nifty, the son sex -- the nifty rallying to a record highs.tarted off on the front foot on stock futures on the nifty 50 rising .5%, but it has erased a fair bit of that, slipping about 7/10 of a percent. there seems to be a sense of how election trends emerging, potentially prompt -- prompting profit-taking. the sectors we will keep a close watch on as the equity markets open in about 15 minutes from now, are the infrastructure related stocks and the ones in the adani group. those are the ones that really outperform yesterday. but we are also seeing the reaction in the rupee. remember, flip the board. we saw the second-best performing currency in the asia-pacific yesterday trailing behind the korean won and anna-lysa pointed out jp morgan bond index inclusion was coming out later this month as well as lower oil prices. these are all factors that should lead to rupee appreciation. we see the gains from yesterday coming off. dollar rupee trading to a350 handle. there are concerns about the direction of the currency as we have the rbi decision d

you talk about the nifty index down 4%.than 3%, which was the highest at about three years. it has given up more than a gains yesterday. tom: indeed, the markets clearly had not priced in this result. the result not rounded out as you made clear. six point collection, 640 million or so votes as they all have their own idiosyncratic stories, which states are on your radar going forward? haslinda: there are basically four states we are looking at, modi's own home state, this is where he and his allies won all 2060 seats up for grabs. the most popular state here, 80 seats up for grabs if you want to win the election, you have to win this. the last election in 2019 we had the bjp and its allies winning 62. we are also keeping a watch on where mumbai is. you know mumbai is the financial capital of india. the thing is, with mumbai, the traditional alliances have fallen through, so it is pretty much up for grabs, and the southern states. the likes of -- they have traditionally voted for the opposition. let's see if the messaging t

the sensex looking flat, nifty also flat. around this incoming government is, well, who is going to be in the cabinet? we don't know yet. we don't know who the finance minister is going to be and there is a budget coming up. that might explain some of the uncertainty. let's have a look at how adani stocks are tracking because the infrastructure story has been huge in india under the modi government. adani enterprises off by one half of 1%. homebuilding, residential, that's a space we are going to be watching in india closely as well. the request of some of those coalition partners also to do a little more for those in india living in poverty. there are still 800 million in india that live on $10 a day or less. we are counting down to the reserve bank of india rate decision as well. that's going to becoming up in the next hour. the rbi is why the expected to keep rates on hold for eight meetings in a row. bloomberg economics says the central bank is going to hold to avoid triggering any capital outflows. the rbi may send the s

with that in mind, i want to show you how the nifty 50 is trading at this stage.own by 4.4% earlier in the session, it was down as much as 8% and all in all, we are seeing one of the worst sessions for the nifty 50 in four years. some significant losses here i'm pleased to say tambir gill is here with us. how much is driven by potentially not seeing pro-business reforms happening in the future? >> reporter: silvia, firstly, thanks for having me on the show i think there is just widespread disappointment especially among investors. you have to remember in the run-up to the election at the start of the year, there was a major speculation on the results that happened in december that they would be a major modi wave in the general election that gripped the country. from that standpoint, the expectation was that modi would comeback bfor a third permterm d that might still be the case if he gets a simple majority with his allies, that might still be the case here is the important story that i want to highlight to your viewers in europe. modi's party is struggling at thi

on wednesday, both the key benchmark indices, the sensex and nifty, recovered some bit, but investorsg the changed political landscape and the health of the coalition government that comes to power. so while mr modi, under whose tenure the benchmark indices have almost tripled in value, is on course to get the historic third term as prime minister, this one will be much different without a clear majority. mr modi, as prime minister, will need consensus from the coalition partners to pass legislation and that could delay some of the tougher ones, like the long pending agricultural reforms or the land and labour reforms needed to spur manufacturing and jobs. infrastructure that has been the core selling point of modi, government experts say, will continue to be key. india does need to ramp up electrification, railways, industrial corridors. butjust government spending won't help. private investments in infrastructure needs to come in. needs to come in for india to sustain its fast paced economic growth in the long run. at the same time, in his third term, mr modi will need to actively t

