Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
NEWS U CAN USE
Jul 10, 2026
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
The Week that was…
06th Jul to 10th Jul
2
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
Indian Economy
•According to GST data, e-way bill generation rose 14.5% YoY to 136.8 million in Jun 2026,
reaching the fourth-highest monthly level and signalling resilient domestic trade activity
and tax compliance.
•According to the Finance Ministry, over 140,000 guarantees worth more than Rs. 1.55 lakh
crore have been issued under the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0,
with MSMEs accounting for 98% of beneficiaries.
•According to the United Nations Conference on Trade and Development (UNCTAD) World
Investment Report 2026, India rose to become the world's 11th-largest FDI recipient in
2025, with foreign direct investment inflows increasing 44% to $38.9 billion, driven by its
growing appeal as a manufacturing and investment destination.
•The Employees' Provident Fund Organisation will credit Rs. 1.44 lakh crore as 8.25%
interest for FY26 to around 34 crore member accounts by Jul 15, 2026, through an
automated process. The retirement fund body will also launch its new CITES 2.01 portal
and has increased the auto-settlement limit for advance claims to Rs. 5 lakh from Rs. 1
lakh.
•According to Union Agriculture Minister, India’s rainfall deficit has narrowed to 24% in Jul
2026 from 38% in Jun 2026, improving prospects for kharif sowing. The number of rainfall-
deficient districts has fallen to 178 from 262, though total kharif sowing remains about
21% below last year's level due to the delayed monsoon.
3
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
4
Domestic Equity Market Indices
Indices
10-Jul-26
1 Week Return
YTD Return
BSE Sensex
77,569.39 -0.25% -8.98%
Nifty 50
24,206.90 -0.26% -7.36%
BSE Mid
-Cap 48,399.61 1.15% 3.08%
BSE Small
-Cap 56,676.05 0.44% 10.00%
Source: Refinitiv
Values as on Jul 10, 2026
•Domestic equity markets declined after
recording gains over the previous four
consecutive weeks, with the benchmark
indices, BSE Sensex and Nifty 50, falling
0.25% and 0.26%, respectively.
•Domestic equity markets fell after the
U.S. President stated at the NATO
summit that the Iran ceasefire was
effectively over, following Iranian
attacks on commercial vessels in the
Strait of Hormuz that reignited
geopolitical tensions. The escalation in
U.S.-Iran tensions pushed crude oil
prices higher, raising concerns over
global inflation. However, losses were
limited as sentiment improved in the
latter part of the week, supported by
positive global cues after a U.S. official
reaffirmed Washington's commitment
to resolving the Iran conflict through
continued technical discussions.
Ratios
BSE Sensex
Nifty 50
BSE Mid Cap
BSE Small
Cap
P/E
21.04 20.87 31.64 34.22
P/B
4.17 3.15 5.32 4.26
Dividend Yield
1.07 1.23 0.66 0.55
Source: NSE, BSE
Values as on Jul 10, 2026
Indian Equity Market
NSE Advance/Decline Ratio
Date Advances
Declines
Advance/Decline Ratio
06-Jul-26 1,686 1,867 0.90
07-Jul-26 1,377 2,172 0.63
08-Jul-26 702 2,800 0.25
09-Jul-26 2,610 875 2.98
10-Jul-26 2,795 1,169 2.39
Source: NSE
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
5
Sectoral Indices
Indices Last Returns (in %)
Closing 1-Wk 1-Mth
BSE Auto
59,409.60 -0.60% 4.50%
BSE Bankex
65,687.67 0.36% 5.85%
BSE CD
62,002.68 2.15% 7.83%
BSE CG
79,102.08 0.46% 1.29%
BSE FMCG
18,408.57 -1.18% 1.50%
BSE HC
49,941.13 -0.29% 6.30%
BSE IT
27,211.93 1.80% -1.24%
BSE Metal
40,816.59 0.66% -1.80%
BSE Oil & Gas
26,323.04 0.47% 2.20%
Source:BSE
Values as on Jul 10, 2026
•On the BSE sectoral front, BSE Realty surged
5.38%, driven by improving global sentiment
after softer U.S. economic data eased concerns
over an immediate interest rate hike by the U.S.
Fed. Expectations of a more stable interest rate
environment supported investor sentiment
toward the rate-sensitive real estate sector. BSE
FMCG declined 1.18% as the sector came under
pressure during the week amid concerns that
renewed tensions between the U.S. and Iran
could push crude oil prices higher, increasing
the risk of elevated input and packaging costs
for consumer goods companies.
Indian Derivatives Market Review
•Nifty Jul 2026 Futures stood at 24,241.90, a premium of 35.00 points above the spot
closing of 24,206.90.
