Daily Market News Update — 26th-27th April 2026

Midnight News Update: 26-27 Apr 2026

Finance Minister, Nirmala Sitharaman, directed the Indian Banks Association (IBA) to help banks handle the rising cybersecurity threat after the launch of Anthropic’s Claude Mythos. Mythos is currently being tested in a closed-user group. Early indications have been rather unnerving. The Mythos is intended to make cybersecurity stronger, but governments across the world are worried that it could also be used to break into the cybersecurity networks of banks globally. The FM has already asked the bank chiefs to focus on cybersecurity, fund safety, and data integrity.

Axis Bank saw a marginal dip in net profits to ₹7,071 crore for Q4FY26 on higher provisioning. For the quarter, the bank made one-time provisioning of ₹2,001 crore due to geopolitical uncertainties. On a yoy basis, the net interest margins (NIMs) moderated by 11 bps to 3.62%. For the quarter, Axis Bank reported 19% growth in credit and 14% growth in total deposits. Axis Bank saw slowing of its retail book growth to 8%, while the MSME book grew by 24% and the corporate book by 38%. Its CASA deposit ratio at 40% was better than last year. LCR was comfortable at 117%.

The week saw a sharp spike of 16.5% in Brent Crude prices to $105/bbl, even as the rupee saw one of its worst weekly performances. After hardening from ₹95.22/$ to ₹92.60/$ on the back of RBI speculative restrictions, the week saw rupee weakening back to ₹94.25/$. Due to this combination, India has been hit by higher oil prices and bigger FPI outflows. So, the current deficit is worsening, and India’s ability to fund the fiscal deficit is also reducing. Currently, the correlation between the rupee and oil prices stands at 44%, which is relatively high by historical standards.

For the recent week, 7 out of the 10 most valuable companies on Nifty index, saw value erosion of ₹2,05,343 crore. Among the big losers; TCS lost ₹66,700 crore, Reliance gave up ₹50,670 crore, HDFC Bank ₹23,090 crore, LIC of India ₹19,671 crore, Bharti Airtel ₹19,407 crore, ICICI Bank ₹14,663 crore, and L&T ₹11,143 crore. Among the gainers; Hindustan Unilever added ₹20,653 crore to its market cap, SBI ₹19,523 crore, and Bajaj Finance ₹8,254 crore. Reliance and HDFC Bank remained the most valuable companies on Nifty; followed by Bharti Airtel and SBI. TCS ranks sixth.

The ongoing Gulf War has fuelled a massive raw material inflation for Indian companies. It is not just about oil intermediates, but also about shipping lines being disrupted and unable to move raw materials to the final destination. There has been some support in India from the GST rate cuts, but the spike in raw material costs has reached a stage wherein the manufacturers can longer absorb the cost. FMCG companies have already moved to daily pricing model, even as they are tightening budgets. Most medium to long-term business strategies are currently kept on hold.

The big challenge for quick commerce today is not coming rom Blinkit, Zepto, or Instamart. It is coming from Reliance Retail. Most of its 20,000-store network have also doubled up as local level fulfilment centres. This has led to a spike in hyperlocal orders; across groceries, electronics, and fashion. Reliance Retail is shifting strategy from store-led expansion to doorstep fulfilment. For Reliance Retail, hyperlocal orders saw 300% yoy growth, albeit on a lower base. The store network gives Reliance access to 1,200 cities/towns and more than 5,100 pin codes across India.

Hindustan Zinc, majority owned by Vedanta, plans to double its output by the year 2030. It also plans to revive the demerger idea all over again. This demerger plan had first been mooted by Vedanta back in 2023. However, at that point of time, government of India had objected to the plan as it was not in favour of minority shareholders. Government buy-in is required as the centre still holds 27.92% stake in HZL. Now, with the parent company (Vedanta Ltd) going for a 5-way demerger of its businesses, the demerger talks for HZL are also being revived.

The AgriStack Digital Public Infrastructure is likely to get a big boost from the government in FY27 with interest-free loans worth ₹13,000 crore. This AgriStack will include key building blocks like the Farmer Registry and the Digital Crop Survey. The idea is to better leverage technology to make farm output more efficient, target benefits better, and reduce leakages. One of the big projects being taken up under the AgriStack is the use of Farmer ID for enrolment and claim settlement; with DCS based crop validation. Disbursal will be milestone-based; with incentives.