On Wednesday PayPal Holdings Inc joined the cryptocurrency market, allowing customers to sell, buy and hold bitcoin and other virtual coins using the U.S. digital payments company’s online wallets.
Indian lenders had brought down dodgy loans from 11.6% in FY18 to just 8.5% of their book in FY20. It seems that was just a number on the sand, and all it took was a wave of the pandemic to wipe off this minor victory.
The Ministry of Finance today amended the General Financial Rules 2017 to enable imposition of restrictions on bidders from countries which share a land border with India on grounds of defence of India, or matters that directly or indirectly relate to the national security of the country, said and official release.
Bullish factors building in the gold market are set to see prices take out the record set in 2011, according to Citigroup Inc. The metal is benefiting from loose monetary policy, low real yields, record inflows into exchange-traded funds and increased asset allocation, the bank’s analysts including Ed Morse wrote in a report. Gold is expected to climb to an all-time high in the next six-to-nine months, and there’s a 30% probability it’ll top $2,000 an ounce in the next three-to-five months.
Reliance Industries, India’s most valued firm, is holding its 43rd annual general meeting (AGM) today. This is the company’s first online AGM where shareholders can participate virtually using the company’s recently launched video conferencing service JioMeet.
IDBI Federal Life Insurance expects significant impact of coronavirus pandemic on life insurance industry in the current fiscal, as erosion in disposable income and possible delay in people’s financial decisions will hurt the new business premium.
The life insurance industry had a growth in most part of 2019-20 till the COVID-19 pandemic struck in March 2020, it said in its annual report.
Domestic benchmark indices despite ending this week’s last trading session in the red gained half a percent during the course of the week with volatility coming back to haunt investors. With this, Sensex and the 50-stock Nifty are now up over 41% from their March lows. In the coming week, markets are expected to react to June quarter results of listed companies, global stock markets and not to forget the AGM of Reliance Industries. Analysts are still betting on stock-specific actions to steer the market with domestic factors not posing any grave threat in the coming weeks.