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Markets snap six-week losing streak; settle over 5% higher amid hopes over US-Iran peace talks
Apr-10-2026

Indian benchmarks snapped six-week losing streak and ended the passing week with solid gains of over 5% on value buying. Sentiments improved amid optimism surrounding US-Iran peace talks, which is likely to ease tensions in West Asia. Besides, the World Bank and ADB projected higher growth for India, while Moody’s slashed its growth forecast. Meanwhile, RBI kept repo rate unchanged.

Some of the major developments during the week are:

March sees cooling in India’s services sector growth: India’s services sector witnessed slower expansion in March 2026, with HSBC India Services PMI Business Activity Index coming at 57.5 from 58.1 in February. HSBC India Composite PMI Output Index eased to 57.0 in March as against 58.9 in February.

RBI extends rate pause; keeps all key benchmarks intact: Amid rising global uncertainties, the Reserve Bank of India (RBI) has kept the policy repo rate under liquidity adjustment facility unchanged at 5.25% and also decided to continue with the neutral stance in its latest Monetary Policy Committee meeting.

World Bank revises India’s GDP growth projection to 6.6% for FY27: The World Bank, in its South Asia Economic Update April 2026 report, has marginally raised India's growth projections for the fiscal year 2026-27 (FY27) by 30 basis points to 6.6% compared to its October 2025 forecast of 6.3%.

ADB projects India's GDP to grow 6.9% in FY27, 7.3% in FY28: Despite a worsening global economic and geopolitical environment, Asian Development Bank (ADB) has said that India's GDP growth is projected to grow by 6.9% in the FY27, and rise to 7.3 per cent in the following fiscal.

Moody’s slashes India’s GDP growth forecast to 6% for FY27: Moody's Ratings in its credit opinion report on India has cut India's economic growth estimates for FY27 to 6% from an earlier 6.8%, noting that ongoing conflict in West Asia will moderate growth momentum and raise inflation risks.

BSE movement for the week

The Bombay Stock Exchange (BSE) Sensex jumped 4230.70 points or 5.77% to 77,550.25 during the week ended April 10, 2026. On the sectoral front, S&P BSE Realty was up by 671.09 points or 12.86% to 5,890.14, S&P BSE Auto was up by 5,480.53 points or 10.30% to 58,714.39, S&P BSE Consumer Durables was up by 4,883.06 points or 9.16% to 58,203.23, S&P BSE Capital Goods was up by 5,820.49 points or 8.77% to 72,180.77 and S&P BSE Finance was up by 982.37 points or 8.71% to 12,255.56 were the top gainers, while there were no losers on the BSE.

NSE movement for the week

The Nifty surged 1337.50 points or 5.89% to 24,050.60. On the National Stock Exchange (NSE), Nifty Next 50 gained 5683.65 points or 9.17% to 67,641.25, Bank Nifty was up by 4364.00 points or 8.47% to 55,912.75, Nifty IT was up by 589.15 points or 1.94% to 31,030.60 and Nifty Mid Cap 100 increased 4166.90 points or 7.76% to 57,843.95.

FII transactions during the week

Foreign Institutional Investors (FIIs) were net sellers in equity segment in the week, with gross purchases of Rs 66,855.25 crore and gross sales of Rs 95,231.11 crore, leading to a net outflow of Rs 28,375.86 crore. They also stood as net sellers in the debt segment with gross purchases of Rs 13,494.99 crore against gross sales of Rs 25,304.59 crore, resulting in a net outflow of Rs 11,809.60 crore. In hybrid segment, FIIs stood as net sellers, with gross purchases of Rs 126.41 crore and gross sales of Rs 171.95 crore, leading to a net outflow of Rs 45.54 crore.

Industry and Economy

Finance Minister Nirmala Sitharaman has said that strong fiscal discipline has given India enough flexibility to increase capital expenditure, support sectors affected by the West Asia crisis, and allow the Reserve Bank of India to consider further rate cuts. She explained that sound public finance helps a country handle economic downturns better. While many nations with high debt struggle to act, India has enough fiscal space due to years of careful planning. This has enabled the government to cut fuel taxes and provide targeted relief to key sectors. Recalling India’s ‘Fragile Five’ economy tag over a decade ago, she said India is now the fastest-growing major economy in the world.

Outlook for the coming week

Indian equity markets ended the passing week with hefty gains supported by easing geopolitical tensions after the United States and Iran agreed to a conditional two-week ceasefire, allowing shipping to resume through the Strait of Hormuz.

On the economy front, market-participants would be eyeing the Consumer Price Index (CPI) and Wholesale Price Index (WPI), scheduled to be release in coming week. Moreover, Unemployment rate and Balance of Trade data are going to be out on April 15. Bank Loan Growth data, Deposit Growth data, Foreign Exchange Reserves data are scheduled to be release on April 17.

The coming week will mainly be guided by earnings, as lots of important companies will be announcing their numbers like ICICI Prudential Asset Management, HDFC Life Insurance Company, Wipro, Mastek, HDFC Bank, ICICI Bank etc.

On the global front, from the US, traders will be eyeing Existing Home Sales data on April 13 followed by US producer prices data, Redbook YoY on April 14, Export Prices, Import Prices, NY Empire State Manufacturing Index on April 15, Initial Jobless Claims, Philadelphia Fed Manufacturing Index, U.S. Industrial Production on April 16, Fed Balance Sheet, Baker Hughes Oil Rig Count on April 17.

