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Stock market live updates: The SGX Nifty signaled a firm start on Wednesday as it rose over 50 points to 18,745 levels

stock markets

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	<strong>Stock market highlights:</strong> Benchmark indices rose in the last hour of trade as buying emerged in heavyweights such as Reliance Industries, HDFC Bank, L&T, Infosys, Bharti Airtel, TCS, HDFC, and Axis Bank.</div>
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	The S&P BSE Sensex reclaimed the 63,000-mark in the intra-day trade, hitting a high of 63,196, before settling at 63,143, up 350 points or 0.56 per cent. The Nifty50, too, inched towards the 18,750-mark during the day before shutting shop at 18,726, up 127 points or 0.68 per cent.</div>
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	In the broader markets, the BSE MidCap and SmallCap indices advanced over 1 per cent each.</div>
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	The gains were broad-based today with all the sectoral indices closing in the green zone, led by the Nifty Metal, FMCG, and Realty indices. They gained in the range of 1 per cent to 1.6 per cent.</div>

Business Standard | Stock market live News updates today | June 07, 2023: The SGX Nifty signaled a firm start on Wednesday as it rose over 50 points to 18,745 levels

Sensex up 350 pts, ends atop 63K; Nifty tops 18,700 amid broad-based buying

Business Standard

Pegatron has asked independent surveyors to assess the fire damage, a fifth source said


Company aims to scale drone operations in Uttarakhand and NE India

Chhattisgarh Assembly elections: Congress leader Rahul Gandhi was accompanied by Chief Minister Bhupesh Baghel, Deputy Chief Minister T S Singhdeon, and Congress state president Deepak Baij


The Election Commissioner of India is expected to notify the assembly elections on October 6


As per the Supreme Court order, Tamil Nadu is yet to receive 11,000 cusecs water, which he said is likely to be provided by tomorrow


IREF argued that though railways implemented recommendations of 7th Pay Commission on January 1, 2016, yet PLB still been calculated and paid based on minimum salary fixed by 6th Pay Commission


The PRIP scheme has two main components - the first one would focus on infrastructure building


Russia-Ukraine War

The year 2022 is coming to an end and a lot has happened that shaped the world in the year. Let's have a look at some of these significant events

In February 2022, Russia attacked Ukraine&amp;#39;s capital, Kyiv, from the north in an attempt to overthrow President Volodymyr Zelensky&amp;#39;s government. In the months following, artillery bombardment and street fighting continued, with Russia seizing multiple cities.

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After a slew of scandals in his term spanning three years, UK Prime Minister Boris Johnson resigned from office in July. Johnson was succeeded by Liz Truss, who took over the office in September.
						
						But after 45 days in the office, she resigned, becoming the shortest-serving PM in UK history. Her budgetary plans, at the centre of which were tax cut plans, had crashed the markets, making her lose the confidence of almost all her own MPs.
						
						In the days that followed, Rishi Sunak took over as Britain&amp;#39;s 57th prime minister and vowed to fix the mistakes made by his predecessor, Liz Truss.

Russia Invades Ukraine

In April, protests began in the nation following a sharp rise in food and fuel costs. Thousands demanded the resignation of now-ousted President Gotabaya Rajapaksa. The people faced long power cuts daily and shortages of basics, including fuel and food. Sri Lanka&amp;#39;s doctors said they were nearly out of life-saving medicines.
						
						Rajapaksa&amp;#39;s government was being blamed for the chronic mismanagement of the country&amp;#39;s finances. In July, protestors stormed Rajapaksa&amp;#39;s home, pushing him to flee the nation before resigning from office.

UK&amp;#39;s political crisis

In September, 22-year-old Iranian girl Mahsa Amini died after being detained for allegedly violating Iran&amp;#39;s laws requiring women to wear a headscarf. Authorities said she died of illness, but her family claimed she fell into a coma after being mistreated by the police. Sources said the police beat Amini with a baton and banged her head against a vehicle. At her funeral on September 17 in Saqez, women protested by ripping off their hijabs. Protests sparked by her demise have since roped in ethnic minorities and even school children. Thousands of women since then have been showing solidarity by cutting their hair and burning their hijabs in public.
						
						Now, the unrest has spread beyond a women&amp;#39;s right to a movement that is calling for an end to theocratic rule. The protests are now the most broadly supported movement in Iran in over four decades.

Sri Lanka economic crisis

In October, Chinese President Xi Jinping was handed a historic third term in office. He became the first leader of the ruling Communist Party after party founder Mao Zedong to get a third term in power.
						
