News Bulletin and Market Update: 13/10/2021

News Bulletin

▫️ Domestic flights can operate at full capacity from October 18.

▫️Centre has asked states to ramp up coal imports.

▫️TATA Motors EV arm to raise ₹7,500 crores from TPG Rise Climate, Fund.

▫️ Telecom Tribunal has put on hold TRAI’s attempt to encash bank guarantee of Airtel and Idea in the penalty case, until next hearing.

▫️Retail Inflation eased to 5-month low of 4.35% in September, owing to lower food prices.

▫️Covaxin gets SEC nod for the use in children aged between 2-18 years. DGCI approval is only awaited now.

▫️IMF expects Indian economy to grow by 9.5% in 2021.

▫️ Cabinet granted ₹28,655 crores subsidy on phosphatic and potassic fertilizers.

▫️ Mobikwik joined the unicorn club by being valued at $1 billion.

▫️RBI bans audit firm Haribhakti for 2 years.

▫️ Govt. launched 3rd tranch of commerical coal mine auctions.

▫️India is currently facing severe shortage of DAP fertilizer, which may hurt the ongoing rabi season.

▫️ Disinvestment of Container Corporation of India, may not happen by March’22, as the railway land usage policy is yet to be finalized.

▫️Power Grid Corporation to set up ₹14 crore investment in EV charging station.

▫️Audi begins local production of SUV in Aurangabad plant.

▫️ Evergrande Group missed its 3rd round of debt repayment, raising contagion fears.

▫️ US job openings decreased for the first time in 2021 in August.

▫️Centrum/Bharat PE receives Small Financial Bank license from RBI.

▫️Tata Power bagged solar power projects worth ₹538 crores.

▫️ONGC,Oil India and Sun Petrochemicals placed bids for 21 oil and gas blocks.

▫️Promoters may infuse ₹400 crores in Vodafone Idea.

Market Update

▫️ Indian markets witnessed a volatile session, as the indices extended gains for 4th straight session on account of buying in selective sectors.

▫️Sensex ended with a gain of 0.25% at 60,284. While, Nifty closed up by 0.26% at 17,991.95.

▫️Market Breadth was neutral with 917 advances against 912 declines. However, midcap and small indices outperformed the benchmark.

▫️ Sectorwise, FMCG, Consumer Durables, Power, Metal, Auto and Realty gained the most. Whereas, IT, Telecom, Utilities and Healthcare were on the losing side.

▫️ Ruppee declined for the 3rd day in a row. INR declined by 16 paise to end at 75.52 on fears of rising crude oil prices and stronger dollar.

▫️Gold prices moved up for the 6th consecutive day (trading above ₹47,200), as ruppee continued to slip.

▫️Oil Prices stayed firmly above $80 mark (WTI Crude), amid looming energy crisis.

▫️Fear of Stagflation haunted US Markets, which closed with a fall of more than 100 points (Dow Jones) yesterday.

▫️This morning US futures are trading flat with slightly negative bias. Asia has opened mix and SGX Nifty is trading with gain of 20 points.

▫️F&O Ban List: SUNTV, BANKBARODA, IBULHSGFIN, NATIONALUM, SAIL, PNB and IRCTC.

This is for educational purposes only.

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