India's trade deficit narrowed more than expected in May as imports fell, offering some relief to macro watchers. Wholesale inflation also cooled to a 14-month low, with food prices easing notably.
On the corporate side, passenger vehicle sales slipped slightly in May, while Vishal Mega Mart and Sai Life Sciences shares are set to exit lock-in periods.
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Markets ended higher despite geopolitical jitters, and SBI trimmed savings deposit rates to a record low.
Here's a quick roundup of today's key headlines:
Trade Deficit Narrows To $21.88 Billion In May
India's trade deficit narrowed from $26.43 billion in April to $21.88 billion in May, below estimates. Merchandise exports dipped 2.2% to $38.73 billion, while imports declined 1.7% to $60.61 billion. Services exports were at $32.29 billion and imports at $17.14 billion.
Wholesale Inflation Eases To 0.39% In May
India's wholesale price inflation fell to 0.39% in May from 0.85% in April—the lowest in over a year. Food prices led the decline, with WPI food inflation hitting a 19-month low of 1.7%. ICRA expects further easing in June if monsoon trends hold.
Air India Crash: Cockpit Voice Recorder Recovered
Investigators have found the Cockpit Voice Recorder from the Air India crash in Ahmedabad that killed 270 people. PMO Principal Secretary P K Mishra visited the crash site and chaired a high-level review with central and state officials on relief and probe progress.
Passenger Vehicle Sales Dip 0.8% In May: SIAM
May 2025 passenger vehicle sales dropped 0.8% year-on-year to 3.44 lakh units, SIAM data showed. Despite the dip, it was the second-highest May tally on record. Two-wheeler sales hit 16.6 lakh units, and utility vehicles sold 1.97 lakh units in the month.
SBI Cuts Savings Account Rate To Record Low Of 2.5%
State Bank of India slashed its savings deposit rate by 20 basis points to 2.5%, the lowest since deregulation in 2010. The move follows a 50 basis point repo rate cut by the RBI and is accompanied by cuts to SBI's loan and fixed deposit rates.
Shares Worth Rs 39,000 Crore To Exit Lock-In Tuesday
Vishal Mega Mart and Sai Life Sciences shares worth Rs 39,385 crore will become free to trade as their six-month lock-in ends. Vishal Mega Mart will release 254.2 crore shares worth Rs 31,775 crore; Sai Life will free up shares worth Rs 7,610 crore.
Trump: Israel, Iran May ‘Fight It Out' Before Peace Deal
US President Donald Trump said Israel and Iran might need to continue fighting before reaching a deal. His comments came ahead of the G-7 summit as tensions escalated with Israel striking Tehran and Iran launching drones and missiles in retaliation.
Markets End Higher; Oil Falls After Early Spike
The Nifty 50 rose 227.9 points to 24,946.5 and Sensex gained 677.55 points to close at 81,796.15. Broader indices also ended in the green. Brent crude erased early gains after jumping 5.5% on weekend tensions and closed 0.38% lower at $73.95.
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