Nifty 50

Middle East War Poses Greatest Credit Risk for Asia-Pacific's Financial Institutions, S&P Says

The Middle East war's spillover effects serve as the largest credit risk for Asia-Pacific financial institutions, S&P Global Ratings said in a Thursday release.The region's banks are not directly exposed to the Middle East, while indirect exposure is manageable, S&P Asia-Pacific sector lead for financial institutions Gavin Gunning said.Lenders also have ample buffers to absorb linked constraints at current rating levels under a scenario of a deal that will open the Strait of Hormuz by the end of May, Gunning said.However, a downside scenario of a prolonged conflict could cause a 25% rise in credit losses for banks, S&P said.This scenario would mean larger increases in credit losses to total loans in Vietnam, Indonesia, and India, the rating agency said.China will account for the largest share in the total forecast credit losses at about $130 billion.Other countries' banking systems will be stronger at current rating levels, given their buffers, S&P said.Nonbank fund finance will remain a talking point, albeit being more muted, especially for US funds amid uncertainties in the software sector, the rating agency said.Al is also a major concern given the diverging impact it has on the ratings of the region's financial institutions in the coming years, according to S&P.

ADB Cuts Economic Growth Projections for Developing Asia Amid Middle East Crisis

The Asian Development Bank sharply downgraded its economic growth forecasts for developing Asia and the Pacific while raising inflation projections, citing prolonged disruptions from the Middle East conflict that are driving up energy prices and tightening financial conditions.The bank now expects regional growth of 4.7% in 2026 and 4.8% in 2027, down from its earlier forecast of 5.1% for both years. Meanwhile, inflation is projected to accelerate to 5.2% this year before slowing to 4.1% in 2027, according to the latest ADB report.ADB said the revisions reflect sustained pressure on oil and gas prices, with crude expected to average about $96 per barrel in 2026, significantly higher than pre-conflict levels, weighing on fuel-importing economies.Under a more severe scenario, growth could ease further to 4.2% this year and 4% next year, while inflation may spike to 7.4% in 2026, the bank added, urging targeted fiscal support and measured monetary responses.

Indian Equities End Higher on Wednesday Amid Positive Fiscal Q4 Earnings

Indian benchmark indices ended higher on Wednesday, supported by positive fiscal Q4 earnings and value buying across select sectors.A large part of intraday gains was, however, trimmed in late trade due to profit booking.The BSE Sensex rose 609.45 points, or 0.8%, to close at 77,496.36, while the NSE Nifty 50 gained 181.95 points, or also 0.8%, to settle at 24,177.65.The market saw early support from selective buying, especially in auto stocks, which helped indices move higher in morning trade. However, the momentum was lost later as investors locked in gains at higher levels.Rising crude oil prices also kept sentiment in check amid concerns about supply disruptions if the Strait of Hormuz remains closed for longer period.Among stocks, Vedanta (NSE:VEDL, BOM:500295) rose nearly 5% after reporting a sharp jump in fiscal Q4 profit to 67.0 billion rupees from 34.8 billion rupees a year earlier.Shelter Pharma (BOM:543963) gained nearly 4% after securing a $144,000 export order for pharmaceutical supplies.

India's Industrial Production Slows to 4.1% in March

India's production growth, measured by the Index of Industrial Production, slowed to 4.1% in March from 5.2% in February, according to data released by the Ministry of Statistics and Programme Implementation (MoSPI) on Tuesday.In March 2025, India's IIP growth rate was at 3.9%.The quick estimates of IIP came in at 173.2 in March, up from 166.3 in the same month in 2025.The manufacturing sector, which carries the largest weight in the index, grew at 4.3% in March from 4.0% a year earlier. It was, however, lower than the 5.9% growth in February.Mining output grew 5.5% in March against 1.2% in the corresponding period of the previous year. Electricity production, however, fell to 0.8%, compared with 7.5% in the year-ago period.The indices of industrial production for the mining, manufacturing, and electricity sectors for March stood at 166.8, 169.4, and 221.3, respectively.

