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Crash or next boom in housing market: Rising demand for luxury homes and expectations from 2021

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The year 2020 had many highs and lows, especially with the pandemic and nationwide-lockdowns for the Indian real estate sector.

Authored by Manav Singh

The year 2020 had many highs and lows, especially with the pandemic and nationwide-lockdowns for the Indian real estate sector. With the entire world moving towards the new normal, the economic revival is expected to bounce back in 2021.

After, almost three-quarter prolonged break, the luxury homes segment is witnessing huge demand with festive offers, ready-to-move inventory and stable prices. The real estate segment is expected to rise significantly in 2021 as compared to the pre-covid demand. The living condition in pandemic has shifted the focus of the buyer to upgrade to bigger living spaces.

The upcoming trends that the luxury homes segment is expecting will be more towards the following:

1) Buyers seeking out managed residences, upgrading to a bigger living space will be another focus, however with kids and senior citizens at home, buyers will relook at the options available along with the living space.

The architecture and design of a luxury home should also integrate green areas, open landscape, etc. that creates a sense of positive living and a healthy lifestyle. The pandemic invoked healthy living into the minds of the people, which will influence every buying choice they make, be it for a house or furniture.

2) Another interesting thing that can be taken into consideration, is the lowest interest rates, the stamp duty reduction, and an increase in demand for ready to shift homes have opened new avenues for NRIs to invest in the upcoming New Year.

Along with NRIs even the High Net Worth Individuals in India are looking forward to making the safest investment in the luxury housing segment.

3) Amenities are also one of the important trends that the sector will be witnessing further. Every luxury home environment might have facilities like clubhouse, walking areas, etc but going the extra mile and including amenities like 24×7 medical emergency, Helicopter facility like Auramah Valley in Shimla, on-call security and maintenance assistance, health & wellness club with extra facilities will go a long way.

Pandemic has changed the perspective of people’s living conditions, facilities available at your doorstep, and adding to your convenience in all forms will help buyers in the long run.

4) Design and Décor will also be one of the driving factors for buyers as India is known for following certain practices while making the buying decision. Increasing awareness concerning the living standards and positive vibes through spacious design and the sunlight with accurate directions has brought about a paradigm shift in the preferences of the home buyers in the luxury segment.

With the world-class design and accentuating décor, the developers need to focus on certain other factors like enough sunlight and proper ventilation entering the house, open spaces to make the furniture setting uber-luxurious with international standards.

5) Apart from aesthetics, interiors, and luxurious décor, certain other factors will influence the buyer’s decision for luxury homes like
Smart Tech, which is yet another trend that is popular while buying a luxury home. Technology has been the most integral part of everyone’s life. From Gen X to Gen Z and millennial, smart tech homes are the top priority.

A luxury home is a perfect choice when it has top-notch security, smart home assistance, fire and gas leak detectors, etc. The hi-tech technology-enabled systems help in providing much-added convenience and comfort in the everyday life of the homeowners. It aims to incorporate security, mobility, comfort, and entertainment, providing occupants with connected solutions at all times.

6) Brand tie-ups will be another trend in 2021, associations with big brands, as well as, apps that add convenience, will help big developers stand out in the industry. For instance, the My Gate association not only helps vendors but also aims to help homeowners and families to shop while enjoying the comfort of their home.

People are looking forward to optioning where there is no need to walk a mile to stock-up on their favorite daily essential brands. This will help to increase the goodwill of the developer and add credibility for the buyer. This will be a visible change that buyers can witness and make an informed decision about the investment. Brand tie-ups can be for various facilities like sports, food, daily essentials, etc.

In the wake of the reviving state of the luxury homes segment in the country, these trends will gradually help the real estate developers to upgrade the premium inventory a notch higher and sustain in the competitive market in the long run.

Manav Singh is founder at Auramah Valley and Chairman Imperial holding group. Views are personal

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Ford, Mahindra call off auto joint venture; decision taken due to changes in global economy

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The companies said in separate statements that the decision was driven by changes in the global economy over the last 15 months, causing both to reassess their capital allocation priorities.

Ford Motor Co said on Thursday it was calling off its automotive joint venture with India’s Mahindra and Mahindra Ltd due to the challenges caused by the COVID-19 pandemic. The companies said in separate statements that the decision was driven by changes in the global economy over the last 15 months, causing both to reassess their capital allocation priorities.

