Nikkei surges past 68,000 on tech rally
INDIA MARKET | Wed, 3 Jun 2026, 5:04PM IST
Chipmaking equipment giant Tokyo Electron surged 13.4%, while semiconductor testing equipment maker Advantest rose 5.1%. Other notable performers included Kioxia Holdings (+0.7%), Fujikura (+9.3%), and Furukawa Electric (+4.3%).
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IEX electricity volume climbs 9% YoY to 12,983 MU in May'26
INDIA MARKET | Wed, 3 Jun 2026, 5:04PM IST
Indian Energy Exchange (IEX) announced that it has achieved monthly electricity volume of 12,983 MUs in May 2026, registering a growth of 18.6% YoY.
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IndusInd Bank clarifies it has not received regulatory communication on whistleblower complaint
INDIA MARKET | Wed, 3 Jun 2026, 5:04PM IST
IndusInd Bank on Wednesday clarified that it has not received any communication from any government or regulatory authority regarding the whistleblower complaint referred to in recent media reports.
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HMA Agro Industries' MD resigns; CEO retires
INDIA MARKET | Wed, 3 Jun 2026, 5:04PM IST
HMA Agro Industries said that Mohammad Mehmood Qureshi has resigned as managing director and director with effect from the close of business hours on 2 June 2026 due to personal reasons and other professional commitments.
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China stocks extend gains as services PMI strengthens
INDIA MARKET | Wed, 3 Jun 2026, 4:50PM IST
Investors showed confidence in AI-related shares despite concerns about high valuations, encouraged by expectations of strong earnings growth. On the economic front, a private survey revealed that Chinas Composite PMI climbed to a three-month high of 54.0 in May. The services PMI was the main driver, rising to 54.4, also a three-month peak.
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INDIA MARKET | Wed, 3 Jun 2026, 4:50PM IST
The Purchasing Managers Index (PMI) for manufacturing rose to a four-month high of 56.9 in February 2026 while the services PMI stood at 58.1. This indicates sustained expansion across both sectors. Industrial activity was supported by strong performance in domestic demand-driven segments such as steel and cement, with steel production growing by 7.2% and cement output by 9.3% in February 2026. This reflects continued infrastructure momentum and public capital expenditure support.
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Benchmarks pare steep losses; Sensex slides 304 points, Nifty ends below 23,450
INDIA MARKET | Wed, 3 Jun 2026, 4:50PM IST
The domestic equity benchmarks staged a sharp recovery from intraday lows on Wednesday as bargain hunting emerged after the morning selloff. The Nifty, which slipped to an intraday low of 23,151.50, rebounded nearly 250 points and climbed back above the 23,400 mark in late trade. Sentiment improved as investors accumulated beaten-down stocks. However, caution persisted amid uncertainty surrounding U.S.-Iran ceasefire negotiations, which kept global energy markets volatile and crude oil prices elevated. Despite the recovery, the index settled below the 23,450 level, weighed down by weakness in IT and FMCG stocks. Analysts said the Nifty remains technically weak, with immediate support seen at 23,300 and resistance at 23,600.
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Quick Wrap: Nifty IT Index falls 5.57%
INDIA MARKET | Wed, 3 Jun 2026, 4:50PM IST
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CEOs quitting general insurance companies to pursue entrepreneurial ventures
INDIA BUSINESS | Wed, 3 Jun 2026, 4:48PM IST
Top executives are exiting established general insurance firms to launch new entrepreneurial ventures. This trend is fueled by India's vast, under-penetrated insurance market and supportive regulatory reforms. Private equity firms are actively funding these new ventures, recognizing the immense investment potential. Experienced leaders bring crucial expertise, accelerating growth in this dynamic sector.
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MPC's repo rate pause will help stabilise growth: SBI chairman
INDIA BUSINESS | Wed, 3 Jun 2026, 4:46PM IST
State Bank of India Chairman CS Setty anticipates a Reserve Bank of India interest rate pause to foster stable growth. He highlighted India's future economic expansion depends on boosting entrepreneurship, improving market access, and investing in its large young population. Banks must scale up financing for infrastructure, manufacturing, and green initiatives to meet ambitious targets.
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Gold futures drop to 1.58 lakh/10 grams amid U.S.-Iran ceasefire concerns
INDIA BUSINESS | Wed, 3 Jun 2026, 4:41PM IST
On the Multi Commodity Exchange, the August contract of the metal depreciated by 562, or 0.35%, to 1,58,784 per 10 grams in a business turnover of 8,266 lots
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Fuel exports decline to 930,000 bpd in May, lowest since 2022
INDIA NEWS | Wed, 3 Jun 2026, 4:40PM IST
India's exports of refined petroleum products fell to about 930,000 barrels per day (bpd) in May, their lowest level since October 2022, as refinery maintenance, changing production priorities and stronger domestic demand curtailed overseas shipments.
