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Stock market live updates: The SGX Nifty, on Monday, eyed a steady start amidst positive global cues as it rose over 50 points to 18,717 levels

Mumbai Police's Economic Offences Wing fresh notices to 300 NSEL brokers

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	<strong>Stock market highlights</strong>: Benchmark indices, which held steady gains throughout the session, witnessed some profit booking in the fag end of the session. The S&P BSE Sensex climbed to a high of 62,943 in the intra-day trade, but settled at 62,787, up 240 points or 0.38 per cent. The Nifty50, meanwhile, hit a high of 18,640 during the day before closing at 18,594, up 60 points or 0.32 per cent.</div>
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	Domestic equities remained upbeat on Monday as investors cheered the signing of the US debt ceiling bill into a law.</div>
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	In the broader market, the BSE MidCap and SmallCap indices performed in-line with frontline indices, rising up to 0.5 per cent.&nbsp;</div>
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	Sectorally, the Nifty Auto index advanced over 1 per cent, while the Nifty Media, Private Bank, and Consumer indices gained up to 0.8 per cent. On the downside, the Nifty FMCG and PSU bank indices slipped 0.4 per cent each.&nbsp;</div>

Business Standard | Stock market live updates | June 05, 2023: The SGX Nifty, on Monday, eyed a steady start amidst positive global cues as it rose over 50 points to 18,717 levels

STOCK MARKET LIVE  Today| June 05, 2023 | Business Standard: Sensex, Nifty, US markets, OPEC, Brent crude, FII, Rupee

Business Standard

Ferguson Maidment & Co audited the annual accounts that Adani Energy Holdings and its subsidiaries filed with British government agency Companies House last month, FT reported


OIDAR service provider companies such as Google, X, and Facebook may have to pay integrated GST up to 18 per cent on services provided to the government and individuals in India


The men's 10m air pistol team continued India's success story at the Asian Games here, winning gold with two marksmen also making it to the individual finals on Thursday.


Asian Games 2023 LIVE updates: In the men's 10m air pistol team event, India won Gold, sixth overall. Roshibina clinched Silver in Wushu. PV Sindhu India's charge vs Mongolia in women's team event


Fresh violence erupted in Manipur this week over the brutal killings of two students who went missing on July 6


The deputy commissioner of police (northeast) said the five persons who were admitted to a hospital after inhaling fumes were out of danger


As Ukraine lists Indian diamond major on its list of "international war sponsors," diamantaires back home fear loss of livelihood, and rising unemployment


Issues final valuation rules for funding in unlisted startups for foreign and domestic investors


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:: Domestic eco indicators supporting Indian market

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	&quot;The equity market is maintaining stability due to a continuous stream of favourable domestic economic indicators. Stronger-than-expected domestic PMI figures, sequential growth in auto sales, and robust expansion in bank credit are instilling investor confidence in India&#39;s growth prospects. On the other hand, the US jobs data presented a mixed picture, with non-farm payroll showing acceleration while the unemployment rate surged from 3.4 per cent to 3.7 per cent in May.&quot;</div>
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	<em>- Vinod Nair, Head of Research at Geojit Financial Services</em><br />
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VIEW:: Nifty remains in 'Buy on Dip' mode

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	&quot;The Nifty index is currently experiencing a sideways trend, indicating a lack of clear direction in its price movement. This sideways movement is accompanied by low trading volumes, suggesting a relatively lower level of market participation and activity. The index has a support level at 18,550, indicating a price level where buyers have shown interest and may provide a foundation for potential price rebounds. On the other hand, there is a resistance level at 18,660, acting as a barrier for upward movements and where sellers may become more active. Despite the sideways trend, the overall undertone of the market remains bullish. This suggests that the prevailing sentiment favors buying opportunities on dips or temporary price declines. Investors are advised to adopt a &quot;buy on dip&quot; approach, indicating a strategy of purchasing the Nifty index when it experiences short-term pullbacks.</div>
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		<em>- Kunal Shah, Senior Technical Analyst at LKP Securities</em></div>
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VIEW:: Bank Nifty may move in a narrow band of 43,700 - 44,300

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	&quot;The BANK NIFTY index lackluster movement ahead of the RBI (Reserve Bank of India) policy announcement, suggests that market participants were cautious and waiting for guidance from the central bank. The HDFC twins, likely referring to HDFC Bank and HDFC Limited, had a negative impact on the Bank Nifty index during the session. The performance of these stocks influenced the overall movement of the index. Based on the current scenario, the Bank Nifty index is expected to continue to trade within the range of 43,700 - 44,300. This suggests that the index is likely to move sideways, lacking a clear trend. However, it&#39;s important to note that a break on either side of this range can lead to a directional move, potentially indicating a shift in the market sentiment and momentum.&quot;</div>
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	<em>- Kunal Shah, Senior Technical Analyst at LKP Securities</em></div>

