Economic News 

Petrol, Diesel Prices Today, June 21, 2021

By Administrator_ India Capital Sands After a day’s pause, fuel prices were again hiked on Friday, pushing rates to fresh all-time record highs, according to a price notification of state-owned fuel retailers. In Delhi, petrol and diesel prices were increased by 29 paise and 27 paise, respectively. With the latest revision in the prices, petrol is now retailing at Rs 97.22 per litre and diesel is selling at Rs 97.97 in the national capital. Likewise, there’s no stopping petrol and diesel prices in Mumbai, which are retailing at Rs 103.36…

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Economic News 

Japan Inflation Gains for the First Time Since March 2020

By Administrator_ India Capital Sands Japan’s inflation edged into positive territory for the first time in 14 months as rising commodity costs fed higher gasoline prices at the pump, according to data that comes before a central bank policy decision later today. Consumer prices excluding fresh food ticked up 0.1% compared with a year earlier, lifted by a 20% jump in gas prices, the ministry of internal affairs reported Friday. Economists had predicted flat prices overall. While even the smallest uptick in inflation is likely to be seen positively by…

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Market 

Sensex Drops 300 Points, Nifty Below 15,700

By Administrator_ India Capital Sands The Indian equity benchmarks staged a gap-down opening on the back of weak global cues after US Federal Reserve stunned investors by signaling it might raise interest rates at a much faster pace than assumed, sending bond yields and the dollar sharply higher. The Sensex fell as much as 402 points and the Nifty 50 index fell below its important psychological level of 15,700. As of 9:21 am, the Sensex was down 270 points at 52,231 and the Nifty 50 index slipped 82 points to…

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Forex Analysis 

Dollar Slips From One-Month High Ahead of Fed Statement

By Administrator_ India Capital Sands The dollar edged marginally lower in early European trade Wednesday but remained near a one-month high as traders warily await the latest communications from the Federal Reserve following the recent jump in U.S. inflation. At 2:55 AM ET (0755 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was less than 0.1% lower at 90.468, having hit a one-month high of 90.677 on Tuesday. USD/JPY was largely unchanged at 110.06, near its two-month high of 110.325 touched earlier this month, GBP/USD was…

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Market 

Sensex, Nifty Open At Record Highs Led By Gains In Reliance Industries

By Administrator_ India Capital Sands The Indian equity benchmarks opened at new all-time highs on Tuesday led by gains in index heavyweight Reliance Industries, Infosys, HDFC Bank, ICICI Bank, HDFC, and Tata Consultancy Services. The Sensex rose as much as 234 points to hit an all-time high of 52,785.71 and the Nifty 50 index touched an all-time high of 15,878.75. As of 9:21 am, the Sensex was up 0.4 percent or 225 points at 52,777 and the Nifty 50 index advanced 63 points to 15,874. Hopes of faster economic recovery…

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Market 

Sensex Sheds Over 400 Points, Financial Stocks Trade Weak

By Administrator_ India Capital Sands The domestic stock markets have opened in the red, after closing at record highs on Friday, due to the emergence of profit-booking at high levels. At 9:30 am, the BSE Sensex was trading at 52,046.50, lower by 444.15 points or 0.88 per cent and the NSE Nifty was at 15,631.54, down 169.50 points or 1.5 per cent. The broader markets received a hammering in early trading, with the BSE Midcap index and BSE Smallcap index losing 2 percent and 1.6 percent respectively. The selling was…

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Forex Analysis 

Dollar Down Over Higher-Than-Expected Inflation Data

By Administrator_ India Capital Sands The dollar was down on Friday morning in Asia after the U.S. posted higher-than-expected inflation data in May. The USD/JPY pair inched up 0.08% to 109.40, with a new analysis saying another COVID-19 surge could come in Japan with or without the Olympics. The AUD/USD pair inched up 0.04% to 0.7755 as Australia is working on a quarantine-free travel corridor with Singapore. Across the Tasman Sea, the NZD/USD pair inched down 0.01% to 0.7195. The USD/CNY pair edged down 0.10% to 6.3865. The GBP/USD pair inched up 0.06% to 1.4182. Investors will be monitoring the…

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India Reports 94,052 New COVID-19 Cases India 

India Reports 94,052 New COVID-19 Cases

By Administrator_ India Capital Sands India reported 94,052 new COVID-19 cases and 6148 new deaths today. The country has so far reported a total of 2,91,83,121 cases and 3,59,676 deaths. India’s test positivity rate (positive cases identified for every 100 tests) continues to decline. It stands at 4.69 percent, the third straight day that it is below the 5 per cent-mark. Tamil Nadu reported 17,321 infections, followed by Kerala (16,204) Maharashtra (10,989) and Karnataka (10,959). The Nitish Kumar government on Wednesday reported that the number of deaths across the state…

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Stock Market 

Asian Stocks Mixed, Investors Await Further Inflation Clues

By Administrator_ India Capital Sands Asia Pacific stocks were mixed Tuesday morning, but moves remained small. Investors continue to await further clues on the inflation outlook as the global economic recovery from COVID-19 continues. Japan’s Nikkei 225 edged up 0.16% by 10:32 PM ET (2:32 AM GMT). The country released its GDP earlier in the day, which contracted 1% quarter on quarter for the first quarter of 2021. The contraction was smaller than the 1.2% contraction in forecasts prepared by Investing.com but the figure was lower than the previous quarter’s 2.8% growth. The GDP contracted 3.9% year-on-year,…

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Stock Market 

Toshiba to buy back 6% of shares

By Administrator_India Capital Sands Toshiba Corp said on Monday it will buy back up to 6% of its outstanding shares worth around 100 billion yen, in line with its plans to boost shareholder returns. The Japanese industrial conglomerate will also allocate about 50 billion yen to pay a special dividend as “some shareholders, mainly retail shareholders, prefer dividends”, it said in a statement. Toshiba, which has been under pressure from activist shareholders, last month promised to return to shareholders a surplus of 150 billion yen against the appropriate shareholder equity…

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