Indian Developments
The Indian equity markets faced a challenging week ending April 2, 2026, as geopolitical tensions triggered a widespread "risk-off" sentiment. The benchmark Nifty 50 closed at 22,713.10, marking a weekly decline of 1.74%. Volatility surged significantly, with the India VIX jumping 11.88% to end at 25.52, reflecting heightened investor anxiety.
Broader market indices also felt the heat; the Nifty Midcap 100 fell 2.15%, while the Nifty Next 50 dropped nearly 3%. Debt markets saw a hardening of yields, with the Nifty 10 yr Benchmark G-Sec index declining by 2.04% during the week.
Sectoral Developments
Major Laggards: High-beta and rate-sensitive sectors bore the brunt of the sell-off. Nifty PSU Bank was the worst performer, crashing 5.24%. This was followed by Nifty Consumer Durables (-4.02%), Nifty Bank (-3.52%), and Nifty Realty (-3.49%).
Sectors in Green: Defying the broader market trend, the IT sector emerged as a major sanctuary for investors. The Nifty IT index surged 4.25%, bolstered by a weakening rupee and its perceived safe-haven status during global turmoil. Nifty Metal also managed a marginal gain of 0.38%.
Global Developments
Global cues remained overwhelmingly negative as investors moved toward safe-haven assets.
Other Markets
Source: www.nseindices.com; MCX Gold Prices; Economic times, Bloomberg.
Data for week ended on April 02, 2026.
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