						This came as China&amp;#39;s economy was running out of steam after decades of high growth. Many expect Xi&amp;#39;s third term may see China revert to more old-school economic management, focusing on shoring up the heavy industry and continuing a crackdown on big tech.

Uprising mounts again in Iran

In a historic first, rich countries agreed to pay for losses and damages caused by climate change. For 30 years, developing nations have been calling for developed countries to compensate for the costs of climate disasters caused by climate change. And rich nations that caused the pollution resisted the demand. But this changed in 2022.

Chinese President Xi Jinping starts record third term in power

In 2022, inflation was rising worldwide, with food and energy prices hitting record highs. The hike was mainly driven by pent-up consumer demand after the pandemic and Russia&amp;#39;s invasion of Ukraine. As the pandemic waned, people wanted to return to normalcy and spend more. This led to companies demanding higher prices. Companies also hired more to serve the pent-up demand. They had to increase wages to attract workers and raise prices to compensate for that.

A landmark deal UN Climate Change Conference (COP27)

In September, Queen Elizabeth II, Britain&amp;#39;s longest-serving monarch, died at 96 after reigning for 70 years. Many said her death would mark a turning point for commonwealth nations as many may disassociate themselves.

The global economy at crossroads

In October, Brazil&amp;#39;s former president, Luiz In&amp;aacute;cio Lula da Silva beat Jair Bolsonaro in the country&amp;#39;s closest presidential race in history. Silva&amp;#39;s win marked Latin America&amp;#39;s shift to the left and pointed to an extraordinary comeback for a man in jail for corruption three years ago.

Queen Elizabeth II dies

In October, billionaire Elon Musk closed his $44 billion deal to buy Twitter after months of dilly-dallying, drama and a lawsuit. The Tesla owner&amp;#39;s Twitter takeover is also one of the biggest tech acquisitions of all time. May fear that Musk&amp;#39;s takeover may turn the social media giant into a hotbed of hate speech.
					
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Brazil elections

Google Messages

In January, Google rolled out end-to-end encryption in group chats for messages app users enrolled in the beta programme

Blend launches Blend Studio: AI tool for ecommerce photography

New Delhi [India], March 16 (ANI/PNN): Blend, an AI-powered design and photography application for DTC brands and ecommerce sellers, recently launched Blend Studio - the Chat GPT for product photos.

Celebrity and Travel Photographer Rahul Lokare from Flamingo Productions creates waves of change in the world of photography.

Xiaomi 13 Pro

Priced at Rs 79,999 for the 12GB RAM and 256GB on-board storage, the Xiaomi 13 Pro offers a novel imaging experience on top of a premium package

COMMENT:: Hopes of RBI pause, FII buying lift market

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	&quot;Investors are becoming more optimistic due to the anticipation of a positive revision in the RBI&#39;s inflation forecast during the ongoing MPC meeting. It is expected that the RBI will maintain its pause on rate hikes, considering the significant improvement in inflation, which has now come within the RBI&#39;s comfort zone. Furthermore, the participation of FIIs as net buyers, after a brief halt, contributed to today&#39;s market rally, particularly driven by mid- and small-cap stocks.&quot;</div>
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	<em>- Vinod Nair, Head of Research at Geojit Financial Services</em></div>

VIEW:: Support for Nifty now seen at 18,650

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	&quot;The Nifty has recently experienced a positive breakout from a sideways pattern, which is seen as a favorable development. This breakout comes just before the Reserve Bank of India (RBI) announces its rate decision tomorrow. Market participants are anticipating a dovish stance from the RBI governor, contributing to a positive sentiment in the market. Technically, support for the Nifty is positioned at 18,650, while resistance is expected around the range of 18,880-18,900.&quot;</div>
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	<em>- Rupak De, Senior Technical Analyst at LKP Securities</em></div>
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VIEW:: Bank Nifty may see strong upside on breakout above 44,500

&quot;The Bank Nifty remained sideways following a positive start. The undertone of the index is still bullish, maintaining the support of 44,000 in a spot where a decent amount of Put writing is seen and resistance is still intact at 44,500. After the central bank policy the Bank Nifty is expected to give a move on either side. Upon a decisive move 44,500 we might see strong directional upside moves.&quot;<br />
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<em>- Rupak De, Senior Technical Analyst at LKP Securities</em><br />
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BSE Smallcap index hits record high; Aurionpro zooms 141% since May

