Jindal Steel & Power | JSPL December production was up 18.4 percent (MoM) and up 30 percent (YoY) at 7.27 lakh tonnes, while sales were up 25.8 percent (MoM) and up 25.4 percent (YoY) at 7.11 lakh tonnes. JSPL has reported highest ever monthly production in December. Q3 production up 19.63 percent at 19.26 lakh tonnes and sales up 12.3 percent at 18.76 lakh tonnes, YoY.
Crude Oil Update | Oil prices edged lower on Monday, the first day of 2021 trading, ahead of a meeting of OPEC and allied producers to discuss output levels for February with fears for first-half demand seeping into the market as the coronavirus pandemic lingers.
Japan snaps 19-month decline in factory activity in December – PMI
Japan’s factory activity ended a record 19-month run of declines in December as output stabilised for the first time in two years, suggesting manufacturers are shaking off the negative impact from the coronavirus pandemic.
The final au Jibun Bank Japan Manufacturing Purchasing Managers’ Index (PMI) rose to a seasonally adjusted 50.0 in December from the previous month’s 49.0 and a preliminary 49.7 reading
India approves Covishield and Covaxin for emergency use
Eleven months after the first case of deadly coronavirus was detected in India, Drug Controller General of India (DCGI) V.G. Somani on Sunday approved Serum Institute of India’s ‘Covishield’ vaccine and Bharat Biotech’s ‘Covaxin’ for emergency use, paving the way for their roll-out and administration to millions. The vaccine will be first offered to one crore healthcare workers, along with two crore frontline and essential workers and 27 crores elderly, mostly above the age of 50 years with co-morbidities.
The Subject Expert Committee, tasked with vetting the vaccine proposals, had recommended Oxford-Astra Zeneca’s ‘Covishield’ and Bharat Biotech’s indigenous ‘Covaxin’ for emergency use approval on January 1 and 2, respectively. The final call was to be taken by the DCGI. The expert panel recommended granting permission for restricted emergency use of ‘Covaxin’ in “public interest as an abundant precaution, in clinical trial mode, especially in the context of infection by mutant strains. Continue reading.
Asia shares given pause by Tokyo lockdown talk
Asian share markets hit pause on Monday as reports of a possible tightening in coronavirus emergency rules for Tokyo pulled Japanese stocks off 30-year highs, while also lifting the safe-haven yen. Investors are still counting on central banks to keep money super cheap while the rollout of coronavirus vaccines helps revive the global economy over time, but much of that optimism is already priced in and the virus is not cooperating.
Japan’s Nikkei shed its early gains to fall 1.1 percent when Fuji TV reported the government was considering a state of emergency for capital Tokyo and three surrounding prefectures. MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.1 percent, a whisker from a record high. Read more here.
SGX Nifty | The trend on SGX Nifty indicates a positive start for the broader index in India. The Nifty futures were trading 113.50 points or 0.81 percent higher at the 14,129.50 level on the Singaporean Exchange.
First up, here is quick catchup of what happened in the markets on Friday
The Indian benchmark equity indices, Sensex and Nifty ended higher on Friday led by gains in PSU banks and auto stocks. The Sensex ended 117.65 points or 0.25 percent higher at 47,868.98, while Nifty settled at an all-time high level of 14,018.50, up 36.75 points or 0.26 percent. Broader markets outperformed the benchmarks with Nifty Smallcap100 and Nifty Midcap100 ending more than 1 percent higher each.
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