Daily Market News Update — (18th-19th June 2026)

Midnight News Update: 18-19 Jun 2026

NSE filed its DRHP with SEBI for its upcoming IPO, which will entirely be an offer for sale. The total size of the IPO, at the current informal market valuations should be in the vicinity of ₹30,000 crore, making it the biggest IPO in Indian history. What is most interesting is the kind of profits that early investors in NSE will make in the IPO. SBI, which invested ₹1.98 crore in NSE, will take away ₹4,950 crore. Similarly, Bank of Baroda will take home a hefty ₹2,197 crore, against its original investment of ₹59 lakhs. Even SHCIL will take ₹2,178 crore, against an investment of ₹50 lakhs.

The India-UK free trade agreement (FTA) will open the doors for 88,000 “Made in India’ green vehicles. India will permit import of 3,78,000 IC vehicles from the UK at concessional duties over the first 15 years. The Indo-UK comprehensive economic and trade agreement (CETA) will come into effect from 15-July, and will open the doors for 88,000 green/hybrid units over 15 years. Tata Motors, Maruti, and M&M will be the big beneficiaries of this trend. However, some of the specific models in India and the UK will be eligible for protection from the government.

RBI has extended the tenure of the acting chairman of HDFC Bank, Keki Mistry, till 18-September. The bank is yet to finalize on a new non-executive chairman, after the abrupt resignation of the previous chairman. If the new executive chairman is appointed before that, then the tenure of Keki Mistry will end with immediate effect. RBI expects that the search process should be completed over next 3 months. RBI has been in regular touch with the board of HDFC Bank to monitor progress on the appointment of a new chairman. The stock of HDFC Bank has been languishing.

Iran published details of the US-Iran agreement and it looks like Iran has got more than it bargained for. The agreement includes ending hostilities, lifting sanctions, reviving maritime trade, and supporting Iran’s reconstruction. Under the framework, the US and Iran have 60 days to negotiate the final agreement. All naval blockades will be removed in 30 days. US will withdraw all forces after final agreement. US and regional partners will fund $300 billion reconstruction plan for Iran. Sanctions will go in a phased manner. Most of the frozen assets of Iran will be released.

The Fed June meeting may have maintained status quo on rates, but the signals were clearly hawkish. Apart from removing all traces of rate cuts in the language of the Fed statement, it also hinted at rate hikes in future to control inflation. As per the CME Fedwatch indicator, 2 more rate hikes are possible over the next 1 year, although any outlook beyond that is quite hazy. The hawkish signal led to strengthening of the US dollar, and simultaneously weakened gold and silver prices. Higher interest rates raise the opportunity cost of holding gold and silver.

HFCL has bagged a ₹2,666 crore order from Rail Vikas Nigam Ltd (RVNL) for its Bharat Net project. This contract is for the Bharat Net Phase III in Uttar Pradesh West. HFCL will supply the telecom equipment and also manage the installation and commissioning. The order encompasses network creation and maintenance. This is in addition to the earlier contract of ₹2,167 crore awarded by RVNL to HFCL for the same project. The project duration is for 2 years of maintenance, 10 years of operations and maintenance, and 1 year warranty. This covers capital and operating costs.

According to Lakshmi Mittal, India is poised to drive the next wave of global steel demand. This is likely to come from large-scale infrastructure projects, urban growth, and energy transition projects over the next 10 years. Drawing analogies with China’s role in the last 20 years, Mittal has underlined that the same role will now be taken over by India. Back in 2006, Mittal had catalysed the merger of Mittal Steel and Arcelor creating the world’s biggest steel manufacturer. The merger had benefited the company in terms of scale, diversification, resilience, and reach.

Reliance Jio is readying for a big bang entry into the space arena with an outlay of close to $15 billion. Reliance Jio is planning a massive 1,600 satellite low earth orbit constellation. The idea is to facilitate direct-to-device connectivity and extent its telecom dominance into space. Reliance Jio is already the largest telecom player in India by a margin. The project is likely to cost $10-$15 billion as per preliminary estimates. It will not only give a boost to digital sovereignty and reduce dependence on foreign infrastructure; but also push Jio as a serious global player.