NextDC shares surge 43% as Goodman, Digital Realty buy stake

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• Inside India newsletter: India weighs a tax cut to win over foreign investors. Will it work?

  Finance Minister Nirmala Sitharaman has indicated she will consider requests from the market regulator and industry bodies to scrap the long-term capital gains tax raised in 2024. The policy review aims to halt massive outflows that have dragged the Nifty 50 down nearly 9% this year. However, analysts caution that addressing the levy may do little to overcome deeper structural drags like expensive valuations and corporate earnings weakness.

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• Interest rates expected to rise for first time in over three years

  Mounting inflationary pressures driven by high energy and fuel prices linked to conflict involving Iran are prompting central bank officials to act. The policy shift aims to counter price growth that remains well above target after six consecutive meetings of holding rates steady. This adjustment will increase borrowing expenses across the economy while delivering relief to savers.

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• Data center shares fall as investors expect slower AI buildout after Democrats win Congress; Hut 8 drops 23%, IREN 11%, Core Scientific 10%, Applied Digital 7% (Reuters)

  The market reaction reflects mounting investor unease over shifted timelines and potential headwinds for major infrastructure projects under newly established congressional leadership. The selloff underscores how closely valuations in the digital infrastructure sector are tied to uninhibited capital deployment for high-performance computing facilities. Consequently, major operators saw sharp downward adjustments across their equity values.

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