Rs 10,000 crore ATF Price Stabilization Fund, US proposes tariffs on 50+ countries, & more

Wednesday, 3 June 2026

Jun 03, 2026

Markets opened below yesterday’s closing point.

PSU bank stocks and private bank stocks rose the most today. IT stocks and realty stocks fell the most.

Global markets: Most US markets closed almost flat. Most Asian markets rose. European markets fell (as of 6 pm IST).

News

India’s composite PMI rose to 59.3 in May (vs 58.2 in April). Services PMI rose to 59.8 (vs 58.8 in April). This means economic activity grew more in May than in April.
The government approved a one time Rs 10,000 crore Price Stabilization Fund to provide interest-free loans to Oil Marketing Companies. The aim is to stabilize jet fuel (ATF) prices to shield Indian airlines from West Asia crisis shocks and prevent extreme fare hikes.
The RBI dismissed rumors that it sold gold worth $12 billion to defend the Rupee, clarifying that its physical gold reserves remain entirely steady at 880.52 tonnes.
The US has proposed tariffs up to 12.5% on goods from India and around 50 other countries, claiming these countries failed to block products made with forced labor from entering their markets. The India-US bilateral trade talks are currently underway.
The government approved the construction of a new coastal highway from Rameshwar to Paradeep in Odisha at a cost of Rs 8,300.79 crore.
The government approved Rs 7,597.16 crore for the widening of the Armoor-Jagtial-Mancherial (NH-63) and Jagtial-Karimnagar (NH-563) highway sections in Telangana into 4-lane roads.
The government approved Rs 4,415.60 crore to upgrade and widen 233.65 km of the NH-347B highway corridor in Madhya Pradesh.
The government approved Rs 3,936.05 crore for the upgradation of the 143.5 km Khagaria-Purnea section of NH-31 and NH-231 in Bihar to a 4-lane highway.
Oyo’s parent company Prism received SEBI’s approval for a Rs 6,650 crore IPO.
CMR Green Technologies IPO has been subscribed 2.46 times. Retail subscription: 2.45 times. IPO closes on 5 June.

Stocks Updates

IndiGo: will temporarily discontinue flights to and from Manchester from 31 August due to airspace restrictions, higher fuel costs, and operational challenges. The company will return 1 of its 6 leased Boeing 787 Dreamliners to Norse Atlantic Airways.
Lupin: along with alliance partner Natco Pharma, received US FDA approval for Eribulin Mesylate Injection used to treat metastatic breast cancer and liposarcoma. The original drug recorded annual US sales of about $43.7 million.
TCS: expanded partnership with Euroclear to modernise Sweden’s central securities depository.

Word of the Day

Tariffs

They are taxes imposed by a government on goods imported from other countries.

Tariffs are used as a tool to make imported products more expensive, protect domestic industries from foreign competition and encourage local production.

Higher tariffs can increase the cost of imported goods for consumers, while lower tariffs can promote trade between countries.

Example: If India imposes a 10% tariff on imported steel worth Rs 100, the importer must pay an additional Rs 10 as tax, increasing the total cost to Rs 110.

6 Day Course

Theme: use of LLMs in investing
Day 3: Wednesday

Many LLMs offer integration with spreadsheets.

This means investors can analyse, and make changes to their Microsoft Excel or Google Sheets files.

This is a great tool for investors whenever any kind of calculation or analytics is involved.

Many analysts make use of complicated formulas which can now be written much more easily with the help of these LLM tools.

Not just that, investors can store vast quantities of different data and use LLMs to analyse and summarise them.

Similarly, there are plug-ins for analysing documents, reports, PDFs etc that can help investors get their key desired insights from a vast amount of information or data.

A combination of these plug-ins can be used to collect information from different sources and store in one central document.

Featured Question

Q. “I heard some people say about market corrections some time market starts going down and down... and some say market correction is going that’s why..... If it is true then what exactly is market correction and how it is done.... is there any fixed time or day ??”

‘Market correction’ is a way of describing a fall in the markets.

Usually, ‘correction’ is used for less severe market falls.

The word correction also implies that the fall is temporary and that the markets will catch up.

Obviously it is impossible to predict just how big a market fall will be and how long it will last.

So, corrections do not have a fixed time or day. It is not something that someone consciously controls.

It happens first and gets labelled as a ‘correction’ later.

Some believe a correction is when the market falls over 10% but less than 20%.

But there is no clearly accepted definition of a ‘correction’.