Equity & Indian Market Developments

• Indian equities remained volatile with benchmark indices ending marginally positive for the week, supported by improving global cues and easing geopolitical concerns.
• Nifty 50 closed near 23,719 (+0.3% WoW), while broader markets outperformed with Midcaps gaining ~1.5%.
• India VIX declined, indicating easing market volatility and improving investor sentiment.
• FIIs remained volatile sellers, while strong DII inflows continued to support markets.
• IT outperformed on rupee weakness and defensive buying, while FMCG and Media witnessed profit-booking amid consumption concerns.

Global Market Developments

• Global equities remained largely positive, led by gains in the US, Europe and Japan amid resilient economic data and easing geopolitical tensions.
• US markets touched fresh highs supported by technology stocks and policy optimism.
• Dollar strength and uncertainty around US Fed policy continued to keep emerging market currencies and risk assets volatile.
• Brent crude remained elevated above $100/bbl amid ongoing Middle East uncertainty despite recent corrections.

Fixed Income & Debt Market

• Indian bond yields edged higher amid concerns around inflation, fiscal pressures and currency weakness.
• The 10-year benchmark G-Sec yield rose to ~7.09% during the week.
• Debt markets continued to monitor RBI policy stance, liquidity conditions and global rate expectations.

Commodity Updates

Gold

• Gold prices declined for the second consecutive week due to hawkish Fed commentary and US dollar strength.

Silver

• Silver witnessed mild correction amid rising US rate-hike expectations but retained a structurally bullish undertone.

Crude Oil

• Crude oil prices corrected sharply after easing geopolitical tensions and optimism around a possible Iran-related agreement.
• Technically, crude remains weak in the near term with volatility likely to persist.

Copper

• Copper prices remained firm, supported by strong demand expectations from infrastructure, green energy and data-centre investments.

Macro Economic Updates

• India’s core sector output rose 1.7% YoY in April, led by cement and steel production growth.
• Net FDI inflows improved sharply in FY26, supported by stronger gross inflows and reinvested earnings.
• India’s trade deficit widened in April due to faster growth in imports relative to exports.
• Forex reserves remained comfortable near the $690 billion mark, supporting external stability.
• Rising digital payments and strong credit card transaction growth continue to reflect improving financial formalisation and consumption trends.

Best Regards

Alpha Research

Disclaimer: This report is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any financial instrument. The information is based on publicly available sources believed to be reliable, but accuracy and completeness are not guaranteed. Views expressed are subject to change without notice. Investors should conduct their own due diligence and consult a qualified financial advisor before making investment decisions.