Mumbai: Financials remained at the centre of foreign selling in Indian equities with investors extending withdrawals into the fourth straight fortnight in the second half of April, as the sector’s heavy weight left it exposed to their risk aversion.

The sector saw outflows worth ₹11,704 crore in the second half of the month, after selling of ₹19,152 crore in the first half of April, according to data from NSDL. The pace of selling moderated compared to March, when they divested worth over ₹60,000 crore -the highest since 2012.

“The unabated sell-off in banking stocks is due to the sector’s high weightage in benchmark Nifty and concerns of higher inflation that could increase current account deficit,” said Sonam Srivastava, f0ounder and CEO, Wright Research.

The withdrawals from financials accounted for over 41% of the overs0eas investor selling worth ₹28,301 crore across 15 sectors in the second half of April.

In the first part of the month, they dumped shares worth ₹49,481 crore across 19 sectors.

Other than financials, oil and gas, information technology and healthcare were among the sectors that bore the brunt of foreign selling.
These investors deployed funds worth ₹15,592 crore across eight sectors in the second half of April, with about 60% of the investments led by the power and capital goods sectors. Both sectors witnessed purchases worth over ₹4,500 crore each in the period.Foreign investors bought shares worth ₹601 crore in the power sector in the first half of April, and while capital goods saw selling worth ₹328 crore during this period, the sector attracted inflows worth ₹3,148 crore in March- at the peak of the sell-off this year.

“Power demand has seen a strong global upswing, driven partly by rising investments in AI, which require large-scale data centres and reliable power infrastructure,” said Saurabh Patwa, head of equities and portfolio manager at Quest Investment Managers. “Power transmission and distribution companies are witnessing record-high order inflows and have performed well on the back of this strong demand environment.”

During periods of war, inflation and heightened uncertainty, investors often gravitate towards physical assets, which makes capital goods companies relatively well placed, he said.

Oil prices climbed more than 1%, snapping a three-day losing streak on Friday, after fresh clashes between the U.S. and Iran raised concerns over the stability of the fragile ceasefire and weakened hopes of progress toward reopening the Strait of Hormuz, a crucial route for global oil and gas shipments.

The latest rise followed Iran’s accusation that the U.S. breached the month-long ceasefire. Washington, meanwhile, said its actions were retaliatory after Iranian forces fired on U.S. naval vessels passing through the strait on Thursday.

Oil price on May 8

Brent crude futures rose $1.41, or 1.41%, to $101.47 a barrel by 0123 GMT, while U.S. West Texas Intermediate (WTI) crude gained $1.12, or 1.18%, to $95.93 a barrel. Prices had initially surged more than 3% at the open.The rebound came after three straight sessions of losses driven by reports earlier this week that Washington and Tehran were nearing an agreement to halt hostilities and fully reopen the Strait of Hormuz. The proposed deal, however, was expected to leave broader disputes over Iran’s nuclear programme unresolved. Despite Friday’s gains, both crude benchmarks are still on track to end the week around 6% lower.

Iran’s military claimed the U.S. targeted an Iranian oil tanker, another vessel, and civilian areas both in the strait and on the mainland.
In a post on Truth Social, Trump said U.S. forces had destroyed the Iranian targets involved in the confrontation, including small boats and drones. He also warned Iran of further military action if it failed to reach a nuclear agreement.
The exchange came as the U.S. awaited Tehran’s response to its latest peace proposal, which did not address several key sticking points, including Washington’s demand to reopen the strait. Before the conflict erupted on February 28, the Strait of Hormuz handled roughly one-fifth of the world’s oil and gas supply, but traffic has remained largely disrupted since fighting involving Iran, the U.S., and Israel intensified.
Analysts said the market remains on edge. Haitong Futures noted that the ceasefire may only be temporary, adding that stalled negotiations between the U.S. and Iran could spark renewed escalation and drive oil prices even higher.

Nuvama Institutional Equities said a prolonged closure of the Strait of Hormuz could disrupt nearly 20 million barrels per day of crude flows. Under such a scenario, oil prices could potentially surge to between $110 and $150 per barrel.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

LOS ANGELES — YouTube star, wrestler and outspoken collector Logan Paul has made headlines once again after spending a record $550,000 on an ultra-rare graded copy of Dragon Ball Chapter One, along with a highly sought-after first chapter of One Piece, marking his bold entry into the premium manga collecting scene.

