Today's top business news: EIU lowers global growth forecast; LPG price increased; Facebook, Cisco drop out of MWC and more

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Segway-like vehicles were also used by the police to keep an eye on the large crowd on Marina Beach.

16:45

EIU lowers global growth forecast for 2020

The Economist Intelligence Unit has revised its global growth forecast for 2020 down from 2.3% to 2.2%, citing new risks that have arisen since the outbreak of the novel corona virus in China.

"The Chinese authorities are taking unprecedented quarantine measures to curb the spread of the pathogen, which is likely to have an impact on the global economy," said an Economist Intelligence Unit (EIU) report.

The EIU expressed optimism about the growth forecast for India, provided the coronavirus epidemic does not spread to India.

4:25 pm

Singapore Bank clears office after finding virus case

DBS signage can be seen in Singapore. file

DBS signage can be seen in Singapore. file

| Photo Credit:
REUTERS

The Bank of Singapore, DBS, cleared an office in the city center on Wednesday and ordered around 300 employees to work from home after one of their employees was infected with the new virus. AP reported.

DBS said in a statement that it was informed on Wednesday morning that it had been confirmed that an employee was infected and that, as a precaution, all employees working on the same floor had been ordered to work from home.

4:10 p.m.

Sensex collects 350 points, Nifty 12,200 points

A view of the BSE building in Mumbai. file

A view of the BSE building in Mumbai. file

| Photo Credit:
PTI

The Sensex market index continued its gains for the second session, gaining 350 points on Wednesday, driven by HUL, ICICI Bank, Kotak Bank, RIL and HDFC Bank amid a positive trend in global stocks. PTI reported.

HUL was the leader in the Sensex package with an increase of 5%, followed by Kotak Bank, Nestle India, ICICI Bank, Mahindra and Mahindra, Asian Paints and RIL.

Investors were also waiting for inflation and production data to be released later in the day, they added.

15:45

Dr. Reddy acquires Wockhardt's selected generics for 1,850 crore

Today's top business news: EIU lowers global growth forecast; LPG price increased; Facebook, Cisco drop out of MWC and more

Dr. Reddys Laboratories Ltd. has with Wockhardt Ltd. entered into a definitive agreement for the acquisition of selected businesses in its branded generics business in India and some other international territories including Sri Lanka and Maldives for £ 1,850. PTI reported.

The business comprises a portfolio of 62 brands in various therapeutic areas such as respiratory diseases, neurology, VMS, dermatology, pain and vaccines, which together with the associated sales and marketing teams and the production plant in Baddi, Himachal, go to Dr. Reddy will be transferred to Pradesh with all plant employees, it said in a press release.

3:25 p.m.

The LPG price rose by £ 144.5 per cylinder

Government subsidy payments to domestic users increased from £ 153.86 per cylinder to £ 291.48. | file

Government subsidy payments to domestic users increased from £ 153.86 per cylinder to £ 291.48. | file

| Photo Credit:
S. Siva Saravanan

The LPG price for cooking gas was raised by an impressive £ 144.5 per bottle on Wednesday as global benchmarks for fuel soared. PTI reported.

To isolate domestic consumers, the government doubled the subsidy it gave to fuel to keep emissions per cylinder virtually unchanged.

The LPG price has been raised from £ 714 to £ 858.50 per 14.2 kg bottle, according to a price release from state oil companies.

3:00 p.m.

India's telephone industry falls ill when the outbreak of the coronovirus disrupts the supply chain in China: ICEA

Representative picture.

Representative picture.

| Photo Credit:
AP

The telephone industry in India is facing an unprecedented and difficult situation as its supply chain, which is heavily dependent on China, is "severely affected," said the India Cellular and Electronics Association (ICEA) on Wednesday PTI reported.

"This is an unprecedented situation … the industry is helpless," said Pankaj Mohindroo, chairman of ICEA, at an event.

Mohindroo said that supply chain management was "badly affected," but noted that a handful of plants in China have now received permission to open.

2.30

Facebook and Cisco are withdrawing from the Mobile World Conference 2020

File photo of Cisco's campus in San Jose, California.

