December 2, 2020 by BizWhiz Admin in Economy Snapshot 0 comments 345

General News

  • Global COVID-19 cases cross 63.5 million mark with 1.4 million deaths; US cases pass 13.9 million.
  • India’s caseload crosses 9 million mark with recovery rate reaching 93.94%.
  • Centre rushes high level teams to Haryana, Rajasthan, Gujarat, Manipur to contain spread of COVID-19.
  • MHA issues new COVID-19 guidelines from Dec 1, gives nod to states and UTs to impose local restrictions.
  • Delhi gets its first vaccine storage facility at Rajiv Gandhi Super Speciality hospital.
  • PM Modi announces $1 million aid to COVID-19 response fund at ASEAN summit.
  • PM Modi urges respect for others’ sovereignty, territorial integrity at virtual SCO summit.
  • East Asia Summit 2020: India expresses concern over actions that erode trust in South China Sea.
  • PM Modi addresses G-20 summit; calls for new Global Index for post-Corona world.
  • BRICS nations adopt new counter-terrorism strategy to effectively deal with the menace.
  • India, Luxembourg ink 3 pacts to push investment ties in their maiden summit in two decades.
  • India and Italy ink 15 agreements, unveil action plan to further strengthen defence ties.
  • S Jaishankar meets Abu Dhabi Crown Prince, discusses the strategic cooperation between India and UAE.
  • NSA Ajit Doval participates in trilateral talks with Sri Lanka and Maldives.
  • Centre releases ₹2,200 crore as first instalment to 15 states for improvement of air quality.
  • Centre approves ₹4,382 crore as calamity assistance to six states.
  • Nitish Kumar becomes Bihar’s CM for 4th straight term; BJP’s Tarkishore Prasad, Renu Devi as Deputy CMs.
  • BJP sweeps Assembly bypolls; BJP wins 41 out of 59 bypoll seats.
  • Madhya Pradesh govt announces formation of ‘Cow Cabinet’ for protection of cows.
  • CM Yogi Adityanath dedicates power projects worth ₹216 crore to Gorakhpur.
  • Punjab CM virtually inaugurates 1467 smart schools, distributes 2625 tablets in govt primary schools.
  • General Naravane conferred with the honorary rank of ‘General of the Nepal Army’ by Nepal President.
  • Second batch of three Rafale fighter jets arrive in India after flying non-stop from France.
  • Indian and Chinese armies conclude 8th round of military talks.
  • India successfully test-fires Quick Reaction Surface-to-Air Missile system in Odisha’s Chandipur.
  • Land-attack version of BrahMos supersonic cruise missile successfully testfired.
  • PSLV-C49, carrying India’s earth observation satellite EOS-01 and 9 others, lifts off from Sriharikota.
  • Farmers from Punjab, Haryana protest in Delhi against the Centre’s new farm laws.
  • UGC issues guidelines for reopening of Universities & Colleges across country.
  • Congress veterans Ahmed Patel, Tarun Gogoi, TCS founder FC Kohli and Diego Maradona passed away.
  • Republic TV’s Arnab Goswami arrested in 2018 suicide abetment case, SC grants interim bail.
  • VK Sasikala pays ₹10 crore fine in disproportionate assets case.
  • US polls 2020 generated highest voter turnout of 66.9%, the highest turnout rate since 1900.
  • Joe Biden elected as 46th president of United States with Kamala Harris as his deputy.
  • US President-elect Joe Biden unveils economic plan; formal transition of power to Biden begins.
  • US officially ends participation in Open Skies Treaty; formally exits global climate pact.
  • Trump bans US investment in Chinese military-linked firms.
  • Mike Pompeo meets Afghan government officials, Taliban representatives in Doha.
  • US approves $600 million sale of armed MQ-9 Reaper drones to Taiwan.
  • Barack Obama memoir ‘A Promised Land’ sells more than 887,000 copies on first day.
  • England enters into new month-long lockdown as UK virus cases pass 1 million.
  • House of Lords rejects Boris Johnson’s treaty-breaking Brexit laws.
  • UK announces biggest military investment since Cold War.
  • Jacinda Ardern sworn in for second term as New Zealand Prime Minister.
  • Australia and Japan agree ‘in principle’ to historic defence pact.
  • Aung San Suu Kyi’s party wins absolute majority in Myanmar polls.
  • 1 million Chinese injected with Sinopharm vaccine under emergency use scheme.
  • Anti-French protests erupts worldwide following President Macron’s recent comments about Islam.
  • Chinese Communist Party unveils plan to make PLA on par with US military by 2027.
  • Chinese President Xi Jinping orders advancing construction of rail line in Tibet, close to Arunachal Pradesh.
  • Armenia, Azerbaijan and Russia sign Nagorno-Karabakh peace deal.
  • Bahrain’s long-serving PM Khalifa bin Salman Al Khalifa dies, Crown Prince named new PM.
  • Pakistan parliamentary committee passes China-Pakistan Economic Corridor (CPEC) Authority Bill.
  • IPL 2020: Mumbai Indians beats Delhi Capitals to win 5th title, Rahul takes home Orange Cap, Kagiso Rabada ends with Purple Cap.
  • AUS vs IND : Australia take an unassailable 2-0 lead in the three-match series.
  • BCCI announces MPL as the new apparel sponsor for Indian cricket team for three years.
  • Jio named title sponsor of BCCI’s Women’s T20 Challenge.
  • Shane Watson formally announces retirement from all forms of cricket.
  • Australia replace India at the top spot in World Test Championship after ICC’s altered point system.
  • Rafael Nadal wins 1,000th ATP Tour match with Paris Masters victory.
  • Daniil Medvedev beat Dominic Thiem to win ATP Tour Finals in London.
  • Argentinian football legend Diego Maradona dies at 60 after suffering heart failure.

