Poor Mutual Fund Returns to Put Indian Investors’ Loyalty to the Test

Good morning...

I’m Alex Gabriel Simon in Mumbai, with key market updates as we wrap up another week in the shadow of the war in the Middle East.

Market sentiment remains weak as the Hormuz blockade keeps pushing energy prices higher. Oil is up for a fifth straight day while Asian stocks are trading choppy, with President Donald Trump’s threats and brash social media posts seen hampering the prospect of Iran agreeing to more in-person peace talks with the US. At home, the Nifty has fallen for two straight sessions and is now on course for a weekly decline. While the global backdrop is unencouraging, domestic signals aren’t offering much support either. IT giant Infosys late Thursday forecast weaker-than-estimated sales growth for this year, and that is likely to weigh on the software sector and the broader market today. Meanwhile, Reliance Industries, India’s most valuable company, is expected to report a year-on-year drop in March-quarter profit on Friday. Other key results to watch include IndusInd Bank and Lodha Developers.