News By/Courtesy: Lia Jils | 21 Sep 2020 8:57am IST

HIGHLIGHTS

  • SGF Nifty indicating a negative opening for the index in India with a 42 points loss.
  • Oil prices slip on potential Libyan oil return.
  • PSBs reports frauds in the first quarter.

The Indian stock market is expected to open but with a 42 points loss indicating a negative opening for the index of India. On September 18 Nifty50 fell 11.10 points to 11,505. There is lower volatile trading on the U.S stock market as increasing worries about the rising coronavirus still exist. The technology-related stocks which used to have gained are now declined. There is a tight growth on Monday in Asian stock markets as investors were waiting for the developments in the U.S. Shares in Japan are weaker, while Australian and Newzealand shares opened in red and South Korea was 0.1% up. While SGX Nifty shows a negative opening for India with a 42 points loss. They were trading at 11,477 on Singaporean Exchange around 7.30 hours IST.

Oil prices slip on potential Libyan oil return as rising coronavirus cases leads to lower global demand. But the losses are limited as new tropical storm heads for the U.S Gulf of Mexico. The Indian economy and the business has resumed as such the India's Inc's business sentiment improve during July-September according to the CII's business outlook survey. Due to the reduction of lockdown restrictions, the businesses opened and the Expectation Index rose 46 percent to the level of 55.2 during the time July-September which is a very remarkable increase. For the import of open-cell of TV's a 5 percent customs duty will be reimposed from October 1 following the end of a year exemption period. Last year there was an exemption on customs duty on open cell, a key component of the TV till September 30 as the domestic industries need to grow and build.

The State Bank of India, the country's largest lender reported the highest number of fraud cases but the Bank of India was the worst hit in terms of money. Out of a total of 12 PSB, SBI reported the maximum number of fraud cases during the period between April to June 2020. SEBI on September 18 announced that stricter surveillance measures will be introduced to deal with market volatility till October 20 after reviewing the pandemic related situation. On march various measures came up including the revision of market-wide position limits, ensuring orderly trading and settlement to contain high market volatility. They also aimed at effective risk management, price discovery, and maintenance of market integrity. The regulatory measures introduced by SEBI on review of the COVID-19 situation released in March will be in force till October 29. Moreover, 2 farm bills were passed by Rajya Sabha by voice vote on September 20 despite some issues. Route mobile is also expecting solid growth in digitalization and a hefty subscription.

 
This article does not intend to hurt the sentiments of any individual, community, sect, or religion, etcetera. This article is based purely on the author’s personal opinion and views in the exercise of the Fundamental Rights guaranteed under Article 19(1)(A) and other related laws being enforced in India for the time being.

Section Editor: Pushpit Singh | 22 Sep 2020 7:21am IST


Tags : #business #market

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