Good morning. Money was the theme of the week, from how much the government plans to borrow to how much your portfolio has quietly shed.
In today's newsletter: Indian stocks log a seven-week losing streak, the Centre trims its borrowing plan, and Iran's seven-day offer on Hormuz.
Closing levels · 25 September 2026
Sensex 73,895.74 ▲ 0.43% |
Nifty 50 23,140.50 ▲ 0.34% |
USD/INR 95.80 ▼ 0.37% · rupee stronger |
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Stocks bounced on Friday but still closed the week lower, while the rupee firmed slightly against the dollar.
Sensex and Nifty fall for a seventh straight week, the longest losing run since 2020
Indian stocks have now fallen for seven weeks in a row. The Nifty 50 ended Friday at 23,140.50, down 0.88% for the week, and the Sensex closed at 73,895.74, down 0.53%.
Friday itself was a small relief, with the Sensex up 0.43% and the Nifty up 0.34% on the day. It was not enough to turn the week around.
The drag is familiar: high crude prices, rising global bond yields and steady selling by foreign investors. Investors are also pricing in the chance of further interest rate hikes by central banks.
If you run a SIP in an equity fund, your statement has probably shown losses for weeks. Regular SIPs buy more units when prices are low, so stopping now locks in the fall rather than avoiding it.
Before this week, the Nifty had fallen for seven or more weeks in a row only four times in 25 years: in 2020, 2008 and twice in 2001. The record is nine weeks, set in 2001.
Centre will borrow ₹7.86 lakh crore from October to March, trimming its full-year plan
The government, working with the RBI, will raise ₹7.86 lakh crore through bond sales between October and March, including ₹15,000 crore of sovereign green bonds.
Full-year market borrowing is now expected at about ₹16 lakh crore against the Budget's ₹17.2 lakh crore, a cut of roughly 7%. The sales will run through 23 weekly auctions.
Less government borrowing leaves more room for everyone else in the bond market. With yields under pressure, that can ease the cost of loans over time.
Iran offers to reopen the Strait of Hormuz in seven days if the US meets its terms
Iran's Foreign Minister Abbas Araghchi has proposed reopening the Strait of Hormuz within seven days. In return, the US would lift its naval blockade of Iranian ports, waive oil sanctions and observe a ceasefire.
Under the plan, the strait would open on day six and nuclear talks would begin on day seven. Until then, Iran says the waterway stays closed.
Oil slid about 2% on the news. For India, which imports most of its crude, a reopened strait would be the single biggest relief for fuel costs and the rupee.
Breaking.exe
Big cloud bet. Anthropic has committed $11.6 billion over seven years to Akamai's cloud, and Akamai is giving it a potential stake of up to 5% that grows as Anthropic spends more. |
Meta found liable. A New Mexico jury found that Meta misled users about Facebook's data practices, and the state is asking for the maximum $5,000 penalty per violation. |
Servers switched off. File-transfer company Kiteworks told customers to shut down their servers after law enforcement warned of a credible, imminent cyberattack. |
Startup funding. Indian startups raised $110 million this week, with electric motorcycle maker Ultraviolette accounting for more than three-fourths of it. |
Finance 101
Exporters' deadline. The RBI has cut the time exporters get to bring their earnings back to India from 15 months to nine, so more dollars reach the market sooner and support the rupee. |
Bank strike. Bank unions plan a three-day strike from September 28 demanding a five-day week after the Finance Ministry gave no commitment, so finish any branch work before Monday. |
SEBI bans Omaxe. SEBI has barred real estate firm Omaxe from the market for three months for breaking the rule on how much of a listed company outside investors must own. |
FDI up. Foreign direct investment into India rose 6% from a year earlier in April to June, to $19.81 billion. |
Pangaea Revisited
Shipping safety. India and Liberia launched a UN group on the safety of shipping and seafarers, with Jaishankar calling attacks on ships in the Gulf and Red Sea indefensible. |
UN on Houthis. The UN Security Council condemned Houthi attacks on Saudi Arabia and stressed freedom of navigation. |
Pakistan protest. Imran Khan's party has pushed its Islamabad march to October 4 after the government barricaded the capital and deployed tens of thousands of police. |
Ebola spreads. The WHO says Congo's Ebola outbreak has spread to two new health zones in border regions. |
Also, Also, Also
Shooting gold. Suruchi and Kamaljeet won India's first shooting gold of these Asian Games in the 10m air pistol mixed team, setting a new Asian and Games record. |
Manipur. The Home Ministry has declared most of Manipur a "disturbed area" under AFSPA for six more months from October 1. |
CBSE chief. IAS officer Mandeep Bhandari is the new CBSE chairman, the third person to hold the post in four months. |
Man City. Manchester City have reportedly been found guilty on all but one of 115 financial charges brought by the Premier League. |