”The global economy and business environment are not the same as October last year,” Ford spokesman T.R. Reid said.

The deadline to finalize a joint venture between the companies was Dec. 31, and both made the decision to end the agreement rather than close a deal or extend the timetable to do so, Reid said.

In October 2019, Ford and Mahindra said they would form a joint venture in India in a move to cut costs for developing and producing vehicles for emerging markets. The companies said at the time they expected to launch three new utility vehicles, starting with a midsize SUV, and also jointly develop electric vehicles for emerging markets.

Asked if those vehicles were now canceled, Reid said, ”At this point, there’s nothing to talk about other than the joint venture isn’t going to happen.” Ford said its independent operations in India will continue.

Pressure to pursue mergers or alliances in the auto industry has grown as the costs of developing electric and self-driving vehicles drives companies to preserve funds for those efforts. France’s PSA and Fiat Chrysler Automobiles NV expect to close their USD38 billion merger in the first quarter of 2021.

Ford executives have repeatedly touted a company strategy that includes partnerships, including with Mahindra, as a way to increase efficiencies and reduce costs on its path to achieve 8 percent global operating profit margins. Reid said that strategy would continue when asked whether Ford would look to partner with another automaker in southeast Asia.

Mahindra said in its statement that the decision will not have any impact on its product plan, and that it is accelerating efforts to develop electric SUVs.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Top stock tips by Rahul Mohindar, Mitessh Thakkar for Friday

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

CNBC-TV18’s in-house panel of experts has laid down a list of stocks for the investors to buy/sell in trade today.

The Indian market is likely to open higher on Friday as the SGX Nifty, an early indicator of the opening for domestic Nifty, was trading 34.50 points or 0.25 percent higher at 14,016.00 at 8:25 am, indicating a positive start for the Sensex and Nifty50.

CNBC-TV18’s in-house panel of experts has laid down a list of stocks for the investors to buy/sell in trade today.

Here are the top buy-sell calls by market experts for Friday:

Rahul Mohindar – viratechindia.com

– Sell Reliance Industries with a stop loss of Rs 2,000, target at Rs 1,965 and 1,945

– Buy Apollo Hospitals with a stop loss of Rs 2,380, target at Rs 2,460

– Buy Tata Steel with a stop loss of Rs 630, target at Rs 663

– Buy Maruti Suzuki with a stop loss of Rs 7,540, target at Rs 7,800

Mitessh Thakkar – mitesshthakkar.com

– Buy Motherson Sumi Systems around Rs 163-163.5 with a stop loss below Rs 160, target at Rs 172

– Buy UBL with a stop loss of Rs 1,165, target at Rs 1,225

– Sell Amar Raja Batteries with a stop loss of Rs 934, target at Rs 900

– Buy Mindtree with a stop loss of Rs 1,630, target at Rs 1,720

 

Catch all live market updates here

Disclaimer: CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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10 things you need to know before the opening bell on January 1