 

Business News

  • Centre transfers ₹6,000 crore as 2nd tranche to 16 States, 3 UTs for meeting GST Compensation shortfall.
  • GST e-invoicing mandatory from January 1, 2021 if turnover exceeds ₹100 crore.
  • PM Modi renames Shipping Ministry to ‘Ministry of Ports, Shipping and Waterways’.
  • Govt makes use of FASTag mandatory for all four wheelers from Jan 1, 2021.
  • Cabinet gives in-principle nod to Production Linked Incentives (PLI) in 10 sectors.
  • Govt launches Aatmanirbhar Bharat Rozgar Yojana to incentivise job creation during Covid recovery phase.
  • Centre okays ₹107.42 crore grant for 28 food processing projects in 10 states.
  • India set to become global powerhouse: PM Modi chairs virtual global investor roundtable.
  • Tamil Nadu bans online gaming, ₹5,000 fine, imprisonment for violators.
  • 50% subsidy on air transportation for fruits & vegetables from North-Eastern & Himalayan states.
  • PM Modi & his Bhutanese counterpart jointly launches RuPay Card phase-2 in Bhutan.
  • Centre brings Digital news portals, OTT platforms under govt regulation.
  • Govt blocks 43 more mobile apps, including AliExpress, Alipay Cashier and CamCard.
  • All fixed to mobile calls to be dialled with prefix ‘0’ from Jan 15, 2021.
  • Govt provides ₹670 crore support to Regional Rural Banks to meet regulatory capital.
  • RBI lifts restriction on Equitas Small Finance Bank for opening of new branches.
  • ICICI Bank first private lender to surpass ₹2 trillion in mortgage loan portfolio.
  • Cabinet approves Lakshmi Vilas Bank & DBS India merger.
  • IRDAI approves HDFC ERGO Health-HDFC ERGO General Insurance and Bharti AXA-ICICI Lombard mergers.
  • Markets soar to record high; Sensex tops 44,000 and Nifty crosses 13,000 level.
  • Equitas Small Finance Bank and Gland Pharma make their stock market debut.
  • Bharat Biotech starts Phase III trials of COVAXIN.
  • Pfizer ends vaccine trial with 95% success rate, to apply for approval soon.
  • AstraZeneca’s phase 3 interim data shows vaccine 90% effective at lower dose.
  • Hetero to manufacture 100 million doses of Sputnik V for India.
  • Will work in a public-private partnership to ensure availability of COVID healthcare: Piyush Goyal.
  • Regeneron, given to Trump, gets emergency US clearance for COVID-19 therapy.
  • Nirav Modi extradition case: UK judge admits CBI, ED evidence.
  • TRP scam: Centre forms 4-member committee to review guidelines on television ratings.
  • 15 Asian nations sign huge China-backed RCEP trade pact, excluding India and US.
  • Britain and Canada agree post-Brexit rollover trade deal.
  • Bank Of England keeps interest rate unchanged at 0.1%; injects extra £150 billion into economy.
  • US Fed keeps its interest rate unchanged 0.25%, says economy is still well below pre-pandemic levels.
  • US Senate unveils $1.4 trillion spending bill amid post-election turmoil.
  • EU parliament, govts finalise 2021-2027 budget, £1.6 trillion recovery package.
  • Japan’s economy exits recession as GDP grows 5.0% in Q3.
  • China publishes draft competition rules for online platforms.
  • Ant Group’s record $37-billion IPO suspended in Shanghai, Hong Kong citing ‘major issues’.
  • Bitcoin climbs towards all-time high after topping the $19,000 mark.
  • Wipro announces collaboration with Cisco.
  • Infosys, ATP extend digital innovation partnership for 3 years.
  • Qualcomm receives US permission to sell 4G chips to Huawei in exception to ban.
  • Huawei sells its Honor smartphone division for $15-billion to Shenzhen govt, Digital China, others.
  • iPhone maker Pegatron approves ₹1,110 crore initial investment for a new factory in India.
  • MediaTek acquires Intel’s power-management chip business for $85 million.
  • Ashok Leyland floats new subsidiary Vishwa Buses and Coaches.
  • Fiat Chrysler, PSA win Brazil antitrust approval for merger.
  • Porsche and Embraer team up for world’s first matching set of a Jet and Supercar called ‘The Duet’.
  • UK to ban sale of new petrol and diesel cars from 2030.
  • Harley-Davidson to continue India operations January 2021 onwards.
  • Boeing’s 737 Max allowed to fly two years after deadly crashes.
  • Korean Air to buy indebted Asiana, emerging as world’s 10th-largest airline.
  • SpaceX Crew Dragon launches 4 astronauts to space station in 1st operational flight for NASA.
  • Virgin Hyperloop hosts first human ride on new transport system at over 160 kmph for the first time ever.
  • Google enters air terminal retail through tie up with startup Airbuy.
  • Amazon launches Amazon Pharmacy, a delivery service for prescription medications.
  • Amazon Web Services to invest $2.77 billion in Telangana for data centres.
  • Public Investment Fund (PIF) of Saudi Arabia to invest $1.3 billion in Reliance Retail for 2.04% stake.
  • ADIA, PIF to pump in $1.01 billion in RIL’s fiber assets business.
  • Jio Platforms gets ₹33,737 crore from Google for a 7.73% stake.
  • Reliance Retail picks up 96% stake in Furniture Retailer Urban Ladder for ₹182.12 crore.
  • Western Union buys 15% stake for $200 million in Saudi Telecom’s STC Pay unit.
  • WhatsApp payments service gets NPCI nod for roll out in India for upto 20 million users.
  • TikTok signs deal with Sony Music to expand music library.
  • TikTok sell-by date extended to December 4 by the US Treasury.
  • CCI clears Reliance-Future Retail deal despite Amazon’s objections.
  • PUBG parent Krafton signs deal to host the game on Microsoft Azure.

