Follow our LIVE blog for the latest updates on the novel coronavirus pandemic and its impact
Economic recovery in India ‘major challenge’ unless virus is controlled: Moody’s
The chairman of Moody’s Investors Service has warned that economic recovery in India will remain a “major challenge” unless the number of COVID-19 cases starts declining. “The only tool we have right now [to fight coronavirus] is social distancing and that’s exceptionally hard to do in India,” Henry McKinnell told The Financial Times adding that a vaccine for the deadly virus is still a long way off. “Hopefully we’ll have a vaccine, but I think the vaccine is going to take longer than people understand,” McKinnell added.
ICICI Bank to consider fund raising: The meeting of the board of directors of the company is scheduled on July 08, 2020 to consider and approve the proposal of raising funds by issue of equity shares and/or other equity linked securities, through permissible mode(s) including but not limited to a private placement, preferential issue, qualified institutions placement, further public offer, etc., or any combination thereof, subject to shareholders’ approval and regulatory and other approvals as may be required, it added.
Gainers and Losers on the BSE Sensex:
Zydus gets Mexican regulator nod: Zydus has received approval from the regulatory authority of Mexico, COFEPRIS, for its one of its lead research candidate Desidustat to be tested in the management of COVID-19. Clinical and regulatory development of Desidustat in COVID-19 is being executed in Mexico by Avant Santé Research Center S.A. de C.V., a leading Contract Research Organization (CRO) headquartered in Monterrey, Mexico.
#MarketsWithMC | Opening Bell 🔔: Indices open higher with #Nifty above 10,700; banks in focus
Stay tuned to @moneycontrolcom for the latest updates on #Sensex and #Nifty#StocksToWatch #StockMarket | LIVE: https://t.co/r6gThejKqb pic.twitter.com/2amgMOlnuk— moneycontrol (@moneycontrolcom) July 6, 2020
Market Opens: Indian indices opened higher on July 6 with Nifty above 10700 tracking positive global markets
At 09:16 IST, the Sensex was up 313.48 points or 0.87% at 36334.90, and the Nifty was up 109.40 points or 1.03% at 10716.80. About 883 shares have advanced, 302 shares declined, and 71 shares are unchanged.
Indian markets are likely to open in the green tracking positive Asian cues and good economic data from the US. However, global news flows and sector specific developments would be key monitorables.
In pics | Stocks in the news: HDFC Bank, Sobha, National Fertilizers, Adani Ports, Crest Ventures, Dynamatic Tech, Indiabulls Housing
DJ Mediaprint & Logistics | Hindustan Oil Exploration | Ajanta Pharma | | Marico | National Fertilizers | Premier | Metropolis Healthcare | McLeod Russel India | Mercator are also some of the stocks…
Market at pre-open: Benchmark indices are trading mixed in the pre-opening session.
At 09:03 IST, the Sensex was down 1,199.17 points or 3.33% at 34822.25, and the Nifty was up 105.20 points or 0.99% at 10712.60.