Prime Minister Modi will meet with global oil and gas CEOs and experts today – The discussion will be held to examine the major challenges faced by the oil and gas industry, as well as future prospects.
Lakhimpur Kheri Violence Case - Today the Supreme Court will hear the case of eight people slain in Lakhimpur Kheri during a farmers' protest on October 3rd. The issue will be heard by a bench consisting of Chief Justice N V Ramana, Justices Surya Kant and Hima Kohli, who voiced their displeasure with the Uttar Pradesh government's actions in the "brutal" murder of eight people on October 8. Ten individuals, including Union Minister of State’s son Ashish Mishra has been arrested.
Uttarakhand Flood Updates: 16 People Killed in Heavy Rains, State Destroyed - A bridge under construction across the Chalthi river in the Champawat area was swept away owing to rising water levels amid the turmoil. For the third day in a row, heavy rain in Uttarakhand has caused chaos and tragedy across the mountainous state, with flooded roads and houses, damaged bridges, and overflowing water bodies stranding people and visitors in isolated and perilous areas. 16 individuals, including Nepalese labourers, have been confirmed deceased.
• Global indices rise backed by stronger earnings. All 3 U.S. indices close in on their all-time-highs as the Dow reverses Monday's losses and Nasdaq gains for a fifth straight day in trade.
• European markets gained too. All major European indices were in the green except the CAC which was flat in trade on Tuesday. Asian indices have opened positive today following global markets.
• The SGX Nifty which fell yesterday is flat in early trade today as oil prices rose above USD 83 a barrel and bond yields rose too.
The US 10 year treasury yields rose above the 1.6% mark and are at 1.661% mark in early trade today – rising almost 90 basis points since yesterday morning. The Dollar index though, closed 0.23% lower in trade yesterday and is up just 1 basis point in early trade today. Bitcoin gained 5% and is above the USD 64k mark in early trade today.
Asian stocks rise despite a downgrade by the IMF. The IMF cut growth forecast for the region from 7.6% to 6.5%. The Nikkei and the ASX 200 are up over half a percent in early trade. The Nikkei and ASX 200 are up 0.9% in early trade today while the Kospi rose 0.2% in early trade today. The SGX Nifty Futures closed lower yesterday for the first time after gaining for 8 straight trading sessions. SGX Nifty Futures closed 0.32% lower in trade yesterday and is up 0.13% in early trade today.
Earnings to be reported today
• Tata Communications
• Jubilant Foodworks,
• L&T Finance,
• Just Dial
India nearing 100 crore mark for Covid-19 vaccination. However, feat masks a significant gap between those who have been completely vaccinated and those who have just gotten one shot.
It's also worth noting that by far no sign of a new Covid variant in last 6 months. 'Continuous vigilance,' on the other hand, is the order of the day.