News I read on 21st July

1) Global equity markets rebounded on Monday on optimism the European Union would agree on a recovery fund to help revive regional economies hit by the coronavirus, but worries about the pandemic’s economic and human toll pushed gold prices higher.
Ref: Reuters

2) India is looking to privatize more than half of its state-owned banks to reduce the number of government-owned lenders to just five as part of an overhaul of the banking industry.
Ref: Reuters 

3) Increased borrowing by the government given is likely to push up India’s debt further to around Rs 170 trillion, or 87.6 percent of the gross domestic product (GDP) in the current financial year 2020-21 (FY21)
Ref: Business Standard

4) The Supreme Court Monday said it will not hear "even for a second" arguments on re-assessment of Adjusted Gross Revenue (AGR) related dues of telecom companies which approximately run into Rs 1.6 trillion
Ref: Business Standard 

5) Oil prices remained steady on Monday as coronavirus cases increased in many countries, though cautious investor optimism about a potential COVID-19 vaccine and ongoing talks over a European Union fund to revive economies.
Ref: Reuters 

6) Markets regulator Sebi on Monday released framework to enable verification of upfront collection of margins from clients in cash and derivatives segments.
Ref: Livemint 

7) India is seeking concessions for generic drugs it exports to the United States in return for opening its dairy markets and slashing tariffs on farm goods as the two sides seek to shore up a new trade deal.
Ref: Livemint 

8) Indian shares ended higher today for the fourth day in a row. The NSE Nifty 50 index closed up 1.1% at 11,022.2, reclaiming the 11,000 level after four months.
Ref: Livemint 

9) India’s Infrastructure Leasing & Financial Services (IL&FS) said on Monday it expected to resolve about 57% of its near trillion rupee ($13.35 billion) debt pile even as the pandemic delayed the resolution process in some of the group companies.
Ref: Reuters 

On Monday, NIFTY closed 120.50 Points higher at 11,022.20

VIX rose by 2.30% and closed at 24.71, the usual safe range for VIX is between 12 to 20.

SGX Nifty trading 105.00 points higher at 08:00 am, Indian Time