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NEWS U CAN USE
Jun 05, 2026
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The Week that was…
01st Jun to 05th Jun
2
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Indian Economy
•The Monetary Policy Committee (MPC), in its second 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%, and the marginal standing facility (MSF) rate and the Bank Rate remain at 5.50%.
The MPC also decided to continue with the neutral stance.
•Government data showed that Gross Domestic Product (GDP) of the Indian economy at
constant (2022-23) prices witnessed a growth of 7.8% YoY in the fourth quarter of FY26. In
the Jan-Mar quarter of last year, the GDP growth rate was 7.0%. On the sectoral front, the
growth of Manufacturing sector eased to 7.3% in Q4 of FY26 from 11.8% in same quarter
of previous fiscal year. The growth of Agriculture, Livestock, Forestry & Fishing slowed to
3.6% in Q4 of FY26 compared to 3.8% rise in Q4 of FY25.
•The Index of Industrial Production (IIP) expanded by 4.9% YoY in Apr 2026, up from a
revised 3.2% in Mar 2026, under the revised IIP series with 2022–23 as the base year.
Growth was led by the manufacturing sector, which recorded a 6.2% increase compared
with a year earlier.
•The Manufacturing Purchasing Managers’ Index (PMI) rose to 55.0 in May 2026 from 54.7
in Apr 2026. Growth was driven by faster gains in new orders, output, and purchasing
activity, led by domestic demand as exports softened. Sales were supported by
intermediate and capital goods, amid infrastructure spending and new business wins.
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4
Domestic Equity Market Indices
Indices
05-Jun-26
1 Week Return
YTD Return
BSE Sensex
74,243.34 -0.71% -12.88%
Nifty 50
23,366.70 -0.77% -10.57%
BSE Mid
-Cap 46,324.34 -1.14% -1.34%
BSE Small
-Cap 53,342.71 0.68% 3.53%
Source: Refinitiv Values as on Jun 05, 2026
•Domestic equity markets declined for
the second consecutive week, with the
benchmark indices, the BSE Sensex and
Nifty 50, falling by 0.71% and 0.77%,
respectively.
•Domestic equity markets fell weighed
down by tariff concerns and ongoing
uncertainty surrounding U.S.-Iran peace
negotiations. Investor sentiment
weakened after tariff risks resurfaced,
following a proposal by the U.S. Trade
Representative to impose an additional
12.5% duty on imports from 54
countries, including India, over alleged
forced-labor practices. Losses were
extended after the RBI maintained the
repo rate at 5.25%, retained its neutral
stance, and revised its FY27 GDP
growth forecast downward to 6.6%
from around 6.9% while increasing its
inflation projection to 5.1% from 4.6%.
Ratios
BSE Sensex
Nifty 50
BSE Mid Cap
BSE Small
Cap
P/E
20.09 20.17 30.26 32.61
P/B
3.98 3.09 5.05 3.93
Dividend Yield
1.12 1.24 0.75 0.59
Source: NSE, BSE Values as on Jun 05, 2026
Indian Equity Market
NSE Advance/Decline Ratio
Date Advances
Declines
Advance/Decline Ratio
01-Jun-26 1,310 2,349 0.56
02-Jun-26 2,119 1,401 1.51
03-Jun-26 1,504 2,009 0.75
04-Jun-26 1,916 1,563 1.23
05-Jun-26 1,716 1,814 0.95
Source: NSE
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5
Sectoral Indices
Indices Last Returns (in %)
Closing 1-Wk 1-Mth
BSE Auto
57,632.85 -0.60% -0.16%
BSE Bankex
61,478.62 0.57% 0.08%
BSE CD
58,654.45 1.68% -0.45%
BSE CG
80,010.94 -1.00% 2.05%
BSE FMCG
17,926.82 -1.85% -6.10%
BSE HC
46,908.38 0.22% 3.49%
BSE IT
28,221.18 0.20% -0.15%
BSE Metal
43,212.52 -1.26% 1.59%
BSE Oil & Gas
26,555.57 -0.69% -3.79%
Source:BSE
Values as on Jun 05, 2026
•On the BSE sectoral front, BSE Metal fell 1.26%
as investor sentiment weakened due to
concerns over global economic growth, falling
base metal prices, and a cautious outlook from
the RBI. The central bank’s warning on rising
inflation risks, elevated energy prices, and
geopolitical tensions dampened expectations
for demand. BSE Bankex rose 0.57% as investor
sentiment improved after the RBI kept the repo
rate unchanged at 5.25% and introduced
measures to attract foreign currency inflows
and support the rupee.
