Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
NEWS U CAN USE
Jun 19, 2026
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
The Week that was…
15th Jun to 19th Jun
2
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
Indian Economy
•India’s wholesale price index (WPI)-based inflation rose 9.68% YoY in May 2026,
accelerating from a marginally revised 8.26% increase in Apr 2026, with food and fuel
prices remaining elevated amid ongoing US–Iran conflict-driven pressures on crude oil and
global supply chains.
•India’s unemployment rate rose to 5.5% in May of 2026 from 5.2% in the previous month
the highest in nearly one year. The deterioration in the labor market was aligned with
macroeconomic headwinds in India in recent weeks.
•India’s merchandise trade deficit widened to $28.21 billion in May 2026, compared with
$22.56 billion in May 2025. Exports increased 18.02% YoY to $ 45.20 billion, while imports
rose 20.62% YoY to $ 73.41 billion over the same period.
•India’s net direct tax collections grew 14.6% YoY to Rs. 5.21 lakh crore till Jun 17 of FY27,
driven by strong corporate and non-corporate tax growth, while gross collections rose
12.5% to Rs.6.10 lakh crore; advance tax increased 15.3% to Rs.1.78 lakh crore, indicating
healthy income trends, alongside a sharp rise in STT collections and only a marginal
increase in refunds.
•According to data from the Petroleum Planning & Analysis Cell, India’s crude oil import bill
surged 81.5% YoY to $18.7 bn in May 2026, driven by sharply higher global prices despite
largely unchanged import volumes, with the Indian basket averaging $106.23 per barrel
versus $64.04 a year ago.
3
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
4
Domestic Equity Market Indices
Indices
19-Jun-26
1 Week Return
YTD Return
BSE Sensex
76,802.90 1.69% -9.88%
Nifty 50
24,013.10 1.65% -8.10%
BSE Mid
-Cap 47,805.62 3.62% 1.81%
BSE Small
-Cap 55,721.61 4.05% 8.14%
Source: Refinitiv Values as on Jun 19, 2026
•Domestic equity markets gained for the
second consecutive week, with the
benchmark indices, the BSE Sensex and
Nifty 50, rising by 1.69% and 1.65%,
respectively.
•Domestic equity markets rose during
the week after crude oil prices declined
following the U.S. President’s
announcement of a tentative peace
deal with Iran, easing investor concerns
over inflation and boosting sentiment.
•However, sentiment weakened later
after reports indicated that the Swiss
Foreign Ministry confirmed the
postponement of talks between U.S.
officials and Iranian negotiators on a
potential agreement.
Ratios
BSE Sensex
Nifty 50
BSE Mid Cap
BSE Small
Cap
P/E
20.76 20.71 31.01 34.07
P/B
4.11 3.16 5.21 4.10
Dividend Yield
1.26 1.39 0.72 0.57
Source: NSE, BSE Values as on Jun 19, 2026
Indian Equity Market
NSE Advance/Decline Ratio
Date Advances
Declines
Advance/Decline Ratio
15-Jun-26 2,641 913 2.89
16-Jun-26 2,072 1,474 1.41
17-Jun-26 1,994 1,501 1.33
18-Jun-26 2,041 1,452 1.41
19-Jun-26 1,802 1,725 1.04
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
58,670.92 1.31% 3.73%
BSE Bankex
65,072.61 1.70% 8.14%
BSE CD
61,066.86 4.52% 6.23%
BSE CG
83,600.96 5.97% 9.83%
BSE FMCG
18,414.08 1.51% -1.81%
BSE HC
47,844.86 0.96% 0.60%
BSE IT
26,829.46 -1.25% -5.45%
BSE Metal
42,051.20 0.11% -1.72%
BSE Oil & Gas
26,478.50 1.25% -0.68%
Source:BSE
Values as on Jun 19, 2026
•On the BSE sectoral front, BSE Realty rose
5.44% as Mumbai-focused realty stocks gained,
supported by renewed investor interest and
sustained demand trends in the residential
market. However, the upside was limited after
the Brihanmumbai Municipal Corporation
imposed a 20% cut in water supply and
suspended water connections for construction
activities due to low reservoir levels caused by a
delayed monsoon. BSE IT declined 1.25% after
Accenture revised its revenue growth guidance
downward and highlighted a softer demand
outlook in its Q3 earnings announcement.
