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News I read on 15th July


1) A longer wait for a vaccine against the Covid-19 virus may lead to a contraction of up to 7.5 percent in the Indian GDP in FY21 and a fall of 4% in the base case.
Ref: Business Standard

2) Former Reserve Bank of India governor Raghuram Rajan indicates that India’s financial sector is in deep trouble as the pandemic-induced recession will lead to an unprecedented level of bad loans in six months’ time.

3) Insurance Sector which have seen their first-year Life insurance premiums contract of 18.6 per cent in the first quarter of the financial year 2020-21 (FY21), could see recovery in the next quarter.
Ref: Business Standard 

4) Wholesale price index (WPI) declined for the third month in a row at 1.81 percent in June, but the rate of contraction fell from a 4.5-year high of 3.21 percent in the previous month.
Ref: Business Standard

5) Global oil demand will soar by a record 7 million barrels per day (bpd) in 2021 as the global economy recovers from the coronavirus pandemic but will remain below 2019 levels.
Ref: Reuters

6) Google is in advanced talks to buy a stake in Reliance Industries Ltd.’s digital arm Jio Platforms Ltd., in the discussion of an Investment of $4Bn.
Ref: Livemint

7) India’s auto sales volume will take another 3-4 years to reach 2018 levels as the coronavirus-induced lockdown hurt monthly revenue and increased pressure on a sector already reeling from poor demand.
Ref: Reuters

8) After a sharp recovery in global equity markets from their March 2020 lows, investor sentiment remains cautious with investors' survey saying the stock market might be overvalued.

9) Flipkart said on Tuesday it raised $1.2 billion in an investment led by its majority owner Walmart Inc valuing the Indian e-commerce firm at $24.9 billion.
Ref: Reuters

10) SEBI has set up a working group to assess the liquidity risk management of debt funds, to tweak the liquidity forms for debt funds, especially open-ended.
Ref: Livemint

On Tuesday, NIFTY closed 195.35 Points lower at 10,607.35

VIX rose by 5.48% and closed at 26.64, the usual safe range for VIX is between 12 to 20.

SGX Nifty trading 81.75 points higher at 08:00 am, Indian Time.

By Kundan Kishore
Please comment important news you read today. Also, in case, if you find any news difficult to understand or comprehend - please comment and ask questions over the news blog.
I will try to answer and others will also help you comprehend the news.