Indian Derivatives Market Review
•Nifty Jun 2026 Futures stood at 23,451.70, a premium of 85.00 points above the spot
closing of 23,366.70.
•The total turnover on NSE’s Futures and Options segment for the week stood at Rs.
1,411.48 lakh crore as against Rs. 1,097.59 lakh crore for the week to May 29.
•The Put-Call ratio stood at 1.01 compared with the previous week’s close of 0.93.
•The Nifty put-call ratio stood at 0.45 compared with the previous week’s close of 0.49.
Indian Equity Market (contd.)
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6.96
6.98
7.00
7.02
7.04
1-Jun 2-Jun 3-Jun 4-Jun 5-Jun
Yield in %
10 -Yr Benchmark Bond ( % )
Source: CCIL
6
Debt Indicators
(%)
Current
Value
1-
Wk
Ago
1-
Mth
Ago
6-
Mth
Ago
Call Rate
5.31 5.47 5.17 5.33
91 Day T
-Bill 5.45 5.55 5.29 5.31
06.36% 2031, (5 Yr GOI)
6.63 6.82 6.74 6.18
06.48% 2035, (10 Yr GOI)
6.98 7.01 7.02 6.49
Source: Refinitiv Values as on Jun 05, 2026
•Bond yields fell following reports that
the central government is considering
removing the 12.5% capital gains tax for
overseas investors, along with the 20%
withholding tax currently applied to
interest income from government
securities. Gains extended after the RBI
kept the policy repo rate unchanged at
5.25% in its Jun 2026 monetary policy
meeting, while sentiment was further
supported by measures such as cheaper
currency swaps for public-sector
companies raising overseas loans and
support for banks to cover hedging costs
on three- to five-year deposits from non-
residents.
•Yield on the 10-year benchmark paper
(6.48% GS 2035) fell by 3 bps to close at
6.98% from the previous week’s close of
7.01%.
Domestic Debt Market
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-25
-12
2
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 05-Jun-26 29-May-26
Yield in %
Change in bps
Source: Refinitiv
7
Maturity G-
Sec Yield
(%)
Corporate Yield
(%)
Spread
bps
1 Year 6.01 7.65 164
3 Year 6.40 7.53 113
5 Year 6.70 7.46 76
10 Year 6.98 7.76 78
Source: Refinitiv Values as on Jun 05, 2026
•Yields on gilt fell up to 22 bps across the maturities,
barring 11 year paper that was unchanged.
•Corporate bond yields fell up to 16 bps across the
curve, barring 9, 10 & 15 year papers that increased
by 1, 2 & 4 bps, respectively.
•Difference in spread between AAA corporate bond
and gilt expanded between 2 to 9 bps across the
segments, barring 1 year paper that contracted by 3
bps.
Domestic Debt Market (Spread Analysis)
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8
•The finance ministry has launched a common landing portal for unclaimed financial assets,
providing a single platform for citizens to search and trace unclaimed bank deposits,
insurance claims, shares, dividends and mutual funds, aiming to improve accessibility,
awareness and financial inclusion while reconnecting people with their rightful funds.
•The Union Cabinet approved a one-time Rs. 10,000 crore ATF price stabilisation fund to
support airlines amid the West Asia crisis, aiming to cushion the impact of sharp fuel price
volatility, ensure operational stability, and limit fare increases.
•The government has set up six sector-specific groups to identify up to 100 products to
boost domestic manufacturing and reduce import dependence, with a focus on promoting
local production for both domestic and global markets and curbing foreign exchange
outflows.
•SEBI has eased mutual fund nomination norms by making KYC identifiers (like PAN, Aadhaar,
contact details, etc.) optional, reducing required information to just the nominee’s name
and relationship, and cutting the maximum number of nominees from 10 to 3, as part of
efforts to simplify the process and improve investor convenience; the revised rules take
effect from Sep 1, 2026.