Indian Derivatives Market Review
•Nifty Jun 2026 Futures stood at 24,056.90, a premium of 43.80 points above the spot
closing of 24,013.10.
•The total turnover on NSE’s Futures and Options segment for the week stood at Rs.
1,198.00 lakh crore as against Rs. 1,198.00 lakh crore for the week to Jun 12.
•The put-call ratio stood at 0.97, compared with the previous week’s close of 0.89.
•The Nifty put-call ratio was unchanged at 0.41, compared with the previous week’s close.
Indian Equity Market (contd.)
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
6.82
6.84
6.86
6.88
15-Jun 16-Jun 17-Jun 18-Jun 19-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
5.36 5.27 5.21 5.37
91 Day T
-Bill 5.23 5.24 5.48 5.27
06.36% 2031, (5 Yr GOI)
6.50 6.49 6.89 6.35
06.94% 2036, (10 Yr GOI)
6.85 6.90 7.05 6.60
Source: Refinitiv Values as on Jun 19, 2026
•Bond yields declined after a preliminary
peace agreement between the U.S. and
Iran triggered a sharp fall in crude oil
prices. However, gains were capped as
the U.S. Federal Reserve kept interest
rates unchanged in its Jun 2026 meeting
while adopting a hawkish outlook.
•Yield on the 10-year benchmark paper
(6.94% GS 2036) fell by 5 bps to close at
6.85% from the previous week’s close of
6.90%.
•Data from Reserve Bank of India showed
that India's foreign exchange reserves
decreased to $671.63 billion for the
week ended Jun 12, 2026 compared with
$681.61 billion a week earlier.
Domestic Debt Market
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
-39
-26
-13
0
13
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 19-Jun-26 12-Jun-26
Yield in %
Change in bps
Source: Refinitiv
7
Maturity G-
Sec Yield
(%)
Corporate Yield
(%)
Spread
bps
1 Year 5.74 7.44 170
3 Year 6.26 7.36 110
5 Year 6.50 7.33 83
10 Year 6.85 7.65 80
Source: Refinitiv Values as on Jun 19, 2026
•Yields on gilt fell up to 31 bps across the maturities,
barring 3 & 5 year papers that rose by 1 bps each.
•Corporate bond yields fell up to 12 bps across the
curve, barring 6 year paper that increased by 1 bps,
while 5 & 7 year papers were unchanged.
•Difference in spread between AAA corporate bond
and gilt contracted up to 8 bps across the segments,
barring 1, 6 & 7 year papers that expanded by 21, 1
& 2 bps, respectively, while 2 & 10 year papers
remined steady.
Domestic Debt Market (Spread Analysis)
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
8
•The RBI has temporarily relaxed interest rate norms on NRI deposits until Sep 30, 2026,
allowing banks to offer higher returns on FCNR(B) and NRE accounts to attract overseas
funds and boost foreign exchange inflows.
•The Insolvency and Bankruptcy Board of India has introduced new norms to enhance
valuations of distressed firms by adopting a holistic approach that factors in intangible
assets such as brand value, patents, licences, customer relationships, and synergy value. The
framework also introduces a coordinating valuer to integrate asset-specific assessments,
and prescribes standardised formats and guidelines to improve transparency, consistency,
and accuracy, supporting better resolution outcomes.
•The government ratified an 8.25% Employees’ Provident Fund (EPF) interest rate for FY26,
with credits to over 7 crore subscribers expected this month.
•The government ratified an 8.25% Employees’ Provident Fund (EPF) interest rate for FY26,
with credits to over 7 crore subscribers expected this month.
•SEBI has overhauled ETF pricing by shifting the base price to the previous day’s market price
and replacing fixed price bands with dynamic limits, effective Sep 1, 2026, to improve price
discovery and better align ETF prices with underlying assets. The new framework introduces
flexible bands with cooling-off periods, replacing the earlier static structure and addressing
pricing distortions caused by lagged NAV-based valuation.
