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.


This is for educational purposes only.

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