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The US dollar slumped from its two-week high on Thursday as investors reduced their bets on an interest-rate increase. Although the U.S. House of Representatives had passed a bill to suspend the $31.4tn debt ceiling earlier in the week, the focus is now on how it will fare in the Democratic-led Senate. The dollar was mixed in Asia trade and hardly reacted to the vote. Markets currently believe that there is about a 26% chance that the US Federal Reserve will increase the rate 25 basis points at the meeting, down from the near 67% chance a day before.

In the NSE list of stocks, 4 stocks with a market cap of over Rs 10,000 crore are witnessing Golden Crossovers, according to StockEdge’s technical scan data.

Benchmark indices in India closed lower on the last day of May, with the S&P BSE Sensex declining 346 points, and Nifty50 settling at 18,534 levels, amid negative global market signals. The auto and FMCG sectors saw gainings, while bank, metals, and financials dragged. Stocks in focus include Suzlon Energy, which gained 10%, Torrent Pharma, up 6.15%, and ONGC, down nearly 6%. Stoxbox Head-Technical Analyst Rohan Shah advises investors to buy Torrent Pharma, stating the stock has been trading in an ascending channel and Suzlon Energy, stating the stock has risen over 52% and may attract further upward moves above Rs 11.50.

The ongoing rate tightening has begun to impact the financial systems in developed markets, leading to the collapse of some regional banks in the US.

Indian market is expected to consolidate on Thursday, as S&P BSE Sensex plunged over 300 points while Nifty50 managed to hold the 18500 levels. The India VIX was down by 0.31%, and volatility remained in the same range. The weekly maximum Call OI is at 18600, followed by 18700 strikes, and the maximum Put OI at 18500. PNB Housing, Coforge and PI Industries are some of the recommended short-term trading horizon stocks. Experts suggest a broader trading range between 18300 to 18800 zones and an immediate range of 18450 to 18700 zones.

South Indian Bank has finalised the candidates for the post of MD and CEO of the Bank. The lender will submit the application to the RBI seeking approval for the same.

​This indicates a bullish sentiment in the market, as the average traded and delivered quantity for 5 days along with the cumulative open interest, and the price for the stocks have increased. ​

The major U.S. stock indices closed down on Wednesday as investors expressed concern that the Federal Reserve may hike interest rates again in June if the "hawkish pause" proved to be fleeting. Although the House of Representatives is poised to vote for a bill to lift the federal debt ceiling, the economy is still slowing, and inflation needs to decline further. Futures traders predict a 70% probability of a 25-basis-point hike at the June 13-14 Fed meeting. Tim Ghriskey, Chief Investment Strategist at Inverness Counsel, said forthcoming employment data could determine whether a rate hike occurs.

​Bearish reversal pattern on the candlestick screener can help ascertain stocks where the trend can change downward from an uptrend zone.​

Arnault first surpassed Musk in December as the tech industry struggled and luxury showed resilience in the face of inflation. LVMH, which Arnault founded, owns brands including Louis Vuitton, Fendi and Hennessy. Faith in the luxury sector’s buoyancy is starting to fade amid mounting signs of slowing economic growth, particularly in the critical market of China. LVMH shares have tumbled about 10% since April, at one point wiping $11 billion from Arnault’s net worth in a single day.