(Representative AI image)

Asian markets kicked off the new year on a positive note on Friday, tracking gains in US futures and higher oil prices, with technology stocks leading the rally in Hong Kong.Hong Kong’s Hang Seng index surged 2.2% to 26,189.79. Markets in Tokyo, Shanghai, Thailand and New Zealand remained closed for holidays.South Korea’s Kospi climbed 1.5% to 4,277.94, while Australia’s S&P/ASX 200 edged up 0.2% to 8,727.30. Taiwan’s Taiex rose 1.1%, and India’s Sensex added 0.1%.Chinese tech majors were among the top gainers.Alibaba jumped 3.2%, while Baidu rallied 7.5% after announcing plans to spin off its artificial intelligence chip unit, Kunlunxin. The unit is expected to list in Hong Kong in early 2027, subject to regulatory approvals.Asian equities have been supported by optimism that rapid adoption of artificial intelligence will drive demand for computer chips, data centres and related infrastructure. While manufacturing data across much of the region has remained weak, trade activity has shown resilience.“Exports from most countries have surged in recent months, and we think the near-term outlook for Asia’s export-oriented manufacturing sectors remains favorable,” Shivaan Tandon of Capital Economics said in a report, the Associated Press reported.US futures pointed higher, with S&P 500 futures up 0.5% and Dow Jones Industrial Average futures gaining 0.3%.Earlier on Wednesday, Wall Street ended 2025 on a weaker note, marking a fourth straight session of losses. The S&P 500 fell 0.7% to 6,845.50, the Dow Jones slipped 0.6% to 48,063.29, and the Nasdaq Composite dropped 0.8% to 23,241.99.Despite the late-year pullback, US markets posted strong annual gains. The S&P 500 rose 16.4% in 2025, setting 39 record highs during the year. The Nasdaq surged 20.4%, while the Dow ended 13% higher.Wall Street’s rally through 2025 was driven by enthusiasm around artificial intelligence, strong corporate earnings and three interest rate cuts by the US Federal Reserve. Investors are now betting the Fed will keep rates unchanged at its January meeting, AP reported.Silver rebounded 3.5% early Friday after plunging 9.4% on Wednesday. The metal gained more than 140% in 2025. Gold rose 1.1%, ending the year with a 63.7% gain.Oil prices also moved higher. US benchmark crude added 35 cents to $57.77 per barrel, while Brent crude climbed 35 cents to $61.20 per barrel.

Gold’s intraday technical structure points toward stabilization after correction, supported by EMA alignment. (AI image)

Gold price prediction today: Gold prices are likely to stabilize after a period of correction and investors can look to buy on dips, says Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities.Gold futures on MCX are trading near ₹1,35,690 after a phase of consolidation, with price action indicating base formation above key intraday supports. The market is showing early signs of stabilization after recent corrective moves, and technical indicators suggest that downside momentum is limited at current levels. The setup favors a buy-on-dips approach near ₹1,36,000, with clearly defined risk.Technical Setup:Price is trading close to the short-term EMA cluster, with EMA 8 attempting to turn upward and move above EMA 21. This indicates improving short-term momentum and the possibility of a trend reversal if prices sustain above ₹1,36,000.Gold is consolidating near the mid-Bollinger band after defending the lower band successfully. This structure suggests selling pressure is easing, and a move towards the upper band could unfold if buying emerges above support.Pivot Points (Previous Day):

Holding above the pivot support strengthens the bullish intraday bias.RSI is near 53, comfortably above the neutral zone, indicating improving momentum and scope for further upside without entering overbought territory.MACD is flattening after a negative phase, with histogram bars contracting. This suggests bearish momentum is fading and a positive crossover may develop on sustained buying.Intraday Trading View:

Bias: Bullish above ₹1,36,000; weakness only below ₹1,34,700.Conclusion:Gold’s intraday technical structure points toward stabilization after correction, supported by EMA alignment, RSI strength, and easing MACD pressure. Traders may look to initiate long positions near ₹1,36,000, keeping a strict stop-loss at ₹1,34,700 and targeting a move towards ₹1,38,000 during the session.Buy on Dips | Support: ₹1,36,000 | Target: ₹1,38,000(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)

NEW DELHI: Food delivery giants Zomato, Swiggy and magicpin reported a massive surge in orders on New Year’s Eve, saying operations remained largely unaffected despite a nationwide strike call by a section of gig workers demanding better pay and working conditions.Sharing a post on X, Eternal founder Deepinder Goyal said, “Zomato and Blinkit delivered at a record pace yesterday, unaffected by calls for strikes that many of us heard over the past few days.”

