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NEWS U CAN USE
Apr 24, 2026
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The Week that was…
20th Apr to 24th Apr
2
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Indian Economy
•According to the provisional figures released by the Marine Products Export Development
Authority, India’s marine product exports surged to an all-time high of Rs. 72,325 crore in
FY26, driven largely by robust shrimp shipments and wider market diversification, despite
global trade disruptions and weaker exports to the U.S.
•According to the United Nations Economic and Social Commission for Asia and the Pacific
report, India’s economy is projected to grow by 6.4% in 2026 and 6.6% in 2027, driven by
strong consumption and a resilient services sector, despite global trade and geopolitical
headwinds.
•According to Petroleum Planning and Analysis Cell data, India’s crude oil import bill
declined by around 5% YoY to USD 11.7 billion in Mar 2026, as a sharp fall in crude import
volumes from West Asia more than offset the impact of elevated global crude prices.
•According to the commerce ministry data, India’s agricultural exports increased by 2.8%
YoY to USD 52.55 billion in FY26, driven by higher shipments of rice, meat, and processed
food products.
•According to the RBI, credit flows through formal channels surged 38% YoY in FY26,
supported by policy rate cuts and liquidity infusion that revived borrowing demand, with
total credit expansion rising to Rs. 44.6 lakh crore.
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4
Domestic Equity Market Indices
Indices
24-Apr-26
1 Week Return
YTD Return
BSE Sensex
76,664.21 -2.33% -10.04%
Nifty 50
23,897.95 -1.87% -8.54%
BSE Mid
-Cap 45,953.59 -0.37% -2.13%
BSE Small
-Cap 50,665.49 -0.26% -1.67%
Source: Refinitiv Values as on Apr 24, 2026
•Domestic equity markets declined after
two consecutive weeks of gains, with
benchmark indices BSE Sensex and
Nifty 50 falling 2.33% and 1.87%,
respectively.
•Domestic equity markets declined,
pressured by an uptick in crude oil
prices amid stalled U.S.–Iran peace
talks. Higher oil prices reignited
concerns over inflation, interest rates,
and the outlook for economic growth.
Geopolitical tensions escalated after
Iran asserted its tightened control over
the strategically important Strait, while
the U.S. President stated that the Navy
had been ordered to “shoot and kill any
boat” attempting to lay mines in the
region.
Ratios
BSE Sensex
Nifty 50
BSE Mid Cap
BSE Small
Cap
P/E
20.98 20.85 31.43 30.81
P/B
4.11 3.26 5.00 3.72
Dividend Yield
1.22 1.32 0.77 0.63
Source: NSE, BSE Values as on Apr 24, 2026
Indian Equity Market
NSE Advance/Decline Ratio
Date Advances
Declines
Advance/Decline Ratio
20-Apr-26 1,454 2,095 0.69
21-Apr-26 2,204 1,323 1.67
22-Apr-26 2,010 1,431 1.40
23-Apr-26 1,309 2,169 0.60
24-Apr-26 997 2,593 0.38
Source: NSE
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5
Sectoral Indices
Indices Last Returns (in %)
Closing 1-Wk 1-Mth
BSE Auto
56,681.68 -3.02% 4.59%
BSE Bankex
63,188.31 -0.83% 6.70%
BSE CD
59,083.00 -2.07% 10.76%
BSE CG
77,089.06 1.28% 17.00%
BSE FMCG
18,763.84 2.07% 9.84%
BSE HC
43,616.92 0.30% 4.15%
BSE IT
27,648.74 -9.93% -3.16%
BSE Metal
41,927.49 -1.15% 14.74%
BSE Oil & Gas
27,038.25 -0.39% 5.64%
Source:BSE
Values as on Apr 24, 2026
•On the BSE sectoral front, BSE IT plunged
9.93% as the information technology sector
came under sharp pressure due to weak
management guidance, soft deal momentum,
and rising global uncertainty. The weakness
spread across the sector, with most frontline IT
stocks declining amid signs of slower global
tech spending, delayed client decision-making,
and pricing pressure from increased adoption of
artificial intelligence. BSE Power rose 3.69% as
investors focused on the earnings resilience
expected from strong capacity additions, even
as electricity demand growth moderated.
Indian Derivatives Market Review
•Nifty Apr 2026 Futures stood at 23,922.80, a premium of 24.85 points above the spot
closing of 23,897.95.
•The total turnover on NSE’s Futures and Options segment for the week stood at Rs.
