Daily Market News Update — (16th-17th June 2026)

Midnight News Update: 16-17 Jun 2026

SpaceX seems to be the new hot stock in the global equity markets. As buyers jumped in to buy the SpaceX stock after a strong listing, the market cap of SpaceX briefly went beyond Amazon and Microsoft, touching a high of $2.92 trillion. The stock of SpaceX was trading at $220, already around 62% above its IPO price of $135 per share. Of course, the US Big-3 viz. NVIDIA, Apple, and Google command a market cap of more than $4 trillion. Most analysts are confident that the valuations of SpaceX were still justified. SpaceX continues to be a net loss-making company.

The monetary policy announcement on tax exemption for FPIs on bonds appears to have ticked the right boxes. In the first couple of weeks in June 2026, FPIs infused more than ₹31,993 crore into Indian bonds to make the best of these sops given by the government. Most of the money came into bonds under the fully accessible route (FAR). FPI holdings in government securities stands at ₹3.56 trillion as of date. There are also expectations that with these tax shifts, Indian government bond may also get included in Bloomberg index; attracting passive flows.

If you have heard of inflation and deflation, the latest trend in FMCG companies is “Shrinkflation.” This is all about reducing the pack sizes and reducing prices in proportion. People are happy to accept a smaller pack, if the pricing is lower. This has become more attractive, especially after the FMCG companies started passing on the input cost spike to customers. Major FMCG companies like Hindustan Unilever and Dabur have successfully adopted Shrinkflation, and the impact has been positive on sales. Soaps alone saw a price hike of 4-5% during the month.

Inox Wind has bagged an ₹8,000 crore order to supply 1,500 MW of wind turbines to Inox Clean Energy. This takes its total order book to more than 4.5 GW. This is also indicative of the fact that Inox Clean Energy is rapidly expanding capacity in sync with rising demand. The order combines the manufacture of wind turbines, EPP, IPC, operations and maintenance under a single platform. For Inox Clean Energy, this order will help them to accelerate project execution and also improve their operational efficiencies. Inox Clean Energy has a 14.5 GW capacity target by FY29.

As the NSE IPO moves closer, the size of the OFS is expected to be closer to a whopping ₹23,000 crore. SBI and LIC are seen among the big sellers in the OFS. Out of the total OFS, state owned institutions are likely to account for around ₹15,500 crore. LIC alone will offer NSE shares worth ₹5,300 crore in the OFS, while SBI group may sell ₹3,700 crore and SHCIL will sell shares worth ₹2,200 crore. Overall equity dilution is expected to be in the range of 4-5%. The other institutions participating in the OFS include New India Assurance, GIC RE, Temasek, and ChrysCapital.

As the US-Iran peace deal moved closer to fruition, the price of Brent Crude fell below $80/bbl. It closed the day at around $78.56/bbl, and has fallen nearly 30% from its recent peak of $110/bbl. In the last few days, oil prices were struggling to move higher. It was not just about the shortfall in supply, but also a question of weak demand. Now, that Iranian supply will also enter the market, the question is whether Brent Crude will get back to $60/bbl. The US and Iran are likely to sign an interim agreement in Switzerland. It may take some time for shipper’s confidence to return.

It looks like India is now investing in that aspect of renewable energy, which needed urgent attention. In the first quarter of 2026, India added nearly 4.6 GWh of energy storage capacity, which will substantially reduce wastage of RE. This is nearly 941% higher on a yoy basis. As of March 2026, India’s cumulative Battery Energy Storage System (BESS) capacity had touched 5.9 GWh. The pipeline is quite robust with 57.2 GW of projects in various stages of development. It is good that focus on energy storage is finally getting the attention that it deserves in India.

The Competition Commission of India (CCI) has cleared the acquisition of PGIM India AMC by the TVS group. The TVS Group will acquire 100% stake in PGIM India AMC, as well as the Trustee company. This will provide the much-needed exposure to the TVS group in the Indian mutual funds business. TVS group will leverage the PGIM presence to boost their AMC and wealth management business. Interestingly, PGIM marks one more case of a foreign AMC player exiting India; after the likes of JP Morgan, Morgan Stanley, Fidelity, Deutsche, Goldman Sachs etc.