Sensex gains for 2nd day, ends 437 pts up at 46,444; HUL, Infy top gainers

Topics MARKET WRAP | Markets | Coronavirus

Bulls had a field-day on D-Street on Wednesday as the benchmark indices ended the day near day's high as investors picked up information technology, realty, and financial stocks. Heavy-weights Infosys, Hindustan Unilever, TCS, ITC, and Bajaj Finance were the top Sensex contributors today.

The benchmark S&P BSE Sensex ended the day 437 points, or 0.95 per cent, higher at 46,444 levels, surging 545 points from the day's low. The broader Nifty50 reclaimed 13,600-mark and settled 135 points, or 1 per cent, higher at 13,601 levels.

India VIX, the volatility index, cooled off over 6 per cent to end at 20.5 levels

IT stocks outperformed the markets for second consecutive day as stock-specific news flow supported the sentiment. At the index level, Nifty IT and the S&P BSE IT indices hit their respective fresh record highs. Among individual stocks, Tata Consultancy Services (TCS), Infosys, HCL Technologies, Tech Mahindra, Larsen & Toubro (L&T) Infotech and MphasiS from the Nifty IT index scaled their respective fresh record peak.

That apart, Nifty Realty index (up 4 per cent) and Nifty PSU Bank index (up 2 per cent) were other sectoral gainers.

In the broader market, S&P BSE MidCap and SmallCap indices outrun the frontline indices today, settling 2.44 per cent and 2.65 per cent higher, respectively.

Global markets

European shares rose on Wednesday as a report that a Brexit trade deal could be struck later in the day cheered investors amid concerns over the passage of a much-awaited US pandemic aid bill.

The pan-European STOXX 600 index traded 0.4% higher after political editor Robert Peston at Britain’s ITV said a Brexit trade deal between the United Kingdom and the European Union is possible on Wednesday after progress in talks on fishing rights.

However, London’s FTSE 100 lagged as the pound gained on the news and weighed on shares of internationally focused firms on the index.

In Asia, Japan's Nikkei ended 0.33 per cent higher while South Korea's Kospi added nearly 1 per cent. Hong Kong's Hang Seng closed 0.8 per cent higher.


LIVE UPDATES

MARKET CLOSING COMMENT :: Deepak Jasani, Head of Research, HDFC Securities

Indian equity benchmark indices continued their rebound from losses of Dec 21 and ended higher for the second straight day. The Nifty opened flat and rose gradually through the day to close at almost its intraday high. At close Nifty settled 135 points, or 1 percent, higher at 13,601.10.
 
Volumes on the NSE were below recent average. Among sectors, Realty Media IT PSU Bank, FMCG, Metals and Pharma were the main gainers.
 
World stocks inched up on Wednesday, as a last-minute intervention by President Donald Trump dampened positive sentiment over a U.S. stimulus deal, while the European markets rose on the possibility of a Brexit agreement that could be likely as early as on Wednesday.
 
In the second day post the selloff, Nifty has retraced ~75% of the latest fall. However lower volumes are a dampener. Now the next resistance level of the Nifty is at 13665-13710 while supports will come in at 13485.

MARKET CLOSING COMMENT :: Ajit Mishra, VP - Research, Religare Broking

Markets extended rebound and gained over a percent amid mixed cues. The benchmark indices started on a flat note and gradually inched higher as the session progressed. Healthy buying continued in IT and pharma majors and stocks from the media and realty space also witnessed decent recovery. Finally, the Nifty ended near day’s high at 13,600 levels; up by 1%. The broader markets outperformed and ended with strong gains in the range of 2.4-2.7%.
 
Markets are taking comfort from the global markets, which are holding strong despite the renewed COVID challenge. Meanwhile, the passage of the stimulus package in the US has relieved the participants to some extent. We suggest continuing with a cautious stance and limiting leveraged positions. The defensive pack is doing well on expected lines and likely to maintain this bias ahead as well. Traders should align their positions accordingly.

