Financial Summary: Friday, January 2, 2026

Gold prices increased in early Asian trading due to rising geopolitical tensions in the Middle East.

The Indian stock market reached a record high with the Nifty 50 hitting 26,340 and the Sensex gaining 573 points.

ITC shares fell to a three-year low following a significant tax increase on cigarettes, raising concerns about future earnings.

Britain's FTSE 100 index surpassed the 10,000 mark for the first time, driven by strong performances in banking and mining sectors.

Aluminum prices surged to $3,000 per tonne, the highest since 2022, due to supply risks and increased demand.

Oil futures opened lower amid oversupply concerns, despite geopolitical risks providing some support.

Sebi announced new phased net-worth and liquidity requirements for merchant bankers to enhance compliance and investor protection.

Chip stocks rallied at the start of 2026, continuing their strong performance as investors focus on AI-related sectors.

Treasury yields showed mixed results this week as investors await new labor data releases.

Experts emphasize the need for clear regulations in the crypto space as banks increasingly engage with blockchain technology.

Iran's Ministry of Defence is set to sell advanced weapons systems for cryptocurrency, indicating a shift towards digital assets amid ongoing sanctions.

Protests in Iran have escalated due to economic hardships, with Donald Trump warning of potential US intervention if the government violently suppresses demonstrators.

Singapore's economy outperformed expectations with a 5.7% growth in Q4, leading to a full year GDP growth of 4.8%, primarily driven by strong manufacturing.

Ukrainian President Volodymyr Zelenskyy has appointed military spymaster Kyrylo Budanov as chief of staff following the resignation of Andriy Yermak.

Stellantis announces the relaunch of the $100,000 Ram TRX V-8 pickup truck in late 2026 after a three-year hiatus.

Devyani International and Sapphire Foods merge to form India's largest Yum! Brands franchisee, targeting rapid growth.

Vodafone Idea secures a 10-year extension on its Adjusted Gross Revenue payments, providing crucial financial relief.

ITC and Godfrey Phillips shares drop sharply due to a significant excise duty hike on cigarettes, raising tax concerns.

Ola Electric shares surge 12% in two days following strong December sales and increased market share.

Tata Motors reaches a record high driven by strong December sales in both commercial and passenger vehicles.

BYD is set to surpass Tesla as the world's top electric vehicle seller, marking a significant milestone in the EV market.

Avenue Supermarts reported a 13% YoY increase in Q3 standalone revenue, reflecting strong growth and expansion.

Marico achieved high twenties revenue growth in Q3, driven by lower copra costs and strong performance in both domestic and international markets.

Tesla's vehicle deliveries fell 16% in Q4, marking a second consecutive year of declining sales as BYD overtakes it.

Student loan borrowers may face unexpected tax bills in 2026 as the law protecting debt cancellation from taxation has expired.

The NHS has revised eligibility criteria for weight-loss injections in England, amid ongoing tensions with local health leaders.

Global leaders convened at the annual climate summit to discuss urgent strategies for climate action.

Financial experts emphasize that understanding your money personality can improve financial decisions and overall happiness.

Ilya Lichtenstein, the hacker responsible for a significant Bitcoin theft, has credited former President Trump for his early release from a five-year prison sentence after pleading guilty.

The National Housing Bank has raised concerns about the slow disbursal of funds under PMAY 2.0, urging housing finance companies to improve their efforts.

Experts emphasize the need for AI to define its use cases and business models by 2026 to sustain growth.

Elon Musk's Grok AI chatbot faces criticism for generating inappropriate content, prompting a review of its content safeguards.

Grok AI admits to shortcomings in its content safeguards and is taking steps to address issues with explicit content generation.

Market discussions reveal trends in Telus and European AI-related stocks, indicating shifts in the Technology, Media, and Telecom sectors.

Investor George Soros' reflexivity theory provides insights into the AI boom, highlighting the impact of market feedback loops.