1. Wall Street | US stocks climbed on Friday, led by technology shares after a tepid U.S. monthly jobs report relieved investor concerns the Federal Reserve might rein in monetary stimulus soon. The Dow Jones Industrial Average rose 179.35 points, or 0.52 percent, to 34,756.39, the S&P 500 gained 37.04 points, or 0.88 percent, to 4,229.89 and the Nasdaq Composite added 199.98 points, or 1.47 percent, to 13,814.49. All three indexes rose for the week, with the Nasdaq posting its third straight weekly gain.
2. Asian markets | Asian shares firmed on Monday while the dollar wavered after the anxiously awaited May US payrolls report showed the recovery on track but not so hot that it might bring forward a policy tapering from the Federal Reserve. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.3 percent and looked to break three sessions of losses. Japan’s Nikkei rose 1.0 percent to touch its highest in almost a month, and South Korea gained 0.7 percent.
3. Indian market on Friday | Indian equity benchmark indices ended lower Friday after the RBI kept the key policy rates unchanged while maintaining an accommodative stance. The Sensex fell 132.38 points, or 0.25 percent, to close at 52,100.05, while the Nifty settled 20.10 points, or 0.13 percent lower at 15,670.25. Broader markets outperformed the benchmarks with the midcap and smallcap indices up 0.7 percent and 0.4 percent, respectively. Among sectors, gains were seen in metals, auto and realty indices, while banks, FMCG and pharma indices ended in the red.
4. Crude oil | Oil extended gains to hit fresh multi-year highs on Monday, underpinned by a brighter economic and fuel-demand outlook, while investors eyed the outcome of talks between Iran and world powers over a nuclear deal that is set to boost crude supplies. Brent crude futures for August rose 28 cents, or 0.4 percent, to $72.17 a barrel, their highest since May 2019. US West Texas Intermediate crude for July touched $70 for the first time since October 2018 and was at $69.91 a barrel, up 29 cents, or 0.4 percent.
5. Rupee | The rupee lost 8 paise to close at 72.99 against the US dollar after a range-bound session on Friday as cautious forex market participants seemed weighing RBI policy measures aimed at mitigating the COVID-19 impact on the economy. At the interbank forex market, the local unit opened on a weak note at 73.00 against the greenback and witnessed an intra-day high of 72.95 and a low of 73.13. It finally ended at 72.99, registering a fall of 8 paise over its previous closing. On a weekly basis, the rupee has depreciated by 54 paise to the US currency.
6. US job growth picks up | US employers increased hiring in May and raised wages as they competed for workers, with millions of unemployed Americans still at home because of childcare issues, generous unemployment checks and lingering fears over COVID-19. Nonfarm payrolls increased by 559,000 jobs last month after rising 278,000 in April. That left employment about 7.6 million jobs below its peak in February 2020. About 9.3 million people were classified as unemployed last month. There are a record 8.1 million unfilled jobs.
7. GST mop-up tops Rs 1.02 lakh cr in May | GST tax collections remained above Rs 1 lakh crore mark for the eighth straight month in May, indicating that the impact of the devastating second wave of Covid infections on the economy may have been limited. Tax collections on sale of goods and rendering of services in May at Rs 1.02 lakh crore were 27 percent lower than April 2021, but 65 percent higher than May 2020 when the nation was under complete lockdown.
8. RBI issues norms on Certificate of Deposit | The Reserve Bank of India (RBI) on Friday said Certificate of Deposit (CD) shall be issued in a minimum denomination of Rs 5 lakh and in multiples of Rs 5 lakh thereafter. CD is a negotiable, unsecured money market instrument issued by a bank as a usance promissory note against funds deposited with it for a maturity period up to one year.
9. FPIs invest Rs 7,968 crore in Indian markets in just four trading sessions | Foreign investors have infused Rs 7,968 crore into Indian equities during June 1-4 as risk-on sentiment improved amid rapidly falling new COVID-19 cases and robust corporate earnings. The inflow comes following a net withdrawal of Rs 2,954 crore in May and Rs 9,659 crore in April, data with depositories showed.
10. Seven of top-10 most valued firms add over Rs 1.15 lakh cr to m-cap | Seven of the top-10 most valued companies together added Rs 1,15,898.82 crore in market valuation last week, with Reliance Industries grabbing the top spot. Last week, the 30-share BSE Sensex jumped 677.17 points or 1.31 per cent. Reliance Industries, HDFC Bank, Hindustan Unilever, HDFC, State Bank of India, Bajaj Finance and Kotak Mahindra Bank witnessed rise in their valuation. On the other hand, Tata Consultancy Services, Infosys and ICICI Bank's market capitalisation declined.