what market reaction right now. >> in fact, as i am seeing the nifty index up almost 3.6%. massive rally we're talking about. the markets during the fact that prime minister narendra modi's third term means we will see more roads, railways, airports, seaports. more focus on bringing companies into india. and a greater push towards some of the low hanging reforms we have seen. look at the bond market reaction. the fact that rupee is at the highest levels in almost a year. it is thumbs up across the board. one has to wait and watch out for what will come tomorrow. tomorrow, we will have the results. haslinda: the reality coming tomorrow. that's when the vote count is official. that is it from "bloomberg markets asia." keep it here with us. this is bloomberg. ♪ ♪ [suspenseful music] trains. [whoosh] ♪ trains that sense what isn't on the schedule. ♪ trains that use the power of dell ai and intel. ♪ to see hundreds of miles of tracks. ♪ [vroom] [train horn] [buzz] clearing the way, [whoosh] so you arrive exactly where you belong. there were two guys. [car unlocking and door open

on wednesday, both the key benchmark indices, the sensex and nifty, recovered some bit, but investorsthe changed political landscape and the health of the coalition government that comes to power. so while mr modi, under whose tenure the benchmark indices have almost tripled in value, is on course to get the historic third term as prime minister, this one will be much different without a clear majority. without a clear majority mr modi, as prime minister, will need consensus from the coalition partners to pass legislation and that could delay some of the tougher ones, like the long pending agricultural reforms or the land and labour reforms needed to spur manufacturing and jobs. infrastructure that has been the core selling point of modi, government experts say, will continue to be key. india does need to ramp up electrification, railways, industrial corridors. butjust government spending won't help. private investments in infrastructure needs to come in. for india to sustain its fast paced economic growth in the long run. at the same time, in his third term, mr modi will need to acti

on wednesday, both the key benchmark indices, the sensex and nifty, recovered some bit, but investorsanged political landscape and the health of the coalition government that comes to power. so while mr modi, under whose tenure the benchmark indices have almost tripled in value, is on course to get the historic third term as prime minister, this one will be much different without a clear majority. mr modi, as prime minister, will need consensus from the coalition partners to pass legislation and that could delay some of the tougher ones, like the long pending agricultural reforms or the land and labour reforms needed to spur manufacturing and jobs. infrastructure that has been the core selling point of modi, government experts say, will continue to be key. india does need to ramp up electrification, railways, industrial corridors. butjust government spending won't help. private investments in infrastructure needs to come in. for india to sustain its fast paced economic growth in the long run. at the same time, in his third term, mr. in his third term, mr modi will need to actively tac

the nifty is down 50 points.een the biggest rally is the government-owned companies and defense companies. all of them are big losers in today's session. losing 15% to 20%. the cumulative loss is 25 to 30. in dollars, it would be a couple hundred billion dollars that have been eroded from the indian market cap. adani with the declines, too. toward the end, the only gainers are the consumer stocks. the belief is which ever government comes to power will be giving out a lot of boost to consumption. back to you, frank. >> thank you very much for that. >>> coming up here on "worldwide exchange," the one word that every investor needs to know today, plus the renewed gamestop frenzy is set to continue today as the platform of roaring kitty is looking to pull the plug. former s.e.c. chair jay clayton is here with the wriores around the potential market manipulation. stay with us. >>> welcome back to "worldwide exchange." the word of the day to kickoff june trading should have been volatility. there was plenty to go arou

nifty 56%. the worry for investors is really about how modi might make it more difficult for him to push through these politically difficult reforms that some see as absolutely necessary in order for india to keep up its pace of growth. for now, investors seem to be looking past that little, given how they are recovering on the nifty. we have the likes of goldman's saying earnings growth is still strong in india. the growth story in the country is still intact. we get a clear idea of the trading translator in the hour when the markets open. but for now, i wanted to flip the board and show you the extent of the damage because it was the worst day in four years for india markets in terms of the daily route, and in terms of market cap loss, $390 billion wiped out, worst on record. for context we did see 100 billion -- 190 billion market cap rise the day before. this is what we see in terms of the damage to flip the board i want to show you the levels we are watching for the msci india in this year

