Market erased opening gains to end at day’s low on Friday– with both Sensex and Nifty closing over a percent lower. The Union government has urged people not to panic and instead follow COVID-19-appropriate behaviour and get vaccinated without delay. A bevvy of changes will come into effect in December ranging from a possible hike in term insurance premiums to a rise in SBI credit card EMIs. Here are some top news of the day
Government tables second batch of supplementary demands for grants
The Centre has tabled its supplementary demands in the Parliament, seeking a net additional spend of Rs 2.99 lakh crore for the financial year 2022. CNBC-TV18 had earlier reported that the additional spend this year could be more than Rs 2.5 lakh crore. Read more
Rural slowdown due to inflationary pressures
NielsenIQ’s fast-moving consumer goods (FMCG) snapshot for the second quarter of FY22 showed that inflation has dragged down demand for consumer goods, with growth slowing to 12.6 percent – significantly lower than the 36.9 percent recorded the previous quarter. Read more
Telecom department starts returning bank guarantees
Implementing the decision taken to provide relief to telcos, the telecom department has started returning bank guarantees to companies. As part of this, the telecom department is releasing bank guarantees of Rs 20,000 crore issued by Bharti Airtel and Vodafone Idea. Read more
Indian equity markets snap 2-week losing streak
Market erased opening gains to end at day’s low on Friday– with both Sensex and Nifty closing over a percent lower. For the week, market ended higher as it snapped the 2 week losing streak. IT was the top gaining index while pharma was the top losing one. Experts discuss road ahead for investors.
CLSA downgrades Maruti to ‘sell’
CLSA has downgraded Maruti Suzuki India to sell from underperform with a target price of Rs 6,420. The stock was marginally under pressure during market hours. Here’s why
Saurabh Mukherjea’s financial stock picks
Saurabh Mukherjea, Founder of Marcellus Investment Managers, believes it is a good time to invest in well-run financial companies now, instead of more speculative spaces such as realty, travel, transport, infra and aviation. Check out the stock tips.
Cyclonic storm to reach west-central Bay of Bengal tomorrow
likely to intensify further and reach west-central Bay of Bengal off north Andhra Pradesh – south Odisha coasts by tomorrow, the 4th December morning. Read updates
How is India responding to Omicron
The Union government has urged people not to panic and instead follow COVID-19-appropriate behaviour and get vaccinated without delay. Read …….