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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India's services activity collapses as coronavirus paralyses global economy India 

India’s services activity collapses as coronavirus paralyses global economy

By Ritu, Capital Sands India’s services activity suffered a shock collapse in April as the coronavirus lockdown crippled global demand, causing a historic spike in layoffs and reinforcing fears of a deep recession in Asia’s third-largest economy, a private survey showed. The grim result for the industry, the engine of economic growth and jobs, underlined the pandemic’s sweeping impact across India as authorities extended a nationwide lockdown, in effect since March 25, until May 17. The Nikkei/IHS Markit Services Purchasing Managers’ Index plunged to an eye-popping 5.4 in April from…

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India charges Tablighi Jamaat chief with culpable homicide for coronavirus surge Covid-19 India 

India charges Tablighi Jamaat chief with culpable homicide for coronavirus surge

By administrator_India Capital Sands India has brought charges of culpable homicide not amounting to murder against the chief of a Muslim seminary for holding a gathering last month that authorities say led to a big jump in coronavirus infections, police said on Thursday. The headquarters of the Tablighi Jamaat group in a cramped corner of Delhi were sealed and thousands of followers, including some from Indonesia, Malaysia and Bangladesh, were taken into quarantine after it emerged they had attended meetings there in mid-March. Police initially filed a case against Muhammad…

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