” he mentioned.

He further added that the US is also a major buyer of PVC (polyvinyl chloride). If the US purchases plastic and PVC products from India in large quantities, these goods will be exported to other countries as well. This will give Indian products a new identity in the global market, said Goenka.

According to his, this agreement will not only prove beneficial for the plastic industry but will also help establish India as a strong and reliable supplier.

He further stated that the US economy is worth $30 trillion and its population is approximately 340 million.

Consequently, due to higher incomes, there is a high demand for high-quality products. When demand for high-quality products increases in the US, similar products will be manufactured in India, which will then be sold in India, benefiting the general public.

According to Goenka, India-US trade will also increase the country's exports to other countries.

He cited the example that whenever a product is exported to the US, its acceptance automatically increases in countries like the Gulf, Europe and Russia. Therefore, as trade with the US increases, India will also benefit from trade with other countries.

--IANS

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Seoul, Feb 11 (IANS) South Korea will begin a 1 trillion-won ($687.8 million) project next month to develop artificial intelligence (AI) semiconductors for on-device use, the industry ministry said on Wednesday.

The government and private companies will funnel a combined 1 trillion won into the project over the next five years, with a goal of creating some 10 AI chips that can be used in self-driving cars, smart home appliance products, humanoid robots and others, according to the Ministry of Trade, Industry and Resources, reports Yonhap news agency.

The project is part of the government's comprehensive plan to foster the AI transformation of manufacturing industries through its Manufacturing AX (M.AX) Alliance initiative announced at an earlier meeting between Industry Minister Kim Jung-kwan and AI chipmaking companies.

The alliance, which kicked off in September, comprises some 1,000 major companies and research institutes, including tech giant Samsung Electronics Co., auto giant Hyundai Motor Group, home appliance maker LG Electronics Inc. and robotics firm Rainbow Robotics.

The upcoming project will help local companies reduce their technological dependence on foreign AI chipmakers, the ministry said.

The government plans to improve local fabless companies' access to foundries to help them create test products for advanced nodes and strengthen financial support for the semiconductor industry by creating a dedicated investment fund for fabless companies.

Support will be extended to companies that produce middle-tech chips for the automotive, communications and defence sectors, according to the ministry.

"In the era of AI, semiconductors are a core strategic asset that determines both industrial competitiveness and national security," the industry minister said in a press release, vowing government support for the industry.

Meanwhile, South Korea will work to begin mass producing humanoid robots in 2029 and autonomous vehicles powered by artificial intelligence (AI) the following year, making it a global leader in the AI transformation (AX) of manufacturing industries, the industry ministry said.

The plan was unveiled at the launching ceremony of the Manufacturing AX Alliance (M.AX), which will connect major companies, such as Hyundai Motor Group, LG Electronics Inc., Samsung Electronics Co. and Posco Group, with AI companies to help manufacturing companies apply AI technology in their businesses.

--IANS

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New Delhi, Feb 11 (IANS) India’s quick‑commerce sector saw white‑collar job postings rise 21 per cent year‑on‑year, now accounting for 14 per cent of total quick‑commerce hiring as firms prioritise data analytics, product technology and supply‑chain strategy, a report said on Wednesday.

The report from job portal foundit said the sector is transitioning from rapid expansion to a sharper focus on profitability, predictability, and operational intelligence.

“India’s quick‑commerce ecosystem is moving from scale‑first growth to efficiency and intelligence‑led expansion,” said Anupama Bhimrajka, VP, Marketing, foundit.

The demand is strong for professionals across "data analytics, product technology, and supply chain strategy, as companies focus on improving forecasting accuracy, optimising inventory movement, and strengthening customer experience," it said.

While overall white‑collar hiring across industries dipped 2 per cent month‑on‑month in January 2026, it remained up 9 per cent year‑on‑year, the report added.

As delivery and dark‑store roles continue to dominate overall headcount, white‑collar roles are emerging as the strategic core of the sector.

