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Modi 2.0 Cabinet, Trump's Mexico Tariffs, and Top Cues in Focus Today
Mon, 3 Jun Pre-Open | Monish Vora, TM Team

India share markets ended marginally lower on Friday last week.

At the closing bell on Friday, the BSE Sensex stood lower by 117 points (down 0.3%) and the NSE Nifty closed down by 23 points (down 0.2%).

The BSE Mid Cap index ended the day up 0.2%, while the BSE Small Cap index ended the day down 0.7%.

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Top Stocks in Focus Today

From the energy sector, HPCL share price will be in focus today as the company last week reported strong earnings in March quarter. Shares of the company also hit their 52-week high of Rs 331 last week on the back of a fall in crude oil prices.

HPCL reported 70% year-on-year (YoY) growth in net profit at Rs 29.7 billion in Q4FY19, on account of a better-than-expected performance in the marketing segment.

The state-owned oil marketing company's (OMC) board also recommended final equity dividend of Rs 9.40 per share for the financial year 2018-2019.

To know more about the company, you can read HPCL's latest result analysis on our website.

From the aviation space, Jet Airways share price will be in focus today as the grounded carrier said it won't approve its financial results for FY19. As per an article in The Economic Times, this is due to the ongoing search for a new investor as well as the massive attrition in its board and top management.

Modi 2.0 Cabinet

In the news from the macroeconomic space, it was announced that under the new NDA government Nirmala Sitharaman will be the new Finance Minister as well as Corporate Affairs Minister, while Rajnath Singh would be Defence Minister.

Under Modi 2.0 Cabinet, Amit Shah will become Home Minister while Piyush Goyal will be Commerce and Railway Minister.

Nitin Gadkari holds Road, Transport and Highways Ministery along with MSME, while RK Singh is appointed as Power Minister.

US to Hit Mexico with Export Tariffs

Last week, US President Donald Trump announced tariffs on Mexican imports.

Washington threatened to impose tariffs on imports from Mexico. Trump, in an announcement reported that a 5% tariff would be levied on all goods from Mexico with effect from June 1 and tariffs would remain in place till Mexico takes effective action to alleviate the flow of migrants.

Moreover, the announcement warned that tariffs would go up to 25% by October if Mexico did not take sufficient action.

The above development sent major currencies and crude oil trade on a negative note.

Rupee Continues Downtrend

The rupee witnessed selling pressure last week.

Meanwhile, Trump announcement of tariffs on Mexican imports is expected to keep the rupee's advance in check, the reports noted.

Speaking of currencies, Vijay Bhambwani, editor of Weekly Cash Alerts, tells you the main reasons why not to trade commodities and currencies the same way you would trade equities. Here's an excerpt of what he wrote...

  • Currencies are traded in pairs and the most liquid is the USDINR. Currencies are traded in four decimal points just as bonds are. The international derivative traders association has indicated that forex may be traded in 6 decimals in the coming few years.

    It takes months sometimes for the currency pair to pass the next round figure, say from 70 to 71.

    Can you really trade commodities and currencies alike or for that matter, equities and currencies alike? Definitely not!

To know more, you can read Vijay's entire article here: Is Trading in Equities, Commodities, and Currencies the Same?

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary


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Stock Market Updates

Sensex Ends 129 Points Lower; Banking and Finance Stocks Witness Selling (Today's Market)

Jun 4, 2020 Closing

The BSE Sensex ended the day down by 129 points, while the NSE Nifty closed down by 32 points.

LUPIN Surges by 5%; BSE HEALTHCARE Index Up 1.8% (Today's Market)

Jun 4, 2020 03:29 PM

LUPIN share price has surged by 5% and its current market price is Rs 913. The BSE HEALTHCARE is up by 1.8%. The top gainers in the BSE HEALTHCARE Index is LUPIN (up 5.1%). The top losers are LAURUS LABS LTD (down 0.1%) and ABBOTT INDIA (down 0.1%).

CITY UNION BANK Plunges by 5%; BSE BANKEX Index Down 2.8% (Today's Market)

Jun 4, 2020 03:25 PM

CITY UNION BANK share price has plunged by 5% and its current market price is Rs 146. The BSE BANKEX is down by 2.8%. The top losers are CITY UNION BANK (down 5.1%) and RBL BANK LTD (down 6.5%).

ASIAN PAINTS Plunges by 5%; BSE 500 Index Down 0.2% (Today's Market)

Jun 4, 2020 03:25 PM

ASIAN PAINTS share price has plunged by 5% and its current market price is Rs 1,727. The BSE 500 is down by 0.2%. The top gainers in the BSE 500 Index are INOX LEISURE (up 15.9%) and GULF OIL LUBRICANTS (up 13.3%). The top losers are ASIAN PAINTS (down 5.1%) and GODREJ PROPERTIES (down 5.3%).

MULTI COMMODITY Plunges by 5%; BSE 500 Index Down 0.3% (Today's Market)

Jun 4, 2020 03:15 PM

MULTI COMMODITY share price has plunged by 5% and its current market price is Rs 1,298. The BSE 500 is down by 0.3%. The top gainers in the BSE 500 Index are INOX LEISURE (up 14.2%) and GULF OIL LUBRICANTS (up 13.2%). The top losers are MULTI COMMODITY (down 5.2%) and BANDHAN BANK LTD (down 6.1%).

INOX LEISURE Surges by 10%; BSE 500 Index Down 0.6% (Today's Market)

Jun 4, 2020 03:05 PM

INOX LEISURE share price has surged by 10% and its current market price is Rs 257. The BSE 500 is down by 0.6%. The top gainers in the BSE 500 Index are INOX LEISURE (up 10.0%) and GULF OIL LUBRICANTS (up 16.5%). The top losers are BAJAJ AUTO (down 0.1%) and CANARA BANK (down 0.1%).

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