MARKET CLOSING COMMENT :: Vinod Nair, Head of Research at Geojit Financial Services

Market is continuing its rally amidst concerns over new virus strain, lockdown and weak global cues, fueled by IT, mid and small caps. The additional stimulus announced in the US did not gain much momentum in the global market as the quantum of the benefit was well-factored, but Europe and EMs are maintaining the buoyancy. In the coming days, the market will also focus on Brexit trade deals which is expected to be finalized soon and fallout in the economy due to strict lockdown"
 

MARKET CLOSING COMMENT :: S Ranganathan, Head of Research at LKP Securities

Having shrugged off the bear hug yesterday afternoon, the Bulls were in total control on Wednesday as well. The IT big boys led the rally well supported by FMCG stocks. Afternoon trade witnessed a more broad-based uptrend with investors gaining back the confidence

Market stats :: 170 stocks hit their respective 52-week highs on BSE today


Index contributors :: Infy, HUL contribute nearly half of Sensex's gain


Sectoral trends on NSE :: Realty index outruns


Sensex Heatmap :: HUL, Infy, M&M top gainers; Titan, PowerGrid end lower


CLOSING BELL :: Indices end higher for 2nd straight day

>> The benchmark S&P BSE Sensex ended the day 437 points, or 0.95 per cent, higher at 46,444 levels, surging 545 points from the day's low.

>> The broader Nifty50 reclaimed 13,600-mark and settled 144 points, or 1.07 per cent, higher at 13,610 levels.

Vodafone Idea surges 10% ahead of arbitration appeal deadline

Shares of telecom operator Vodafone Idea surged over 12 per cent to Rs 10.68 on the BSE in intr-aday trade on Wednesday as the government remained uncertain on appealing against an arbitration award relating to retrospective tax demand against the company's British promoter Vodafone Plc. READ MORE

Ramco Systems bags multi-million dollar deal; stock zooms 10%

"We are pleased to intimate you that Ramco Systems has signed a multi-million-dollar agreement with a Global Fortune 500 major to unify and transform its Payroll for 18 countries in Asia Pacific region on Ramco’s Managed Payroll Services. With this win, we have added three Fortune 500 brands as clients for Ramco Global Payroll, in Q3 2020," the company said in a filing to exchanges. READ MORE

Dish TV surges 17%, hits 52-week high on the back of heavy volumes

Till 2:20 pm, a combined 69.62 million equity shares had changed hands on the NSE and BSE. The share, meanhwile, was quoting 12.5 per cent higher at Rs 15.7 per share. In comparison, the benchmark S&P BSE Sensex was ruling nearly 350 points, or 0.75 per cent, higher at 46,365 levels. READ MORE

India VIX eases nearly 5%


IndiGo recovering from Covid-19 induced aviation 'carnage' and may rehire

“Doom and gloom is off the table and we are recovering pretty nicely, especially domestically,” Dutta said in an interview with Bloomberg Television on Wednesday. The recovery in international capacity will take longer due to quarantines and virus flareups in places such as the U.K., but the airline is hoping it will be back to normal levels by the end of 2021, according to Dutta. READ MORE


NEWS ALERT :: PC Jeweller to issue up to 7.03 cr shares to promoter on conversion of unsecured loan

>> Co to issue shares at Rs 30/sh via preferential basis


Corporate Action :: RBI okays Sandeep Batra's appointment as executive director of ICICI Bank

The Reserve Bank of India (RBI) approved the appointment of Sandeep Batra as the Executive Director of ICICI Bank.
 
The appointment comes into effect from today. Batra has been appointed as the Executive Director for a period of three years.
 
"RBI vide its letter dated December 22, 2020 has communicated its approval for the appointment of Sandeep Batra as Executive Director of the Bank," ICICI Bank said in regulatory filing.

(Source: BSE filing)
 

Wipro: Aggressive deal wins, internal changes boost investor sentiment

The deal, announced late on Tuesday, is initially for a period of five years, but can be extended by another four years. The company said that the deal would entail a minimum revenue commitment of $1 billion. Wipro has been aggressive in winning large deals since the management change, say analysts. “Aggression in deal wins has continued even in the third quarter, which is a seasonally weak quarter, with Wipro winning 5 deals including Olympus, Thoughtspot, Fortum & Verifone apart from the Metro deal in Q3. This gives us confidence about superior execution of new management at Wipro,” said analysts at Prabhudas Lilladher in a report. The rising number of large deals and a healthy order pipeline are expected to drive revenue growth in the second half of the ongoing fiscal as well as the next year. Analysts estimate the company’s revenue to grow 8 per cent in 2021-22, the highest since 2015-16. READ MORE

ALERT :: Dow Jones Futures turn positive



Ramco Systems signs multi-million-dollar agreement; stock jumps 9%

Ramco Systems in a BSE filing on Wednessday said that it has signed a multi-million dollar agreement with a Global Fortune 500 major to unify and transform its Payroll for 18 countries in Asia Pacific region on Ramco’s Managed Payroll Services.
 

