Good morning, people!
Markets were a sea of red on Monday, with all sectoral indices closing lower. However, the government’s inflation data, which came out later in the evening, was heartening. Can it impact the markets today? We’ll find out soon enough. Till then, here are some stories to begin your day.
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⭐ Inflation slows down 😌
India's retail inflation eased to 7.04% in May, from April's eight-year-high inflation of 7.7%. While inflation has cooled off, it still remains higher than the RBI's revised estimate of 6.7% for the first quarter of FY23. The prices of fuel (1.4%) and food (1.6%) increased the fastest in May on a month-on-month basis.
⭐ GR Infra crumbles 📉
GR Infraprojects nosedived 10% on Monday to hit an all-time low of ₹1,226. This was after the civil construction company's offices at various locations were raided by the Central Bureau of Investigation (CBI). The raids were in connection to alleged irregularities in a national road highway project in Assam.
⭐ Rajesh Exports feeling ‘fab’ 🤩
Jewellery exporter Rajesh Exports rose 2.7% on Monday. The company's shares closed higher as its subsidiary Elest said it will be setting up the country's first display fabrication facility worth ₹24,000 crore. The plant will make next generation displays for smartphones, tablet computers and laptops.
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.5% |
| Nikkei 225 (Japan) | ▼ 1.9% |
| Hang Seng (Hong Kong) | ▼ 0.7% |
| SSE Composite (China) | ▼ 0.4% |
| Dow Jones (US) (June 13) | ▼ 2.7% |
| NYSE (US) (June 13) | ▼ 3.2% |
| Nasdaq (US) (June 13) | ▼ 4.6% |
| S&P 500 (US) (June 13) | ▼ 3.8% |
Fact of the day
Three decades after its launch, Internet Explorer will finally be retired by Microsoft on 15 June.
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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.