“Support from local law enforcement helped keep the small number of miscreants in check, enabling over 4.5 lakh delivery partners across both platforms to deliver more than 75 lakh orders (all-time high) to over 63 lakh customers during the day,” he added.Magicpin founder and CEO Anshoo Sharma also said the platform saw “no impact” from the strike, adding that New Year’s Eve once again showed how central food delivery has become to celebrations in India. He noted that lakhs of orders poured in every hour across metro cities.

Biryani, pizzas, butter chicken dominate orders

Magicpin said pizza emerged as the early favourite, while desserts such as gajar ka halwa and ice cream saw a three-fold jump in orders compared with last year, PTI reported.Dinner orders peaked around 9.30 pm, with butter chicken topping the charts in Delhi-NCR, followed by biryani and dal makhni.Swiggy and magicpin data showed Indians feasting on biryani, pizzas, butter chicken and traditional desserts. On Swiggy alone, biryani crossed 2.19 lakh orders before 7.30 pm.“Meanwhile, the age-old battle between pizzas and burgers continued. By 8.30 pm, over 2.18 lakh pizzas had been dispatched, while burgers put up a fight with over 2.16 lakh orders, proving that India’s palate is as diverse as its celebrations,” Swiggy said.Dining out also saw strong traction. Swiggy Dineout bookings were led by Bengaluru and Hyderabad, while Ahmedabad recorded the fastest growth with a 1.6x jump, followed by Lucknow (1.3x) and Jaipur (1.2x), PT reported.Goyal thanked delivery partners who worked through the day, saying, “delivery partners who showed up despite intimidation, stood their ground, and chose honest work and progress”.He cautioned people against being influenced by “narratives pushed by vested interests,” saying that a system would not continue to attract and retain large numbers of workers if it were fundamentally unfair.“The gig economy is one of India’s largest organised job creation engines, and its real impact will compound over time, when delivery partners’ children, supported by stable incomes and education, enter the workforce and help transform our country at scale,” he added.

Goyal explains 10-minute delivery model

In a separate post, Goyal sought to clarify concerns around quick-commerce deliveries, especially the 10-minute promise.“One more thing. Our 10-minute delivery promise is enabled by the density of stores around your homes. It’s not enabled by asking delivery partners to drive fast,” he said, adding that delivery partners do not even see a countdown timer on their apps showing the promised delivery time.He explained that after an order is placed on Blinkit, it is typically picked and packed within 2.5 minutes, after which the rider travels an average distance of under 2 km in about eight minutes, translating to an average speed of around 15 kmph.“I understand why everybody thinks why 10 minutes must be risking lives, because it is indeed hard to imagine the sheer complexity of the system design which enables quick deliveries,” Goyal said.“If you’ve ever wanted to know why millions of Indians voluntarily take up platform work and sometimes even prefer it to regular jobs, JUST ASK any rider partner when you get your next food or grocery order. You will be humbled by how rational and honest they will be with you,” he said.Goyal acknowledged that “no system is perfect, and we are all for making it better than today. However, it is far from what it is being portrayed on social media by people who don’t understand how our system works and why,” he said. “If I were outside the system, I would also believe that gig workers are being exploited, but that’s not true,” he added.

‘1 lakh workers participated in strike’

The Gig & Platform Services Workers Union (GIPSWU), which called the December 31 strike, claimed over one lakh workers across 22 cities participated, including around 14,000 members from major metros. The union reiterated demands such as minimum per-kilometre pay, workplace safety for women, maternity and emergency leave, and legal recognition of platform workers under labour laws.However, estimates suggest India has over 12.7 million gig workers, a number that government think tank NITI Aayog expects to grow to 23.5 million by 2029–30. Meanwhile, India’s third-largest food delivery platform, magicpin, said lakhs of orders were received every hour across metro cities on New Year’s Eve.

