Market snapshot
Equities: Wednesday, 17 June close
Indian markets rose on Wednesday, helped by positive global cues and crude oil falling below $80 per barrel. The Nifty 50 opened with a gap-up at 24,045, touched a day high of 24,108.20, and closed at 24,085.70, up 0.40%. The Sensex closed at 77,155.62, up 0.45%.
BSE-listed market capitalisation reclaimed the $5 trillion mark. Investors’ wealth rose by ₹22.78 trillion over four sessions. Broader markets did better than the main indices, led by the Nifty Microcap 250.
| Index | Latest reading |
|---|---|
| Nifty 50 | 24,085.70, up 0.40% |
| Previous Nifty close | 23,989.15 |
| Nifty day high | 24,108.20 |
| Nifty day low | 23,969.70 |
| BSE Sensex | 77,155.62, up 0.45% |
| Previous Sensex close | 76,808.48 |
| Nifty Next 50 | Up 0.64% |
| Nifty Midcap 150 | Up 0.51% |
| Nifty Smallcap 250 | Up 0.73% |
| Nifty Microcap 250 | Up 1.09% |
Zerodha Aftermarket; Mint, June 18, 2026
Detailed sectoral indices and commodity tables in the source report contain image-embedded data. Full data can be checked on the NSE/BSE portals or the Tijori App.
Zerodha Aftermarket Report, 17 June 2026 close.
Sectoral performance: 17 June
Consumer Durables and PSU Bank were the strongest sectors. Auto and Realty ended lower.
Zerodha Aftermarket Report, 17 June 2026 close.
F&O top movers: 17 June
Tata Motors PV was the sharpest F&O loser. The fall came after Jaguar Land Rover guided for a 4% operating profit margin in FY27, far below its earlier near-term target of 10%.
Zerodha Aftermarket Report, 17 June 2026 close.
Commodities: MCX, 17 June
Crude oil stayed in focus because of the expected US-Iran agreement and the possible reopening of the Strait of Hormuz. Brent dropped 15% over the previous four sessions, and crude slipped below $77 per barrel, its lowest level since early March. More than 100 oil-laden tankers are stranded in the Gulf. The US-Iran accord is due to be formally signed in Switzerland on Friday.
| Commodity | Latest reading |
|---|---|
| Crude oil | ₹7,232, up 0.88% |
| Gold | ₹1,52,579 per 10g, down 0.33% |
| Silver | ₹2,48,772 per kg, down 0.52% |
| Natural gas | ₹303.90 per mmbtu, down 0.98% |
| Zinc | ₹370.35 per kg, up 1.13% |
| Copper | ₹1,340.60 per kg, up 0.22% |
| Aluminium | ₹359.65 per kg, up 0.62% |
Mint, June 18, 2026
Currency and bonds: 17 June
| Indicator | Latest reading |
|---|---|
| USD/INR | ₹94.54, down 0.02% |
| India 10-year bond yield | 6.87%, down 0.01% |
| US 10-year bond yield | 4.42%, down 1.12% |
Zerodha Aftermarket; Mint, June 18, 2026
Institutional flows
Foreign institutional investors were net sellers on 16 June, while domestic institutional investors were almost flat for the day. Over five days, FIIs sold ₹5,743 crore, while DIIs bought ₹15,879.1 crore.
| Investor category | Net flow |
|---|---|
| FII net, 16 June | −₹749 crore |
| DII net, 16 June | +₹0.1 crore |
| FII five-day total | −₹5,743 crore |
| DII five-day total | +₹15,879.1 crore |
Zerodha Aftermarket; Mint, June 18, 2026
Lead story: NSE files DRHP for India’s largest-ever IPO
The National Stock Exchange of India filed its Draft Red Herring Prospectus with SEBI on 17 June. The offer could become India’s largest-ever IPO.
The IPO is a pure offer for sale of up to 149 million equity shares. This represents 6% of NSE’s paid-up capital. NSE itself will not raise fresh equity capital. The money will go to the selling shareholders.
