BUSINESS
Markets to remain volatile and choppy
At the end of the three-days and Muhurat trading, BSESENSEX gained 760.69 points or 1.28 per cent to close at 60,067.62 points. NIFTY gained 245.15 points or 1.39 per cent to close at 17,916.80 points. The Indian Rupee gained 42 paisa or 0.56 per cent to close at Rs 74.46 to the US Dollar. Dow Jones had a good week and posted new closing highs and intra-day highs
Foreign Fund Flow: Rupee to gain strength on likely return of FIIs
Accordingly, the rupee is likely to touch the 74 to a USD mark during this period. The FIIs have been on a selling spree in India's equity market, however, the rate of off-load has significantly come down during the last few sessions. On last Thursday, during the hour-long 'Muhurat Trade Session', FIIs sold just Rs 328.11 crore worth of stocks on the BSE, NSE and MSEI in the capital market segment.
Pakistan takes costliest ever LNG to avert gas crisis
The Pakistan LNG Limited (PLL) had floated emergency bids for two cargoes to be supplied in November, as the firms involved, Gunvor and ENI, had defaulted on their commitments. The PLL has short- and long-term agreements with Gunvor and the ENI for one LNG cargo each every month, but both suppliers refused to honour their part of the agreements.
Automakers reveal plans to go all-electric in 2021, COP26 a booster
With Renault in June, Mercedes-Benz and Stellantis in July, to name a few, 2021 has become the year when mainstream automakers solidified their intent to become "all-electric" and transition further towards electrification.
CV volumes set to pick up on economic revival
According to the agency, the ease in restrictions on movement of goods by various state governments and the recovery in the core infrastructure sector continued to remain positive for the CV industry. On sequential basis, the agency said that total sales of all the four CV manufactures showed an encouraging 14 per cent MoM growth in October 2021 compared against September 2021.
US workforce impaired by Covid-19, guns, drugs
Nearly 900,000 people left their jobs at hotels and restaurants, while another 1.3 million quit retailers, and healthcare and social assistance employers, Labor Department data showed. Since the outbreak of the pandemic, some 747,000 Americans have died of the coronavirus as of November 4, according to the Centers for Disease Control and Prevention (CDC).
Wall Street reaps weekly gains amid Fed announcement, economic data
For the week ending Friday, the Dow rose 1.4 per cent, the S&P 500 increased 2 per cent, and the tech-heavy Nasdaq rallied nearly 3.1 per cent, Xinhua news agency reported. The S&P US Listed China 50 index, which is designed to track the performance of the 50 largest Chinese companies listed on US exchanges by total market cap, logged a weekly decline of 0.7 per cent.
Petrol, diesel price rise on pause after duty cuts
Accordingly, petrol and diesel prices remained unchanged for the third consecutive day on Sunday under the daily price revision mechanism followed by oil marketing companies. So, the pump price of petrol in Delhi, which fell to Rs 103.97 a litre at 6 a.m. on Thursday from previous days level of Rs 110.04 a litre, remains at the same level onSunday.
Bumper Diwali Sales: Not revenge buying but sustainable demand, says CAIT
Explaining in detail the reasons behind the whopping Rs 1.2 lakh crore worth of sales recorded this Diwali season, CAIT's Secretary General Praveen Khandelwal told IANS: "Pent-up demand, as well as lesser Covid related restrictions and more choices, were some of the reasons behind this year's bumper Diwali sales, which broke a 10-year record.
Real GDP expected to grow at 8-9% YoY in Q2FY22
The real GDP is the inflation adjusted figure of all the finished goods and services produced in a country within a specific time period. In a report, MOFSL said its in-house estimates suggest India's real GDP grew at 8-9 per cent YoY in Q2FY22, marginally higher than "our expectations".
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