Good morning, people!
Markets were in indecisive mode on Wednesday ahead of the US Fed meeting outcome. Given the expectations of an aggressive rate hike, investors were cautious. The big question is: How will our markets react? We will find out soon. Here are the top stories to kick-start your day.
For more updates on F&O, click here.
⭐ Zomato’s EV journey gets boost
Jio-bp, a joint venture between Reliance Industries and bp (earlier known as British Petroleum), has entered into an agreement with Zomato to help the latter’s aim to achieve a 100% electronic fleet by 2030. As per the agreement, Jio-bp will provide EV mobility services to Zomato. Besides this, it will also give access to Jio-bp pulse branded battery-swapping stations.
⭐ Diesel sale sees jump
As per a data released on Wednesday, India's demand for diesel accelerated during the first two weeks of June. This comes on the back of a seasonal surge in demand due to agricultural activities. During this period, sales of diesel were 1.28 million tonnes, up 54.2% year-on-year.
⭐ India’s trade deficit expands
The country’s trade deficit for May stood at $24.29 billion as compared to $6.53 billion in May 2021. This is due to a surge in merchandise imports, which rose by 62.8% year-on-year to $63.2 billion, while exports saw a jump of 20.5% to $38.9 billion.
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.9% |
| Nikkei 225 (Japan) | ▲ 1.4% |
| Hang Seng (Hong Kong) | ▼ 0.1% |
| SSE Composite (China) | ▲ 0.2% |
| Dow Jones (US) (June 15) | ▲ 1.0% |
| NYSE (US) (June 15) | ▲ 0.8% |
| Nasdaq (US) (June 15) | ▲ 2.5% |
| S&P 500 (US) (June 15) | ▲ 1.4% |
Fact of the day
Taj has been ranked the world’s strongest hotel brand by Brand Finance.
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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.