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India’s economy is projected to grow by 6.5% in 2025, supported by strong public spending and continuing monetary easing, the United Nations Conference on Trade and Development (UNCTAD) said on Wednesday.Despite a slowdown from the estimated 6.9% growth in 2024, India is forecast to be the fastest growing economy.Globally, economic growth will expand by 2.3% in 2025 – “below the threshold of 2.5% – a marker of a global recessionary phase”, said UNCTAD.The reduction in policy rate cut is anticipated to support household consumption and encourage private investment in India, according to the report, titled ‘Trade and Development Foresight -- 2025 Under Pressure: Uncertainty Reshapes Global Economic Prospects’.Last week, the Reserve Bank of India’s (RBI) monetary policy committee (MPC) reduced the policy rate by 25 basis points to 6%, following a similar rate cut in February -- the first in five years.Economists expect further rate cuts by the MPC.However, rising trade policy uncertainty is a concern as new tariffs imposed by the US come into effect, the report highlighted.“The imposition of escalating rounds of tariffs will have a disproportionately large impact (both directly and indirectly) on developing countries, particularly those that are more integrated into global supply chains,” the report noted.It also emphasised that South–South economic integration presents opportunities for developing countries in trade and beyond.China’s gross domestic product (GDP) growth is projected to slow to 4.4% in 2025 from 5% in 2024. The US is also expected to see a deceleration to 1% from 2.8%.The South Asia region as a whole will grow by 5.6% in 2025, “as declining inflation opens the way for monetary loosening across most of the region”, said the international body.However, food price volatility will remain a risk, it said.Public debt continues to rise in many countries, resulting in increased net interest payments.UNCTAD noted that net interest payments are the highest in developing countries like Brazil, India, Mexico and South Africa.India is among the five out of 12 countries (in G20 economies) which are expected to reduce its general government net borrowing, alongside Argentina, Australia, Indonesia and the Republic of Korea, the report said.

Information technology stocks tumbled up to 6% on Thursday, dragged lower by Wipro’s disappointing earnings and downbeat revenue outlook for the April-to-June quarter, triggering a broad selloff across the sector.Shares of Wipro plunged 5.7% after the company missed fourth-quarter revenue estimates and warned of a 1.5% to 3.5% decline in revenue for the current quarter, citing macroeconomic headwinds and global tariff turmoil. The selloff pulled the Nifty IT index down 2.3% in early trade.Wipro’s earnings miss and cautious guidance sent ripples across the sector. Shares of larger peer Infosys dropped 1.6% ahead of its earnings report due later in the day. LTIMindtree, HCL Technologies, and Mphasis each fell between 3% and 3.4%. Tech Mahindra, Coforge, and Persistent Systems lost between 2% and 2.4%, while Tata Consultancy Services slipped 1.7%.The broader markets also opened lower, with the Nifty 50 slipping 0.3% to 23,368.55 and the BSE Sensex declining 0.24% to 76,868.4 as of 9:15 a.m. IST, as weakness in IT stocks weighed on sentiment.Brokerages moved quickly to reassess Wipro’s outlook. Nuvama downgraded the stock to a “hold” and cut its target price to Rs 260 from Rs 300, citing weak Q4 performance and muted near-term guidance. Wipro’s IT services revenue for the quarter came in at $2,597 million, down 0.8% sequentially and 1.2% year-on-year in constant currency terms, falling short of analysts’ expectations.“Low visibility for positive growth in FY26 has weakened the earlier turnaround thesis,” Nuvama said in a note, adding that it had trimmed its FY26E and FY27E EPS estimates by 3% and 3.7%, respectively, and revised the valuation multiple down to 20x FY27 PE from 22x.The company’s guidance for Q1FY26 reflects the continued pressure from macroeconomic uncertainties, including potential impacts from global trade tariffs.Also read | IT rout pushes Nifty below 23,400; Sensex drops over 300 points(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Sensex and Nifty closed higher for the third straight day on Wednesday as retail inflation slipping to near six-year lows raised hopes of further rate cuts.Stocks that were in focus include names like Jio Financial, which rose 2% and SBI Card, which gained 0.4% and Canara Bank, whose shares rallied 2% on Wednesday.Here's what Viral Chheda, Sr Analyst at SSJ Finance and Securities, recommends investors should do with these stocks when the market resumes trading today.Jio FinancialAfter making an all time high around 395 in Apr 2024, stock has witnessed a Bear Run to make the 52 week low of 198 odd levels. Price has given almost 50% downside move from its higher level of 395 odd levels as bears were having upper hand over price.At the lower level stock is trading in the range of 198-235 and in the current week with relatively high volume price has breached the consolidation phase and moving above that level indicated further upside from here.The Stochastics Oscillator is moving in an upward trend along with an increase in volume indicating further upside move with limited downside risk. Hence one can buy at current level and more at dips of 215 with stop loss of 195 on weekly closing basis and upside can be seen till 310-360 in the coming 10-12 months.SBI CardAfter making double bottom around 661 in Dec 2024, price has given a sharp upside move to make the 52 week high of 884 odd levels. Price has given almost 34% returned from its lower level as Buyers were having full control over the price.After moving in the range of 820-884 for a few days, price has breached the Consolidation Phase and moving above that level indicates further upside from here. Price is also moving above all three major averages of 20 DMA, 50 DMA and 200 DMA respectively. For long term stock looks good and can be bought at every dips.The Stochastics Oscillator is moving in an upward trend along with an increase in volume indicating further upside move with limited downside risk. Hence one can buy at current level and more at dips of 840 with stop loss of 800 on weekly closing basis and upside can be seen till 1000-1100 in the coming 10-12 months.Canara BankAfter making an all time high around 125 in May 2024, stock has witnessed a Bear Run to make the 52 week low of 78.5 odd levels. Price has given almost 38% downside move from its higher level of 125 odd levels as sellers were having full control over price. From its lower level price started to give some pull back and is currently moving around 20% higher from its price to trade around 95 odd levels.Higher Top Higher Bottom pattern can be seen in this upside move. For long term stock looks good and can be bought at every dips. The Stochastics Oscillator is moving in an upward trend along with an increase in volume indicating further upside move with limited downside risk.Hence one can buy at current level and more at dips of 85 with stop loss of 76 on weekly closing basis and upside can be seen till 124-145 in the coming 10-12 months.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)