Good morning and welcome to Markets Desk, your midday read on what's moving markets and why.
Nebius has become one of the standout performers of two thousand twenty six, with shares nearly tripling as the company carves out serious ground in AI infrastructure — helping enterprises build, train, and deploy models at scale. The momentum suggests institutional conviction, not just retail enthusiasm, and analysts see room to run if enterprise AI spending holds.
Shifting to megacap tech, Microsoft bucked a sharp semiconductor selloff on June fourth, finishing the session in positive territory even as chip names took a meaningful hit. That divergence is telling — investors appear to be rotating toward software-layer AI exposure and away from hardware risk, positioning Microsoft as a relative safe harbor when the semis get choppy.
Meanwhile, eyes are on Mumbai this morning as Indian equity markets opened cautiously ahead of the Reserve Bank of India's rate decision. Traders are pricing in measures designed to support capital inflows and stabilize the rupee, which has faced pressure in recent sessions. The RBI's tone on inflation and growth will set the direction for emerging market sentiment heading into the weekend.
That's the tape. Markets Desk, signing off the floor.
