Oil and energy firm shares began the week in green amid ongoing geopolitical concerns in surrounding South American oil producing nation, Venezuela. Reliance Industries Limited (RIL) soared 1% to its 52-week high of Rs 1,611.20 while other oil stocks also added up to 2% on Monday. The rise came even as global crude prices remained mostly flat due to supply surplus concerns.Hindustan Petroleum led the gains, rising 1.85% to an intraday high of Rs 508.45. ONGC advanced 1.16% to Rs 246.80, Indian Oil Corporation added 1.03% to Rs 168.79, and Oil India rose 0.47% to Rs 432.45. This follows the dramatic removal of Venezuela’s President Nicolas Maduro and his wife, in a large-scale US military operation over the weekend. The duo was transported to America where they will be facing many charges, including narco-terrorism and drug trafficking. US President Donald Trump has vowed to “run the country” until there is a “proper” transition of power, introducing fresh uncertainty for Venezuela’s oil industry and its international partners. ONGC is expected to remain under the spotlight due to its direct exposure to Venezuelan assets through its overseas arm, ONGC Videsh, which holds equity stakes in two projects in the country. Market interest has intensified amid speculation that a US-led restructuring of Venezuela’s oil sector could potentially unlock long-pending cash flows. Global brokerage house Jefferies, as cited by ET, said that ONGC may be close to recovering around US$500 million in unpaid dividends from its Venezuelan upstream investment. “ONGC has not been paid its share of dividends from production at San Cristobal, totaling more than US$500mn,” the brokerage said, adding that “with the US stepping in, ONGC may stand to recover these unpaid amounts,” subjected to a possible easing of sanctions and changes in control and marketing of Venezuelan crude. The unpaid dividends are linked to ONGC Videsh’s investment in the San Cristobal field. While the asset has been producing, the repatriation of profits has been blocked by US sanctions on Caracas, forcing ONGC to continue carrying the receivable on its books and leaving investors uncertain about when, or if, the funds would be realised. Jefferies said that any recovery from Venezuela would come in addition to ONGC’s existing cash generation. The company reported a consolidated net profit of Rs 571 billion in FY24, with free cash flow to firm of Rs 473.6 billion and a double-digit free-cash-flow yield. The stock is trading below book value, with a FY24 price-to-book multiple of 0.9 times and an earnings yield of 18.1%, according to ET. The brokerage also flagged potential upside from ONGC’s second Venezuelan asset. “It might also be able to develop the Carabobo field in Venezuela’s Orinoco belt; ONGC has an 11% equity stake in the field,” analysts wrote, adding that the stalled capital expenditure plans might be revived if operating conditions improve. Jefferies valued ONGC’s consolidated operations at 8.2 times its December 2026 forward earnings. The brokerage has maintained a ‘Buy’ call on the stock, setting a target price of Rs 310, which implies a potential upside of 28% from its last closing level of Rs 241.50.However, the brokerage warned, “lower Brent, lower crude/gas price realizations, and/or lower-than-expected production from KG 98/2 are key downside risks,” while identifying the potential US$500 million dividend recovery as a medium-term catalyst, ET reported. Another company under the radar is Oil India. The firm, through its wholly owned subsidiary, Oil India Sweden AB, owns 50% of Indoil Netherlands BV, which holds a 7% equity stake in Petrocarabobo SA, the joint venture behind Project Carabobo-1. Reliance Industries is also expected to remain in spotlight, as the company has been buying Venezuelan crude. However, reports in March last year said that it may halt such imports after the US announced a 25% tariff on countries purchasing oil from Venezuela. Indian Oil Corporation may attract attention as well, as its subsidiary, IOC Sweden AB, functions as an investment company for exploration and production projects in Venezuela, alongside a battery technology venture in Israel.Meanwhile, crude prices showed limited movement. Brent crude futures edged up 0.2% to $60.87 as markets weighed the US intervention in Venezuela against an OPEC+ decision on Sunday to keep oil output unchanged.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)

Top stocks to buy (AI image)

