AMC & product-related updates
ICICI Prudential Life Insurance has launched the ICICI Prudential Life BSE Enhanced Value 30 Index Fund for ULIP investors. The fund tracks a 30-stock value-oriented index and aims to provide diversified long-term equity exposure through a value-based strategy.
Jio BlackRock Mutual Fund has received approval from IFSCA to begin operations in GIFT City. CEO Sid Swaminathan stated that the platform plans to launch commodity ETFs linked to gold and silver within the next three months, while also targeting broader access for both Indian and global investors.
JioBlackRock AMC also indicated that nearly 40% of its retail AUM is now coming from smaller cities. The company highlighted rising participation from first-time investors and growing interest in SIF-based strategies.
Regulatory & policy developments
AMFI has asked mutual fund distributors to immediately update their GST details. The industry body stated that missing GST information may restrict commission payouts only to the base brokerage amount.
SBI Chairman C.S. Setty said the bank plans to dilute a part of its stake in NSE during the exchange’s IPO process. Reports suggested that SBI and SBI Caps together hold NSE shares valued at nearly ₹43,500 crore.
India’s foreign exchange reserves declined by $7.794 billion to $690.693 billion during the week ended May 1, according to RBI data.
Mutual fund & distribution signals
Indian investors are increasingly moving money toward overseas assets. RBI data showed that investments into global equities and debt crossed $2.2 billion during the eleven months through February, marking a 60% increase compared to the previous year. Reports suggested that weaker domestic returns and limited exposure to AI-led growth opportunities were among the key drivers.
Indian non-bank lenders are also seeing improved bond market conditions. Five AAA-rated NBFCs are reportedly planning to raise nearly ₹150 billion (around $1.6 billion) through bond issuances with maturities ranging from two to five years, as declining yields improve fundraising conditions.
Billionaire Ajay Piramal’s Piramal Finance is planning to raise up to $1 billion through foreign borrowings to support retail credit expansion, despite pressure from rupee weakness.
Markets & sectoral trends
Indian equity markets ended sharply lower on May 8, 2026, amid renewed tensions between the United States and Iran near the Strait of Hormuz.
The Sensex fell over 500 points, while the Nifty slipped below the 24,200 mark as rising crude oil prices and geopolitical uncertainty weighed on investor sentiment.
Insurance & financial sector developments
Bajaj Life Insurance announced its highest-ever annual bonus payout for participating policyholders. The insurer declared a bonus of ₹1,939 crore for FY26, representing a 5.8% increase over the previous financial year and marking 25 years of continuous bonus payouts.
Corporate actions, capital flows & business developments
A major block deal is expected in Lenskart as IPO-related lock-in restrictions approach expiry. The proposed transaction size has reportedly been increased to ₹5,650 crore and may involve up to 7 crore shares at around ₹470 per share. Investors expected to participate include Birdseye View Holding, TR Capital Mauritius, ABG Capital and Kariba Holdings.
Anthropic, the company behind the Claude AI platform, is reportedly evaluating investment proposals that could push its valuation close to $1 trillion, potentially surpassing OpenAI in valuation terms.
Sony announced a share buyback plan worth up to ¥500 billion (around $3 billion) and said it will cancel nearly 3% of its outstanding shares. The company also projected profit of ¥1.6 trillion by 2027 while continuing to focus on gaming, intellectual property and music assets.
Nvidia plans to invest up to $2.1 billion in IREN as part of an AI data centre infrastructure partnership. The agreement gives Nvidia rights to purchase up to 30 million shares and supports expansion of AI-focused infrastructure at IREN’s Sweetwater campus in Texas.
Source: Moneycontrol, Business Standard, CNBC TV18, Cafemutual
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