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NEWS U CAN USE
Apr 10, 2026
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The Week that was…
06th Apr to 10th Apr
2
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Indian Economy
•India’s Services Purchasing Managers’ Index (PMI) eased to 57.5 in Mar 2026 from 58.1 in
Feb 2026, indicating a slower but still robust expansion in the services sector. The
moderation was partly attributed to the impact of the Middle East conflict on domestic
demand.
•According to the Commerce Ministry data, India’s gold imports rose 28.7% YoY to USD 69
billion during Apr–Feb FY26, driven by elevated prices, which widened the trade deficit to
USD 310.6 billion, with Switzerland remaining the largest source of imports.
•The Monetary Policy Committee (MPC), in its first bi-monthly monetary policy review for
FY27, decided to keep the policy repo rate under the liquidity adjustment facility (LAF)
unchanged at 5.25%. Consequently, the standing deposit facility (SDF) rate remains at
5.00%, while the marginal standing facility (MSF) rate and the Bank Rate remain at 5.50%.
The MPC also decided to continue with the neutral stance.
•The RBI has projected CPI inflation at 4.6% in FY27, with quarterly readings of 4.0% in Q1,
4.4% in Q2, 5.2% in Q3, and 4.7% in Q4, based on the assumption of persistently elevated
energy prices amid West Asia tensions and possible El Niño conditions. Core inflation is
pegged at 4.4% for FY27 and is lower when precious metals are excluded, suggesting that
underlying inflationary pressures are likely to remain contained.
•The RBI has projected real GDP growth at 6.9% in FY27, with quarterly growth estimates
of 6.8% in Q1, 6.7% in Q2, 7.0% in Q3, and 7.2% in Q4.
3
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4
Domestic Equity Market Indices
Indices
10-Apr-26
1 Week Return
YTD Return
BSE Sensex
77,550.25 5.77% -9.00%
Nifty 50
24,050.60 5.89% -7.96%
BSE Mid
-Cap 44,566.43 7.64% -5.09%
BSE Small
-Cap 48,444.55 7.45% -5.98%
Source: Refinitiv Values as on Apr 10, 2026
•Domestic equity markets rebounded
after recording losses over the previous
six weeks, with benchmark indices BSE
Sensex and Nifty 50 rising by 5.77% and
5.89%, respectively.
•Domestic equity markets advanced on
improved global risk sentiment after
the U.S. and Iran announced a two-
week ceasefire. This development led
to a pullback in the dollar and a decline
in crude oil prices from recent highs,
easing concerns over potential supply
disruptions in the region’s critical
energy corridor and supporting
domestic equities.
•However, sentiment remained cautious
as reports of fresh Israeli strikes on
Lebanon raised concerns over the
durability of the fragile U.S.–Iran
ceasefire.
Ratios
BSE Sensex
Nifty 50
BSE Mid Cap
BSE Small
Cap
P/E
21.31 21.13 30.49 29.45
P/B
4.16 3.28 4.85 3.52
Dividend Yield
1.18 1.29 0.79 0.66
Source: NSE, BSE Values as on Apr 10, 2026
Indian Equity Market
NSE Advance/Decline Ratio
Date Advances
Declines
Advance/Decline Ratio
06-Apr-26 2,887 869 3.32
07-Apr-26 2,375 1,243 1.91
08-Apr-26 3,092 388 7.97
09-Apr-26 1,705 1,783 0.96
10-Apr-26 2,777 618 4.49
Source: NSE
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5
Sectoral Indices
Indices Last Returns (in %)
Closing 1-Wk 1-Mth
BSE Auto
58,714.39
10.30%
-0.80%
BSE Bankex
62,984.89 8.58% -1.63%
BSE CD
58,203.23 9.16% 1.58%
BSE CG
72,180.77 8.77% 3.04%
BSE FMCG
17,831.48 4.35% -1.97%
BSE HC
42,619.40 3.02% -2.91%
BSE IT
29,902.28 2.10% 2.69%
BSE Metal
40,765.04 7.80% 4.09%
BSE Oil & Gas
26,681.26 4.01% -2.01%
Source:BSE
Values as on Apr 10, 2026
•On the BSE sectoral front, BSE Realty surged
12.86% after the RBI’s Monetary Policy
Committee kept the benchmark repo rate
unchanged at 5.25% in its Apr 2026 meeting.
The pause provides interest rate stability, which
is supportive for the housing sector by
preserving affordability and enabling
developers and homebuyers to plan over the
long term. BSE Auto rallied 10.30% after crude
oil prices softened following the announcement
of a two-week ceasefire between the U.S. and
Iran, which helped ease concerns around
elevated fuel costs and inflationary pressures.
