Weekly Market Impact — for the week ending on 26th June 2026

Weekly Capsule (Jun 22 – Jun 26) and Impact Analysis

Andy Jassy, CEO of Amazon, bets big on quick commerce potential in India

• Quick Commerce has already become the fastest growing vertical of Amazon India; doubling volumes each quarter
• Amazon Now already reaches out to 5 crore customers across 15 metro and non-metro locations, with focus on non-metros

MSCI, in its latest review, decides to retain Korea as Emerging Market

• With its AI boom and high per capita GDP, there were hopes of Korea being shifted to “Developed Economy” category
• MSCI underlined that while market accessibility had improved, structural challenges like WON liquidity were still an issue

RBI announces new Upper Layer NBFC guidelines; keeps it broadly ambiguous

• While a size threshold of ₹1 trillion assets has been set, the inclusion in NBFC-UL would be at the discretion of the RBI
• This offers some breathing space to Tata Sons, which had lobbied hard against being forced to list on the bourses

Global commodities fell sharply amid strong dollar and growth revival hopes

• Brent fell to $74/bbl, Spot Gold touched a low of $3,959/oz and silver touched a low of $55.61/oz during the week
• While Crude has fallen 40% from 2026 highs, gold is down nearly 30% and silver 52% from the highs of January 2026

RBI clarifies that banks can offer loans to NRIs to invest in FCNR(B) deposits

• Leverage is more attractive for NRIs, as they can get low-cost loans to invest in FCNR deposits with zero currency risk
• Banks will be allowed to offer these loans to NRIs, either from their foreign branches or through their Gift City, IFSC office

Share of gold loans in retail loan basket surges from 18% to 41% in 3 years

• This was highlighted by Experian India in its latest report; with NBFCs stealing a march over banks in gold loan growth
• Falling gold prices could pose a huge systemic risk for gold loans, since most loans have been offered at around 75% LTV

Semiconductor stocks witness selling pressure on NASDAQ during the week

• This was true of most chip stocks including stocks like NVIDIA, Intel, Advanced Micro Devices, Micron, SK Hynix, TSMC etc
• There are increasing concerns that the AI productivity and ROI may not measure up to the massive AI investments made

May-26 core sector growth falls to a 7-month low of 0.5% as energy takes a hit

• Coal output contracted -9.6%, crude oil output contracted by -4.6%, and heavyweight refining fell by -8.7% for May 2026
• This was partially compensated by robust 8% plus growth reported by steel and power and 5% plus growth in cement

Meta invests $900 million in CRED; picks Kunal Shah for Meta top brass

• The latest round of funding values CRED at an indicative valuation of $4.5 billion; top dollars for an Indian fintech
• As part of the deal, Kunal Shah will give up his operational role in CRED and move to the global leadership team of Meta

FPIs show contrasting flow trend in Indian equity and debt instruments

• Despite being net buyers in the week, FPIs were net sellers to the tune of $5.55 billion for the month of June till date
• However, thanks to the expanded FAR list and tax-free capital gains and interest on debt, FPIs bought bonds worth $5 billion

USDINR remained rangebound around ₹94.50/$ during the latest week

• While the dollar strength put some pressure on the rupee, that was offset by the strong debt market flows into India
• The US-Iran truce has given a sentimental boost to the rupee, although a Hormuz toll could start to weigh on the rupee

Amit Nanda of Amazon India replaces Hari Menon as head of Big Basket

• Big Basket of the Tata group has been one of the high-outlay low-output digital ventures of the Tata group, under review
• The outgoing chief, Hari Menon, admitted that they had been in denial about the potential of quick commerce in India

Goldman Sachs upgrades India 2026 GDP growth by 30 bps to 6.8%

• This upgrade is on the back of the peace deal signed between the US and Iran, which is likely to normalize crude oil flows
• At the same time, Goldman also lifted India’s FY27 growth forecast by 40 bps to 6.5%, on lower inflation expectations

Tata Motors to invest ₹40,000 crore capex to double PV output by 2031

• By 2031, Tata Motors is targeting a passenger vehicle (PV) market share of 20%, including through new models
• Tata Motors expects Electric Vehicles (EV) and CNG vehicles to drive growth in the PV segment and is enhancing battery tech

Airtel outpaces Jio in wireless phone connection accretions in May 2025

• While Airtel added 2.93 million users, Jio added just 2.15 million users; and Airtel has a much better story on ARPUs
• However, Jio continues to lead in market share with a 39.27% share; although Airtel and Vodafone are rapidly gaining share

Amidst a tepid year for IPOs, Ather Energy stands out with 200% returns

• Ather Energy, backed by the Munjal family, has been the best performing IPO in the last 1 year, amid solid EV market growth
• However, most brokers are of the view that the rally may be just the tip of the iceberg, with more positive action likely

Russia share in Indian oil basket crosses 50% in June amidst Hormuz blockade

• While US has only given temporary waiver to Russia from the sanctions, India is likely to continue buying Russian oil
• Not only is Russia offering attractive discounts, but it will be difficult to replace Russian oil; especially after the Gulf fiasco

L&T goes aggressive in expanding its data centre footprint via LTADCPL

• LTADCPL has been floated by L&T purely to set up data centres across India and provide technology-enabled services
• Bulk of the margins of the L&T group is provided by the IT vertical, and data centres would be a logical extension

Adani Airports to pump ₹20,000 crore to develop 22 million SFT Airport Cities

• This will just be the first phase of monetizing the space at various airports by creating urban and commercial hubs
• This will also enable the airport venture to generate revenue streams that are much beyond the traditional airport charges

Infosys eyes $400 billion AI-first service opportunity globally by year 2030

• This growth is likely to be triggered by companies rushing to modernize legacy systems and integrating with AI
• There is still a big gap in taking AI to the transaction platform and that is where Nandan Nilekani sees the big opportunity

Hormuz opening likely to reduce India fertilizer subsidy bill by ₹90,000 crore

• The sharp fall in fertilizer subsidy will be due to normalization of the prices of urea, and crude reverting to pre-war levels
• The Gulf war had taken the fertilizer subsidy burden for the year to an estimated ₹3,50,000 crore; so, it is a big relief