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	Aurionpro, BDL, Centum Electronics, Cigniti Techno, Data Patterns, Dreamfolks, Fusion Micro, IOX Exchange, KDDL, Mahindra CIE, Safari Ind and Syngene hit their respective all-time high on Wednesday. <a href="https://www-business-standard-com-nalsar.knimbus.com/markets/news/bse-smallcap-index-hits-record-high-  aurionpro-zooms-141-since-may-123060700206_1.html?1686113770" target="_blank"><strong>READ MORE</strong></a><br />
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		<img align="" alt="Market rally, bull, markets, stocks, economy, growth" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2021-01/11/full/1610386402-0535.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Market rally, bull, markets, stocks, economy, growth" width="620" />
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			Illustration: Binay Sinha</div>
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Axis Bank joins Rs 3-trillion market cap club; stock surges 7% in one week

With a market cap of Rs 3.02 trillion, Axis Bank stood at 17th position in the overall market cap ranking of the BSE listed companies, data shows. <a href="https://www-business-standard-com-nalsar.knimbus.com/markets/news/axis-bank-joins-rs-3-trillion-market-cap-  club-stock-surges-7-in-one-week-123060700244_1.html?1686115586" target="_blank"><strong>READ MORE</strong></a><br />
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Torrent Power soars 14% on inking MoU with Maha government for three projects

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	The company has signed a MoU with the Maharashtra government for setting up three Pumped Storage Hydro Projects of 5,700 MW capacity in Maharashtra, would entail an investment of about Rs 27,000 crore. <a href="https://www-business-standard-com-nalsar.knimbus.com/markets/news/torrent-power-soars-9-on-inking-mou-with-  maharashtra-govt-for-3-projects-123060700161_1.html?1686110830" target="_blank"><strong>READ MORE</strong></a><br />
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Suzlon Energy soars 18%; hits over 5-year high on heavy volumes

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	A combined 1,121 million shares, which represented 11.1 per cent total equity of Suzlon Energy changed hands on the NSE and BSE. <a href="https://www-business-standard-com-nalsar.knimbus.com/markets/news/suzlon-energy-hits-over-5-year-high-  soars-18-on-heavy-volumes-123060700399_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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		<img align="left" alt="chart" class="imgCont" height="363" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-06/07/full/1686133944-5275.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="602" /></div>
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Tata Motors market cap hits record high; tops Rs 2 trn mark

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	Thus far in the calendar year 2023, shares of Tata Motors and Tata Motors DVR have rallied 48 per cent, as compared to 2.8 per cent rise in the S&amp;P BSE Sensex. <a href="https://www-business-standard-com-nalsar.knimbus.com/markets/news/tata-motors-market-cap-scales-record-  high-tops-rs-2-trillion-mark-123060700311_1.html?1686119936" target="_blank"><strong>READ MORE</strong></a></div>
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Market Breadth was extremely positive; Almost 2,300 stocks advanced v/s 1,269 declining shares on the BSE

Nifty Oil & Gas index up over 1%; HPCL, BPCL lead

Nifty FMCG index advances over 1%; United Breweries, Britannia, Tata Consumer gain around 4%

Nifty Realty index also gains 1.5%; Phoenix soars nearly 6%

Nifty Metal index jumps 1.5%; Welcorp, Jindal Stainless, JSW Steel, Tata Steel surge over 2%

BSE Smallcap Heatmap:: RattanIndia Power, Suzlon zoom up to 20%; Onward Tech sheds 4%

BSE Midcap Heatmap:: Voda Idea, Max Health soar 8%; Rajesh Exports, Varun Beverages slip over 2%

Midcaps, Smallcaps outrun benchmark Nifty 50

Nifty 50 Gainers:: Biratnnia, Tata Consumer rally around 4%; BPCL, Nestle gain 3%

Sensex 30 Heatmap:: 25 Gainers v/s 5 Losers

CLOSING BELL:: NSE Nifty 50 rallies 127 points to 18,726

CLOSING BELL:: S&P BSE Sensex ends at calendar year high of 63,143, up 350 points

Market Check:: Sensex at day's high, up 275 points

Tata Motors m-cap tops Rs 2-trillion mark

A combined market cap of Tata Motors (Rs 1.96 trillion) and Tata Motors DVR (Rs 15,171 crore) stood at Rs 2.06 trillion, the BSE data shows. Earlier, on November 17, 2021, the combined market cap of these companies stood at Rs 1.90 trillion, according to Capitaline Plus database. <a href="https://www-business-standard-com-nalsar.knimbus.com/markets/news/tata-motors-market-cap-scales-record-high-tops-rs-2-trillion-mark-123060700311_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-02/03/full/1675439205-1134.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="" width="620" /></div>
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WATCH :: Is the National Electricity Plan's goal too ambitious?

