Indian government bonds fell on Thursday, snapping a two-session rally, as an escalating Middle East war kept oil prices elevated, pressuring the rupee and dampening demand for bonds.
Despite the BSE Sensex falling 829 points to close at 76,034, four BSE 200 stocks—Aurobindo Pharma, Coal India, ABB India and NTPC—scaled fresh 52-week highs, signalling strong momentum and resilience amid broader market weakness.
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The Indian rupee plunged to a record low as Middle East tensions fueled a surge in crude oil prices. This significant rise in energy costs is expected to prompt central bank intervention to stabilize the currency. Analysts warn of amplified rupee volatility and potential growth slowdown and inflation if oil prices remain elevated, overshadowing domestic economic data.
NSE has advanced its long-awaited IPO by finalising key intermediaries, including 20 merchant bankers, eight law firms, and advisory partners.
Tile makers are facing production disruptions as the Iran Israel crisis triggers gas shortages in Morbi, forcing several plant shutdowns. While stocks of Cera, Kajaria and Somany have fallen up to 26%, analysts say organised players with higher inventories may weather the disruption better and could raise tile prices.
Portfolio management strategies delivered mixed returns in February, with a few quantitative and multicap portfolios outperforming while several small cap strategies declined. Nirmal Bang Securities’ multi cap strategy led the performance chart with an 11.21% gain, followed by Purnartha Investment Advisers and Valcreate Investment Managers.
Corporate India faces a margin headwind in FY27, with Crisil Intelligence forecasting a 50 basis point shrinkage due to rising crude and gas prices. Sectors with dual exposure to revenue and cost risks, like ceramic tiles and airlines, are most vulnerable. The duration of West Asia tensions will significantly determine the extent of margin erosion.
Shares of Indian power companies rose sharply as early summer heat pushed electricity demand higher. Limited solar output and supply constraints from LNG and hydro plants boosted thermal generation. Temperatures across key cities have been above normal. Rajkot in Gujarat recorded 42°C on Tuesday, the highest so far this year.
After a deep AI-driven selloff, US software stocks are showing signs of recovery. The S&P 500 Software Index posted its strongest weekly gain since May, supported by strong earnings growth, undervalued multiples, and large share buybacks. Investor sentiment is improving as fears of AI disruption ease.
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