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The 10-year benchmark yield closed at 6.57% on Friday, the last trading day of FY25. Over this financial year, the 10-year yield softened 47 basis points, its steepest retreat in five years, according to LSEG data.

The Nifty 50 index managed to close FY2025 with a 5.3% gain, while the Nifty Midcap 150 and Smallcap 250 rose 5.73% and 2.32%, respectively. Foreign portfolio investors (FPIs) offloaded shares worth Rs 1.25 lakh crore during the year.

​​Even after the recent declines, India remains the second-most expensive country after the US with the Price to Earnings (PE) ratio — a popular valuation measure — at 20.97 times compared with nearly 10 times of Chinese stocks.

Stocks such as Bajaj Finance, Bharti Airtel, Eicher Motors, Grasim, HDFC Bank, ICICI Bank, BEL, Abbott India, Aditya Birla Capital, Nykaa, Time Techno, ITC Hotels, Nifty and Indigo could witness relative outperformance this week, according to analysts.

The absence of HDFC, an erstwhile large marquee issuer that merged with its banking arm, and liquidity challenges help explain the muted fund-raising activity in the corporate bonds market. Just before its July 2023 merger, HDFC had raised more than ₹46,000 crore in Q1 of FY24.

Adani Energy Solutions acquired Mahan Transmission, gaining complete ownership of the SPV through a share purchase agreement, marking a strategic expansion in its energy business.

Several stock futures, including Nykaa, Muthoot Finance, Indigo, and Escorts Kubota, have shown higher-than-average rollovers with positive indicators for future growth. Analysts recommend strategic buying in these stocks for potential near-term gains, highlighting technical strength and anticipated market trends.

Sebi officials and market participants at last week s meeting underscored the need to expand the investor base for Indian risk assets, despite a near-five-fold surge in local investor accounts to 190 million in February 2025, from about 39 million six years ago.

The sell-off through the second half of the financial year also took a toll on broader market. For the full fiscal year, the Nifty Mid-cap 150 index rose 5.7%, and the Small-cap 250 gained 2.3%.

Shares in Australia, Japan and South Korea opened higher while US equity-index futures dropped in early Asian trading. The S&P 500 climbed for the first time in four sessions, though US shares still notched their worst quarter compared to the rest of the world since 2009. As equities bounced, bonds moved away from session highs.