a bit of a recovery in the nifty, 6% decline, yields climbing, slight recovery.oldman seeing earnings growth, that seems intact for india. that does not seem to be reflected when we look at assets in the country today. tom: avril in india, thank you. bodie vowing to stay on as prime minister. we could not believe that. after his party lost its majority in a stunning upset. >> today's victory is the victory of the world's largest democracy, unbreakable allegiance in the constitution. in our third term, this country will see a new chapter of decisions. tom: joining me is bloomberg's southeast correspondent haslinda across the story from the outset. we stunning blow to his policy agenda. haslinda: you are right. the people saying no to status quo, yes to change. this is how the night felt. modi's party garnered 242 seats. it has the largest number of seats, but it did not get the majority it needed. he will have to lower the party alliances in his coalition. they are kind of flip-flopping. the parties joined the alliance several weeks ago so we're unsure if you will

. >> we have seen the nifty future. we have seen them recover from what happened last week.oes that mean volatilities come down as well? does that mean the investor certainly still believes even postelection that the reform agenda, the growth agenda remains very much intact russian mark >> i think the volatility we were going to see postelection's in india, we did see that two weeks ago on the tuesday after election results started come in. i think the investors have realized on the market has realized and the governing coalitions have a short the investor community that india has it as business as usual. the direction -- that is pretty clear. we are not going back. some reforms might take longer. some reforms might be exhilarated depending on the sector. defense spending might be curtailed a little bit. the recovery in the sector and the share prices -- the spending for some of the consumers -- sectors facing rural consumers would be exhilarated. we will see. generally it's on a good path. there are a lot of themes that investors can invest in know that even two or three ye

he's taken the internet by storm after displaying these nifty football skills that were captured on a talking aboutjude bellingham a few moments ago but it is all about scott whitehouse on his driveway. stay with us here on bbc news. hello there. there's a lot of dry weather to come this weekend and it's all down to an area of high pressure that's to the west of the uk, closest to the high pressure today. we'll see the best of the sunshine across parts of scotland, although southwest england's also enjoying some sunny skies, almost cloud—free skies then in stirling earlier in the day. but we have seen quite a bit of cloud come down the north sea into parts of eastern england. but even so, there are still some breaks in the cloud, for example, here in essex. now, looking at the weather across east anglia, and southeast england, as well as that cloud, we have some fairly brisk winds, gusts running into the 30s of miles an hour. thatjust knocks the edge off the temperatures to a degree. but still some decent weather to come for the most of the uk. sunny spells in northern ireland, lots o

he's taken the internet by storm after displaying these nifty football skills that were captured on athat! why would he ever doubt himself because mike what a legend, talent! scott of whitehouse from derbyshire. lots more on our website but from me and the team here on bbc news, thanks very much. hello again. it's been a fine start to the weekend so far. today, of course, is the 1st ofjune, the start of meteorological summer, and the weekend will see some summer—like weather for many of us. it's been a lovely start here in somerset — from one of our weather watchers with some blue skies. there is some patchy cloud floating around out there and it will continue to do so into the afternoon. the possibility of one or two showers around parts of aberdeenshire, perhaps northern england and across wales, but those will be really very isolated. for most, staying dry. bit of a northerly wind there still across the eastern coast of england, making it feel a bit on the cool side at times. temperatures 15 or 16 celsius. highest temperatures to be found in the west with highs of 19, 20, even 21 c

he's taken the internet by storm after displaying these nifty football skills that were captured on awe see the end? hello. in weather and climate terms, the beginning ofjune marks the start of summer and the weather is going to feel fairly summer—like this weekend. it will be dry for most of us, warm in the sunshine, but the nights will still be quite chilly. and saturday getting off to a rather chilly start. these are the temperatures in the towns and cities, out in the countryside some spots a little bit colder than that. but after that chilly start, most places will see some spells of sunshine. any early mist will clear, this area of cloud across east anglia and the southeast, that should tend to break up to give some spells of sunshine. but then we've got this zone of cloud pushing out of southern scotland into northern england, affecting parts of northern ireland, north wales, the north midlands — maybe producing the odd shower and temperatures for some northern and eastern coasts, around ia, 15, 16 degrees in shelter, southern and western parts, highs of 20 or 21 degrees. now t

