2 june 2016 | Today’s Latest and Top 10 Business News of India

On Jun 2, 2026

TEN NEWS NETWORK

India News (02/06/2026) : 1. Market Bounce-Back: IT Sector Sparked a Relief Rally After four consecutive days of losses, the Indian benchmark indices ended in the green. The BSE Sensex rose 382.50 points (0.52%) to settle at 74,649.84, while the NSE Nifty 50 gained 100.95 points (0.43%) to close at 23,483.55. The recovery was heavily driven by large-cap IT stocks like TCS, Infosys, and HCL Technologies, benefiting from a positive global technology sentiment and growing optimism around artificial intelligence (AI).

2. Foreign Investment (FPI) Plummets to a Decade Low A sharp pullback by foreign portfolio investors (FPIs) continues to rattle the markets. Cumulative net foreign investments in Indian equities have dropped to nearly a decade low. Persistent global geopolitical tensions, elevated crude oil prices, and capital rotating into alternative tech-heavy global markets have contributed to this waning foreign interest in India’s $4.9 trillion market.

3. Manufacturing Growth Charges Ahead (PMI at 3-Month High) Defying the broader global economic slowdown and ongoing supply chain hiccups, India’s manufacturing sector remains a bright spot. The Manufacturing Purchasing Managers’ Index (PMI) climbed to 55.0, driven by resilient domestic demand and robust factory output.

4. UPI Near the ₹30 Lakh Crore Mark
India’s digital public infrastructure continues its record-breaking momentum. Total transaction values on the Unified Payments Interface (UPI) flirted with a historic ₹29.90 lakh crore milestone.

5. Shift to Fixed Deposits: RBI Highlights Banking Trends A recent Reserve Bank of India (RBI) report highlights a structural shift in how retail investors are managing money. Driven by higher interest rates, Indian consumers are aggressively shifting funds out of low-yield liquid savings accounts and locking them into Fixed Deposits (FDs).

6. Oil Holds Near $95 Amid Geopolitical Vulnerabilities International crude oil prices fluctuated tightly near $95 per barrel. The high prices are keeping Indian public sector oil marketing companies under pressure and fueling concerns regarding domestic inflation and widening fiscal deficits, especially with renewed logistical concerns around the Strait of Hormuz.

7. Global CEO Survey: 99% Expect AI-Driven Job Adjustments A striking new corporate survey reveals that 99% of CEOs expect AI-driven organizational restructuring and job cuts globally within the next two years. In India, tech giants and enterprise firms are actively re-skilling workforces to integrate generative AI platforms into daily operations.

8. India-US Interim Trade Pact Talks Commenced Chief negotiators from New Delhi and Washington have kicked off high-stakes, four-day trade talks. India is looking to secure strategic advantages over its Asian peers by iron-out tariff structures and improving market access for Indian service exports and technology components in the US market.

9. India-Oman Free Trade Agreement Goes Live The comprehensive free trade pact between India and Oman has officially come into effect. This strategic corridor is expected to give Indian exporters zero-tariff access to key Middle Eastern markets while securing a critical alternative energy supply chain bypass for the country.

10. Swiggy Shuffles Leadership Ahead of Intense Quick-Commerce Race
Ahead of intensified competition in the food delivery and instant logistics landscape, Swiggy elevated Akhil Juluru to Director of Business within its primary marketplace division. The leadership shuffle comes as quick-commerce platforms pivot sharply to win market share in urban centers.