News Bulletin: 20/6/22

▫️Centre’s advance direct tax collection in Q1FY23 jumped by 33% to Rs 1.01 trillion.

▫️RBI estimates digital payment transaction to triple by 2025.

▫️ Transport minister claimed that EV prices will soon be equivalent to petrol vehicles.

▫️ Finance Minister to review large NPAs and asset quality of PSB on June 20.

▫️Tata Motors EV arm to take possession of Ford’s plant in Gujarat.

▫️L&T Infotech is mulling option to open offices in multiple cities.

▫️ Vijay Shekhar Sharma, bought 170,000 shares of his company (PayTM).

▫️Kesoram Industries targets capex of Rs 350-500 crores in 3-5 years.

▫️TVS owned Norton plans UK built EV 2W.

▫️Coal India is looking at fresh and new techniques for coal underground mining.

▫️Non Life Insurers premium grew 24% year on year in May.

▫️L&T and Komatsu are looking for steady biodiesel supply for construction and mining activities.

▫️7.5 million active mobile subscribers became inactive in May due to rise in mobile tariffs.

▫️Crude Oil fell 6% after Fed’s hawkish stance to curb inflation.

▫️AC sales grew 30% year on year between Jan-Apr.

▫️The country crude oil output was up 4.6% year on year in May.

▫️Deltatech Gaming files for Rs 550 crore IPO.

▫️ Made in India smartphones shipment up 7% year on year in Q1.

▫️ Britain may face recession in 2 years: JP Morgan

▫️Bank credit grew 13.1% year on year for fortnight ended June 3.

▫️ HDFC Life to raise Rs 350 crore via bonds.

▫️ India’s import of Russian coal has jumped 6 times in last 1 month.

▫️150 Unacademy employees laid off.

▫️5G rollout to begin in Aug-Sep.

▫️ Moody’s upgrade baseline credit assessment for ICICI and Axis Bank.

▫️25% of Nifty 500 stocks are trading at 52 week low.

▫️Not easy for airlines in India to become profitable: IATA

▫️Ahead of 5G auction govt. will convert its debt into Vodafone to equity and hold 32% stake in the Company.

▫️ Omega Seiki to open e-3W plant in Pune.

▫️ Spicejet makes emergency landing after the plane caught fire immediately after take off.

▫️Wipro merged two of its business units.

▫️ Coal India to foray into aluminium production and solar power generation.

Advertisement

News Bulletin: 25/4/2022

▫️Traders are buying unusually large quantities of wheat in anticipation of shortage during coming months.

▫️Early onset of summer has been positive for consumer goods companies which are witnessing sharp rise in sale of summer related products.

▫️India and Canada have started negotiations on free trade agreement.

▫️Ola electric has recalled 1,441 scooters over repeated fire incidents.

▫️Indian corporates are witnessing significant margin pressure due to elevated commodity prices.

▫️ Indonesia has banned export of palm oil due to shortage. Therefore domestic edible oil prices may shoot up by 10-15%.

▫️Centre to dilute 3.5-5% stake in LIC IPO.

▫️ Eight European ministers to visit India this week.

▫️ Telecom companies may go for another tariff hike in May.

▫️ Induslnd Bank failed to sell off its Future Retail’s Rs 247 crore of loan exposure to Edelweiss Asset Reconstruction Company.

▫️ Exporters have now started receiving pending payments from Russia.

▫️Semi conductor shortage and supply chain disruption in China, have affected India’s automobile manufacturers. Currently, automakers have 750,000 car orders pending.

▫️Despite RIL-Future Deal getting called off, RIL will still occupy 947 Future Retail stores.

▫️India is facing power shortage as early onset of peak summer has heightened the power demand. Government is looking at various sources to elevate power supply.

▫️Global steel output fell for 9th month in March, due to Chinese lockdown. While India’s steel production has seen growth in March.

▫️In a suprise Bank of Baroda has reduced home loan interest rates to 6.50% from 6.75%.

▫️ One of the biggest global fund CDPQ is looking to invest in energy transformation projects in India.

▫️ICICI Bank posted highest ever quarterly net profit in March quarter, led by sharp rise in net income and lower provisions.

▫️Global tech major Fujitsu to double employee headcount in India in 12 months.

▫️India has crossed pre covid daily domestic air passenger count: Ministry of Civil Aviation.

News Bulletin: 5/4/2022



▫️ HDFC Ltd will be merged into HDFC Bank, creating second largest bank of India, after SBI.

