US Markets
The dollar slid and global equity markets rose on Tuesday on bets of increased stimulus if Joe Biden wins the U.S. presidential election against President Donald Trump, but gold prices edged higher on the potential for contested voting results.
The Dow Jones Industrial Average rose 2.06%, the S&P 500 gained 1.78% and the Nasdaq Composite added 1.85%.
Asian Markets
Asian share markets turned cautious on Wednesday, paring sharp early gains as results from the U.S. Presidential election hinted at a close race with no clear winner yet in sight.
SGX Nifty
Trends on SGX Nifty indicate a flat opening for the index in India with a 10 points loss. The Nifty futures were trading at 11,816 on the Singaporean Exchange around 07:30 hours IST.
US elections
President Donald Trump was narrowly leading Democratic rival Joe Biden in the vital battleground state of Florida on Tuesday, while other competitive swing states that will help decide the election outcome, such as Georgia and North Carolina, remained up in the air.
Oil jumps as inventory falls
U.S. oil prices jumped more than 2% on Wednesday after industry data showed crude inventories in the United States dropped sharply and as investors awaited results from the tumultuous presidential election.
West Texas Intermediate was up $1.01, or 2.7%, at $38.67 a barrel by 1138 GMT Tuesday, after gaining more than 2% in the previous session. Brent crude was yet to trade, having gained 3% on Tuesday.
SEBI streamlines framework for processing of draft schemes of arrangement filed with exchanges
The new framework will be applicable for all the schemes filed with the stock exchanges after November 17, 2020. According to Sebi, stock exchanges will have to provide the 'no-objection' letter to Sebi on the draft scheme in co-ordination with each other.
RBI exploring investment options for reserves, sources say
The Reserve Bank of India is looking at diversifying its foreign exchange reserve investments amid the fall in global interest rates caused by the COVID-19 pandemic, according to two government sources aware of the development.
As a result, the RBI is likely to increase its gold investments, as well buying dollars and exploring investing in AAA-rated corporate bonds for the first time, said the sources, who declined to be named due to the sensitivity of the issue.
India's exports dip 5.4% in October, trade deficit narrows to $8.78 billion
Chinese parent-owned Gland Pharma's IPO likely to open next week
China’s Shanghai Fosun Pharmaceutical-backed Gland Pharma is expected to launch its initial public offering next week, the people familiar with the development told Moneycontrol.
Last month, Gland Pharma received approval from capital markets regulator Sebi to launch an initial public offer which included a fresh issue of Rs 1,250 crore.
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