WEEKLY REPORT
Indian equity markets loosing streak during this week due to Higher crude prices, with Brent crude crossing $124 per barrel, raised concerns about currency pressure and rising costs for oil-dependent sectors.
For the week, the BSE Sensex rose by 48.13 points, or 0.06%, to close at 76,913.50, while the Nifty 50 fell 47.30 points, or 0.20%, to settle at 23,997.55.
Major Gainers in the week: Nifty Pharma was the standout performer, ending the week with a gain of 3.62%. Other gainers included Nifty Healthcare (+2.99%) and Nifty Energy (+2.19%).
Sectoral Laggards: Nifty PSU Bank tumbled by -5.98% over the course of the week. Other laggards include Nifty Bank (-3.96%), Nifty IT (-3.75%), Nifty Financial Services (-3.64%), and Nifty Services Sector (-3.21%).
Among the broader market indices, both Nifty Mid-cap index and the Nifty Small-cap indices ended positive by 0.28 and 1.90 percent this week.
Foreign Institutional Investors (FIIs) remained net sellers during the week, offloading equities worth Rs 13,771.50 crore. In contrast, Domestic Institutional Investors (DIIs) acted as strong buyers, purchasing equities worth Rs 11,585.20 crore over the same period, helping cushion the market from sharper declines.
The Indian rupee weakened during the week, depreciating by 65 paise to settle at ₹94.91 against the US dollar on May 2, compared with ₹94.26 in the previous week.
ECONOMY
Indian ETFs record highest
Indian Exchange Traded Funds (ETFs) saw record net inflows of more than Rs 1.81 lakh crore in FY26, the highest for any financial year so far, according to a note by Zerodha Fund House.
The inflows are more than double the previous peak of Rs 83,390 crore recorded in FY22, based on data from Association of Mutual Funds in India. Between FY21 and FY25, annual ETF inflows had remained in the range of Rs 46,000 crore to Rs 83,000 crore.
GEOPOLITICS, CRUDE PRICES AND THE ECONOMY
Progress toward a peaceful resolution to the U.S.-Israeli war on Iran appeared stalled, with the closure of the Strait of Hormuz putting upward pressure on energy prices and stoking inflation worries.
But front-month crude futures eased after Iran was reported to have submitted a fresh proposal for negotiations with Washington.
“Investors are pricing out how long they expect that supply disruption to last, and then differentiating who’s got the most sensitivity to that disruption,” said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management in Minneapolis.
STOCKS IN NEWS
Oil and Natural Gas Corporation
Stock of ONGC Rose by more than 4.48 percent this week as Brent crude prices rose for the sixth consecutive session on Tuesday, crossing the USD 111 per barrel mark, boosting upstream oil stocks while weighing on oil marketing companies.
One MobiKwik Systems
One MobiKwik Systems shares up more than 6.39 percent during this week reason behind MobiKwik Group has received an approval from the Reserve Bank of India for a non-banking financial company (NBFC) licence.
Maruti Suzuki India
Stocks of Maruti Suzuki India rose around 1.35 percent during this week because Maruti Suzuki reported a 6.5 percent year-on-year fall in Q4 consolidated net profit to Rs 3,659 crore despite a 28 percent rise in revenue, as higher costs, lower other income and increased tax outgo weighed on earnings.
MTAR Technologies
MTAR Tech shares sky up more than 28 percent higher during this week, A key driver behind the surge is MTAR’s positioning in the artificial intelligence infrastructure supply chain. This has shifted the narrative of MTAR from “industrial precision parts company” to “AI data centre power infra pick” which has led to strong re rating of the stock and can also see strong order inflows, believe investors.
Source – Moneycontrol, bnpparibas