▫️HDFC Ltd shareholders will get 1.68 shares of HDFC Bank for 1 share of HDFC.

▫️The merger will create immediate synergies and is viewed positively for the HDFC Group.

▫️ The main hurdle for the Group will be to obtain large number of regulatory approvals to complete the merger timely.

▫️LIC IPO to hit market in 2-3 weeks.

▫️Steep rise in manufacturing raw materials after Russia Ukraine crisis has dented the manufacturing activity. March Manufacturing PMI came at 54.0 compared to 54.9 in February.

▫️ Competition Commission of India has ordered a probe into Zomato and Swiggy’s business practices.

▫️Govt. is formulating a support policy for secondary steel producers.

▫️The coal ministry has appointed Crisil as consultant for floating the proposed coal exchange.

▫️ Govt. is conducting investigation to curb hoarding of edible oil and oil seeds.

▫️ India’s trade deficit rose to 88% in FY22, mainly due to surge in oil prices.

▫️L&T, Indian Oil Corporation and ReNew Power to form Joint Venture for green hydrogen business.

▫️ Vodafone Plc has raised stake in Voda Idea from 44.39% to 47.61%.

▫️Tata Power arm has commissioned a 300MW solar plant at Dholera, Gujarat.

▫️Two independent directors have resigned from Future Enterprises.

▫️ Jawaharlal Nehru port has registered a growth of 21.6% in container traffic in FY22.

▫️KPIT Technologies has partnered with multiple OEMs in auto sector to produce hydrogen from biomass.

▫️The latest hike in petrol and diesel prices may move freight rates by 2-3%.

▫️Bajaj Auto to go for price hikes to offset the rise in input costs.

▫️ Mangalore Refinery and Petrochemicals has bought 1 million barrels of Russian Crude Oil.

▫️ Goodman Sachs conducted research from insurance sector, believes US to soon enter into recession.

▫️Federal Bank’s deposits grew by 5.3% YoY, as of March 31.

▫️Hariom Pipe IPO subscribed 3.44 times.

▫️Elon Musk takes 9.2% stake in Twitter.

▫️Household expenditure increased for 62% of population in March.

▫️Sale of residential properties touched 4-year high in Jan-March quarter.

▫️New property prices in Maharashtra to be up 15% due to rise in construction material costs.

▫️Crypto trading volumes plunged due to higher tax imposition.

▫️Tata Power may pass on gas price hike to Mumbai electricity consumers.

News Bulletin: 28/2/2022


▫️ Inflation may overshoot RBI target, as Russia Ukraine crisis has led to unprecedented rise in oil and gas prices.

▫️ Finance ministry has said economic recovery will be severely impacted by geo political tensions.

▫️Airtel agreed to buy Vodafone’s 4.7% stake in Indus Towers.

▫️Adani Power won the suit against 3 power distribution companies in Supreme Court. The court ordered the distribution companies to pay Adani Power Rs 3,048 crores due along with interest since 2013.

▫️FDI inflows in equity during Apr-Dec period dipped 16%.

▫️The Free Trade Agreement signed between India and UAE, could help gems and jewellery export to reach $52 billion in FY23.

▫️ Jio and Vodafone have opposed the demand of satellite firms including Airtel, to allocate spectrum for satelite earth station gateway on an administrative basis.

▫️Crisil has upgraded Vedanta’s long term debt rating to “AA”.

▫️Indian refinery companies are hoarding up Russian crude oil, as they are available at cheaper prices.

▫️ Shriram Transport Finance raised Rs 900 crore via bonds.

▫️ Vedanta team visited Pune to survey the feasibility of setting up its chip plant.

▫️ The new 10 year, 6.54% Government Bond got fully subscribed in the weekly auction, for the first time since its launch on Jan 14.

▫️Non food credit growth slowed down to below 8% during first 15 days of February.

▫️NBFCs likely to report loan growth of 14% in FY23: India Ratings

▫️ Government agencies to procure record 44.4MT of wheat in the upcoming rabi season.

▫️From April 1, GST e-invoice mandatory for businesses with more than Rs 20 crore turnover.

▫️Tata in talks with Boeing and Airbus to acquire new aircraft for Air India.

▫️ India’s castor seed output in 2021-22 to beat last year’s output.

▫️Govt. approved FDI of 20% in LIC ahead of IPO.