Over half of NSE 500 stocks deliver 10x return in 20 years: Goldman Sachs

Some of the prominent Indian stocks that delivered over 10x total returns over a 5-year rolling period since 2000 include Westlife Foodworld, Bharti Airtel, Adani Total Gas, said the report. <a href="https://www-business-standard-com-nalsar.knimbus.com/markets/news/over-half-of-nse-500-stocks-deliver-10x-return-in-20-years-goldman-sachs-123060500276_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Tata Motors hits over 6-year high; up 40% thus far in 2023 on solid outlook

Shares of Tata Motors hit an over six-year high on Monday after the Tata group signed an outline deal with the Gujarat government last Friday (June 2) to build a lithium-ion cell factory with an investment of about Rs 13,000 crore. The move comes as India is looking to create its own electric vehicle (EV) supply chain. <a href="https://www-business-standard-com-nalsar.knimbus.com/markets/news/tata-motors-hits-over-6-year-high-up-40-thus-far-in-2023-on-solid-outlook-123060500125_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Indo Count hits 16-month high; surges 36% in four days on strong Q4 results

The stock price witnessed a healthy recovery in anticipation of gradual restocking by global retailers (home textile was the worst impacted) and India&#39;s market share gain in US bedsheet. <a href="https://www-business-standard-com-nalsar.knimbus.com/markets/news/indo-count-hits-16-month-high-surges-36-in-4-days-on-post-q4-results-123060500501_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Defence shares in focus; HAL, Bharat Dynamics, BEL hit new highs

The defence sector looks well placed in terms of increasing domestic procurements by the government for our armed forces. <a href="https://www-business-standard-com-nalsar.knimbus.com/markets/news/defence-shares-in-focus-hal-bharat-dynamics-bel-hit-new-highs-123060500250_1.html?1685946398" target="_blank"><strong>READ MORE</strong></a><br />
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This Ashish Kacholia-owned stock tops listing day high; soars 19% in 3 days

SJS Enterprises hit a record high of Rs 572 on rallying 6 per cent on the BSE in intra-day trade, on strong business outlook.<br />
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Indian markets have limited upside in the near-term; buy the dips: Nomura

Indian equity markets have a limited upside potential in the near-term as they negotiate the ensuing cyclical slowdown, wrote analysts at Nomura in a recent coauthored report led by Saion Mukherjee, their managing director and head of equity research for India. <a href="https://www-business-standard-com-nalsar.knimbus.com/markets/news/indian-markets-have-limited-upside-in-the-near-term-buy-the-dips-nomura-123060500164_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Factoring in the positives and negatives, there is still a downside risk to aggregate earnings over the next few quarters: Saion Mukherjee" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-04/17/full/1650217066-7914.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="Saion Mukherjee, managing director and head of India equity research at Nomura" width="620" /></div>

Talbros Auto hits new high on healthy order book position

Over the last year, Talbros has received new multi-year orders over Rs 1,000 crore from both, domestic and overseas customers across its business divisions, product segments and JVs. <a href="https://www-business-standard-com-nalsar.knimbus.com/markets/news/talbros-auto-hits-new-high-rallies-14-on-healthy-order-book-position-123060500207_1.html?1685943750" target="_blank"><strong>READ MORE</strong></a><br />
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SME Update:: Hemant Surgical zooms almost 100% on debut

SME company Hemant Surgical Industries (HSIL) made a robust stock market debut, with its share price nearly doubling (zoomed 99.5 per cent) to Rs 179.55, against its issue price of Rs 90 per shares on the BSE on Monday. <a href="https://www-business-standard-com-nalsar.knimbus.com/markets/news/stock-of-this-sme-segment-company-has-zoomed-nearly-100-on-debut-123060500351_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Market Breadth was fairly positive; 2,169 stocks advanced v/s 1,491 declining shares on the BSE

Nifty Auto index jumps over 1%; M&M leads the rally with over 4% gain

BSE Smallcap Heatmap:: Hitech Gear, Mazagon Dock, Indo Rama zoom up to 20%

BSE Midcap Heatmap:: Rajesh Exports, Torrent Power, Ajanta Pharma, Zee rally over 4%

