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Below the Quote on Weekly market by Mr. Jyoti Prakash, Managing Partner, Equity and PMS, AlphaaMoney

Nifty 50 fell for seven straight sessions. Indian equity investors are on the edge as tariff worries resurface with Trump proposing tariffs on pharmaceuticals. Nifty Pharma index’s underperformance vis-à-vis Nifty 50 is likely to increase. The IT sector too continues to struggle as worries linger over visa fees.

Indian G-Sec traded in a range while waiting for the 2nd half borrowing calendar. Banking system liquidity deficit rose during the week aided by stronger tax collections, increased cash withdrawals and RBI forex market interventions. RBI announced variable repo rate operations. Markets will react to the outcome of the MPC meeting scheduled on the 1st of October.

The Indian rupee is coming under increased strain with rising dollar demand linked to gold imports coinciding with concerns over the impact of a U.S. visa fee hike. The weakness is likely to persist with the announcement of tariffs on Pharma.

Oil jumped to a 7-week high as US crude stocks unexpectedly fell, tightening supply amid Iraq, Venezuela & Russia export woes. Rising Oil prices is likely to raise the global bond yields and may lead to correction in global equities

Gold and Silver rose to record highs backed by solid inflows into ETFs. The value of inflows into global Gold ETFs in 2025 has been $50bn, equalling the first 9 months of 2020.

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