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	At 10:27 AM; with a market cap of Rs 3.02 trillion, Axis Bank stood at the 17th position in overall ranking of the BSE listed companies, data shows. <a href="https://www-business-standard-com-nalsar.knimbus.com/markets/news/axis-bank-joins-rs-3-trillion-market-cap-club-stock-surges-7-in-one-week-123060700244_1.html" target="_blank"><strong>READ</strong></a></div>
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	<img alt="Axis Bank" src="https://bsmedia.business-standard.com/_media/bs/img/article/2021-01/04/full/1609725479-9596.jpg?im=FeatureCrop,width=826,height=465" style="height: 338px; width: 600px;" /></div>

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	Aurionpro, BDL, Centum Electronics, Cigniti Techno, Data Patterns, Dreamfolks, Fusion Micro, IOX Exchange, KDDL, Mahindra CIE, Safari Ind and Syngene hit their respective all-time high today. <a href="https://www-business-standard-com-nalsar.knimbus.com/markets/news/bse-smallcap-index-hits-record-high-aurionpro-zooms-141-since-may-123060700206_1.html" target="_blank"><strong>READ</strong><br />
	<img alt="Sensex, Nifty, stock brokers" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-04/05/full/1680686226-6079.jpg?im=FeatureCrop,width=826,height=465" style="height: 338px; width: 600px;" /></a></div>

Torrent Power soars 9% on inking MoU with Maharashtra govt for 3 projects

<div>
	The company has signed a MoU with the Maharashtra government for setting up three Pumped Storage Hydro Projects of 5,700 MW capacity in Maharashtra, would entail an investment of about Rs 27,000 crore. <a href="https://www-business-standard-com-nalsar.knimbus.com/markets/news/torrent-power-soars-9-on-inking-mou-with-maharashtra-govt-for-3-projects-123060700161_1.html" target="_blank"><strong>READ</strong><br />
	<img alt="Torrent Power: Long-term triggers in place" src="https://bsmedia.business-standard.com/_media/bs/img/article/2016-01/07/full/1452173247-8588.jpg?im=FeatureCrop,width=826,height=465" style="height: 338px; width: 600px;" /></a></div>

ONGC, Grasim, TaMo additional losers on Nifty50

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Britannia, HDFC Life, SBI Life top Nifty50 winners

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HEATMAP: Nestle leads Sensex gains; HCL Tech drags

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OPENING BELL: Sensex opens 200 pts higher

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IKIO Lighting IPO subscribed 1.55 times of Rs 606.5 cr on Day 1 of offer

The Initial Public Offer (IPO) of LED lighting solution provider IKIO Lighting received 1.55 times subscription on the first day of the share sale on Tuesday. <a href="https://www-business-standard-com-nalsar.knimbus.com/markets/ipo/ikio-lighting-ipo-subscribed-1-55-times-of-rs-606-5-cr-on-day-1-of-offer-123060600834_1.html?1686107733" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="initial public offerings" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2021-09/29/full/1632858985-0659.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="initial public offerings" width="620" /></div>
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Dividend by top 10 payers more than doubles in FY23; TCS tops the table

The 10 biggest payers together shelled out Rs 2.06 trillion for FY23, more than double the Rs 98,371 crore for FY22. <a href="https://www-business-standard-com-nalsar.knimbus.com/companies/news/tata-group-s-biggest-cash-cow-tcs-tops-the-dividend-league-table-in-fy23-123060600849_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Dividend" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2021-06/24/full/1624539080-183.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Dividend" width="620" /></div>
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Stocks to Watch today, June 7: Adani Green, Mazagon Dock, Torrent Power

Stocks to Watch today, June 7, 2023: Tata Power, Uniparts India, Seshasayee Paper, Marksans Pharma will turn ex-dividend on Wednesday. <a href="https://www-business-standard-com-nalsar.knimbus.com/markets/news/top-stocks-to-watch-today-adani-group-stocks-bank-of-maharashtra-bank-of-baroda-icici-lombard-jsw-ispat-mazagon-dock-torrent-power-on-tuesday-june-7-123060700112_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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ALERT: China's May exports down 7.5% YoY Vs Est 1.8% fall

&gt;&gt; China&#39;s May imports down 4.5% YoY Vs Est 8% fall<br />

WATCH VIDEO | How does Jonathan Garner view the global equity landscape?