Large cable manufacturers gain as consolidation gathers momentum

Channel checks by analysts show that the pandemic has left smaller and regional companies starving for cash. Their stretched working capital needs amid recovering demand have resulted in market share gains for peers with larger capacities, stronger balance sheets, and diverse portfolios. READ MORE

Stocks that hit 52-week high on BSE today

COMPANY PRICE(rs) 52 WK HIGH CHG(%)
ABB POWER PRODUC 1354.15 1400.00 8.30
ASTRAL POLY TECH 1569.00 1594.65 2.72
BERGER PAINTS 729.00 732.90 2.33
BIRLASOFT LTD 251.80 266.00 8.07
CAPRI GLOBAL 309.35 320.15 4.07
» More on 52 Week High

Outlook 2021 | RBI to face new challenges as Rupee, bonds lure overseas investors

Stocks have already attracted the biggest yearly inflows since 2012, adding to the woes for the Reserve Bank of India that has been buying up the deluge of dollars to curb the rupee’s gains. The resulting glut of cash in the financial system has caused short-term rates to crash, which, combined with high inflation, is dampening debt returns for foreign funds triggering a record outflow from bonds. READ MORE

Ruchi Soya shareholders okay appointment of Ramdev on board; stock up 4.5%

Shares of Ruchi Soya gained as much as 4.5 per cent to hit an intra-day high of Rs 690 on the BSE on Wednesday after shareholders of the company approved the appointment of Yoga guru Swami Ram Dev, his younger brother Ram Bharat and close aide Acharya Balkrishna on the company's board. At 12:55 pm, the stock was trading 4.47 per cent higher at Rs 689.9, as against a 0.68-per cent rise in the benchmark S&P BSE Sensex. READ MORE

NEWS ALERT :: L&T Construction bags contracts in the range of Rs 2,500-5,000 cr


NEWS ALERT | L&T Construction bags contracts in the range of Rs 2,500 cr-5,000 cr


Despite Covid-19, M&A and PE deal value rose by 7% to $80 billion in 2020

Deal values of private equity investments and Merger & Acquisitions, at an aggregate level, stood at little over $80 billion in 2020 as compared to $74.8 billion in 2019, up by around seven per cent. Around 25 per cent of this deal value could be attributed to sizable inbound investments in Jio Platforms. Strategic deals (mergers and acquisitions [M&A]) accounted for over 50% of the total deal value this year, while private equity (PE) activity kept pace with last year, recording investments worth $38.2 billion, according to PWC's Deals in India: Annual review and outlook for 2021 report. READ MORE

IPO Update: Anthony Waste issue subscribed nearly 6x on Day 3


Total Issue Size
66,66,342
Total Bids Received
3,80,15,762
Total Bids Received at Cut-off Price
2,60,62,346
No. of times issue is subscribed 5.70
Source: NSE

Sensex at day's high


Majesco shares trade ex-dividend, locked in 5% upper circuit

Till 11:48 am, a combined 45,800 equity shares had changed hands and there were pending buy orders for 129 million shares on the BSE and NSE, the exchange data shows.
 
Majesco has fixed Friday, December 25, 2020 as record date for the purpose of payment of interim dividend. READ MORE

NEWS ALERT :: Prakash Javadekar to hold press conference on Cabinet decisions at 4 pm today

Union Minister Prakash Javadekar

Emami units get GMP certification

Two plants of home-grown FMCG company Emami Limited have got WHO-GMP certification for its units at Vapi and Masat at Gujarat which manufactures ayurveda healthcare products under the 'Zandu' brand for a period of three years. The two units have also obtained Certificate of Pharmaceutical Products (CoPP), the company said in a statement. (Text Source: PTI)

MARKET UPDATE:: Sensex holds on to gains


D-Street's top wealth creators of 2020 show further upside

Among the star performers in the broader market, names like Dixon Technologies, Laurus Labs, and Aarti Drugs have leaped between 230 per cent and 395 per cent so far in the calendar year 2020 and stand as the top wealth creators of this year. In comparison, the benchmark S&P BSE Sensex has risen just 11.5 per cent till December 22. So, should you continue to hold these stocks in your portfolio? Here's what charts suggest. READ MORE


