_Markets open today — sharp gap-down expected; GIFT Nifty futures -356 pts_
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📊 *ECONOMY & POLICY*
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📉 *LPG Prices Up ₹29 — Delhi Cylinder Now ₹942*
Domestic LPG prices rose ₹29 per 14.2-kg cylinder effective June 7, the second hike in three months, taking Delhi’s rate to ₹942 as rising global energy costs from the West Asia conflict pass through to consumers.
Inflation risk for Q1 FY27 rises — this feeds directly into the CPI basket, narrowing RBI’s already-limited rate-cut room and squeezing household discretionary spending.
📎 _Read: Hindu BusinessLine_
🔥 *FPIs Pulled ₹43,000 Cr in First Week of June Alone*
Foreign portfolio investors sold ₹42,926 crore in Indian equities in just the first six days of June, pushing 2026’s cumulative net selling to over ₹2.83 lakh crore — driven by the global AI-trade unwind and sustained rupee weakness.
The RBI and government have responded with FCNR(B) hedging cost absorption, FAR expansion to long-dated G-Secs, and capital gains tax exemptions, but supply-side fixes face a demand-side (global risk appetite) problem.
📎 _Read: NDTV Profit_
🏦 *India Re-Pitching for Global Bond Index Entry — $7–11 Bn at Stake*
India will re-engage Bloomberg and other global bond index operators backed by a strong policy package: FPI capital gains tax exemption on G-Secs (April 2026), FAR route expanded to 15/30/40-year bonds, and removal of FPI limits under the General Route.
Successful inclusion could unlock $7–11 billion in passive inflows — a meaningful offset to ongoing equity FPI outflows, and a structural positive for the rupee and sovereign bond yields.
📎 _Read: Economic Times_
🤝 *Goyal: 9 FTAs to Go Live in 10 Months, More in Pipeline*
Commerce Minister Piyush Goyal said nine recently signed free trade agreements — including deals with key trading partners — are expected to become operationally effective within 10 months, with the India-Canada and India-Chile CEPAs also advancing.
The FTA pipeline is India’s clearest structural lever for export diversification away from tariff-vulnerable US trade; operationalisation timelines matter for export-facing sectors like textiles, pharma, and engineering goods.
📎 _Read: Business Standard_
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🌍 *GLOBAL & WORLD*
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🔥 *Israel Strikes Iran — Brent Above $95, KOSPI Circuit-Breaks at -8%*
Israel launched early Monday airstrikes on central and western Iran following an Iranian missile barrage; Brent crude surged past $95/barrel, WTI hit $92.64, and South Korea’s KOSPI plunged nearly 8% triggering a circuit breaker, with Nikkei and other Asian indices also falling sharply.
For India: GIFT Nifty futures fell 356 points, crude above $95 widens the import bill and current account deficit, the rupee faces fresh pressure, and RBI’s rate-hold stance comes under scrutiny — a simultaneous hit to macro stability and market sentiment.
📎 _Read: AP / TheReader_
🔋 *Iran Still Controls 97% of Hormuz Traffic — India’s Energy Lifeline at Risk*
Lloyd’s List data show Iran-nexus vessels accounted for nearly 97% of Strait of Hormuz crossings in mid-March, and while some non-Iran ships are transiting with Iranian permission, structural control of the chokepoint remains firmly with Tehran.
India routes over 80% of its crude imports through Hormuz — any tightening of access directly raises energy import costs, threatens OMC margins, and reinforces the urgency of India’s Venezuela and Russia crude diversification moves.
📎 _Read: Hindu BusinessLine_
📉 *Nasdaq’s Worst Day Since April 2025 — AI Trade Unravels, Asia Follows*
The Nasdaq fell 4.2% on Friday — its steepest drop since April 2025 — as strong US jobs data revived rate-hike fears and frayed the AI-drives-everything narrative; Asian markets extended the rout Monday with KOSPI -8%, Nikkei lower, and China/HK stocks opening in the red.
Indian IT stocks, which led recent domestic gains on AI deal optimism, face direct compression as global tech multiples contract — watch for sector rotation toward domestic demand plays like PSU banks and FMCG if the selloff deepens.
📎 _Read: Mint_
https://thereader.ai/news/market/asia-markets-tumble-as-tech-rout-deepens-6a260d9cff2915e9d15a206b
💰 *SpaceX IPO at $1.75 Trillion — 30% of Shares Earmarked for Retail*
SpaceX is moving toward a landmark IPO at a potential $1.75 trillion valuation, with up to 30% of shares ($22.5 billion) reserved for retail investors and Fidelity lowering its minimum entry to $2,000 — the largest retail-facing IPO allocation in history.
The deal arrives as global tech sentiment is under stress; its reception will be a live stress-test for whether investor appetite for high-growth, no-near-term-profit tech has survived the AI unwind — a bellwether for global risk appetite heading into H2 2026.
📎 _Read: CNBC TV18_
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_Compiled by Daily Business Briefs · 8 Jun 2026_