The US dollar was weaker due to speculation of another rate hike by the US Federal Reserve. Higher expectations of US and global interest rates were generated by unexpected rate increases from the Bank of Canada and the Reserve Bank of Australia this week. The Canadian dollar remained steady and the US dollar index slightly dipped. Contrarily, sterling and the euro both gained slightly. The Japanese yen was strengthened by data showing Japan's economy grew in the first quarter, higher than the initial estimate. The Chinese offshore yuan was weak due to China's weak trade data.

Oil prices were barely changed in Asia trade as investors assessed the potential impact of Saudi output cuts against concerns over a global economic slowdown. Brent crude futures fell 1 cent to $76.94 a barrel, with the US West Texas Intermediate futures up 5 cents at $72.58 a barrel. Supporting the benchmarks was Saudi Arabia's proposals for deep output cuts on Wednesday, though rising US fuel stocks and weak Chinese export data, as well as later comments from Citigroup analysts, capped price gains.

The S&P 500 and Nasdaq ended the day lower on Wednesday as investors booked profits after a long megacap stocks run and ahead of key economic events. The Russell 2000 climbed 1.78%. The US inflation data for May is expected to show consumer prices eased, although core prices remain high. The Bank of Canada's decision to raise interest rates pushed up the 2-year and 10-year Treasury yields. The CBOE Volatility Index closed at its lowest since 14 Feb 2020. Wells Fargo raised Netflix's price target, with shares climbing 0.12% on the news. Yext soared 38.44% and Campbell Soup fell 8.91%.

Investors await the Reserve Bank of India's monetary policy decision today, when the central bank could likely leave its key interest rate unchanged.

The Board of Titagarh Wagons is scheduled to meet on June 10 to consider and approve a proposal to raise funds by issue equity of shares or other securities including through preferential issue.

Besides, there is no broad-basing criteria for an AIF which can be formed with just a few or even a single local or offshore investor who are called limited partners (LPs). Since such funds are incorporated in India, AIF investment in a domestic company is treated as local investment. Even if an AIF has all overseas LPs, the fund's equity holding in a company in India is not considered as foreign direct investment (FDI).

The regulator also allowed taking insurance cover for invoicing facilities on the TReDS platform which would aid financiers to hedge default risks.

Both the bond issues of REC have base sizes of ₹500 crore and additional subscription options of ₹2,500 crore each, sources said. One of the bonds is set to mature on April 30, 2026, and the other on June 30, 2028, they said.

Since its lows of March 23, 2021, the Nifty PE has risen from 18.49 and now stands at 21.70. In the same period, its price to book value rose sharply from 2.34 to 4.9 and dividend yield fell from 2 to 1.45. During this period, the Nifty returned 125.8%

HSBC carried out its first rupee non-deliverable options trade with Reliance Industries, while executing non-deliverable forward transactions with other counterparties.

Overseas investors bought shares of financial services firms worth ₹17,671 crore in May, their highest monthly purchase in the sector in the last 29 months, according to Primeinfobase.com data. They purchased auto and auto components shares worth ₹8,700 crore, the highest monthly buy in over 10 years. FPIs bought shares worth ₹41,207 crore in May, the data showed.

Notably, the group recently achieved a key milestone in its $300-million foreign currency sustainability-linked bonds raised by Adani Electricity Mumbai Ltd (AEML) in 2021. AEML, which is Adani Transmission Ltd's distribution arm, raised the bonds as part of its $2-billion global medium-term notes program.

The Sensex closed at 63,142.96, up 350.08 points, or 0.56%, from Tuesday's close. The Nifty advanced 127.40 points, or 0.68%, to settle at 18,726.40. Both indices are now within 1% of their respective all-time highs recorded on December 1 last year.

With the liquidity surplus currently at around ₹2 lakh crore, the overnight call money rate has remained on the lower side, driving down banks' cost of funds.

The loans pertained to various banks, and the nature of the obligation is fund-based working capital, non-fund-based working capital, term loans and FCCB (foreign currency convertible bonds).