BUZZING STOCK | Borosil Renewables rallies 13% to hit new high

Shares of Borosil Renewables (BRL) rallied 13 per cent to hit a new high of Rs 211 on the BSE in Wednesday's intra-day trade on the back of heavy volumes on strong growth outlook. In the past eight trading days, the stock has zoomed 60 per cent, as compared to a 0.25 per cent rise in the S&P BSE Sensex. The trading volumes on the counter rose 1.5 times with a combined 2.5 million equity shares changing hands on the NSE and BSE. READ MORE


Around 62% PMS strategies lagged Nifty50 in November

Aroung 62% of the 189 PMS strategies underperformed the Nifty50 in November with average returns of 10.5 per cent, against 11.4 per cent for the benchmark.
 
Top performing strategies included Lake Water Advisors’ Lake Water (30.1%), Trivantage Capital Management’s Super Six (24.8%), and Basant Maheshwari Wealth Advisers’ Equity Fund (22%), the data from PMS Bazaar showed. READ MORE

Sector Watch | Amid losses in ONGC, IGL, Oil & Gas index only sectoral loser on BSE


Glenmark inks pact with Menarini Group to commercialise nasal spray in Europe

Glenmark Pharmaceuticals on Wednesday said its subsidiary has inked a licensing pact with Menarini Group for commercialising its nasal spray Ryaltris across 33 countries in Europe, including the Balkan region. As part of the deal, Glenmark will receive an upfront payment as well as launch and sales based milestone payments from Menarini for Ryaltris sales. (Text Source: PTI)

Rising cases of coronavirus put a question mark over metal stocks rally

A sudden and sharp fall in the equity markets on Monday not only brought fear back on the Street, but also raised a question mark over the sustainability of the rally in metal stocks. Metal producers, such as Tata Steel, Hindalco, JSW Steel, Hindustan Zinc, Steel Authority of India, and National Aluminium, saw big cut in their shares on Monday as investors fretted about the future trajectory of the demand and prices of industrial metals. READ MORE

EXPERT TAKE :: Keshav Lahoti, Associate Equity Analyst at Angel Broking on Burger King

We had given a subscribe rating to Burger King India IPO, stock made a stellar listing on the exchange by listing at 87.5% above its issue price  and is currently trading at 201% above issue price. Currently, stock is trading at 6.2x on FY20 EV/sales basis. Short term investors can book profit at the current market price. Investors with a long term horizon can keep their money invested in the stock as growth prospects of the company are promising and as operating leverage will kick in, it will improve company's margins.
 

Stock Idea by Geojit Financial: Glenmark Pharmaceuticals

Consolidated revenues for Q2FY21 rose 4.9% YoY to Rs. 2,952 cr with India business at Rs. 1,051 cr (+17.2% YoY) and API business at Rs 321cr (+19.1% YoY) contributing strongly, coupled with a good performance in Europe (+11.6% YoY) and ROW (+9.1% YoY) regions. Given current upside potential with successful new product developments and robust revenues, improving margins due to cost rationalization measures and a strong pipeline, we expect the stock to outperform in upcoming quarters. Hence, we retain our BUY rating on the stock with a revised target price of Rs. 548 based on 16x FY22E EPS.

NEWS ALERT :: Cairn Energy wins $1.2 Bn in damages from the Indian Govt

In a major setback, Indian government has lost arbitration to energy giant Cairn under the retrospective tax amendment to the law in a verdict that came late night on Tuesday. India has been asked to pay damages worth Rs 8,000 crore to the UK oil major. The verdict comes three months after India lost arbitration to Vodafone over the retrospective legislation. READ MORE

Market View :: N S Ramaswamy, Head of Commodities, Ventura Securities on gold

Over the past four months period, MCX Gold price has fallen from Rs 56,100 to Rs 47,800 levels and is currently taking support at Channel line and 200 day moving average. Also, on monthly chart, price pattern has formed like bullish flag pattern. Going forward, we expect next leg of rally would start once it breaks above Rs 53,000 levels on a weekly basis. On the upside, it will face an immediate resistance at Rs 56,200 levels and after tha, the price will march towards Rs 63,000 to Rs 65000 over next one to two years period. On the other hand, if it breaks below the channel line support can expect price will drag down towards Rs 44,200 levels first, and after that Rs 40,500 levels over next one to two years period.

