BUSINESS
Sensex falls over 1,400 points on new Covid-19 strain, 7 lakh crore market cap lost
The two key indices -- S&P BSE Sensex and NSE Nifty50 - fell by over 3 per cent. The day's carnage saw Sensex losing a total market capitalisation worth around Rs 7 lakh crore. It is speculated that 'Basket' selling by FPIs likely triggered the sharp fall in Indian markets. Foreign investors pulled-out liquidity worth Rs 323.55 crore on Monday.
Housing sales in 2020 fall 47% to 1.38 lakh units: Report
In 2019, overall sales across the major cities was nearly 2.61 lakh units. The new housing supply in 2020 declined by 46 per cent against the preceding year, nearly 2.37 lakh units in 2019 to nearly 1.28 lakh units in 2020. The Mumbai Metropolitan Region (MMR) and Pune were the showstoppers in overall residential activity in 2020.
New Covid-19 Strain Scare: Sensex dips over 1,400 points
Resultantly, India's equity benchmark indices fell the hardest in seven months. It is speculated that 'Basket' selling by FPIs likely triggered the sharp fall in Indian markets. Accordingly, both the key indices -- S&P BSE Sensex and NSE Nifty50 - fell by over 3 per cent on Monday.
Cognizant acquires Inawisdom to modernise data with artificial intelligence, machine learning
This marks Cognizant's ninth acquisition in 2020. The company has invested more than $1.1 billion this year alone for acquisitions in areas like data and artificial intelligence, digital engineering, Cloud and Internet of Things (IoT).
Securities and Appellate Tribunal notices to SEBI in 63 moons appeal against STP Gate order
The SAT has kept the matter for final hearing and disposal on January 29, 2021, a statement by 63 moons technologies said on Monday. It may be noted that the SEBI passed an order, rejecting the approval for providing STP Gate Services to 63 moons on the basis of ‘Fit & Proper' order that was passed by the Forward Market Commission (FMC) seven years ago.
GST Compensation Shortfall: 8th tranche of Rs 6,000 crore released to states
Out of this, an amount of Rs 5,516.60 crore has been released to 23 States and an amount of Rs 483.40 crore has been released to the three Union Territories (UT) with Legislative Assembly (Delhi, Jammu & Kashmir & Puducherry) who are members of the GST Council.
Sharp fall in market, Sensex plunges over 1,500 points
Across-the-board sell-off took place during the afternoon trade session, led by banking, finance and oil and gas stocks. Fresh Covid-related restrictions in several European countries and likely fallout in Brexit negotiations weakened the investor sentiments. Around 3 p.m. Sensex was trading at 45,404.63, lower by 1,556.06 points or 3.31 per cent from its previous close of 46,960.69.
SEBI has to approve scheme by FRL, Amazon objections not valid
Amazon's objections is no longer relevant for approval of Scheme by SEBI is the takeaway from the Delhi High Court order today. FRL Board Resolution approving Scheme and sale of business to Reliance is Valid and in accordance with statutory provisions -- not void as claimed by Amazon.
Equities flat amid volatility; auto, banking stocks plunge
Heavy selling was witnessed in auto, banking and oil and gas stocks. The indices traded on a subdued note on the back of a negative trend in the Asian markets. Around 12.05 p.m., Sensex was trading at 46,960.94, higher by just 0.25 points from its previous close of 46,960.69. It opened at 46,932.18 and has touched an intra-day high of 47,055.69 and a low of 46,693.95 points.
Reliance-BP new gas from KG-D6 to get capped at $4.06 by government
Even after having pricing freedom, sellers can't sell gas at a rate higher than the cap that the government notifies every six months. And the cap for six months to March, 2021 is USD 4.06 per mmBtu down from USD 5.61 in the previous six months, automatically making this the only amount Reliance-BP can charge for the remainder of the current fiscal year.
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