File photo of Cisco's campus in San Jose, California.

| Photo Credit:
REUTERS

Cisco and Facebook are the latest major technology companies to leave the world's largest mobile industry exhibition, Mobile World Congress 2020 (MWC), and raise concerns about the Coronavirus (2019-nCoV). IANS reported.

“With caution, Facebook employees would not attend this year's Mobile World Congress because of the emerging public health risks associated with coronavirus. We will continue to work with the GSMA and our partners and thank them for their efforts, ”said a company spokesman in a statement on Tuesday.

Cisco went to Twitter to say it wasn't going to be at MWC.

"We made the difficult decision to withdraw from the Mobile World Congress, which is scheduled for February 24-27 in Barcelona, ​​because of concerns about the current outbreak of the corona virus," the company tweeted.

14:00 clock

The SoftBank Group's quarterly earnings were wiped out by Vision Fund losses

In this photo from April 9, 2019, a man walks past a SoftBank store in Tokyo.

In this photo from April 9, 2019, a man walks past a SoftBank store in Tokyo.

SoftBank Group Corp announced an almost complete breakdown of quarterly earnings on Wednesday after the Japanese technology investor suffered losses in its $ 100 billion vision fund loss in the second quarter.

The bad result is likely to increase concerns over the ability of founder Masayoshi Son to secure funding for a second vision fund and give more ammunition to activist investor Elliott Management, who recently emerged as a prominent shareholder.

The numbers are also the most recent reminder of the inherent risk in Son’s strategy of betting on untested startups. The Vision Fund reported an operating loss of 225 billion yen ($ 2.05 billion) from October to December, compared to a profit of 176 billion yen in the same period last year.

But Son, known for his exuberance and charisma – which are still rare in companies in Japan – said that his company was about to turn the corner.

He pointed to a price rally in the Vision Fund's few listed facilities and news, after which a US federal judge refused to contest the proposed merger of SoftBanks Sprint Corp and T-Mobile US Inc. under antitrust law.

"The tide is turning," Son said at a press conference after SoftBank earnings were released.

Net income reached 2.6 billion yen in the quarter, compared to 438 billion yen in the previous year. In this figure is a profit of 332 billion yen from the secondary listing of the portfolio company Alibaba Group Holding Ltd. contain.

The result compared to the 345 billion yen average of three analyst estimates made by Refinitiv. According to analysts, SoftBank's performance is difficult to assess because Vision Fund's internal ratings are not disclosed. Reuters

1:45 p.m.

Crude oil futures benefit from positive global impulses

Crude oil prices rose 27 rupees on Wednesday to 3,607 rupees a barrel as speculators expanded their positions due to the positive overseas trend.

Analysts said the increase in bets by participants would keep crude oil prices higher in futures trading here.

Crude oil for delivery in February was traded on the Multi Commodity Exchange for 27 rupees, or 0.75 percent, to 3,607 rupees per barrel in 25,554 lots.

Crude oil for March delivery rose 29 rupees, or 0.80 percent, to 3,637 rupees a barrel, with an open rate of 1,322 lots.

Worldwide, West Texas Intermediate rose 1.36 percent to $ 50.62 a barrel.

Meanwhile, the New York international benchmark Brent crude rose 1.85 percent to $ 55.01 a barrel. PTI

1.30 p.m.

JGBs slide off when Fed Powell says the US economy is in good shape

Japanese government bond (JGB) prices fell on Wednesday, tracking losses in the U.S. after Fed chairman Jerome Powell said the U.S. economy is robust and current monetary policy remains reasonable.

The reference index for 10-year JGB futures fell 0.19 points to 152.61 with a trading volume of 21,149 lots.

The 10-year Cash JGB return rose 1.5 basis points to minus 0.045%.

The 20-year yield also increased by 1.5 basis points to 0.245%, while the 30-year and 40-year yield increased by one basis point to 0.375% and 0.400%, respectively.

At the shorter end of the market, the two-year JGB yield rose by half a basis point to minus 0.155% and the five-year yield by 1.5 basis points to minus 0.140%.

