1 / 101. Asia: Stocks in Asia Pacific mixed in Wednesday morning trade as major indexes on Wall Street notched new records yet again overnight. In Japan, the Nikkei 225 rose 0.16 percent while the Topix index shed 0.14 percent. South Korea’s Kospi added 0.2 percent. Meanwhile, Australia’s S&P/ASX 200 dipped 0.59 percent. Overall, the MSCI Asia ex-Japan index was little changed. (Image: AP)
2 / 102. US: U.S. stock futures were flat in overnight trading on Tuesday after the S&P 500 closed at a new record high. Dow futures rose 5 points. The S&P 500 and Nasdaq 100 futures rose 0.04 percent and 0.1 percent, respectively. On Tuesday, the Dow Jones Industrial Average lost 60 points as Apple, the gauge’s biggest influence, snapped a five-day winning streak.The S&P 500 gain 0.36 percent, to notch its 17th record close of 2020. (Image: AP)
3 / 103. Market At Close On Tuesday: Indian shares hit a six-month high before giving up most of their early gains to end marginally higher on Tuesday. A drop in index heavyweights Reliance Industries and Infosys capped the gains, however, banks and financials supported the indices. The Sensex ended 45 points higher at 38,844 while the Nifty rose 6 points to settle at 11,472.(Image: Reuters)
4 / 104. Crude Oil: Crude oil prices rose on Tuesday, hitting a five-month high as U.S. producers shut most output in the Gulf of Mexico ahead of Hurricane Laura even as rising coronavirus cases in Asia and Europe capped gains. Brent futures rose 83 cents, or 1.8 percent to $45.96 a barrel, while West Texas Intermediate crude rose 73 cents, or 1.7 percent, to settle at $43.35 per barrel. (Image: AP)
5 / 105. Rupee Close: The Indian currency pared its early gains on Tuesday to settle flat amidst fluctuating equity market. The rupee ended at 74.33 against the US dollar as compared to its previous close of 74.31. (Image: Reuters)
6 / 106. Expenditure Secy On Second Stimulus: The government may look at introducing a second set of fiscal stimulus measures once the COVID-19 infections abate and the psychological fears in people's minds ebb, a top Finance Ministry official said on Tuesday. The government has also observed that 40 percent of the cash transfers directly into the beneficiaries' accounts recently have been saved and not spent, leading to a feeling that there are limitations of the stimuli measures and hence, making timing the most important factor, Union Expenditure Secretary T V Somanathan said. (Image: Reuters)
7 / 107. DPIIT Releases New Norms For Govt Projects: The centre has made it mandatory for entities, which belong to countries sharing a land border with India, to be registered with the department for promotion of industry and internal trade (DPIIT), if they want to bid for government projects. India shares land border with China, Pakistan, Bangladesh, Nepal, Bhutan and Myanmar. According to the department for promotion of industry and internal trade (DPIIT), the bidders from these nations would also need a security clearance. The developments may be interpreted as the latest in the government's ongoing strategy of ring-fencing Chinese companies. (Image: AP)
8 / 108. Finance Minister On GST Rate Revision: In what could be a big push to make two-wheeler vehicles cheaper and might boost the demand, the government is considering whether the goods and services tax (GST) rates can be cut for this segment. Extending hope for the industry and the consumers, while responding to a question at a CII forum about the need for lowering GST rates on 2-wheelers, Finance Minister Nirmala Sitharaman said, “this was indeed a good suggestion as this category is neither a luxury nor a sin good and hence merits a rate revision. Consequently, this will be taken up with the GST Council.” Meanwhile, when CNBC-TV18 checked with sources about how soon the proposal can be taken up with the GST Council, they told that “the proposal of GST rate revision for 2-wheelers will have to be sent to the GST fitment committee and is not likely to be taken up immediately” (Image: PTI)
9 / 109. Govt Amends CSR Norms For Pharma: The government on Tuesday amended the Corporate Social Responsibility (CSR) norms to include Research and development (R&D) spending on new vaccine, drugs, medical devices related to COVID-19. “Any company engaged in research and development activity of new vaccine, drugs and medical devices in their normal course of business may undertake research and development activity of new vaccine, drugs and medical devices related to COVID-19 for financial years 2020-21, 2021-22 and 2022-23 subject to the conditions,” said a gazette notification, issued on Monday. (Image: Reuters)
10 / 1010. Moody's On SBI's Deposit Ratings: Moody's Investors Service has affirmed the long-term local and foreign currency deposit ratings of State Bank of India (SBI) at Baa3. The deposit ratings of SBI are at the same level as India's Baa3 sovereign rating. "At the same time, Moody's has downgraded SBI's Baseline Credit Assessment (BCA) and adjusted BCA to ba2 from ba1," the ratings agency said. "As a result, Moody's has also downgraded SBI's foreign currency preferred stock noncumulative MTN programme rating to (P)B2 from (P)B1, and the rating of the preferred stock non-cumulative (Basel III compliant Additional Tier 1 securities) bond issued out of its DIFC branch to B2(hyb) from B1(hyb)." Moody's has maintained SBI's rating outlook, where applicable, as negative, in line with the outlook on India's sovereign rating. (stock image)
