BUSINESS
Benchmark indices rise marginally, Sensex ends over 59,400
At close, Sensex ended up 130.18 points or 0.22 per cent at 59,462.78, while Nifty closed 39.15 points or 0.22 per cent higher at 17,698.15. On the BSE, 1,828 shares advanced, 1,563 shares declined, while 152 shares remained unchanged. BSE largecap ended 0.31 per cent up, while smallcap and midcap ended up 0.39 per cent and 0.15 per cent, respectively.
CPI inflation eases to 6.71% in July, IIP falls to 12.3%
Easing inflation can be attributed to price cuts on edible oil and easing commodity prices globally. Even though the CPI inflation has eased, it still remained above the Reserve Bank of India's (RBI) upper tolerance band. The overall goods inflation came in at 6.75 per cent as compared to 7.75 per cent in the previous month, while, inflation in vegetables was at 10.9 per cent in July.
Johnson and Johnson to stop selling and making talc-based baby powder globally
The healthcare firm has faced tens of thousands of lawsuits from consumers who allege its talc products, including the instantly recognisable brand of Johnson's baby powder, caused them to develop cancer. "As part of a worldwide portfolio assessment, we have made the commercial decision to transition to an all cornstarch-based baby powder portfolio," the company said in a statement, The Guardian reported.
49% Indian startups now from tier 2, 3 cities: Jitendra Singh
These startups from smaller cities are working in the fields like IT, agriculture, aviation, education, energy, health and space sectors, the Minister said while delivering keynote address at "DST StartUp Utsav" here. As per the latest data, there are currently 105 unicorns, out of which 44 were born in 2021 and 19 in 2022. "The decade 2021-30 is expected to bring transformational changes for Indian science, technology and innovation (STI)," said the Minister.
Rupee, bond yield ends almost flat ahead on long weekend
At the interbank foreign exchange market, the rupee ended at 79.66 against the US dollar, as against 79.64 at the close of the previous trading session. The 10-year benchmark 6.54 per cent-2032 bond yield ended at 7.2894 per cent, marginally higher than 7.2673 per cent close on the previous trading session.
India ranks 3rd in global startup ecosystem & number of unicorns, says Minister
Union Minister of State (Independent Charge) Science & Technology, Jitendra Singh while delivering a keynote address at 'DST StartUp Utsav' at Dr Ambedkar International Centre, said that Prime Minister Narendra Modi's special focus on Science, Technology and Innovation has fired the imagination of the youth in the country to innovate and solve problems with new ideas.
4.2 mn EVs sold in first half of 2022 globally, China leads
China alone witnessed the sale of 2.4 million EVs, 26 per cent of all passenger cars delivered in the country against just 10 per cent in the first half of 2021, according to latest Canalys research. EVs include 4.2 million electri (BEVs) and plug-in hybrid electric vehicles (PHEVs). "EV sales in Mainland China more than doubled in H1 2022 and it is now by far the biggest EV market. Fifty-seven per cent of global EV sales were in Mainland China. With 118 per cent year-on-year growth, it is the fastest-growing market as well," said Jason Low, principal analyst at Canalys.
Page Industries stock hit Rs 50,000 apiece on multi-fold jump in net profit
At 1.21 p.m., shares of Page Industries were trading at 49,103.00, up 91.00 or 0.19 per cent. On Thursday, Page Industries reported a multi-fold increase in its net profit in Q1FY23. The company reported net profit of Rs 207.03 crore, as against just Rs 10.94 crore in the same period last year. The revenue from operations during the quarter under review was at Rs 1,341.26 crore.
British economy contracts in Q2, stokes recession fears
The gross domestic product (GDP) fell by 0.1 per cent during the second quarter, dpa news agency quoted the Office for National Statistics (ONS) as saying. It is a big step down from the first quarter of the year, when GDP rose 0.8 per cent. The service sector was particularly badly hit, falling by 0.4 per cent over the quarter, ONS experts said.
OPEC further lowers forecasts for global economy and oil demand in 2022
The oil alliance said on Thursday in its monthly report that the world economy is expected to grow by 3.1 per cent in 2022, compared to its forecast of 3.5 per cent in the previous three months. Explaining the downward revision, OPEC cited "weaker second-quarter growth in the major economies and an observed soft trend in some key economies". In its May report, OPEC had already lowered its forecast for global economic growth this year from 3.9 to 3.5 per cent. This projection was maintained until July, Xinhua news agency reported.
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