India stocks lower at close of trade; Nifty 50 down 1.71% Economic News India 

Indian shares hit near four-month highs, Reliance rises on Intel investment

By Administrator_India Capital Sands   Indian shares scaled near four-month highs on Friday, as upbeat data from the United States and China outweighed concerns about surging domestic cases of the novel coronavirus, while Reliance Industries climbed after Intel invested in its digital unit. The benchmark indexes rose for a third day, with the Nifty rising 0.39% to 10,592.55 and the Sensex by 0.34% to 35,963.73. Both indexes were set for their third straight weekly gain. Broader Asian markets were supported by data that showed China’s services sector in June expanded…

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Commodity Economic News 

Gold Down Over Hopes For a COVID-19 Vaccine

By Administrator_India Capital Sands   Gold was down on Thursday morning in Asia, with investor sentiment boosted by positive results from yet another potential COVID-19 vaccine. U.S. pharmaceutical company Pfizer announced the results from the early stage human trial for BNT162b1, its mRNA candidate jointly developed with German biotech firm BioNTech, on Wednesday. The results showed production of neutralizing antibodies in all the patients who were inoculated after 28 days. Pfizer also has three other mRNA candidates under development. Gold futures slid 0.16% to $1,777.05, as investors retreated from the…

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Commodity Economic News 

Oil rises after drop in U.S. crude stocks suggests demand pickup

By Administrator_India Capital Sands   Oil prices rose more than 1% on Wednesday after data showed crude inventories in the United States fell much more than expected, suggesting demand is improving even as the coronavirus outbreak spreads around the world. Brent crude rose 48 cents, or 1.2%, to $41.75 a barrel after declining more than 1% on Tuesday. U.S. crude was up 54 cents, or 1.4%, at $39.81 a barrel, having dropped by 1.1% in the previous session. U.S. crude and gasoline stocks declined more than expected last week, while distillate…

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