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Oil prices drop 1% on demand concerns
Oil prices fell on Monday, extending last week’s losses, as a jump in COvid-19 infections in the United States and Europe raised alarms over crude demand. Brent crude was down by 53 cents, or 1.3 per cent, at $41.24. US WTI dropped 53 cents, or 1.3 per cent, to $39.32, having fallen more than a dollar shortly after the start of trading.
SGX Nifty signals flat start
Nifty futures on the Singapore Exchange traded flat at 11,935, in signs that Dalal Street was headed for a tepid start on Monday.
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Asian shares make guarded gains
Asian shares got off to a cautious start on Monday as surging coronavirus cases in Europe and the United states threaten the economic outlook, even as growth in China provides some support to Asia. MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.1 per cent, but remained short of its recent 31-month peak. Japan’s Nikkei rose 0.2 per cent, and South Korea’s main index was up 0.4 per cent.
Governor Das tests positive for Covid-19
India’s central bank Shaktikanta Das on Sunday said he has tested positive for the novel coronavirus, one of the most high-profile figures in the world’s second most-infection nation to contract the infectious disease. “I have tested COVID-19 positive. Asymptomatic. Feeling very much alright,” the 63-year-old tweeted.
US stocks ended lower on Friday
On Friday, the benchmark Dow Jones Industrial Average was 0.1 per cent lower at 28,335.57. The broad-based S&P500 index rose 0.3 per cent to 3,465.39, while the tech-rich Nasdaq Composite index closed 0.4 per cent higher at 11,548.28.
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Q2 results today
Kotak Mahindra Bank, SBI Life Insurance, Max Ventures, Finolex Industries, Angel Broking and Torrent Pharma are slated to announce their financial results for September quarter on Monday.
FIIs buy Rs 907 cr worth of stocks
Net-net, foreign portfolio investors (FPIs) were buyers of domestic stocks to the tune of Rs 906.93 crore, data available with NSE suggested. DIIs were net sellers to the tune of Rs 891.86 crore, data suggests.
Rupee drops by 7 paise to 73.61 on dollar buying by banks
The rupee depreciated by 7 paise to close at 73.61 against the US dollar on Friday due to dollar buying by banks possibly on the behalf of the Reserve Bank. At the interbank forex market, the local unit opened weak at 73.62 against the US dollar and remained under pressure for the most part of the session. It moved in a range of 73.46 to 73.67 against the US dollar in day trade.
Sensex, Nifty on Friday
Equity benchmark Sensex ended 127 points higher on Friday, primarily led by gains in auto, metal and power sector stocks amid positive cues from global markets.After rising 252.63 points during the day, the 30-share Sensex settled 127.01 points or 0.31 per cent higher at 40,685.50, and the broader NSE Nifty rose 33.90 points or 0.28 per cent to end 11,930.35.
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