Based on indicative grey market prices of at least ₹2,000 per share, the IPO is expected to value NSE at more than ₹5 trillion. The offer size is expected to be approximately ₹29,781 crore. This could make it larger than Hyundai Motor India’s ₹27,858.8 crore IPO and LIC’s ₹20,557.2 crore offer.
NSE will list on BSE. Under Indian market rules, a stock exchange cannot list its own shares on its own platform.
“The stock exchange business globally is a unique and highly resilient market infrastructure business, and the listing of an institution of NSE’s calibre will allow small investors to own a stake in one of India’s most important financial institutions.”Dinesh Thakkar, CMD, Angel One
Mint, June 18, 2026
In FY26 so far, 22 IPOs have raised ₹21,650.17 crore. More than 70 companies have filed draft prospectuses, and nearly 150 have received SEBI’s approval. Investment bankers told Mint they expect a stronger IPO market in the second half of 2026, helped by large expected listings such as NSE, Manipal Health, Jio Platforms, Zepto, SBI Mutual Fund, and Razorpay.
Zerodha Aftermarket; Mint, June 18, 2026
Global markets and crude oil
Crude oil fell below $77 per barrel on 17 June. This was its lowest level since early March. Brent dropped 15% over four sessions as markets priced in a possible US-Iran agreement to reopen the Strait of Hormuz.
The Strait of Hormuz matters because it is a major route for global oil shipments. When shipping through this region is disrupted, crude prices can rise because buyers worry about supply. A reopening can reduce some of that pressure, but oil markets may take time to normalise because more than 100 oil-laden tankers are still stranded in the Gulf.
The International Energy Agency’s June 2026 monthly oil market outlook expects global oil demand to rise by 2 million barrels per day to 105.3 million barrels per day. The global crude oil market is expected to tighten in 2026 before supply turns to surplus in 2027.
For Indian oil marketing companies, integrated margins have risen to $15 to $17 per barrel, or ₹8.9 to ₹10.0 per litre, according to Nomura. OMC shares have gained 8% to 11% since 11 June, but they are still 8% to 22% below their 27 February close. Global oil inventory is 1 billion barrels below pre-war levels, according to Emkay Global.
Mint; Zerodha Aftermarket, June 18, 2026
The Fed, trade deals, and liquidity
US Federal Reserve and India-US talks
The US Federal Reserve kept interest rates unchanged at 3.50% to 3.75% for the fourth straight meeting. This was the first policy decision under new Fed Chair Kevin Warsh.
US retail sales rose 0.9% month-on-month in May. This was higher than expectations of 0.5% and faster than April’s revised 0.4% growth.
Prime Minister Modi and President Trump met on the sidelines of the G7. This was their first meeting since February 2025. Trump described Modi as a “tough negotiator” and said the two countries were working on trade deals. Modi raised the safety of Indian seafarers operating in the Strait of Hormuz region as a matter of “utmost importance.”
Mint; Zerodha Aftermarket, June 18, 2026
Trade agreements: India-UK CETA and India-EU FTA
India and the UK announced that the Comprehensive Economic and Trade Agreement and the Double Contribution Convention will come into force on 15 July 2026.
CETA gives immediate duty-free access on 99% of India’s tariff lines. Tariffs will be reduced to zero on several categories:
- Processed foods, where tariffs were up to 70%.
- Marine products, where tariffs were 21.5%.
- Engineering goods and auto parts, where tariffs were 18%.
- Leather and footwear, where tariffs were 16%.
- Textiles and clothing, where tariffs were 12%.
- Chemicals and pharma, where tariffs were 8%.
Dairy, cereals, millets, edible oils, and oilseeds are protected from tariff concessions.
Mint; Zerodha Aftermarket, 18 June 2026.
EU Commission President von der Leyen stated at the G7 on 17 June that India and the EU will sign their FTA by the end of 2026. The deal is expected to reduce tariffs on 99% of Indian exports to the EU and cut duties on more than 97% of EU exports to India. The EU estimates that the deal will remove up to €4 billion in annual tariffs for European exporters.