India's Industrial Production Shows Moderate Growth of 4.1% in March

Market Chatter: Acko Insurance Eyes Listing in Early 2027, Targets Up to $2.5 Billion in Valuation

Acko Insurance is targeting a listing in early 2027, Reuters reported Monday, citing people familiar with the matter.The Indian insurer is preparing for an IPO and eyeing a valuation of between $2 billion and $2.5 billion, the report said.The company may raise $300 million to $500 million through the offering, which is expected to include a mix of fresh issue and secondary share sales, the report said, citing one of the sources.Acko is likely to confidentially file draft IPO papers with the Securities and Exchange Board of India in the next two to three months, the sources reportedly told Reuters.Morgan Stanley, ICICI Securities and Kotak Mahindra Capital have been appointed to manage the issue, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Indian Equities Slip on Tuesday as Profit Booking in Banking Sector Weighs

Indian benchmark indices ended lower on Tuesday as profit booking in banking heavyweights and mixed global cues weighed on the market.The BSE Sensex fell 416.72 points, or 0.5%, to close at 76,886.91, while the NSE Nifty 50 declined 97.00 points, or 0.4%, to settle at 23,995.70.Sentiment remained fragile amid stalled U.S.-Iran talks, rising crude oil prices, and weakness in the rupee.Investors also stayed cautious ahead of the U.S. Federal Reserve's policy decision, with expectations of unchanged interest rates.Among stocks, Dhanlaxmi Bank (NSE:DHANBANK, BOM:532180) surged 14% after reporting a rise in fiscal Q4 net profit to 434.9 million rupees from 289.8 million rupees a year earlier.HDB Financial Services (NSE:HDBFS, BOM:544429) raised 3.25 billion rupees through the allotment of non-convertible debentures on a private placement basis.

Indian Equities Rebound on Monday as Value Buying, US-Iran Talk Hopes Lift Market

Indian benchmark indices closed higher on Monday, snapping a three-day losing streak, as value buying and expectations of renewed U.S.-Iran talks supported the market.The BSE Sensex rose 639.42 points, or 0.8%, to close at 77,303.63, while the NSE Nifty 50 gained 194.75 points, or also 0.8%, to settle at 24,092.70.Sentiment improved on expectations that the US and Iran may resume talks soon. Stronger-than-expected quarterly earnings also helped boost investor confidence.Among stocks, Tamilnad Mercantile Bank (NSE:TMB, BOM:543596) gained 7% after reporting a rise in fiscal Q4 net profit to 3.74 billion rupees from 2.92 billion rupees a year earlier. Earnings per share increased to 23.60, while interest income rose to 15.5 billion rupees.Sun Pharmaceutical Industries (NSE:SUNPHARMA, BOM:524715) also jumped 7% after agreeing to acquire US-based Organon & Co in an all-cash deal valued at $11.8 billion. The company will purchase shares at $14 each and plans to fund the transaction through cash and bank financing.

Indian Equities Extend Losing Streak on Friday as Uncertainty Over US-Iran Talks Weighs

Indian benchmark indices declined for a third straight session on Friday as continued uncertainty around U.S.-Iran talks and rising crude oil prices kept pressure on the market.The BSE Sensex fell 982.71 points, or 1.3%, to close at 76,681.29, while the NSE Nifty 50 dropped 275.10 points, or 1.1%, to settle at 23,897.95.Sentiment remained weak as there were no clear signs of progress on a potential peace deal between the U.S. and Iran. Despite the ceasefire, tensions persisted, while the second round of talks did not take place.Crude oil prices have risen sharply this week, adding to investor concerns.Among stocks, Vinyl Chemicals (India) (NSE:VINYLINDIA, BOM:524129) plummeted 10% after reporting a drop in fiscal Q4 profit to 46.5 million rupees from 72.7 million rupees a year earlier.Seamec (NSE:SEAMECLTD, BOM:526807) fell nearly 2% after its vessel "Seamec Swordfish" went into downtime from April 23 due to technical issues. The company said repairs are underway and operations will resume in due course.