•AMFI has asked mutual fund distributors to update their GST registration details on its
portal by Jun 10, 2026. Failing to do so may result in only base commission being paid, with
the 18% GST component withheld due to missing valid registration and invoicing.
Regulatory Updates in India
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9
•BSE has launched StAR NPS, a digital platform that enables mutual fund distributors to
onboard and service NPS subscribers through online KYC and contribution processing,
extending the StAR MF model to pension products. It supports resident individuals aged
18–85, keeps charges at Rs. 200 plus taxes with no extra cost, and while distributors
handle onboarding, Points of Presence (PoPs) retain full responsibility for compliance and
regulatory functions.
Regulatory Updates in India (contd..)
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•U.S. construction spending climbed 0.4% to an annual rate of $2.172 trillion in Apr 2026,
after rising 0.2% to a revised rate of $2.164 trillion in Mar 2026, according to the
Commerce Department.
•U.S. nonfarm payroll employment increased by 172,000 jobs in May 2026, following an
upwardly revised gain of 179,000 jobs in Apr 2026, according to the Labor Department.
•The U.S. manufacturing PMI rose to 54.0 in May 2026 from 52.7 in Apr 2026, according to
the Institute for Supply Management.
•U.S. factory orders are expected to surge by 4.3% in Ap r2026, compared with the 1.5%
increase originally reported for the previous month, according to the Commerce
Department.
•U.K. house prices fell by 0.1% MoM in May 2026, according to a survey by S&P.
•The U.K. final manufacturing Purchasing Managers' Index rose to a 48-month high of 53.9
in May, up from 53.7 in the previous month, according to survey data from S&P Global.
•Eurozone inflation rose to 3.2% in May 2026 from 3.0% in Apr 2026, according to Eurostat.
•China’s manufacturing Purchasing Managers' Index fell to 51.8 in May 2026 from 52.2 in
Apr 2026, according to survey data from S&P Global.
•China’s Services Purchasing Managers' Index rose to 54.4 in May 2026 from 52.6 in the
previous month, according to survey data from S&P Global.
10
Global News/Economy
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11
Global Indices
Indices
05
-Jun-
26
1-Week
Return
YTD
Return
Russell 3000
3,948.59 -2.03% 6.34%
Nasdaq 100
29,819.13 -1.69% 18.10%
FTSE 100
10,390.68 -0.18% 4.62%
DAX Index
24,814.44 -1.16% 1.32%
Nikkei Average
66,588.12 0.39% 32.28%
Straits Times
5,049.96 0.24% 8.69%
Source: Refinitiv
Value as on Jun 05,
2026
U.S.
•U.S. equity markets fell amid escalating
tensions between the U.S. and Iran. Sharp
declines in a semiconductor-sector stock
and a cybersecurity-sector stock,
following weaker outlooks, further
weighed on sentiment after a prolonged
recent rally. Additionally, the market
weakened due to a failure to raise its AI
chip outlook.
Europe
•European equity markets mostly declined as investors assessed proposed U.S. tariffs on
multiple countries. The cautious mood was reinforced by escalating tensions in the Middle
East, along with news that Hezbollah rejected a ceasefire agreement with Israel and
launched fresh strikes across southern Lebanon.
Asia
•Asian equity markets mostly fell due to heavy selling in major technology stocks. Lingering
uncertainty over U.S.-Iran peace negotiations also kept regional markets under pressure.
However, losses were limited by expectations of continued demand for semiconductors.
Global Equity Markets
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4.42
4.44
4.46
4.48
4.50
4.52
4.54
4.56
1-Jun 2-Jun 3-Jun 4-Jun 5-Jun
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 4.54% from the
previous week’s close of 4.45%.
•U.S. Treasury prices fell after data
showed that employers added far more
jobs than expected in May 2026,
bolstering bets that the Federal Reserve
will raise interest rates later this year.
•Prices also declined as rising hostilities
in the Middle East, following strikes by
both the U.S. and Iran, pushed oil prices
higher and reignited concerns about
sustained inflationary pressures.
Global Debt (U.S.)