Indian Derivatives Market Review
•Nifty Apr 2026 Futures stood at 24,101.00, a premium of 50.40 points above the spot
closing of 24,050.60.
•The total turnover on NSE’s Futures and Options segment for the week stood at Rs.
1,167.98 lakh crore as against Rs. 802.81 lakh crore for the week to Apr 3.
•The Put-Call ratio stood at 0.87 compared with the previous week’s close of 0.81.
•The Nifty Put-Call ratio stood at 0.62 compared with the previous week’s close of 0.6.
Indian Equity Market (contd.)
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6.80
6.85
6.90
6.95
7.00
7.05
7.10
6-Apr 7-Apr 8-Apr 9-Apr 10-Apr
Yield in %
10 -Yr Benchmark Bond ( % )
Source: CCIL
6
Debt Indicators
(%)
Current
Value
1-
Wk
Ago
1-
Mth
Ago
6-
Mth
Ago
Call Rate
5.05 5.20 5.07 5.58
91 Day T
-Bill 5.30 5.40 5.33 5.44
06.36% 2031, (5 Yr GOI)
6.54 6.83 6.35 6.14
06.48% 2035, (10 Yr GOI)
6.91 7.13 6.67 6.46
Source: Refinitiv Values as on Apr 10, 2026
•Bond yields eased sharply following a
two-week truce between the U.S. and
Iran, while the RBI left its policy rate
unchanged at its Apr 2026 meeting and
maintained a neutral policy stance.
•Yield on the 10-year benchmark paper
(6.48% GS 2035) fell by 22 bps to close at
6.91% from the previous week’s close of
7.13%.
•Data from Reserve Bank of India showed
that India's foreign exchange reserves
increased to $697.12 billion for the week
ended Apr 03, 2026 compared with
$688.06 billion a week earlier.
Domestic Debt Market
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-47
-33
-19
-5
9
5.00
6.00
7.00
8.00
3 Mths 6 Mths 1 Yr 5 Yrs 10 Yrs 20 Yrs 30 Yrs
India Yield Curve Shift (%) (W-o-W)
Change in bps 10-Apr-26 02-Apr-26
Yield in %
Change in bps
Source: Refinitiv
7
Maturity G-
Sec Yield
(%)
Corporate Yield
(%)
Spread
bps
1 Year 5.83 7.41 158
3 Year 6.37 7.31 94
5 Year 6.53 7.43 90
10 Year 6.91 7.56 65
Source: Refinitiv Values as on Apr 10, 2026
•Yields on gilt fell between 22 to 53 bps across the
maturities.
•Corporate bond yields fell between 16 to 40 bps
across the curve.
•Difference in spread between AAA corporate bond
and gilt expanded between 4 to 13 bps across the
segments.
Domestic Debt Market (Spread Analysis)
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8
•The RBI has kept FPI investment limits unchanged for FY27, maintaining caps at 6% for
central government securities (G-secs), 2% for state government securities (SGSs), and 15%
for corporate bonds under the general route. The incremental G-sec limit continues to be
split 50:50 between General and Long-term categories, while the entire increase in SGS
limits is allocated to the General category. The RBI also set an additional overall debt
investment headroom of Rs. 3.30 lakh crore for FY27, capped CDS sales by FPIs at 5% of
outstanding corporate bonds, and aligned Voluntary Retention Route (VRR) investments
with General Route limits from Apr 1, 2026.
•The RBI governor stated that its recent restrictions on currency forward and non-deliverable
forward markets are temporary measures intended to contain excessive volatility and
speculative activity arising from geopolitical developments, and do not indicate any
structural change in its long-term policy of deepening forex markets and promoting the
internationalisation of the rupee.
•The Directorate General of Foreign Trade has issued a detailed procedure for allocating
import quotas of calcined petroleum coke (CPC) for use in the aluminium industry for FY27.
Import quantities for CPC and raw petroleum coke for CPC manufacturing will be allocated
based on recommendations of an Exim Facilitation Committee.
Regulatory Updates in India
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9
•Mutual fund distributors and other regulated financial intermediaries will be subject to
new disclosure norms effective May 1, 2026, requiring them to prominently display their
registered name and registration number across all communication and marketing
channels, including websites, social media, email signatures, business cards and
promotional material. Standardised, product-specific taglines (such as AMFI-registered
MFD, SIF distributor or PMS distributor) are required to improve transparency, consistency
and investor trust, making it necessary for distributors to update branding and disclosures
ahead of the deadline.