•The total turnover on NSE’s Futures and Options segment for the week stood at Rs.
1,181.11 lakh crore as against Rs. 1,335.65 crore for the week to Jul 3.
•The put-call ratio stood at 0.9, compared with the previous week’s close of 1.01.
•The Nifty put-call ratio stood at 0.53, compared with the previous week’s close of 0.6.
Indian Equity Market (contd.)
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
6.66
6.68
6.70
6.72
6.74
6.76
6-Jul 7-Jul 8-Jul 9-Jul 10-Jul
Yield in %
10 -Yr Benchmark Bond ( % )
Source: CCIL
6
Debt Indicators
(%)
Current
Value
1-
Wk
Ago
1-
Mth
Ago
6-
Mth
Ago
Call Rate
5.35 5.28 5.28 5.44
91 Day T
-Bill 5.30 5.26 5.34 5.32
06.36% 2031, (5 Yr GOI)
6.39 6.41 6.57 6.37
06.94% 2036, (10 Yr GOI)
6.71 6.71 6.94 6.64
Source: Refinitiv
Values as on Jul 10, 2026
•Bond yields remained volatile during the
week, largely influenced by escalating
tensions in the Middle East. Yields rose
amid renewed escalation in the U.S.-Iran
conflict, which drove crude oil prices
higher, and due to a rise in U.S. Treasury
yields. However, improving monsoon
conditions, sustained foreign investor
buying in domestic bonds, and robust
investor demand at the weekly
government bond auction helped offset
the upward pressure on yields.
•Yield on the 10-year benchmark paper
(6.94% GS 2036) was unchanged to close
at 6.71% from the previous week’s close.
•Data from Reserve Bank of India showed
that India's foreign exchange reserves
increased to $674.19 billion for the week
ended Jul 03, 2026 compared with
$666.93 billion a week earlier.
Domestic Debt Market
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
-8
-4
0
4
8
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-Jul-26 03-Jul-26
Yield in %
Change in bps
Source: Refinitiv
7
Maturity G-
Sec Yield
(%)
Corporate Yield
(%)
Spread
bps
1 Year 5.77 7.43 166
3 Year 6.21 7.3 109
5 Year 6.39 7.22 83
10 Year 6.71 7.51 80
Source: Refinitiv
Values as on Jul 10, 2026
•Yields on gilt fell up to 6 bps across the maturities,
barring 2 & 30 year papers that increased by 1 bps
each, while 3 & 10 year papers remained steady.
•Corporate bond yields fell between 2 to 6 bps
across the curve, barring 1 & 2 year papers that
increased by 4 & 1 bps, respectively, while 7 to 10
year papers were unchanged.
•Difference in spread between AAA corporate bond
and gilt contracted up to 5 bps across the segments,
barring 1, 6 & 7 year papers that expanded by 10, 3
& 2 bps, respectively, while 2 year paper remained
steady.
Domestic Debt Market (Spread Analysis)
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
8
•The government has extended two additional National Pension System (NPS) investment
options to employees of Central Autonomous Bodies. The options include LC-75 High, which
allows equity exposure of up to 75%, and the Balanced Life Cycle Fund, which permits
equity exposure of up to 50%, offering subscribers greater flexibility to align investments
with their risk appetite and retirement goals.
•SEBI has eased Investor Protection Fund (IPF) norms for depositories, allowing up to 5% of
annual income earned on IPF investments to be used for administrative expenses, while
mandating that at least 95% be reinvested into the fund corpus. The revised framework,
effective Sep 1, 2026, aims to strengthen the investor protection ecosystem.
•The RBI has reiterated its preference for a cryptocurrency policy that leans toward
prohibition, citing risks to financial stability and monetary sovereignty. Meanwhile, the
Income Tax Department has flagged widespread underreporting of crypto transactions and
warned that offshore exchanges, private wallets, and peer-to-peer trades make tax evasion
harder to detect, underscoring the need for tighter oversight of virtual digital assets.
•The RBI has launched three key surveys to assess household inflation expectations and
consumer confidence, with the findings expected to provide important inputs for monetary
policy formulation ahead of the August MPC meeting.
Regulatory Updates in India
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
9
•The Ministry of Statistics and Programme Implementation (MoSPI) will launch the Index of
Services Production (ISP) on Jul 14, 2026, a new high-frequency indicator designed to track
activity in the services sector. Compiled using GSTN and other administrative data sources,
the ISP will complement the Index of Industrial Production (IIP) and provide policymakers
and investors with a more timely gauge of economic activity in India's largest growth-
driving sector.
