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The 30-share BSE Sensex climbed 240 points to settle at 62,788. Nifty gained 60 points, but ended below 18,600 levels. From the Nifty pack, top gainers included HDFC Bank, Axis Bank, Reliance, HDFC and ICICI Bank.

Binance and its CEO Changpeng Zhao have been accused of violating US securities rules by the US Securities and Exchange Commission (SEC). The charges include operating unregistered exchanges, selling unregistered securities and misleading investors. Zhao denied the charges on Twitter, saying his team would review the allegations.

Investments in equities or mutual funds should be made with a long-term horizon to avoid risks from timing the market, according to Bhuvanaa Shreeram, Co-Founder & Head of Financial Planning at House of Alpha. Investors should focus on balancing large-cap with small- and mid-cap funds, with 50% of the money going to the former and the remaining divided between the latter, she advised.

The Dow Jones Industrial Average rises 8.37 points; S&P 500 opens higher by 0.62 points and Nasdaq Composite drops 2.28 points

As per a report — Recession Probability Worldwide 2023 — India is the safest with 0% chance of recession

Asian stocks followed Wall Street higher on Monday after strong US hiring data suggested a possible recession might be further away and that the US Fed would pause rate hikes this month.

Sonalis Consumer Products is set to launch its initial public offering (IPO) on June 7, which will end on June 9, and will offer up to 9.44 lakh equity shares at a price band of Rs 30 per equity share of face value of Rs 10. The company aims to raise around Rs 2.83 crore from the public offer, which will be used for working capital requirements, other corporate purposes, and issue expenses. Sonalis Consumer Products is engaged in manufacturing nutritional bars and healthy snacks and has a limited number of raw material suppliers with significant competition in the business.

Stocks that were in focus include names like Bharat Electronics, up over 2% to hit a fresh 52-week high, GE Power India gained more than 18%, and Tata Motors closed with gains of 2% to hit a fresh high on Monday.

Midcaps have been on a good run of late, with the midcap index hitting an all-time high last week, while the Nifty is just 2% shy of record highs.

While the Sensex closed at 62,787, up by 240 points or 0.38%, the broader Nifty50 settled at 18,594, up by 60 points or 0.32%.