Indian Equities Extend Losses on Thursday as Banking Sell-Off, Crude Oil Surge Weigh

Indian benchmark indices declined sharply on Thursday as selling in banking stocks and higher crude oil prices dragged the market lower.The BSE Sensex fell 852.49 points, or 1.1%, to close at 77,664.00, while the NSE Nifty 50 dropped 205.05 points, or 0.8%, to settle at 24,173.05.Sentiment remained weak amid rising tensions in the Middle East and uncertainty around U.S.-Iran talks. Reports of fresh maritime incidents and lack of clarity on the next round of negotiations kept investors cautious despite an extension of the ceasefire.Union Bank of India (NSE:UNIONBANK, BOM:532477) declined over 7% after reporting a rise in fiscal Q4 profit to 55.0 billion rupees from 50.1 billion rupees a year earlier.Cipla (NSE:CIPLA, BOM:500087) gained nearly 6% after its subsidiary received U.S. FDA approval for Albuterol Sulfate Inhalation Aerosol. The product is expected to be launched in the first half of fiscal 2027.

India's Private Sector Growth Gathers Pace in April after Slowdown in March

India's private sector growth accelerated its pace in April after slowing down in March amid the Middle East war.The HSBC Flash India Composite Output Index, which comprises indices for the manufacturing and service sectors, rose to 58.3 in April from 57.0 in the preceding month, according to HSBC Flash PMI data released on Thursday.The seasonally adjusted index, which tracks month-on-month output across manufacturing and services, remained comfortably above the 50.0 threshold, indicating expansion."Survey participants indicated that business activity was supported by capacity expansion, better demand conditions, rising intakes of new work and tech investment," S&P said.New orders in April also grew at a quicker pace than in March.Overall business conditions in April improved to a greater extent than in March indicated by the HSBC Flash India Manufacturing PMI rising to 55.9 from 53.9 in March. The HSBC Flash India Services PMI Business Activity Index, also rose marginally to 57.9 in April compared with 57.5 seen in March."Manufacturing led the upturn, with faster growth in output and new orders. The survey indicated that firms are building buffer stocks to manage the uncertainties around the longevity of the supply-side shock,," Pranjul Bhandari, Chief India Economist at HSBC, said.Input cost pressures, however remained higher, and companies passed through part of the increase through higher sellingprices.The report indicated that Indian private-sector companies expected an increase in output over the next 12 months, driven by marketing efforts which will support demand for their goods and services.While projects pending approval and rising client enquiries also heightened optimism, the overall level of confidence fell since March, but was the second-highest in nearly a year-and-a-half.

Indian Equities Fall Sharply on Wednesday as IT Sell-Off, Crude Oil Rebound Weigh

Indian benchmark indices ended lower on Wednesday as a sharp decline in technology stocks and higher crude oil prices pressured the market.The BSE Sensex fell 756.84 points, or 1%, to close at 78,516.49, while the NSE Nifty 50 dropped 198.50 points, or 0.8%, to settle at 24,378.10.There was broad-based selling in IT stocks, as weaker-than-expected earnings startled investors, triggering a sharp pullback across the sector.Sentiment also remained cautious as markets awaited clarity on the next steps in U.S.-Iran negotiations. The U.S. announced an extension of the ceasefire to allow further talks, but the move appeared unilateral, with no immediate confirmation from Iran or Israel.Among stocks, HCL Technologies (NSE:HCLTECH, BOM:532281) plummeted nearly 11% after its March quarter results, released post-market hours on Tuesday, missed estimates despite a rise in profit and revenue.Tech Mahindra (NSE:TECHM, BOM:532755) fell nearly 3% after reporting an increase in fiscal Q4 profit to 13.5 billion rupees from 11.7 billion rupees a year earlier, with revenue also rising.

