11:11 | Banking stocks rally, CEA flags growth risks; HSBC bets on auto parts maker Belrise

Good morning!

 

Banking stocks powered markets higher on Tuesday as the Nifty Bank index outpaced the broader market. Chief Economic Adviser V Anantha Nageswaran cautioned that higher oil prices and global uncertainties could weigh on India's growth outlook in FY27. Meanwhile, HSBC initiated coverage on auto components maker Belrise Industries with a "Buy" rating and sees further upside in the stock.

 

The Day Ahead

Dark Patterns Report Launch (12 pm): The government will release a report on dark patterns in India's

online marketplaces. The findings could shape future enforcement and compliance requirements as regulators intensify scrutiny of misleading online practices.

 

NFIB Small Business Optimism Index (3:30 pm IST): The latest reading of the closely watched US small business sentiment gauge will offer clues on hiring, investment and inflation expectations. The data comes at a time when investors are assessing whether higher fuel prices and global uncertainty are beginning to weigh on business confidence and economic growth.

 

Explained - The key factors behind the rally in banking stocks on Tuesday

India's banking stocks are lending support to the market on Tuesday, June 9, with the Nifty Bank index outperforming the benchmark Nifty 50 index. All constituents of the Nifty Bank are trading with gains on Tuesday.

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SpaceX top? Major IPOs don't typically flag a bull market peak, history shows

Historical data suggest that major IPOs don't usually flag a bull market peak in the year that follows. SpaceX is poised to launch the biggest IPO ever when it begins trading this Friday. But a recent analysis from Canaccord Genuity shows that broad stock market averages typically tend to outperform big IPOs after a year.

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US says BYD, Baidu, Alibaba and other tech giants are aiding China's military

The US on Monday added Chinese e-commerce giant Alibaba, internet search provider Baidu and automaker BYD to a list of companies it believes are aiding Beijing's military, in a move that could inflame tensions between the countries.

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China's Xi vows unwavering support for North Korea's Kim in rare Pyongyang visit

China will not swerve from its commitment to safeguarding common interests with North Korea or waver in its support for Kim Jong Un, President Xi Jinping told the North's leader on Monday during a rare Pyongyang summit.

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Jet fuel costs squeeze airlines as US carriers double April fuel bill, global profit forecast falls

US airlines spent more than $6 billion on jet fuel in April, up 78% from a year earlier despite using slightly less fuel, government data released Monday showed. Meanwhile, the airline industry's top global trade group warned that soaring energy costs could nearly halve profits in 2026.

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Trump approval near record low as Iran war and gas prices drive voter discontent

US President Donald Trump's approval rate held near the lowest levels of his political career in recent days as most Americans said they expected gasoline prices to keep ‌rising amid the Iran war, according to a Reuters/Ipsos poll completed on Monday.

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India's growth may slow in FY27 as oil prices and global uncertainty rise, warns Chief Economic Adviser

Chief Economic Adviser V. Anantha Nageswaran has cautioned that while FY26 delivered a stellar economic performance, the outlook for FY27 remains clouded by significant global uncertainties, particularly due to elevated energy prices and external risks.

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Stocks to Buy: This auto parts maker is already up 137% from its IPO price and HSBC sees further upside

Shares of Belrise Industries Ltd. will be in focus on Tuesday, June 9, after HSBC initiated coverage on the auto components manufacturer with a "Buy" rating. The brokerage firm set a price target of ₹270 for the stock, implying an upside potential of nearly 26% from Monday's closing price of ₹214.85.

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Gold, silver edge lower: Key factors keeping bullion under check

Gold and silver prices remained under pressure on Tuesday (June 9), extending their recent decline as investors reassessed expectations for US monetary policy following strong economic data and rising Treasury yields.

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IndiGo is a fantastic and well-run airline, says incoming chief Willie Walsh

Ahead of taking charge at IndiGo, Willie Walsh has described India's largest airline as a "fantastic airline" with ambitious growth plans, while warning that high fuel costs, aircraft groundings and taxation remain key challenges for the country's aviation sector.

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24 Indian crew rescued after missile attack on tanker off Oman coast

All 24 Indian crew members aboard the Palau-flagged tanker MT Marivex were safely rescued after the vessel came under a missile attack while anchored off Masirah, Oman, the Indian Coast Guard said Tuesday, June 9.

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