BUSINESS
Equity indices settle in red, Tata Steel among top losers
Notably, the indices opened the session on a positive note. The barometer 30-scrip Sensex closed at 57,064 points, down by 195 points or 0.34 per cent from its previous close. Similarly, the broader 50-scrip Nifty closed the day at 16,983 points, down by 71 points or 0.4 per cent from its previous close. In terms of stocks, shares of Tata Steel, Kotak Mahindra Bank, JSW Steel, Adani Ports and Bajaj Auto were the top losers
Reliance Capital welcomes RBI move to resolve company's debt in accordance with IBC Code
The Company will cooperate fully with the Administrator appointed by the RBI for the expeditious resolution of its debt in the best interests of all stakeholders, statement said. The complexity of litigation initiated by certain secured and unsecured lenders, resulting in the pendency of over 10 cases in various fora, including the Supreme Court, Mumbai High Court, Delhi High Court and DRT, has effectively stalled the resolution of the Company's debt, despite its best efforts for the past over 2 years, the company said.
Equity indices rise in early trade; Sensex up 0.6%
At 9.30 a.m., the S&P BSE Sensex traded at 57,620 points, up 0.62 per cent. It opened at 57,272 points from the previous close of 57,260 points. Till now it has touched a low of 57,252 points. Besides, the broader 50-scrip Nifty at the National Stock Exchange (NSE) opened at 17,055 points after closing at 17,053 on Monday.
Oil marketing companies keep diesel, petrol prices unchanged
It is noteworthy to mention here that prices of the petrol and diesel have been untouched post the revision of duties by the Centre and state governments in early November. Accordingly, diesel and petrol prices in Delhi remained static at Rs 86.67 per litre and Rs 103.97 per litre, respectively on Tuesday.
PhonePe 'SafeCard' enables businesses to implement tokenisation easily
This solution is in compliance with the recent RBI guidelines. PhonePe SafeCard enables businesses to offer tokenisation on their own platforms via a simple API integration. With this solution, businesses can create, process, delete and modify tokens for online card payments with a customers' consent, the company said in a statement.
Pakistani rupee falls to all-time low against $US
The US dollar closed at 175.46 rupees on Friday, and on Monday opened higher, after the local currency devalued by 0.74 rupees, or about 0.42 per cent, the official figures showed. The Pakistani rupee has started suffering depreciation against the greenback since May 2021 when it started surging from 152.27 rupees, Xinhua news agency reported.
$US reverses losses as risk sentiment improves
The dollar index, which measures the greenback against six major peers, rose 0.30 per cent at 96.3315 in late trading, Xinhua news agency reported. US President Joe Biden on Monday said, "Sooner or later, we're going to see cases of this new variant in the US. This variant is a cause for concern, not a cause for panic."
Fiscal Push: India's Q2FY22 GDP growth seen between 7-9%
Besides, rise in service activities amid further improvement in mobility and increased government spending will support the trend, industry watchers said. Economy watchers contend that accelerated vaccination drive along with easing of Covid restrictions has brightened consumers' sentiments. The expected rise in agricultural output on the back of a healthy rainy season during the July-September period should boost the GDP growth to anywhere between 7 per cent and 9 per cent.
No proposal to recognise Bitcoin as currency, says Sitharaman
Finance Minister Nirmala Sitharaman, in a written reply in the Lok Sabha, also said that the government does not collect data on Bitcoin transactions. Bitcoin is a form of digital currency which allows people to buy goods and services among others. In the ongoing winter session of Parliament, the Centre aims to table the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, through which it seeks a ban on all private cryptocurrencies.
Value buying lifts equity indices, IT stocks rise
The two indices made marginally gains after an early morning sell-off which was triggered by the fears of the Omicron variant of coronavirus. The indices had opened on a lower mote and soon after made an intra-day bottom. Globally, Asian stock markets fell further on Monday after the Omicron variant was found in more countries and governments imposed travel controls.
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