Exports declined to around 930,000 bpd, down to levels last seen when shipments averaged 926,000 bpd in October 2022, reflecting a combination of lower refinery throughput and a growing focus on supplying the domestic market, according to data analytics firm Kpler.
"This sharp cutback was driven by a combination of lower refinery throughput, maintenance activity, and a structural pivot toward the domestic market," said Sumit Ritolia, model and refining manager at Kpler.
A key factor behind the decline was planned maintenance at Reliance Industries' Jamnagar refining complex, India's largest refinery and a major exporter of refined fuels. The maintenance programme reduced crude processing rates and limited the availability of export ...
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TMC Split Imminent? Speaker Accepts Letter Signed By 58 MLAs Backing Ritabrata Bandyopadhyay As LoP
INDIA MARKET | Wed, 3 Jun 2026, 4:39PM IST
Bandyopadhyay was expelled from the TMC along with Sandipan Saha for alleged "anti-party" activities.
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Rupee Falls 31 Paise To 95.67 Against Dollar After US Proposes New Duties On India
INDIA MARKET | Wed, 3 Jun 2026, 4:38PM IST
The US Trade Representative has proposed 12.5% additional duties on 54 countries, including India.
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Iran Agreed 'Won't Have Nuclear Weapons', Trump's Big Claim Amid Talks Stalemate
INDIA MARKET | Wed, 3 Jun 2026, 4:38PM IST
File image of US President Donald Trump
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Biggest-Ever Buy: India Preps $2 Billion Homegrown Drone Orders, Industry Body Says
INDIA MARKET | Wed, 3 Jun 2026, 4:34PM IST
The move comes amid growing recognition of the role drones play in modern warfare.
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INDIA MARKET | Wed, 3 Jun 2026, 4:34PM IST
Despite a 303-point decline in the Sensex, six BSE Commodities index stocks touched fresh 52-week highs. Fineotex Chemical, Nitta Gelatin India, Balaji Amines, Rain Industries, GOCL Corporation and NMDC outperformed the broader market, signaling strong momentum and sustained investor confidence.
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Indian killed in Kuwait airport drone attack
INDIA NEWS | Wed, 3 Jun 2026, 4:33PM IST
An Indian national was killed in an attack on Kuwait International Airport on Wednesday, prompting the Indian Embassy in Kuwait to express condolences and assure support to the victim's family. The incident occurred during an Iranian missile and drone attack that targeted civilian facilities in Kuwait, including the airport, according to Kuwaiti authorities. In a statement posted on X, the Embassy of India in Kuwait said, Embassy of India in Kuwait expresses its deepest condolences at the tragic demise of an Indian national due to an attack on the airport in Kuwait today. The embassy added that it is in contact with the bereaved family and is coordinating closely with Kuwaiti authorities to provide all possible assistance to the family and those injured in the incident.— indembkwt (@indembkwt) Kuwait airport strike causes damageKuwait said the attack caused significant damage to Terminal 1 of Kuwait International Airport and injured several people. Flights were temporarily diverted before operations gradually resumed after safety assessments. Kuwaiti authorities described the airport as one of several civilian sites targeted in the attack. The strike came amid heightened tensions in the Gulf region, with Iran launching missiles and drones toward Kuwait and other neighbouring states. US and regional forces reportedly intercepted several incoming projectiles, while some missiles failed to reach their intended targets. Embassy monitoring situation The Indian mission has been actively assisting Indian nationals in Kuwait during recent regional disruptions. The embassy said it remains engaged with local authorities as investigations and relief efforts continue. The identity of the deceased Indian national has not been officially released. Kuwaiti authorities have also not disclosed further details about the victim or the circumstances of the death.
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ET Alpha Wealth Summit: What's next for markets, AI and India's growth story?
INDIA MARKET | Wed, 3 Jun 2026, 4:33PM IST
Leading investors will convene at the ET Alpha Wealth Summit in Mumbai on June 4 to dissect market trends and identify opportunities. Discussions will focus on artificial intelligence's impact on India's IT sector and the nation's economic trajectory, alongside the durability of India's growth story amidst global uncertainties.
