Key Market Insights - Altifi Weekly Bulletin | 17 April 2026

Economy and regulatory updates

• Government data showed that India’s retail inflation rose to 3.40% on year in March from 3.21% on-year in February.
• Wholesale inflation, meanwhile, rose to 3.88% on-year from 2.13% on year, driven by higher prices of crude, power and manufactured goods amid the Middle East conflict.
• India's merchandise trade deficit narrowed sharply to $20.67 billion in March. India's merchandise exports rose to $38.92 billion in March 2026 compared to $36.61 billion in February 2026, while imports fell to $59.9 billion from $63.71 billion.
• The International Monetary Fund (IMF) raised India’s growth forecast for this financial year to 6.5%, up from 6.4% projected in January and 6.2% in October last year, citing carryover from a strong 2025 performance and reduction in US tariffs to 10% from 50%, which offset the negative impact of the Iran war.
• The Asian Development Bank raised its forecast for the country’s economic growth for fiscal 2027 to 6.9% from 6.5%.
• The World Bank approved a $225 million loan for a highway modernisation project in Rajasthan, which will benefit more than 3 million people, improve connectivity and create jobs.
• The government approved 52 new applications under the third round of the Production Linked Incentive (PLI) scheme for textiles.
• The Reserve Bank of India (RBI) proposed changes in the criteria for identifying upper-layer non-banking finance companies (NBFCs), pitching for an asset-size-based approach as against the earlier parametric system and inclusion of state-run entities.
• The SEBI extended registration validity for not-for-profit organisations on the Social Stock Exchange, allowing their enrolment as NPOs for three years without raising funds, and lowered the minimum subscription requirement for issuing zero-coupon zero principal instruments.
• The SEBI has permitted issuers to increase or decrease IPO size by up to 50% without refiling their draft red herring prospectus (DRHP), easing the previous 20% limit. This relaxation is valid until September 30.

Source: MOSPI,RBI

Indian debt market update

• The interbank call money rate ended higher at 5.11% in the week ended April 17 compared with 4.75% in the week ended April 10.
• The yield on the 10-year benchmark 6.48% Government Security (GS) 2035 paper closed marginally lower at 6.91% on April 17 compared with 6.92% on April 10.
• Bond yields remained largely unchanged during the week, as uncertainty around potential US–Iran de-escalation talks weighed on risk sentiment.
• Prospects for peace talks swung back and forth through the week, which kept oil prices at elevated levels, reinforcing concerns over imported inflation. The US President said a deal to ease tensions with Iran could be reached “soon,” without offering further details on timing or scope.
• In the weekly debt sale held on April 17, the RBI auctioned 6.36% GS 2031 and 6.90% GS 20265 for a total notified amount of Rs 33,000 crore.

Source : Crisil Fixed Income Database, RBI *Weighted Average Yield ^Data as of 10th April 2026 vs 3rd April 2026 vs 6th March 2026 respectively

Source: Crisil Fixed Income Database; *Weighted Average Yield

Indian equity market updates

• Indian equities ended higher during the week driven by fluctuating geopolitical sentiment and oil price volatility. The markets initially declined amid rising crude prices and dim conflict resolution prospects, then recovered on intermittent fall in oil prices and renewed West Asia peace negotiations. Profit-taking emerged before quarterly earnings announcements, though optimism surrounding Iran-US de-escalation ultimately supported with the markets recording gains at the close of the week. The BSE Sensex and Nifty 50 rose 1.22% and 1.26%, respectively.
• All the sectors ended higher with power, capital goods (CG) and metals gaining the most. The BSE Power, BSE CG and BSE Metal rose 6.78%, 5.45% and 4.05%, respectively.
• Weekly flows: Domestic Institutional Investors (DIIs) recorded net outflows of Rs 5,875.86 crore, while Foreign Institutional Investors (FIIs) saw net outflows of Rs 251.47 crore.
• MTD trend: DIIs reported net inflows of Rs 29,696.62 crore, whereas FIIs registered net outflows of Rs 39,224.10 crore.
• YTD positioning: DIIs remain net buyers at Rs 2,73,252.31 crore, while FIIs stand as net sellers at Rs 2,02,854.03 crore.

