Indian Stock Bulls Count on June For Sustained Gains
Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at:
Good morning, this is Alex Gabriel Simon, an equities reporter in Mumbai. Indian stocks may open lower this morning despite strong global market gains, as traders take a wait-and-watch approach amid limited triggers and sluggish foreign fund flows. However, ITC shares will be in focus due to British American Tobacco's planned sale of a stake worth at least $1.36 billion.
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With increasing airspace closures around Russia and Ukraine, throughout the Middle East, between India and Pakistan and in parts of Africa, airlines are left with fewer route options. "Compared to five years ago, more than half of the countries being overflown on a typical Europe-Asia flight would now need to be carefully reviewed before each flight," said Mark Zee, founder of OPSGROUP, a membership-based organisation that shares flight risk information. The Israeli-Palestinian conflict in the Middle East since October 2023 led to commercial aviation sharing the skies with short-notice barrages of drones and missiles across major flight paths – some of which were reportedly close enough to be seen by pilots and passengers. Russian airports, including in Moscow, are now regularly shut down for brief periods due to drone activity, while interference with navigation systems, known as GPS spoofing or jamming, is surging around political fault lines worldwide. 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