Auto stocks gain traction; Ashok Leyland, TVS up 3%


Nifty Realty index best sectoral performer, rallies over 3%


Tech stocks dazzle :: TCS, Infosys, HCL Tech, Tech Mahindra hit new highs

Tata Consultancy Services (TCS), Infosys, HCL Technologies, Tech Mahindra, Larsen & Toubro (L&T) Infotech and MphasiS from the Nifty IT index hit their respective fresh record highs. Birlasoft and Persistent Systems from the non-index stocks, too, hit new highs today. READ MORE

Animal spirits unchanged: Economy stable in Nov as retail demand improves

All eight high-frequency indicators tracked by Bloomberg News were steady last month, keeping the needle on a dial measuring the so-called ‘Animal Spirits’ unchanged at 5. The level was arrived at by using the three-month weighted average to smooth out volatility in the single-month readings.
 
The pace of activity thus far was enough for the nation’s central bank to revise its forecast for the economy, which it now expects to exit a recession in the current quarter to December. READ MORE

Rupee Opening

Rupee opens lower at 73.90 per US dollar vs Tuesday's close of 73.84/$

Most active stocks by volume

COMPANY PRICE(rs) CHG(%)
VODAFONE IDEA 9.55 0.32
SUZLON ENERGY 5.14 3.84
TATA MOTORS 166.30 0.76
PUNJAB NATL.BANK 32.35 -3.29
SOUTH IND.BANK 8.74 5.17
» More on Most Active Volume

Firstsource Solutions gains 5% on acquisition of PatientMatters

Shares of Firstsource Solutions traded 5 per cent higher at Rs 79 on the BSE on Wednesday after the company announced that the firm has acquired PatientMatters, a healthcare Revenue Cycle Management (RCM) solutions provider. On Tuesday, Firstsource's stock had recovered 19 per cent from its intra-day low of Rs 66.50 on the BSE. It hit a 52-week high of Rs 81.75, on December 17, 2020. READ MORE

ONGC slips 2% on weak oil prices


Burger King advances over 3%


MARKET VIEW | V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Periods of sustained market buoyancy like this can be used to churn portfolios. Most portfolios will have some poor quality stocks. Such stocks can be sold, even at a loss, in favour of quality stocks in performing sectors, even if they are slightly expensive. A clear trend in the market is the outperformance of quality IT stocks. The market is discounting the improving prospects of the IT sector.

SBI Card trades with positive bias

>> SBI Cards and Payment Services (SBI Card) has raised Rs 450 crore by issuing bonds on a private placement basis, the company said on Tuesday.


Thirumalai Chemicals jumps around 7%


MARKET CHECK :: Indices turn positive

>> S&P BSE SEnsex trades at 46,109.45 level, up 102.76 points or 0.22%

>> Nifty quotes at 13,500.30 level, up 34 points or 0.25% 

>> S&P BSE MidCap index is at 17,384.33 levels, up 132.73 points or 0.77%

Jubilant FoodWorks gains over 3%

>> The company has introduced plant-protein Pizza. The variant would be available at all Domino's restaurants across Delhi NCR, Mumbai and Bengaluru.


AstraZeneca India rallies 4% as India may approve emergency use of the vaccine

>> India is likely to approve Oxford/AstraZeneca’s coronavirus vaccine for emergency use by next week, a Reuters report claimed. Meanwhile, the company said it has received marketing authorisation for an asthma drug from the Drugs Controller General of India (DCGI).


Majesco advances around 5% as stock turns ex-date for dividend payout


Infosys hits fresh high

>> Infosys on Tuesday said it has formed a long-term partnership with Daimler AG for a technology-driven IT infrastructure transformation. After the receipt of all regulatory approvals, Daimler AG will transform its IT operating model and infrastructure landscape across workplace services, service desk, data center, networks and SAP Basis together with Infosys, a statement said.


Wipro gains nearly 3.5% on buyback date announcement

>> Wipro on Tuesday said its up to Rs 9,500-crore share buyback programme will commence on December 29 and close on January 11, 2021. In another update, the company has inked $700 million takeover deal with Metro AG and over 1,300 staff from German company would move to the Indian firm.