Broader indices also gain in tandem with Nifty 50

Nifty 50 Losers:: Divi's Lab, Asian Paints, Tech Mahindra slip over 1%

Nifty 50 Gainers:: M&M soars 4%; Axis Bank, Tata Motors, L&T also shine

Sensex 30 Heatmap:: 16 Gainers v/s 14 Losers

CLOSING BELL:: NSE Nifty 50 settles with a gain of 60 pts at 18,594

CLOSING BELL:: S&P BSE Sensex ends 240 pts higher at 62,787

Stock of this SME segment company zooms nearly 100% on market debut Monday

SME company Hemant Surgical Industries (HSIL) made a robust stock market debut, with its share price nearly doubling (zoomed 99.5 per cent) to Rs 179.55, against its issue price of Rs 90 per shares on the BSE on Monday. <a href="https://www-business-standard-com-nalsar.knimbus.com/markets/news/stock-of-this-sme-segment-company-has-zoomed-nearly-100-on-debut-123060500351_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Analysts at ICICI Securities said they have been witnessing a structural shift in the defence budget with increased allocation for modernized indigenous platforms. The current government is looking very committed on this, which is very clear from the recent announcement of increasing domestic procurement budget share to 75 per cent for FY24 from 68 per cent for FY23. This implies growth of around 19 per cent against 8 per cent growth budgeted for total capital outlay. <a href="https://www-business-standard-com-nalsar.knimbus.com/markets/news/defence-shares-in-focus-hal-bharat-dynamics-bel-hit-new-highs-123060500250_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Some of the prominent ones that comprise these 269 stocks in the Indian context stocks that delivered over 10x total returns over a 5-year rolling period since 2000 as per Goldman Sachs includes Westlife Foodworld, Bharti Airtel, Adani Total Gas, Patanjali Foods, Larsen &amp; Toubro, BEML, Blue Star, Shree Cement, Lupin, Godrej Industries, Astral, Adani Enterprises, Hindustan Petroleum and Deepak Fertilisers. <a href="https://www-business-standard-com-nalsar.knimbus.com/markets/news/over-half-of-nse-500-stocks-deliver-10x-return-in-20-years-goldman-sachs-123060500276_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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SJS Enterprises hit a record high of Rs 571.80 on rallying 6 per cent on the BSE in intra-day trade, on strong business outlook. <a href="https://www-business-standard-com-nalsar.knimbus.com/markets/news/this-ashish-kacholia-owned-stock-tops-listing-day-high-soars-19-in-3-days-123060500174_1.html?1685942974" target="_blank"><strong>READ MORE</strong></a><br />
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ALERT :: India May Services PMI at 61.2 vs 62 MoM

&gt;&gt; Posting 61.2 in May, the seasonally adjusted S&amp;P Global India Services PMI&reg; Business Activity Index highlighted a further expansion in output across the sector.<br />
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&gt;&gt; Despite falling from 62.0 in April, the latest reading indicated the secondstrongest rate of growth in just under 13 years.<br />
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&gt;&gt;&nbsp; Favourable demand conditions, new client wins and positive market dynamics reportedly supported output.<br />
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&gt;&gt; Composite PMI unchanged at 61.6 MoM

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	Nomura prefers domestic-oriented sectors and companies over exporters, and prefers stocks that provide valuation comfort. <a href="https://www-business-standard-com-nalsar.knimbus.com/markets/news/indian-markets-have-limited-upside-in-the-near-term-buy-the-dips-nomura-123060500164_1.html" target="_blank"><strong>READ</strong><br />
	<img alt="markets" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-06/02/full/1685724135-9721.jpg?im=FeatureCrop,width=826,height=465" style="height: 338px; width: 600px;" /></a></div>

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	On June 2, Tata group signed an outline deal with the government of Gujarat to build a lithium-ion cell factory with an investment of about Rs 13,000 crore. <a href="https://www-business-standard-com-nalsar.knimbus.com/markets/news/tata-motors-hits-over-6-year-high-up-40-thus-far-in-2023-on-solid-outlook-123060500125_1.html" target="_blank"><strong>READ</strong></a></div>
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	<img alt="Tata motors" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-03/27/full/1679934860-7252.jpeg?im=FeatureCrop,width=826,height=465" style="height: 338px; width: 600px;" /></div>

M&M, Power Grid, Axis Bank lead gains on Sensex

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OPENING BELL: Sensex opens over 350 points higher

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Stocks to Watch on Monday, June 5: SBI Life, Hero Moto, Bajaj Finserv, NTPC

Stocks to Watch today, June 5, 2023: Brent crude related stocks could see considerable action today as oil prices jumped over 2 per cent overnight, and another 2 per cent Monday morning. <strong><a href="https://www-business-standard-com-nalsar.knimbus.com/markets/news/top-stocks-to-watch-today-june-5-sbi-life-hero-moto-bajaj-finserv-ntpc-ipca-labs-wipro-godrej-123060500070_1.html" target="_blank">READ MORE</a></strong><br />
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WATCH VIDEO | Will RBI's June meet push markets out of consolidation?