•India has extended anti-dumping duties on Chinese seamless steel tubes and pipes until
Jan 27, 2027, protecting domestic manufacturers from low-priced imports. The duty
ranges from USD 961–1,611 per tonne. The government also continued anti-dumping
duties on Normal Butanol imports from Malaysia, South Africa, and the U.S.
Regulatory Updates in India (contd..)
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
•The U.S. trade deficit widened to $77.6 billion in May 2026, from a revised $54.6 billion in
Apr 2026, according to the Commerce Department.
•The U.S. Services PMI edged down to 54.0 in Jun 2026 after rising to 54.5 in May 2026,
according to the Institute for Supply Management.
•U.S. existing home sales declined by 2.4% to a seasonally adjusted annual rate of 4.09
million units in Jun 2026, following a 3.7% increase to an upwardly revised rate of 4.19
million units in May 2026, according to the National Association of Realtors.
•Germany’s factory orders expanded 1.9% MoM in May 2026, contrasting with the revised
3.2% decline recorded in Apr 2026, according to Destatis.
•Germany’s consumer price inflation eased to 2.3% in Jun 2026, down from 2.6% in May
2026, according to data released by Destatis.
•China’s consumer prices rose 0.3% MoM in Jun 2026, according to the National Bureau of
Statistics.
•Japan's current account surplus stood at ¥3.968 trillion in May 2026, according to the
Ministry of Finance
•Japan’s household spending increased by a seasonally adjusted 3.7% MoM in May 2026,
according to the Ministry of Internal Affairs and Communications.
10
Global News/Economy
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
11
Global Indices
Indices
10-Jul-26 1-Week
Return
YTD
Return
Russell 3000
3,907.13 2.06% 5.22%
Nasdaq 100
29,825.11 1.69% 18.12%
FTSE 100
10,497.29 -1.70% 5.70%
DAX Index
25,067.09 -2.76% 2.35%
Nikkei Average
68,557.73 -1.70% 36.19%
Straits Times
5,469.29 4.29% 17.72%
Source: Refinitiv
Value as on Jul 10, 2026
U.S.
•U.S. equity markets rose, supported by a
strong rebound in semiconductor stocks.
The rally was further fueled by a decline
in crude oil prices recent weeks, which
helped ease earlier inflation concerns
stemming from escalating tensions in the
Middle East.
Europe
•European equity markets declined amid concerns over elevated valuations in the AI and
technology sectors. Investor sentiment remained cautious as higher energy costs
threatened to sustain inflationary pressures, while uncertainty surrounding the U.S.
Federal Reserve’s interest-rate path further limited risk appetite.
Asia
•Asian equity markets closed on a mixed note. Markets gained as investors remained
confident that the conflict would not significantly escalate across the Middle East, despite
the exchange of fire between the United States and Iran, which heightened geopolitical
concerns.
Global Equity Markets
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
4.40
4.45
4.50
4.55
4.60
6-Jul 7-Jul 8-Jul 9-Jul 10-Jul
Yield in %
US 10-Year Treasury Yield Movement
Source: Refinitiv
12
•Yields on the 10-year U.S. Treasury rose
by 9 bps to close at 4.57% from the
previous week’s close of 4.48%.
•U.S. Treasury prices fell after the U.S.
president said he believed the
memorandum of understanding with
Iran was no longer in effect, prompting
a sharp rise in oil prices and a broad
selloff in stocks and bonds.
•Additionally, Treasury prices declined as
investors focused on renewed tensions
between the United States and Iran.
Disruptions to traffic through the Strait
of Hormuz further fueled concerns that
rising oil prices could increase
inflationary pressures.
Global Debt (U.S.)
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
6.00
8.00
10.00
12.00
10-Jun-26 26-Jun-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($/Barrel)
72.65 67.26
Gold ($/Oz)
4,120.08 4,174.90
Gold (Rs/10 gm)
142,741 145,764
Silver ($/Oz)
59.84 62.40
Silver (Rs/Kg)
220,540 233,669
Source: Refinitiv Value as o
n Jul 10, 2026
Gold
•Gold prices ($/oz) fell as the status of U.S.-
Iran peace talks remained unclear. Further,
prices fell as renewed U.S.-Iran tensions
increased concerns about further interest
rate hikes.
Brent Crude
•Brent crude oil prices rose after the U.S.
President declared at the NATO summit
that the Iran ceasefire was "over,"
heightening fears of renewed conflict and
potential disruptions to shipping through
the Strait of Hormuz.
Baltic Dry Index
•The index rose over the week due to
improved capesize and panamax activities.
