Key Events for the Month of January 2026

• India's Services Purchasing Managers' Index (PMI) fell to 58.0 in December from 59.8 in November. Despite the decline, the reading remained above the 50-mark, indicating continued expansion in activity (a reading below 50 signifies contraction). The headline index has remained in expansionary territory for the 53rd consecutive month.

• India's Manufacturing Purchasing Managers' Index (PMI) eased to 55.0 in December, marking a 38-month low. However, the index stayed well above the 50-mark, which separates growth from contraction.

• India's Consumer Price Inflation (CPI) rose to 1.33% in December, from a series low of 0.25% in October and 0.71% in November, largely due to a narrowing of food deflation and the waning of a favourable base effect.

• India's Wholesale Price Index (WPI) extended its upward momentum for the second consecutive month, registering 0.83% in December 2025, driven by higher prices of food, non-food articles, and manufactured items on a month-on-month basis.

• India's gross GST collections rose 6.2% year-on-year to ₹1.93 lakh crore, rise driven by firm domestic demand and strong import activity.

• The month ended on a negative note for Indian equity markets, with the Nifty 50 declining 3.10% and the BSE Sensex falling 3.46%.

|	Sectoral Index Performance

Name	3 Months	6 Months	1 Year	3 Years	5 Years
Nifty Auto Index	-0.2%	13.1%	17.0%	26.2%	22.2%
Nifty Bank Index	3.2%	6.5%	20.2%	13.6%	14.3%
Nifty Energy Index	-3.1%	0.1%	3.7%	14.0%	16.8%
Nifty Financial Services Index	0.7%	2.6%	17.7%	14.7%	13.4%
Nifty FMCG Index	-8.9%	-8.2%	-9.7%	4.8%	9.1%
Nifty Healthcare Index	-5.4%	-6.6%	0.8%	21.0%	20.0%
Nifty Infrastructure Index	-4.3%	1.0%	9.6%	21.8%	20.0%
Nifty IT Index	6.5%	7.7%	-10.8%	8.5%	9.1%
Nifty Media Index	-10.0%	-14.8%	-12.3%	-10.0%	-3.4%
Nifty Metal Index	11.5%	27.4%	40.8%	22.3%	30.9%
Nifty Pharma Index	-2.1%	-4.6%	1.3%	20.7%	12.3%
Nifty PSU Bank Index	10.2%	31.7%	42.8%	31.1%	37.8%
Nifty Realty Index	-17.4%	-14.2%	-15.0%	23.9%	20.7%
BSE Consumer Durables Index	-8.6%	-7.0%	-4.4%	13.6%	12.9%
BSE Industrial Index	-5.7%	-1.6%	4.0%	27.3%	31.8%

Source: Bloomberg, As on 30/01/2026. The Sector(s) mentioned in this document do not constitute any research report/recommendation of the same and the scheme(s)/Fund may or may not have any future position in these Sector(s) | The Index names mentioned do not constitute any kind of recommendation and are for information purpose only.
Past performance may or may not be sustained in the future.

|	Global Index Performance

Name	3 Months	6 Months	1 Year	3 Years	5 Years
MSCI World Index	3.1%	11.1%	18.0%	17.6%	11.2%
MSCI Emerging Index	9.0%	22.9%	39.8%	14.0%	2.8%
MSCI India index	-1.4%	2.2%	7.7%	14.6%	13.8%
Dow Jones Industrial Average Index	2.8%	10.8%	9.8%	12.8%	10.3%
Nasdaq Composite Index	-1.1%	11.1%	19.5%	26.5%	12.4%
Nikkei 225 Index	1.7%	29.8%	34.7%	25.0%	14.0%
Shanghai Composite Index	4.1%	15.2%	26.7%	8.1%	3.4%
Deutsche Boerse AG german Stock Index DAX	2.4%	2.0%	12.9%	17.5%	12.8%

Source: Bloomberg, As on 30/01/2026 | The Index names mentioned do not constitute any kind of recommendation and are for information purpose only.
Past performance may or may not be sustained in the future.