Regulatory Updates in India
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
9
•The RBI has directed banks and NBFCs to fully refund customers in cases of mis-selling of
financial products such as mutual funds and insurance policies, along with compensating
any losses incurred. The new framework, effective Jan 1, 2027, also mandates stricter sales
practices, including clear disclosure, explicit customer consent, and post-sale verification
to ensure customers understand the product, aiming to curb aggressive and misleading
cross-selling.
•AMFI has enabled investors to access and invest in specialised investment funds (SIFs) via
its website, allowing them to explore offerings and be redirected to respective fund
platforms, with the facility currently listing select SIF schemes and aimed at simplifying
access to this new investment category.
Regulatory Updates in India (contd..)
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
•U.S. consumer sentiment rose to 48.9 in Jun 2026 after falling to 44.8 in May 2026,
according to the University of Michigan.
•U.S. industrial production edged up by 0.1% in May 2026 after rising by an upwardly
revised 0.9% in Apr 2026, according to the Federal Reserve.
•The Federal Reserve, on Jun 17, 2026, announced its widely expected decision to leave
interest rates unchanged. The Fed said it would maintain the target range for the federal
funds rate at 3.50% to 3.75%, citing its dual goals of maximum employment and inflation
at a rate of 2% over the longer run.
•The Bank of England left its key interest rate unchanged on Jun 18, 2026, as inflation
slowed unexpectedly and unemployment declined, while a U.S.–Iran peace deal eased
inflation fears. The Monetary Policy Committee voted 7–2 to hold the bank rate at 3.75%,
the lowest since Jun 2023.
•Germany’s wholesale prices increased 5.9% YoY in May 2026, following a 6.3% rise in April
2026, according to Destatis.
•The Bank of Japan raised its benchmark interest rate by a quarter percentage point to its
highest level in 31 years on Jun 16, 2026, and signaled that it will halt reductions in
government bond purchases next year. The policy board voted 7–1 to increase the rate to
1.00% from 0.75%, in line with expectations.
10
Global News/Economy
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
11
Global Indices
Indices
1
9-Jun-
26
1-Week
Return
YTD
Return
Russell 3000
[1] 3,895.11 1.51% 4.90%
NASDAQ 100
[1] 30,406.19 2.60% 20.42%
FTSE 100
10,363.27 -1.04% 4.35%
DAX Index
24,985.82 1.42% 2.02%
Nikkei Average
71,250.06 7.92% 41.54%
Straits Times
5,192.70 3.32% 11.76%
Source: Refinitiv
[1]Value as on Jun 18,
2026
U.S.
•U.S. equity markets mostly rose as a
technology-led rebound lifted sentiment,
supported by gains in AI sector stocks and
resilient economic data, even as hawkish
signals from the U.S. Federal Reserve and
expectations of potential interest rate
increases kept investors cautious about
the policy outlook.
Europe
•European equity markets mostly rose as easing Middle East tensions and a U.S.-Iran
understanding drove oil prices lower, supporting risk appetite.
Asia
•Asian equity markets mostly rose after the U.S. President announced a tentative peace
deal with Iran, easing investor concerns about inflationary pressures and reducing the
need for interest rate hikes. However, a cautious undertone prevailed after the Swiss
Foreign Ministry said U.S. talks with Iranian negotiators on a pact to end the Middle East
conflict had been postponed.
Global Equity Markets
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
4.41
4.42
4.43
4.44
4.45
4.46
4.47
4.48
15-Jun 16-Jun 17-Jun 18-Jun
Yield in %
US 10-Year Treasury Yield Movement
Source: Refinitiv
12
•Yields on the 10-year U.S. Treasury fell
by 4 bps to close at 4.45% from the
previous week’s close of 4.49%.
•U.S. Treasury prices rose as oil prices
declined on optimism about a potential
deal between the U.S. and Iran.
•However, gains were limited as
investors digested a string of strong
economic data, the U.S. Federal
Reserve’s decision to hold interest rates
steady, and the debut of the new U.S.
central bank Chair, which signaled a
likely shift toward tighter policy.
Global Debt (U.S.)