Source : BSE, NSE

Source: SEBI, NSE

Global Equity Market Summary

• US stocks ended higher during the week, driven by Middle East ceasefire optimism and diplomatic progress. Major indices achieved record closing highs as investors rotated into technology stocks, signalling renewed risk appetite.
• Trading moderated towards the end of the week as market participants monitored ongoing negotiations and inflation data, reflecting cautious consolidation after the rally.
• Britain's FTSE index declined marginally during the week, amid volatile Middle East developments and shifting investor sentiment. The benchmark fluctuated as ceasefire hopes alternated with diplomatic setbacks, while sector performance remained mixed.
• Overall, cautious sentiment prevailed as market participants closely monitored ongoing peace negotiations and geopolitical developments.
• Asian equities closed higher this week. Japan's Nikkei index ended higher during this week, boosted by optimism over a resolution to the Middle East conflict and lower WTI oil prices, but gains were limited by tech stock selloffs and geopolitical uncertainties.
• Hong Kong's Hang Seng Index ended higher during the week, boosted by AI- and gold-related stocks, as US-Iran talks raised hopes for a diplomatic resolution to the Middle East conflict and crude oil prices fell.
• China's Shanghai Composite Index closed higher boosted by better-than-expected economic data for the first quarter of 2026.
• Positive global sentiment, especially hopes of easing geopolitical tensions in the Middle East, also helped.

Source: Websites of respective stock exchanges; *Data as on April 16

Global Yield

• US Treasury yield rose marginally mainly due to strong economic data, indicating continued resilience in the economy.
• Retail sales for March 2026 came in firm on a month-on-month basis, reflecting steady consumer demand. This indicator supported the view that economic activity remains strong, thereby keeping yields elevated.
• At the same time, higher brent crude oil prices kept inflation concerns intact, preventing yields from falling sharply. Additionally, lack of major fresh triggers kept yields moving in a narrow range during the week.
• The yield on the 10-year benchmark treasury bond ended at 4.32% on April 16 compared with 4.31% on April 10.

Source: Financial Websites *Data as on April 16

Commodities and Currency

• Crude oil prices fell during the week on the NYMEX to $ 94.69 per barrel on the NYMEX on week on 16, April 2026 from $ 96.57 on 10, April, 2026 as hopes of renewed nuclear talks between the US and Iran eased concerns over a potential supply disruption.
• Gold prices rose this week Rs 1,51,655 per 10 grams in week on 17, April 2026 from Rs 1,50,327 per 10 grams in week on 10, April 2026 driven by stronger safe-haven demand.
• Silver prices rose to Rs 2,49,940 per kg on week on 17, April 2026 from Rs 2,39,934 per kg on week on 10, April 2026, due to steady industrial demand and positive momentum in commodities.
• The rupee closed lower at Rs 92.72 on 17, April 2026 against the US dollar this week, as rising crude oil prices and weaker foreign fund inflows weighed on the currency in the early part of the week. However, losses were partially trimmed later due to optimism over a potential West Asia peace deal.

*Data as on April 16, 2026 Source: Respective commodity exchanges, Ibjarates.com

Source: Financial website

Global Economic

• The International Monetary Fund cut its growth outlook to 3.1% for 2026 due to Iran war-driven energy price spikes and supply disruptions and warned that the global economy would teeter on the brink of recession if the conflict worsens and oil stays above $100 per barrel through 2027.
• US annual inflation rate jumped to 3.3% in March 2026, compared to 2.4% in both February 2026 and January 2026 while the annual core inflation rate rose to 2.6% from 2.5%.
• US industrial production increased 0.7% year-on-year in March 2026, the least since June last year, following a downwardly revised 1.2% rise in February 2026.
• Eurozone annual inflation rate edged up to 2.6% in March 2026 compared to 1.9% in February 2026 annual core inflation rate eased to 2.3% from 2.4%.
• The United Kingdom GDP expanded 1% year-on-year in February 2026, compared to a downwardly revised 0.7% expansion in January 2026.
• The Chinese economy expanded 5.0% in Q1 2026, accelerating compared to 4.5% in Q4 2025.
• Japan Industrial Production increased 0.40% in February 2026 compared to 0.70% in January 2026.

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