Data and analytics‑led roles are the fastest‑growing white‑collar segment and accounted for 26 per cent of white‑collar postings and grew 28 per cent year‑on‑year. Product and ops tech followed at 21 per cent share and 24 per cent growth, the report said.

Supply chain and network planning posted 18 per cent share and 22 per cent growth, respectively.

Demand forecasting analysts, product managers and network planning managers were among the fastest‑growing roles.

Job postings increasingly mention SQL, Power BI, Python, demand forecasting, and cost optimisation as baseline requirements — even outside analytics roles, the report noted.

Mid-career talent was the growth engine with experience of 4-10 years accounting for 55 per cent of hiring.

The report highlighted Bengaluru as the leading hub, contributing one in four white‑collar quick‑commerce roles, while Hyderabad showcased above-average growth, driven by ops-tech and scalable planning roles. Tier‑2 cities are increasingly hosting regional command centres and ops-heavy, analytics-enabled, and execution-critical roles, the report further said.

--IANS

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New Delhi, Feb 11 (IANS) Gold prices surged moderately, while silver surged sharply on Wednesday, buoyed by hopes of a more accommodative Federal Reserve amid soft US consumer spending data.

MCX gold April futures climbed 0.71 per cent to Rs 1,57,909 per 10 grams on an intra-day basis. Meanwhile, MCX silver March futures gained 2.67 per cent to Rs 2,59,300 per kg.

The dollar index eased to 96.59 on Wednesday from 96.80 in the previous session, making greenback-backed bullion slightly cheaper for overseas buyers. The weakness in the dollar also contributed to the rally in precious metals.

In the international commodity markets, gold and silver prices inched up as US Treasury bond yields declined following weak December retail sales data.

Analysts said that December retail sales fell short of expectations, signalling a slowdown in consumer spending and igniting concerns about slowing growth.

Markets are currently pricing in at least three rate cuts this year, up from two earlier this week -- a major tailwind for bullion due to expectations of a more relaxed monetary policy.

COMEX Gold traded within the $4,900–$5,100 band after correcting sharply from highs above $5,500–$5,600.

The broader uptrend of COMEX Gold remains intact, with the recent pullback appearing as healthy profit booking rather than structural damage, market participants said.

Industrial demand and supply constraints continue to support the long-term constructive view of silver despite elevated volatility, they said, adding that the $65–$70 zone remains a strong structural support band for COMEX Silver.

"Gold has support at Rs 1,55,500 and Rs 1,54,000 zones, while resistance at Rs 1,57,700 and Rs 1,59,000. Silver has support at Rs 2,44,000 and Rs 2,48,800 levels while resistance at Rs 2,60,000," an analyst said.

Investors remain keen on cues from the non-farm payrolls and inflation data for more cues on the Fed's interest rate trajectory.

—IANS

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Mumbai, Feb 11 (IANS) The Indian apparel (exports) sector has been upgraded to 'Stable' outlook from 'Negative' after the US reduced reciprocal tariffs on Indian goods to 18 per cent from 25 per cent, a report said on Wednesday.

The report from ratings agency ICRA restored its outlook on the apparel sector, saying apparel export revenues are likely to rebound 8–11 per cent in FY27 even as shipments are still projected to decline 3–5 per cent in FY26.

The report attributed revenue growth to recent trade discussions between India and the US aimed at easing sector‑specific pressures. Operating profit margins are expected to compress to around 7.7 per cent in FY26 before recovering to about 9.5 per cent in FY27, the ratings agency said.

India’s apparel exports stood at $16 billion in FY25, with the US accounting for nearly one‑third of shipments.

“The sharp increase in US tariffs last year had been particularly debilitating for export‑oriented companies in sectors such as textiles, cut and polished diamonds, and leather and leather products,” said Jitin Makkar, Senior Vice President and Group Head, Corporate Ratings, ICRA Limited.

Apparel exporters saw their margins compress by nearly 200 basis points over the past couple of quarters as they were compelled to extend discounts to US buyers to retain volume share, he added.