1,053.63 lakh crore as against Rs. 861.62 lakh crore for the week to Apr 17.
•The Put-Call ratio stood at 0.95 compared with the previous week’s close of 0.8.
•The Nifty Put-Call ratio stood at 0.64 compared with the previous week’s close of 0.69.
Indian Equity Market (contd.)
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6.86
6.88
6.90
6.92
6.94
6.96
20-Apr 21-Apr 22-Apr 23-Apr 24-Apr
Yield in %
10 -Yr Benchmark Bond ( % )
Source: CCIL
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Debt Indicators
(%)
Current
Value
1-
Wk
Ago
1-
Mth
Ago
6-
Mth
Ago
Call Rate
5.11 5.11 5.32 5.58
91 Day T
-Bill 5.24 5.19 5.37 5.48
06.36% 2031, (5 Yr GOI)
6.67 6.58 6.58 6.15
06.48% 2035, (10 Yr GOI)
6.94 6.91 6.87 6.46
Source: Refinitiv Values as on Apr 24, 2026
•Bond yields edged higher as crude oil
prices rose on an indefinitely extended
U.S.–Iran ceasefire, intensifying pressure
on India’s macroeconomic outlook.
•Yield on the 10-year benchmark paper
(6.48% GS 2035) rose by 3 bps to close at
6.94% from the previous week’s close of
6.91%.
•Data from Reserve Bank of India showed
that India's foreign exchange reserves
increased to $703.31 billion for the week
ended Apr 17, 2026 compared with
$700.95 billion a week earlier.
Domestic Debt Market
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1
9
17
25
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 24-Apr-26 17-Apr-26
Yield in %
Change in bps
Source: Refinitiv
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Maturity G-
Sec Yield
(%)
Corporate Yield
(%)
Spread
bps
1 Year 5.76 7.49 173
3 Year 6.39 7.36 97
5 Year 6.68 7.44 76
10 Year 6.94 7.75 81
Source: Refinitiv Values as on Apr 24, 2026
•Yields on gilt rose up to 20 bps across the
maturities, barring 14 year that fell by 1 bps.
•Corporate bond yields increased between 6 to 15
bps across the curve.
•Difference in spread between AAA corporate bond
and gilt contracted between 2 to 5 bps across the
segments, barring 3, 4 & 10 year papers that
expanded by 6, 2 & 7 bps, respectively.
Domestic Debt Market (Spread Analysis)
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8
•The Finance Ministry is set to deliberate on customs warehousing benefits for imported
battery storage systems. Industry groups have raised concerns that the MOOWR scheme is
creating an uneven playing field. Consultations with the ministries of power and renewable
energy are planned, as the government examines potential misuse and policy gaps. Any
decision will be aligned with India’s energy security objectives.
•India’s labour ministry is charting a new course by exploring a multi-manager framework for
its latest social security initiative aimed at gig and platform workers. Under the proposal, the
EPFO is likely to manage provident fund components, while multiple fund managers would
handle pension allocations.
•The government has proposed replacing the 1966 Sugarcane (Control) Order with a new
Sugarcane (Control) Order, 2026, bringing ethanol production, digital compliance, and a
formal approval framework for sugar factories under a single law while retaining key
provisions such as Fair and Remunerative Price norms, a 14-day payment deadline for
farmers, and 15% annual interest on delayed dues.
•The RBI has extended e-mandate rules to cross-border recurring payments, bringing card,
Prepaid Payment Instrument and UPI transactions under tighter controls, while allowing
customers to opt out of mandates at any time to curb digital fraud.
Regulatory Updates in India
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9
•The RBI has proposed tighter norms for prepaid payment instruments (PPI), including
enhanced transaction security and clearer refund and grievance redressal rules, while
capping the outstanding balance in general-purpose PPIs at Rs. 2 lakh, limiting cash
loading to Rs. 10,000 per month, setting maximum values of Rs. 10,000 for gift PPIs and
Rs. 3,000 for transit PPIs, and raising net-worth requirements for non-bank issuers to Rs. 5
crore at entry and Rs. 15 crore within three years to strengthen consumer protection and
system stability.
•According to the latest RBI bulletin, the ongoing West Asia conflict could lead to
supply-chain disruptions and pose challenges to India’s economy through higher
commodity prices, trade uncertainties, and adverse spillovers to inflation and growth
prospects.
