▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
📊 *ECONOMY & POLICY*
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
🏦 *RBI MPC Begins — Hold Expected, Tone Turns Hawkish*
The RBI’s Monetary Policy Committee convenes today (Jun 3–5) under Governor Sanjay Malhotra, with the rate decision due Friday morning.
Markets expect the repo rate to hold at 5.25%, but with a more defensive tone as rising crude prices and rupee depreciation threaten to push inflation higher.
📎 _Read: Business Standard_
🏦 *RBI Sold ~$12bn in Gold to Protect Forex Reserves*
Bloomberg Economics estimates the RBI offloaded around $12 billion in gold reserves in the two weeks through May 22 to defend its liquid FX buffer amid capital outflows and oil-driven rupee stress.
The move signals the central bank is prioritising FX stability — and sets a cautious backdrop heading into Friday’s policy announcement.
📎 _Read: Economic Times_
https://economictimes.indiatimes.com/news/economy
🤝 *India–US Trade Deal in Final Stretch — Talks Ongoing This Week*
A US delegation is in India from June 1–4 to finalise the remaining clauses of the Bilateral Trade Agreement, covering market access, tariffs, AI, chips, and economic security.
India’s effective US tariff exposure has already been cut from ~50% to 18% under the interim framework; a final deal could be signed within weeks, unlocking FDI and sector tailwinds across pharma, tech, and manufacturing.
📎 _Read: BusinessToday_
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
🏢 *COMPANIES*
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
💻 *IT Stocks Rally to 6-Week High on AI Deals*
Indian IT stocks surged Monday, lifting the Nifty IT index to its highest level since April 23, driven by fresh AI partnership announcements and improved valuations after months of underperformance.
Infosys, Tech Mahindra, and peers drew renewed institutional interest — though near-term AI revenue pressure of 1–3% remains a live debate heading into the next results season.
📎 _Read: Economic Times_
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
🌍 *GLOBAL & WORLD*
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
📈 *S&P 500 and Nasdaq Hit Record Highs — AI Rally, Iran Hopes*
US stocks closed at fresh all-time highs Monday as Nvidia unveiled a new AI laptop chip and Trump signalled Israel–Hezbollah had agreed to stop fighting.
Asian markets eased from those highs on Tuesday as ceasefire signals turned mixed — tempering Indian equity pre-market cues this morning.
📎 _Read: NDTV Profit_
💡 *Alphabet Raises $80bn in Equity for AI Spending*
Google parent Alphabet is undertaking a rare $80 billion equity raise to fund its accelerating AI infrastructure build-out — a signal of the scale of the global AI capex supercycle.
BofA’s Candace Browning has noted that once this AI capex wave peaks, it could revive global investor flows back toward India as a relative value opportunity.
📎 _Read: NDTV Profit_
https://www.ndtvprofit.com/markets/alphabet-to-raise-80-billion-in-equity-for-ai-spending-11578205
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
_Compiled by Daily Business Briefs · 3 Jun 2026_