▫️ Reliance Retail has taken over operations of over 200 stores of Future Retail.

▫️FMCG and Auto companies to wait until June for any price hike.

▫️ Future Retail suspended operations on all its stores, after takeover by Reliance Retail.

▫️States reported stellar capex growth of 52% YoY during Apr-Dec period.

▫️Russian Banks have banned from the SWIFT network. A big blow to Russia’s economy.

▫️ Russia and Ukraine talks have been planned in the Belarus border.

▫️ Aurobindo Pharma and Sun Pharma have recalled several products in the US due to deviation from standard manufacturing process.

▫️India cancels Rs 19,000 crore for connecting villages with broadband connectivity.

▫️British Petroleum to sell its 20% stake in Russian oil company Rosneft.

▫️PVR open to stream cricket on big scren.

▫️India and US discuss 30 armed drones deal.

News Roundup: 25/2/2022



▫️Russia declared full fledged attack on Ukraine.

▫️As a result, Indian benchmark indices fell by nearly 5% amid fears of rising crude oil and base metal prices.

▫️ Crude oil tops $105/barrel.

▫️ Indian retail fuel prices to hike significantly after the end of elections on March 7.

▫️Fuel price hike will hurt the price sensitive 2-Wheeler segment the most.

▫️Market crash may hinder the LIC IPO. However, government says LIC IPO is on track.

▫️Shipping costs may further rise, due to escalated geopolitical tensions.

▫️Indian government assured that they have comfortable fiscal space and alternative options for import of oil.

▫️India paid Rs 7,900 crore to Cairn India, in settlement of retro tax dispute.

▫️ Moody’s raised India growth forecast to 9.5% for FY22.

▫️ Government pushed 5G launch by August 15.

▫️HUL announced seperation of position of CEO and Chairman, in an attempt to strengthen its corporate governance standards.

▫️Jeep to bring premium SUVs in India.

▫️Airtel purchased stake in Blockchain tech startup Aqilliz.

▫️ Vedanta has launched low carbon aluminium brand.

▫️Wipro to open office in Brazil and hire 500 techies.

▫️Cadila Healthcare to be renamed as Zydus Lifesciences.

▫️Ola Electric plans 50GWh battery plant in India.

▫️IPL to start from March 26.

▫️Russia to face severe economic sanctions from NATO countries, as a result of its aggression against Ukraine.

▫️ Resultantly, Russian stock market fell as much as 45% intra day.

▫️Indian ruppee fell by 99 paise to 75.60 against dollar due to elevated geo political tensions.

▫️ Gold prices also touched 17 month high of Rs 52,797, as investors rushed to the safe heaven asset.

▫️Indian almunium exporters Nalco, Vedanta and Hindalco will benefit from the higher prices.

▫️SEBI postponed new margin rule implementation to May 2.

▫️ Government is aiming at 5% share in 3D printing global market.

▫️ RBI Governor announced inflation data shows room to maintain the accomodative stance.

▫️2W prices to rise 16-22% in 2 years.

▫️ Fitch ratings expects banks near term performance to improve gradually.

▫️Air India may order mutliple jets from Boeing and Airbus.

▫️ Induslnd Banks in talks to acquire IDFC Mutual Fund.

▫️Maruti Suzuki claimed that they can catch up in the EV space, even though they are not the first player.

News Roundup: 15/2/22

▫️ Government and RBI are working in sync on the crypto currency.

▫️Tata Sons appointed Ilker Ayci, former chairman of Turkish Airlines as the new CEO and MD of Air India.

▫️India Markets fell 3% yesterday, tracking global peers on rising geo political tensions between Russia and Ukraine.

▫️ Retail inflation touched 7-month peak of 6.01% in January. Wholesale inflation eased little bit but remained high at 12.96% in January.

▫️ Deadline to apply for textile PLI scheme has been extended till February 28.

▫️Govt. blocked 54 Chinese apps over security concerns.

▫️KAL Airways rejected Spicejet’s one time settlement offer of Rs 600 crores against all its dues.

▫️FY22 tax receipts may exceed government estimate of Rs 80,000 crore.

▫️ Vedanta has signed a joint venture with electronics major Foxconn to manufacture semiconductor in India.

▫️Jio partnered with Luxembourg based technology firm SES, to deliver satelite broadband services.

▫️ India’s palm oil imports decreased by 29% in January.

▫️Coal India announced dividend of Rs 5/share. Government to get Rs 2,037 crore as dividend from Coal India.