Putin, Trump (File photos)

Days after Russia claimed that Ukraine tried to target President Vladimir Putin’s official residence in a drone attack, Russian authorities on Thursday said they had shared what they described as evidence linked to the incident with the United States.The Russian defence ministry released a video on Telegram showing a meeting between Igor Kostyukov, chief of Russia’s main intelligence directorate, and a representative from the US military attache’s office in Moscow. Russian officials said the meeting was held to present materials connected to the alleged drone strike.

“I am Igor Kostyukov, chief of the main intelligence directorate of the general staff of the armed forces of Russia. I have invited you for an important matter. I would like to inform you that we have found the debris of unmanned aerial vehicles involved in this attack,” Kostyukov said at the start of the meeting, as seen in the video.During the meeting, Kostyukov showed a device that he said was recovered from one of the drones. He claimed that several drones shot down during the incident had navigation systems that were still intact.“In several of these drones, the navigation systems are well-preserved and technically functional. The decoding of the content of the memory of the navigation controllers of these drones, carried out by specialists of the Russian special services, unequivocally and accurately confirmed that the target of the attack was the complex of buildings of the residence of the President of the Russian Federation in the Novgorod region,” he said, as quoted by Anadolu Agency.Kostyukov then handed the device to the US military representative. “We want to hand over this controller and the description of this controller made by our specialists to you. We believe that this step will help to remove all questions and contribute to the establishment of the truth,” he said.

How the events unfolded

A drone strike in Russia’s Novgorod region earlier this week was allegedly aimed at the presidential residence. Moscow blamed Ukraine for the attack, an allegation Kyiv denied.Ukraine said Russia had provided no evidence to support its allegation, following which Russia released a video showing a damaged unmanned aerial vehicle lying in snow in a wooded area.US President Donald Trump said he was angry after learning about the reported incident. Speaking to reporters at his Mar-a-Lago club, Trump said, “I don’t like it. It’s not good. I learned about it from President Putin today. I was very angry about it.”By Wednesday, however, Trump appeared more sceptical, sharing on social media a New York Post editorial accusing Russia of obstructing peace efforts in Ukraine.Russian foreign minister Sergey Lavrov has warned that Russia would respond to the attack and said the timing and targets of Moscow’s response had already been decided.

Stock market today (AI image)

Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in green on Friday. While Nifty50 was above 261,50, BSE Sensex was up around 100 points. At 9:16 AM, Nifty50 was trading at 26,172.90, up 26 points or 0.10%. BSE Sensex was at 85,282.91, up 94 points or 0.11%.Indian markets are set to take cues from a combination of corporate earnings for the third quarter and global developments in the coming sessions, with analysts pointing to December-quarter results, Union Budget expectations and overseas factors such as progress on an India-US trade deal and possible US Federal Reserve actions as key influences. Earnings growth is expected to remain the primary driver of market direction through 2026.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “The impressive 25.8 % YoY increase in passenger vehicles sales in December bodes well for the auto industry. More importantly, this data confirms the growth momentum in the economy. It has to be watched whether this growth sustains, albeit at a slower pace, going forward. It is hugely important that the growth momentum in the economy sustains, because that alone can ensure the much needed earnings growth that the market needs to remain resilient and gradually move up.” “The positive news about the auto industry is largely in the price. A sector that lagged last year was the consumer durables industry, which has the potential to catch up, going forward. The beneficial impact of the interest rate cuts and GST cuts are yet to reflect in the demand for consumer durables. In the short-term, this is one segment that has good prospects.”Global risk sentiment was upbeat at the start of the New Year, with US equity index futures trading higher, signalling a positive opening for equities. Gains were also seen across precious metals, with gold and silver advancing in early trade.Gold edged up on Friday after touching a two-week low in the previous session, while silver and other precious metals recovered part of the losses recorded over the past week. Despite the recent pullback, the metals had logged historic gains over the course of 2025.On the institutional front, foreign portfolio investors continued to pare their exposure to Indian equities, selling shares worth Rs 3,268 crore on Wednesday. Domestic institutional investors, however, provided support to the market, purchasing equities worth Rs 1,526 crore during the session.(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)

At least 40 people were charred to death and over 100 others were injured after a deadly fire ripped a crowded bar in the ski resort town of Crans-Montana in Switzerland during a New Year’s party.According to the Swiss police, the blaze broke out in the early morning hours at Le Constellation where young partygoers who gathered at the bar to celebrate the new year.

