The Prime Daily: 09 June 2026

U.S. equities staged a partial recovery on Monday, with the Nasdaq rising 0.9% and the S&P 500 gaining 0.3%, as semiconductor and AI-linked shares bounced sharply from Friday’s selloff. Intel surged 11.2%, Micron jumped 9.9%, and Applied Materials climbed 8.6% among the session’s top performers.

The rebound was aided by easing Middle East tensions after Iran halted military strikes against Israel, though it warned of resumption if Israeli operations in Lebanon continue.

The two sides had exchanged strikes for the first time since their April ceasefire, triggering broad risk-off selling.

On the macro front, sticky inflation and a stronger-than-expected May jobs report have shifted bond market pricing toward a Fed rate hike by end-2026, with implied odds now above 70%. Ten-year and 30-year Treasury yields have moved into higher trading ranges as a result.

Market participants are also watching the SpaceX IPO later this week, expected to be a major liquidity event and a gauge of risk appetite.

In Asia, markets are trading higher today, with Wall Street’s chip-stock rebound offering partial support. SK Hynix gained 6.4%, Samsung Electronics rose 3.4%, and Seoul Semiconductor surged over 12%.

The Indian rupee gave up most of its previous session gains, depreciating by 77 paise to settle at 95.71 yesterday. The weakness was largely driven by escalating tensions in the Middle East, which pushed crude oil prices higher and boosted safe-haven demand for the U.S. dollar. Additionally, stronger-than-expected U.S. jobs data has reignited expectations of further rate hikes by the FOMC, dampening global risk appetite and lending further support to the greenback.

Nifty slipped out of its four-session consolidation, declining 243 points to close at 23,123 yesterday. Immediate resistance is placed at 23,300, while a break below 23,070 could intensify downside pressure toward the next support zone of 22,700–22,800.