Good morning, people!
Welcome to a new week. The monsoon was quite uneven in its first week, with Kerala receiving less-than-expected rainfall. However, it has advanced into other states and has already reached aamchi Mumbai. So don’t forget to carry an umbrella the next time you head out. Anyway, here are the top stories to begin your day.
For more updates on F&O, click here.
⭐ SBI says loan demand is robust
SBI has said that the loan demand is making a comeback in India despite the inflation and rising borrowing costs. The rise in business demand and credit growth comes amid rising interest rates. The RBI hiked interest rates by 0.5% in its policy meeting held earlier this month.
⭐ Power demand at record high 💡
India's power demand has jumped by a record 40,000-45,000 megawatts per day this year, owing to the intense heatwave in parts of the country. Since 1 January, shares of Coal India have surged 28%. Meanwhile, power generation companies like NTPC and Adani Power have risen up to 176%.
⭐ Oil prices cool down
Crude oil prices fell on Friday after US consumer inflation rose more than expected, and China imposed fresh lockdowns. Brent crude fell $1.06 to $122.01 a barrel. However, it still inched up 1.9% last week and remains at elevated levels.
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▼ 1.9% |
| Nikkei 225 (Japan) | ▼ 2.6% |
| Hang Seng (Hong Kong) | ▼ 2.9% |
| SSE Composite (China) | ▼ 1.4% |
| Dow Jones (US) (June 10) | ▼ 2.7% |
| NYSE (US) (June 10) | ▼ 2.3% |
| Nasdaq (US) (June 10) | ▼ 3.5% |
| S&P 500 (US) (June 10) | ▼ 2.9% |
Fact of the day
The US national average price of gasoline touched $5 per gallon for the first time on Saturday.
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Investment in securities markets is subject to market risks; please read all the related documents carefully before investing. The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results. Details provided in the above newsletter are for educational purposes and should not be construed as investment advice by RKSV group. Investors should consult their investment advisor before making any investment decision.
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