thank you very much indeed as we look at the nifty 50. up almost 3%. there is one more coming up.y with us. is bloomberg. ♪ >> what puzzled me is why japan is so worried about the following in. it is not as if -- yes that does her consumer prices some but japan as we said has been a country that has long had a problem with convincingly exiting deflation and a week again giving it a bit of a lag, that is actually positive for japanese goods and services. the thing i find puzzling is why the weaker yen is showing as much panic as they used to. >> empathy was much room in the japanese economy for significant interest rate hikes. considering that decline against the dollar, they compelled to the doj to height by october at the latest. >> another hike by october. not much room for the doj to height. paul krugman saying he is not so sure why they are so concerned about the end. they are concerned and this has all been happening since the end of april through to may. $62 billion have been spent to proper the currency. that is the most in terms of the interventions that have come through.

the nifty is trading only at a 4% premium.you look at india's growth relative to that, both in terms of macro and corporate earnings remains comfortable. when you look at risk-reward, it still seems to be in your favor. be cautious with small caps. the debate has been going on for a while. that's something we believe is here to stay. now that the elections are behind us, the focus will be policy continuity. the budget that will possibly be there in july will set the tone going forward. >> right. risk reward. in terms of sectors, what would they be? infrastructure, manufacturing? >> absolutely. if you look at the policy initiatives, the focus has been investment led growth. i think that continues. one also has to realize that when you look at consumption, that's been growing below trend, specifically mass consumption. the government does have room on the revenue side. to focus a little bit in terms of improving the consumption structure. so that will be one area to watch out for. we believe there are a few sectors that we spoke

. >> laura: this is what the nifty newcomers in paris did after eu v voters delivered a rebuke to pro-refugee>> laura: the "wall street journal" called the parliament election results blow to french and german. stunning defeat of macron and macron left with no choice. >> i'm dissolving the national assembly this evening. >> laura: that sent parties scrambling. whatever happens, the anti-macron sentiment is real. are there similarities to our own upcoming election? more are rejected expensive climate regulation and obscenely high cost of living. douglas murray, "new york post" columnist and fox news contributor. douglas, the bbc, other, you no he, regime media types describe this as disturbing, extreme, or far right victories. what are they not getting here? >> well, several things. one is that media like the bbc have spent years calling all of these parties that have won in the most recent elections eu far right. in fact, they tend to call absolutely everybody slightly to the right of the most green leftist party far right. and now, i mean, the term is losing all meaning across the continent.

it is almost like the nifty 50.ravitating to their more expensive than some of these tech names. lisa: are you going into those names too or are you steering clear because of concentration risk and the idea one of them could sink and that could be problematic? mike: we are with everybody else because it is a momentum market. where we are different is we are saying this is not stable. it is fragile. you have to understand that -- you need to be leaning in that direction understanding you will move around in the short term. if there is a shock, and once again the third door is the biggest shock to the nifty 50 names. a growth scare/recession concern is the one that will take them all down together. that is not a risk today but the one we are up -- we are looking at -- dani: as you're talking about these different lifeboats, i am reminded of a conversation i had with kkr about public markets have been shrinking. since 1995, there are 40% less. is there some degree whether or less lifeboats because there are less compan

. >>> and india's nifty fifty stages are looking. they prepare to meet with allies, all aiming to form a new coalition government. >>> intel rises premarket. that's after selling a 49% stake in an irish venture, all in a bid to bring in funds to bring it back in fashion. he plans to outline his plans. >> the first piece is to get back to leadership. all of it is associated with unprocessed technologies. the processed technologies aren't as good as some of the alter alternative. >>> so while we are indeed headed toward that ecb decision on whethermadam lagarde and the ecb will cut rates or not, the anticipation being they would cut by 25 basis poimtss, the trajectory is what else happens after that. the uk is another matchup. the bank of england is looking to try and cut rates at some point this year, wanting to do so to try to alleviate any pressure that has enabled itself to get out of the recession. it has been can they do enough. does the data allow. because they've also been very d data-dependent. this is what you're seeing in th

