Good morning, people!
The RBI’s rate hike decision made this week feel really long, didn’t it? But finally, Friday is here. Will the markets also be in a Friday mood today? We’re keeping our fingers crossed. Here are the top stories to begin the day.
For more updates on F&O, click here.
⭐ Liquor makers in good spirits 🍸
Punjab has rolled out a new excise duty policy, which will bring down the prices of liquor by 35-60%. The move is aimed to cut down smuggling of liquor into the state and increase revenue from excise. Meanwhile, liquor stocks were upbeat, with United Spirits and Radico Khaitan rising around 2% each on Thursday.
⭐ Plastic ban increases FMCG woes 😕
While the date of the nationwide ban of single-use plastic (1 July) draws near, beverage makers have petitioned the government to allow a slow phasing out of plastic straws for juice packs. They say the industry would find it hard to make alternative arrangements in such a short time. According to an industry body, the transition will also lead to a loss of ₹3,000 crore in sales for the industry.
⭐ Unemployment rate drops 🙍
According to the Centre for Monitoring Indian Economy (CMIE), the number of employed in India increased by 1 million in May. The total number of employed stands at 404 million, a drop from 7.83% in April to 7.12% in May. This is the second consecutive month of an increase in the employment rate.
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▼ 2.7% |
| Nikkei 225 (Japan) | ▼ 1.1% |
| Hang Seng (Hong Kong) | ▼ 0.7% |
| SSE Composite (China) | ▲ 0.2% |
| Dow Jones (US) (June 09) | ▼ 1.9% |
| NYSE (US) (June 09) | ▼ 2.2% |
| Nasdaq (US) (June 09) | ▼ 0.7% |
| S&P 500 (US) (June 09) | ▼ 2.3% |
Fact of the day
The National Highways Authority of India (NHAI) has set a Guinness World Record for laying a 75-km long bituminous concrete lane in 105 hours.
We'd love your thoughts on this morning update.
If you haven't already, open your Upstox account to get IPO-ready today! Click here to sign up.
To catch our latest educational videos, join our Telegram channel here.
Disclosures and Disclaimer
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.