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Month: December 2020

Sensex crosses 52,000-mark for first time amid huge investments by FPIs Stock Market 

Sensex, Nifty extend record run on vaccine booster; Ultratech Cement up 4%

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By Administration_ India Capital Sands The Sensex and Nifty raced to fresh record highs on Wednesday as gains in financials, auto, and cement counters helped benchmarks extend their winning run for the sixth straight session amid positive global cues. European equities marched higher after the UK became the first country to approve the Covid-19 vaccine developed by AstraZeneca and Oxford University. Serum Institute of India  termed the approval as encouraging news and said the company would now wait for the final nod for the vaccine in India. After succumbing to profit-booking…

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Indian economy Economic News 

Indian economy could be ‘most resilient’ in subregion in long term

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By Administration_ India Capital Sands India’s economy could prove to be the “most resilient” in the subregion of South and South-West Asia over the long term, according to a report by the UN, which says a positive but lower economic growth post COVID-19 pandemic and the country’s large market will continue to attract investments. The report titled ‘Foreign Direct Investment Trends And Outlook In Asia And The Pacific 2020/2021’, and compiled by United Nations Economic and Social Commission for Asia and the Pacific , stated that inward FDI flows to South and…

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Market 

Sensex above 47K on US stimulus package; Wall Street hits record high’

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By Administration_ India Capital Sands The Indian equity benchmark indices closed at yet another record high on the first day of the year’s final week. Continuing foreign portfolio investor (FPI) flows and positive global cues on US President Donald Trump’s signing a $2.3-trillion spending Bill, including a $900 billion coronavirus relief package, helped the benchmark Sensex to end higher and breach the 47,000-mark. Most markets worldwide, including European and US indices, were in the green, with Wall Street’s main indices hitting record highs in early trading. Germany’s DAX, too, traded at a record high.…

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Petrol, Diesel prices remain steady, govt tax collection on fuel swells by 459% in 7 years Economic News 

Petrol, diesel prices unchanged for 21st day

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By Administrator_ India Capital Sands Petrol and diesel prices were paused for the the 21st day on Monday after sixth straight day of hikes. Fuel prices were hiked for the sixth straight day on December 7 by the oil marketing companies leading rates to touch 2-yrear high. Petrol price in Delhi was was hiked by 30 paise per litre and diesel by 26 paise, the sixth straight day of increase in rates due to firming international oil prices on Monday. Petrol price in Delhi is at Rs 83.71 per litre while…

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Economic News 

RBI governor asks banks to strengthen lending capacity by raising capital

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By Administration_ India Capital Sands The RBI Governor Shaktikanta Das has asked banks to take proactive measures to strengthen their resilience and lending capacity by raising capital, the central bank said in a statement on Wednesday. During a two-day meeting with heads of banks, including the private sector lenders, the governor emphasised on the need to remain vigilant and make provisions against bad loans proactively. Das had held similar meetings in May as well. He had also met with representatives of other financial institutions like NBFCs and microfinance lenders. The RBI, in its statement,…

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Gold Commodity 

Gold Up Over Cautious Stimulus Hopes

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By Administration_ India Capital Sands Gold futures inched up 0.01% at $1,870.50 by 10:47PM ET (3:47 AM GMT). U.S. President Donald Trump said on Tuesday that he may not sign a COVID-19 bill passed by both the House of Representatives and the Senate on Monday. He called the bill an unsuitable “disgrace,” but stopped short of threatening to veto the legislation. More countries continue to impose new travel restrictions to keep the new B.1.1.7 strain of the COVID-19 virus out. The Philippines banned all U.K. flights from Dec. 24 earlier in…

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Dollar holds weak bias on expectations Powell will shun tapering Business 

Five things to know about US Congress deal for COVID-19 relief and its impact

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By Administration_ India Capital Sands On December 20, top Capitol Hill negotiators sealed a deal for an almost $1 trillion COVID-19 economic relief package. This finally delivers long-overdue help to businesses and individuals and providing money to deliver vaccines to a nation eager for them. Here’s everything you need to know about this deal: — This deal now establishes a temporary $300 per week supplemental jobless benefit. In addition to this, it also offers a $600 direct stimulus payment to most Americans, along with a new round of subsidies for hard-hit businesses and…

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Apple temporarily shuts stores Business 

Apple temporarily shuts stores in US and UK as coronavirus cases surge

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By Administration _India Capital Sands Apple Inc has temporarily shut all of its 53 stores in California because of a coronavirus outbreak and 16 stores in the United Kingdom following restrictions introduced by the government in London, a spokesman said on Saturday. The company said on Friday it was temporarily shutting some stores in California following a surge in Covid-19 cases, sending the iPhone maker’s shares down in trading after the bell. That announcement covered at least 12 stores. Customers would still be able to pick up existing orders for the next few…

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Oil Up, Fueled by Continuous Increase in U.S. Fuel Demand Commodity 

Oil Down, Rise in COVID-19 Cases Leads to Fuel Demand Worries

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By Administrator_ India Capital Sands Oil was down on Friday morning in Asia, with ever-rising numbers of COVID-19 weighing on fuel demand and the U.S. Congress continuing negotiations for a $900 billion economic stimulus bill. Brent oil futures were down 0.23% to $51.38 by 11:02 PM ET (4:02 AM GMT) and WTI futures inched down 0.04% to $48.34. Both Brent and WTI futures did not stray far from the nine-month highs seen during the previous session. Oil prices climbed on Thursday over optimism around the bill’s progress and strong Asian refining demand. “We…

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Saudi Arabia plans spending cuts in 2021 as economy recovers: Report Economic News 

Saudi Arabia plans spending cuts in 2021 as economy recovers

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By Administration_ India Capital Sands Saudi Arabia said its spending plans for next year would be expansionary, as it leans more heavily on government-controlled funds to make up for cuts to a finance ministry budget battered by a decline in oil prices and the coronavirus pandemic. The kingdom will stick to its plan to cut spending by 7.3 per cent in 2021 after its deficit widened dramatically this year, according to an annual budget statement released Tuesday. Spending is projected at 990 billion riyals ($264 billion). Revenue is expected to rise…

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