NSE sectoral trends :: IT, realty indices outperforming in opening deals


Sensex Heatmap :: IT stocks extend rally


Opening Bell :: Nifty tests 13,450 at open


Opening Bell :: Sensex opens with a red tick


Commodity Heatmap :: Gold. silver open marginally lower


Top gainers and losers on S&P BSE Sensex at Pre-open


Markets at Pre-open


Markets at Pre-open


Currency Outlook :: Reliance Securities

>> The Indian Rupee could start this Wednesday on a flat to weaker note against as the US Dollar continued to find safe haven demand as the new coronavirus variant in the UK could disrupt the economic recovery.

>> The Rupee could likely open around 73.85-73.90 per dollar compared with 73.84 at close on Tuesday.

>> The Rupee's trend for the day is marginally weak. RBI is expected to purchase up to Rs 100 billion of state government bonds under open market operation.

>> Meanwhile, NDF is at 73.82 this Wednesday morning vs a close of 73.94 on Tuesday.

>> Technically, the USDINR Spot pair traded on a flat note but was unable to sustain above 74.00 levels. 73.70 holds an immediate support. Resistance is at 73.98-74.12 levels.

>> The USDINR Spot pair is expected to trade in a range of 73.70-74.12 levels.

NEWS ALERT :: Dilip Buildcon gets letter of acceptance for Rs 1,000 crore project

>> Dilip Buildcon Limited has received letter of acceptance (LOA) for a new EPC Project: Construction of Eight Lane access controlled Expressway starting near Junction with NH-12 near village Ummedpura to Major bridge over Takli river near Nayagaon Jageer village (Ch. 419.000-427.300) section of Delhi - Vadodara Green field Alignment (NH-148N) in the State of Rajasthan on EPC Mode (Pkg-15)

(Source: BSE filing)

Top stocks to watch today

Bajaj Auto: Bajaj Auto has entered into an initial pact with the Maharashtra government for setting up a production plant at Chakan at an estimated investment of Rs 650 crore.
 
Wipro: Wipro on Tuesday said its up to Rs 9,500-crore share buyback programme will commence on December 29 and close on January 11, 2021. In another update, the company has inked $700 million takeover deal with Metro AG and over 1,300 staff from German company would move to the Indian firm. READ MORE

Pullback rally may not last; stay cautious at higher levels: HDFC Sec

Nifty managed to hold above the low of 13,131, which was registered on December 21, 2020, and ended up forming a "Harami" candlestick on the daily charts on Tuesday. In case of such formations, movement of the following day depends on which direction market opens. Probability of trend remaining in the direction where markets open remains high after "Harami" candle formation. The recent recovery seems more like a dead cat bounce which could last for some more time but it would be advisable to remain cautious at higher levels. Nifty has got strong resistance at 13,600, while Bank Nifty has got strong resistance at 30,200-odd levels. However, sectors like IT and Pharma could outperform in the existing pullback. READ MORE

Bulk deals on the NSE as on Tuesday

Bulk deals on the BSE as on Tuesday

FIIs turn net buyers again on Tuesday


Rupee check

Source: Bloomberg


Oil falls on surprise build in US stocks, Trump threat to relief spending

Oil fell in early trade on Wednesday after industry data showed U.S. crude oil stocks rose last week, defying expectations for a decline, and U.S. President Donald Trump rattled markets by threatening not to sign a long-awaited COVID-19 relief bill.
 
US West Texas Intermediate (WTI) crude futures fell 46 cents, or 1%, to $46.56 a barrel, while Brent crude futures dropped 46 cents, or 0.9%, to $49.62.

(Source: Reuters)

SGX Nifty trades lower

>> At 8:20 am, the index was at 13,428 levels, down 55 points.

Wall Street :: S&P 500 ends lower as new COVID storm clouds overshadow stimulus passage

Source: Reuters


Asian shares trade mixed

Source: Reuters


Track all the latest markets developments here.

>> Global investors were cautious on Wednesday after US President Donald Trump to called the $900 billion coronavirus aid "a disgrace" and demanding that lawmakers more than triple relief payments to Americans.

>> That said, investors might get some solace from a Reuters report that said India is likely to approve Oxford/AstraZeneca’s coronavirus vaccine for emergency use by next week after its local manufacturer submitted additional data sought by authorities.

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