Mint; Zerodha Aftermarket, June 18, 2026
Liquidity: RBI infuses ₹72,300 crore through VRR auctions
The RBI infused ₹72,300 crore of short-term liquidity on 17 June through two Variable Rate Repo auctions. Liquidity had tightened because of advance tax outflows.
The first auction infused ₹50,016 crore through a two-day VRR at a cut-off rate of 5.26%. A second two-day VRR auction added another ₹22,284 crore.
A repo auction adds short-term liquidity to the banking system. Banks borrow from the RBI for a short period, usually against eligible securities.
Mint; Zerodha Aftermarket, June 18, 2026
Policy and structural developments
Banking reforms committee
The finance ministry may ask a new banking reforms committee to consider two major proposals: merging 12 state-run lenders into five and raising the FDI cap in public sector banks from 20% to as much as 49%.
Three people aware of the discussions told Mint that the committee may be headed by former Department of Financial Services secretary M. Nagaraju. A formal announcement on the committee’s composition and terms of reference is expected in early July.
The FY27 Union Budget had proposed a committee to chart “Banking for Viksit Bharat.”
Mint, June 18, 2026
FSSAI licensing overhaul
India has changed its food safety licensing system. Periodic five-year renewals have been replaced with perpetual approvals for 6.7 million food businesses and startups.
The rules also raise the size thresholds for different licence categories:
| Category | Earlier threshold | New threshold |
|---|---|---|
| Basic FSSAI registration | Up to ₹12 lakh revenue | Up to ₹1.5 crore revenue |
| State licence | ₹12 lakh to ₹30 crore | ₹1.5 crore to ₹50 crore |
| Central licence | Above ₹30 crore | Above ₹50 crore |
Mint, June 18, 2026
More than 1 million street vendors are now brought into the formal system. The policies were approved in March 2026 and are now implemented nationwide.
Mint, June 18, 2026
Defence production
India’s annual defence production reached ₹1.78 trillion in FY26. This was 15.6% higher than ₹1.54 trillion in FY25.
Since FY21, defence production has risen 110%. Output in FY21 was ₹84,643 crore.
Defence Ministry; Mint, 18 June 2026.
Strategic oil reserves
India’s current strategic petroleum reserves cover only 9 to 10 days of net crude imports. This is far below Japan and South Korea, which maintain reserves for more than 200 days.
Council on Energy, Environment and Water; Mint, 18 June 2026.
Inflation, prices, and the monsoon
Manufacturing WPI
India’s manufacturing WPI inflation rose to 7.5% in May 2026. This was the highest level since August 2022.
WPI tracks wholesale prices. A high manufacturing WPI means producers may be facing higher input costs. The sharpest price pressure came from chemicals and chemical products, basic metals, and electrical equipment.
Mint, 18 June 2026.
Edible oil prices
Retail edible oil prices may fall by up to 10% in the coming months. This assessment comes from an empowered group of officials and is linked to the West Asia war drawing to an end and the Strait of Hormuz expected to reopen.
Current retail prices are still higher than a year ago.
Mint, 18 June 2026.
Palm oil imports rose 12% to $9.6 billion in FY26. Soyabean oil imports rose 23% to $6.2 billion.
Mint, June 18, 2026
El Niño and kharif sowing
US NOAA forecasts that the temperature anomaly from El Niño could potentially reach 3°C this year. That would be higher than the 1982-83 record of 2.5°C.
Agriculture Secretary Atish Chandra stated that the India Meteorological Department will issue its forecast by the end of June.
“The prediction on when El Niño will set in is still to come. By the end of this month, IMD will come out with the forecast, and then the picture will be clearer. We will then be in the thick of the kharif sowing season and will know how it is going to pan out.” “Whether Indian Ocean Dipole (IOD) will remain neutral or change is something we are watching. IMD is still hopeful that there will be some development that will negate the El Niño effect.”Atish Chandra, Agriculture Secretary, Government of India
Zerodha Aftermarket Report
Critical minerals and rare earths
G7 leaders agreed that no single country should supply more than 60% of their imports of rare earths and permanent magnets by 2030. The bloc aims to reduce this dependency further to 50% later.