US bond prices eased on Tuesday after Powell signaled that he saw no reason to adjust US interest rates unless new developments led to a "significant revaluation" of the current outlook. Reuters

1:15 p.m.

NCDEX files provide document for IPO

The National Commodity and Derivatives Exchange Limited (NCDEX) has submitted its offer document to the market surveillance authority Sebi for the IPO.

The IPO includes a new issue of up to 100 billion rupees and an offer for the sale of up to 1.44.53.774 shares by the shareholders in accordance with the Red Herring Prospectus (DRHP) draft.

The issue is expected to increase Rs 500 crore, including the new offer, dealer bank sources said.

Selling shareholders include Build India Capital Advisors LLP, Canara Bank, Indian Farmers Fertilizer Cooperative Limited, Investcorp Private Equity Fund I (formerly IDFC Private Equity Fund III), Jaypee Capital Services Limited, the National Bank for Agriculture and Rural Development , Oman, India Joint Investment Fund and Punjab National Bank, it said.

The Exchange proposes to use the net proceeds to deposit into the Core Settlement Guarantee Fund (Core SGF) and to meet the National Commodity Clearing Limited (NCCL) asset requirements and for general corporate purposes, as described in the document.

The leading managers of the offering are ICICI Securities and SBI Capital Markets.

The National Commodity and Derivatives Exchange is one of the leading exchanges for agricultural commodities in India.

The stock exchange offers services along the entire value chain for agricultural raw materials after the harvest by using a diverse presence and building up a broad network of interest groups and market participants.

The NCDEX Institute of Commodity Markets and Research also deals with research, training and awareness raising for the agricultural commodity market.

Major investors include the Indian National Stock Exchange, the Indian Life Insurance Corporation, the National Bank for Agriculture and Rural Development, the Indian fertilizer cooperative Farmers, the Oman India Joint Investment Fund, the Punjab National Bank, the Canara Bank and Build India Capital Advisors LLP and Investcorp Private Equity Fund I (formerly IDFC Private Equity Fund III).

It is proposed to list the shares on the BSE and the NSE. PTI

1:00 PM

EIU lowers global growth forecast for 2020 against the background of fear of coronaviruses

The Economist Intelligence Unit has revised its global growth forecast for 2020 down from 2.3 percent to 2.2 percent, citing new risks that arose after the outbreak of the novel corona virus in China.

The virus originated in Wuhan, a city of around 11.3 million people in the Chinese province of Hubei. It has spread to most provinces in mainland China and overseas.

"The Chinese authorities are taking unprecedented quarantine measures to curb the spread of the pathogen, which is likely to have an impact on the global economy," said an Economist Intelligence Unit (EIU) report.

Global growth was weak throughout 2019 due to trade tensions, a sharp slowdown in real GDP growth in the U.S., China and India, and political uncertainty in a number of EU countries.

In addition, concerns about corona viruses have increased the threat to global growth since early 2020.

Given that the virus poses a "threat" to global growth, the EIU has revised China's growth downward.

"Assuming that the spread of the virus will be under control by the end of March, we will lower our real GDP forecast for China to 5.4 percent in 2020, down from 5.9 percent previously," a report said EIU.

The base scenario of the Economist Intelligence Unit provides that the health emergency in China will be under control by the end of March.

“The proposed mortality rate had stabilized at 2.2 percent on February 1; However, the risk of a virus mutation and increased transmission during the Chinese New Year travel season and the burden on the Chinese health care system are cause for concern, ”said the EIU.

The EIU expressed optimism about the growth forecast for India, provided the coronavirus epidemic does not spread to India.

"We believe India and Japan in Asia had the best and worst growth rates among the G7 and BRICS countries from October to December," she said.

The report goes on to say: "A number of government stimulus measures combined with a low interest rate environment should boost demand and investment in 2020 and lead to a recovery in real GDP growth for the full year to 6.1 percent (plus), provided that Coronavirus epidemic does not spread to India ”. PTI

12:45 p.m.