indian stock market
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 18, 2018. REUTERS/Brendan McDermid
1. Wall Street | US stocks ended a tumultuous year with the Dow and S&P 500 at records, as the three major U.S. equity indexes notched solid-to-spectacular yearly gains despite an economy upended by the COVID-19 virus as investors looked to a post-pandemic world. The Dow Jones Industrial Average rose 196.92 points, or 0.65 percent, to 30,606.48, the S&P 500 gained 24.03 points, or 0.64 percent, to 3,756.07 and the Nasdaq Composite added 18.28 points, or 0.14 percent, to 12,888.28. (Image: Reuters)
FILE PHOTO: A man is reflected in an electronic board showing Britain's FTSE 100 outside a brokerage in Tokyo, Japan, June 27, 2016. REUTERS/Toru Hanai/File Photo
2. Asian Markets | Asian stock markets closed mostly higher on Thursday following gains in US markets. Investors booked profits amid thin holiday trading ahead of the new year. Major Asian markets were closed for New Year’s Eve.
BSE Sensex, markets at close, closing bell
3. Indian Market | The Indian benchmark indices, Sensex and Nifty, ended Thursday’s choppy session on a flat note. Nifty ended flat at 13,982 after crossing 14,000 Intra-day for the first time ever, while Sensex closed 5 points higher at a record closing high of 47,751. Gains in metals, pharma, realty and auto stocks were countered by selling pressure in FMCG, PSU Banks and financial stocks. Broader markets outperformed with Nifty Smallcap100 and Nifty Midcap100 ending 0.13 percent and 0.38 percent higher, respectively.
crude oil
4. Crude Oil | Global crude prices edged higher on Thursday but lost more than a fifth of their value in 2020, as lockdowns to combat the novel coronavirus depressed economic activity and sent oil markets reeling. On the last trading day of 2020, Brent rose 17 cents to settle at $51.80 a barrel. U.S. West Texas Intermediate rose 12 cents to settle at $48.52 a barrel. Brent fell 21.5% for the year, with WTI falling 20.5%.
Rupee pares early gains, settles 5 paise lower at 73.36 against US dollar
5. Rupee | Rising for the sixth straight session, the rupee spurted 24 paise to end at a nearly four-month high of 73.07 against the US dollar on the last day of the year on Thursday, supported by a weak American currency and rise in risk appetite. At the interbank forex market, the domestic unit opened at 73.15 against the US dollar and witnessed an intra-day high of 73.01 and a low of 73.17. The local unit finally settled at 73.07, registering a rise of 24 paise over its previous close.
6. US jobless claims | The number of Americans seeking unemployment benefits fell by 19,000 but remain elevated at 787,000 as a resurgent coronavirus grips the US economy. While at the lowest level in four weeks, the new figures released Thursday by the Labor Department are nearly four times higher than a year ago before the coronavirus struck. Employers continue to cut jobs as rising coronavirus infections keep many people at home while state and local governments re-impose restrictions.
7. RBI | The RBI will conduct simultaneous purchase and sale of government securities under Open Market Operations (OMO) for Rs 10,000 crore each on January 7, 2021. The central bank will purchase three government securities (G-Sec) of different maturity dates aggregating to Rs 10,000 crore and sell two securities aggregating to the same amount using the multiple price auction method.
Sebi slaps fine on Titan employee for violating insider trading norms
8. SEBI | Due to operational challenges presented by AMFI, the markets regulator Sebi on Thursday has extended the date of implementation of uniformity in applicability of NAV on realisation of funds to February 1, 2021 from January 1, 2021. According to the new rules which was announced in September, investors will purchase NAV of the day when investor’s money reach AMC, irrespective of the size of the investments.
Explained: What is Container Imbalance? qExplained: What is Container Imbalance?
9. RoDTEP scheme extended | Giving relief to exporters, the government on Thursday said it has decided to extend the benefit of tax refund scheme RoDTEP to all goods, with effect from Friday. In March, the government approved the scheme for Remission of Duties and Taxes on Exported Products (RoDTEP) for reimbursement of taxes and duties to exporters, with a view to give a boost to the country’s dwindling outbound shipments.
Rupee widens losses by 5 paise at 73.84 against US dollar
10. Fiscal deficit widens | The Centre’s fiscal deficit for April-November 2020 soared to Rs 10.76 lakh crore, or 135 percent of the full year budgeted target of Rs 7.96 lakh crore, as the government’s finances continued to be stretched due to lower revenues arising from the COVID-19 pandemic and the economic slowdown. Total expenditure for the first eight months of the current fiscal year was Rs 19.06 lakh crore or 62 percent of the budget size of Rs 30 lakh crore. This compares to 65.3 percent for the same period last year, when total expenditure for April-November 2019 was Rs 18.20 lakh crore versus a budget size of Rs 27.9 lakh crore.
 5 Minutes Read

US blocks $63 million in funds of global terrorist groups in 2019: Report

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

According to the report, in 2019 the US blocked USD 63 million in funds of nearly 70 designated terrorist organisations, with the highest being USD 3.9 million of the al-Qaeda group. While the total blocked funds in 2018 was USD 46 million, that of the al-Qaeda was USD 6.4 million that year.

The US blocked USD 63 million in funds of designated terrorist groups, including Pakistan-based outfits, in 2019 as part of its crackdown on foreign terrorist organisations, according to an annual report by the treasury department. The report released by the US Department of Treasury on Thursday states the US blocked USD 342,000 in funds of the Lashkar-e-Taiba (LeT), USD 1,725 of the Jaish-e Mohammed (JeM) and USD 45,798 of the Harkat-ul-Mujahideen-al-Islami.

All the three groups are Pakistan-based terror outfits. Harkat-ul-Mujahideen-al-Islami is a Islamic jihad group operating primarily in Kashmir. Another Pakistan-based Kashmir centric terrorist outfit Hizbul Mujahideen has USD 4,321 blocked by the US in 2019 as against USD 2,287 the previous year, the report said.

