News I read on 16th July

1) India posted a trade surplus of $790 million in June, its first in over 18 years, with imports plunging as the coronavirus pandemic depressed domestic demand for crude oil, gold, and other industrial products, reflecting a slowing economy.
Ref: Reuters 

2) World shares strode to four-month highs on Wednesday as hopes for a coronavirus vaccine offset rising U.S.-China tensions and helped lift the euro and oil prices too.
Ref: Reuters 

3) Public sector banks (PSBs) have purchased bonds and commercial papers worth Rs 14,667 crore issued by 67 NBFCs under the revamped Partial Credit Guarantee Scheme (PCGS)
Ref: Business Standard

4) Information technology services company Larsen & Toubro Infotech (LTI) reported revenue of ₹2,949 crores up 18.7% Y-o-Y. , for the first quarter ended June 30. Profit stood at ₹416.4 crores up 17.1% over Y-o-Y.
Ref: Livemint 

5) Debt moratorium given by the Reserve Bank of India till August following the COVID-19 outbreak is a major relief for borrowers but could disrupt the microfinance model of lending, research shows.
Ref: Livemint 

6) Information technology (IT) major, Infosys, on Wednesday reported an 11.4 percent year-on-year (YoY) rise in its consolidated net profit at Rs 4,233 crore for the Q1FY21.
Ref: Business Standard 

7) India’s shadow banks are benefiting from a drop in borrowing costs after government stimulus steps, but the troubled sector faces more challenges ahead as the economy reels from the pandemic as the lenders’ borrowing costs declined in June for a second straight month.
Ref: Financial Express 

8) Reliance Industries Limited(RIL) AGM Highlights - Jio- Google Deal, 5G Rollout, Joint Venture with BP, and other announcements.
Ref: Business Standard 

9) India's service sector exports dipped by 10.14 percent to USD 16.77 billion in May, whereas imports in May stood at USD 9.94 billion, down 20.45 percent, according to the central bank data.
Ref: Yahoo Finance 

10) The share of industrial credit in total bank credit declined to 31.5 percent in March 2020 as against 33.1 percent a year ago, Reserve Bank data showed.
Ref: Financial Express

On Wednesday, NIFTY closed 10.85 Points higher at 10,618.20

VIX dropped by 1.30% and closed at 26.29. The usual safe range for VIX is between 12 to 20.

SGX Nifty trading 14.00 points lower at 08:00 am, Indian Time