India Daily Briefing

A US-Iran peace framework triggered a 5% crude oil price drop and a 3.94% silver rally to $70.70, easing RBI rate-hike fears. India imports over $100 billion in crude oil annually — a sustained price decline materially improves the current account, reduces domestic inflation, and gives the RBI room to hold or cut rates. Mint Markets covered gold and silver extending gains as the Strait of Hormuz reopening removes the oil supply risk premium.

SpaceX SPCX IPO — the largest in history — raised $85.7 billion after underwriters exercised the full greenshoe option, with shares up 9.2% on the second day of trading to $176, valuing the company at over $2 trillion. Economic Times Markets covered the story in depth. While US-listed, SpaceX's IPO resets global valuations for the tech-innovation sector and is directly relevant to Indian retail investors and mutual fund schemes with US equity exposure — the new benchmark will ripple into fund NAV calculations and sector weight debates.

India achieved a current account surplus of $4.7 billion in April, driven by remittances and a strong services surplus — a positive structural signal that the external account is improving even before the Iran deal oil savings flow through. A sustained surplus reduces pressure on the INR and gives the RBI more foreign exchange reserve headroom. Combined with today's DII inflows of ₹3,189 crore, the macro picture is constructively positioned for continued market strength into Q3 2026.