Market Snapshot USD/INR ₹92.73 +0.1% Nifty 50 Index 24,050.60 +1.2% India 10-Year Bond Yield 6.93% -0.03 Spot Gold ($/oz) $4,715.36 -0.7% S&P 500 Futures 6,802.75 -0.8% Market data as of 08:15 AM IST, Apr. 13, 2026, or the previous close for Indian markets. Data is subject to provider delays. Good morning... I’m Ashutosh Joshi in Mumbai with a quick pulse check as markets kick off a new week. A fa...
Market Snapshot USD/INR ₹92.73 +0.1% Nifty 50 Index 24,050.60 +1.2% India 10-Year Bond Yield 6.93% -0.03 Spot Gold ($/oz) $4,715.36 -0.7% S&P 500 Futures 6,802.75 -0.8% Market data as of 08:15 AM IST, Apr. 13, 2026, or the previous close for Indian markets. Data is subject to provider delays. Good morning... I’m Ashutosh Joshi in Mumbai with a quick pulse check as markets kick off a new week. A familiar backdrop of higher oil prices and weaker Asian stocks awaits Indian traders on Monday after US President Donald Trump ordered a blockade of the Strait of Hormuz, escalating tensions with Iran following the collapse of weekend peace talks. That puts the Nifty 50’s relief rally under pressure — the benchmark jumped nearly 6% last week to cap its best weekly performance since early 2021. It’s also a holiday-shortened week in India, with markets shut on Tuesday. Investors will track key inflation prints — CPI on Monday and WPI on April 14 — along with the ongoing March-quarter earnings season. Wipro, HDFC Bank and ICICI Bank are among key names reporting this week. In today’s newsletter, we explain why: Retail investors remain bullish on stocks Solar module makers are struggling The recovery is chemicals is getting delayed But first, let’s look at the exodus of foreign investors from Indian equities. Markets Buzz: An Unwelcome Record The failure of the US-Iran peace talks jeopardizes hopes that the conflict will be resolved soon, casting a pall over India’s energy and economic outlook. It also threatens to extend foreign outflows, which have already reached unprecedented levels. At $18.8 billion , withdrawals by overseas funds in just the first few months of the year have already surpassed 2025’s record full-year tally. The grim milestone has come as the oil shock triggered by the war compounds concerns over a weaker currency and a fragile earnings recovery. Three Things to Start Your Day Retail investors double down amid selloff Foreign investors’ pessimism contrasts wi...
Hong Kong is betting on a 36-fold increase in supercomputing power to propel the city into the top tier of global artificial intelligence (AI) hubs, as it ramps up infrastructure to keep pace with rivals London and New York in the race for digital supremacy, the city leader has said. In his keynote address at the opening ceremony of the 2026 World Internet Conference (WIC) Asia-Pacific Summit at t...
Hong Kong is betting on a 36-fold increase in supercomputing power to propel the city into the top tier of global artificial intelligence (AI) hubs, as it ramps up infrastructure to keep pace with rivals London and New York in the race for digital supremacy, the city leader has said. In his keynote address at the opening ceremony of the 2026 World Internet Conference (WIC) Asia-Pacific Summit at the Hong Kong Convention and Exhibition Centre in Wan Chai on Monday, Chief Executive John Lee...
Michael Ratney, Former US Ambassador to Saudi Arabia and US Special Envoy for Syria, says the Trump Administration's plan to move US Navy forces to block the Strait of Hormuz 'injects enormous element of risk and uncertainty' that could lead to more spikes in energy prices and potential retaliation from Iran. He speaks with Shery Ahn and Haidi Stroud Watts on "Bloomberg: The Asia Trade". (Source: ...
Michael Ratney, Former US Ambassador to Saudi Arabia and US Special Envoy for Syria, says the Trump Administration's plan to move US Navy forces to block the Strait of Hormuz 'injects enormous element of risk and uncertainty' that could lead to more spikes in energy prices and potential retaliation from Iran. He speaks with Shery Ahn and Haidi Stroud Watts on "Bloomberg: The Asia Trade". (Source: Bloomberg)
Feverpitched/iStock via Getty Images Investors who are exploring options to get most out of the market recovery driven by de-escalation optimism have multiple ETFs to consider, starting with the iShares Core S&P 500 ETF ( IVV ) as perhaps the simplest, intuitively evident, and time-tested option. However, they might want to go a bit further and experiment with a little more sophisticated products,...
Feverpitched/iStock via Getty Images Investors who are exploring options to get most out of the market recovery driven by de-escalation optimism have multiple ETFs to consider, starting with the iShares Core S&P 500 ETF ( IVV ) as perhaps the simplest, intuitively evident, and time-tested option. However, they might want to go a bit further and experiment with a little more sophisticated products, like those offering concentration in exchange for the theoretical potential of higher returns. And the iShares Top 20 US Stocks ETF ( TOPT ) is one of the key names in this cohort. But does TOPT deserve a Buy rating? I do not think so. My analysis confirmed that its ultra-concentrated portfolio encompassing the Magnificent Seven names and other U.S. heavyweights has solid growth, GARP, and quality characteristics. With that being said, I believe TOPT is only a Hold. The problem is that the current market environment is notable for extreme volatility amid swings in the narrative. For example, as of writing this article, President Trump ordered "an immediate blockade of the Strait of Hormuz" as peace talks stalled, which, I suppose, looks quite bullish for oil and a little bearish for equities. And even though I still believe the consistent de-escalation is achievable, it is reasonable to stick with more diversified vehicles like IVV to avoid too deep drawdowns and enjoy stronger risk-adjusted returns. Besides, there is also something to dislike about TOPT's past performance (i.e., inability to beat the more diversified Invesco QQQ Trust, Series 1 ETF ( QQQ )). TOPT Strategy As we know from the iShares website , the S&P 500 Top 20 Select Index is the basis of the ETF's strategy. And as we can already guess from its name, there is nothing particularly sophisticated about its methodology. As explained on page S-2 of the summary prospectus, it ... measures the performance of the 20 largest U.S. companies by float-adjusted market capitalization within the S&P 500® (the “Parent I...