News and Updates

Stock Market Synopsis : 04/08/2020

• Sensex has risen up over 700 points and nifty touched 11k plus. HDFC is on top of today’s share market.
• Reliance India Ltd.’s shares rise near7% today: increase has led the rates to stand currently at INR 2150.60
• Gold prices have hit an all-time high owing to the pandemic; @INR 54,400/10 grams at the moment, predictions deem it impossible from letting the price rise above INR 80,000 in India by Diwali 2020. Globally, gold rates have fallen 0.2% @$1973.54/ounce
• Rupee value has increased as compared to Monday’s rate at 75.01/$. Today’s rate stands at 75.05/$.
• Oil prices falling amidst rising COVID-19 cases: 30% fall in crude oil rates owing to lesser demands.
• RBI MPC meet: they might cut the interest rate despite of inflation risk.
• 4 entities banned by SEBI for provision of unauthorized investment in advisory services: SEBI found some information without obtaining registration from the regulator and main partner is Shinal Jain and Ashish Chourasiya, fine of 2 crores imposed.
• Rate of zinc increased marginally, @184.95/kg
• HDFC facing a positive growth in the market after the change in the bank CEO.
• Changes noticed in PPF: partial withdrawal and premature closure: withdrawal can be done only once a year, before completion of the maturity period and 1% interest will be deducted from the date of account opening from premature closure is allowed after 5years from the opening of the account.
• Copper prices slip by Rs.2.30 to Rs.507.80/kg due to decrease in demand.
• Punjab National Bank gives approval for raise up by Rs. 7000 crores through share sale.
• Axis Bank sets up floor price of Rs.442 via QIP to raise funds for Rs.10,000 crore share-sale.
• India’s July gold imports drop at around 24% Y-O-Y
• Up to 82% profit noticed at Rs 346 crore for Tata Consumer Products at Quarter 1 .
• 52-week lows hit by 5 stocks including Borosil , Mittal Life style, Aarti surfactants , Vikas Proppant & granite.
• IRDA permits life insurance policy through electronic medium only for 2020-21.
• Crude palm oil surges from 739.20 to 748.80/10 kg.
• 56 stocks hit a 52 -week high, including Ajanta Pharma, Cipla ,Natco Pharma.
• H1-B VISA impacted from Trump’s signing of executive order restricting hiring of foreign workers, impacting Indian Technology.