For the Tehrik-e Taliban Pakistan, the US blocked USD 5,067 in 2019 as against a paltry USD 318 in 2018. The Department of Treasury’s Office of Foreign Assets Control (OFAC) is the leading US Government agency responsible for implementing sanctions against the assets of international terrorist organisations and terrorism-supporting countries.

The federal body implements these sanctions as part of its general mission to administer and enforce economic and trade sanctions based on US foreign policy and national security goals. According to the report, in 2019 the US blocked USD 63 million in funds of nearly 70 designated terrorist organisations, with the highest being USD 3.9 million of the al-Qaeda group. While the total blocked funds in 2018 was USD 46 million, that of the al-Qaeda was USD 6.4 million that year.

The list includes the Haqqani network (USD 26,546). It is a significant increase from USD 3,626 in 2018. The US continues to block USD 580,811 in funds of the Sri Lanka-based Liberation Tigers of Tamil Eelam (LTTE), which has remained the same for two years — 2018 and 2019.

Also Read: Trump leaves mark on immigration policy, some of it lasting

The report indicated a significant drop in Taliban funds being blocked by the US from USD 296,805 in 2018 to USD 59,065 in 2019. According to the report, the combination of sanctions programmes targeting international terrorists and terrorist organisations with those targeting terrorism-supporting governments constitute a wide-ranging assault on international terrorism and its supporters and financiers.

The US also blocked USD 200.19 million in funds of countries designated as sponsors of terrorism — Iran, Sudan, Syria and North Korea.

Also Read: Trump extends visa ban, health coverage policy advances

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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Should Elon Musk be able to buy Twitter?

 5 Minutes Read

S&P 500, Dow close at record highs, dollar gains at end of tumultuous year

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Over the course of a historic year, the indexes both roared and plummeted as economic shutdowns to contain the coronavirus brought markets to their knees.

Wall Street advanced on Thursday and the dollar gained ground as investors closed the book on a turbulent year of pandemic, recession and recovery. All three major indexes gained ground, with the Dow and S&P 500 picking up steam in the session’s final minutes to exit 2020 at record highs.

Over the course of a historic year, the indexes both roared and plummeted as economic shutdowns to contain the coronavirus brought markets to their knees.

”It’s a quiet day with little news and low volume – an ironic end to such a tumultuous year,” said David Carter, chief investment officer at Lenox Wealth Advisors in New York. ”All eyes are on next year, which will be ’show me’ time, with investors watching to see if actual fundamentals will be as strong as current stock prices are forecasting.”

Equities bounced back with a vengeance following the plunge in March, with the Nasdaq, S&P 500 and Dow posting respective annual gains of 43.6 percent, 16.3 percent and 7.2 percent.

”When you think about the year we’re glad it’s over, but it was also unbelievable in a lot of different ways,” said Ryan Detrick, senior market strategist at LPL Financial in Charlotte, North Carolina. ”This is the first year in history that the S&P was down 30 percent for the year at one point and managed to end higher.

”It is a good reminder for investors to have a longer time horizon and when bear markets arise they likely should be viewed as opportunities and not a time to panic, which is easier said than done,” Detrick added.

Initial jobless claims unexpectedly dropped for the second straight week, according to the Labor Department, but remain elevated as the economy stumbles through a COVID-19 resurgence. President Donald Trump was expected to fly back to Washington on Thursday to pick up his fight with Congress over a defense bill and stimulus checks.

Nations around the world struggled to deploy vaccines to end the global health crisis. About 2.8 million Americans have been inoculated so far, falling well short of the year-end goal of 20 million.

The Dow Jones Industrial Average rose 196.92 points, or 0.65 percent, to 30,606.48, the S&P 500 gained 24.03 points, or 0.64 percent, to 3,756.07 and the Nasdaq Composite added 18.28 points, or 0.14 percent, to 12,888.28.
European stocks closed lower as tighter coronavirus restrictions in the UK and higher US tariffs on some EU products dampened optimism on the last day of the Brexit transition.

The pan-European STOXX 600 index lost 0.30 percent and MSCI’s gauge of stocks across the globe gained 0.15 percent, lost 0.45. Oil prices advanced on hopes of rebounding demand, but US and Brent crude prices ended 2020 down 20.5 percent, and 21.5 percent, respectively. US crude rose 0.25 percent to settle at USD 48.52 per barrel and Brent settled at USD 51.80 per barrel, up 0.33 percent on the day.