the nifty 50 was volatile in reaction to the election result. it has stabilized since then.his is another session suggesting that stabilization is happening for the friday trade up close to 1%. you see the numbers for the week. take into account on the back of the election, it is up 3%. let's discuss what is next for the india business pibltcture a energy. thank you very much for joining us. it was a fascinating election. i think the outcome of the much smaller than expected majority for modi's team and having now to rely on coalition partners to form a government. what does this mean for a business sector? it feels it is a hiccup with the renewable goals. weigh in on the outcome. >> thank you, cane. the election results have been a little bit of a surprise for sure. that's also partly because the exit polls a couple of days before the counting actually happened gave a very different picture. that threw the market off. having said that, i think it is important to keep in mind this is the first time in the last 60 or 65 years that we had the same government come back into pow

this particular market which is trading close to record highs since x pretty unchanged and we have the niftyn the positive one we may be watching today is done a group doubling capital spending accelerating existence -- investments in green energy and yet another side they have the fallout from the damaging report behind it and the indian ruby 8340 three pretty unchanged versus the usd and the bank of india governors says that the nation's growth momentum is very strong. he said the rbi was confident in the growth projections for the year and that models suggest even stronger momentum ahead and added it is essential to keep inflation in check. >> i mean each and every word of it. india is on the threshold of a major structural shift in the growth trajectory, moving towards 8% gdp growth in a sustained manner. >> let's get reaction from our next guest who has over 16 years of experience in fund management and credit. good to have you with us. esa stand number two 8%. >> are b.i. in the last meeting had revised the gdp forecast and i clearly see there is an upward to that number so all the con

i think we are in an environment similar to the '70s with the nifty fifty is the only game in the marketyou have to own mcdonald's and american express and disney. just like now, you have to own them. they are trading at lofty multiples. 5% weight in the index is vnvida today. i have a market weight in nvidia. i don't like massive stock specific risk. it's an incredible company trading at 43 times growth earnings. >> that is a fair argument. pretty rich valuation. again, big holding for you. it is the poster child. it is a nuanced position. we will talk about dividending l dividends later in the show. how important are dividends? how do you marry the two of the stocks to put in your portfolio? >> dividends are one component we look at. the share buyback to me is just as attractive as the dividend. boards stick with the dividends where they stop the buybacks. cash flow and ebitda earnings and more at the fringe are a nice cash flow you can count on. it is not the driver of what we look for. >> patrick armstrong, thank you very much. for more on the trading day ahead, go to cnbc pro for in

predicted biden won't be on the ticket in november, adding, he never thought biden's campaign was a niftyeven biden himself showed self- awareness about his performance yesterday. >> i don't speak as smoothly as i used to. i don't debate as well as i used to, but i know what i do know. i know how to tell the truth. >> there is clearly a divide among democrats when it comes to how to proceed. the fact these honest discussions or even happening, a willingness to debate, is crucial to a functioning democracy. the response to thursday's debate, believe it or not, is healthy. contrast that with what we are seeing from the trump camp. the former president gave an abysmal performance, with ■ça l after lie. whether it was refusing to commit to accepting election results, spending falsehoods about immigrants. trump was on full display for the world to see, but no one on the right was willing to call him out. if anything they went overboard trying to praise him with michael watley calling trump's performance, quote, dominant. after all, there is no room in the gop for division or debate. you swear

lawyer this is what the nifty new comessers in pairs did after eu voters delivered a stinging rebukefugee globalists. the e. called the results it a blow to the french and german governments. described as a stunning defeat of macron and schultz and french president emmanuel macron was left with really no good opt options. i have decided to give you back the right of parliamentary future through a vote. >> laura: that announcement sent parties scrambling. it's complicated over there an the anti-macron sentiment is real. what does this tell us, if anything. are there any similarities to our own upcoming election? more voters are rejecting forced multi-culturalism over there and expensive climate regulations and, of course, the obscenely high cost of living. joining us now for some insight, douglas murray, "new york post" columnist and fox news contributor. douglas, the bbc, other, you no he, regime media types describe this as disturbing, extreme, or far right victories. what are they not getting here? >> well, several things. one is that media like the bbc have spent years calling all

