Daily Market News Update — 09th-10th June 2026

Midnight News Update: 09-10 Jun 2026

For the third year in a row, India reported a current account surplus in the fourth quarter of the year. For Q4FY24, the current account surplus at $7.1 billion reduced the full year current account deficit to $25.2 billion, or 0.6% of the GDP. The substantial spike in the merchandise trade deficit (due to higher oil and gold prices), was largely offset by an increase in services surplus and a 30% surge in NRI remittances for FY26. However, economists are apprehensive that FY27 could see the full pressure of the ongoing war in the Middle East worsening the CAD position.

Government is working to get Indian bonds included in Bloomberg Global Aggregate Bond Index, which can attract flows from global passive funds and ETFs. Recently, centre announced measures like exempting LTCG and interest on government bonds from tax, and expanding the FAR list for FPI investment. Both these factors remove anomalies in the Indian bond market and pave the way for inclusion in the Bloomberg index. In January, Bloomberg had deferred inclusion of Indian bonds to July. Indian bonds are already part of JP Morgan and FTSE Russell bond indices.

With the downstream oil companies losing nearly ₹652 crore every day, despite the recent price hikes, the government is readying a package of ₹1,23,000 crore to support the OMCs in holding oil prices at low levels. For the government, a hike in petrol and diesel prices is not only politically sensitive, but also inflationary. This package covers losses of the first 78 days of war and includes benefits given to oil companies via excise duty reduction. The government has to work out a similar package for fertilizer sector also, which has been selling at subsidized prices to farmers.

Amidst the sharp fall in the rupee, India is literally rolling out the red carpet attract foreign capital flows. India needs heavy FPI flows to help fund the budget deficit. Apart from exempting FPIs from LTCG tax and interest tax on bond investments, they have also expanded the FAR list. In addition, the government will bear the cost of ECB hedging and hedging of FCNR(B) deposits from NRIs. This will be a limited period window. Such deposits will also be free from CRR and SLR requirements. Jefferies expects this package to attract foreign flows of nearly $70 billion into India.

Adani Energy will pay ₹3,050 crore to acquire Intellismart, a manufacturer of smart meters. Adani Energy expects the smart meter business to eventually generate sales of ₹30,000 crore. Adani Energy Solutions targets to replace the 25 crore conventional meters with smart meters, which will substantially reduce leakages in electricity. Adani Energy already has a 17% market share in smart maters. This acquisition will raise the total smart meter capacity of Adani Energy Solutions to 4.7 crore smart meters per year. The stock price of Adani Energy is up 74% in last 1 year.

Lilavati Trust filed a ₹1,000 crore defamation suit against HDFC Bank and CEO Sashidhar Jagdishan for falsely portraying the group and its trustee Prashant Mehta as loan defaulters. The trust has claimed that such allegations impacted their standing and credibility in the public domain. They also demanded a gag order on the bank, which the HC has declined. The case is more than 20 years old pertaining to loans given to the Mehta family by HDFC Bank. HC also pointed out that the Mehta group had used similar tactics in the past to stall recovery proceedings by the bank.

Grasim is targeting capex of ₹3,094 crore for its 1,10,000 TPA fiber capacity by year 2030. This will be Phase II of Lyocell capacity expansion at Harihar Plant in Karnataka. When fully operational, Grasim will have total Lyocell capacity of 2,10,000 TPA. This will help the company upgrade its product line to advanced textile inputs. Lyocell is made of wood pulp and is more environment-friendly compared to viscose and cotton. It has extensive end-use in apparel, home textiles, and technical segments. It will be a high-performance fibre with low environment footprint.

According to a recent report by Datum Intelligence, Indian online buyers are losing ₹28,000 crore per year to dark patterns and hidden charges. These traps include forced add-ons, drop pricing, false urgency rules, hidden costs, and subscription traps. Existing regulations have had limited success in curbing deceptive digital practices. In terms of trust, Amazon was most trusted in online commerce, while Flipkart was the least trusted. Most people are aware of dark patterns, but still find online buying convenient. Buyers are willing to pay a premium for transparency.