India records 92,070 COVID-19 cases and 1,136 deaths in a single-day; tally crosses 48-lakh mark

By Administrator_India Capital Sands India on Monday registered a record 92,070 coronavirus cases in 24 hours taking the total number of infections to over 48 lakh, according to the Union Ministry of Health and Family Welfare. The country also recorded 1,136 deaths in the last 24 hours, the cumulative toll reached 79,722. The total case tally stands at 4,846,427 including 9,86,598 active cases while total recoveries stand at 37,80,107. A total of 37,02,595 people have recuperated from COVID-19 in the country so far, with 58 per cent of the recovered cases being…

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Covid-19 India 

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

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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Business Covid-19 

Reliance Communications’ resolution in limbo as DoT raises objection

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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Covid-19 Economic News 

Dollar wallows and stocks inch higher as stimulus eyed

By Administrator_India Capital Sands   The dollar languished and just about everything else rose on Thursday, as markets took patchy U.S. economic data as a harbinger of ever more stimulus and brinkmanship on Capitol Hill as a sign that a deal on a new U.S. stimulus package is close. Following Wall Street’s lead, MSCI’s broadest index of Asia-Pacific shares outside Japan extended the week’s rally by 0.3% to a fresh six-and-a-half-month high. Japan’s Nikkei index was steady and Asian currencies were on the march, with the Australian dollar gaining to around…

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Corona Hits US Covid-19 

Gold shines on falling dollar, yields; pandemic cost concerns drag on shares

By Administrator_India Capital Sands   Gold scaled a new high on Wednesday as a weaker dollar and falling bond yields burnished its safe-haven appeal, while shares were mostly lower as investors baulked at the ballooning cost of the coronavirus pandemic. Risk assets such as equities have surged in recent months on massive policy stimulus from central banks and governments, but gold has also rallied in a sign of heightened uncertainty around the long-term effects of the global health crisis. Spot gold jumped to a record high of $2,030.72 per ounce…

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Commodity Covid-19 

Oil Holds Near $41 Amid Concerns About U.S. Demand Recovery

By Administrator_India Capital Sands   Oil held losses near $41 a barrel in New York as signs of weakness in the U.S. labor market cast doubt on the strength of the demand recovery in the world’s biggest crude consumer. The first increase in jobless claims since March comes as lawmakers negotiate another virus relief package, while infections and deaths surged across many regions in the U.S. Oil was still poised to eke out a second weekly gain, buoyed earlier in the week by stimulus measures agreed by European Union leaders.…

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Commodity Covid-19 

Gold hovers near nine-year high as virus fears drive safe-haven demand

By Administrator_India Capital Sands   Gold rose on Tuesday, hovering near a nine-year peak hit in the last session, as worries over a spike in COVID-19 cases and expectations for inflation from more economic stimulus measures boosted demand for the safe-haven metal. Spot gold was up 0.1% at $1,817.23 per ounce, after hitting its highest since September 2011 at $1,820.06 on Monday. U.S. gold futures were little changed at $1,817.80. European Union leaders appeared to near an agreement on Monday on a 750-billion-euro stimulus plan for regional economies hit by…

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Covid-19 FED 

Dollar eyes multi-week lows as risk assets rally

By Administrator_India Capital Sands   The dollar nursed losses against most currencies on Thursday as a rally in riskier assets such as global equities and commodities put a dent in safe-haven demand for the U.S. currency. Traders in Asia are focused on whether China’s yuan can extend gains against the greenback as investors of all stripes shift funds to increase positions in Chinese stocks. Lingering worries about the spread of the coronavirus could keep some currency pairs in a tight range, but the dollar’s losses are gradually increasing as sentiment favours riskier…

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Covid-19 WHO 

WHO acknowledges ‘evidence emerging’ of airborne spread of COVID-19

By Administrator_India Capital Sands The World Health Organization on Tuesday acknowledged “evidence emerging” of the airborne spread of the novel coronavirus, after a group of scientists urged the global body to update its guidance on how the respiratory disease passes between people. The WHO has previously said the virus that causes the COVID-19 respiratory disease spreads primarily through small droplets expelled from the nose and mouth of an infected person that quickly sink to the ground. But in an open letter to the Geneva-based agency, published on Monday in the…

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Sensex Nifty Covid-19 Economic News 

Sensex, Nifty fall on dour IMF outlook, virus fears

By Administrator_India Capital Sands   Indian stocks fell on Thursday after the International Monetary Fund steeply cut its growth outlook for the country and forecast a deeper global recession, with a surge in coronavirus cases also spooking investors. The IMF predicted Indian economy to contract by 4.5% following a longer lockdown period and slower recovery than anticipated in April. It also expects global output to shrink 4.9% this year, much sharper than the 3% contraction predicted in April. Domestic coronavirus virus cases surged over 456,000, while some U.S. states reported…

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