US stocks showed fluctuations ahead of President Trump s expected announcement on tariffs that target various industries and countries. The market s instability reflects uncertainties about the potential impact on the global economy. Tesla s disappointing vehicle delivery numbers and broader concerns about the economy further contributed to the market s nervousness.

Capital markets regulator Sebi on Wednesday allowed investment advisers and research analysts to charge advance fees for up to one year. Under the existing rules, investment advisers (IAs) can charge fees in advance for up to two quarters if agreed upon by the client, while for research analysts (RAs), it was only for a quarter.

Tesla s first-quarter sales slumped 13%, its weakest performance in nearly three years, in a backlash to CEO Elon Musk s embrace of far-right politics and as consumers seek out newer models from rival electric-vehicle makers.

Indian equities ended FY25 positively but lagged global peers, ranking seventh in performance. Foreign investor outflows and high valuations impacted market sentiment. Despite near-term challenges, India s long-term growth prospects remain intact, driven by earnings recovery and policy support.

Indian markets ended strong on Wednesday before Trump s reciprocal tariffs. Buying was seen in banks, IT, and auto stocks. Nifty found support at 50 EMA, with technical indicators hinting at a short-term recovery and potential rally toward 23,800.

Adani Ports reported a 9% YoY rise in March cargo volume to 41.5 MMT, marking its highest ever. Mundra Port became the first Indian port to cross 200 MMT annual cargo volume, while container and liquids & gas volumes surged.

Investors across the spectrum have renewed their interest in India s microfinance space, displaying confidence in the sector s turnaround ability from the recent setbacks.

The global trade war and ensuing US tariff hike may disrupt supply chains and raise inflation, potentially reducing bank profits in India by up to 25 basis points by FY26. Indian banks face increased competition for deposits, while large NBFCs see upgrades due to equity infusions and strong asset quality.

Financiers are focusing more on higher-ticket loans (₹50,000 and above) due to increasing delinquencies and borrower stress in lower-ticket segments. Loan disbursals fell 35% in value and 42% in volume in Q4, with rising delinquencies and borrower overleverage contributing to the decline.