Top Gainers 

  • Shriram Finance up by 15.25% was the top gainer on Nifty for the week - Shriram Finance traded higher after rating agencies -- CRISIL and ICRA upgraded its credit rating. CRISIL has upgraded its Long-Term Rating to 'AAA/Stable', while ICRA upgraded its Long-Term Rating to ‘AAA; Stable’. Besides, Mitsubishi UFJ Financial Group, Inc. has completed investment in the company on April 8.
  • Adani Enterprises up by 13.77% was another top gainer on Nifty for the week - Adani Enterprises traded higher along with other Adani group companies, after private reports indicated that Gautam Adani and his nephew Sagar Adani will seek to have a civil lawsuit filed by the US Securities and Exchange Commission dismissed by April end, on the grounds that the court lacks jurisdiction.

Top Losers 

  • Coal India down by 3.39% was the top loser of the week on Nifty - Coal India faced selling pressure as investors feared that the high operational costs, on account of increased prices of explosives and industrial diesel would weigh on the company’s earnings in the upcoming quarters. The conflict in West Asia has disrupted key raw material supply from the region, leading to spike in the prices.
  • Sun Pharmaceutical Industries down by 2.29% was another top loser of the week on Nifty - Sun Pharma traded lower amid reports that the company is planning to acquire Organon, a US-based pharma firm, with a binding offer of $12 billion. If done, this will be the largest global merger and acquisition involving an Indian pharma player.

Technical viewpoints

During the week, CNX Nifty touched the highest level of 24,074.05 on April 10 and lowest level of 22,182.55 on April 02. On the last trading day, the Nifty closed at 24,050.60 with weekly gain of 1337.50 points or 5.89 percent. For the coming week, 22,797.42 followed by 21,544.23 are likely to be good support levels for the Nifty, while the index may face resistance at 24,688.92 and further at 25,327.23 levels.

US Market

The U.S. markets traded higher during the week after Iran and the US have agreed to a conditional two-week ceasefire, during which shipping traffic will be allowed through the Strait of Hormuz.

Some of the major developments during the week are:

U.S. wholesale inventories rebound in February: Wholesale inventories climbed by 0.8% in February after falling by a revised 0.3% in January.

Consumer prices in U.S. climb 0.4% in February: The Commerce Department said its personal consumption expenditures (PCE) price index climbed by 0.4% in February after rising by 0.3% in January. 

Weekly jobless claims in U.S. climb in the week ended April 4: Initial jobless claims climbed to 219,000, an increase of 16,000 from the previous week's revised level of 203,000. 

Durable goods orders in U.S. slump 1.4% in February: The Commerce Department said durable goods orders tumbled by 1.4% in February after falling by a revised 0.5% in January.

U.S. GDP grows less than previously estimated in Q4: The increase in real gross domestic product in the fourth quarter was downwardly revised to 0.5% from the previously reported 0.7%.

European Market

European markets garnered some gains during the passing week, as investors watched the latest developments in the Middle East war.

Some of the major developments during the week are:

German exports rebound in February: Destatis said that German exports grew 3.6% month-on-month in February, reversing January's 1.5% fall. This was the biggest growth since May 2022. Shipment was expected to climb moderately by 1.0%.

Finland trade gap widens: Finland's foreign trade deficit increased in February from a year ago as imports grew amid a decline in exports. Trade deficit rose to EUR 655 million in February from EUR 250 million in the corresponding month last year.

Eurozone producer prices decline in February: The data released by Eurostat showed that Eurozone producer prices decreased 0.7% from January, slightly more than the 0.6% fall expected by market participants. Prices had increased 0.8% in January.

German factory orders recover: Driven by the substantial growth in the auto industry, German factory orders grew 0.9% on a monthly basis in February, in contrast to the 11.1% decline in January. Orders were forecasted to expand 3.0%.

Eurozone private sector growth hits 9-month low: The final composite output index of Eurozone stood at 50.7 in March, down from 51.9 in February. This was the lowest reading since last July and above the flash estimate of 50.5.

Asian Market

Asian markets, barring KLSE composite index, traded higher during the passing week, even as lingering tensions around Israeli strikes across Lebanon and the blockade of the Strait of Hormuz, despite the ceasefire agreement.

Some of the major developments during the week are:

Japan producer prices climb in March: Japan’s producer prices rose 2.6% y-o-y in March 2026, quickening from a marginally revised 2.1% increase in the prior month and topping market estimates of 2.4%.

Japan bank lending rise in March: Japan’s bank lending rose 4.8% y-o-y in March 2026, slightly accelerating from 4.5% in the prior month and marking the strongest growth since April 2021, while exceeding market expectations of 4.4%.

China's CPI inflation eases to 1% in March: China’s consumer price index (CPI) inflation eased to 1.0% in March 2026 from February’s over three-year high of 1.3%, falling short of market expectations of 1.2%.  

Bank of Korea keeps interest rates unchanged: The Bank of Korea (BoK) held its policy interest rate steady at 2.5% for the seventh consecutive meeting in April 2026, in line with market expectations.

South Korea posts record current account surplus: South Korea’s current account surplus widened to $23.19 billion in February 2026 from $13.26 billion in January. This marked the largest monthly surplus on record.
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