News I read on 2nd July

1) Wall Street opened higher as rising hopes of a Covid-19 vaccine reversed premarket losses, overshadowing fears of another round of lockdowns following a record surge in coronavirus cases in the United States.
Ref: Business Standard 

3) The goods and services tax (GST) collections stood at Rs 90,917 crore in June, contracting for the third month in a row year-on-year, an improvement from 38.17% in May, and 71.63% decrease in April.
Ref: Business Standard

4) Easing restrictions on imports from China, the Customs department has decided to clear pharma raw material shipments from that country, providing relief to pharma firms.
Ref: Business Standard 

5) Gold prices in India hit an all-time high on Wednesday, tracking a global rally, as surging coronavirus cases in many countries raised the metal’s safe-haven appeal.
Ref: Reuters 

7) With India unlocking its economy, automakers witnessed good wholesale volumes in June compared to the previous month, but a bounce back to pre-COVID levels is still some time away.
Ref: Livemint 

8) India's unemployment rate in June fell to 11 percent from 23.5 percent in May, according to CMIE, as economic activities resumed after the government eased pandemic lockdown restrictions.
Ref: Moneycontrol 

9) The Covid-19 pandemic may set back the recovery of banks by years, which would hit credit flows and, ultimately, the economy, Standard and Poor’s (S&P).
Ref: Business Standard 

On Wednesday, NIFTY closed 127.95 Points higher at 10,430.05

VIX got lowered by 3.47% and closed at 28.11, the usual safe range for VIX is between 12 to 20.

SGX Nifty trading 82.95 points higher at 08:00 am, Indian Time.