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ADIA, NPS Korea back Kotak Alts $1 billion realty fund
INDIA BUSINESS | Wed, 3 Jun 2026, 4:32PM IST
Kotak Alts has successfully raised one billion dollars for its fourteenth real estate fund. The Abu Dhabi Investment Authority anchored the fund with over six hundred seventy-five million dollars. The National Pension Service of the Republic of Korea also made its first investment in Indian alternatives. This fund will finance growth and development across Indian real estate.
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Kotak Alts raises $1 billion through 14th real estate fund
INDIA BUSINESS | Wed, 3 Jun 2026, 4:32PM IST
Kotak Alts has successfully raised one billion dollars for its fourteenth real estate fund. The Abu Dhabi Investment Authority anchored the fund with over six hundred seventy-five million dollars. The National Pension Service of the Republic of Korea also made its first investment in Indian alternatives. This fund will finance growth and development across Indian real estate.
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Board of Hindware Home Innovation approves acquisition of balance stake in Hintastica
INDIA MARKET | Wed, 3 Jun 2026, 4:31PM IST
At meeting held on 03 June 2026
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Novelix Pharma inks pact with German Firm to boost Astaxanthin output
INDIA MARKET | Wed, 3 Jun 2026, 4:31PM IST
Novelix Pharmaceuticals entered into an agreement with GMBU e.V., Halle (Saale), Germany, to scale up the production of Astaxanthin at the company's research facilities in Hyderabad.
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NHPC OFS sails through as non-retail portion subscribed 1.74 times; retail book subscribed 1.9 times
INDIA MARKET | Wed, 3 Jun 2026, 4:31PM IST
The Government of India's offer for sale (OFS) in NHPC received strong investor response, prompting the full exercise of the oversubscription option and taking the total issue size to 60.27 crore shares.
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Illegal Rooms, No Emergency Exit, No Fire NOC: Inside Delhi Hotel's Deadly Fire Tragedy
INDIA MARKET | Wed, 3 Jun 2026, 4:23PM IST
The fire rapidly moved upwards of Delhi's Hotel Arpit Palace, devastating the third and fourth floors.
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INDIA BUSINESS | Wed, 3 Jun 2026, 4:21PM IST
Reliance Industries' Model Economic Township Ltd has committed Rs 8,646 crore to its Jhajjar project. This investment, alongside industries setting up operations, will boost economic growth. The MoUs were signed as part of Haryana's Make in Haryana Industrial Policy 2026. These investments will create over 33,250 jobs across various sectors. Reliance MET City continues to facilitate this development.
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Hindware Home Innovation approves investment up to Rs 15 cr in Hintastica
INDIA MARKET | Wed, 3 Jun 2026, 4:16PM IST
At board meeting held on 03 June 2026
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Rupee falls 31 paise to close at 95.67 against US dollar
INDIA MARKET | Wed, 3 Jun 2026, 4:16PM IST
The rupee depreciated by 31 paise to 95.67 against the US dollar on Wednesday, influenced by proposed US additional duties on Indian imports due to labor violations. Strong dollar demand, rising crude oil prices, geopolitical tensions, and foreign capital outflows further weakened investor sentiment.
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Rs 10,000 Crore Buffer: Govt Unveils ATF Price Stabilisation Fund
INDIA MARKET | Wed, 3 Jun 2026, 4:15PM IST
The government said the stabilisation fund would help protect employment, prevent disruptions in airline operations, and shield passengers from fare shocks.
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Govt Rolls Out Rs 10,000 Crore Fund For Aviation Sector As ATF Costs Rise
INDIA MARKET | Wed, 3 Jun 2026, 4:12PM IST
Last month, ATF prices for domestic airlines were raised by Rs 8,289.04 per kilolitre.
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1h
No More Jet Fuel Shocks? Inside The Rs 10,000 Crore Safety Net For Indian Airlines
INDIA MARKET | Wed, 3 Jun 2026, 4:11PM IST
International ATF prices have surged nearly 2.5 times in recent months, rising from Rs 60.5 per litre in March 2026 to Rs 142 per litre in May 2026.
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INDIA MARKET | Wed, 3 Jun 2026, 4:09PM IST
The Samsung Galaxy Z Fold 8 Ultra has been spotted on a certification website and its specs tipped.
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Govt Caps ATF Prices At Rs 75.6/Litre For Domestic Operations
INDIA MARKET | Wed, 3 Jun 2026, 4:08PM IST
The price surge has adversely affected airlines and oil marketing companies.