Rabi cereal production is estimated to have increased by 4.5% to 134 t in the 2019-2020 period: report

Rabi grain production is expected to increase 4.52 percent year-over-year to 134.23 million tons in 2019-20, due to good soil moisture after above-average rainfall during the monsoon season in the northeast (October to December).

National Bulk Handling Corporation (NBHC) estimates that Rabi total grain production in 2018-19 was 128.43 Mt.

Wheat acreage is expected to increase 12.03 percent to 33.44 million hectares and production is expected to improve 9.01 percent to 111.40 million tonnes.

However, the acreage for Rabi rice, at 2.61 million hectares, is 23.24 percent lower than in the previous year (3.40 million hectares). Production is expected to decrease 27.96% from 14.29 million t in the previous year to 10.30 million t, mainly due to the slight shift in farmers' focus on legumes and wheat.

Total gross grain production is expected to increase by 4.92 percent to 12.54 million tonnes in 2019-20. The production of jowar (2.43 million t), corn (8.28 million t) and barley (1.83 million t) is expected to increase. PTI

12:30 PM

Experts believe that corona viruses have an economic impact

The corona virus, which spread and infected tens of thousands from a fish market in Wuhan, China, has closed businesses, suspended flights, and has killed more than 1,000 people, mostly in China.

While the world's second largest economy is struggling to get back to work after a prolonged New Year, analysts and bankers have reviewed their estimates of the virus' economic impact.

Most believe that China is facing a brief but sharper economic shock than originally thought, which will be felt worldwide. However, expectations of the effects are very different. Healthcare professionals and economists say that opaque Chinese data and lack of precedents prevent clear estimates.

Chinese gross domestic product growth in the first quarter could drop to just 4% on Tuesday, according to Nicholas R. Lardy, a senior fellow at the Peterson Institute for International Economics. This compares to Chinese government estimates of 6% annual growth before the virus appeared.

However, if the number of confirmed cases of new corona viruses continues to decrease, the negative impact on annual growth will be much less, he added.

S&P analysts estimated Tuesday that the virus could reduce China's GDP growth to 5.0% this year, with a peak in the first quarter before a recovery in the third quarter.

"The numbers are very incomplete, which is why the wide range of estimates is so," said Lardy. "Everyone guess."

Many economists and analysts look closely at the historical precedent for the spread of the SARS virus in 2003. However, when SARS broke out, China's contribution to global GDP was only 4% compared to 15% in 2017, and Chinese companies were much less integrated in global GDP supply chains.

All forecasts are also hampered by the fact that Beijing has tightly managed China's economy in the past to achieve certain goals, and there have been doubts as to whether China's economy could grow 6% this year.

In addition, much is still unknown about the corona virus, including the exact incubation period and the effectiveness of the quarantine measures in China. Catherine Troisi, a public health specialist at the University of Texas, said on Tuesday as part of a call from the National Association for Business Economics for the economic impact of the virus.

The Chinese government's authoritarian nature could also hinder the response by reluctant officials to report problems. Adding the latest update of around 43,000 infections is probably a minority.

"It is a culture that shoots the messenger. Local officials are afraid to say anything because of the bureaucracy, ”she said. Reuters

12:15 p.m.

IndusInd Bank shares fall more than 3% after downgrade

IndusInd Bank shares fell over 3 percent on Wednesday after Moody & # 39; s Investors Service lowered its outlook for the company from "stable" to "negative".

The scrip decreased by 3 percent to 1,252.50 rupees for BSE.

On the NSE, it fell 3.16 percent to 1,251.70 rupees.

Concerns about a further deterioration in asset quality have prompted Moody’s to change the outlook for IndusInd Bank from “stable” to “negative” on Tuesday.

The rating of the private sector bank was already confirmed in the previous rating of "Baa-3 / P-3", as Moody & # 39; s said in a note.

Baa3 is the lowest investment-grade rating for long-term corporate commitments with moderate risks.

"The outlook has been changed to negative to reflect the risk of further deterioration in asset quality," he said.

