Benchmark indices S&P BSE Sensex and NSE Nifty 50 staged a strong rebound on Tuesday as Dalal Street bulls cheered the Centre’s extension to the vaccine-for-all drive, its decision to allow states to procure doses directly from manufacturers. Strong buying interest across most spaces, led by banking, financial services, auto and metal stocks, pushed the indices higher, whereas selling pressure in select IT counters limited the upside. The government’s decision to allow 50 per cent of supplies to private hospitals also boosted investors’ sentiment. ICICI Bank, Bajaj Finance, Axis Bank, Reliance Industries (RIL) and Infosys were the top boosts for Sensex. On the flipside, HDFC, HCL Tech and Tata Consultancy Services (TCS) were the biggest drags.
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India likely to waive customs duty on COVID-19 vaccine imports
The government is likely to waive 10 per cent customs duty levied on imported vaccines in a bid to keep low the cost of overseas vaccines that are being eyed to supplement domestically made shots ahead of opening COVID-19 vaccination to all citizens over 18 years of age, sources said. While Russia’s Sputnik V vaccines are due to arrive this month or latest by next month, manufacturers like Moderna and Johnson and Johnson have been urged to seek emergency use approval in India. (PTI)
Asian shares at highest since early March, weak dollar boosts commodities
Asian shares hit a six-and-a-half week top on Tuesday, shaking off an initial drag from tech-driven Wall Street losses, while the dollar stayed at multi-week lows against most other major currencies in a boost for commodities. Chinese blue chips rose 0.30% and Korea gained 0.38%, helping MSCI’s broadest index of Asia-Pacific shares outside Japan to add 0.26% and reach its highest since early March. E-mini futures for the S&P 500 rose 0.23%, but Euro Stoxx 50 futures fell 0.13% and FTSE futures were down 0.07%, suggesting a more cautious European open.
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48 stocks hit 52-week highs on NSE
Among the stocks that touched their 52-week highs on NSE were: Amrutanjan Healthcare, Apollo Hospitals, Cipla, Gland Pharma, JB Chemicals, Jindal Steel & Power, JSW Energy, K.P.R. Mill, NBI Industrial Finance, Supreme Petrochem, Tata Elxsi and Tata Consumer Products.
Nifty IT only sectoral index in red, down 1%
India Ratings and Research (Ind-Ra) has assigned Sobha Limited a long term issuer rating of ‘IND AA, with stable outlook
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Among the stocks that touched their 52-week lows on NSE were: AKG Exim, Taj GVK Hotels, Mittal Lifestyle, Jump Networks, Shradha Infraprojects, Suvidhaa Infoserve, LCC Infotech, Ujaas Energy, Radha Madhav Corporation and DSJ Communications.
AstraZeneca leading the rally in pharma pack
Price as on 20 Apr, 2021 11:33 AM, Click on company names for their live prices.
India VIX eases over 2% to 21.94
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