US Treasury yields dipped, pulling the yield curve flatter, as thin volume exaggerated market moves. Benchmark 10-year notes last rose 3/32 in price to yield 0.9165 percent, from 0.926 percent late on Wednesday. The 30-year bond last rose 12/32 in price to yield 1.6462 percent, from 1.662 percent late on Wednesday.

The dollar rose against a basket of world currencies but ended its worst year since 2017 as expectations for further fiscal aid and easy monetary policy from the US Federal Reserve prompted investors to shun the greenback.
The dollar index rose 0.24 percent, with the euro down 0.6 percent to USD 1.2221.

The Japanese yen weakened 0.06 percent versus the greenback at 103.26 per dollar, while sterling was last trading at USD 1.3673, up 0.37 percent on the day.

Gold prices gained as safe-haven metal notched its best year in a decade due to economic uncertainties caused by the pandemic. Spot gold added 0.2 percent to USD 1,897.88 an ounce.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Stock Market Highlights: Sensex ends 117 points higher, Nifty settles above 14,000 for first time; PSU Banks lead

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Stock Market Highlights: The Indian benchmark equity indices, Sensex and Nifty ended higher on Friday led by gains in PSU banks and auto stocks. Broader markets outperformed the benchmarks with Nifty Smallcap100 and Nifty Midcap100 ending more than 1 percent higher each.

Stock Market Highlights: The Indian benchmark equity indices, Sensex and Nifty ended higher on Friday led by gains in PSU banks and auto stocks. Broader markets outperformed the benchmarks with Nifty Smallcap100 and Nifty Midcap100 ending more than 1 percent higher each.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Trump extends visa ban, health coverage policy advances

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The twin developments on the final day of 2020 encapsulated how Trump has made US immigration policy more restrictive without support from Congress.

President Donald Trump on Thursday extended pandemic-related bans on green cards and work visas to large groups of applicants through March 31, while a federal appeals court sided with him on a rule that requires new immigrants to have their own health insurance.

The twin developments on the final day of 2020 encapsulated how Trump has made US immigration policy more restrictive without support from Congress. President-elect Joe Biden has promised to undo many of Trump’s actions but it is unclear how quickly and even to what extent.

Federal judges have limited the impact of the pandemic-related visa bans, which were set to expire Thursday. Biden, who is now forced to decide when and whether to lift them after taking office Jan 20, doesn’t specifically address the issue in his immigration platform.

Biden also doesn’t directly address the health-insurance requirement in his platform and a lawyer who sued the over the policy on Thursday urged him to immediately rescind it.

In April, Trump imposed a ban on green cards issued abroad that largely targets family members of people already in the United States. After a surprisingly chilly reception from immigration hawks, the administration went much further in June by adding H-1B visas, which are widely used by American and Indian technology company workers and their families; H-2B visas for nonagricultural seasonal workers; J-1 visas for cultural exchanges; and L-1 visas for managers and other key employees of multinational corporations.

Trump said the measures would protect American jobs in a pandemic-wracked economy, while business groups said they would hamper a recovery.

The effects of COVID-19 on the United States labor market and on the health of American communities is a matter of ongoing national concern, Trump’s proclamation read, highlighting the growing number of cases and states’ restrictions on businesses.

Also Read: Trump leaves mark on immigration policy, some of it lasting

By contrast, the administration’s edict to immediately expel asylum-seekers and others who cross the border illegally from Mexico was justified on grounds of containing the coronavirus, though reporting by The Associated Press and others found that government scientists saw no evidence for it. A temporary ban on non-essential travel across the Mexican and Canadian borders was also done for public health.

In October, a federal judge in San Francisco ruled that the work-visa ban could not be enforced against groups that sued and their members, who represent much of the U.S. economy: the U.S. Chamber of Commerce, the National Association of Manufacturers, the National Retail Federation, technology industry group TechNet and Intrax Inc., which manages cultural exchange programs.

In December, a federal judge in Oakland, California, prevented the green-card ban from taking effect against families of 181 U.S. citizens and legal residents who sued.