According to Moody's, the quality of assets, especially in the corporate sector, has deteriorated in recent quarters, and this has also been attributed to the strict refinancing conditions of borrowers. PTI

12:00

India's auto production is expected to shrink by 8.3% in 2020; Spread of corona viruses can affect supply chain: Fitch

Fitch Solutions expects India's vehicle production to decline 8.3 percent in 2020 as the auto industry faces an increasing risk of supply shortages due to the outbreak of the Chinese corona virus and may affect domestic production if the virus moves in the country spreads.

In China, where the virus originated, car manufacturers stopped production to limit the number of people and reduce the risk of possible infection for the population. "We see that India has a similar policy if the virus spreads across the country," it said.

Given that the Indian healthcare system is poorly equipped to tackle a major epidemic, the rating agency said: "The impact on Indian cars will be much greater as the virus is likely to spread much faster in the country compared to China."

As China is one of the largest Indian automotive component suppliers, a weakening of the supply of components made in China will lead to bottlenecks in India and force automakers to slow down or stop production.

As a result, we forecast a 8.3 percent decline in vehicle production in India in 2020 after an estimated 13.2 percent decrease in 2019.

The agency expects Indian vehicle production to shrink further in 2020 due to weak domestic demand for new vehicles.

“China supplies India with 10 to 30 percent of its automotive components. Considering the Indian EV segment, this could be two to three times as high. This shows how exposed the Indian automotive industry is to the slowdown in Chinese vehicle component manufacturing, "it said.

Fitch also believes that the protectionist policies set out in the country's 2020 budget for electric vehicles will offer some upside potential for local electric vehicle production, but will be associated with an increased trade risk. PTI

11:45

Gold is falling flat like new virus cases, but concerns remain

Gold barely changed on Wednesday as stock prices rose after the number of new coronavirus cases fell and uncertainty about the economic impact of the outbreak supported the bars.

Spot gold was $ 1,567.82 an ounce (0348 GMT). US gold futures rose 0.1% to $ 1,571.20.

While the death toll exceeded 1,000, China's leading medical advisor for the epidemic could be over by April as the number of new cases has already declined in some places.

"Gold is consolidating as the current fear of viruses increases," said Stephen Innes, chief market strategist at AxiCorp.

However, underlying support for gold continues to come from factors including the negative impact of the virus, the cumulative impact of existing tariffs under the US-China Phase 1 trade agreement, Innes said.

The virus outbreak could reduce Chinese purchases of U.S. agricultural products this year as part of phase 1 trading, according to Robert O & # 39; Brien, the White House's national security advisor.

The US dollar also held gold in check and remained close to the four-month high after the safe haven flows were sucked in as concerns over the coronavirus coincided with the latest data showing the strength of the US economy.

Meanwhile, Asian stocks rose as investors believed the worst epidemic may have passed, but remained limited.

Measures taken by the Chinese authorities to avoid mass layoffs are limiting the price of gold "as this would be positive for growth and optimistic for the equity markets," said Innes of AxiCorp. Reuters

11:30 AM

Yuan inches higher than new viral infections in China fall to almost 2-week lows

The yuan rose Wednesday when China reported the slowest daily growth of coronavirus infections in nearly two weeks, raising hopes that the outbreak could peak and the damage to the economy could be temporary.

New confirmed cases in mainland China – Tuesday at 2:15 p.m. – fell to their lowest level in almost two weeks, the National Health Commission said on Wednesday. New cases in Hubei province in the epicenter also hit the low of January 31.

Zhong Nanshan, Beijing's senior medical advisor, told Reuters that the outbreak peaked in China this month and could end by April, with the forecast based on mathematical models, recent events, and government measures.

At noon, the onshore yuan rose 0.05% to USD / USD 6.9624. The People's Bank of China set the middle rate – which can go down 2% on either side – to $ 6.9718 a dollar before the market opened, which is close to Reuters' estimate.

"Dr. Zhong's recent assessment of the coronavirus epidemic is expected to maintain a risk-friendly mood and support emerging market Asian currencies," Scotiabank strategists said in a note. They said the yuan could continue to move towards $ 6.9 a dollar. The yuan also helped the yuan, which gave up some gains, the OCBC Wing Hang Bank said on Wednesday. Reuters

11:15 a.m.

