NITI Aayog: Report on employment not finalised yet
NITI Aayog: Job survey data not yet approved by govt
NITI Aayog: Plenty of evidence to show jobs being created

NITI Aayog: Report on employment not finalised yet NITI Aayog: Job survey data not yet approved by govt NITI Aayog: Plenty of evidence to show jobs being created

Sensex plummeted over 1,100 points, wiping off over Rs 5 lakh crore investor wealth, in opening session on Friday amid a massive selloff in global equities over increasing number of coronavirus&nbsp;cases outside China.&nbsp;Sensex sank 1,100.27 points to 38,645.39 while the NSE Nifty cracked 329.5 points to 11,303.8.&nbsp;According to analysts, till last week the view was that coronavirus would have minimum impact on global economy as situation in China was being contained but the increase in the number of new cases is changing the view and investors are worried about an intense slowdown.

India's eight core industries grew 2.2% in January led by expansion in the production of coal, refinery products and electricity, official data released on Friday revealed. The infrastructure sectors expanded by 1.5% in January 2019. The production of coal, refinery products and electricity grew by 8%, 1.9% and 2.8%, respectively. Sectors which recorded negative growth during the month are crude oil, natural gas, and fertiliser. The eight core sectors recorded negative growth from August 2019 to November 2019.

India's Gross Domestic Product (GDP) has risen marginally to 4.7% in the third quarter of the current financial year, according to official data released by the government on Friday. The economy grew by 5% in the first quarter and 4.5% in the second quarter.

Benchmark indices&nbsp;on Friday closed crashing over 3.5% as the coronavirus&nbsp;panic led to massive sell-off in global markets. The BSE&nbsp;Sensex&nbsp;lost more than 1,400 points to close at&nbsp;38,297. The Nifty 50 index dropped 3.56%, worst intraday fall in over four years, to end the day at&nbsp;11,219. Vedanta was the top Nifty loser, falling over 13.5%, followed by Tata&nbsp;Motors, Hindalco, Tech Mahindra&nbsp;and Tata&nbsp;Steel. 48 out of 50 stocks in Nifty 50 index were in red except IOC and Maruti. The NSE&nbsp;index has fallen 7% this week, worst one-week performance in over a decade. Nifty Metals was the worst-performing sectoral index this week after falling over 13%.
Most European and Asian markets fell up to 4%. In overnight trade on Wall Street, the Dow Jones dropped 1,190.95 points, its largest one-day fall in history.
Brent crude prices dived 4% to trade at their lowest levels for more than a year at $50.05 per barrel. The India rupee fell over 55 paise against the US dollar to 72.11 level.

The best thing that governments can do at this point is to really fight the coronavirus epidemic and worry about stimulus later, said Raghuram&nbsp;Rajan, former RBI&nbsp;governor.&nbsp;The priority should be to convince companies and households that the virus is under control, he told Bloomberg. The spread of&nbsp;coronavirus&nbsp;is pushing the world economy toward its worst performance since the financial crisis more than a decade ago.&nbsp;The virus outbreak will force companies to rethink supply chains and overseas production facilities, Rajan&nbsp;added. Bank of America economists warned clients on Thursday that they now expect 2.8% global growth this year, the weakest since 2009.
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Benchmark indices&nbsp;continued to slump on Thursday as global markets continued to witness strong sell-off due to coronavirus&nbsp;panic. The Sensex&nbsp;closed at&nbsp;39,745.66, down 0.36% and Nifty ended the session 45 points down at&nbsp;11,633.30.
Wipro, JSW Steel, ONGC, IOC&nbsp;and Zee&nbsp;Ltd were the top five Nifty losers. On the other hand, Sun Pharma, Britannia, Titan, Grasim&nbsp;and Axis Bank were on the gaining side.
At 3:50 PM, the Indian rupee was trading almost 4 paise&nbsp;high at 71.62 against the greenback.

Beleaguered Vodafone Idea has asked the Department of Telecommunications to allow them to fix minimum tariffs for mobile data at&nbsp;₹35 per GB, around 7-8 times the current price, and for calls at 6 paise per minute along with monthly charges from April 1. According to Vodafone, this will enable them&nbsp;to pay statutory dues and make its business more sustainable. Current mobile internet prices are in the range of ₹4-5 per GB. The loss-making telco is under pressure to clear adjusted gross revenue dues of more than&nbsp;₹50,000 crores to comply with a Supreme Court order.