Paul announced the purchases on X (formerly Twitter) in late April 2026, describing the acquisitions as the start of “the Manga journey.” The headline-grabbing deal includes the highest-graded known copy of Dragon Ball‘s debut issue from Weekly Shonen Jump and a near-top copy of One Piece‘s first chapter, instantly elevating his status among serious Japanese comic collectors.

The Dragon Ball issue, graded a pristine 9.2 by industry standards and the only known example at that level (pop 1), features the first appearance of Goku and Bulma. Paul paid a reported record $550,000 for it alone. The One Piece Chapter One, graded 9.0 and one of only three known at that level (pop 3), marks the canon debut of Monkey D. Luffy and comes from the world’s best-selling manga series, with over 600 million copies sold globally.

A New Chapter in Paul’s Collecting Empire

Paul, already famous for multimillion-dollar Pokémon card purchases and other high-profile memorabilia, shared photos of the vintage Weekly Shonen Jump magazines. He purchased the pair in partnership with longtime friend and collecting mentor Jeremy Padawer. “Proud owner of the greatest Mangas in the world (imo),” he wrote, emphasizing the cultural impact of both series.

The move reflects growing mainstream interest in Japanese manga as valuable alternative assets. Graded first appearances of iconic titles have seen surging demand in recent years, similar to the comic book boom of the 1990s and early 2020s. Paul positioned the buys as smart long-term investments in franchises that spawned global anime empires, video games and merchandise empires.

Fan Reactions Split Between Admiration and Backlash

The announcement triggered intense online debate. Many collectors praised Paul for bringing visibility to manga as a serious collectible category and for preserving rare pieces of pop culture history. Others criticized the high-profile spending, with some anime fans accusing him of market manipulation or gatekeeping concerns. Fellow streamer IShowSpeed publicly slammed the purchase, while others questioned whether Paul truly appreciates the source material.

Paul later responded by stating that “anime fans aren’t gatekeepers,” defending his right to collect and enjoy the medium. The controversy only amplified attention, with clips of his announcement racking up millions of views across platforms.

Market Context and Rising Manga Values

Manga collecting, particularly graded Weekly Shonen Jump issues featuring debut chapters, has gained traction among Western investors. The scarcity of high-grade early issues from the 1980s and 1990s, combined with enduring global popularity of titles like Dragon Ball and One Piece, has driven prices higher. Paul’s $550,000 Dragon Ball purchase sets a new benchmark, likely influencing future auction results.

Experts note that condition is everything in this niche market. A 9.2 grade on a 40-year-old magazine is exceptionally rare due to paper quality, printing variations and decades of handling. Professional grading services have helped legitimize the category, much like they did for American comics.

Paul’s move comes amid broader trends in alternative investments. As traditional stocks and crypto fluctuate, high-net-worth individuals are turning to tangible assets with cultural significance. His portfolio already includes dinosaur fossils, luxury watches and blue-chip trading cards.

Paul’s Growing Influence in Pop Culture

The 30-year-old content creator has evolved from controversial YouTube prankster to a multifaceted entertainer with a WWE career, boxing bouts and business ventures. His collecting habits often make news, whether acquiring a $5 million Pokémon card or now historic manga issues. Supporters see him as a passionate enthusiast helping preserve pop culture artifacts, while detractors view the spending as tone-deaf amid economic pressures faced by average fans.

In his announcement, Paul highlighted the journey from manga pages to global phenomena, noting how Dragon Ball and One Piece inspired countless anime, films and merchandise lines. He teased further acquisitions, suggesting this is only the beginning of a deeper dive into Japanese comics.

What’s Next for Paul’s Manga Collection

Paul has not disclosed plans for displaying or preserving the items, though high-value collectibles like these are typically stored in climate-controlled environments or museum-grade cases. Some collectors worry about potential damage or resale speculation, but Paul has a track record of holding onto major pieces long-term.

The purchases could inspire more mainstream attention to manga collecting, potentially increasing values across the board while also drawing regulatory or community scrutiny over accessibility. For now, Paul appears focused on celebrating the win and expanding his holdings.

As one of the most visible figures in modern collecting culture, Logan Paul’s $550,000 manga splash underscores the growing financial and cultural cachet of Japanese sequential art. Whether viewed as savvy investment, passionate fandom or flashy flex, the deal has undeniably put rare manga on the radar of a whole new audience — and set a lofty new price ceiling for future landmark sales.