Samsung launches Galaxy S20 flagship smartphones

The South Korean electronics company Samsung has launched the Galaxy S20, a new series of flagships equipped with 5G and artificial intelligence camera technology to strengthen its position in the high-end smartphone market.

"With the beginning of this new decade, 5G will change the way we communicate … Galaxy S20 variants – Galaxy S20, Galaxy S20 + and Galaxy S20 Ultra – are equipped with 5G connectivity," said Samsung Electronics President and head of Mobile Communications Business TM Roh in a statement.

The company said the Galaxy S20 series introduces artificial intelligence (AI) camera technologies and is built for the future of communication.

The South Korean company is facing strong competition in the premium mobile phones sector from Apple's iPhone and OnePlus.

The Galaxy S20 series, which was presented here at Samsung's "Unpacked 2020" event, also has a new, secure processor that protects against hardware-based attacks.

According to the company, the new phones have significantly improved the camera resolution. S20 and S20 + have a 64MP camera and S20 Ultra has a 108MP camera.

The new phones will be available on March 6 and will cost between $ 999 and $ 1,399, the company said.

At the event, Samsung also introduced a second new smartphone called the Galaxy Z Flip – the company's second folding phone, which is different from the first called the Galaxy Fold.

It will be launched on February 14 at a price of USD 1,380.

The company said the Flip's screen could be folded and unfolded over 200,000 times. PTI

11:00 O'CLOCK

China's GDP target on track despite viral effects, says the economist

China will be able to achieve its long-term goal of doubling gross domestic product and income this year despite the impact of a Conoravirus outbreak, an influential economist from a government think tank told the government on Wednesday.

The virus outbreak will only have a one-time impact on the economy and demand will recover quickly, said Cai Fang, deputy head of the Chinese Academy of Social Sciences (CASS), in an article in People & # 39; s Daily, the newspaper of the Chinese Communist Party.

"Although the temporary effects of the epidemic will slightly slow growth and other development indicators, this will not delay the achievement of the goal of building a moderately prosperous society," said Cai.

This year is crucial for the ruling Communist Party to achieve its goal of doubling gross domestic product (GDP) and income in the decade by 2020.

A growth rate of around 5.7% this year will be enough to achieve the goal of doubling GDP and income, said Cai.

Analysten gehen davon aus, dass sich das Wachstum von einem Wachstum von 6% im letzten Quartal um 2 Prozentpunkte oder mehr stark verlangsamen könnte, sagen jedoch, dass sich die Geschäfts- und Verbraucheraktivitäten stark erholen könnten, wenn der Ausbruch bald seinen Höhepunkt erreicht, ähnlich wie während der SARS-Epidemie im Jahr 2003.

Die Regierung sollte politische Instrumente zeitnah und flexibel einsetzen und "unkonventionelle politische Instrumente" einführen, um die Wirtschaft zu unterstützen, sagte Cai ohne näher darauf einzugehen.

Die Regierung hat einige Konjunkturmaßnahmen ergriffen, darunter die Bereitstellung von Liquidität für das Bankensystem, die Bereitstellung von Krediten und steuerliche Unterstützung für einige Unternehmen, und es werden weitere Schritte erwartet.

Die Epidemie hat die Rückkehr von Arbeitsmigranten in die Städte verzögert und die Wiederaufnahme der Geschäftstätigkeit der Unternehmen beeinträchtigt, was zu Arbeitslosigkeit und niedrigeren Einkommen führen könnte, sagte Cai.

Regionen, die nicht von der Epidemie heimgesucht wurden, sollten Arbeitsmigranten die Möglichkeit geben, in die Städte zurückzukehren und den Betrieb wieder aufzunehmen, sofern der Ausbruch unter Kontrolle ist. Reuters

10:45

Die Rupie steigt im frühen Handel gegenüber dem US-Dollar um 7 paise auf 71,21

Die Rupie legte am Mittwoch im Eröffnungshandel gegenüber dem US-Dollar um 7 paise auf 71,21 zu, was auf die positive Eröffnung inländischer Aktien zurückzuführen ist.

