Daily Market News Update — 07th-08th September 2026

Midnight News Update: 07-08 Sep 2026

The Defence Acquisitions Council (DAC) has cleared purchases worth ₹1,10,000 crore for the armed forces. Nearly 98% of these purchases will be sourced from Indian suppliers. The idea is to improve the combat capabilities with purchase of radars, advanced light helicopters, mechanical mine-layers, etc. The army will get CBRN recce vehicles, mechanical mine-layers, tanks and bridge systems. The Air Force gets its fighters and advanced light helicopters. The Navy gets Arudhra Radars, and marine gas turbines (MGT). Advanced jammers have also been approved.

With Fairfax planning to exit its stake in IIFL Finance, it is likely that Blackstone may come in as an investor. Fairfax, which is the likely suitor for IDBI Bank, has to exit other BFSI businesses to comply with regulatory guidelines. Fairfax will have to sell its entire stake in IIFL Finance before it can take over IDBI Bank. Blackstone is in talks with Fairfax for the stake. Currently, Fairfax holds a 15.2% stake in IIFL Finance. Fairfax plans to infuse nearly $6.2 billion for a 60.7% stake in IDBI Bank. IIFL Finance has a market cap of $2.9 billion, so the 15.2% stake will be close to $440 million.

Private lenders have cornered nearly 50% of the flows through the FCNR(B) route. Out of the $127 billion in FCNR(B) flows till the closure of the window on 31-Aug; private lenders got $61 billion. Nearly 80% of the deposits coming through the FCNR(B) route were funded deposits to capitalize on the interest rate differential. While PSU banks collected $37 billion, the foreign banks chipped in with nearly $32 billion. The final tally is likely to exceed $130 billion, once all the AD reporting is completed by 11-September. India saw domestic liquidity surge to above ₹10 trillion.

Pernod Ricard India has picked 4 investment bankers for its proposed $1 billion IPO. Pernod Ricard is a French liquor company with marquee global brands like Chivas Regal Whisky and Absolut Vodka. For Pernor Ricard, India is the second largest market globally. Its India portfolio includes Royal Stag, the world’s largest selling whisky in 2025. The shortlisted investment bankers are Kotak, Goldman Sachs, JP Morgan, and BOFA Securities. Carlsberg of Denmark had also filed confidentially for an IPO in India worth $700 million. Pernod Ricard India had FY25 sales of ₹27,445 crore.

With the festive season coming up, the rising prices of sugar are likely to impact prices of mithai, chocolates and biscuits. Even as FMCG companies are planning price hikes, they are also betting on ecommerce to drive sales in the festive season this year. During the festive season, ecommerce sales is expected to increase by nearly 30% over last year, with likely digital sales crossing above ₹1,55,000 crore. This is likely to be triggered by a sharp rise in the gross market value (GMV), but overall impact may be reduced by the discounts and other offers during the season.

For October 2026, the OPEC Plus has kept its oil supply policy unchanged. Oil supplies have been badly disrupted due to a slowing of traffic through the Straits of Hormuz and the Bab-al-Mandeb. For September 2026, the OPEC Plus had agreed to roll back its 1.65 million bpd supply cut. However, due to the supply chain constraints, the OPEC Plus nations are currently supplying well below that level. Even Russian supplies have been hit by Ukraine’s persistent attacks on Russian oil & gas facilities. OPEC Plus, today, has limited control over the global oil supply chain.

India is finally seeing the use of alternate fuels overtake the use of traditional fossil fuels in vehicles. CNG, EVs, and hybrids are gaining ground rapidly in India. Interestingly, the surge in non-fuel growth has been triggered by rural India, which has shown a much higher appetite for CNG and EV vehicles. Amid fuel price uncertainty, customers in India are opting for powertrains offering lower running costs. While the government has kept the market price of petrol and diesel in check. The markets are sceptical that it may not be possible if Brent crude went above $100/bbl.

In one of the biggest start-up funding deals of the year, Pixxel has bagged $100 million in funding from Temasek of Singapore and Seraphim. Pixxel is a specialized SpaceTech player in India. This also marks one of the largest funding rounds in the SpaceTech area. Space technology is getting a lot of risk capital as India is opening up the space sector rapidly to the private sector. Apart from the 2 major investors, even 360-One participated as an investor in this round. Pixxel already has the backing of Radical Ventures and GrowX Ventures; who also participated in this round.