Good morning!
Here are the top stories to start your day.
⭐India’s GDP growth above estimate
The Indian economy expanded 6.1% YoY in the last quarter of FY23, higher than the market forecast of 5% and well above the Q3 growth rate of 4.5%. The expansion was mainly boosted by private consumption, services exports and manufacturing amid easing input cost pressures.
⭐ Lupin gets USFDA approval
The pharma major received final USFDA approval to manufacture and market new drug Obeticholic Acid Tablets in the US market. According to IQVIA data quoted by Lupin, these tablets have annual sales of $262 million in the United States.
Global markets (at 8:15 AM today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.3% |
| Nikkei 225 (Japan) | ▲ 0.2% |
| Hang Seng (Hong Kong) | ▲ 1.0% |
| SSE Composite (China) | ▲ 0.5% |
| Dow Jones (US) (May 31) | ▼ 0.4% |
| NYSE (US) (May 31) | ▼ 0.6% |
| Nasdaq (US) May 31) | ▼ 0.6% |
| S&P 500 (US) (May 30) | ▼ 0.6% |
Fact of the day
India’s infrastructure output slows to 6-month low of 3.5% in April.
Source: Economic Times