Officials added that they are still investigating the cause of the fire and the explosion that followed. However, they ruled out the possibility of the terrorist attack.Emergency services sent 10 helicopters and 40 ambulances to transport the injured to hospitals, officials said at a news briefing Thursday morning. The emergency ward and operating rooms at the nearest major medical center ran out of space to treat the victims.Three specialized jets took burn victims to Zurich, the country’s largest city, about 90 miles away. In an interview with the Swiss news site 24 heures, Claire Charmet, the head of a hospital in Lausanne, where 22 severely burned patients were taken, said most of the survivors were between 16 and 26.How it happened?According to police commander Frederic Gisler, the smoke was spotted around 1.30am. Few seconds later a witness contacted the police.“Immediately, the red alarm, which mobilises the fire department, was triggered,” Gisler said, adding that firefighters “quickly contained the blaze” while the injured were being treated.Authorities, however, declined to speculate on what caused the tragedy.Meanwhile, several news channels seemed to point to sparklers that were apparently mounted on top of champagne bottles and held aloft by restaurant staff as part of a regular “show” put on for patrons who made special orders to their tables.“I think there were some ladies, waitresses, with champagne bottles and little sparklers. They got too close to the ceiling, and suddenly it all caught fire,” Axel, who was present at the time of the incident, told the Italian media outlet Local Team.A tourist from New York, who filmed bright orange flames pouring from the bar, told AFP he saw people running and screaming.Alexis Lagger, an 18-year-old, had been walking with a group of friends past Le Constellation bar, a spot popular with young people and tourists, when they noticed smoke and flames emerging from the venue and called the police. “People were running through the flames. People were using chairs to try to break the windows,” he told Swiss public broadcaster RTS.Were safety standards met?According to Crans-Montana website, Le Constellation has a capacity of 300 people, plus another 40 people on its terrace.However, several witnesses said that the event space in the basement of the establishment, where the fire began, was connected with the ground floor by only a staircase, which some described as “narrow”.Meanwhile, Wallis’s chief prosecutor Beatrice Pilloud contested the allegations and stressed that the cause of the tragedy was still being investigated.Responding to questions from reporters, she said she had seen the site herself.“What exactly constitutes a narrow staircase?” she asked, stressing that the probe would “determine whether all safety standards were met”.Pilloud also said it was “too early” to comment on whether emergency exits met the required standards, or whether the necessary procedures had been followed before organising the New Year’s event.Multiple sources told news agency AFP that the bar owners are French nationals: a couple originally from Corsica who, according to a relative, are safe and sound, but who have been unreachable since the tragedy.Given the bar’s usually youthful clientele, questions were also being raised about the possible presence of minors at the time of the tragedy.Who are the victims?The bar was a popular spot among the tourists and drew a young crowd. Authorities are yet to release any information on the victims, but said that foreign nationals are also expected among the victims.“Given the international nature of the Crans resort, we can expect foreign nationals to be among the victims,” Gisler said.He said Swiss authorities were “in close contact with the victims’ families, whom we are informing in real time, as well as with the various embassies involved”.Stephane Ganzer, head of Wallis’s security department, did not confirm that.But, he told reporters, “you can imagine that on New Year’s Eve, in a ski resort, the population is undoubtedly quite young”.We have someone close to us who is still missingMeanwhile, hundreds gathered in silence in the freezing night, laying flowers and lighting candles to remember the victims.“There are dead and injured, and we have someone close to us who is still missing. We have no news of them,” said one woman who did not want to be identified.After laying flowers with her friend, they walked away, arm in arm.