The RBI&rsquo;s MPC will meet between June 6th &amp; 8th. Will the RBI Governor&rsquo;s address help markets move out of the consolidation phase? How do rate sensitive sectors look on the charts ahead of the policy?<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/c1vGu5gxHBc" title="Will RBI's June meet push markets out of consolidation?" width="600"></iframe>

MPC likely to hit pause again on repo rate: Business Standard Poll

Most economists see FY24 inflation forecast likely being revised downward to 5% but no change in stance. <a href="https://www-business-standard-com-nalsar.knimbus.com/economy/analysis/bs-poll-rbi-status-quo-on-repo-rate-with-inflation-having-peaked-123060400422_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Rupee set to touch 83-per US dollar mark if RBI remains on hold this week

Thursday&#39;s policy review will help shape the rupee&#39;s fortunes, with traders expecting little reprieve after the currency fell under the weight of a stronger greenback in May. <a href="https://www-business-standard-com-nalsar.knimbus.com/economy/analysis/rupee-set-to-touch-83-per-us-dollar-mark-if-rbi-remains-on-hold-this-week-123060500068_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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Nifty 50 to face resistance at 18,650; Nifty Bank may slip into downtrend

The Stochastic and RSI indicators are showing a downward slope for the Nifty Bank index, indicating a bearish outlook, says Ravi Nathani, an independent technical analyst. <a href="https://www-business-standard-com-nalsar.knimbus.com/markets/news/nifty-50-to-face-resistance-at-18-650-nifty-bank-may-slip-into-downtrend-123060500067_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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There is caution among retail investors, says Sharekhan's Gaurav Dua

The one-way rally in the broader market lasts for 17/18 months (on average) and is followed by a corrective phase of 18-24 months. <a href="https://www-business-standard-com-nalsar.knimbus.com/markets/interviews/there-is-caution-among-retail-investors-says-sharekhan-s-gaurav-dua-123060400478_1.html?1685931421" target="_blank"><strong>READ MORE</strong></a><br />
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	<img align="" alt="Gaurav Dua" class="imgCont" src="https://bsmedia.business-standard.com/_media/bs/img/article/2023-06/04/full/1685903026-3864.jpg" style="border: 1px solid rgb(221, 221, 221); margin-right: 10px; padding: 1px; float: left; z-index: 0; width: 600px; height: 400px;" title="Gaurav Dua" />
	<div style="float: left; clear: both; font-style:italic; padding: 10px 10px 10px 0px; width:1200px;">
		Gaurav Dua, senior vice-president, head-capital market strategy and investment at Sharekhan by BNP Paribas</div>
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Street Signs: Spotlight on IKIO, CSK hits unlisted market for a six & more

Chennai Super Kings (CSK) is a champion in the unlisted market. Shares of CSK have rallied more than 10 per cent following its surprise victory in the recently concluded IPL. <a href="https://www-business-standard-com-nalsar.knimbus.com/markets/stock-market-news/street-signs-spotlight-on-ikio-csk-hits-unlisted-market-for-a-six-more-123060400477_1.html" target="_blank"><strong>READ MORE</strong></a><br />
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DIIs bought Rs 582 crore worth of equities on Friday, June 2

FIIs offloaded shares worth Rs 659 crore on Friday, June 2

Brent Crude, WTI Crude gain 1% each after Saudi Arabia pledges output cut

<em>source: oilprice.com</em><br />
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SGX Nifty gains over 50 points, trades above 18,700 levels

Asia-Pacific markets largely rise this morning; Nikkei 225 up 1%

US markets close higher on Friday after Biden signed debt ceiling bill into law

Sensex climbs 240pts, Nifty ends near 18,600 on firm global cues; M&M up 4%

CLOSING BELL, June 5, 2023: Sectorally, the Nifty Auto index advanced over 1 per cent, while the Nifty Media, Private Bank, and Consumer indices gained up to 0.8 per cent

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