The spike in food prices at the onset of the monsoon season has corroborated the Reserve Bank of India's (RBI's) view that the fight against inflation is far from over, the State of the Economy report of the central bank said. At the same time, the report said that the country is poised to become the fastest-growing major economy in the world, notwithstanding some sequential moderation in economic activity in June. Consumer Price Index (CPI)-based inflation rate increased to 4.8 per cent in June 2023, from 4.3 per cent in May, primarily on account of an increase in food inflation.
The World Health Organisation (WHO) has classified the EG.5 strain of the SARS-CoV-2 virus circulating in different parts of the world, including India, as a 'variant of interest' but said it did not seem to pose more of a threat to public health than other strains.
The positivity rate also mounted to 4.11 from 3.57 per cent a day before, amid a massive surge in cases in the span of the last few weeks.
As of now, Gennova Biopharmaceuticals has launched a vaccine, Gemcovac-OM, which is based on the Omicron variant.
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He should have played ahead of Shardul Thakur and Prasidh Krishna in the Test series opener against South Africa but when Mukesh Kumar finally got his chance at Newlands, the Indian team realised what exactly it missed during the mauling in Centurion.
The Centre has asked states and union territories witnessing surge in new COVID-19 cases and high active caseload to continue with the strategy of 'test, track and treat' that had yielded rich dividends at the height of the pandemic and accelerate vaccination for priority population groups in districts reporting higher infections on mission mode.
Several food and grocery delivery firms witnessed their highest ever single-day orders on New Year eve, December 31. Zomato achieved a record-breaking number of orders on its app. The company carried out nearly as many orders on December 31 as the total for the equivalent day in the period from 2015 to 2020.
On Monday, the state had recorded 1,036 infections while Mumbai had reported 676 cases. It may be noted that generally fewer cases are recorded on Mondays as fewer tests are carried out during weekends.
In a letter to states and Union Territories, Union health secretary Sudhansh Pant underlined that "due to consistent and collaborative actions between the Centre and state governments, we have been able to sustain the (COVID-19) trajectory at sustainable low rates".
RBI's interest rate decision, macroeconomic data, global trends and trading activity of foreign investors are the crucial factors to drive equity markets in a holiday-shortened week ahead, analysts said. Markets would remain closed on Monday for Gandhi Jayanti. "While global cues will continue to dictate trends in local markets, focus will shift to RBI's monetary policy announcement on Friday. "Although the market is expecting a status quo on interest rates, global concerns like rising US dollar index and bond yields coupled with surging crude oil prices continue to weigh on investors' minds.
The doubling time of coronavirus cases in India has improved to 15.4 days from 13.3 days, the Union health ministry said on Saturday, as the country's COVID-19 death toll climbed to 4,971 and the total cases rose to 1,73,763. The doubling time has improved during the past three days, it said. As many as 11,264 COVID-19 patients have been cured in the last 24 hours till Saturday 8 am, the highest number of recoveries recorded in one day, pushing India's recovery rate to 47.40 per cent, it said.
'With China falling out of favour, India is where investors see the demographic and digital dividend apart from the benefits of reforms playing out.' 'Your prime minister has also done a great job of sharing this story with the world.'
All six members of the Reserve Bank of India's (RBI's) monetary policy committee (MPC) expressed caution over food inflation during the December review, while two external members warned about high real interest rates as headline inflation approaches its target of 4 per cent. The central bank continued to maintain the status quo on both the repo rate and the stance in the December monetary policy. India's retail inflation in November rose to 5.5 per cent - its fastest pace in three months - due to higher food prices.
If states have to fall in line with MSPs declared by political parties, they will have to do so in violation of central order or bear the full expense of the surplus procured at above MSP rates.
From the Sensex pack, Bharti Airtel, HDFC Bank, Titan, UltraTech Cement, ITC, Sun Pharma, Bajaj Finserv, Bajaj Finance, Hindustan Unilever and Kotak Mahindra Bank were among the major gainers. Tata Steel, Axis Bank, NTPC, ICICI Bank and IndusInd Bank were the major laggards.
The country saw 1,702 new cases of Omicron variant, the highest in a single day so far, and an increase of 28.17 per cent since Saturday.