Indian Equities Rally on Tuesday as US-Iran Talk Hopes Boost Investor Sentiment

Indian benchmark indices ended higher on Tuesday as lower crude prices and expectations of renewed U.S.-Iran talks supported risk appetite.The BSE Sensex rose 753.03 points, or 1%, to close at 79,273.33, while the NSE Nifty 50 gained 211.75 points, or 0.9%, to settle at 24,576.60.Sentiment improved on expectations of a second round of talks between the U.S. and Iran later this week. Reports indicate that a U.S. delegation led by U.S. Vice President JD Vance may return to Pakistan for discussions, with Iran also preparing to participate after earlier reluctance.Lower crude prices and buying in banking and FMCG stocks further supported the market.Among stocks, Nestlé India (NSE:NESTLEIND, BOM:500790) surged over 7% after reporting a rise in consolidated profit to 11.1 billion rupees in fiscal Q4 from 8.73 billion rupees a year earlier. Revenue from operations increased to 67.5 billion rupees from 55.0 billion rupees.Prestige Estates Projects (NSE:PRESTIGE, BOM:533274) gained over 2% after reporting initial sales of more than 1,700 units worth over 25 billion rupees for its Hyderabad residential project.

Significant Foreign Ownership Could Benefit Indian Financial Institutions, Fitch Says

Indian financial institutions' credit profiles could gain support from sizable foreign shareholder ownership, Fitch Ratings said in a recent release.Foreign shareholding provides long-term capital and funding flexibility, business franchise improvement, and better governance standards, Fitch said.Still, Fitch does not consider foreign ownership as an innately reliable indicator of better credit fundamentals, with transactions that boost internal controls, risk management, and leadership accountability having more credit relevance.Increased interest from foreign shareholders points to growing confidence in India's long-term growth outlook and the financial industry's regulation and oversight, as well as better risk governance, Fitch said.Fitch believes there is a greater likelihood of foreign investors owning control of nonbank financial institutions rather than those of banks, as full foreign ownership of NBFIs is allowed.Minority shareholders can also have a sizable influence over NBFIs in the presence of business and operational synergies, Fitch said.

Indian Equities Edge Higher on Monday Amid Uncertainty Over US-Iran Tensions

Indian benchmark indices closed with marginal gains on Monday as ongoing uncertainty around the US-Iran situation and higher crude oil prices kept investors cautious.The BSE Sensex rose 26.76 points, or 0.03%, to end at 78,520.30, while the NSE Nifty 50 gained 11.30 points, or 0.1%, to close at 24,364.85.Market sentiment remained fragile amid mixed global cues and tensions in the Middle East. The two-week ceasefire between the U.S. and Iran is set to expire on Tuesday. Reports of renewed tensions around the Strait of Hormuz point to a possible escalation, casting doubt on the continuation of the ceasefire.Among stocks, Hindustan Organic Chemicals (BOM:500449) surged over 11% after initiating steps to restart operations at its phenol and cumene plant in Kochi, according to a Monday filing. The restart follows the resumption of liquified petroleum gas supply by Bharat Petroleum Corporation.Sterling and Wilson Renewable Energy (NSE:SWSOLAR, BOM:542760) gained over 9% after emerging as the lowest bidder for a 34.9 billion rupees EPC contract from Coal India for a large solar project in Rajasthan, according to a Monday filing. The company also secured an additional 50 MW project in Maharashtra.

Indian Equities Extend Gains on Friday as Broad-Based Buying Lifts Market

Indian benchmark indices ended higher on Friday as broad-based buying lifted markets, supported by gains in consumer goods and oil & gas stocks.The BSE Sensex rose 504.86 points, or 0.7%, to close at 78,493.54, while the NSE Nifty 50 gained 156.80 points, or also 0.7%, to settle at 24,353.55.Sentiment improved on expectations of easing tensions in the Middle East. Reports of a possible progress in U.S.-Iran negotiations and a potential extension of the ceasefire supported risk appetite.A sharp decline in crude oil prices further supported the market.In corporate developments, Bajaj Consumer Care (NSE:BAJAJCON, BOM:533229) reported a rise in consolidated profit to 636.0 million rupees in the fiscal fourth quarter from 309.8 million rupees a year earlier.Aurobindo Pharma (NSE:AUROPHARMA, BOM:524804) received U.S. FDA approval to manufacture and market Glycerol Phenylbutyrate Oral Liquid. The product is equivalent to the reference drug Ravicti and will be launched immediately, the company said in a Friday filing.

