The Indian equity market continued to underperform global equity markets in the past week and was flat over this period 8184
Shrikant Chouhan,
Head Equity Research,
Kotak Securities
Mumbai, August 14, 2025: Global equity markets were mostly strong over the past week, as the US tariff saga continued. The Indian equity market continued to underperform global equity markets in the past week and was flat over this period. Nifty Midcap and Small cap underperformed by declining 0.7% and 0.6% respectively. The US imposed additional 25% tariffs on Indian exports, while existing exemptions remained in place. USD-INR traded in a narrow range in the past week. Healthcare (+1.7%), Auto (+1.3%), Pharma (+1.9%) and IT (+0.23%) were the top gainers, while realty (-1.5%), Capital Goods (-1.5%), Consumer Discretionary (-1.5%) and metals (-1.0%) were the major losers. The market focused on earnings and management commentary during the Q1FY26 earnings season. While aggregate earnings were broadly in line with estimates, the outlook remained muted, resulting in continued cuts in earnings estimates. FIIs remain net sellers and DIIs remain net buyers.
In Global, in US, Russian President Vladimir Putin and his U.S. counterpart Donald Trump are meeting in Alaska on Friday to try to negotiate an end to the war in Ukraine. AI startup Perplexity has offered to buy Google’s Chrome browser for $34.5 billion. In Europe, the U.K. economy expanded by 0.3% in the April-June stretch, slowing from 0.7% in the previous quarter. Second-quarter data exceeded expectations predicting a 0.1% expansion. Economic activity was weak in April and May, but rebounded strongly in June. In Asia, Chinese tech giant Tencent reported a 15% jump in second-quarter revenue as a strong performance in its gaming unit and AI investments boosted growth.
