The Welt am Sonntag weekly reported that Russia's sanctions against Gazprom Germania and its subsidiaries may lead to German taxpayers and gas users paying an additional 5 billion euros ($5.4 billion) a year for replacement gas. In May, Russia decided to suspend delivering gas to Gazprom Germania-- the German subsidiary of Gazprom.

China's services activity in May declined for a third straight month despite easing some COVID lockdowns in Shanghai and neighbouring cities, indicating a slow recovery. The Caixin services purchasing managers' index (PMI) increased to 41.4 in May from 36.2 in April, showing a slight recovery in the financial city of Shanghai after authorities began to roll back some of the strict restrictions.

👉 SGX Nifty declined by 0.55 to 16,498 points as of 7:15 am. 👉 Asia shares also fell on the possibility of the Fed Reserve maintaining an assertive stance on inflation. 👉 Crude oil surpassed $120 a barrel as shortage worries continue. 👉 Adani Transmission decided to acquire Essar's Mahan-Sipat transmission project for Rs 1,913 crore. 👉 INR closed at Rs 77.63 against the USD on Friday.

Crude oil prices surged over $2 during Monday's morning deals after Saudi Arabia sharply increased rates for its crude sales in July. The move signals the continuation of tight supply even after OPEC+ agreed to improve its output during the upcoming two months. Brent crude futures increased by $1.80, or 1.5%, at $121.52 a barrel at 2319 GMT after touching an intraday high of $121.95.

Around ten companies are expected to announce their Q4'FY22 results today (June 6, 2022). A few of the important ones include ✅ Urja Global Ltd ✅ Cinevista Ltd ✅ Virtual Global Education Ltd How will the market react today? Stay tuned for more updates from FlipitMoney!

RBI data showed Bank credit deployed in the infrastructure segment rose 10.2% year-on-year in April 2022. The outstanding credit to this space till March 2022 was Rs 12 trillion. Large conglomerates have been noted as the bearer of these demands in the infra segments like roads, ports, airports, renewable energy, data centres and gas pipelines. Banks are also gearing up to meet the demand.

The National Payments Corporation of India (NPCI) is likely to extend the Jan 2023 deadline for its contentious mandate requiring payment apps to hold no more than 30% market share. The third-party payment providers such as PhonePe and Google Pay still hold about 47% and 34% market share, respectively, as of April this year, therefore, NPCI fears market disruption for consumers at this time.

Indiabulls Housing Finance developed a base near Rs 105-120 levels (consolidation range) and has bounced from Rs 105 levels twice. At present, the scrip is well placed above its 20 and 50 days simple moving average. The move supports positive bias on short term charts. In this situation, analysts recommend investors should buy, hold and accumulate this stock with an expected upside of Rs 145-150.

The Employees' Provident Fund Organisation (EPFO) is considering a proposal to raise its investment limit in equities. According to the sources, the incremental flows from the existing 15% will be raised to 25%. This proposed 25% equity investment of daily inflows will be raised in two phases, first to 20% and then to 25% in the second phase.

An Australian court directed Google to pay A$715,000 ($515,000) to a former politician on Monday after noticing that a YouTube commentator's "relentless, racist, vilificatory, abusive and defamatory campaign" forced him to quit politics prematurely. Notably, Google's content-sharing website YouTube earned a huge amount of dollars by hosting two videos attacking the mentioned politician.

Nomura Singapore bought 1,50,000 shares in Veeram Securities, which emerged as one of the multibagger penny stocks on the BSE and surged about 120% in the previous year. In the last month, the scrip has surged from ₹15.80 to ₹22.85 apiece levels, logging around 45% growth in this period. Nomura Singapore is an international financial services firm that has a presence across 30 countries.

Billionaire investor Prem Watsa often described as Canada's Warren Buffet is planning to invest $7 billion in India over the next five years. He believes the country is in an "impressive" phase with the goal of 10% economic growth in front of it. Wats already holds a diverse portfolio of investments in India worth $7 billion including insurance, banking, chemicals, fintech, travel and shipping.

Dow Jones futures improved marginally on Sunday evening, along with S&P 500 futures and Nasdaq futures. The key indices retreated modestly in the previous week but retained crucial levels even as Federal Reserve policymakers suggested a possibility of huge rate hikes. Dow Jones futures rose by 0.2% against the fair value. S&P 500 futures gained 0.2%, while Nasdaq 100 futures improved by 0.3%.

JSW Steel Joint MD & Group CFO Seshagiri Rao opined that the fate of JSW Steel's businesses in Italy largely depends on orders from Italian railway authorities. If the steel manufacturer fails to attain it will look at other alternatives. Notably, JSW Italy has previously secured rail orders to the tune of approximately 40,000 metric tonnes from two contracts by Rete Ferroviaria Italiana (Rfi).

Technical and derivatives analysts projected that the Nifty has a good possibility of hitting 16,800 levels after surpassing a crucial hurdle of 16,400 last week. The Index surged 1.5% last week to close at 16,584.30. This week, investors are closely following the RBI monetary policy and US inflation data. Analysts further stated the Nifty may even hit 17,000-17,200 if it sustains above 16,800.