Forex-Händler sagten, eine positive Öffnung inländischer Aktien unterstütze die lokale Einheit, während steigende Rohölpreise, Auslandsabflüsse und die Stärkung der amerikanischen Währung die Rupie belasteten und deren Aufwärtsbewegung einschränkten.

Darüber hinaus habe sich die Rupie vor der Inflation weiter in einem engen Bereich konsolidiert, und die Industrieproduktion sei im Laufe des Tages bekannt geworden, fügten sie hinzu.

Die Rupie öffnete stark bei 71,24 am Interbanken-Devisenmarkt und stieg dann weiter auf 71,21 pro Dollar. Gegenüber dem Greenback verzeichnete sie einen Gewinn von 7 paise.

Am Dienstag hatte sich die Rupie bei 71,28 gegenüber dem US-Dollar eingependelt.

Der Referenzindex BSE Sensex wurde mit einem Plus von 370,21 Punkten oder 0,90 Prozent gehandelt, um bei 41.586,35 zu notieren, während der NSE Nifty bei 12.205,30 gehandelt wurde, was einem Plus von 97,40 Punkten oder 0,08 Prozent entspricht.

Ausländische institutionelle Anleger verkauften am Dienstag nach vorläufigen Börsendaten Aktien im Wert von 209,39 Rupien netto.

Währenddessen notierte Brent Raw, die globale Benchmark, um 1,78 Prozent höher bei USD 54,97 pro Barrel.

Der Dollarindex, der die Stärke des Greenback gegenüber einem Korb mit sechs Währungen misst, stieg um 0,04 Prozent auf 98,75.

Die Rendite 10-jähriger Staatsanleihen lag im Morgenhandel bei 6,48 Prozent. PTI

10:30 Uhr

Sensex legt über 300 Punkte vor dem IIP zu, wie die Inflationsdaten zeigen

Markt-Benchmark Sensex legte in der Eröffnungssitzung am Mittwoch über 300 Punkte zu, getrieben von Zuwächsen bei HDFC-Zwillingen, RIL, ICICI Bank und HUL vor der Veröffentlichung von Inflations- und Produktionsdaten.

Der 30-Aktien-BSE-Index notierte mit 41.547,18 um 331,04 Punkte oder 0,80 Prozent höher und der breitere NSE verbesserte sich um 93,50 Punkte oder 0,77 Prozent auf 12.201,40.

In der vorangegangenen Sitzung legte Sensex 236,52 Punkte oder 0,58 Prozent höher bei 41.216,14 zu und Nifty stieg um 76,40 Punkte oder 0,64 Prozent auf 12.107,90.

Auf Nettobasis verkauften ausländische institutionelle Anleger Aktien im Wert von 209,39 Mrd. Rupien, während inländische institutionelle Anleger am Dienstag Aktien im Wert von 344,63 Mrd. Rupien kauften.

HUL war mit einem Anstieg von bis zu 3 Prozent der Spitzenreiter im Sensex-Paket, gefolgt von Tata Steel, NTPC, HDFC, Nestle India, PowerGrid und Axis Bank.

Auf der anderen Seite war die IndusInd Bank der einzige Nachzügler in der Morgensitzung.

Den Analysten zufolge dürften inländische Investoren im Januar weiterhin auf die letzten Zahlen des dritten Quartals, die Fabrikproduktion und die VPI-Inflation fokussiert sein. Gemäß dem Konsens wird erwartet, dass die Inflation erhöht bleibt, was die jüngsten Maßnahmen der Zentralbank bestätigt.

Der Markt verzeichnete auch positive Impulse von den globalen Märkten, die trotz der Besorgnis über das Coronavirus (COVID-19) auf festem Fuß blieben.

Positiv entwickelten sich die Börsen in Shanghai, Hongkong, Tokio und Seoul.

Die Börsen an der Wall Street schlossen am Dienstag mit Kursgewinnen.

Unterdessen legte die Rupie am Vormittag gegenüber dem US-Dollar um 5 Prozentpunkte auf 71,21 zu.

Die globale Rohöl-Benchmark Brent legte um 1,72 Prozent auf 54,94 USD pro Barrel zu. PTI