•India has eased rice export rules by waiving the mandatory inspection certificate for
basmati and non-basmati rice shipments to select European countries for six months. The
exemption applies to EU member states, the UK, Iceland, Liechtenstein, Norway, and
Switzerland, while other European countries are fully exempt. The move aims to facilitate
exports and reduce compliance costs, supporting smoother trade amid global supply chain
disruptions.
Regulatory Updates in India (contd..)
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•U.S. inflation climbed to 3.3% YoY in Mar 2026, up from 2.4% in Feb 2026, according to the
Department of Labor. On a monthly basis, the Consumer Price Index (CPI) rose 0.9%, in line
with forecasts, following a 0.3% increase in Feb. Core CPI, which excludes volatile food and
energy prices, increased by 0.2% MoM and 2.6% YoY.
•U.S. services PMI eased to 54.0 in Mar 2026 after jumping to 56.1 in Feb 2026, according to
the Institute for Supply Management.
•U.S. real gross domestic product growth for the fourth quarter of 2025 was downwardly
revised to 0.5% from the previously reported 0.7%, according to the Commerce
Department.
•The U.K. services Purchasing Managers’ Index declined to 50.5 in Mar 2026 from 53.9 in Feb
2026, based on survey results from S&P Global.
•Singapore’s Purchasing Managers’ Index declined to 56.7 in Mar 2026 from 59.2 in Feb
2026, according to survey data from S&P Global.
•Singapore’s retail sales surged 8.3% YoY in Feb 2026, rebounding from a 0.5% decline in
Jan 2026, data from the Department of Statistics showed.
•Japan’s leading index, which measures future economic activity, rose to 112.4 in Feb 2026
from 112.1 in Jan 2026, data from the Cabinet Office showed.
10
Global News/Economy
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11
Global Indices
Indices
10
-Apr-
26
1-Week
Return
YTD
Return
Russell 3000
3,516.10 3.89% -5.31%
Nasdaq 100
25,116.34 4.45% -0.53%
FTSE 100
10,600.53 1.57% 6.74%
DAX Index
23,803.95 2.74% -2.80%
Nikkei Average
56,924.11 7.15% 13.08%
Straits Times
4,989.41 0.85% 7.39%
Source: Refinitiv
Value as on Apr 10, 2026
U.S.
•U.S. equity markets rose as news of a
conditional U.S.–Iran ceasefire boosted
risk appetite. Broad based gains were
supported by easing geopolitical
concerns and lower energy prices,
although investors remained cautious
amid uncertainty surrounding
negotiations and upcoming inflation and
labor market data.
Europe
•European equity markets advanced after a U.S.–Iran ceasefire agreement improved
investor sentiment. Falling oil prices and softer bond yields supported broad based gains,
with cyclical sectors leading. Additionally, stocks were supported by hopes that upcoming
diplomatic talks between the U.S. and Iran this weekend will yield a positive outcome.
Asia
•Asian equity markets mostly rose after the U.S. and Iran agreed to a conditional two week
ceasefire, during which shipping traffic will be permitted through the Strait of Hormuz. Oil
prices plunged as the last minute agreement eased fears of an immediate supply shock.
Global Equity Markets
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4.26
4.28
4.30
4.32
4.34
4.36
6-Apr 7-Apr 8-Apr 9-Apr 10-Apr
Yield in %
US 10-Year Treasury Yield Movement
Source: Refinitiv
12
•Yields on the 10-year U.S. Treasury fell
by 3 bps to close at 4.32% from the
previous week’s close of 4.35%.
•U.S. Treasury prices rose after a two
week ceasefire between the U.S. and
Iran sent oil prices sharply lower and
revived expectations of Federal Reserve
interest rate cuts later this year.
•Gains, however, were limited after an
inflation reading showed a surge in
prices that was in line with expectations,
while investors awaited peace talks
between the U.S. and Iran scheduled for
the weekend.
Global Debt (U.S.)
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6.00
8.00
10.00
12.00
14.00
16.00
10-Mar-26 26-Mar-26
Global Commodity Movement
Gold Spot ($/Oz) Silver Spot ($/Oz) Brent ($/bbl)
Global Commodity Prices
Rebased to 10
Source: Refinitiv
13
Performance of various commodities
Commodities
Last Closing*
1-Week Ago
Brent Crude($/Barrel)
136.92 136.63
Gold ($/Oz)
4,747.49 4,675.67
Gold (Rs/10 gm)
149,646 146,091
Silver ($/Oz)
75.88 72.99
Silver (Rs/Kg)
239,775 227,633
Source: Refinitiv Value as
on Apr 10,
2026
Gold
•Gold prices rose as the clock ticked toward
a deadline set by the U.S. president to carry
out strikes on Iranian power plants if the
Strait of Hormuz is not reopened. Prices
were further supported as investors
monitored developments around a
potential U.S.–Iran ceasefire and awaited
key U.S. inflation data.
