Starlink India Cleared For Launch

June 06, 2025

TLDR

📈 Market Recap: June 06, 2025

On June 6, 2025, Indian equity markets surged, with the BSE Sensex climbing 746.95 points (0.92%) to close at 82,188.99, and the NSE Nifty 50 rising 252.15 points (1.02%) to settle at 25,003.05.

Key Drivers:

  • RBI's Monetary Policy Easing: The Reserve Bank of India (RBI) announced a 50 basis point cut in the repo rate to 5.5% and a 100 basis point reduction in the Cash Reserve Ratio (CRR), exceeding market expectations and boosting investor sentiment.

  • Sector Performance: All sectoral indices, except Media, ended in the green. Notably, the Realty index gained over 4%, while Metal, Auto, and Consumer Durables each rose more than 1%.

  • Investor Sentiment: The RBI's aggressive policy stance aimed at stimulating economic growth led to a broad-based rally, with rate-sensitive sectors like banking, real estate, and automobiles leading the gains. 

Today’s Top Stories:

  1. RBI Surprises with 50 bps Repo, 100 bps CRR Cut:  RBI slashed the repo rate by 50 bps to 5.5% and CRR by 100 bps, sparking a sharp rally in rate-sensitive stocks.

  2. Muthoot Finance, Gold NBFCs Surge on Eased Norms:  Gold loan NBFCs like Muthoot Finance soared up to 7% after the RBI signalled regulatory relief for gold loans. $MUTHOOTFIN.NSE ( ▲ 6.94% ) 

  3. Starlink Cleared for India Launch: Licence win opens satellite-broadband race against OneWeb & Jio.

  4. IndusInd Bank Gains 5% as RBI Eases Concerns:  IndusInd Bank jumped 5% as the RBI said governance issues are being addressed, boosting investor confidence. $INDUSINDBK.NSE ( ▲ 2.61% ) 

  5. Bajaj Finserv Block Fetches ₹55 bn: Promoters trim 1.8 %; institutional demand absorbs supply with limited price drag. $BAJAJFINSV.NSE ( ▲ 2.25% ) 

MARKETS

Market Snapshot

Nifty 50 Index Heatmap

Top Gainers & Losers

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TOP STORIES

1. RBI Surprises with 50 bps Repo, 100 bps CRR Cut

DALL-E

  • Move: Policy rate lowered to 5.5 %, biggest single cut since 2020; CRR down to 3 %. 

  • Why: April CPI at 3.16 % gave room to pivot from accommodative to neutral while keeping FY26 GDP forecast at 6.5 %.

  • Market reaction: Bank Nifty jumped 1.8 %; 10-yr yield whipped before settling near 6.62 %. Traders now price in a long pause. 

2. Muthoot Finance, Gold NBFCs Surge on Eased Norms

DALL-E

  • Policy move: RBI raised the LTV ratio to 85% for small-ticket gold loans and removed credit appraisal norms for loans under ₹2.5 lakh.

  • Sentiment boost: Governor’s comments signalled reduced risk in unsecured lending, triggering a sharp rally in Muthoot (+7%), Manappuram and IIFL Finance (up to +5%).

  • Sector outlook: Analysts expect improved disbursal efficiency and margin expansion, especially for NBFCs with dominant gold loan portfolios.

3. Starlink Cleared for India Launch

DALL-E

  • Approval: DoT granted Elon Musk’s Starlink a Global Mobile Personal Communication by Satellite (GMPCS) permit, the third such nod after OneWeb and Jio. 

  • Strategic fit: Unlocks a potential $1.9 bn satellite-broadband market by 2030; spectrum allocation and space-agency sign-off still pending.

  • Competitive lens: Sets up a three-way showdown with Bharti-backed OneWeb and Reliance Jio; analysts see rural data backhaul as the first addressable pocket.

4. IndusInd Bank Gains 5% as RBI Eases Concerns

DALL-E

  • Regulatory clarity: RBI acknowledged IndusInd Bank had addressed key governance and compliance lapses flagged in earlier reviews.

  • Market reaction: The statement reassured investors, sending the stock up 5% and making it a top Nifty contributor for the day.

  • Forward view: Analysts believe resolution of regulatory concerns could pave the way for improved sentiment and institutional accumulation.

5. Bajaj Finserv Block Fetches ₹55 bn

DALL-E

  • Numbers: Bajaj Holdings & Jamnalal Sons offloaded ~1.8 % (28.6 mn shares) at ₹1,925 each, scooping ₹55 bn ($643 mn). 

  • Strategic angle: Partial monetisation funds new investments across group verticals while keeping promoter stake above 47 %.

  • Street read: Blocks cleared at just 1 % discount; stock closed +0.6 % as supply overhang faded and long-only funds emerged as buyers.

GYAANI HOT TAKES

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