Mumbai: Nifty midcap indices made fresh all-time highs Thursday, putting the spotlight back on the market’s traditionally favourite high-growth segment that’s now being driven by strong earnings, consistent monthly retail commitments, and some bargain buying. Still, the pace of the current rally has prompted veteran fund managers to offer the customary cautionary advice: Odds on a breather now are rather short.

Foreign Selling in Large-caps
The Nifty Midcap 100 index ended at 62,003.15 Thursday, up 1.1%. It had made an intraday high of 62,094.40. The Nifty 50 ended flat at 24,326.65 levels.

From the announcement of the ceasefire in the US-Iran conflict a month ago, the Midcap 100 index is up 13.6%, and the Nifty Smallcap 250 has gained 16.8%, outperforming the Nifty and Sensex, which have advanced 5.2% and 4.3%, respectively.

“We have seen relatively stronger earnings from select mid and smallcap pockets, particularly in financials and consumer-driven sectors, which has supported outperformance in the segment,” said Ramesh Mantri, chief investment officer at WhiteOak Capital AMC.

Local investors have taken to stocks beyond the frontliners.
“While large-caps continue to face pressure from sustained FII selling, resilient domestic mutual fund inflows, especially into midcap, smallcap, multicap and flexicap schemes, have helped cushion the broader segment from sharper declines,” Mantri said.
Foreign investors have offloaded shares worth a record ₹2.14 lakh crore in 2026.
“Midcaps had turned oversold during the peak of the geopolitical conflict despite an estimated 15% earnings growth outlook for FY27, which led to renewed buying interest in the segment,” said Manish Bhandari, chief executive and portfolio manager, Vallum Capital.

He said that even in the past, periods of sharp crude price spikes or about 10-12% rupee depreciation have generally been followed by positive one-year forward returns.

On the technical charts, midcaps are showing strength after many months of consolidations.

Nilesh Jain, head of technical and derivatives research, Centrum Finverse said the midcap indices have delivered a multi-year breakout after nearly 18 months of consolidation following the September 2024 market peak.

“Since the start of the year, the Midcap 100 index had been testing previous highs and has now decisively moved above them,” he said. Technically, the index is trading above all key short and long term moving averages, indicating a positive trend. In the near term, the index could move towards 62,800-63,500.”

Operator

Good morning. We would like to welcome everyone to Canadian Natural’s 2026 First Quarter Earnings Conference Call and Webcast. [Operator Instructions] Please note that this call is being recorded today, May 7, 2026, at 7:00 a.m. Mountain Time. I would now like to turn the meeting over to your host for today’s call, Lance Casson, Manager of Investor Relations. Please go ahead.

Lance Casson
Manager of Investor Relations

Good morning, everyone, and thank you for joining Canadian Natural’s 2026 First Quarter Results Conference Call.

Before we begin, I’d like to remind you of our forward-looking statements, and it should be noted that in our reporting disclosures, everything is in Canadian dollars, unless otherwise stated, and we report our reserves and production before royalties. Also, I suggest you review the advisory section in our financial statements that include comments on non-GAAP disclosures.

Speaking on today’s call will be Scott Stauth, our President; and Victor Darel, our Chief Financial Officer. Additionally in the room with us this morning is Robin Zabek, COO of E&P; and Jay Froc, COO of Oil Sands. Scott will first run through our operational highlights that once again includes production records in the quarter. Victor will then summarize our strong financial results and our significant returns to shareholders year-to-date that includes an

LAS VEGAS — No Doubt kicked off its highly anticipated “Live at Sphere” residency on May 6, 2026, delivering a high-energy 21-song set that blended massive hits, deep cuts and emotional tributes inside the groundbreaking Las Vegas venue known for its immersive 16K LED dome.

Fronted by Gwen Stefani with original members Tony Kanal, Tom Dumont and Adrian Young, the band celebrated the 30th anniversary of its breakthrough album Tragic Kingdom while showcasing the Sphere’s revolutionary technology through synchronized visuals, pyrotechnics and 360-degree sound design. The opening-night performance marked No Doubt’s first extended Las Vegas run and their most significant live outing in over a decade.

