Market Outlook - May 2026

Equity Markets: Resilience in an Uncomfortable Environment

April 2026 was not a month where uncertainty eased; it was a month in which markets chose to look beyond it. The rally was driven by a US–Iran ceasefire. and improving diplomatic talks, which lifted global sentiment.
Crude oil prices surged, geopolitical tensions persisted, and the trajectory of interest rates remained uncertain. Yet, equity markets in India delivered notable returns. Global markets rallied and Nasdaq was back to its pre-war levels
Rather than signaling a smooth path ahead, April underscored a familiar market behavior; price often move ahead of certainty, advancing even when the broader environment remains unsettled.