News i read on 12th June

1) India's fundamentals demand a much better rating, said Chief Economic Advisor after Moody's downgraded the country's rating and S&P retained it at the lowest investment grade.
Ref:Business Standard

2) The Supreme Court on Thursday directed the telecom companies, to finalize a road map of payment of Adjusted Gross Revenue (AGR) related dues to the government.
Ref:Business Standard

3) The Reserve Bank of India (RBI) on Thursday issued a discussion paper to set new and contemporary standards of governance at commercial banks.
Ref:Livemint

4) The increase in fuel retail prices comes as a relief to Oil Marketing Companies, as estimated marketing margins dropped quite low recently.
Ref:Livemint

5) The government is working with the assumption that the economy may contract in the current financial year and with uncertainty over recovery period.
Ref:Livemint

6) Retail sales of passenger cars dropped by 86.97% and two-wheelers sales dipped 88.80 % in May. Overall auto retail sales witnessed a drop of 88.87%.
Ref:Business Standard

7) According to a new report, India can achieve $100 billion in mobile phones and nearly $40 billion in component exports by 2025. 
Ref:Business Standard

8)Asian equities are set to fall sharply on Friday after Wall Street stocks and oil tumbled over growing concerns that a resurgence of coronavirus infections could stunt the pace of reopening economies.
Ref:Livemint

9) Oil prices tumbled more than $3 a barrel on Thursday, fuelled by renewed concerns about demand destruction as new cases of coronavirus tick up globally. 
Ref:Reuters

10) International trade is set to plunge by 27% in the second quarter and by 20% for the year, as major sectors, including the automotive and energy industries, collapse from the effects the pandemic.
Ref:Reuters

11) On Thursday, NIFTY closed 214.15 Points lower at 9902.00. 
VIX rose by 0.76% and closed at 29.66, the usual safe range for VIX is between 12 to 20. 
SGX Nifty trading 287 points lower at 8:00 am, Indian Time.