Commodities Market
05-Jan-24
10-Jul-26
8.01%
-1.31%
-4.10%
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
9.60
9.70
9.80
9.90
10.00
10.10
10-Jun-26 26-Jun-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
95.31 95.24
Pound Sterling
128.03 127.41
EURO
109.08 109.15
100 Yen
59.02 59.25
Source: Refinitiv Figures in INR , *Value as on Jul
10, 2026
Rupee
•The Indian rupee weakened against the U.S.
dollar as the breakdown of the U.S.-Iran
ceasefire drove crude oil prices higher.
Euro
•The euro weakened against the U.S. dollar amid
concerns over escalating geopolitical tensions.
Pound
•The British pound weakened against the U.S.
dollar amid concerns over escalating
geopolitical tensions.
Yen
•The Japanese yen weakened against the U.S.
dollar amid concerns over escalating
geopolitical tensions.
Currencies Markets
25-Jan-24
10-Jul-26
0.08%
-0.39%
-0.06%
0.48%
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
15
The Week that was…
06th Jul to 10th Jul
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
16
The Week that was (Jul 06 – Jul 10)
Date Events
Present
Value
Previous
Value
Monday,
Jul 06, 2026
• Germany Factory Orders (MoM) (May)
1.90% -3.20%
• Eurozone' Sentix Investor Confidence (Jul)
-3.10 -13.40
• Eurozone's Retail Sales (YoY) (May)
1.60% 0.90%
• U.S. ISM Services PMI (Jun)
54.00 54.50
Tuesday,
Jul 07, 2026
• Germany's Industrial Production (MoM) (May)
0.90% 0.20%
• U.S. Redbook Index (YoY)
11.50% 10.50%
• Japan's Labor Cash Earnings (YoY) (May)
3.20% 3.60%
Wednesday,
Jul 08, 2026
• Japan Current Account (May)
Â¥3.968B
Â¥3,907B
• U.S. Wholesale Inventories (May)
0.10% 0.30%
Thursday,
Jul 09, 2026
• U.S. Initial Jobless Claims
215K 217K
• China Consumer Price Index (YoY) (Jun)
1.00% 1.20%
Friday,
Jul 10, 2026
• Germany Harmonized Index of Consumer Prices (YoY) (Jun)
2.40% 2.40%
• Japan's Producer Price Index (YoY) (Jun)
7.10% 6.60%
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
17
The Week Ahead
13th Jul to 17th Jul
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
18
The Week Ahead
Day Event
Monday,
Jul 13, 2026
•
Inflation Rate YoY JUN
•
Eurozone Current Account (May)
Tuesday,
Jul 14, 2026
•
India WPI Food Index YoY JUN
•
China Trade Balance CNY (Jun)
•
India Consumer Price Index (MoM) (Jun)
Wednesday,
Jul 15, 2026
•
India Unemployment Rate JUN
•
India Balance of Trade JUN
•
China Industrial Production (YoY) (Jun)
•
China Retail Sales (YoY) (Jun)
•
U.S. Producer Price Index (MoM) (Jun)
Thursday,
Jul 16, 2026
•
U.K. Industrial Production (MoM) (May)
•
U.K. Manufacturing Production (MoM) (May)
•
U.S. Initial Jobless Claims
•
U.S. Retail Sales (MoM) (Jun)
Friday,
Jul 17, 2026
•
Eurozone Core Harmonized Index of Consumer Prices (MoM) (Jun)
•
U.S. Industrial Production (MoM) (Jun)
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
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
India’s views or opinions, which in turn may have been formed on the basis of such data or information. The Sponsor(s), the Investment Manager, the
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
not intended to be an offer or solicitation for the purchase or sale of any financial product or instrument. Recipients of this information should rely
on information/data arising out of their own investigations. Before making any investments, the readers are advised to seek independent
professional advice, verify the contents in order to arrive at an informed investment decision. None of the Sponsor(s), the Investment Manager, the
Trustee, their respective directors, employees, associates or representatives shall be liable in any way for any direct, indirect, special, incidental,
consequential, punitive or exemplary damages, including on account of lost profits arising from the information contained in this material.
All information contained in this document has been obtained by ICRA Analytics Limited from sources believed by it to be accurate and reliable.
Although reasonable care has been taken to ensure that the information herein is true, such information is provided ‘as is’ without any warranty of
any kind, and ICRA Analytics Limited in particular, make no representation or warranty, express or implied, as to the accuracy, timeliness or
completeness of any such information. All information contained herein must be construed solely as statements of opinion, and ICRA Analytics
Limited shall not be liable for any losses incurred by users from any use of this document or its contents in any manner. Opinions expressed in this
document are not the opinions of ICRA Analytics Limited’s holding company, ICRA Limited (ICRA), and should not be construed as any indication of
credit rating or grading of ICRA for any instruments that have been issued or are to be issued by any entity.
19
Disclaimer
Thank you for
your time.
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
Thank you for
your time.