China controlled approximately 70% of refining for most critical minerals, according to a 2025 IEA report. China also produces 85% of processed cobalt and 99% of primary gallium.
2025 IEA report; Mint, 18 June 2026.
Mint; Zerodha Aftermarket, June 18, 2026
Global pulse
G7 backs US-Iran deal
G7 leaders backed the US-Iran deal as a “historic opportunity to prevent Iran from acquiring any nuclear weapon,” according to a joint declaration.
A France-UK-led international maritime mission will help restart maritime traffic in the Strait of Hormuz. G7 leaders also issued a joint statement acknowledging Ukraine’s improved battlefield position and pledged fresh sanctions against Russia.
Mint, June 18, 2026
UAE plans zero Hormuz dependency
UAE foreign trade minister Thani Al Zeyoudi said the country is working toward “zero Hormuz dependency.”
The plan includes major expansion of the eastern ports of Dibba, Fujairah, and Khor Fakkan. It also includes additional crude pipelines and new rail and road networks.
Mint, June 18, 2026
Global indices: 17 June close
US market data reflects the prior session.
Zerodha Aftermarket; Mint, 18 June 2026.
Corporate developments
| Company | Development | Notable detail |
|---|---|---|
| Tata Motors PV, JLR | JLR guided for a 4% operating profit margin in FY27, far below its earlier 10% near-term target. FY26 revenue fell 21% to £23 billion after a cyber-attack and US tariff disruptions. North America fell 33% to 87,000 units. China fell 27% to 34,500 units. | JLR expects FY27 revenue to rise 13% to £26 billion. TMPV shares fell 8.10% to ₹361.70. |
| IDBI Bank | Shares rose nearly 18% after reports that the government is exploring ways to restart the long-delayed privatisation. Authorities may reconsider bids from Fairfax Financial Holdings and Emirates NBD, which were earlier rejected for not meeting the reserve price. | Not specified. |
| CtrlS Datacenters | Raised ₹7,000 crore at a $4.8 billion valuation. This includes ₹4,000 crore in its own entity and ₹3,000 crore in a new joint venture with CPP Investments, which will hold 48%. | The promoter Pinnapureddy family retains 91%. CtrlS plans 4 GW capacity by 2031 and targets a 15% to 20% share of India’s data centre market. Operating revenue was ₹1,561.8 crore in FY25, up 16.6% YoY. |
| HDFC Bank | Raised $750 million through five-year dollar-denominated bonds at 90 bps over the benchmark US Treasury yield. | Coupon was 5.067%. Joint lead managers were BofA, Citi, HSBC, JP Morgan, Mashreq, MUFG, and Standard Chartered. |
| GIC Re OFS | The offer for sale was fully subscribed. Both the 2% base offer and 3% greenshoe were taken up. | The government held 82.4% before the sale. Its stake is expected to fall to approximately 77.4%. The Centre has raised ₹19,756.35 crore through disinvestment so far in FY27 against a target of ₹80,000 crore. |
| Adani Green Energy | In early discussions with lenders to raise a dollar loan in two tranches over three months, priced over SOFR, for capital expenditure. | This would be the company’s first overseas borrowing after its $18 million US SEC settlement. |
| Nykaa, FSN E-Commerce | Shares rose more than 3.5% after the company partnered with OpenAI. | Nykaa will integrate its beauty and fashion platforms as connected apps within ChatGPT, allowing product discovery, recommendations, and shopping through ChatGPT conversations. |
| Embassy REIT | Leased 830,000 sq ft to Target Corp. India at Embassy Manyata Business Park, Bengaluru. | The 10-year deal is valued at an estimated ₹1,250 crore, including a deposit of ₹52.36 crore. Rentals escalate 15% every three years. In FY26, Embassy REIT leased 6.4 million sq ft across 86 deals, and net operating income rose 15% YoY to ₹3,760 crore. |
Mint; Zerodha Aftermarket, June 18, 2026
More corporate developments
Reliance AGM on 20 June
Senior leaders at Reliance Industries are working on what is internally called the “RIL manifesto” for AI adoption across workflows. This includes recruitment, budgeting, payroll, revenue forecasting, and business planning.
