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Today was a historic day with Sensex and Nifty 50 making a record high along with S&P 500 which made a record high as well after the news of Pfizer vaccine came out.
- S&P 500 made a record high after the news of Pfizer and BioNtech said that their vaccine is 90% effective when a person who hasn’t contracted COVID-19 earlier there is a 90% probability that they won’t get covid when they come in contact with it. As Indian indices closed before the news was announced the news hasn’t been factored in yet which would mean bulls in the market tomorrow as well.
- Rupee falls by 7 paisa during the day and trade and is set at 74.15 against the US dollar. Currency though opened at 73.95 and gained more strength and settled at 73.85 before it started to fall.
- The new re-forms in agriculture sector will allow farmers and agriculture sector workers to introduce themselves to market there by eliminating the need of middleman completely, while addressing the Lok Sabha constituency he also added the issuance of property cards to farmers which will help them in getting loans and possession of their lands in inappropriate ways will also stop.
- The 19 coal blocks faced the auction for commercial mining is estimated to generate Rs 7000 Cr per annum and almost 69,000 jobs once operational.
- Tata Steel has entered into first of it’s kind partner ship with Hindustan Zinc to suffice their needs for zinc, Hindustan Zinc is to complete requirements of Tata Steel and Tata Steel BSL. The cater amount is said to be almost 45,000 tonnes of zinc along with some other value added metals.
- India, Australia and Japan are planning to increase their trading proposal by adding more like minded indo-pacific countries to counteract on China which is showing the dominance in world trade.
- Pfizer has claimed of finding a vaccine which proves to be effective in preventing the virus, the vaccine currently in first stage of phase 3 trials has proved to be of 90% efficacy and the officials are said to be confident with data and ever since Pfizer stocks as well as all the vaccine related stocks are blooming in the market.
- Indian economy which was ripped off by the pandemic is putting an optimistic bid on the agricultural sector as the country saw ample amount of rains through out the monsoon. The incomes in rural sector are recorded to be quite strong as the production from food grain marked a record of 144.5 million tonnes.
- Paytm under Merchant Lending Program is to disburse loans worth RS 1000 Cr, it will offer collateral free loans to business application users and as per data, they aim to help 17 million merchants.
- Indian cotton production will drop by 1.1% to 35.6 million bales for year 2020/21 due to excessive rainfalls and pink bollworm infestation to the yield. The country’s consumption also increased by 32% due to pandemic.