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6.00
7.00
8.00
9.00
10.00
11.00
12.00
13.00
5-May-26 21-May-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($/Barrel)
98.39 97.26
Gold ($/Oz)
4,354.16 4,535.82
Gold (Rs/10 gm)
153,959 155,964
Silver ($/Oz)
68.97 75.26
Silver (Rs/Kg)
257,129 263,371
Source: Refinitiv Value as o
n Jun 05,
2026
Gold
•Gold prices ($/oz) fell as economists
assessed strong nonfarm payroll data for
May 2026, which supported the potential
for an interest rate hike by the U.S. Federal
Reserve. Additionally, prices declined as
expectations of sustained higher interest
rates, driven by inflation concerns.
Brent Crude
•Brent crude oil prices rose despite growing
confidence in the reopening of the Strait of
Hormuz in the coming days, following
announcements of an Israel-Lebanon
ceasefire and progress in U.S.-Iran talks.
Baltic Dry Index
•The index fell over the week due to
sluggish capesize and panamax activities.
Commodities Market
05-Jan-24
5-Jun-26
1.16%
-4%
-8.35%
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9.60
9.70
9.80
9.90
10.00
10.10
10.20
5-May-26 21-May-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
95.40 95.38
Pound Sterling
128.11 128.18
EURO
110.83 111.11
100 Yen
59.64 59.89
Source: Refinitiv Figures in INR , *Value as on
Jun 05, 2026
Rupee
•The Indian rupee strengthened against the U.S.
dollar after the Reserve Bank of India
announced measures to support foreign capital
inflows and enhance forex liquidity.
Euro
•The euro weakened against the U.S. dollar after
the U.S. economy posted another month of
strong employment gains in May 2026.
Pound
•The British pound declined against the U.S.
dollar following another month of strong
employment gains in the U.S. economy in May
2026.
Yen
•The Japanese yen weakened against the U.S.
dollar due to concerns over rising geopolitical
tensions.
Currencies Markets
25-Jan-24
5-Jun-26
0.02%
-0.42%
-0.25%
-0.06%
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15
The Week that was…
01st Jun to 05th Jun
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16
The Week that was (Jun 01 – Jun 05)
Date Events
Present
Value
Previous
Value
Monday,
Jun 01, 2026
• India HSBC Manufacturing PMI Final MAY
55.00 54.30
• India Industrial Production YoY APR
4.90% 4.10%
• U.S. ISM Manufacturing PMI (May)
54.00 52.70
Tuesday,
Jun 02, 2026
• Eurozone Core Harmonized Index of Consumer Prices (YoY) (May) Prel
2.50% 2.20%
• U.S. JOLTS Job Openings (Apr)
7.618M 6.887M
• U.S. Redbook Index (YoY)
9.00% 9.00%
Wednesday,
Jun 03, 2026
• China RatingDog Services PMI (May)
54.40 52.60
• Germany HCOB Services PMI (May)
48.10 47.80
Thursday,
Jun 04, 2026
• Eurozone Retail Sales (YoY) (Apr)
1.00% 2.10%
• U.S. Initial Jobless Claims
225K 212K
Friday,
Jun 05, 2026
• Eurozone Employment Change (QoQ) (Q1)
0.10% 0.10%
• U.S. Nonfarm Payrolls (May)
172K 179K
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17
The Week Ahead
08th Jun to 12th Jun
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18
The Week Ahead
Day Event
Monday,
Jun 08, 2026
•
Japan Gross Domestic Product (QoQ) (Q1)
•
Germany Factory Orders s.a. (MoM) (Apr)
•
Eurozone Sentix Investor Confidence (Jun)
Tuesday,
Jun 09, 2026
•
China Trade Balance CNY (May)
•
Germany Industrial Production (YoY) (Apr)
•
U.S. Existing Home Sales Change (MoM) (May)
Wednesday,
Jun 10, 2026
•
China Consumer Price Index (YoY) (May)
•
U.S. Consumer Price Index (MoM) (May)
•
Japan Producer Price Index (YoY) (May)
Thursday,
Jun 11, 2026
•
European Central Bank Main Refinancing Operations Rate
•
U.S. Initial Jobless Claims
•
U.S. Producer Price Index (YoY) (May)
Friday,
Jun 12, 2026
•
India Inflation Rate YoY MAY
•
Germany Harmonized Index of Consumer Prices (YoY) (May)
•
U.K. Industrial Production (MoM) (Apr)
•
U.K. Manufacturing Production (MoM) (Apr)
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
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19
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