On the broader outlook, the report said the lowering of US tariffs, the anticipated India‑EU free trade agreement and other bilateral pacts should support a gradual strengthening of India’s manufacturing export growth over the medium term.

The tariff cuts represent a relatively smooth landing for Indian exporters at a time when global trade dynamics remain fluid.

Following this development, the labour-intensive export sectors, including textiles, cut and polished diamonds, seafood, and footwear will see improved landed-cost competitiveness.

While the US tariff reduction offers a meaningful near-term relief to exporters, ICRA expects that over the longer term, geographical diversification will emerge as a key risk mitigation strategy that corporate India will adopt.

—IANS

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Mumbai, Feb 11 (IANS) The combined assets under management (AUM) of gold and silver exchange‑traded funds (ETFs) touched record highs, crossing Rs 3 lakh crore in January, according to the data from the Association of Mutual Funds in India (AMFI).

The surge marked a near‑threefold rise in five months from Rs 1 lakh crore in August 2025 driven by record investor inflows despite sharp price volatility.

The expansion was accompanied by a sharp rise in folios as gold ETF folios surged to 1.14 crore from 80.34 lakh, while silver ETF folios jumped to 47.85 lakh from 11.31 lakh over the same period.

January saw all-time high inflows, with gold ETFs recording inflows of Rs 24,039 crore and silver ETFs attracting Rs 9,463 crore, according to AMFI.

Those combined inflows exceeded equity fund inflows of Rs 24,029 crore for the month. In December, combined inflows into gold and silver ETFs stood at Rs 15,609 crore, compared with Rs 28,055 crore into equity funds.

Analysts said the shift reflected a temporary reallocation by investors toward defensive assets amid moderation in inflows to equity mutual fund inflows due to macroeconomic uncertainty.

They advised long‑term investors to maintain disciplined allocations to precious metals at around 10–15 per cent of a portfolio and do staggered investments through systematic plans rather than lump‑sum buys at elevated levels.

The AUM of open-ended equity-oriented schemes stood at Rs 34.86 lakh crore by January end, while open-ended debt-oriented schemes managed Rs 18.90 lakh crore.

Himanshu Srivastava, Principal Research, Morningstar Investment Research India, said that flows remained constructive despite bouts of market volatility, supported by steady SIP contributions and continued confidence in the long-term structural growth prospects of Indian equities.

The moderation in overall inflows was largely driven by cooling momentum in the mid and small-cap segments, he mentioned. Large-cap and focused funds also witnessed healthy traction in January, recording higher inflows compared with December.

—IANS

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Mumbai, Feb 11 (IANS) The Indian equity markets opened with mild gains early on Wednesday amid continuing foreign inflows and strong domestic earnings cues.

As of 9.23 am, Sensex added 122 points, or 0.14 per cent, to reach 84,396, and Nifty gained 50 points, or 0.19 per cent, to settle at 25,985.

Main broad-cap indices performed in line with benchmark indices, as the Nifty Midcap 100 added 0.13 per cent, and the Nifty Smallcap 100 edged up 0.18 per cent.

All sectoral indices traded in the green. Most notable gainers were Nifty consumer durables up 0.79 per cent, auto up 0.63 per cent and metals up 0.41 per cent.

Immediate support for Nifty is placed at 25,700-25,800 zone, while resistance is anchored at 26,000 zone, said market watchers.

Analysts said that continued optimism around the interim India–US trade framework and strong corporate earnings are providing near-term support to domestic equities.

However, with Nifty approaching the key psychological resistance of 26,000, traders may adopt a cautious approach at higher levels, they added.

Asia-Pacific markets traded mostly higher on Wednesday, despite AI-related fears and weak economic data causing losses in the US markets.

The US December retail sales report showed that consumer spending was lower than 0.4 per cent monthly gain expected by economists.

In Asian markets, China's Shanghai index added 0.22, and Shenzhen eased 0.07 per cent, Japan's Nikkei gained 2.28 per cent, and Hong Kong's Hang Seng Index edged up 0.33 per cent. South Korea's Kospi gained 0.87 per cent.

