NSE tops US in options, retail bleeds; MFs overtake FPIs

India’s National Stock Exchange trades more daily options contracts than all U.S. exchanges combined, yet the average retail trader still loses money. The disparity highlights a massive, under‑leveraged market where volume outpaces premium, signaling structural imbalances that could reshape global derivatives competition.

Mutual fund assets hit ₹76.41 lakh crore, just edging out FPIs’ ₹76.22 lakh crore, thanks to more than ₹30,000 crore of SIP inflows this year. The shift signals a structural tilt toward retail investors, reshaping India’s capital markets even as FPIs still dominate equity holdings.

Agratas, Tata’s UK battery unit, has paid over £40 million to Chinese‑owned AESC Apollo Holding in milestone‑linked instalments, securing technical know‑how and a 12% equity stake in its parent. The deal shows Tata’s growing dependence on Chinese EV battery expertise as it scales its Indian EV ambitions.

Apollo Micro Systems is buying a 41.33% stake in Premier Explosives for 15.5 billion rupees, an all‑cash deal that includes a mandatory open offer for up to another 26% of shares. The merger creates an integrated defence and space platform, bolstering India’s push for indigenous weaponry and raising the sector’s consolidation pace.

TCS posted a 5% YoY rise in net profit to ₹13,349 crore and a 14% jump in revenue to ₹72,275 crore for Q1 FY27. AI‑focused contracts, including an $800 million deal with SKF, drove an annualised AI revenue run‑rate of $2.6 billion, signaling accelerating AI demand.

The government has notified the Employees' Provident Funds Scheme, 2026, replacing the 1952 framework under the Code on Social Security, 2020. Contributions are now compulsory, digital compliance is mandatory, and claim settlements must be cleared within 20 days, with interest penalties for delays. These changes tighten employer obligations and improve employee benefit security.

Industry groups CII and FICCI warned the U.S. trade team that imposing tariffs on Indian exports lacks evidence of forced‑labour ties and could cripple bilateral trade. They urged the USTR to use the existing India‑U.S. Trade Policy Forum instead, arguing uniform duties would punish compliant supply chains.

The United States revoked the temporary waiver that let Iran sell oil, cutting the wind-down deadline to July 17 after Iranian tankers were hit in the Strait of Hormuz. The move spiked crude prices and casts doubt on the fragile US‑Iran ceasefire, jeopardising India’s plan to restart Iranian oil imports.

India’s crude imports stay insulated from the end of the Iran sanctions reprieve thanks to a diversified supply mix, but LPG could tighten if the Strait of Hormuz stays closed. Analysts warn that prolonged Gulf tension would pressure freight rates and regional LPG prices, affecting over 330 million Indian households.