Daily Market News Update — (24th-25th June 2026)

Midnight News Update: 24-25 Jun 2026

Commodities continued to fall sharply in global markets. Brent Crude fell to $74/bbl the lowest level since the war started; more on demand concerns. Gold dipped below $4,000/oz for the first time since the start of 2026. From the peaks of January 2026, spot gold is down around 29%, while spot silver is down 50% from the peak of January 2026. In the case of precious metals, it was a combination of dollar strengthening and the possibility of a rate hike by the Fed, that has subdued gold and silver prices. Higher rates raise the opportunity cost of holding gold and silver.

The RBI governor, Sanjay Malhotra, has emphasized that it was premature to discuss about rate hikes at this point of time. While there were talks of a rate hike by the RBI amid rising headline inflation; that looks to be tapering with falling crude prices. Regarding talks of raising rates to defend the rupee, Malhotra underlined that the capital outflows from FCNR(B) deposits and ECBs will be sufficient to defend the rupee. RBI has been insisting that rate action will be data-driven and no guidance will be provided. In response, 10-year yields fell by 5 bps to 6.82%.

Airfares in India may increase sharply as jet fuel supply is likely to lag demand. The supply pressure is already visible from the fact that the jet fuel crack spread has surged from $20/bbl to $50/bbl. Even assuming that the war is over and normal traffic resumes through the Straits of Hormuz, the primary focus will be on rebuilding inventories, so supplies may continue to remain under pressure. In fact, analysts are expecting that the airfares may spike by up to 25%, since fuel costs account for bulk of the operating costs of an airline. Supply chains will also take time to normalize.

JP Morgan has downgraded HCL Tech, Wipro, and Tata Technologies from Neutral to Underweight, and has also cut their target prices. According to JP Morgan, the big concern today is not the amount spent on AI, but actual productivity of AI spending that can be demonstrated. However, JP Morgan remains positive on select IT players like TCS, Infosys and Tech Mahindra among the large caps. In the mid-cap space, JPM likes Coforge and Persistent. Indian IT delivered just 2-3% revenue growth in last couple of years. Topline growth remains the real big challenge.

In its latest review, MSCI has decided to retail Korea’s status as an emerging market (EM), even as there were popular expectations of Korea being elevated to a Developed Market status. An upgrade would have enabled Korea to attract substantially higher global capital flows. According to MSCI, while Korea had worked towards addressing market accessibility, structural bottlenecks were still there. A key constraint is the liquidity of the WON in currency markets. Korea has been the top performing market in 2026, thanks to the AI boom led by Samsung and SK Hynix.

The Cabinet Committee on Economic Affairs (CCEA) is expected to approve the ₹26,000 crore acquisition deal of RBL Bank by Emirates NBD. The latter will invest a sum of $2.75 billion for a 60% controlling stake in RBL Bank. Once approved, it will be the largest ever global FDI in an Indian bank, and the first takeover of an Indian bank by a foreign bank. As per SEBI guidelines, this will be followed by an open offer to shareholders for another 26% stake in RBL Bank. The deal will help RBL Bank to substantially fortify its balance sheet and the eventual integration of operations.

Amazon CEO, Andy Jassy, is betting big on the Indian quick commerce space with plans to expand to 300 cities in India. In India, quick commerce has been dominated by Blinkit, Instamart, and Zepto. Amazon Now has already become the fastest growing vertical of Amazon India, with order volumes doubling each quarter. Amazon Now is currently available to over 5 crore customers across 15 metro and non-metro locations. These include, Bengaluru, Delhi-NCR, Mumbai, Pune, Hyderabad, Amritsar, and Kochi. It is now scaling up its micro-fulfilment centres also.

FMCG companies are increasing their advertising and promotional spends on digital channels. The idea is to attract more customers who are currently part of the quick commerce ecosystem. Major FMCG companies like Nestle India and Dabur are increasing looking at digital channel advertising to cater to a very niche QCOM audience. For example, in the UDRHP filed by Zepto with SEBI, it has underlined that its advertising revenues grew by 151% yoy to ₹1,636 crore. It is a win-win, with FMCG companies getting access and quick commerce companies monetizing digital reach.