The US markets ended largely in the red overnight as Nasdaq eased 0.59 per cent. The S&P 500 lost 0.33 per cent, and the Dow Jones added 0.1 per cent.

On February 10, foreign institutional investors (FIIs) net bought equities worth Rs 69 crore in India, while domestic institutional investors (DIIs) were net buyers of equities worth Rs 1,174 crore.

In the previous session, benchmark indices extended their recovery for the third consecutive day. The rally was led by auto, metal and select consumption and healthcare stocks.

—IANS

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Seoul, Feb 11 (IANS) Science Minister Bae Kyung-hoon said on Wednesday that the government has been conducting a probe into the South Korean unit of US-listed e-commerce giant Coupang under principle without discrimination, refuting criticism from the US political circle.

Bae made the remark during a parliamentary session, after the US House Judiciary Committee began investigating what it has called South Korea's "discriminatory targeting" of American companies last Thursday (US time), reports Yonhap news agency.

"(The probe by South Korea) is being implemented under the law and principle," Bae said, responding to a lawmaker's question on whether the government has taken any discriminatory measures against Coupang.

Coupang reported a massive data breach in November, in which personal information, including names, phone numbers, email addresses and delivery details, was exposed.

The company, citing its own investigation, initially claimed that data from only 3,000 accounts had been leaked.

A joint public-private probe into the breach, however, confirmed on Tuesday that over 33.6 million accounts have been exposed.

"While (information) of the 33.67 million accounts can be stored in a hard disk for cloud account, Coupang is not providing a clear explanation," Bae said.

"It is the duty of the government to clearly find, investigate and reveal clear facts," Bae added.

The retail giant, offering overnight delivery of groceries and daily necessities, is one of the most popular shopping platforms in South Korea, with the breach possibly affecting about two-thirds of the country's entire population.

A joint public-private probe into a major data breach case at the South Korean unit of U.S.-listed e-commerce giant Coupang Inc. has confirmed that over 33.6 million accounts have been exposed, the science ministry said, suggesting the company may have sought to play down the incident by initially claiming only some 3,000 had been compromised.

The South Korean unit, Coupang Corp., also failed to promptly report the incident despite related regulations, according to the Ministry of Science and ICT.

The ministry said it will impose a fine on the company for the delayed report and pursue a formal investigation, stressing that the company has failed to preserve key evidence despite its earlier request.

—IANS

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Seoul, Feb 11 (IANS) Samsung Electronics said on Wednesday it will showcase a new flagship smartphone during the Galaxy Unpacked event in the United States this month, teasing the new device will come with enhanced artificial intelligence (AI) features.

The Galaxy Unpacked 2026 will be held in San Francisco on February 25 (US time), the South Korean tech giant said in the invitation titled "The Next AI Phone Makes Your Life Easier."

"The new Galaxy S series is coming, built to simplify everyday interactions, inspire confidence and make Galaxy AI feel seamlessly integrated from the moment it's in hand," the company said in a release, reports Yonhap news agency.

"Join us as we unveil Samsung's newest Galaxy innovations, marking a new phase in the era of AI as intelligence becomes truly personal and adaptive," it added.

Sources said the new Galaxy smartphone, widely expected to be the Galaxy S26, will be equipped with a built-in privacy feature allowing users to protect on-screen information from others without the need to attach an additional film.

The South Korean tech giant said the new feature will allow users to customise display visibility to prevent "shoulder surfing," noting the feature will be "coming to Galaxy very soon."

Samsung Electronics is expected to hold a showcase event for the Galaxy S26 smartphone in February. The new feature is set to be available for the Galaxy S26 Ultra, according to sources.

"With multiple settings for adjusting visibility, you can limit what others can see based on the level of privacy protection you need," the company said in a release.

The company said users can customise the feature depending on applications.

"It took over five years of engineering, testing and refining to get here," the company said. "We studied how people use their phones, what they consider private and how security should feel in everyday life."

—IANS

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