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
6.00
7.00
8.00
9.00
10.00
11.00
19-May-26 4-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($/Barrel)
80.36 90.19
Gold ($/Oz)
4,160 4,218.77
Gold (Rs/10 gm)
144,606 147,367
Silver ($/Oz)
64.90 67.98
Silver (Rs/Kg)
231,829 241,306
Source: Refinitiv Value as o
n Jun 19,
2026
Gold
•Gold prices ($/oz) fell amid expectations
that central banks, including the Federal
Reserve, will raise interest rates to curb
inflation. Prices also declined due to a
stronger dollar and higher Treasury yields.
Brent Crude
•Brent crude oil prices fell amid easing
geopolitical tensions after the U.S.
President and his Iranian counterpart
remotely signed a preliminary agreement
to end the 110-day conflict.
Baltic Dry Index
•The index fell over the week due to
sluggish capesize and panamax activities.
Commodities Market
05-Jan-24
19-Jun-26
-10.90%
-1.39%
-4.52%
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
9.40
9.50
9.60
9.70
9.80
9.90
10.00
10.10
19-May-26 4-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
94.47 95.38
Pound Sterling
124.60 127.84
EURO
108.03 110.36
100 Yen
58.55 59.50
Source: Refinitiv Figures in INR , *Value as on Jun
19, 2026
Rupee
•The Indian rupee rose against the U.S. dollar as
lenders and exporters aggressively cut their
dollar positions.
Euro
•The euro fell against the U.S. dollar after a
hawkish hold by the Federal Reserve triggered
bets on rate hikes.
Pound
•The British pound fell against the U.S. dollar
after a hawkish hold by the Federal Reserve
triggered bets on rate hikes.
Yen
•The Japanese yen fell against the U.S. dollar
after a hawkish hold by the Federal Reserve
triggered bets on rate hikes.
Currencies Markets
25-Jan-24
19-Jun-26
-0.95%
-1.60%
-2.11%
-2.53%
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
15
The Week that was…
15th Jun to 19th Jun
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
16
The Week that was (Jun 15 – Jun 19)
Date Events
Present
Value
Previous
Value
Monday,
Jun 15, 2026
• India WPI Inflation YoY MAY
9.68% 8.26%
• India Balance of Trade MAY
$
-
28.21B
$
-
28.38B
• Eurozone Wholesale Price Index (MoM) (May)
-0.60% 2.00%
Tuesday,
Jun 16, 2026
• Bank of Japan Interest Rate Decision
1.00% 0.75%
• China Retail Sales (YoY) (May)
-0.60% 0.20%
• U.S. Housing Starts (MoM) (May)
1.177M
1.392M
Wednesday,
Jun 17, 2026
• U.S. Fed Interest Rate Decision
3.75% 3.75%
• U.S. Retail Sales (MoM) (May)
0.90% 0.40%
Thursday,
Jun 18, 2026
• Bank of England Interest Rate Decision
3.75% 3.75%
• U.S. Initial Jobless Claims
226K 230K
Friday,
Jun 19, 2026
• Eurozone Producer Price Index (MoM) (May)
0.30% 1.20%
• U.K. Retail Sales (MoM) (May)
1.20% -1.00%
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
17
The Week Ahead
22nd Jun to 26th Jun
Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.
18
The Week Ahead
Day Event
Monday,
Jun 22, 2026
•
People’s Bank of China Interest Rate Decision
•
Eurozone Consumer Confidence (Jun) Prel
Tuesday,
Jun 23, 2026
•
Germany HCOB Composite PMI (Jun) Prel
•
Eurozone HCOB Services PMI (Jun) Prel
•
U.S. Redbook Index (YoY)
•
U.S. S&P Global Manufacturing PMI (Jun) Prel
Wednesday,
Jun 24, 2026
•
U.S. New Home Sales (MoM) (May)
•
U.S. MBA Mortgage Applications
•
U.S. API Weekly Crude Oil Stock
Thursday,
Jun 25, 2026
•
Japan Coincident Index (Apr)
•
U.S. Continuing Jobless Claims
•
U.S. Core Personal Consumption Expenditures - Price Index (MoM) (May)
•
U.S. Initial Jobless Claims
•
U.S. Personal Income (MoM) (May)
Friday,
Jun 26, 2026
•
U.S. Michigan Consumer Expectations Index (Jun)
•
U.S. Goods Trade Balance (May) Prel
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.
