▫️Foreign tourists may be allowed soon. Govt may provide free visa to lure tourists (+ve travel companies)
▫️ Vodafone Idea claimed record high speed of 3.5GB/second in 5G trials
▫️Shapoorji Pallonji to sell their controlling stake in consumer durable company Eureka Forbed foe ₹4,500 crores.
▫️Auto Sector to create 1 lakh additional jobs in next 1 year, thanks to government support measures.
▫️Copper imports rose by 26% in first quarter of FY22 (showing healthy consumption demand)
▫️Welspun India to invest ₹800 crores in capacity expansion.
▫️Central Government has urged states to reduce VAT charges on jet fuel. Many states has already reduces the VAT to 1% and saw increased airline traffic. (+Ve for airlines)
▫️Adani Group has entered into an agreement with subsidiary of world’s second largest container line to bid for Jawaharlal Nehru Port Trust Container Terminal.
▫️Indian markets touched their life time highs on Friday. However, it closed negative amid profit booking.
▫️Sensex and Nifty closed at 59,016 (-0.21%) and 17,585 (-0.25%).
▫️The volatility index surged by 5.68% to 15.23, reflecting cautious approach of investors.
▫️PSU Bank, Metals and Real Estate sectors saw heavy profit booking. While Finserv companies performed well.
▫️Market breadth turned negative, with advance:decline ratio of 486:1318. Further, Midcap and Smallcap indices fell more than the benchmark.
▫️Ruppee strengthened by 4 paise and closed at ₹73.48, amid weakness in dollar. On a weekly basis ruppee saw gain of 2 paise. Strong foreign inflows have helped the local currency to fare better.
▫️Brent Oil ended the week above the crucial $75 dollar mark, on account of supply disruption and positive demand outlook.
▫️Gold Prices declined for 3rd straight week and settled at 46k mark, on positive economic data and high US treasury yields.
▫️The market this week will remain cautious till the outcome of Fed meeting due on 22nd.
▫️US Markets ended negative after a broad sell of on Friday, amid growth concerns, bond tapering fear and rising US treasury yields.
▫️US futures are trading very low this morning, while Asia is also not looking good.
SGX Nifty is down by 50 points, indicating negative start for the week.
This post is for educational purposes only.