•The finance ministry plans to amend the Actuaries Act, 2006 to expand the scope of
actuarial science beyond insurance and pensions to include areas such as data science, risk
management, financial modelling, and public policy, while introducing a regulatory
framework for actuarial firms. The proposed bill is expected to be introduced in the
monsoon session, with stakeholder consultations underway.
Regulatory Updates in India (contd..)
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•U.S. business inventories rose 0.4% in Feb 2026, following a revised flat reading in Jan
2026, according to the Commerce Department.
•U.S. The report said initial jobless claims climbed to 214,000, an increase of 6,000 from the
previous week's revised level of 208,000.
•The U.K. jobless rate stood at 4.9% for the Dec 2025–Feb 2026 period, down from 5.2% in
the previous three-month period, according to the Office for National Statistics.
•The U.K. consumer price index increased 3.3% YoY in Mar 2026, accelerating from a 3.0%
rise in Feb, data from the Office for National Statistics showed.
•U.K. public sector net borrowing fell by GBP 1.4 billion to GBP 12.6 billion in Mar 2026,
according to the Office for National Statistics.
•Germany’s producer prices declined 0.2% YoY in Mar 2026, following a 3.3% fall in Feb
2026, according to Destatis.
•Eurozone exports fell 6.7% YoY in Feb 2026, moderating from a 7.7% decline in Jan 2026.
Imports also decreased 2.2% YoY, compared with a steeper 7.8% fall in Jan, as per
Eurostat.
•Japan’s tertiary activity index slipped 0.4% MoM in Feb 2026, reversing a 2.0% increase in
Jan 2026, which had marked the first rise in three months, according to the Ministry of
Economy, Trade, and Industry.
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Global News/Economy
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11
Global Indices
Indices
24
-Apr-
26
1-Week
Return
YTD
Return
Russell 3000
3,779.42 0.65% 1.78%
Nasdaq 100
27,303.67 2.37% 8.13%
FTSE 100
10,379.08 -2.70% 4.51%
DAX Index
24,128.98 -2.32% -1.48%
Nikkei Average
59,716.18 2.12% 18.63%
Straits Times
4,922.86 -1.50% 5.95%
Source: Refinitiv
Value as on Apr 24, 2026
U.S.
•U.S. equity markets mostly rose
rebounding strongly from recent declines
as optimism around the extension of the
U.S.-Iran ceasefire lifted risk appetite.
Further, the market rose after investors
were given a hopeful sign that peace
talks between the U.S. and Iran would
soon take place in Pakistan.
Europe
•European equity markets declined as renewed uncertainty over the U.S.–Iran ceasefire
weighed on investor sentiment. Escalating tensions along key shipping routes and stalled
peace negotiations triggered broad based selling. Losses in travel related sectors were
partly offset by gains in energy stocks amid higher crude oil prices.
Asia
•Asian equity markets closed mixed amid lingering uncertainty surrounding U.S.–Iran peace
talks. Gains were limited as tensions persisted over control of the Strait of Hormuz.
Elevated Brent crude prices raised concerns about inflation, interest rates, and economic
growth, weighing on overall market sentiment.
Global Equity Markets
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4.20
4.22
4.24
4.26
4.28
4.30
4.32
4.34
20-Apr 21-Apr 22-Apr 23-Apr 24-Apr
Yield in %
US 10-Year Treasury Yield Movement
Source: Refinitiv
12
•Yields on the 10-year U.S. Treasury rose
by 7 bps to close at 4.31% from the
previous week’s close of 4.24%.
•U.S. Treasury prices fell as lingering
uncertainty surrounding the ceasefire
between the U.S. and Iran continued to
complicate assessments of market risk
sentiment.
•Prices also declined as investors grew
increasingly nervous about the fragile
nature of the ceasefire, with no clear
indication that talks to resolve the
conflict between the two countries
potentially expected to take place in
Pakistan would move forward.
Global Debt (U.S.)
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9.00
10.00
11.00
12.00
13.00
24-Mar-26 9-Apr-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($/Barrel)
131.64 123.74
Gold ($/Oz)
4,708.69 4,828.30
Gold (Rs/10 gm)
150,212 151,097
Silver ($/Oz)
75.67 80.79
Silver (Rs/Kg)
240,989 250,016
Source: Refinitiv Value as
on Apr 24,
2026
Gold
•Gold prices fell as the U.S. dollar remained
firm, while oil prices surged amid stalled
U.S.–Iran peace talks and rising tensions
over the Strait of Hormuz.
