For the first time in at least 26 years, no Indian company is among the top 10 constituents of the MSCI Emerging Markets Index, a key global benchmark for investors. HDFC Bank and Reliance Industries have slipped to 11th and 12th positions, while India's overall weight in the index has fallen to a six-year low of 10.87%. Analysts say the shift reflects growing global preference for artificial intelligence and technology stocks. The decline could reduce passive foreign fund inflows, adding pressure on India's markets as rising crude oil prices and global uncertainty weigh on investor sentiment. (PC: ai)

State-owned oil companies have increased aviation turbine fuel (ATF) prices for domestic airlines by around 10 per cent. Jet fuel will now cost about Rs 115 per litre, up from Rs 104.9 earlier.   Oil companies have also introduced a voluntary fixed-rate plan that allows airlines to lock fuel prices for up to three years. The move aims to protect airlines from sharp changes in global oil prices caused by tensions in West Asia.   The government has approved a Rs 10,000-crore price stabilisation scheme to support the plan. Officials say the measure could help reduce sudden increases in airfares for passengers.

Air India is considering a new ticket option that would allow domestic passengers to travel without paying for onboard meals. Under the proposed “No Meals” category, passengers who do not want food during their flight could choose a lower-priced ticket. The airline may first introduce the option on select short domestic routes if it receives approval. Passenger response will help decide whether the scheme is expanded to more routes. The proposal is currently under review and is not being considered for international flights. At present, Air India provides meals to all passengers on both domestic and international services.

Indian equity markets opened sharply lower on June 8 as escalating Iran-Israel tensions, surging crude oil prices and weak global cues triggered broad-based selling. The Sensex fell over 800 points while the Nifty slipped more than 1% in early trade. Investor sentiment weakened after Iran launched missiles at Israel following Israeli strikes in Lebanon, pushing Brent crude above $96 per barrel and raising concerns over inflation, economic growth and India’s import bill. Additional pressure came from a sharp selloff in US technology stocks and expectations of prolonged higher US interest rates. Realty, IT, metal and auto stocks led losses, while Sun Pharma emerged as a rare gainer amid market volatility. (PC: India Today)

IndiGo will temporarily suspend flights to six international destinations including Langkawi, Krabi, Ho Chi Minh City, Hong Kong, Shanghai and Siem Reap from July 1 (July 3 for Siem Reap) until September 30. The airline cited weakening demand, elevated operating costs and continuing international airspace restrictions as reasons for the move, despite the summer travel season. Bookings for these routes will reopen from October 1, although services may resume earlier if market conditions improve. IndiGo said it will continue operating over 1,800 international flights weekly and retain most of its overseas network. The announcement follows its decision to suspend Manchester flights from August 31 amid rising operational challenges. (PC: X)

UK Business and Trade Secretary Peter Kyle will visit New Delhi on June 2 to meet Commerce Minister Piyush Goyal and discuss the early implementation of the UK-India Free Trade Agreement (FTA). The deal aims to strengthen bilateral trade, already valued at £48 billion annually, amid global economic disruptions caused by conflicts and the blockade of the Strait of Hormuz. Once in force, the agreement will remove 99% of UK tariffs and 90% of Indian tariffs, making trade easier and cheaper. Kyle will also meet business leaders from both countries to help firms prepare for the landmark trade deal.

Global oil prices surged nearly 2% after fresh US strikes targeted Iranian military facilities near Bandar Abbas, intensifying fears of wider conflict and potential supply disruptions. According to Reuters, US forces struck Iranian drone-launching infrastructure after intercepting four attack drones allegedly targeting a US commercial vessel near the Strait of Hormuz. Following the operation, explosions were reported east of Bandar Abbas, triggering temporary activation of Iranian air defence systems. Brent crude climbed above $96 per barrel amid renewed geopolitical anxiety over the strategically critical Strait of Hormuz, through which a significant share of global oil passes. Markets remain volatile as uncertainty grows around stalled US-Iran peace negotiations and risks to global energy supply chains worldwide. (PC: Times Now)

Ferrari shares tumbled after the luxury carmaker unveiled the Luce, its first fully electric vehicle, signaling a major shift in the company’s history. The Rome-launched model, whose name means “light,” represents a departure from traditional Ferrari styling and arrives as rivals Porsche and Lamborghini slow EV plans amid weak demand. Ferrari’s Milan-listed shares fell about 8%, while U.S.-listed shares dropped 5.3%. CEO Benedetto Vigna called the launch a “new chapter,” saying the Luce would attract both existing and new customers. Analysts cited investor concerns over brand dilution, high EV development costs, and controversial design choices. Critics including Luca di Montezemolo and Matteo Salvini publicly questioned the model.

Taiwan has overtaken India to become the world’s fifth-largest stock market after a sharp rally in shares of Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest chipmaker. Bloomberg data showed Taiwan’s total market capitalisation rose to $4.95 trillion, slightly ahead of India’s $4.92 trillion. Taiwan’s gains were driven by strong global investor interest in artificial intelligence-linked technology stocks, particularly semiconductor companies. India’s markets, meanwhile, faced foreign investor outflows, rising energy prices and concerns over slowing earnings growth. Analysts said Taiwan benefited from its dominance in global chip manufacturing, while India saw weaker investor sentiment and valuation concerns. (PC: Ai generated)

India raised petrol and diesel prices by Rs 3 per litre nationwide on Friday as surging global crude oil prices linked to the ongoing West Asia conflict intensified pressure on state-run oil companies. In New Delhi, petrol now costs Rs 97.77 per litre and diesel Rs 90.67, while CNG prices increased by Rs 2 per kg to Rs 87. Fuel rates also climbed sharply across Mumbai, Kolkata and Chennai. State-owned fuel retailers had maintained stable prices for nearly 11 weeks despite mounting losses, but crude prices nearing $114 per barrel forced a partial pass-through. Long queues formed at petrol pumps nationwide amid fears of steeper hikes. (PC: India Today)