save 50% on this complete assortment and i know you have a nifty you want to buy these for?best friend's daughter. i'm thinking collecting all of these for it's a brilliant gift idea to save on these products. to sleep better. you can scan the qr code or head now to abc secret sales.com to get shopping. all right, we have more news still ahead here at four 3430 documents from the supreme court related to an upcoming abortion case briefly leaked online. >> what those documents tell us about how the justices may rule. >> plus, joe biden and donald trump get ready for the first presidential debate of 2024, what we can expect. >> and then the pride festivities are ramping up in san francisco, with the event held just a short time ago and the summit getting under when your child has moderate-to-severe eczema, it's okay to for them to show off. show off their clearer skin and noticeably less itch with dupixent. because children 6 months and older with eczema have plenty of reasons to show off their skin. with dupixent, the #1 prescribed biologic by dermatologists and allergists, t

i read a nifty article about a terrific orange grower in florida.t ten shares for nine bucks. frost tip, wiped out the crop and my investment was cut in half. like the plot of trading places. what can i say. pretty similar. i was devastated but not defeated. i sold it out, took the capital and bought bob by brooks. almost immediately, reported my quarter. i had a decent job at a magazine, making 20 gs, and a studio. cheap $40 a month rent allowed me to replenish my stock pretty quickly. i was on the road quite a bit back then. after a hard night on the town researching a story in kentucky, i fell in love with the breakfast at bob evans farm. finding out it was publicly traded, i visited the manhattan public library and devowed everything about bob evans. write ups that allowed me to compare bob evans with other companies in the industry which is what you have to do. i knew i had a good one. i bought 20 shares. stock went up immediately, a good quarter, and i found out the first part of investing. women's fashion, certainly not me, but a good play is

. >> but if you look at history, you can see there are times where you got to peak concentration, nifty0 in the late '60s. in the 2000s, in the tech bubble. and of course, that caused major leadership rotations, where you had big weakness within those growth concentrated names but big strength in value and cyclicals. we think it's way too early to make that call, but when it happens, you can see some big, huge tectonic shifts. >> that was fun. cameron, thanks for being here. tom lee, thanks to you as well, and steve kovach, i look forward to seeing you in cupertino. do not miss our coverage of wwdc. you can tune in to "halftime report" and "closing bell" on monday. we'll be there. mr. covkovach will be there. this is going to be a big deal. >>> um next, the schwab playbook senior investment strategist kevin gordon is back. find out why he says it's time to take profits in some of those high flyers. he joins us next. complexity. healthcare payments are filled with it. wasted time, inadequate resources. confusion about the cost of care and how to afford it. it's time to simplify. waystar'

he's taken the internet by storm after displaying these nifty football skills that were captured on alutely magic. and in it goes. you can tell i am not a football commentator but you get the drift. thank you for watching bbc news. hello. in weather and climate terms, the beginning ofjune marks the start of summer and the weather is going to feel fairly summer—like this weekend. it will be dry for most of us, warm in the sunshine, but the nights will still be quite chilly. and saturday getting off to a rather chilly start. these are the temperatures in the towns and cities, out in the countryside some spots a little bit colder than that. but after that chilly start, most places will see some spells of sunshine. any early mist will clear, this area of cloud across east anglia and the south east that should tend to break up to give some spells of sunshine. but then we've got this zone of cloud pushing out of southern scotland into northern england, affecting parts of northern ireland, north wales, the north midlands may be producing the odd shower temperatures for some northern and east

that is a pretty nifty way out of what hasissue for a long time.felt there was no moral reason not to take that russian money because russia is causing all that damage to ukraine in an waggression. on the other hand, if we start people are not going to want to hold their money in western so, there has been a real reluctance to take this money. the compromise now is to use the innot give them back to russia. in fact, there is a statement to the effect that russia will only get its money back when the war ends and russia his help compensate ukraine for the aggression. for now, it will be this agreement on using the interest. the single biggest idea that came out of the meeting. again, president zelenskyy was there also is a show of support for the g7 from his country. host: met with president zelenskyy. they held a press conference. they also long-term ukrainian support agreement. what canhat? guest: well, the uni said even though president biden may only be presiden months that nonetheless we are going to go ahead and make a i guess seven months, so