Good morning!
Here are the top stories to start your day.
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⭐ Marico reports dip in volumes 👎
FMCG major Marico reported a fall in volume in its India business, mainly due to a drop in the sales of its Saffola brand of oils. The rest of its India business posted marginal volume growth. Meanwhile, its international business maintained strong momentum.
⭐ Spicejet faces another technical glitch ✈️
Spicejet fell 2.2% on Tuesday as one of its aircraft flying from Delhi to Dubai had to make an emergency landing in Pakistan following a technical issue. The DGCA has ordered a probe into the incident. This is the sixth such incident for the airline in the last 17 days. The stock is down 30% since the start of FY23.
⭐ Unemployment rises in June 👷
India's unemployment rate is at its highest in the last one year, according to research firm Centre for Monitoring Indian Economy. The unemployment rate reached 7.8% in June, up from 7.1% in May. This was mainly due to the delayed deployment of agriculture labour owing to patchy monsoon rains.
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.37% |
| Nikkei 225 (Japan) | ▼ 1.23% |
| Hang Seng (Hong Kong) | ▼ 0.56% |
| SSE Composite (China) | ▼ 0.59% |
| Dow Jones (US) (July 05) | ▼ 0.42% |
| NYSE (US) (July 05) | ▼ 0.84% |
| Nasdaq (US) (July 05) | ▲ 1.75% |
| S&P 500 (US) (July 05) | ▲ 0.16% |
Fact of the day
At $3.17 trillion, India was the sixth largest economy in the world in FY22, just $13 billion smaller than the UK which was at the fifth place.
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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.