Brent Crude
•Brent crude oil prices advanced after Iran
rejected proposals for a temporary
ceasefire, while the U.S. president
expanded his threats to include strikes on
all Iranian power plants and bridges ahead
of a Tuesday night deadline.
Baltic Dry Index
•The index rose over the week due to
improved capesize and panamax activities.
Commodities Market
05-Jan-24
10-Apr-26
0.21%
1.54%
3.95%
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9.50
9.75
10.00
10.25
10.50
10-Mar-26 26-Mar-26
USD GBP Euro JPY
Source: Refinitiv
Currency Prices ( in terms of INR)
Rebased to 10
Currency Movement
14
Movement of Rupee vs Other Currencies
Currency
Last Closing*
1-Wk Ago
US Dollar
92.65 93.21
Pound Sterling
124.31 123.19
EURO
108.28 107.48
100 Yen
58.16 58.49
Source: Refinitiv Figures in INR , *Value as on Apr
10, 2026
Rupee
•The Indian rupee rose against the U.S. dollar,
supported by spillover effects from the Reserve
Bank of India’s (RBI) recent policy actions.
Euro
•The euro strengthened against the U.S. dollar as
the U.S.–Iran ceasefire triggered a risk-on shift
in global markets.
Pound
•The British pound rose against the U.S. dollar as
investors closely monitored developments
surrounding the U.S.–Iran ceasefire.
Yen
•The Japanese yen strengthened against the U.S.
dollar as investors closely followed
developments related to the U.S.–Iran
ceasefire.
Currencies Markets
25-Jan-24
10-Apr-26
-0.60%
-0.56%
0.74%
0.91%
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15
The Week that was…
06th Apr to 10th Apr
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16
The Week that was (Apr 06 – Apr 10)
Date Events
Present
Value
Previous
Value
Monday,
April 06, 2026
• India HSBC Composite PMI Final MAR
57.00 58.90
• India HSBC Services PMI Final MAR
57.50 58.10
• U.S. ISM Services PMI (Mar)
54.00 56.10
Tuesday,
April 07, 2026
• Eurozone HCOB Composite PMI (Mar)
50.70 50.50
• U.S. Durable Goods Orders (Feb)
-1.40% -0.50%
• U.S. Redbook Index (YoY)
7.60% 0.08
Wednesday,
April 08, 2026
• Reserve Bank of India Interest Rate Decision
5.25% 5.25%
• Eurozone Producer Price Index (YoY) (Feb)
-3.00% -2.00%
• Eurozone Retail Sales (YoY) (Feb)
1.70% 2.10%
Thursday,
April 09, 2026
• U.S. Core Personal Consumption Expenditures
- Price Index (MoM) (Feb) 0.40% 0.40%
• U.S. Personal Spending (Feb)
0.50% 0.30%
Friday,
April 10, 2026
• China Consumer Price Index (YoY) (Mar)
1.00% 1.30%
• Germany Consumer Price Index (MoM) (Mar)
1.10% 1.10%
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17
The Week Ahead
13th Apr to 17th Apr
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18
The Week Ahead
Day Event
Monday,
Apr 13, 2026
•
U.S. Existing Home Sales Change (MoM) (Mar)
•
U.S. 3-Month Bill Auction
Tuesday,
Apr 14, 2026
•
India WPI Inflation YoY MAR
•
China Trade Balance USD (Mar)
•
U.S. Producer Price Index (YoY) (Mar)
Wednesday,
Apr 15, 2026
•
India Inflation Rate YoY MAR
•
India Balance of Trade MAR
•
Eurozone Industrial Production (MoM) (Feb)
Thursday,
Apr 16, 2026
•
U.K. Gross Domestic Product (MoM) (Feb)
•
China Retail Sales (YoY) (Mar)
•
U.S. Initial Jobless Claims
Friday,
Apr 17, 2026
•
Eurozone Trade Balance (Feb)
•
Eurozone Current Account (Feb)
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The information herein is meant only for general reading purposes and contains all factual and statistical information pertaining to Industry and
markets which have been obtained from independent third party sources and which are deemed to be reliable. The information provided cannot be
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19
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