Full No Doubt Sphere Opener Set List (May 6, 2026)

1. Tragic Kingdom (first time performed since 2009)
2. Excuse Me Mr.
3. Different People
4. Total Hate ’95
5. Spiderwebs
6. Underneath It All
7. Hey Baby
8. Bathwater
9. Ex-Girlfriend
10. Happy Now?
11. Hella Good
12. The Climb (first time since 1997)
13. Running (first time since 2012)
14. It’s My Life (Talk Talk cover)
15. Simple Kind of Life
16. Don’t Speak
17. Trapped in a Box
18. New
19. End It On This
20. Just a Girl
21. Sunday Morning

The band opened with the title track from Tragic Kingdom, immediately immersing the crowd in ska-punk nostalgia. Stefani, energetic in a custom red-and-black ensemble, commanded the stage as the Sphere’s dome transformed with animated visuals of palm trees, California sunsets and cartoonish animations nodding to the band’s early days.

Mid-set highlights included a powerful run through Return of Saturn and Rock Steady material. “Don’t Speak” brought the house down with its signature emotional delivery, while “Just a Girl” sparked a massive sing-along. The inclusion of rarer tracks like “The Climb” and “Running” delighted longtime fans, marking their first performances in decades.

Production and Sphere Immersion

The Sphere’s technology elevated the show to new heights. During “Spiderwebs,” the dome displayed intricate web patterns that appeared to wrap around the audience. “Hella Good” featured pulsating bass visuals and crowd-interactive light effects. The sound system delivered crystal-clear ska horns and Stefani’s unmistakable vocals across every seat.

No opening act was used. The band played straight through with minimal breaks, maintaining high energy for nearly two hours. Stefani frequently interacted with the crowd, expressing gratitude for the warm reception after years away from the stage as a full band.

Fan and Critical Reaction

Social media erupted immediately after the show. Fans praised the set list balance of hits and deep cuts, with many calling it one of No Doubt’s strongest live performances. Clips of “Don’t Speak” and “Just a Girl” went viral, amassing millions of views within hours. Critics noted the emotional weight of the anniversary celebration and Stefani’s commanding stage presence at age 56.

Some fans expressed disappointment over missing tracks like “Push and Shove” or “Settle Down,” but the overall consensus hailed the show as a triumphant return. Ticket demand has surged for remaining dates through June 13.

Residency Context and Significance

The 12-show run (with additional dates added due to demand) celebrates Tragic Kingdom‘s diamond-certified legacy while showcasing the band’s evolution. It marks No Doubt’s first major live activity since their 2012 reunion shows and Stefani’s solo tours.

Band members had teased favorite tracks in pre-show interviews. Stefani highlighted “Spiderwebs,” Young mentioned “Happy Now?,” Kanal pointed to “New,” and Dumont favored “Simple Kind of Life.” Most of their wishes appeared in the opening-night set.

What to Expect at Future Shows

While the core set list is expected to remain largely consistent, the band has hinted at possible rotations and surprises across the residency. Future nights may feature different deep cuts or guest appearances. The Sphere’s flexible production capabilities allow for evolving visuals tailored to each performance.

For fans attending upcoming shows, the set delivers a comprehensive journey through No Doubt’s catalog — from early ska-punk roots to mainstream pop-punk anthems. The combination of nostalgia, high production values and the band’s undeniable chemistry makes this residency a must-see event in 2026’s concert calendar.

As No Doubt continues its Sphere run, the opening-night set list stands as a celebration of resilience, reunion and the enduring power of songs that defined a generation. Whether you’re a longtime fan or discovering the band through this residency, the experience inside the Sphere promises an unforgettable night of music, memories and groundbreaking visuals.

Multiple snack mix products — including a Target-sold item — are being voluntarily recalled over potential salmonella contamination, federal health officials said.

John B. Sanfilippo & Son, Inc. is recalling several products sold under its Fisher, Squirrel Brand and Southern Style Nuts labels, as well as a Good & Gather snack mix distributed by Target, according to a Tuesday announcement from the U.S. Food and Drug Administration (FDA).

The recall is linked to a seasoning ingredient from a third-party supplier that may have contained contaminated dry milk powder. That ingredient had previously been recalled by California Dairies, Inc.

BABY FORMULA RECALLED AFTER TOXIN DETECTED AS OFFICIALS WARN PARENTS

“The affected seasoning batches tested negative for salmonella prior to use; however, the company is taking this action as a precautionary measure because of the potential that these products may contain the presence of Salmonella,” the FDA said.

The recalled items include several varieties of trail mix, such as Tex Mex Trail Mix, Gourmet Hunter Mix, Hunter Mix, Travelers Mix and Town & Country Mix, with “best by” dates extending into 2027. 

A Good & Gather Mexican Street Corn Trail Mix sold at Target is also included.

