Markets

UPI processed a record 23.2 billion transactions worth Rs 29.90 lakh crore in May 2026, up 3.8% from April, per NPCI data. The milestone deepens pressure on regulators to address market concentration, with PhonePe and Google Pay together holding nearly 80% of transaction volume.

Maruti Suzuki India recorded its highest-ever monthly sales in May, with total dispatches jumping 34.76 percent year-on-year to 242,688 units. The record covers domestic sales, exports, and light commercial vehicles, signaling strong consumer demand and raising expectations for quarterly revenue.

US stocks edged higher as Brent crude fell 1.71% to $92.11 per barrel, easing inflation pressure on markets. Traders are holding back on bigger moves while awaiting clarity on a potential Iran truce deal.

PB Fintech cofounders Yashish Dahiya and Alok Bansal sold 38 lakh shares worth ₹665.4 crore via block deals at ₹1,751 per share, a 2.8% premium to the last BSE close. Goldman Sachs, Morgan Stanley, Tata Mutual Fund, and others absorbed the supply as the stock fell 4.56% on Friday.

Indian equities fell on Friday as MSCI index rebalancing triggered mechanical foreign fund outflows, compounding unease over US-Iran nuclear talks. Cheaper oil from a tentative ceasefire extension offered limited comfort, with domestic institutions partially offsetting foreign selling.

SpaceX is approaching an IPO that could value the company at $1.75 trillion or more, making it potentially the largest public debut in history. A pre-IPO discounted cash flow analysis across its launch, Starlink, and xAI businesses puts intrinsic value at roughly $1.22 trillion, well below rumored offering prices.

Bharat Dynamics shares fell over 8% after reporting a 58.5% drop in Q4 profit for FY26, driven by execution delays and rising costs. Motilal Oswal downgraded the stock and cut its target price, raising doubts about near-term earnings recovery.

The Nifty IT index surged nearly 3% as Wipro, Infosys, TCS, and Coforge attracted strong buying interest. Improved market sentiment, AI optimism, and compressed valuations combined to pull investors back into the sector.

The Sensex fell roughly 1,000 points and the Nifty dropped over 200 points in five minutes as selling hit stocks of all sizes. The Nifty Midcap 150 closed 1.37% lower, pointing to broad risk-off pressure across the Indian equity market.

The BSE Sensex dropped 1,092 points to close at 74,775.74, while the Nifty 50 fell 359 points to 23,547.75, wiping out roughly Rs 6 lakh crore in investor wealth in a single session. The broad-based selloff raises short-term caution across Indian equity markets.

The US dollar is heading for a weekly decline after reports of a potential US-Iran ceasefire deal reduced demand for safe-haven assets. A confirmed agreement could extend dollar weakness and lift emerging market currencies and commodity prices.

Asian Paints, IndiGo, NMDC, Glenmark Pharma, IREDA, and around a dozen other listed Indian companies report their January-March quarter earnings today. The results cover consumer, aviation, metals, pharma, and green energy sectors, making it one of the busiest days of this earnings season.

Wall Street was set for a muted open as investors processed the latest inflation data and monitored Middle East peace signals. Neither input provided a strong enough catalyst to move the Dow or Nasdaq decisively in either direction.

Oil prices rebounded Thursday after a 5% drop, as new US strikes near the Strait of Hormuz and Kuwait repelling drone attacks intensified supply fears. Washington and Tehran remain deadlocked over reopening the strait, keeping a floor under crude prices.

PhonePe's UPI market share rose to 47.07% in April 2026, even as total UPI volume dipped 1.3% month-on-month to 2,235 crore transactions. With an IPO on the horizon and NPCI's 30% market share cap deadline set for December 2026, regulatory pressure on the company is building.

Goldman Sachs has raised its S&P 500 price target for 2026 to 8,000, driven by strong corporate earnings and growing AI investment. The upgrade signals institutional confidence that AI spending will deliver real profit growth, supporting continued inflows into US equities.

Beijing has blocked all H200 chip purchases from Nvidia after the Trump administration imposed a 25% tariff on semiconductor exports to China, costing Nvidia roughly $30 billion in market value.

Brent crude crossed $100 a barrel after fresh US strikes on Iran and Tehran's warnings raised the risk of disruption to the Strait of Hormuz, the route for roughly a fifth of global oil trade. The move reverses optimism around a US-Iran deal and raises inflation risk for oil-importing economies.

The Sensex fell 1,456 points on Tuesday and the Nifty closed at 23,379, driven by the Iran-US deadlock, rising crude oil prices, and the rupee sliding to 95.63 against the dollar. The combination raises import costs, pressures corporate margins, and could trigger further foreign investor outflows.

The Indian rupee hit a record low of 95.63 against the dollar, making it Asia's worst-performing major currency in 2026. A nearly 5% slide since the Iran war began on February 28 is being driven by higher oil import costs and accelerating foreign capital outflows.