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Asia's industrial supercycle is outpacing the West Asia oil shock: Chetan Ahya, Morgan Stanley
INDIA MARKET | Wed, 3 Jun 2026, 4:08PM IST
A China-driven supply realignment, cutting gas imports by 45% and oil by 30%, has effectively added 7.5 million barrels daily to global markets, neutralising energy price fears. Morgan Stanley's Chetan Ahya argues a broad-based capex boom across AI, energy, defence, and industrial sectors is powering Asian growth, while urging India to slash foreign investor taxes to stem capital outflows.
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GST ruling may cast wider tax net over casinos
INDIA NEWS | Wed, 3 Jun 2026, 4:08PM IST
The recent Supreme Court (SC) judgment on online gaming and betting is expected to have wider implications across gambling, horse racing, and casinos, experts feel. The court clarified that the GST valuation framework is not confined to any one segment but applies across betting and gambling activities.The ruling makes it clear that the tax framework cannot be read narrowly. Rule 31A applies broadly to all betting, gambling and horse racing Limiting its applicability only to horse racing would render parts of the rule otiose, a PwC India note on the SC ruling said.Nitin Vijaivergia, partner at Pricewaterhouse & Co LLP, said the judgment upholds the imposition of the top GST slab on online gaming platforms, triggering significant retrospective tax exposure. The courts reasoning also centres on how such transactions are structured. It has been clarified that in betting and gambling, valuation can be based on the full amount staked and not merely on a narrower measure.Section 15(1) permits valuation based on the entire stake, and merely because a different method of valuation may also have been possible, it does not render the Rule unconstitutional, the note added.For online gaming and casinos, the judgment clarifies when tax liability arises. The court held that the taxable event is triggered when players commit funds to participate in games with uncertain outcomes and no longer retain control over those funds.This also alters the treatment of player funds. The ruling notes that once amounts are committed for participation, such arrangements cannot be considered deposits or entrustments, and the entire staked amount is treated as consideration for the supply.In the case of casinos, the position is very clear. The court held that tax would be levied on each instance of staking money on an uncertain outcome, and not on the operators net earnings or gross gaming revenue.The mention of staking money on uncertain future outcomes may have broader implications for promotional and skill contests with deterministic scoring, and similar other formats. Key operational elements such as wallet architecture, re-deposits, and cashback will be crucial to determine tax demands, especially considering amendments to GST Rules 31 and 31B affecting valuation, Vijaivergia said.Tax experts say that, broadly, the GST law will now apply where money or moneys worth is staked on uncertain outcomes, and such amounts are treated as consideration for the supply.
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Tyre exports at record high of Rs 27,312 cr in FY26 despite supply chain disruptions
INDIA BUSINESS | Wed, 3 Jun 2026, 4:06PM IST
Indian tyre exports reached a record Rs 27,312 crore in FY2025-26. The United States remained the top destination. Despite global supply chain issues, the industry saw significant growth. Recent US tariff adjustments provided relief to Indian exporters. Germany, Italy, Brazil, and France were also key markets. The tyre sector's resilience is evident with substantial investments in manufacturing.
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Unexpected money in your account? SBI warns of 'jumped deposit scam'
INDIA BUSINESS | Wed, 3 Jun 2026, 4:05PM IST
Scammers are sending small deposits first, then pushing victims to approve larger transactions
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1h
England vs New Zealand: Schedule, NZ vs ENG Live Telecast, Streaming Details, Squads And More
INDIA MARKET | Wed, 3 Jun 2026, 4:05PM IST
England will host New Zealand in a three-Test series starting June 4 as part of the ICC World Test Championship 2025-27 at Lords, The Oval, and Trent Bridge.
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1h
Hexaware Technologies inks strategic collaboration with HBSUK
INDIA MARKET | Wed, 3 Jun 2026, 4:04PM IST
Hexaware Technologies announced a strategic collaboration with UK-based healthcare services provider HBSUK to enhance the latter's workforce management proposition.
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Barometers end with deep cuts; Nifty settles below 23,450 mark
INDIA MARKET | Wed, 3 Jun 2026, 4:04PM IST
As per provisional closing data, the barometer index, the S&P BSE Sensex declined 303.67 points or 0.41% to 74,346.17. The Nifty 50 index slipped 77.95 points or 0.33% to 23,405.60.
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Aishwarya Rai Bachchan roped in as global brand ambassador for JW Marriott
INDIA BUSINESS | Wed, 3 Jun 2026, 4:03PM IST
JW Marriott has named Aishwarya Rai Bachchan its global brand ambassador. This partnership aims to connect with new luxury travelers. Bachchan will feature in international campaigns across various platforms. She will also participate in curated brand experiences in India and globally. This move highlights JW Marriott's commitment to India and its growing presence.
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