Ashish Kacholia, a well-known investor, has sold a partial stake in D-link India through open-market transactions. The investor sold around 1.94 lakh shares (0.54%) of the company, reducing his stake from 2.11% in March. Kacholia has a varied portfolio that includes the hospitality, education, infra, and manufacturing sectors

Equity markets in India ended the day strong anticipating dovish policy action by the RBI governor, extending gains to the fourth consecutive session to more-than-six-month highs. Consumer goods, metals and realty stocks contributed to the rise of the blue-chip Nifty 50 and Sensex, which rose 0.68% to 18,726 and 0.56% to 63,143 respectively. The participation of FIIs as net buyers and anticipation of a positive revision in the RBI's inflation forecast during ongoing MPC meeting also led to today's market rally.

The Reserve Bank of India (RBI) has authorized insurance companies to operate in the trade receivable discounting system (TReDS) in a bid to solve low-rated buyers’ payment challenges. TReDS facilitates various parties like sellers, buyers and financiers making it a preferred mode of financing for Micro Small and Medium Enterprises (MSMEs). The platform processes transactions worth $8.3bn annually, but insurers' participation on the platform will aid financiers with credit needs to hedge default risks. The RBI circular stated that the stage at which insurance facility is to be availed will be specified by the operators of TReDS.

The names added on Wednesday are: QFX Markets, WinTrade, Guru Trade7 Limited, Bric Trade, Rubik Trade, Dream Trade, Mini Trade, and Trust Trade.

The Reserve Bank of India had announced its plans to expand the market in April and on Tuesday laid out guidelines for non-deliverable forward (NDF) contracts that can be issued to non-retail participants for hedging and are settled in Indian rupees.

Aruna Hotels' promoters and promoter groups have settled a Securities and Exchange Board of India (SEBI) case on the breach of SAST rules. The company's promoters paid ₹2.32 crore ($311,000) towards the settlement charges without admitting or denying the findings of regulators. SEBI had earlier issued a show-cause notice to the applicants for violating SAST (Substantial Acquisition of Shares and Takeovers) norms, before recommending that the matter be settled on payment of the charges.

Traders and investors should be cautious while trading in crude oil futures due to currency fluctuations, according to Anuj Gupta, the VP of commodity and currency research at IIFL Securities. Although Saudi Arabia has said it will start reducing its daily oil output to help stabilise the oil markets, Gupta advises traders and investors to buy on dips for mid to long term as the demand for crude oil is expected to increase. Gupta predicts that crude oil prices are likely to remain range-bound, with prices expected to test $80 to $85 levels in the near term.

The US Securities and Exchange Commission has sued Binance and Coinbase for alleged violations of US securities laws, citing various lapses. Fellows from the largest cryptocurrency exchange, Binance and its CEO Changpeng Zhao are accused of artificially inflating trading volumes, making misleading claims and surreptitiously controlling customers' assets; charges the company says will be "vigorously" defended. Coinbase, meanwhile, is accused of operating illegally without registration with the SEC, evading disclosures and earning billions of dollars through transactions. Investors reportedly withdrew $1.43bn from Binance and its US affiliate following the announcement of the lawsuit.

The price was at a 4.94% discount to the floor price of Rs 29.94 per share. The QIP, which opened on June 1, was fully subscribed and received a strong response from domestic as well as foreign investors, the bank said. Life Insurance Corporation of India took up the biggest chunk of shares with an allotment of 8.34 crore shares, which is nearly 24% of the capital raised.

The US Federal Reserve is not expected to raise rates at its June meeting, according to a Reuters poll, although a number of analysts expect at least one further increase this year. The poll saw 90% of the 86 economists surveyed predict that the federal funds rate will remain at 5.00% to 5.25%. A minority predict a further rise of 25 basis points to 5.25%-5.50%. However, over a third of respondents expect a rate hike later this year, including eight analysts who see one coming in July.

Life Insurance Corp (LIC) has raised its stake in Indian IT services firm Tech Mahindra to 8.8% from 6.8%, having added 1.96 crore shares through open market transactions. LIC saw its income from investments increase slightly to INR67,846 crore ($10.5bn) for the January-March period. Tech Mahindra shares ended 0.85% higher at INR1,095 on the NSE on 28 June, and the company has an average target of INR1,086.09, just under the current price, according to Trendlyne.