Business Standard&rsquo;s Puneet Wadhwa caught up with JONATHAN GARNER, Morgan Stanley&rsquo;s Asia Equity Strategist to understand why he prefers Japan, Korea and Taiwan and India&rsquo;s position on his preference.<br />
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<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="400" scrolling="no" src="https://www.youtube.com/embed/MhHwq6TnZp0" title="How does Jonathan Garner view the global equity landscape?" width="600"></iframe>

Hold longs in Nifty with stop loss of 18500; Hikal, Nesco bullish on charts

The breadth of the market is bullish as more than 67 per cent of the stocks are trading above their 200 DMA, says Vinay Rajani of HDFC Securities. <a href="https://www-business-standard-com-nalsar.knimbus.com/markets/news/hold-longs-in-nifty-with-stop-loss-of-18500-hikal-nesco-bullish-on-charts-123060700089_1.html?1686105895" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="market, stocks, stock market trading, stock market" class="imgCont" src="https://bsmedia.business-standard.com/_media/bs/img/misc/2023-03/21/full/market-stocks-stock-market-trading-stock-market-1679390632-5682620.jpg" style="border: 1px solid rgb(221, 221, 221); margin-right: 10px; padding: 1px; float: left; z-index: 0; width: 600px; height: 400px;" title="market, stocks, stock market trading, stock market" /></div>
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RBI expected to pause again with markets watching for shift in stance

All 40 economists in a Bloomberg survey forecast the Indian central bank will keep the repurchase rate unchanged at 6.50% on Thursday, signaling that inflation could cool further in the months ahead. <a href="https://www-business-standard-com-nalsar.knimbus.com/finance/news/rbi-expected-to-pause-again-with-markets-watching-for-shift-in-stance-123060700088_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="reserve bank of india, rbi" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2020-08/26/full/1598462310-1429.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="reserve bank of india, rbi" width="620" /></div>
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Adani stocks still reeling from losses inflicted by Hindenburg report

While two of Adani&#39;s 10 stocks have bounced back strongly, a full recovery to pre-Hindenburg levels looks a ways away. <a href="https://www-business-standard-com-nalsar.knimbus.com/companies/news/adani-stocks-still-reeling-from-losses-inflicted-by-hindenburg-report-123060700110_1.html?1686105895" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Adani, Adani Group" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-02/15/full/1676425501-5556.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Adani, Adani Group" width="620" /></div>
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Book profits in Nifty FMCG and await clear direction in Nifty Metal index

Nifty FMCG is in the overbought zone, indicating that it is expected to trade sideways or experience a timewise or a pricewise correction, says Ravi Nathani. <a href="https://www-business-standard-com-nalsar.knimbus.com/markets/news/book-profits-in-nifty-fmcg-and-await-clear-direction-in-nifty-metal-index-123060700096_1.html?1686105895" target="_blank"><strong>READ MORE</strong></a><br />
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DIIs offloaded equities worth Rs 489 crore on Tuesday, June 2

FIIs bought equities worth Rs 385 crore on Tuesday, June 6

All eyes on Chinese trade data for May; experts peg exports to decline MoM

&gt;&gt; According to a Reuters poll, China&rsquo;s exports are expected to plunge from growth of 8.5 per cent in April to a decline of 0.4 per cent in May.<br />
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Hang Seng index rises over 1% this morning

World Bank offers dim outlook for global economy on higher interest rates

That&#39;s the latest outlook of the World Bank, a 189-country anti-poverty agency, which estimates that the international economy will expand just 2.1% in 2023 after growing 3.1% in 2022. <a href="https://www-business-standard-com-nalsar.knimbus.com/world-news/world-bank-offers-dim-outlook-for-global-economy-on-higher-interest-rates-123060600923_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Coinbase Inc nosedives 12% after US SEC sues exchange for violating securities law

Saudi Arabia is slashing oil supply, higher gas prices for US drivers

Calling the reduction a lollipop, Saudi Energy Minister Abdulaziz bin Salman said at a news conference that we wanted to ice the cake. <a href="https://www-business-standard-com-nalsar.knimbus.com/world-news/saudi-arabia-is-slashing-oil-supply-higher-gas-prices-for-us-drivers-123060601035_1.html?1686103540" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="gas" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-01/22/full/1674404791-0224.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="gas" width="620" /></div>
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Price of Brent Crude, WTI Crude flat; Brent at $76/bbl

<em>source: oilprice.com</em><br />
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Australian shares marginally up as Q1 GDP numbers misses estimates

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	&gt;&gt;&nbsp;Australia&rsquo; first quarter gross domestic product expanded by 2.3 per cent year-on-year, just slightly below analyst expectations<br />
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&nbsp;of 2.4 per cent.

Japanese shares slip as rally takes a breather

Regional banking stocks drive the S&P 500 to highest level so far this year

Sensex up 350 pts, ends atop 63K; Nifty tops 18,700 amid broad-based buying

CLOSING BELL, JUNE 7, 2023: The frontline indices ended at 6-month highs

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