Mumbai, The Indian stock markets witnessed a strong rebound last week after six consecutive weeks of decline, supported by favourable global cues, according to analysts.

Sentiment remained buoyant amid optimism surrounding a temporary US–Iran ceasefire, although lingering geopolitical uncertainties capped the pace of gains as the week progressed.

“The rally was further aided by a stable domestic macro backdrop, with broader markets outperforming the benchmarks. Despite elevated volatility marked by sharp mid-week gains and subsequent profit booking, indices trended higher,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.

The Nifty and Sensex gained around 6 per cent to close near the week’s highs at 24,050.60 and 77,550.25, respectively.

According to analysts, global developments remained a key influence, with the temporary ceasefire between the US and Iran improving risk appetite, though uncertainty around its sustainability persisted.

Meanwhile, a sharp decline in crude oil prices below the $100 mark eased domestic concerns and triggered a strong rebound across markets.

On the domestic front, the RBI maintained the repo rate at 5.25 per cent and retained a neutral stance, highlighting the need to balance inflation risks with growth support.

The central bank also revised FY26 GDP growth upward to 7.6 per cent while projecting FY27 growth at 6.9 per cent.

Inflation projections were raised to 4.6 per cent for FY27, reflecting risks from elevated energy prices and potential weather-related disruptions.

Market watchers said that overall sentiment remains balanced but cautious, shaped by global cues, crude oil price movements and ongoing foreign investor activity.

Downside appears to be relatively contained, but upside momentum remains constrained, pointing to a recovery that is still tentative and low in conviction, they added.

Economic indicators showed signs of moderation, with the Services PMI easing to 57.5 and the Composite PMI to 57.0 in March.

However, global agencies remained constructive, with the World Bank raising India’s growth outlook, supported by strong domestic demand and structural factors, said analysts.

Mumbai: is currently undergoing a large-scale road construction. To ensure that these roads are used in the long term and traffic on them is taken care of, model operational norms should be developed on railway lines. This should include changes in traffic, repair and maintenance, utilities and other matters besides road maintenance in the next 10 years. Focus should be on creating infrastructure facilities keeping in mind the needs of various businesses operating in Mumbai. Maintain constant contact with corporators and other public representatives and get their suggestions on local issues. Information on silting of drains, current status of road works, etc. should be made available to the public. In addition, Municipal Commissioner Ashwini Bhide has directed that emphasis should be placed on providing good quality basic services of the Municipal Corporation in a people-oriented manner. The monthly review meeting of all departments of the Mumbai Municipal Corporation was held at the Municipal Corporation Headquarters today. Meanwhile, the Mumbai Municipal Corporation has initiated several major projects and development works in Mumbai. There are various authority systems working in it. There should be proper coordination with these systems. There should be a harmonious connection between the administrative departments (wards) and other systems. In addition, a meeting will be organized every Saturday to review various innovative issues, Bhide also clarified. In addition, as per the discussions held in the review meeting, a report on the completion of the relevant work will also be taken in this meeting. The Mumbai Municipal Corporation works to provide civic services. However, he also expressed the expectation that now we have to work beyond this. On this occasion, Additional Municipal Commissioner (Western Suburbs) Dr. Vipin Sharma, Additional Municipal Commissioner (City) Dr. Ashwini Joshi, Additional Municipal Commissioner (Projects) Abhijeet Bangar, Additional Municipal Commissioner (Eastern Suburbs) Dr. Avinash Dhakne, Joint Commissioner (Vigilance) Dr. M. Devendra Singh were present on the occasion. Apart from this, all the Joint Commissioners, Deputy Commissioners, Assistant Commissioners, Heads of Departments etc. were present in this meeting.

In this meeting, detailed discussions were held in the backdrop of the discussions held by the corporators in the House on various issues. After this, Municipal Commissioner Ashwini Bhide clearly instructed the officers that the representatives of the people are working to bring out the problems and facts of the people at the local level in a proper manner. Therefore, every officer should be in constant touch with them and keep them regularly informed about the current status of silting, cleaning or other related works in their work area. The Assistant Commissioner should try to ensure that the suggestions and feedback received from the local corporators are implemented. Coordination between them becomes effective if there is continuous communication and transparency. BMC has played a significant role in Covid. During this, BMC has actively and objectively provided information on its own. We should still work with the same activity. Ensure that the incomplete roads are easy and safe for traffic during the monsoon. The meeting discussed road works in Mumbai. After this, Ashwini Bhide said that if the road works are currently more than 70% complete, then they should be completed before June 1. Ensure that the ongoing works are completed within the stipulated time and remain smooth for traffic. Positive results have been seen in the matter of potholes on the roads and the number of potholes has reduced significantly in the last three years. Apart from this, its cost is also continuously decreasing, he said that information about the current status of the work of removing silt from drains should be distributed regularly to the public. The work of removing silt from small and big drains in the Mumbai area is going on at a fast pace. It was reviewed administratively (ward wise) in the meeting. On this occasion, Bhide said that the honorable corporators, public representatives and citizens should be informed on a daily basis about the current status of the work of removing silt from drains. So that they can know the status of daily work. If they have any suggestions on this, they will also convey it to the administration. Also, information regarding cleaning of drains should be conveyed to the citizens through municipal social media.

Prepare a plan for long-term solution of flooded areas

The meeting considered the preparations and measures for monsoon. It discussed possible water filling areas, water pumping systems, pumps and other equipment.

Navi Mumbai: A gas agency owner has been booked for allegedly cheating a fruit trader of Rs 25 lakh on the pretext of offering partnership and high returns on investment in Bharat Petroleum Corporation Limited-linked business in Nerul. The Nerul police have registered a case against the accused and initiated further investigation.

The accused has been identified as Sunil Rambhau Gunjal (62), a resident of Koparkhairane and owner of Vighnahar Gas Service, while the complainant, Bhalchandra Nalawade (67), is a fruit trader residing in Nerul. The two had known each other for several years through business dealings.

According to the police, in 2020, Gunjal lured Nalawade by claiming that his gas agency was associated with BPCL and offered him a partnership. He allegedly convinced Nalawade to invest a large sum by promising a monthly return of 5 per cent, both verbally and in writing.

Trusting the offer, Nalawade invested Rs 25 lakh. However, despite the passage of time, he neither received the promised returns nor any official documents confirming his partnership. When Nalawade demanded his money back, Gunjal allegedly avoided repayment on various pretexts.

Police said Gunjal later issued four cheques worth Rs 25 lakh to Nalawade, but all were dishonoured. Even after repeated follow-ups, he refused to return the money and allegedly threatened the complainant when pressed for repayment.

“Based on the complaint, a case of cheating and criminal breach of trust has been registered. We are verifying the financial transactions and further legal action will be taken accordingly,” a Nerul police officer said.

Following the complaint, Nerul police registered an FIR against Gunjal under relevant sections of the Bharatiya Nyaya Sanhita including 318(4), 316(2), 352, and 351(2) for cheating, criminal breach of trust, and criminal intimidation. Further investigation is underway.