WEEKLY REPORT
Indian equity markets snapped their two-week winning streak. The decline was driven by a combination of global and domestic headwinds, including uncertainty around US–Iran negotiations, which pushed crude oil prices higher, and a weakening rupee added to the pressure on markets.
For the week, the BSE Sensex declined by 1,812.25 points, or 2.30%, to close at 76,681.29, while the Nifty 50 fell 455.6 points, or 1.87%, to settle at 23,897.95.
A mixed trend was observed across sectors during the week, with the Nifty IT index plunging 10%, marking its steepest weekly decline since March 2020. Nifty Consumer Durables, Nifty Auto, Nifty Private Bank, Nifty Realty, and Nifty Metal also ended lower. On the positive side, Nifty Energy, Nifty FMCG, Nifty Media, and Nifty Healthcare indices posted gains.
The total market capitalisation of BSE-listed companies declined by over Rs 4 lakh crore during the week, with HCL Technologies witnessing the sharpest erosion, followed by Infosys, Tech Mahindra, and Tata Consultancy Services. In contrast, Trent, Hindustan Unilever, and NTPC saw gains in their market capitalisation.
Among the broader market indices, both Nifty Mid-cap index and the Nifty Small-cap indices ended lower by 0.8 and 0.1 percent this week.
Foreign Institutional Investors (FIIs) remained net sellers throughout the week, offloading equities worth Rs 17,139.86 crore. In contrast, Domestic Institutional Investors (DIIs) emerged as net buyers, purchasing equities worth Rs 9,782.05 crore during the same period.
The Indian rupee extended its decline during the week, depreciating by 133 paise to settle at 94.25 against the US dollar on April 24, compared with 92.92 in the previous week.
ECONOMY
West Asia Crisis Disrupts Global Oil Supply
Disruptions in the Strait of Hormuz have tightened global supply chains and reduced inventories. The conflict has wiped out over 13 million barrels/day of oil supply, one of the largest disruptions ever. According to the International Energy Agency (IEA), the impact goes beyond oil, affecting metals, fertilisers, and global trade flows.
FII Flows Turn Positive After 7 Weeks
India recorded a net inflow of $106 million, marking the first positive weekly flow in seven weeks, even as global liquidity conditions remained supportive for a fourth consecutive week following geopolitical de-escalation. Selling pressure has eased significantly after ~$5 billion outflows in previous weeks.
STOCKS IN NEWS
Alkem Laboratories
Alkem Laboratories shares declined over 7 percent this week, after the company announced the resignation of its Chief Executive Officer, Vikas Gupta. The company said that Gupta will continue in his role until June 30, 2026, to ensure a smooth transition of responsibilities.
PNB Housing Finance
The shares of PNB Housing Finance rose over 11 percent this week as the Profit grows 14.4% to Rs 648.7 crore, versus Rs 567.1 crore. Net interest income rises 8.2% to Rs 796 crore vs Rs 735.8 crore. Board recommends final dividend of Rs 8 per share for FY26.
Waaree Energies
Shares of Waaree Energies declined 5.18 percent this week after the US Commerce Department announced preliminary anti-dumping duties on solar cells and panels imported from India, Indonesia and Laos, the latest in a string of tariffs imposed over a decade on solar imports from Asia. Vikram Solar shares also declined by 2%.
Bharat Coking Coal
Shares of Bharat Coking Coal Ltd (BCCL), a recently listed subsidiary of Coal India Ltd, fell almost 4 percent this week after the company reported a 15 percent fall in revenue for the fourth quarter at Rs 3,282.95 crore, compared to Rs 3,865.79 crore in the year-ago period.
Source – Moneycontrol, Reuters