During the month, inflation in vegetables shot up to 35.99 per cent, as against 26.10 per cent in October. Likewise, the prices of cereals and eggs grew at a faster pace of 3.71 per cent.
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'If rate cuts happen, bond yields will come down and investors will make mark-to-market capital gains on them.'
Seizures in poll-bound states see sharp rise since implementation of Model Code of Conduct.
Similar discounts compared to online led to a spike in demand for offline, where customers can get a more personal and hands-on product experience.
Jet fuel or ATF price on Wednesday was cut by almost 6 per cent after four rounds of monthly increases since July, while commercial cooking gas (LPG) rates were raised by a steep Rs 101.5 per 19-kg cylinder in line with international benchmarks. However, the price of domestic LPG - used in household kitchens for cooking purposes - remained unchanged at Rs 903 per 14.2-kg cylinder. Aviation turbine fuel (ATF) price was cut by Rs 6,854.25, or 5.79 per cent, in the national capital to Rs 111,344.92 per kl from Rs 118,199.17, according to a price notification of state-owned fuel retailers.
As the virus continued to spread at an alarming rate, Chinese President Xi Jinping on Monday warned officials of punishment if they shirked responsibility in tackling the virus outbreak.
Concern would kick in if imports stay at or over 100 tonnes a month.
With the COVID-19 positivity rate touching 0.55 percent, the Delhi government has decided to re-impose night curfew from Monday, according to sources.
A PTI tally of figures announced by states and UTs, as of 9.30 pm, showed the total number of confirmed cases having risen to close to 2.1 lakh and the death toll to approximately 6,000, showing an increase of nearly 9,000 cases since Tuesday evening and at least 273 more fatalities in this time period.
Domestically, Indians are exploring popular beach destinations, the hills of Himachal Pradesh and Uttarakhand, and the North-Eastern region as well.
It was an eventful weekend for Bollywood as the box office saw a different kind of trend, as compared to the traditional ways when collections keep going up from Friday to Sunday.
Benchmark indices Sensex and Nifty settled with gains for the third straight session on Monday, helped by buying in auto, banking and capital goods shares despite a spike in crude oil prices. The 30-share BSE Sensex rose 114.92 points or 0.19 per cent to close at 59,106.44 points with 22 of its components ending in the green and eight closing lower. It moved in a range of 58,793.08 points to 59,204.82 points during intra-day trade.
Under its Agile business model, the company has started using its off-shore base up to the extent of 90 per cent which, along with several other measures, will benefit its operating margins, said Chief Operating Officer N Ganapathy Subramaniam.
GDP growth of 7.7 per cent in the first half of this fiscal has "left sceptics gasping and woefully behind the curve", an RBI article said on Wednesday. It also stressed the buildup in the growth momentum is likely to be sustained. The article on the state of the economy published in the Reserve Bank's December Bulletin on Wednesday also said CPI-based retail inflation is expected to ease to 4.6 per cent in the first three quarters of 2024-25 from 5.6 per cent in November.
'Seek medical help if after five days of the first symptom the fever has not subsided.'
Start the day with some whole grains or oats. Include a good source of fibre-containing food with every meal or snack.
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The daily rise in infections (39,726) was the highest recorded in 110 days, while the death toll increased to 1,59,370 with 154 daily new fatalities, the data updated at 8 am showed.
Registering an increase for the seventh day in a row, the total active caseload has increased to 2,34,406 which now comprises 2.05 per cent of the total infections, while the recovery rate has further dropped to 96.56 per cent, the data stated.
The United States military forces on Thursday (US local time) conducted self-defence strikes on two facilities in eastern Syria used by Iran's Islamic Revolutionary Guard Corps (IRGC) and affiliated groups.
Debt fund managers are reassessing their strategies after the setback delivered by the Reserve Bank of India recently. While most are refraining from any knee-jerk reaction to the central bank's surprise open market operation (OMO) announcements, they are taking a re-look at the duration of their schemes. Sandeep Yadav, head of fixed income at DSP Mutual Fund, said it has trimmed the duration of some schemes, considering the hawkish stance by the RBI.
Existing optimism about the capital goods sector has been enhanced by the Assembly election results, which were favourable for the BJP. The prospects of political continuity led to renewed interest in the sector. There are demand-supply gaps, especially in power, and visibility of improved pricing and strong order flows, including from private enterprises.