 

Q1 Results

  • ICICI Bank Q2 net profit rises over 6-folds to ₹4,251 crore, total income stood at ₹23,650.77 crore.
  • HDFC’s Q2 net profit falls 27% YoY to ₹2,870 crore; revenue rose to ₹13,017.68 crore.
  • SBI Q2 profit surges 52% to ₹4,574 crore, NII increases 14.6% to ₹28,181 crore.
  • Sun Pharma Q2 net profit up 70% at ₹1,813 crore revenue from operations stood at ₹8,553.13 crore.
  • Ashok Leyland posts ₹147 crore loss in Q2, revenue down 28% YoY at ₹2,837 crore.
  • ITC Q2 PAT declines 20% to ₹3,232 crore, revenue from operations rose a mere 0.1% to ₹11,976.75 crore.
  • M&M Q2 Profit dips 3% YoY to ₹1,311 crore, revenue increases 6% to ₹11,590 crore.

 

WORLD INDICES
Indices 30-Nov 30-Oct % 1M 01-Jan % since Jan
BSE 44150 39614 11.45% 41306 6.88%
NSE 12969 11642 11.39% 12183 6.46%
DOW 29639 26502 11.84% 28538 3.86%
NASDAQ 12199 10912 11.80% 8973 35.96%
FTSE 6266 5577 12.35% 7542 -16.92%
Nikkei 26434 22977 15.04% 23657 11.74%
Hang Seng 26341 24107 9.27% 28190 -6.56%
Straits Times 2806 2424 15.76% 3223 -12.94%
Shanghai 3392 3225 5.19% 3050 11.20%
USD 74.05 74.59 -0.72% 71.22 3.97%
Euro 88.60 87.38 1.39% 79.94 10.84%
GBP 98.55 96.70 1.91% 94.36 4.44%
Yen/100INR 0.71 0.71 0.45% 0.66 8.55%
Gold 48106 50700 -5.12% 39067 23.14%
Silver 59100 60920 -2.99% 46665 26.65%
Crude Brent $ 48.18 37.46 28.62% 66.29 -27.32%
Crude Nymex $ 45.53 35.79 27.21% 61.30 -25.73%
NIFTY SECTORAL INDICES
Sectors BANK NIFTY CNX IT CNX AUTO CNX FMCG CNX PHARMA
30-Nov 29609 21765 8892 31719 11839
30-Oct 23901 20917 7758 29428 11244
% 1M 23.88% 4.05% 14.61% 7.78% 5.30%
01-Jan 32103 15722 8210 30234 8047
% since Jan -7.77% 38.43% 8.30% 4.91% 47.12%

INDIAN TRADE(USD MILLION)
Exports 24820
Imports 33600
FDI 2412
Government Bond 10Y 5.91%
GDP YoY -7.50%
Inflation Rate 7.61%
Forex Reserves $ M 575290
IIP % 5.40%
INSTITUTIONAL TRADING ACTIVITY
Particulars FII (Rs. crore) MF (Rs. crore)
Equity 61,712 (20,225)
Debt (1,314) 12,740
Total 1 M 60,398 (7,485)
Total Since Jan (719) 1,72,508
Equity 1,03,957 (25,225)
Debt (1,04,676) 1,97,732

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