1 / 101.Asia: Stocks in Asia-Pacific were mostly higher in Wednesday morning trade after major indexes on Wall Street surged to record highs overnight. South Korea’s Kospi led gains among the region’s major markets as it gained 1.37 percent. In Japan, the Nikkei 225 was fractionally higher while the Topix index added 0.52 percent. Elsewhere, shares in Australia were little changed, as the S&P/ASX 200 sat below the flatline. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.32 percent higher, reported CNBC International. (Image: Reuters)
2 / 102. US: U.S. stock futures fell in overnight trading on Tuesday, despite recent strength that has brought the major averages to record highs. Dow futures fell about 150 points. S&P 500 futures fell 0.35 percent and Nasdaq 100 futures lost 0.2 percent. The major averages popped on Tuesday, the first day of December, adding to their sharp gains from the previous month. The Dow climbed 185 points, helped by a 3 percent jump in Apple’s stock. The 30-stock average hit an intraday record in Tuesday’s session, reported CNBC International. (Image: AP)
3 / 103. Closing Bell On Tuesday: Indian benchmark indices ended a percent higher each on Tuesday led by gains in metal, IT and pharma sectors. The sentiment was also lifted as India's economy recovered faster than expected in the September quarter as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5 percent in Q2. The GDP had contracted by a record 23.9 percent in the June quarter of FY21. At close, the Sensex ended 506 points higher to 44,655.44 while the Nifty50 index closed at 13,099.20, up 130 points. Infosys, ICICI Bank, RIL and HDFC were the top contributors to the Nifty50 index. Broader markets were in-line with the benchmarks and closed a percent higher each. (Image: Reuters)
4 / 104. Crude Oil: Oil prices fell about 1 percent on Tuesday as investors awaited direction from OPEC and its allies after the producers postponed a formal meeting to decide whether to lift output from January. Brent crude settled 0.6 percent lower at $47.42 per barrel, while West Texas Intermediate slid 1.74 percent to $44.55 per barrel, reported CNBC International. (Image: Reuters)
5 / 105. Rupee: The Indian currency finally closed at 73.68 against the American currency, registering a rise of 37 paise over its previous close. The rupee appreciated 37 paise and settled for the day at 73.68 (provisional) against the U.S. dollar on Tuesday as positive domestic equities and sustained foreign fund inflows strengthened investor sentiment. At the interbank forex market, the domestic unit opened at 73.93 against the U.S. dollar and witnessed an intra-day high of 73.44 and a low of 73.93. (Image: Reuters)
6 / 106. Burger King IPO To Open For Subscription Today: Burger King India, the quick-service restaurant chain, is set to launch its initial public offer (IPO) for subscription on December 2. This would be the fourteenth IPO in the current year. The issue will close on December 4 and the shares are likely to list on December 14. The public issue consists of a fresh issue of Rs 450 crore and an offer for sale of 6 crore equity shares by promoter QSR Asia Pte Ltd aggregating to Rs 360 crore. The company has fixed IPO price band at Rs 59-60 per share, which is 5.9-6 times of its face value of equity shares. One can put bids for a minimum of 250 equity shares and in multiples of 250 equity shares thereafter, which means retail investors can apply for maximum up to 3,250 equity shares at a higher price band. (Image: Reuters)
7 / 107. CEA Krishnamurthy Subramanian On Manufacturing Recovery: The Purchasing Managers Index (PMI) for manufacturing in November dropped to its lowest level in the last 3 months. GST collections in November is just above the Rs 1 lakh crore mark. The mop-up was marginally below what was clocked in October. On manufacturing recovery CEA said, “In the analysis presented after the Q1 GDP print, we had mentioned that high frequency indicators do suggest a V-shape recovery especially in manufacturing. I do think that the manufacturing recovery is indeed looking robust, partly it is also reflecting the reforms that have been done.” On downside risk Subramanian said, “The downside risk is two-fold, one is how the pandemic spreads in the winter month. So far it seems to be fine, it doesn’t look like the peak that we crossed in September is likely to be reached anytime soon, so that is something that is making me cautiously optimistic on the pandemic itself. Second is about the uncertainty itself. The combination of both of these how the pandemic spreads and the fact that there is still some uncertainty is what I would lay out.” (File Photo: IANS)
8 / 108. Govt Receives 215 Applications For Bulk Drug PLI: In a bid to encourage manufacturing of bulk drugs and medical devices in the country, the Narendra Modi government on Tuesday has received "a very positive response" for the two Production Linked Investment (PLI) schemes spearheaded by the department of pharmaceuticals. Confirming CNBC-TV18's newsbreak, department of pharmaceuticals in a press statement during the day said, "PLI scheme for bulk drugs and PLI scheme for medical devices have shown a very positive response from the pharmaceutical as well as the medical device industry." "The industry has shown a very good response to these schemes whereby 215 applications made by 83 pharmaceutical manufacturers have been received under the PLI scheme for bulk drugs. Similarly, 28 applications made by 23 medical device manufacturers have been received under the PLI scheme for medical devices. The closing date of applications was 30.11.2020. IFCI Ltd. is the Project Management Agency (PMA) for implementation of both the schemes." (Image: Reuters)
9 / 109. GST Collections Continue To Be Above Rs 1 Lakh Crore For Second Month: Backed by festival sales, the Goods and Services Tax (GST) collections for the business activities undertaken in the month of October, recorded in the month of November continued to remain above Rs 1 lakh crore mark. Coming in at Rs 1,04963 crore, the GST collections continue to be in growth trajectory for third consecutive month. Though the collections come in marginally lower, when compared on a month on month basis, but on a year on year comparison, the collections are about a thousand crore rupees higher. "In line with the recent trend of recovery in the GST revenues, the revenues for the month of November 2020 are 1.4 percent higher than the GST revenues in the same month last year. During the month, revenues from import of goods was 4.9 percent higher and the revenues from domestic transaction (including import of services) are 0.5 percent higher that the revenues from these sources during the same month last year," finance ministry in a statement said. (Image: Reuters)
10 / 1010. Canada Plans Digital Tax For Tech Giants: Canada plans to impose a tax on corporations providing digital services from 2022 that will stay in place until major nations come up with a coordinated approach on taxation, the finance department said on Monday.The Organisation for Economic Cooperation and Development is working on a common approach to ensure digital behemoths, such as Alphabet Inc's Google and Facebook Inc, pay their share of taxes as the coronavirus hammers budgets. Canada said it was concerned about a delay in reaching agreement. The threat of digital services taxes has prompted threats of trade retaliation from outgoing US president Donald Trump's administration. (Image: Reuters)
