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Month: August 2020

India Market 

Unlock 4.0: Delhi Metro receives nod to resume services from September 7

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By Administrator_India Capital Sands The Ministry of Home Affairs (MHA) on August 29 gave the go-ahead for reopening of metro rail services with effect from September. The Metro rail will be allowed to operate with effect from September 7 in a graded manner, the Unlock 4 guidelines issued by the MHA said. Chief Minister Arvind Kejriwal tweeted that he was “glad” the metro services will resume operations in a phased manner. “As per the latest guidelines issued by the Ministry of Home Affairs under Unlock-4, the Delhi Metro will be…

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FED Fed's Powell calls 

Treasury yields, dollar gain after Fed’s historic policy shift

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By Administrator_India Capital Sands   Longer-dated Treasury yields and the dollar rose in Asia on Friday after the U.S. Federal Reserve shifted its policy framework to place more emphasis on boosting economic growth and less on worries about letting inflation run too high. The 10-year U.S. Treasury yield rose to 0.7870%, the highest since June 10, which caused the yield curve to steepen, reflecting the Fed’s tolerance for higher inflation. The dollar hit a two-week high against the yen but held steady against most other major currencies. Gold prices erased early gains…

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Covid-19 India 

Maharashtra government slashes stamp duty to 2% until Dec 2020 to boost demand

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By Administrator_India Capital Sands   To boost the stagnant real estate market hit by COVID-19, the Maharashtra government on August 26 decided to temporarily reduce stamp duty on housing units from 5 percent to 2 percent until December 31, 2020, sources said. Stamp duty from Jan 1, 2021, until March 31, 2021, will be 3 percent, they said. The decision was taken at the state cabinet meeting on August 26. Real estate developers had been asking for a reduction in stamp duty following the lockdown to encourage homebuyers to purchase…

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India 

Sonia Gandhi reaches out to CMs of West Bengal, Maharashtra and Jharkhand on GST compensation issue

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By Administrator_India Capital Sands Congress president Sonia Gandhi on August 25 reached out to the chief ministers of West Bengal, Maharashtra and Jharkhand on the issue of compensation to states and would hold a meeting with them for evolving a collective stand at the August 27  GST Council meeting, sources said. They said Gandhi will be holding the virtual meeting with Mamata Banerjee, Uddhav Thackeray and Hemant Soren, besides all four Congress chief ministers, to evolve a joint strategy for pressing the central government to grant compensation to states. The…

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Business News Corona Hits US 

US-China trade optimism to limit XAU/USD’s rebound

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By Administrator_India Capital Sands   Gold (XAU/USD) started out the week on the back foot and closed Monday below $1930, extending Friday’s weakness. The spot once again failed to sustain above the $1950 level, as the coronavirus vaccine optimism lifted the risk sentiment and dulled the haven appeal of gold. Wall Street closed at record highs while the rally in the US Treasury yields prompted the US to stage a solid comeback across the board. Markets cheered the US Food and Drug Administration’s authorization of the use of blood plasma from…

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Technical Analysis UK Economy 

GBP/USD Rallies Despite Ongoing Deadlock in Post-Brexit Talks

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By Administrator_India Capital Sands   The pound continued its strength against the dollar on Thursday, shrugging off growing concerns that the U.K and EU are unlikely to find a breakthrough on the latest round of post-Brexit talks, which concludes on Friday. GBP/USD rose 0.71% to $1.3192. With the latest U.K.-EU trade talks set to end on Friday, there are few betting that both sides will be able to find common ground on key sticking issues including access to British fishing waters and the level playing field rules – a set of…

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Business Covid-19 

Reliance Communications’ resolution in limbo as DoT raises objection

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By Administrator_India Capital Sands   The Department of Telecommunications has objected to the resolution plan for Reliance Communications, as well as its unit Reliance Telecom, at the National Company Law Tribunal (NCLT), Mumbai. The NCLT has adjourned its hearing on the resolution plan for the firms till August 21. The Department of Telecommunications will file written submissions by then. According to the resolution plan approved by lenders, the Department of Telecommunications will not get any proceeds following resolution of the companies, because it has been labeled an operational creditor. The CoC, led by…

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Business News Economic News 

Asian stocks at seven-month highs after Wall Street cracks more records

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By Administrator_India Capital Sands   Asian shares climbed to a seven-month peak on Wednesday tracking the S&P 500, which scaled all-time highs driven by ever expanding policy stimulus aimed at cushioning the blow to economies from the coronavirus pandemic. MSCI’s broadest index of Asia-Pacific shares outside of Japan rose 0.3%, up for a third straight day to 570.80 points, a level not seen since late January. The gains were driven by Australian shares, up 0.8% and South Korea, which added 0.6%. Japan’s Nikkei nudged up too though Chinese shares started weaker with…

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Business News Commodity Broker 

Investors still remain attracted towards precious metals, thanks to US-China trade tensions

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By Administrator_India Capital Sands   Last week began with gold trading near record high levels, although a few factors along the way started to turn around, including hopes for a COVID-19 vaccine, rise in treasury yields, strong dollar and positive economic data. There are no words which can describe last week’s movement as even “wild swings” is an understatement. Although, after experiencing an intense session of profit-taking earlier in the week, gold is trading back above $1,950 per troy ounce. Some caution is necessary and should be expected after the…

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Business Economic News 

Asia shares move ahead led by China gains

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By Administrator_India Capital Sands   Asian shares firmed toward recent peaks on Monday as Chinese markets swung higher, while investors waited to see if the recent sell-off in longer-dated U.S. Treasuries would extend and maybe take some pressure off the beleaguered dollar. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.5% to 565.74, moving nearer to the January top of 574.52. Chinese blue chips led the way with gains of 2.0%, with the country’s central bank providing more medium term loans to the financial system. Japan’s Nikkei dipped 0.6% after touching a…

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