In its ruling issued Thursday, a 9th Circuit Court of Appeals panel voted 2-1 to clear the way for Trump’s requirement that immigrants have health insurance. New immigrants must demonstrate they can obtain coverage within 30 days and pay their medical expenses. A federal judge blocked the rule from taking effect almost immediately after it was announced in October 2019.

Judge Daniel P. Collins, a Trump appointee, wrote that the president acted within his authority, relying largely on the Supreme Court’s ruling that upheld Trump’s travel ban on several predominantly Muslim countries. He was joined by Judge Jay Bybee, who was appointed by President George W. Bush.

Judge A. Wallace Tashima, who was appointed by President Bill Clinton, dissented, calling the policy a major overhaul of this nation’s immigration laws without the input of Congress a sweeping and unprecedented exercise of unilateral executive power.

Esther Sung, an attorney for Justice Action Center, an advocacy group that sued to block the rule, said she was disappointed. The ruling makes clear that the Biden administration must move swiftly to rescind all of President Trump’s xenophobic presidential proclamations, including this health care ban, she said.

The Justice Department did not immediately respond to a message seeking comment.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
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10 Questions · 5 Minutes
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Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

CNBC-TV18’s top stocks to watch out for on January 1

Sensex, Nifty, Bank Nifty, Nifty IT, Nifty FMCG, Nifty Auto, Nifty Metal, HDFC, HDFC Bank, Reliance Industries, TCS, Hindustan Unilever, BSE India, NSE India, Markets Today, Market News
Antony Waste Handling Cell | The company will list shares on bourses today. The issue price has been fixed at Rs 315 per share.
Mahindra and Mahindra, coronavirus, COVID-19
Mahindra & Mahindra | The company has called off its automotive joint venture with Ford Motor Co due to the challenges caused by the COVID-19 pandemic.
IDBI Bank PCA framework
IDBI Bank | The bank has completed the sale of its 23 percent stake in IDBI Federal Life Insurance, to Ageas for Rs 507.10 crore.
Jindal Steel & Power
Jindal Steel and Power | The company’s subsidiary Jindal Power has been declared as the successful bidder for a block of Gare Palma coal mine in Chhattisgarh.
stocks, markets
UPL | Promoter Jaidev Rajnikant Shroff bought 3,98,500 Global Depository Receipts equivalent to 7,97,000 equity shares of UPL, representing 0.10 percent of the total share capital of the company.
Infibeam
Infibeam Avenues | The company has divested its 100 percent ownership with control in its wholly-owned subsidiary Cardpay Technologies to its subsidiary Instant Global Paytech.
Punjab National Bank | The state-run lender has extended its festival bonanza offer till March.
Canara Bank
Canara Bank | The bank has raised Rs 1,635 crore by issuing additional tier-1 bonds at 8.50 percent coupon, to fund business growth.
SP Tulsian stock picks
HSIL | The company has closed its share buyback offer.
Crisil.
CRISIL Ratings | The company has received the necessary approvals from SEBI and RBI to undertake the Rating business transferred to it pursuant to the scheme.
 5 Minutes Read

WHO clears coronavirus vaccine for emergency use; poorer countries may soon get access

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The BioNTech-Pfizer vaccine has to be stored at ultra-frozen temperatures, a big hurdle for developing countries where the required freezers and reliable electricity supply may not be available.

The World Health Organization says it has cleared the Pfizer-BioNTech coronavirus vaccine for emergency use, meaning poorer countries may soon get access to the shot already available in Europe and North America. Every country that has a drug regulatory agency will have to issue its own approval for any COVID-19 vaccine, but countries with weak systems usually rely on WHO to vet the shots.

The global body said late Thursday that the decision to issue its first emergency use validation for a COVID-19 vaccine ”opens the door for countries to expedite their own regulatory approval processes to import and administer the vaccine.”

The UN health agency said its review found the Pfizer-BioNTech vaccine, which has already received clearance in the United States, Britain, the European Union and a dozen other countries, ”met the must-have criteria for safety and efficacy set out by WHO.”

The BioNTech-Pfizer vaccine has to be stored at ultra-frozen temperatures, a big hurdle for developing countries where the required freezers and reliable electricity supply may not be available.

Also Read: Rewind 2020: Will the world win fight against COVID-19 in the New Year?

”This requirement makes the vaccine more challenging to deploy in settings where ultra-cold chain equipment may not be available or reliably accessible,” WHO said, adding that it was ”working to support countries in assessing their delivery plans and preparing for use where possible”.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?