FOMO To FMA - From FII Exodus to DII Dominance: Oil Rallies, AI Bets Grow, and India Inc. Expands

Nikunj Parikh - Mumbai Bureau Jun 03, 2026 2,600 Views

Global markets traded mixed, with Asian indices outperforming while U.S. and European futures remained subdued. Despite heavy FII selling of ₹8,363 crore, strong DII buying of ₹9,589 crore supported sentiment. Oil prices advanced, metals weakened, and corporate India stayed active with major orders, expansions, AI partnerships, regulatory approvals, and strategic investments driving market action.

1. Global Market Futures & Indices (As of 06:00 AM IST)

Market	Index	Change
US Futures	Nasdaq	-0.11%
	Dow Jones	+0.03%
	S&P 500	+0.01%
European Futures	FTSE 100	-0.09%
	CAC 40	-0.14%
	DAX	-0.17%
Asian (Live)	NIKKEI 225	+1.42%
	ASX 200	+0.36%
Gift Nifty	Prev. Close	23,490.00 (-0.38%)

2. Institutional Trading Activity (June 2, 2026)

FIIs / FPIs: Net Sell of ₹8,362.92 crore
DIIs: Net Buy of ₹9,589.32 crore

3. Comprehensive Corporate Updates

Positive Developments

Adani Ports: May cargo volumes reached 48.3 MMT with YoY growth.
Advait Energy Transitions: Subsidiary signed a 150 MW/300 MWh BESS project agreement with GUVNL.
Alfa Transformers: Secured an order worth ₹30 million.
Alkem Laboratories: Launched Semaglutide syringes starting at ₹350.
B.R. Goyal Infrastructure: Received a ₹1.18 billion work order.
B2B Software Technologies: Received an import purchase order worth USD 162,754.
Bliss GVS Pharma: WHO inspection closure report confirms GMP compliance at Palghar facility.
Concord Biotech: USFDA approval for Mycophenolate Mofetil Oral Suspension (200 mg/mL).
Concord Enviro Systems: Subsidiary secured a ₹160 million order.
Elantas Beck India: Approved ₹560 million for capacity expansion at Ankleshwar.
GSM Foils: Reported 96.41% YoY net sales increase for May 2026.
Indian Overseas Bank: Received licence to establish an IFSC Banking Unit at GIFT IFSC.
Infosys: Expanded DNB Bank partnership; partnered with Handelsblatt for AI-powered editorial engine.
Innomet Advanced Materials: Secured a purchase order worth USD 222,290.
Intellect Design Arena: Launched AI-powered digital banking platform for global markets.
John Cockerill India: Secured orders totaling ₹12.5–13 billion.
LTM: Announced targets to double revenue and improve EBIT margins by 200 bps by FY31.
Magellanic Cloud: Secured railway tech contracts (₹43.1M and ₹97.2M).
Manas Polymers: Approved incorporation of a wholly-owned Dubai subsidiary.
NDTV: Received relief from SEBI (no monetary penalty).
Nutricircle: Incorporated Nutricircle Europe ApS in Denmark.
SBC Exports: Secured a ₹180 million order.
Servotech Renewable: Signed MoU for ₹4 billion investment in Haryana.
Sharika Enterprises: Secured ADMS subcontract under UPCL Ganga Corridor Project.
Shelter Pharma: Renewed Ayurvedic manufacturing licence.
Takyon Networks: Received a ₹10 million BSNL work order.
Tech Mahindra: Partnered with StackGen for Agentic AI solutions.
Zenith Drugs: Secured an export order worth ₹7.5 million from Mauritius.

Negative Developments

AWE-IS Space Solutions: Received a ₹71 million tax demand.
DIC India: MD & CEO Manish Bhatia resigned.
IndiGo: Returning one Boeing 787-9; suspending Manchester flights from Aug 31, 2026.
ICICI Prudential Life Insurance: Received a ₹51.2 million tax demand.
Kalpataru: Withdrew demerger proposal for Project Magnus.
Kay Power and Paper: MD Niraj Chandra resigned.
Oswal Greentech: CFO Moxit Modi resigned.
Patanjali Foods: Received multiple show-cause notices for ₹725.6 million in tax/penalties.
Shubhlaxmi Jewel Art: CFO Bikash Tarafdar resigned.
Supriya Lifescience: Lote facility received VAI (Voluntary Action Indicated) classification from USFDA.
Vedanta / Hindustan Zinc: ED officials visited offices for an ongoing investigation.

Neutral/Other Developments

Ajax Engineering: New CFO appointed (Ketan Pendse).
Canara Bank: Board approved ₹85 billion fundraising via bonds.
K V Toys India: Investment proposal meeting scheduled for June 5.
Mankind Pharma: Acquired full stake in Upakarma (₹7.5 million).
Mufin Green Finance: Approved NCD issuance up to ₹1.19 billion.
NHPC OFS: Govt exercised oversubscription option for an additional 3% stake.
Power Finance Corporation: Dissolved subsidiary PFC Projects.
Regency Fincorp: Initiated fundraising via NCDs (₹350M + ₹250M greenshoe).
Shraddha Prime Projects: New MD appointed (Sudhir Balu Mehta).
String Metaverse: New Chairman appointed (Sethi-Jrathnam Ravi).
UPL Group: CCI approved restructuring.
Vibrant Global Capital: Approved ₹60 million stake acquisition in Private Reserve Capital.

4. Market Data & Commodities

Crude Oil: Brent +1.17% (96.89); WTI +0.86% (94.57).
Metals: Gold -0.29%; Silver -0.54%; Copper -0.21%.
Bond Market: 10-year G-Sec yield at 7.0129%.
Currency: Rupee closed at 95.2650 against USD.
Economy: New Producer Price Index (PPI) framework launching June 15. India's edible oil imports up 2.6% MoM.

5. Corporate Actions & IPOs (June 3, 2026)

Ex-Dividend: Ashok Leyland, Foseco India, Monarch Surveyors, Navneet Education, Remsons Industries.
Ex-Bonus: Anand Rathi Wealth (1:1).
Ex-Amalgamation: Sir Shadi Lal Enterprises.
F&O Ban: AMBER, KAYNES.
IPOs:
- Closing June 3: Merritronix Ltd, SMR Jewels Ltd.
- Closing June 5: CMR Green Technologies Ltd.
- Upcoming: Hexagon Nutrition Ltd (June 5–9).

6. Bulk & Block Deals

Alkem Laboratories: Promoter group sold 1.5% stake for ~₹930 crore to institutional investors.
Neogen Chemicals: Axis Mutual Fund sold 2.66 lakh shares for ₹47.56 crore.

Source: WOWNEWS24X7, Moneycontrol, Investing.com

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FOMO To FMA - From FII Exodus to DII Dominance: Oil Rallies, AI Bets Grow, and India Inc. Expands

1. Global Market Futures & Indices (As of 06:00 AM IST)

2. Institutional Trading Activity (June 2, 2026)