India Market Weekly (Jun 19, 2026)

Research evidence excerpt

India Market Weekly (Jun 19, 2026)

India | Equity Strategy EquityJuneResearch20, 2026

STRATEGY NOTEIndia Market Weekly (Jun 19, 2026)

The MSCI India was up 2.2% WoW. It underperformed the EM Index by

180bps and the AxJ Index by 234bps. Realty and Industrials were top Exhibit 4 - MSCI India Index

outperformers, while IT and Healthcare were the top underperformers. 29602940

The INR was up 0.8% against the USD this week. Ten-year G-Sec bond 2920 2930 2940 2927

2900 2916

2901yields were down 1bp WoW at 6.88%. Jefferies India Model Portfolio 2880

2860outperformed MSCI India by 69bps this week. 2864

Exhibit 1 - MSCI India performance vs. regional indices . 12th Jun 15th Jun 16th Jun 17th Jun 18th Jun 19th Jun

Source: Bloomberg, Jefferies

80 (%) 72

60 Research highlights of the

50 41 week: 40

30 23 21 India Strategy: Expensive Thematic 15 14 14 20 5 Stocks Have Delivered Returns 5 5 5 7 4 3 2 2 2 7 1 10

(10) (3) India Strategy: US Investor feedback

(20) (7)

(30) (17) India IT: ACN 3Q Takeaways: Guidance

Korea Japan Taiwan AxJ EM ASEAN India USA China cut reflects soft demand

India Energy: OMC Marketing Outlook MSCI MSCI Indonesia Singapore MSCI MSCI MSCI MSCI MSCI Improves with Peace in the ME MSCI MSCI

1W MSCI 3MMSCI. Asia-Pacific Home Appliances: India

Source: Bloomberg, Jefferies. *in local currency (and South Asia) Compressor GrowthExhibit 2 - MSCI India top OPFers and top UPFers over the week

Top Outperformers Top Underperformers Opportunities

Trent Ltd Tata Motors Passenger Vehicles Ltd

Balkrishna Industries Ltd Infosys Ltd

GE Vernova T&D India Colgate-Palmolive India Ltd

Kalyan Jewellers India Ltd Torrent Pharmaceuticals Ltd

HDFC Asset Management Co Ltd Zydus Lifesciences Ltd

.

Exhibit 3 - Sectoral Performance

35 (%) 32

15 16 15 12 15