AI preparedness has also been added to KRA metrics for senior leadership. The company’s AGM is scheduled for 20 June.
Mint; Zerodha Aftermarket, June 18, 2026
SpaceX to acquire Anysphere
SpaceX agreed to acquire Anysphere, the maker of Cursor, in an all-stock deal valued at $60 billion. Cursor is an AI-powered coding tool.
The deal value is more than double Cursor’s November 2024 funding-round valuation of $29.3 billion. Cursor’s annualised sales reached $4 billion in early June. It competes with Anthropic’s Claude Code and OpenAI’s Codex.
Mint; Zerodha Aftermarket, June 18, 2026
Thematic movers
Tijori’s one-day thematic movers were:
Tijori; Zerodha Aftermarket, 18 June 2026.
HiLITE Group, Gujarat SEZs, and corporate actions
HiLITE Group plans to invest ₹25,000 crore over five years to develop 50 million sq ft across Kerala, including Tier-2 and Tier-3 cities.
Gujarat granted in-principle SEZ approvals to Essar Power and Arham SEZ (I) in Devbhumi Dwarka and Kutch. These are expected to generate more than ₹27,600 crore in exports and nearly 10,000 jobs over five years.
Today’s ex-date corporate actions are:
| Company | Corporate action |
|---|---|
| Tata Technologies | Final dividend ₹8.35 and special dividend ₹3.35 |
| GHCL | Final dividend ₹12 |
| HDB Financial Services | Final dividend ₹2 |
| Capital Small Finance Bank | Final dividend ₹5 |
| eMudhra | Final dividend ₹1.25 |
| Vimta Labs | Final dividend ₹2 |
Mint; Zerodha Aftermarket, June 18, 2026
Management commentary
On Biocon’s insulin and GLP-1 strategy
“In five years, we could be the number one insulin company in the world. We are one of the few companies globally that has the scale to address that opportunity.” “We have to be a bit aware that generic GLP-1s are a crowded market. I think being a generics player, we are quite realistic about the fact that there’s a lot of global competition.”Kiran Mazumdar-Shaw, Co-Founder, Biocon Ltd
Zerodha Aftermarket Report
On JLR’s North America focus
“To truly manifest the power of our brands, we will increase our focus on North America, our biggest market. The rising demand for luxury products coupled with the strong preference we see for our brands signals significant growth potential.”P.B. Balaji, Chief Executive, Jaguar Land Rover
Context: JLR guided for a 4% operating profit margin in FY27 versus its earlier 10% target and projected FY27 revenue to rise 13% to £26 billion.
Mint
Upcoming events
Mint; Zerodha Aftermarket, 18 June 2026.
Thursday feature: NSE IPO primer
What is on offer
The National Stock Exchange of India filed its Draft Red Herring Prospectus with SEBI on 17 June. The IPO could become India’s largest-ever offer.
The offer is entirely an offer for sale. This means NSE is not issuing new shares and will not receive fresh equity capital. Existing shareholders are selling part of their holdings to the public.
Mint, 18 June 2026; NSE India; GetTogetherFinance.com
What an IPO is
An Initial Public Offering is when a private company sells shares to the public for the first time. After the IPO, the company becomes publicly traded and its shares can be listed on exchanges such as the NSE or BSE.
An IPO can have two main parts:
- Fresh issue: The company issues new shares. The money goes to the company as share capital.
- Offer for sale: Existing shareholders sell their shares. The money goes to those selling shareholders.
NSE’s IPO is a pure OFS. No fresh capital is being raised by NSE.
NSE India; GetTogetherFinance.com
DRHP and price discovery
The Draft Red Herring Prospectus is the detailed offer document filed with SEBI before an IPO. It contains information on the company’s financials, business model, risk factors, and use of funds.
SEBI reviews the DRHP and provides observations. Companies must respond to SEBI’s feedback before moving ahead.