Stock market recommendations: According to Sudeep Shah, Head – Technical Research and Derivatives, SBI Securities, the top stock picks for this week are CESC, and Indian Bank. Here’s his view on Nifty, Bank Nifty for the week starting January 5, 2026:Nifty ViewIndian equities kicked off the new calendar year on a strong note, with the Nifty scaling a fresh alltime high. After topping out at 26325 on December 1, 2025, the index slipped into a consolidation phase, where Nifty traded in a narrow range of 633 points, marking its tightest monthly range since August 2023.Over the last four sessions, momentum shifted decisively in favor of the bulls. From the recent swing low of 25878, the index climbed nearly 450 points, largely supported by strength in heavyweight counters. Participation indicators also improved, with Nifty Futures rollover rising to 72.29% in the December series, compared with 68.77% in November and slightly above the three-month average of 72.28%, reflecting continued trader confidence and willingness to carry positions forward.Friday’s robust rally pushed the daily RSI past the 60 level, signaling firming momentum and increasing prospects of further upsides. Reliance Industries played a notable role in the week’s gains, advancing 2.12%.On the sectoral front, metals led the charge, with the Nifty Metal index jumping 5.7% amid broad-based buying across constituents. However, the overall gains were partially capped by a steep decline in ITC, which tumbled 13.39% after the government notified a substantial increase in cigarette excise duties.Looking ahead, based on the current chart setup, the index appears poised to extend its upward move, with potential to test 26500 and subsequently 26700 in the near term. On the downside, the 26150–26100 band is expected to act as immediate support.Bank Nifty ViewBank Nifty continued its strong upward momentum last week, outperforming the headline indices with a solid gain of nearly 2%. The index confirmed a breakout from a falling channel on the daily chart—an important technical development that signalled a shift in sentiment—and followed it up with a sharp upside move. This breakout also helped the index register a new all-time high, underscoring the strength and durability of the prevailing uptrend.The technical setup remains constructive. The daily RSI has climbed to 67.55 and is trending higher, reflecting firm momentum. Meanwhile, the MACD histogram has turned positive, supporting the bullish narrative. The daily Stochastic oscillator is also aligned with the ongoing up move, indicating that buying pressure continues to dominate.In this backdrop, Bank Nifty is expected to extend its upward trajectory in the near term, with upside potential toward 60600 and subsequently 61200. On the downside, the 59700–59600 band is likely to act as immediate support. A sustained hold above this zone should help preserve the positive structure and limit any short-term pullbacks.

Stock recommendations:

CESCCESC has given a decisive breakout above its downward-sloping trendline on the daily chart, with today’s move supported by a noticeable surge in volumes, indicating strong participation from buyers. The RSI has jumped sharply from 39 to 61 over the last four trading sessions, signaling a swift shift in momentum from bearish to bullish.Additionally, DI+ crossing above DI- on the ADX suggests emerging trend dominance by buyers. The stock has also closed above the upper Bollinger Band, highlighting strong bullish momentum and the potential start of an expansionary move. Hence, we recommend to accumulate the stock in the zone of 176-174 with a stoploss of 165. On the upside, it is likely to test the level of 189 in the short term.Indian BankIndian Bank witnessed a decisive breakout from its 14-session consolidation range of 764–796 on 30th December, supported by a sharp surge in volumes, confirming strong buying interest. Post the breakout, the stock has seen a solid follow-through over the next three trading sessions, indicating acceptance of higher levels and sustained demand. The stock has closed above the upper Bollinger Band for three consecutive sessions, signaling strong momentum and an expansion phase. Momentum indicators remain supportive, with MACD crossing above the signal line alongside rising green histogram bars, while RSI is trending higher and currently placed at 66, reinforcing the bullish outlook. Hence, we recommend to accumulate the stock in the zone of 862-856 with a stoploss of 830. On the upside, it is likely to test the level of 920 in the short term.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)

Naseem Shah and Kieron Pollard (Image credit: ILT20)

NEW DELHI: The International League T20 (ILT20) final delivered high drama on Sunday evening at the Dubai International Cricket Stadium, with emotions running high as a fiery exchange between Pakistan pacer Naseem Shah and MI Emirates captain Kieron Pollard took centre stage. The verbal spat, which forced on-field umpires and teammates to intervene, added a combustible edge to an already intense title clash and highlighted just how personal the battle for silverware can become, even in franchise cricket.

The flashpoint came during the 11th over of MI Emirates’ chase. After Pollard solidly defended a sharp delivery back down the pitch, Naseem appeared to direct a few words towards the veteran West Indies all-rounder. Pollard, renowned for his aggressive approach and competitive fire, reacted instantly, charging towards the bowler to voice his displeasure. What followed was a brief but heated confrontation that quickly drew the attention of players from both sides, including Jason Roy, as well as the match officials, who stepped in to defuse the situation before it escalated further.While tempers cooled, Naseem ensured he had the decisive say in cricketing terms. The young fast bowler returned later in the innings to remove Pollard, dismissing him for a valuable 28 and dealing a major blow to MI Emirates’ hopes of mounting a successful chase. WATCH:That breakthrough shifted momentum firmly in Desert Vipers’ favour. Naseem went on to complete an outstanding spell, finishing with figures of 3 for 18, as the Vipers tightened their grip on the contest.His performance proved pivotal as the Desert Vipers surged to a commanding 46-run victory, sealing their maiden ILT20 title in emphatic fashion. The win capped a memorable campaign and underlined the impact of Naseem’s pace and composure under pressure.Reflecting on the triumph after the match, Naseem told the broadcasters: “The pressure of a final is unlike any other. The acknowledgment for this victory belongs to the entire team, both for their batting and their bowling efforts. Our combination worked extremely well; we had excellent options on both fronts, and the team management effectively orchestrated those choices. Each player gave their utmost, and the final result is there for everyone to see.“

Russia’s overnight strikes on Kyiv province killed two people on Monday after air raid alerts were issued across the country, Ukrainian authorities said. One person was killed in the capital Kyiv, according to Tymur Tkachenko, head of the city’s military administration. Another victim, a man in his 70s, died in the neighbouring city of Fastiv, Kyiv regional governor Mykola Kalashnyk said.

