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India stocks rose, taking back ground after record losses on Monday after investors picked stocks that have dropped significantly as the nation goes into lockdown to limit the spread of the COVID-19.
The S&P BSE Sensex gained by 1% to 26,239.96 as of 9:47 AM in Mumbai. Meanwhile, the NSE Nifty 50 Index had also advanced by 1%. Both indexes had seen a record 13% fall in the previous session on Monday after the number of infected cases rose to near 467 in the world’s second-most populated country. The rebounds in 12 of the 19-sector sub-indexes were mostly rallied by IT stocks.
Prime Minister Narendra Modi as well as other state leaders called for a nationwide lockdown following a weekend meeting, dampening an already snail-paced economy in a decade. The Central Bank unveiled steps in order to boost liquidity without opting for a rate cut.
In addition, the Securities and Exchange Board of India had also lowered compliance burden on market participants in a bid to contain market volatility.
The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course ...
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
Apple, Google, Amazon, and Facebook’s chief executive officers faced Republican and Democratic U.S. lawmakers on Wednesday for the much-anticipated congressional hearing. The CEOs were questioned for alleged abuse of their market power ...
Asian stocks advanced on the prospect of ultra-easy monetary policy as the U.S. Federal Reserve kept interest rates near zero. Fed deemed it necessary to salvage the ailing economy, dragging the dollar down to a two-year low. The target range ...
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