Indian Equities Slip on Thursday Amid Profit Booking in Heavyweights

Indian benchmark indices closed marginally lower on Thursday as profit booking in select large stocks offset early optimism.The BSE Sensex slipped 122.56 points, or 0.2%, to finish at 77,988.68, while the NSE Nifty 50 fell 34.55 points, or 0.1%, to close at 24,196.75.Sentiment remained mildly supported by expectations of a second round of US-Iran talks aimed at easing the ongoing conflict. Uncertainty over timing, however, kept investors cautious.On the macro side, India's Wholesale Price Index (WPI) inflation rose to 3.88% in March, up from 2.13% in February, according to government data released late on Wednesday. Goods and services exports also declined 4.58% year-on-year to $74.11 billion in March.Among stocks, HDFC Asset Management Company (NSE:HDFCAMC, BOM:541729) reported a slight dip in consolidated profit to 6.23 billion rupees in Q4 FY26 from 6.38 billion rupees a year earlier. Revenue from operations rose to 10.5 billion rupees from 9.01 billion rupees, according to its filing.Alembic Pharmaceuticals (NSE:APLLTD, BOM:533573) gained after receiving US FDA approval for Methotrexate Injection in both multi-dose and single-dose vials. The drug is used in cancer treatment as well as autoimmune conditions including rheumatoid arthritis and psoriasis.

India's Gems and Jewelry Declines 35% in March

India's overall gross exports of gems and jewelry declined sharply by 35.2% in March to $1.78 billion from $27.5 billion a year ago, amid the heightened geopolitical tensions, the Gem and Jewellery Export Promotion Council (GJEPC) ​said in a recent statement.The overall gross imports of gems and jewelry in the reported month, however, rose 16.7% year-on-year to $2.31 billion from $1.98 billion.For the full fiscal year ended March 31, the country's gems and jewelry exports declined 3.3% to $27.7 billion from $28.7 billion a year ago. Meanwhile, the gross imports of gems and jewelry grew 17% to $22.8 billion from $19.5 billion a year earlier.Exports to the US slipped 45% from a year earlier to $5.09 billion from $9.24 billion a year ago, dragged by the disruption of exports for a number of months after the US imposed reciprocal tariffs and later added a further ​25% duty on Indian goods.

India's Total Exports Decline 4.58% in March; Trade Deficit Narrows

India's total exports of goods and services declined 4.58% to $74.11 billion in March from $77.67 billion a year ago, according to data released by the Ministry of Commerce & Industry on Wednesday.Total imports also fell 5.76% year-over-year to $76.55 billion in March from $81.22 billion, leading to a trade deficit of $2.44 billion, compared with $3.55 billion a year ago.The country's exports of goods slipped to $38.92 billion in March, from $42.05 billion a year earlier, while services exports were marginally down to $35.20 billion, from $35.63 billion.On the import side, goods imports declined to $59.59 billion in the reported month from $63.74 billion a year earlier, while services imports were down to $16.96 billion from $17.48 billion.

India's Wholesale Price Inflation Accelerates to 3.88% in March

India's wholesale price inflation, measured by the Wholesale Price Index (WPI), rose to 3.88% in March from 2.13% in February, according to data released by the Ministry of Commerce and Industry on Wednesday.In the same month last year, wholesale inflation was lower at 2.25%.The rise in WPI was attributed to an increase in prices of crude petroleum and natural gas, other manufacturing, non-food articles, the manufacture of basic metals, and food articles, among others.The index for primary articles increased by 6.36% year-on-year to 197.3 in March from 192.9 in the previous month, while fuel and power inflation rose by 1.05% to 153.7 in the reported month from 147.6 in February.Manufactured products, the largest component of the WPI basket, were up by 3.39% to 149.5 in March from 148.2 a month ago.