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A public feud erupted between Donald Trump and Elon Musk over a controversial spending bill, leading to a significant 14% drop in Tesla's stock and a $152 billion loss in market value. The dispute, fueled by online exchanges, involved accusations of ingratitude and threats to cancel government contracts. Musk hinted at damaging information regarding Trump, further escalating the conflict.
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News and Media
V. Srivatsa of UTI Mutual Fund suggests navigating market volatility by focusing on domestic sectors like autos and banking, while reducing exposure to global autos and metals. He notes that while IPO valuations appear high, value can be found in private sector banking, telecom, and chemicals. The fund is also increasing exposure to domestic-oriented industries.
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News and Media
In the NSE Large Cap pack, five stocks' close prices crossed above their 200 DMA (Daily Moving Averages) on June 5, according to stockedge.com's technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend. Take a look:
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News and Media
Eid al-Adha, also known as Bakrid, will be celebrated in India on June 7, leading to closures for most public offices, schools, and banks on June 6. However, stock markets like NSE and BSE will remain open. The festival commemorates Prophet Ibrahim's faith. Upcoming stock market holidays in 2025 include Independence Day, Diwali, and Christmas.
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News and Media
Ahead of its bi-monthly monetary policy review, the Reserve Bank of India (RBI) accepted 23,855 crore worth of bids in its bond buyback, 95% of the notified amount. Despite the acceptance, market enthusiasm was muted compared to January's exercises.
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News and Media
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