▫️Non power companies have complained to Coal India for 17% fall in coal supplies to them during Sep-Jan period.

▫️ Maharashtra government deferred its decision to sell wine in supermarkets.

▫️ Reliance Industries invested $200 million in Glance, a lock screen content company.

▫️Ashok Leyland is working on slew of alternative fuel vehicles such as LNG, CNG and HCNG.

▫️United States sources said that Russia could anytime invade and attack Ukraine.

▫️ International airlines to avoid Ukraine airspace amid rising tension.

▫️Sale of passenger vehicles slipped by 4.5% in China in January.

▫️ Ruppee slipped to 9 week low of 75.60 rising dollar and higher crude oil prices.

▫️ Axis Bank is set to buy Citi Bank’s $2.5 billion India Retail Unit.

▫️SEBI cancelled registration of 4 brokers and 11 depository participants.

▫️M&M is searching partner to tap into battery storage business.

▫️Covid third wave didn’t have material impact on India’s economic recovery: Nomura

▫️Daily covid cases fell sharply to 34,113.

▫️RBL Bank’s loan to bankrupt company Sintex is under scrutiny.

▫️Cipla promoters to sell up to 2.5% stake in the company.

News Roundup: 11/2/22



▫️ Finance minister assured that government will allocate more funds to rural employment scheme, if the demand for the scheme warrants.

▫️RBI kept key rates unchanged and is confident of successfully placing large government borrowing plan in FY23.

▫️RBI forecasted inflation at 4.5% and GDP Growth at 7.8% in FY23. The Central Bank also warned against investment in crypto currency.

▫️ Supreme court asked KAL to consider Rs 600 crore offer by Spicejet as full and final for all its dues.

▫️ Government has eased Covid rules for international travellers.

▫️ Government is working on proposal to relax rules to facilitate large scale exports of gems and jewellery.

▫️US is considering new China tarrif probe.

▫️ Government is using more than 5,000 EVs in its agencies.

▫️Airtel launched new video streaming service “Airtel Xstream Premium” at introductory price of Rs 149/month.

▫️TCS’s AI platform is now available on Google Cloud.

▫️ Torrent power to acquire 25MW solar plant.

▫️Hindalco is considering expansion of its aluminium producing capacity as global shortage and strong demand pushed prices to record high.

▫️Ola is eyeing acquisition of a NBFC to expand its financial services footprint.

▫️RIL to acquire stake in EV tech firm.

▫️US inflation touched 7.5% in January, highest in 40 years.

▫️Iphone assembler has claimed that semiconductor and parts shortage problem has started to ease.

▫️ Liquidity window for emergency health services has been extended till June.

▫️RBI to soon come out with digital lending guidelines.

▫️Share of retail investors in listed equity companies reached record high of 7.32% in December.

▫️Bank credit grew strong 8.21% and deposits 8.31% in fortnight ended on January 28.

▫️ Satellites launched by Elon Musk backed Space X fell out of orbit due to solar storm.

▫️Bond market cheered the RBI’s no rate hike decision as price of 10-year government securities increased by 50 paise to Rs 95.33.

▫️M&M may split of its farm equipment segment to taper more growth opportunities.

▫️Sharechat to acquire MX Taka Tak in a $700 million deal.

▫️ Government has planned capex of Rs 91,000 crore for airport infrastructure.

▫️Share of natural gas in energy mix rose to 6.7% in 2021 from 6.3% in 2020.

▫️ Government to ban drone imports to boost local manufacturing.

▫️ Persistent Systems to buy Data Globe for $90.5 million.

▫️ India’s smart watch industry witnessed highest ever growth in 2021.

▫️ Petronet LNG, operator of world’s largest natural gas import terminal to invest Rs 40,000 crore in capacity expansion.

News Bulletin: 9/2/22

News Bulletin

▫️Indian Banks wrote off bad loans worth ₹38,974 crore in Q3’FY22.

▫️Hyundai Pakistan’s derogatory tweet for Kashmir received strong retaliation from Indian Government. South Korean Finance Minister expressed regret and apology to Indian government.

▫️LIC may file DRHP today with SEBI for IPO.

▫️Tata Steel has put of plans to divest European businesses as they are self sustainable.

▫️Adani Power has dropped Rs 10,000 crore compensatory demand from Gujarat Urja Vikas Nigam Limited.

