Moneycontrol Selects: Top stories this evening

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Here are the top stories this evening:

Inflation data, Fed interest rate decision major factors to drive markets this week: Analysts

The inflation data for May and the US Fed interest rate decision are the crucial factors that would dictate terms in the equity market this week, analysts said. Moreover, foreign fund trading activity, movement of rupee and crude oil prices would be the other key monitarables for the markets, they added.

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India's power demand jumps by 45,000 Megawatt in a year; ensuring 23 to 23.5 hour supplies: Minister

India’s power demand this year has jumped by a record 40,000-45,000 MW per day as an intense heat wave sweeps through northern parts of the country, the economy expands, and electricity reaches millions of unelectrified homes, Power Minister RK Singh has said.

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Crypto extends tumble into weekend after US inflation data

Bitcoin and Ether fell on Sunday amid a broader retreat by the cryptocurrency complex in the wake of data showing US inflation hitting a fresh 40-year high.

Ether declined as much as 5% to $1,445.56, its lowest level since March 2021, while Bitcoin dropped to as low as $27,264.65, its lowest since May 12. Virtually all top tokens tracked by Bloomberg were down Sunday, especially the likes of Dogecoin and Avalanche.

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FPIs pull out Rs 14,000 crore from Indian equities in June on global, domestic concerns

Wary of the scenario on the global and domestic fronts, foreign investors continued to withdraw from Indian equity markets and pulled out close to Rs 14,000 crore in this month so far. With this, net outflow by foreign portfolio investors (FPIs) from equities reached Rs 1.81 lakh crore so far in 2022, data with depositories showed.

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