OMKARA CAPITAL – DAILY NEWSLETTER (8th June, 2026)

FOCUS INR, NOT SGX NIFTY

DYK: FIIs sold USD 9.7 billion in Korean markets last week & USD 74 billion YTD (vs USD 1.8 billion in India WTD & USD 28 billion YTD). Simple point – FIIs are opportunistic investors – just check magnitude of selling in the Korean markets.

HEADLINES
• Mean reversion in the global markets & leverage hurt the most
• India GDP growth in 4QFY26 was at 7.8%, higher than NSO’s implied estimates of 7.3%
• RBI unveiled a host of measures to incentivize dollar flows
• Trump asks Netanyahu not to strike Iran; says "very close" to peace deal

STOCKS IN NEWS
• Zee Entertainment: Board to Consider Equity Fundraise on June 10

MARKET COMMENTARY: FOCUS INR, NOT SGX NIFTY

ALWAYS REMEMBER: 4 O'S: OVERINVESTMENT, OVERVALUATION, OVER-OWNERSHIP, OVERLEVERAGE

Mean reversion at play in the Asian markets or can I say AI based hot themes which should not come as a surprise to many investors. SpaceX IPO or USA/ Iran war or slightest hint of a rate increase or something else may become an excuse for media to highlight the fall but we all knew that the real reasons are “OVERINVESTMENT, OVERVALUATION, OVER-OWNERSHIP, OVERLEVERAGE”.

Now the big question is “what happens to India?”

Well – first of all – I am not worried about SGX nifty and all post Friday’s crash in USA and Asian markets. There are people arguing about India becoming an anti-AI thesis slowly and gradually. Hopefully, this happens. But my eyes will be on INR. Macquarie says that post their conversation with bankers, RBI and Government measures in total could imply FX flows of 40-50bn USD which could help to stabilise the INR. This is big news for INR and which should not be ignored amid global noises or self-correction. If INR gets stable – equity markets in India will be fine. Selective stock picking will continue.

And globally – there seems to be more and more pressure on Trump now to close the Iran deal. Lets see – been already 100 days of war.

If the Indian rupee & stock markets settle today after initial panic – that will be a great sign for markets.

Warm regards,
Omkara Capital Private Limited, India

www.omkaracapital.in

Disclaimer: This newsletter is for informational purposes only and does not constitute investment advice. Please consult your financial advisor before making any investment decisions.