Brent Crude
•Brent crude oil prices were volatile, rising
on concerns that the Middle East conflict
could be prolonged, before easing amid
heightened uncertainty surrounding
regional tensions.
Baltic Dry Index
•The index rose over the week due to
improved capesize and panamax activities.
Commodities Market
05-Jan-24
24-Apr-26
6.38%
-2.48%
-6.33%
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9.50
9.60
9.70
9.80
9.90
10.00
10.10
10.20
24-Mar-26 9-Apr-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
94.30 92.72
Pound Sterling
126.95 125.27
EURO
110.14 109.20
100 Yen
59.02 58.14
Source: Refinitiv Figures in INR , *Value as on Apr
24, 2026
Rupee
•The Indian rupee weakened against the U.S.
dollar, weighed down by a firm greenback and
volatile crude oil prices amid uncertainty over
progress in West Asia peace negotiations.
Euro
•The euro edged lower against the U.S. dollar as
the U.S.–Iran standoff persisted.
Pound
•The British pound strengthened against the U.S.
dollar as investors assessed prospects for
resolving the U.S.–Israeli conflict involving Iran.
Yen
•The Japanese yen weakened against the U.S.
dollar amid the continued U.S.–Iran standoff.
Currencies Markets
25-Jan-24
24-Apr-26
1.70%
1.51%
0.86%
1.34%
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15
The Week that was…
20th Apr to 24th Apr
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16
The Week that was (Apr 20 – Apr 24)
Date Events
Present
Value
Previous
Value
Monday,
April 20, 2026
• India Infrastructure Output YoY MAR
-0.40% 2.80%
• People's Bank of China Interest Rate Decision
3.00% 3.00%
• Germany Producer Price Index (YoY) (Mar)
-0.20% -3.30%
Tuesday,
April 21, 2026
• U.K. Claimant Count Rate (Mar)
4.40% 4.30%
• U.S. Retail Sales (MoM) (Mar)
1.70% 0.70%
• U.S. Pending Home Sales (MoM) (Mar)
1.50% 2.50%
Wednesday,
April 22, 2026
• U.K. Consumer Price Index (MoM) (Mar)
0.70% 0.40%
• U.K. Retail Price Index (MoM) (Mar)
0.80% 0.40%
Thursday,
April 23, 2026
• Eurozone HCOB Composite PMI (Apr) Prel
48.30 51.90
• U.S. Initial Jobless Claims
214K 207K
Friday,
April 24, 2026
• U.K. GfK Consumer Confidence (Apr)
-25 -21
• U.K. Retail Sales (MoM) (Mar)
0.70% -0.60%
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17
The Week Ahead
27th Apr to 01st May
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18
The Week Ahead
Day Event
Monday,
Apr 27, 2026
•
Japan Leading Economic Index (Feb)
•
Japan Coincident Index (Feb)
Tuesday,
Apr 28, 2026
•
India Industrial Production YoY MAR
•
Bank of Japan Interest Rate Decision
•
U.S. Redbook Index (YoY)
Wednesday,
Apr 29, 2026
•
Eurozone Private Loans (YoY) (Mar)
•
Eurozone Consumer Confidence (Apr)
•
U.S. Housing Starts (MoM) (Feb)
Thursday,
Apr 30, 2026
•
Japan Retail Trade (YoY) (Mar)
•
Bank of England Interest Rate Decision
•
U.S. Core Personal Consumption Expenditures - Price Index (MoM) (Mar)
•
U.S. Initial Jobless Claims
Friday,
May 01, 2026
•
U.S. S&P Global Manufacturing PMI (Apr)
•
U.S. ISM Manufacturing PMI (Apr)
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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
considered as guidelines, recommendations or as a professional guide for the readers. It may be noted that since Nippon Life India Asset
Management Limited (NAM India) has not independently verified the accuracy or authenticity of such information or data, or for that matter the
reasonableness of the assumptions upon which such data and information has been processed or arrive data; NAM India does not in any manner
assures the accuracy or authenticity of such data and information. Some of the statements & assertions contained in these materials may reflect NAM
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Trustee or any of their respective directors, employees, associates or representatives do not assume any responsibility for, or warrant the accuracy,
completeness, adequacy and reliability of such data or information. Whilst no action has been solicited based upon the information provided herein,
due care has been taken to ensure that the facts are accurate and opinions given are fair and reasonable, to the extent possible. This information is
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19
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