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Market Snapshot: Risk-Off Trade Dominates: Benchmarks Fall, Rupee Slides, PRecious Metals Rally

Equity markets witnessed a volatile and risk-off week, with benchmark indices closing sharply lower amid persistent FII selling and weakening global sentiment. The BSE Sensex declined nearly 2.7% over the week, while the Nifty 50 slipped 2.5%, as key technical support levels were breached, triggering further profit-booking and short-term unwinding across frontline counters. The pressure was compounded by a sharp depreciation in the rupee, with USD/INR rising to ?91.91, reflecting strong dollar demand, heightened risk aversion, and continued capital outflows. In contrast to equities, precious metals rallied strongly, reinforcing their role as safe-haven assets during periods of uncertainty. Gold prices surged to ~?1,59,000 per 10 grams, supported by rising geopolitical tensions, expectations of softer global growth, and a weaker dollar environment, while silver and platinum also scaled fresh record highs, indicating strong defensive positioning. Sectorally, market participants remained cautious, especially around rate-sensitive and high-beta pockets, as volatility stayed elevated and market breadth weakened. Adding to the mixed tone, India’s IT sector delivered uneven Q3 FY26 results, with several large companies reporting performance impacted by one-time charges linked to the new Indian labour codes, weighing on near-term profitability and management commentary. Overall, the week reflected a clear shift toward defensives and safe-haven positioning, as investors balanced domestic earnings updates with global macro risks, currency weakness, and elevated uncertainty ahead of key policy and economic events.

Stocks

Wipro Q3FY26: Steady Performance, Improved Margins, Robust Deal Wins

Wipro Q3FY26: Steady Performance, Improved Margins, Robust Deal Wins
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Tips Music Q3 FY26: Steady revenue growth and sharp margin expansion drive strong profit growth

Tips Music Q3 FY26: Steady revenue growth and sharp margin expansion drive strong profit growth
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TechM Q3FY26: Stable Growth, Margin Strength & Solid Deal Traction

TechM Q3FY26: Stable Growth, Margin Strength & Solid Deal Traction
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LTIMindtree Q3 FY26: Steady Topline Expansion and Margin Upside

LTIMindtree Q3 FY26: Steady Topline Expansion and Margin Upside
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Persistent Systems Q3FY26: Solid Growth, with Margins Influenced by Mix Changes

Persistent Systems Q3FY26: Solid Growth, with Margins Influenced by Mix Changes
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OFSS Q3FY26: Strong Quarter with Stable Margins

OFSS Q3FY26: Strong Quarter with Stable Margins
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Eternal Q3FY26: Blinkit & Hyperpure Deliver EBITDA Profitability

Eternal Q3FY26: Blinkit & Hyperpure Deliver EBITDA Profitability
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Coforge Q3 FY26: Revenue Momentum Continues, Order Book Remains Strong

Coforge Q3 FY26: Revenue Momentum Continues, Order Book Remains Strong
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Menon Bearings Q3 FY26: Strong revenue growth and margin expansion lift profitability

Menon Bearings Q3 FY26: Strong revenue growth and margin expansion lift profitability
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Dairy Demand Firm and Margins Stable for Hatsun Agro Products.

Dairy Demand Firm and Margins Stable for Hatsun Agro Products.
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SRF Q3 FY26: Cautious Management Commentary Spooks Investors.

SRF Q3 FY26: Cautious Management Commentary Spooks Investors.
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JB Pharma Keeps Profitability Intact as Domestic Business Shines.

JB Pharma Keeps Profitability Intact as Domestic Business Shines.
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Some Pharma Names Hold Their Ground Around 52 Week Highs Despite Nifty Slump.

Some Pharma Names Hold Their Ground Around 52 Week Highs Despite Nifty Slump.
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Hindustan Zinc Reports Strongest Quarterly Performance; Shares Gain 3%

Hindustan Zinc Reports Strongest Quarterly Performance; Shares Gain 3%
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IndiaMART InterMESH Reports Strongest Quarterly Performance; Shares Gain 4%

IndiaMART InterMESH Reports Strongest Quarterly Performance; Shares Gain 4%
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HPCL Posts Record Throughput, Setting the Stage for the Next Growth Phase

HPCL Posts Record Throughput, Setting the Stage for the Next Growth Phase
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Waaree Energies Clocks Record Performance with Stronger Profitability

Waaree Energies Clocks Record Performance with Stronger Profitability
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CreditAccess Grameen surged after showing improved performance.

CreditAccess Grameen surged after showing improved performance.
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Bank of India Surged 6% after the Q3FY26 result.

Bank of India Surged 6% after the Q3FY26 result.
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The attached snip shows performance of HDFC bank in Q3FY26.

The attached snip shows performance of HDFC bank in Q3FY26.
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Here’s how IRFC performed in Q3FY26.

Here’s how IRFC performed in Q3FY26.
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Indices

Budget 2026: Nifty & Bank Nifty Outlook After the Budget

Budget 2026: Nifty & Bank Nifty Outlook After the Budget
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Commodity

Gold delivers on the call as $4,750 target is achieved, with $7,040 emerging as the next long-term upside zone

Gold delivers on the call as $4,750 target is achieved, with $7,040 emerging as the next long-term upside zone
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Fund Flows

The accompanying chart shows the top sectors that witnessed FPI’s highest inflow and outflow in the latest quarter.

The accompanying chart shows the top sectors that witnessed FPI’s highest inflow and outflow in the latest quarter.
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The chart below displays sectors that witnessed the highest and lowest change in the weightage of sectoral FPI holdings to the total FPI holdings compared to the previous fortnight.

The chart below displays sectors that witnessed the highest and lowest change in the weightage of sectoral FPI holdings to the total FPI holdings compared to the previous fortnight.
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The below chart presents the highest & lowest percentage inflow of investment in the latest fortnight compared to the previous period AUC (Asset Under Custody) of FPI.

The below chart presents the highest & lowest percentage inflow of investment in the latest fortnight compared to the previous period AUC (Asset Under Custody) of FPI.
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Opportunities

Nifty vs Gold Ratio Slips into Historic Support Zone, Hinting at Improving Equity Value Appeal

Nifty vs Gold Ratio Slips into Historic Support Zone, Hinting at Improving Equity Value Appeal
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Food for Thought

Source: Visualcapitalist.com

Source: Visualcapitalist.com
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Market Snapshot: Risk-Off Trade Dominates: Benchmarks Fall, Rupee Slides, PRecious Metals Rally
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