INSIGHT DETAILS

Risk-Off Sentiment Prevails: Crude volatility and tech headwinds bring down markets

For the week ending April 24, 2026, global and Indian equity markets faced significant pressure, primarily driven by escalating geopolitical tensions and a sharp spike in crude oil prices

Indian Developments

On April 24, 2026, Markets erased gains of the week, with Nifty 50 and Sensex falling by -1.9% and -2.3% respectively. Higher crude prices, with Brent crossing USD 106 per barrel, raised concerns about currency pressure, and rising costs for oil dependent sectors. The sharp depreciation in INR, and steep rise in FII outflow further dented the market sentiment. India VIX appreciated by approximately 15% to 19.71 since last friday, highlighting the increasing market jitters

The broader markets also declined, with the Nifty 500 down by -1.3%, Nifty 100 by -1.6%, Nifty Midcap 150 by -0.8%, and Nifty Smallcap 250 by -0.1%.

Sectoral Developments

While all sector indices ended Friday in red, IT was the biggest laggard following disappointing quarterly earnings. There was broad based sell off across sectors.

Major Gainers in the week: Nifty Energy was the standout performer, ending the week with a gain of 2.6%. Other gainers included Nifty FMCG (+2.2%) and Nifty Media (+1.6%)

Sectoral Laggards: Nifty IT tumbled by -5.3% on Friday, and -10.3% over the course of the week. Other laggards include Nifty Auto (-3.0%), Nifty Services Sector (-2.5%), Nifty Financial Services (-1.4%), Nifty Realty (-1.1%), and Nifty Metal (-1.0%)

Global Developments

Global market sentiments were weighed down by uncertainty regarding extension of the US-Iran ceasefire and its immediate impact on energy security.

• U.S. Markets: Tech heavy NASDAQ index rose by 1.39% this week, basis positive news by Intel on their Q2 revenue. Dow Jones was up by 1.51% and S&P 500 Index was up by 0.95%
• European Markets: European markets were trading lower as investors assessed the situation regarding Iran ceasefire extension, economic updates, Germany’s Economics Ministry halving the growth forecast for 2026, and a flurry of corporate earnings. Major indices ended the week in red on Friday – Euro Stoxx was down by -2.38%, FTSE 100 was down by -2.13%, DAX by -1.67%
• Asian Markets: Performance was mixed across Asia; Japan and South Korea climbed up in the week, with Nikkei up by 2.12% and KOSPI by 4.58% on the back of positive sentiment

Other Markets

• Brent Crude: $103.99 per barrel
• Rupee ended the week at ?94.25 against the US dollar
• 10-Year Benchmark Yield: 6.94%
• Gold prices closed at Rs 1,50,034 per 10 grams.

Source: www.nseindices.com; MCX Gold Prices; Economic times, Bloomberg.

Data for week ended on April 24, 2026.

Disclaimers:

The views and investment tips expressed by experts are their own and are meant for informational purposes only and should not be construed as investment advice. Investors should check with their financial advisors before taking any investment decisions.

The word ‘more’ does not imply more returns or assurance of scheme performance.it refers to the additional value provided by the joint venture, as compared to Baroda AMC and BNP Paribas AMC individually.

In the preparation of the material contained in this document, Baroda BNP Paribas Asset Management India Ltd. (“AMC”) (formerly BNP Paribas Asset Management India Private Limited) has used information that is publicly available, including information developed in-house. The AMC, however, does not warrant the accuracy, reasonableness and/or completeness of any information. This document may contain statements/opinions/ recommendations, which contain words, or phrases such as “expect”, “believe” and similar expressions or variations of such expressions that are “forward looking statements”. Actual results may differ materially from those suggested by the forward looking statements due to risk or uncertainties associated with our expectations with respect to, but not limited to, exposure to market risks, general economic and political conditions in India and other countries globally, which have an impact on our investments, the monetary and interest policies of India, inflation, deflation, unanticipated turbulence in interest rates, foreign exchange rates, equity prices or other rates or prices, etc. The AMC (including its affiliates), Baroda BNP Paribas Mutual Fund (“Mutual Fund”), its sponsor / trustee and any of its officers, directors, personnel and employees, shall not be liable for any loss, damage of any nature, including but not limited to direct, indirect, punitive, special, exemplary, consequential, as also any loss of profit in any way arising from the use of this document in any manner. The recipient alone shall be fully responsible / liable for any decision taken based on this document. All figures and other data given in this document are dated and may or may not be relevant at a future date. Prospective investors are therefore advised to consult their own legal, tax and financial advisors to determine possible tax, legal and other financial implication or consequences of subscribing to the units of the schemes of Baroda BNP Paribas Mutual Fund.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

Download Pdf

View All