▫️Bank fraud cases have jumped to 1.45 lakh in FY21 from 1.35 lakh in FY20.

▫️ Government received Rs 914 crore from GAIL as dividend.

▫️Vedanta will not undertake any corporate restructuring.

▫️TVS Motors to roll out full portfolio of EVs in next 8 quarters.

▫️Ashok Leyland launched new CNG Goods Vehicle.

▫️SJVN has signed a MOU to develop 10,000 MW Solar Power Project in Rajasthan.

▫️Wockhardt gets approval to export 10 crore Sputnik vaccine.

▫️ Mahindra Lifespace to offer Rs 3-5 lakh health insurance to home buyers in its projects.

▫️Gautam Adani overtakes Mukesh Ambani as Asia’s richest person.

▫️RBI begins 3 day monetary policy meet to decide on key rates.

▫️New business premium of life insurance companies grew by 3% during January’22.

▫️ Treasury income of Banks fell due to sharp rise in government bond yields.

▫️Coin DCX, Bitcoin trading platform has claimed they have 1 crore users on its platform.

▫️Inox Green Energy files Rs 740 crore IPO papers.

▫️Spain ends mandate to wear masks.

▫️ Maharashtra is aiming at record sugar output this season.

▫️ According to Naukri job index hiring rose by 41% in January’2022.

▫️ European Union joins semiconductor chip race with an investment of $43 billion.

▫️ Domestic air traffic dipped 43% in January, due to spread of omicron variant.

▫️Zerodha becomes second largest shareholder of BSE after LIC.

▫️Tata Group has opted out of Rs 18,100 crore PLI scheme for EV batteries.

▫️Tata Steel to set up mini steel recycling plants.

▫️IDFC First Bank raised Rs 1,500 crore via Tier 3 bonds.

▫️Canada to introduce pricing reforms for drugs, this may help Indian pharmaceuticals firm.

▫️ BlackRock flags concern over accounting discrepancies in Spicejet.

▫️ Swiggy is in talks to acquire table booking app Dineout.

▫️PUBG Creator Krafton to build AI powered virtual humans.

Investment Outlook for 2022

Just a few days/weeks back, we all were looking forward to the New Year with a lot more energy and optimism as the situation was becoming stable; the spread of Coronavirus was brought under control through a nationwide vaccination programme. But who would have thought, an altogether new guest was knocking at the door, wanting to celebrate the welcoming of 2022 together!!! (You got it right, it’s OMICRON)

Not the ideal start to the New Year as one would have liked, with some cities putting a complete ban on New Year celebrations while others restricting people’s gathering. But amidst all this, we are hopeful that 2022 will be far better than 2020 and 2021 as we are in a much better situation in dealing with these mutations of the virus!

We are witnessing a dynamic change in the macro-environment around the world as we head into 2022 along with Omicron!

Rising crude prices, soaring inflation has been the talk of the town in the last few months. Supply-side disruption coupled with pent up demand has resulted in prices of various commodities skyrocketing leading to new records in some countries like the US with regards to Inflation!

Could inflation play a spoil-sport for the markets in 2022? Well, we believe that given an almost one-sided rally in the last two years, markets need a breather! Inflation is one development that could make the markets pause for some time.

Let’s talk more about what can we expect from equities as well as other asset classes in 2022:

Equity – Right after the pandemic hit us for the 1st time, we have seen a stupendous rally in the Global Markets as well as our Indian Stock Market. Thanks to the unabating liquidity being poured into the financial system by the Central Banks around the world, coupled with ultra-low interest rates. The sheer number of “Multibaggers” that have emerged in the last two years is a reflection of how strong a rally it has been.

A moot question is whether this kind of rally will continue going ahead?

We believe that those days of multi-bagger return with any stock will be a distant dream as we step into 2022. As said above, Inflation could play a spoil-sport and we may not see such high returns. With Inflation coming into the limelight, Central Banks around the world have been forced to ponder over the clawback of easy money that they have pumped into the financial system. Also, rising inflation means interest rates can’t stay at the level they are at right now. They will have to rise to curb easy money albeit gradually, going ahead.

Rightly so, the Federal Reserve has indicated that it would hike rates three times next year to cope with surging inflation. As of now, the Reserve Bank of India has kept its stance accommodative with full support for growth. But, with inflation rising continuously MoM, they may be tempted to ponder over their stance!

