News I read on 23rd July

1) The S&P 500 and the Dow advanced on Wednesday as signs of another round of government stimulus for the virus-stricken U.S. economy countered worries over worsening ties between the United States and China.
Ref: Reuters

2) Gold prices in India rose above the psychologically important 50,000 rupees level for the first time on Wednesday, as expectations of more stimulus to resuscitate pandemic-hit economies lifted the metal’s appeal as an inflation hedge.
Ref: Reuters

3) Economic activity continues to remain weak and will lead to a 6.1 percent contraction in India's GDP in the current fiscal, as per Nomura agency
Ref: Business Standard

4) Retailers estimate 64% de-growth in their business in the first half of July 2020 as compared to the same period last year as the Indian retail industry continues to face hurdles at state and local levels making recovery all the more distant.
Ref: Livemint

6) Domestic equity markets have seen a surge in retail participation since the coronavirus aided lockdown was initiated in March this year, said Securities and Exchange Board of India (SEBI)
Ref: Financial Express

7) Reliance Industries (RIL) share price climbed up nearly 2 per cent to hit a fresh record high of Rs 2,010 apiece on BSE, taking the market capitalisation of the firm to Rs 12.71 lakh crore, and making Mukesh Ambani 5th Richest person in the world.
Ref: Financial Express

8) Larsen & Toubro (L&T) saw its profit before tax (PBT) crash 66 per cent year-on-year in the April to June 2020 quarter (Q1), hurt by the lockdown
Ref: Business Standard

9) Oil prices fell on Wednesday as U.S. government data showed a surprise rise in U.S. crude inventories, and as tensions escalated between the United States and China.
Ref: Reuters

10) The European Union will propose “quick fixes” to liberalize its capital markets rules in the coming days, which it says are aimed at encouraging investment in companies hurt by the coronavirus crisis.
Ref: Reuters

On Wednesday, NIFTY closed 29.65 Points lower at 11,132.60

VIX rose by 1.87% and closed at 24.88, the usual safe range for VIX is between 12 to 20.

SGX Nifty trading 4.50 points lower at 08:00 am, Indian Time