Asian shares markets are trading on a mildly positive note today while major currencies traded in narrow ranges in cautious trading early Monday as investors await interest rate decisions this week from the US, Europe, China, and Japan.

The Nikkei is trading higher by 0.4%. The Hang Seng index ended 0.6% lower and the Shanghai Composite is down 0.3%

The S&P 500 closed higher on Friday but off session highs, as a Tesla rally failed to galvanize the broader market on the eve of the Federal Reserve's policy meeting and inflation data this week.

The Dow Jones Industrial Average ended marginally higher and the tech-heavy Nasdaq Composite ended 0.3% higher.

Here's a table showing how US stocks performed on Friday:

Data source: Equitymaster

Back home, Indian share markets are trading on a flat note following the trend on SGX Nifty.

At present, the BSE Sensex is trading higher by 19 points. Meanwhile, the NSE Nifty is trading up by 11 points.

Infosys and HCL Technologies are among the top gainers today.

L&T and Titan on the other hand are among the top losers today.

Check out the NSE Nifty heatmap to get the list of gainers and losers.

Broader markets are trading on a positive note. The BSE Mid Cap index is up 0.3% the BSE Small Cap index is trading 0.6% higher.

Sectoral indices are trading on a positive note except for the capital goods sector and consumer durables sector. Stocks in the realty sector and IT sector witness buying.

Shares of Hindustan Aeronautics and Astral hit their 52-week high today.

The rupee is trading at Rs 82.43 against the US dollar.

In commodity markets, gold prices are trading lower by 104 to Rs 59,717 per 10 grams today.

Meanwhile, silver prices are trading lower by 0.6% at Rs 73,359 per 1 kg.

Now track the biggest movers of the stock market using the stocks to watch today section. This should help you keep updated with the latest developments...

Speaking of stock markets, is AI going to eat the lunch of the average retail investor? AI or Artificial Intelligence is one of the hottest topics of discussion these days.

You see, the computers that we have used up till now couldn't think on their own. Their outputs were entirely based on a set of instructions or the code as they are called in the technical language.

To put it crudely, no matter how fast or how efficient the computer is, it is still a calculating machine at its core. However, AI is a different beast altogether.

It is an intelligence that has been inspired by the natural or the human form of intelligence. In other words, it tries to mimic the human brain. In that case, will it threaten the average retail investor? Will AI impact long-term returns for the small investor?
 

SBI to raise Rs 500 bn

State Bank of India (SBI), the country's largest lender, received board approval to raise Rs 500 billion (bn) through debt instruments during the financial year 2024.

These debt instruments could include long-term bonds, Basel III compliant additional tier 1 Bonds, and Basel III compliant tier 2 Bonds.

Earlier on 5 June, SBI had informed that its board was scheduled to meet on 9 June to consider and approve the raising of funds during FY.

SBI had reported a net profit of Rs 166.9 bn for the March 2023 quarter, registering a rise of 83% from Rs 91.1 bn in the corresponding quarter last year.

For the financial year 2023, SBI's net profit crossed Rs 500 bn-mark and stood at Rs 502.3 bn, witnessing a growth of 58.6% YoY. Little wonder SBI was one of the 5 Indian banks that earned record-high profits in FY23.

The state-run lender's net interest income (NII) during Q4 increased 29.5% YoY to Rs 403.9 bn, while the domestic net interest margin (NIM) for Q4 increased by 44 basis points (bps) YoY to 3.8%.

SBI's Capital Adequacy Ratio (CAR) at the end of FY23 improved by 85 bps YoY and stood at 14.68%.

On the back of improving financials SB share price saw a sharp rally. It gained over 29% in the last year.

Promoter sells stake from CMS Info Systems

The promoters of CMS Info Systems offloaded a part of its stake in the company via open market operations.

Sion Investment Holdings, part of the promoter group, offloaded a nearly 13.7% stake for Rs 6.4 bn in CMS Info Systems.

According to the latest shareholding pattern of CMS Info Systems, Sion Investment Holdings have a 60.2% stake in CMS Info Systems as of March 2023 quarter. Post the latest transaction, Sion Investment Holdings' stake has been reduced to 46.5%.

According to bulk deals data available with the exchanges, Abu Dhabi Investment Authority (ADIA) has bought 20 lakh shares of 1.3% stake at an average price of Rs 300, while Norges Bank has picked up about 25 lakh shares or 1.7% stake at an average price of Rs 300.

Apart from the foreign investors, three domestic fund houses SBI Mutual Fund, 360 One Mutual Fund, and IIFL Mutual Fund have added stakes in CMS Info Systems, bulk deals data showed.

SBI Mutual Fund bought 6.7 m shares at an average price of Rs 300, and 360 One Mutual Fund, on the other hand, has bought 1.2 m shares at Rs 300. IIFL Mutual Fund, meanwhile, added 12,36,111 shares in CMS Info Systems.

While Mansi Shares and Stock Advisors bought 9,43,301 shares at an average price of 301.83 and Valuequest Investment Advisors Pvt Ltd bought 10,08,000 at Rs 300.

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