Gold – This could be the year for the yellow metal! Gold has traditionally been a good hedge against inflation and this year it could prove its mettle by preserving your purchasing power. Additionally, Gold has been rangebound this year, ending with negative returns (~5%). So, given the current development, we can see some positive upside from Gold this year.

Crude Oil – After witnessing a nightmare H1CY20, Crude oil has been on a strong uptrend. This year saw Brent Crude going past $80/barrel – last seen in August 2018, to touch a high of $86.7/barrel. Gradual reopening of the economy after stringent lockdowns bolstered the demand for oil. Going into 2022, there could be some short-term hiccup due to Omicron. But as things normalize and travel comes back in full force, we could see oil trending upwards. The Organization of the Petroleum Exporting Countries (OPEC) has raised its world oil demand forecast for the first quarter of 2022 and expects oil demand to average 99.13 million barrels per day (BPD) in the first quarter of 2022.

Bonds – Interest rates are expected to go up to combat inflation. Against this backdrop, floating-rate bonds and TIPS could work well in 2022. However, long-duration bonds are expected to underperform in a rising interest rate environment. With economic growth coming back on track, investors credit spreads are expected to narrow down which could lead to money flowing into some High Yield Corporate Bonds as against Investment Grade bonds.

Cryptocurrency – The newest asset class has finally found a place in our annual prediction, as the total market cap of all digital currencies reached $2.34 trillion (equivalent to the GDP of the entire African continent). However, this is a very difficult asset class to forecast. Bitcoin touched an all-time high of $67,582 and slumped to a low of $28,804 in 2021. Energy efficiency, adoption and regulation drive the price of cryptos. We are no experts in crypto, but we continue to expect volatility, as crypto traders are offered as much as 100 times leverage for trading. Crypto lovers have predicted bitcoin to touch $200,000 in 2022, while critics expect the price to fall as much as $4,000. You can decide on whose team you are!

Final Verdict: “Asset allocation will be key for successful investment in 2022

News Bulletin and Market Update: 18/10/2021

News Roundup

▫️India Inc. Q2 results till now suggests handsome economic recovery on all major areas.

▫️State government has maintained strong capital expenditure during the first 5 months of FY22, on back of higher tax revenues.

▫️ Infrastructure tender activity grew by 22% in Q2, led by roads, power distribution and equipment sector.

▫️The government is planning a major revamp of textile industry.

▫️Surge in natural gas prices have raised input cost of certain industries exponentially. These firms may resort to increase their output prices.

▫️Coal India clarified that it has not completely stopped the supply of coal to non-power companies, rather it has regulated the same.

▫️Global iron ore prices have cooled down from $214 per tonne in June to $125 per tonne in October. However, supply side crunch is still there.

▫️Firms reported a bumper start to festive season in Navratri, with double digit growth in consumer durable segment.

▫️So far in October, FPIs have pulled out ₹1,472 crores from equities as ruppee depreciated.

▫️ China’s energy crisis will be a blessing for Indian chemical and steel firms.

▫️Petrol and Diesel prices have touched record highs, after subsequent price hikes, and now costs 30% more than jet fuel.

Market Update

▫️Indian markets were closed on last Friday, on account of Vijay Dashmi Holiday. On Thursday, markets ended on a positive note, backed by positive global cues and swift domestic economic revival.

▫️Sensex soared by 0.94% to end at closing peak of 61,306. While Nifty surged by 0.97% to new closing lifetime high of 18,338.

▫️ However, market breadth was in favour of bears, as advance decline ratio stood at 889:940.

▫️All sector indices ended in positive territory, except Auto which is severely affected by chip shortage. Banking, Financial Services and Metal gained the most during the session.

▫️Ruppee recovered for the 2nd consecutive session, with a gain of 11 paise and closed at 75.26.

▫️Gold prices continue to rise and is close to touching the ₹48k mark, backed by festive season demand and inflation worries. Further, gold imports jumped multifold to $24 billion in Apr-Sep.

▫️ Crude oil prices have rise sharply, led by fast economic revival and surge in prices of other forms of energy. WTI Crude is now trading above $82.5 mark.

▫️Dow Jones closed with gain of more than 100 points on Friday, on account of positive economic data.

▫️ Today morning Dow Futures are mostly flat. Whereas Asia is trading mixed, followed by slightly weak SGX Nifty.

▫️F&O Ban: IRCTC, IDEA, IBULHSGFIN, BHEL, SUNTV and BANKBARODA.

This post is for educational purposes only.