Top stocks to buy (AI image)

Stock market recommendations: According to Bajaj Broking Research, the top stock picks for January 2, 2026 are Canara Bank, and Nykaa. Here’s its view on Nifty and Bank Nifty:Index View: NiftyNifty is expected to remain range-bound with an upward bias, oscillating within the 25,700–26,300 corridor in the near term. The index is positioned at a technical inflection point, where a decisive move outside this band is likely to define the next directional leg.A sustained close above 26,300 would act as a bullish trigger, paving the way for a potential advance toward the 26,500 zone in subsequent sessions.On the downside, 26,000 serves as immediate support. A stronger demand zone is placed between 25,700–25,800, which coincides with the 50-day EMA, recent swing lows, and a key retracement of the prior up-move.Maintaining trade above this support cluster is essential to protect the positive momentum of the past three months and keep the broader bullish structure intact.BANK NiftyBank Nifty continues to outperform the Nifty, displaying clear relative strength, and is in the process of base-building within the 58,500–60,100 band over the near term.A decisive breakout with follow-through above 59,500, which also coincides with an intermediate supply zone, could trigger fresh momentum toward the lifetime high region around 60,100 in the coming sessions.The strong up-move of the past two months remains well anchored within an ascending price channel, highlighting persistent accumulation even at higher levels.On the downside, the 58,300–58,600 zone offers robust support, converging with the 50-day EMA and the earlier breakout base. As long as the index defends this support cluster, the medium-term bullish structure remains intact.

Stock Recommendations:

Canara BankBuy in the range of ₹ 153-155

The counter has established a strong uptrend, marked by a multi-month breakout and a consistent higher high–higher low formation, highlighting sustained buying interest. Prices continue to hold above major weekly moving averages, with rising volumes lending credibility to the ongoing strength.On the downside, 145 acts as immediate support, followed by 140. On the upside, resistance is placed near 170, which coincides with the 161.8% Fibonacci extension of the prior swing, and further at 175. Corrective declines toward the average should be viewed as accumulation opportunities.Momentum indicators remain robust; although the RSI above 70 indicates an overbought condition, the broader trend is intact, and any temporary consolidation is likely to be constructive rather than trend-reversing.NykaaBuy in the range of 260-265

The stock is trading above its key moving averages and has established a base formation on the weekly timeframe, indicating improving price stability. The weekly chart reflects a higher high–higher low structure, confirming a strengthening trend.Immediate support is seen at 245, followed by 240, while short term resistance is placed near 275, with further upside potential toward 292. From a momentum perspective, ADX at 28 signals a strengthening trend, while the weekly RSI at 63 suggests bullish dominance.(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)

‘Saw SUV chasing my friends. They were killed in a road rage, it was no accident’ (AI image)

