Back home, Indian equity markets ended the year in the green, extending the Nifty’s winning streak to a tenth consecutive year. However, the gains masked relative underperformance versus global peers, as investors navigated domestic headwinds, a volatile rupee and global risk aversion. The Reserve Bank of India sought to reassure markets, reiterating in its latest Financial Stability Report that India’s financial system remains resilient despite elevated global uncertainty.
On the corporate and policy front, pressure points were visible across sectors. Vodafone Idea’s AGR dues continued to weigh on sentiment in the telecom space, while fresh tariffs on steel imports signalled the government’s intent to shield the domestic industry from cheap overseas shipments.
Meanwhile, defence manufacturing remained in focus, with Bharat Forge’s carbine contract highlighting India’s push toward indigenisation, even as labour unrest among gig workers tested the resilience of e-commerce and food delivery platforms.
As the calendar turns to 2026, the closing days of the year leave investors and policymakers weighing both reassurance and caution. From markets and currencies to policy decisions, corporate developments and global milestones, here are the top 10 stories that defined the final stretch of 2025.
Indian markets end 2025 in the green, but lag global peers
Indian equity markets closed 2025 with gains, extending the Nifty’s winning streak to a tenth consecutive year. However, despite the headline-positive return, the year will be remembered more for resilience than outperformance, as Indian equities lagged behind most global and emerging market peers amid a challenging mix of domestic and global headwinds.
Rupee rollercoaster: Why 2025 shook India’s currency and what 2026 holds
The Indian rupee experienced significant volatility against the US dollar throughout 2025, emerging as one of the weakest-performing Asian currencies. The partially convertible rupee depreciated nearly 5% against the dollar over the year, breaching the 90-mark multiple times in December and reaching a low of 91 on December 16.
Vodafone Idea AGR Dues: What next for the struggling telecom operator?
Shares of Vodafone Idea Ltd. are now down 10% on Wednesday, December 31. This comes after the company’s stock fell 16% from the highs of the day, ahead of the cabinet briefing at 3 PM.
Telcos seek govt action against Navi Mumbai Airport for barring telecom networks, Adani alleges ‘cartelisation’
Next time you are flying in or out of Navi Mumbai Airport, chances are that your mobile will not be able to connect to a network – Airtel, Jio or Vi – while at the terminal. The reason – a tussle between private telecommunication companies and the Adani run airport, who gets to provide telecom networks and its decided rates.
Indian financial system remains resilient despite global uncertainty: RBI
FILE PHOTO: A man walks past a logo of the Reserve Bank of India (RBI) and the Indian Rupee inside the RBI headquarters in Mumbai, India, December 6, 2024. REUTERS/Francis Mascarenhas/File Photo
The Reserve Bank of India (RBI) on Wednesday released the December 2025 edition of its Financial Stability Report (FSR), stating that the Indian financial system remains resilient and stable despite an uncertain global economic environment marked by elevated risks and market volatility.
India imposes a three-year tariff on some steel products to curb cheap imports
India has imposed a three-year import tariff of between 11% and 12% on some steel products, according to a finance ministry order published on Tuesday, as the government aims to curb cheap shipments from China.
Carbine contract marks next phase of Bharat Forge’s defence expansion, says CMD Baba Kalyani
Baba Kalyani, Chairman and Managing Director of Bharat Forge, said the company will receive 60% of the ₹2,770 crore order for 4.25 lakh close-quarter carbines awarded to domestic manufacturers, marking a key step in India’s push for indigenously developed defence equipment.
E-com, food delivery services largely unaffected by gig workers’ strike
A section of gig workers on Wednesday stopped work demanding better pay and work conditions but the agitation had little impact on services on e-commerce and online food delivery platforms that saw robust business on New Year Eve.
Former Bangladesh PM Khaleda Zia laid to rest in Dhaka amid massive crowds and state funeral
Dhaka witnessed a historic gathering on Wednesday, December 31, as former Prime Minister Khaleda Zia, who passed away at the age of 80 after a prolonged illness, was laid to rest. Thousands of mourners from across Bangladesh gathered outside the national parliament building, with many travelling overnight from rural areas to pay their respects, according to AP.
Warren Buffett retires after six decades: His top investment advice
The world’s best-known investor, Warren Buffett, is stepping down after six decades at the helm of Berkshire Hathaway, which he built into a vast conglomerate spanning insurance, utilities, rail and more. Along the way, Buffett became the most influential voice in investing, a legacy reflected in his timeless lessons on compounding and long-term value.
We’ll see you on Thursday with another engaging ‘Top 10@10’
