"The upcoming MPC meeting in early June is expected to focus on two important aspects that have emerged in the last few weeks - a sustained moderation of the headline retail inflation and a better than expected GDP growth print in Q4FY23," said Suman Chowdhury, Chief Economist and Head - Research, Acuite Ratings and Research on RBI’s Monetary Policy Committee meet
"The MPC is likely to highlight the need to evaluate the impact of existing rate hikes on inflation and aggregate demand as a justification to keep rates unchanged. Possible risks to headline inflation, including the likely occurrence of an El Nino this year and some stickiness in core inflation from resilient economic growth could imply the RBI will remain on pause in the near term," as per Barclays
“Global sentiments improved after the US reported impressive jobs data, thus raising hope for a rate hike pause by the US Fed in its upcoming meeting. OPEC+ decided to reduce overall production targets till 2024 by a further 1.4 million barrels per day (bpd), which could keep crude prices firm. Nifty opened higher and remained in positive territory throughout to close with gains of 60 points at 18,594. Northbound Journey continued in Mid and Small-cap stocks. Majority of the sectors ended in the green, except FMCG, IT, and PSU Bank,” said Siddhartha Khemka, Head- Retail Research, Motilal Oswal Financial Services Ltd.
“Markets would react to Services PMI data. Nifty is gradually inching higher towards its life highs supported by smart gains index heavyweights. Auto and financials are likely to be in focus ahead of the RBI policy meeting this week and are expected to remain in momentum,” said Motilal Oswal Financial Services Ltd’s Siddhartha Khemka
USDINR has arrived near confluence zone which can be utilised as a buying opportunity as the pair is poised to cross 83.05 which can soar it towards 83.50 levels, as per analysts at Nuvama Institutional Equities
“Immediate support is at 58,800 below which major support is placed at 58,550 and immediate resistance is at 60,400 above which major resistance is placed at 60750. Based on the above technical structure we can expect Gold (Aug) to trade in a range of 58,800-60,400 with a sideways to bearish bias,” as per analysts at Kotak Securities
Honda Elevate SUV is set to be unveiled today (June 6) in a global launch. The much-awaited compact SUV will first go on sale in the Indian market. Honda Elevate price is expected to be between Rs 10.50 lakh and Rs 20 lakh (ex-showroom). Honda Elevate SUV’s rivals will include cars like Hyundai Creta, Maruti Suzuki Grand Vitara, Skoda Kushaq, Kia Seltos, Volkswagen Taigun and MG Astor
Public sector OMCs including BPCL, IOCL and HPCL revise their petrol price and diesel price daily in line with international benchmark prices and forex rates. Petrol and diesel prices today remained stable
The IMD forecast stated, “Heatwave conditions (are) very likely to continue in isolated pockets over West Bengal and Sikkim and Northeast Jharkhand during 4th-8th June… over Telangana during 04th to 6th June; over Vidarbha during 06th to 08th June…”
The Joint CSIR-UGC NET examination December 2022 - June 2023 for Junior Research Fellowship (JRF) and for Lectureship in computer-based test (CBT) mode is being conducted by the National Testing Agency (NTA) between June 6 (today) to June 8. The exams will be conducted at two time slots from 9 am to 12 pm and 3 pm to 6 pm