Stock to buy today: Olectra Greentech (₹1,319.70)

BioCryst said it expects ORLADEYO to reach $1B peak sales, citing payer mix of ~60% commercial, 20% Medicare Part D and 20% Medicaid and gross-to-net around 15% last year. Pediatric ORLADEYO launch was delayed by a batch manufacturing issue, not safety-related. In Phase 3, navenibart ALPHA-ORBIT enrollment should finish by end-June; top-line data due Q3 next year, with a likely 2H 2028 launch. BioCryst reported pro forma cash of $330M and expects profitability this year and next.

Chip stocks fell sharply as investors weighed higher-rate fears after a strong jobs report and concerns that AI spending may not deliver expected returns. The Nasdaq dropped 4.2% (worst in over a year); Micron, Intel, Super Micro and SanDisk fell 11%+; Nvidia and Cisco fell 6%+. The PHLX Semiconductor Index lost $1.2T, and 2-year Treasury yields rose to 4.16%.

HDFC Mutual Fund temporarily restricted fresh lump-sum inflows into its HDFC Gold ETF and HDFC Gold ETF Fund of Fund, citing “broader economic and market conditions.” Direct subscriptions of ₹25 crore+ into the Gold ETF won’t be accepted from June 8, 2026; Gold FoF lump-sum and switch-ins are capped at ₹10 lakh per PAN per month from June 5, 2026. Existing SIPs and exchange trading remain unaffected.

U.S.-listed semiconductor stocks fell sharply Friday, with the PHLX chip index down 10.3%—its biggest one-day drop since March 2020—adding to Thursday’s losses. The selloff followed Broadcom’s weaker-than-expected quarterly report on demand for custom AI chips. Nvidia fell ~6%, Micron -13%, AMD ~-11%, and Broadcom -7.9%.

Coinbase shares fell about 9% in the afternoon after Baird downgraded the stock to a “Bearish Fresh Pick,” cutting its price target to $142 from $160 (Neutral). Baird expects Q2 revenue to miss Wall Street consensus by 5–6%, citing trading activity driven by Bitcoin selling rather than new capital. The move followed a near-6% Bitcoin drop and rate-hike concerns after a strong May jobs report.

US stocks fell sharply Friday as Big Tech sold off and a strong May jobs report boosted expectations of higher Fed rates. The S&P 500 dropped 2.6% to 7,383.74, the Dow fell 1.4%, and the Nasdaq slid 4.2%. Nvidia (-6.2%), Broadcom (-7.9%), Micron (-13.3%) led declines. The Labor Department said US added 172,000 jobs in May; 10-year yields rose to 4.54%.