NOIDA: A friend of two youths found dead in front of Army Public School in Noida on Dec 30 told TOI they were chased by an SUV that hurtled into their bike at high speed, sending them flying into roadside railings and killing them on spot.“It was not a hit-and-run accident but a clear case of road rage,” Pushpendra told TOI on Thursday. The trigger, according to him, was an altercation at an eatery in Sector 30 where his friends Basant Khasu (23) and Rohan Mandal (27) had stopped for parathas on their way back from a party.Pushpendra, who was at the same party, said Basant and Rohan had an argument at the roadside eatery with another customer. Pushpendra subsequently went looking for them. “I saw the SUV hit their bike. The SUV did not have a number plate. It stopped for a few seconds, then took a U-turn and sped away. I tried to chase, but lost it in dense fog,” he claimed.Basant and Rohan were flung into the railings next to the school so hard that their bike got entangled in the grille. Their bodies were found next to the bike, indicating they had no opportunity to move and the impact likely immediately killed them. Pushpendra said they had left for Rohan’s cousin’s birthday party around 10pm on Tuesday from Basant’s house at Nithari. Basant was a hotel management student at an institute in Film City.“Around 11.15pm, Basant and Rohan stepped out to drop one of our friends, Roshan. Around 11.40pm, Vikas, who was at the party with us, called Rohan to ask where he was. Rohan told him about the argument. After that, Vikas and I started for the spot on my bike. But we could not find them at the eatery, nor were they answering their phones. I dropped Vikas at the Sector 37 gate, took a U-turn and went towards DPS school. Near Dent Star, I spotted Basant and Rohan driving their bike at high speed and a black SUV right behind them,” Pushpendra said.He felt the argument at the eatery had blown up into a road rage after Vikas and Rohan’s conversation. Puspendra said he followed the car but lost them at the next T-point after they took a right turn towards Army Public School. It was densely foggy that night. “When I was approaching Army Public School, I saw a bike stuck to the grille there. The SUV, probably a Scorpio N, was right there. It reversed and sped off,” he said. “When I went closer, I saw Basant and Rohan. They were bleeding.”Basant, a third-year hotel student, lived with his brother Dheeraj and mother Sonam. His father Hari works as a chef in Kenya. Rohan was a contract worker with the fire department. Both lived in Nithari.Pushpendra’s account of an argument was corroborated by Sonam, who told TOI on Thursday that Basant had called Dheeraj for help. “Basant had called me at 11.18pm to say he was on his way home. Everything seemed fine. I did not feel anything was amiss. Around 11.30pm, Basant called Dheeraj and said Rohan had got into a fight with some people and they needed help. Dheeraj thought his brother was joking, so did not take him seriously,” Sonam said.“They hit both the kids badly. We need justice. My son had so many plans for his life. He was eager to finish his degree and get a job. He also told me about all the places he wanted to visit. All his dreams have gone with him,” Sonam added. She said police had told them the death was an accident. “Later, when we challenged that theory, the cops agreed that it did not look like an accident.” Basant’s father Hari, who took a flight to Delhi, said, “He wanted to become a chef and open a hotel. He was a quick learner. We don’t know how we will live without him. We live in a high-tech city like Noida, but even after 48 hours, police have not been able to find the culprits. We will keep fighting for my justice for my son,” he said.Police said they had formed five teams to track down the SUV. “We are scanning CCTV footage of the area. The issue we are facing is that the SUV did not have a number plate. But our teams are working and we will get a breakthrough,” a senior officer said. An FIR has been filed under BNS sections for rash driving and causing death due to negligence. Rohan’s autopsy indicates ante-mortem head injuries. Basant’s family did not agree to an autopsy. “I believe the men in the SUV were the same people with whom my brother and his friend had an altercation. It’s a clear case of murder,” Dheeraj told TOI.

NEW DELHI: GST collections rose 6.1% to Rs 1,74,550 crore, driven by a surge in levies on imports. The numbers, that do not include compensation cess, which has been withdrawn for all goods barring tobacco and pan masala, provide confidence to govt that the mop up (for sales in Nov) has increased despite an overhaul of the tax regime, which saw rates slashed on 375 goods and services. In Dec 2024, including compensation cess, the overall collection was estimated at Rs 1,76,857 crore. Compared to that level, the collection in Dec 2025 was 1.1% higher at Rs 1,78,788 crore (including Rs 4,238 crore cess from tobacco and pan masala) – indicating that the tax cuts have boosted consumption. Govt had said that collections may be affected for a few months but will start rising as consumption picks up.

Staying strong

“Gross collection growth of 6.1% (Dec) and 8.6% on cumulative basis (Aril-Dec) indicates that consumption has certainly been on the upswing and the volume growth in many businesses is making up for the lower rates associated with these volumes. Healthy GDP data indicates that economic growth has increased and the lower (GST) rates are encouraging increased consumption in many sectors,” said M S Mani, partner at consulting firm Deloitte India. The numbers showed that collections from domestic sources in Dec 2025 were 1.2% higher at Rs 1,22,574 crore, while those from imports rose 19.7% to Rs 51,977 crore. “The current moderation in domestic GST collections growth aligns with expectations following govt’s GST rate rationalisation, a move prioritising long-term tax harmony over immediate gains,” said Saurabh Agarwal, tax partner at EY India. On a net basis, GST collections were 2.2% higher at Rs 1,45,570 crore as refunds shot up 31% to Rs 28,980 crore, especially on domestic collections. While restructuring GST, govt had also sought to harmonise refunds. Maharashtra, Uttarakhand, Gujarat, Haryana, Sikkim and Bihar reported healthy double-digit growth, while Chhattisgarh, Jharkhand and Odisha saw the sharpest decline.