POPULAR POTATO CHIPS RECALLED DUE TO SALMONELLA FEARS

No illnesses have been reported so far.

Consumers are urged not to eat the products and should return them to the place of purchase for a refund or replacement.

“Salmonella can cause serious and sometimes fatal infections in young children, frail or elderly people and others with weakened immune systems,” the FDA warns. 

FROZEN PIZZA SOLD AT WALMART, ALDI RECALLED OVER SALMONELLA CONCERNS

Symptoms typically include fever, diarrhea, nausea, vomiting and abdominal pain. In rare cases, the infection can spread to the bloodstream and lead to more severe complications.

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For a full list of all the recalled products, visit the FDA’s website.

The announcement comes just days after the FDA said that Utz Quality Foods is recalling certain Zapp’s and Dirty brand potato chips that were sold at retail stores nationwide over salmonella concerns.

John B. Sanfilippo & Son, Inc. could not immediately be reached by FOX Business for comment.
 

Asian stocks pulled back from a record high and crude oil rose as escalating tensions in the Middle East revived concerns over energy supplies, testing the durability of the recent equity rally.

The MSCI Asia Pacific Index fell 0.9% at the open, following clashes between the US and Iran. US stock-index futures erased their losses from the open and traded flat.

Brent crude jumped 2.3% to over $102 a barrel on concerns the Middle East crisis will prolong the closure of the key Strait of Hormuz. The dollar strengthened and the 10-year Treasury yield held gains from the previous session as the outlook for a deal to end the 10-week war worsened.

American forces responded to Iranian attacks on Navy destroyers as they were sailing in the Strait of Hormuz on Thursday, US Central Command said. “Just like we knocked them out again today, we’ll knock them out a lot harder, and a lot more violently, in the future, if they don’t get their Deal signed, FAST!” President Donald Trump said in a social media post. Trump described the action a “love tap” in a telephone interview with ABC News, and said that the ceasefire with Iran was still “in effect.”

While stocks signaled a modest weakness on Friday, traders have at times looked past geopolitical headlines, helping drive equities to record highs amid a revival in the artificial intelligence trade. Even with bouts of volatility, investors continue to focus on signs that the US is seeking to de-escalate the situation.

“Investors are now assuming some resolution in the next month or so in terms of the Iran war or Strait of Hormuz,” said Jun Bei Liu, co-founder of hedge fund Ten Cap Investment Management. “Near term, there might be volatility, news headlines like today, but the market will move to buy the dip unless a new flare up becomes severe.”
The US is looking to restart the initiative to guide stranded ships through Hormuz that it had paused earlier this week, the Wall Street Journal reported. The plan, which Trump dubbed “Project Freedom,” had resulted in clashes with Iran and missiles fired at the United Arab Emirates.Washington is waiting on Tehran to respond to its proposal to reopen the strait, with tensions still high in both the Persian Gulf and in Lebanon. An Iranian official said the nation wouldn’t allow a reopening with “an unrealistic plan,” the Wall Street Journal reported, citing Press TV.

“Across equity markets, the pace of gains has indeed been quite rapid with limited drivers, so when negative news emerges, markets are vulnerable to profit taking,” said Yugo Tsuboi, chief strategist at Daiwa Securities Co. “I don’t believe the optimism about reaching an agreement that built up over the past week will completely disappear after this.”

Elsewhere, Trump’s 10% global tariffs were declared unlawful by a federal trade court in a fresh blow to the administration’s economic agenda in the latest setback for the president’s effort to levy tariffs without input from Congress.

While the fall in stocks indicated that Asian trading week would end on a downbeat note, the previous four sessions saw regional equities repeatedly climb to record highs. South Korea’s Kospi Index has jumped 11% this week, extending its advance this year to 74%.

The Kospi is the world’s best-performing gauge in 2026 as traders bet the country’s corporations will boost earnings as the key suppliers to the artificial intelligence buildout.

“Once again, the news flow on the geopolitical front has shown that the path towards a lasting agreement is anything but linear,” wrote Chris Weston, head of research at Pepperstone Group. “Traders have had to rethink the assumptions on the trajectory of the conflict and the normalization of vessel flows through Hormuz that had been made over the last couple of sessions.”

On the economic front, initial jobless claims rebounded slightly after falling in the previous week to near the lowest levels in decades, signaling layoffs remain muted. Friday’s jobs reading is expected to show the first back-to-back monthly increases in payrolls in almost a year.