“One person has been killed so far as a result of the attack. The attack is continuing,” Tkachenko said in a post on the Telegram messaging app, according to Reuters.The latest strikes come as Russia has stepped up attacks on Ukraine. Meanwhile, Kyiv and its allies are seeking to finalise a US-brokered plan aimed at ending Europe’s deadliest conflict since World War II.The violence follows a deadly weekend of cross-border attacks. On Sunday, two people were killed in Ukrainian drone strikes in Russia’s border regions, according to local officials. In the Belgorod region, one person died and two others, including a young child, were wounded when a drone hit a car, regional governor Vyacheslav Gladkov said. Another person was killed in a drone strike on a village in the Kursk region, regional governor Alexander Khinshtein said.In Ukraine, drone strikes overnight into Sunday also wounded three people in the Kharkiv region, the country’s State Emergency Service said.The escalation comes amid intensified diplomatic efforts to end the nearly four-year-old war. National security advisers from Europe and other allied countries visited Kyiv on Saturday to discuss security guarantees and economic support as part of a US-led push for peace.President Volodymyr Zelenskyy said work on peace proposals could now move faster after Ukraine shared key documents with 18 national security advisers, including those related to security guarantees. He said representatives from Ukraine’s General Staff and military sector were due to meet on Monday in Paris, followed by talks among European leaders on Tuesday.Zelenskyy, who is preparing to travel to Paris, said he hoped documents on security guarantees would be finalised during the meetings. He added that the discussions with US representatives were also expected.

Stock market today (AI image)

Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened flat in trade on Monday amidst mixed global cues. While Nifty50 was above 26,300, BSE Sensex was near 85,700. At 9:16 AM, Nifty50 was trading at 26,323.95, down 5 points or 0.017%. BSE Sensex was at 85,710.66, down 51 points or 0.060%.The focus this week is on a data calendar, both in India and overseas, as markets move into the early stage of the earnings season. Domestically, investors will track the final readings of the HSBC Services PMI and Composite PMI for cues on economic momentum.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “The year 2026 has begun with major geopolitical developments which can have profound consequences. The US action in Venezuela has the potential to further destabilise global geopolitics. The Russia-Ukraine conflict is likely to linger longer; there can be worsening of the protests in Iran and how the Iranian regime reacts to that in the context of threat of intervention by Trump; and perhaps even China might use this time of huge uncertainty for annexation of Taiwan. The huge uncertainty and unpredictability of geopolitics will influence the market, too. We will have to wait and watch how things unfold.” “A positive for India from the Venezuelan crisis is that its medium to long-term impact is bearish for crude. The market is likely to remain resilient in the near-term since we are at an all time high and the momentum might support the bulls. The Bank Nifty is strong and has fundamental support from impressive credit growth. Q3 results of the banking and financials segment will be good.”Global markets offered support after Wall Street closed higher on Friday. The Dow and the S&P 500 ended the session in green, snapping their four day losing streak at the start of 2026, led by gains in technology and industrial stocks such as Nvidia, Intel and Boeing. Asian equities also advanced, touching record levels as investors continued to favour technology shares.In commodities, oil prices showed mild gains on Monday as traders assessed the potential impact of political turmoil in OPEC member Venezuela on crude shipments, following the capture of Venezuelan President Nicolas Maduro by the Donald Trump administration. On the domestic institutional front, foreign portfolio investors were net buyers of Indian equities worth Rs 289 crore on Friday, while domestic institutional investors purchased shares worth Rs 677 crore, providing additional support to the market.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)

US President Donald Trump (AP photo)

US President Donald Trump on Monday issued a fresh warning to India, reiterating that the US will raise tariffs on New Delhi “if they don’t help on Russian oil issue,” once again tying his threat to the Russia-Ukraine war and India’s alleged role in bolstering Moscow through continued crude purchases.“We could raise tariffs on India if they don’t have help on Russian oil issue,” said US President Trump, quoted by Reuters.US President Donald Trump added, “They wanted to make me happy, basically… PM Modi’s a very good man. He’s a good guy. He knew I was not happy. It was important to make me happy. They do trade, and we can raise tariffs on them very quickly…”Trump was referring to India’s continued oil trade with Russia, a point his administration has repeatedly opposed, and which he had cited as the basis for doubling tariffs on India to 50% in August 2025.India is already facing the 50% tariff imposed by Trump, who has been sharply critical of New Delhi’s ties with Moscow and has alleged India of strengthening Russia in the Ukraine war by purchasing Russian crude. Trump’s deep interest in the Russia-Ukraine war is no secret. He has imposed heavy tariffs on India over its purchases of Russian oil while simultaneously attempting to position himself as a mediator between Moscow and Kyiv. He has held multiple rounds of talks with Vladimir Putin, even inviting him to Alaska, though none have produced meaningful results.Trump has also spoken with Ukrainian President Volodymyr Zelenskyy on several occasions, but those conversations, too, have yet to yield any concrete path to peace.Months earlier, Trump claimed that Prime Minister Narendra Modi had assured him India would stop buying Russian oil, calling it a “big step” towards increasing pressure on Moscow.However, India later clarified that no such conversation between Trump and Modi had taken place, dismissing the US President’s claim.