The S&P 500 and Nasdaq fell after reversing gains as technology stocks plummeted, with more than half of sub-sectors recording a decline. Inflation data in the US, due to be released shortly, is expected to show consumer prices marginally cooled in May, while core prices remained elevated

India's gold reserves have surged by over 40% since the country resumed purchasing the precious metal over five years ago. The RBI's continuous purchase underscores gold's prominence in international reserve portfolios amid market volatility and heightened risk. The rising share of gold in reserves is likely part of RBI's diversification strategy to reduce risk from geopolitical risks and the COVID-19 pandemic.

Over half of equity investors in India are from non-metro areas, according to a study by equity investment advisory firm Research and Ranking. Of the 2,000 respondents, around 50% of investors had not experienced a complete business cycle, suggesting potential limited exposure to market fluctuations, but around 60% adopted a long-term investing approach. The survey also found that 57% of investors yearned to invest a lump sum in equity, while 43% preferred a more measured approach via investing through systematic investment plans.

Equity mutual funds with exposure to IT stocks have seen returns of 15-20% in the last five years. Five technology funds are recommended: ICICI Prudential Technology, Tata Digital India, Aditya Birla Sun Life Digital India, SBI Technology Opportunities, and Franklin India Technology. Each has varying net asset values and trailing returns over different time periods, as well as assets under management, expense ratios, and minimum investment requirements. Despite concerns over recession and cuts in spending, technology investments appear to have weathered the storm.

​Here is a list of the five most and least preferred mutual funds of the last financial year.

Radhagobind Commercial will trade ex-split on June 10, after announcing its shares will split in a ratio of 1:10. The company's operations include trading in fabrics and textiles material. The stock split is expected to enhance the liquidity of shares in the market. The stock price will be adjusted according to the split ratio. Meanwhile, three other firms are commencing ex-dividend trading on June 8: Bikaji Foods International is offering Rs 0.75 per equity share, Ponni Sugars (Erode) has declared a dividend of Rs 6.5 per equity share, and Qgo Finance is offering Rs 0.1 per share dividend.

The 30-share BSE Sensex closed up 350.08 points at 63142.96

The 30-share BSE Sensex closed up 350.08 points at 63142.96

Indian stocks continued to rise as the S&P BSE Sensex gained over 350 points on Wednesday. The Nifty50 closed above 18700 levels, scaling to its first high since December 5, 2022. Telecom, utilities, metals, and capital goods sectors showed positive buying trends. Stocks that performed well include Suzlon Energy, Aster DM Healthcare, and Tata Motors - posting either a fresh 52-week high or a volume or price breakout.

The Nifty50, the benchmark index of the National Stock Exchange (NSE) of India, broke through the critical resistance level of 18,700 points and even closed higher at 18,726.40 points on Wednesday, signalling an attempt at an uptrend. Analysts predict that the Nifty could reach an all-time-high of over 18,889 in the short term, with immediate support at 18,650 and resistance around 18,900. The Nifty has already broken out of a sideways pattern, which positions it for a positive move ahead of the expected RBI rate decision tomorrow.

Cipla, Kotak Bank, Bajaj Finance, M&M and Maruti Suzuki were among the top losers on NSE in today's trade.

The Nifty Auto index closed 0.61 per cent up at 14819.45.

The Nifty IT index closed 0.78 per cent up at 28913.7.

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Urban Enviro Waste Management is planning to go public with an IPO on June 12. The company provides solid waste management services, including waste collection, transportation, segregation, and processing across several Indian states. The IPO consists of the fresh issue of 9.2 lakh equity shares and a face value of Rs 10 each, aggregating Rs 9.2 crore, at a price of Rs 100 per share. The net proceeds of the issue will be used for repayment of secured borrowings, working capital requirements, and other general corporate purposes. The IPO will be listed on the NSE Emerge platform.

The 30-share BSE Sensex closed up 350.08 points at 63142.96

Gold prices gained Rs 25 to Rs 60,800 per 10 grams in the national capital on Wednesday, according to HDFC Securities. In the previous trade, the yellow metal had ended at Rs 60,775 per 10 grams.Silver, however, declined Rs 150 to Rs 72,800 per kg.

The Nifty Bank index closed 0.25 per cent up at 44275.3.

The Nifty Realty index closed 1.59 per cent up at 506.3.

The 30-share BSE Sensex closed up 350.08 points at 63142.96

In the Nifty pack, 42 stocks closed in the green, while 8 stocks ended in the red.