SEBI defines book building as “a process undertaken by which a demand for the securities proposed to be issued by a body corporate is elicited and built up and the price for such securities is assessed.”
The price band is the range within which investors bid. It has a floor price and a cap price. The final issue price is decided based on demand.
IPO shares are allocated across three main investor categories:
| Category | Who it includes |
|---|---|
| Retail Individual Investors, RII | Investors applying for ₹2 lakh or less |
| Non-Institutional Investors or HNIs, NII/HNI | Investors applying for more than ₹2 lakh |
| Qualified Institutional Buyers, QIB | Mutual funds, insurance companies, banks |
NSE India; GetTogetherFinance.com
NSE IPO structure and selling shareholders
NSE’s offer is a pure OFS of up to 149 million equity shares. This is 6% of NSE’s paid-up capital. Since no fresh shares are being issued, all proceeds will go to the selling shareholders.
SBI is the largest selling shareholder. Kotak Mahindra Capital and Morgan Stanley India are among the 20 investment bankers in the IPO syndicate.
Mint, 18 June 2026; PRIME Database.
LIC, Premji Invest, and Radhakishan Damani are not participating in the offer. LIC holds a 10.72% stake, Premji Invest holds 2.35%, and Radhakishan Damani holds 1.58%.
NSE will list on BSE because Indian market regulations do not allow a stock exchange to list its shares on its own platform.
Mint, 18 June 2026; PRIME Database
Indicative size and historical context
Based on indicative grey market prices of at least ₹2,000 per share, the NSE IPO is expected to value the exchange at more than ₹5 trillion. The offer size is expected to be approximately ₹29,781 crore.
This would make it larger than Hyundai Motor India’s ₹27,858.8 crore IPO and LIC’s ₹20,557.2 crore offer.
Mint, 18 June 2026; PRIME Database.
The brief notes that grey market prices are not mathematically certified. The final price band is set by merchant banks.
NSE first filed IPO papers in 2016. The process was later shelved after the co-location scandal. In January 2026, NSE reached a ₹1,300 crore settlement with SEBI and received approval to refile.
The broader IPO market is also active. In 2026 so far, 22 IPOs have raised ₹21,650.17 crore. More than 70 companies have filed draft prospectuses, and nearly 150 have received SEBI’s approval. Investment bankers told Mint that they expect a stronger IPO market in the second half of 2026.
Mint, 18 June 2026; PRIME Database
NSE IPO at a glance
| Item | Detail |
|---|---|
| Shares on offer | 149 million |
| Share of NSE paid-up capital | 6% |
| Offer type | Pure OFS |
| Fresh capital raised by NSE | None |
| Listing exchange | BSE |
| Indicative NSE valuation | More than ₹5 trillion |
| Indicative offer size | Approximately ₹29,781 crore |
| SEBI settlement | ₹1,300 crore in January 2026 |
Mint, 18 June 2026; NSE India; PRIME Database
The day at a glance
| Indicator | Reading |
|---|---|
| Nifty 50 | 24,085.70, up 0.40% |
| BSE Sensex | 77,155.62, up 0.45% |
| BSE-listed market cap | Reclaimed $5 trillion |
| Crude oil, MCX | ₹7,232, up 0.88% |
| Brent crude | Below $77 per barrel, down 15% over four sessions |
| Manufacturing WPI, May | 7.5%, highest since August 2022 |
| FII net, 16 June | −₹749 crore |
| DII five-day total | +₹15,879.1 crore |
| RBI VRR liquidity, 17 June | ₹72,300 crore |
| NSE IPO indicative size | Approximately ₹29,781 crore |
Mint, June 18, 2026; Zerodha Aftermarket Report, 17 June 2026 close
Closing thought
“The four most dangerous words in investing are: ‘This time it’s different.’”Sir John Templeton
Compiled from Mint Newspaper, 18 June 2026; Zerodha Aftermarket Report, 17 June 2026 close; NSE India, nseindia.com; and GetTogetherFinance.com. Markets data reflects Wednesday, 17 June 2026 close. For informational purposes only. Not investment analysis.