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June 7: Here's what you should know before the opening bell

June 7: Here's what you should know before the opening bell

June 7: Here's what you should know before the opening bell
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By CNBC-TV18 Jun 7, 2018 8:54:10 AM IST (Updated)

The Indian market on Wednesday closed at the day’s high after a volatile session of trade.

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Stocks saw a fall in an immediate reaction to RBI's 25 basis point rate hike, but stabilised later to close with major gains.
The late surge helped the market snap a three-day losing streak with the Sensex gaining 276 points to 35,179 and the Nifty surging 91 points to 10,685.
Here's what you should know before the opening bell
  • The Reserve Bank of India has raised the repo rate, the rate at which the bank lends money to commercial banks, by 25 basis points to 6.25%.  The central bank also raised the reverse-repo rate by 25 basis points to 6%.
  • Record exports sent the US trade deficit to its lowest level in seven months in April while Americans imported fewer goods from China, government data showed today.
  • The US dollar ended cheaper against the rupee at Rs 66.92 per dollar on Wednesday but the pound sterling finished higher at Rs 89.84 at the close of the Interbank Foreign Exchange (forex) market.
  • Gold prices edged higher on Thursday, supported by a weaker dollar amid ongoing concerns about a trade war between the United States and its allies.
  • The kharif planting season has started in the country, but there is no clarity from the government as far as the new minimum support price (MSP) regime is concerned.
  • France, Germany and Britain are asking the United States to exempt European companies from sanctions on Iran.
  • The European Union expects to hit US imports with additional duties from July, ratcheting up a transatlantic trade conflict after Washington imposed its own tariffs on incoming EU steel and aluminium.
  • Mining giant Vedanta faces a potential revenue loss to the tune of $210 million per month due to the closing of operations at its smelter unit at Tuticorin, a top company official said.
  • Oil prices fell on Wednesday on worries that global supply is climbing after US inventories rose unexpectedly and Saudi Arabia and other big producers signalled that they may increase output.
  • The President approved the promulgation of the IBC amendment ordinance, 2018.
  • The fuel prices were cut for the ninth consecutive day. The petrol prices in Mumbai were further cut by 9 paise to Rs 85.45 per litre, a total of 79 paise cut in the last nine days. The diesel price in Mumbai has been cut by 8 paise to Rs 73.17 per litre in Mumbai, a total of 62 paise cut since May 29.
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