Deepening a weeklong rout triggered by growing anxiety that the coronavirus will wreak havoc on the global economy, worldwide markets have plummeted again. The sweeping selloff pushed the benchmark S&amp;P 500 down 4.4 per cent, which is its worst one-day drop since 2011. The Dow Jones Industrial Average tumbled nearly 1,200 points. The S&amp;P 500 has now plunged 12 per cent from the all-time high it set just a week ago. That puts the index in what market watchers call a "correction," which some analysts have said was long overdue in this bull market, the longest in history.&nbsp;Stocks are now headed for their worst week since October 2008, during the global financial crisis.&nbsp;

Union Finance Minister Nirmala Sitharaman on Thursday said that investor sentiment has not been dampened by anti-CAA protests and the recent Delhi violence. Addressing a press conference in Guwahati, she said the investors she met in her recent visit to Saudi Arabia expressed willingness to invest more in the country.
On the possible impact of coronavirus scare on the industry and the economy, the finance minister said there is none as of now.

Even before the issue opens for the much-awaited SBI&nbsp;Cards IPO,&nbsp;grey market traders forecast the stock to list at around ₹1,100 while the IPO&nbsp;price has been fixed at ₹750-755 per share, the Economic Times reported on Thursday.&nbsp;Unlisted shares of the company are commanding a 50% premium on the IPO price in the grey market.&nbsp;The premium on unlisted shares shot up by ₹100 in the grey market in just one week since the IPO price announcement. Traders say the scrip is demanding ₹370-380 premium per share, which was in the ₹270-280 range a week ago.

The Securities and Exchange Board of India (SEBI) on Wednesday allowed investors to directly access the infrastructure of recognised stock exchanges to purchase and redeem mutual fund units directly from mutual fund and asset management companies. Industry participants believe that the move will increase flows into direct plans of mutual funds and help the industry penetrate into smaller cities.

Benchmark indices, the BSE Sensex and the NSE Nifty, opened in the red on Thursday. The Sensex was at 39,726, down 133 points or 0.33% lower. The Nifty opened at 11,638, down 39 points or 0.34% lower.&nbsp;HCL&nbsp;Tech, Cipla, Grasim, TCS and Wipro were the top five Nifty losers. While, Yes Bank, NTPC, Kotak&nbsp;Bank, L&amp;T and HDFC&nbsp;were in green.&nbsp;The rupee opened flat at 71.65 against the US Dollar.
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Microsoft is the latest major tech company to warn of a disruption as China grapples with the coronavirus outbreak.&nbsp;The tech giant said because its Chinese suppliers were shutdown, manufacturing operations have been affected. Microsoft said that it would miss the third quarter guidance it set out earlier this year for its personal computing segment, which includes money it makes from licensing Windows and selling Surface devices.&nbsp;The Microsoft announcement comes amid a growing problem for tech firms that rely on a complex network of suppliers in China for real-time deliveries of crucial parts.

India on Wednesday decided to lift the nearly six-month-old ban on export of onions in a bid to protect the interests of farmers, as prices are likely to fall sharply, due to bumper rabi crop. Wholesale prices of onions have more than halved in the last five weeks, according to data compiled by a government agency. India is the world's biggest onion exporter.

Finance Minister Nirmala Sitharaman on Wednesday pulled up public-sector banks for poor branch level connections with customers, which she said is affecting the credit push.&nbsp;Customers expect personal touch from bank branch staff, the FM said, adding banks should work at branch-level keeping with the 'letter and spirit' of banking, directly connecting with customers. The Finance Minister added that many bank branch staff do not have any information on government schemes.
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India&rsquo;s retail market is estimated to reach $1.1-1.3 trillion by 2025, from $0.7 trillion in 2019, growing at a compound annual growth rate or CAGR&nbsp;of 9-11%, driven by&nbsp;factors such as urbanisation, income growth and rise in nuclear families. According to a new report by Boston Consulting Group, India's consumption is likely to outperform that of developed countries like the US and UK that will only grow at a CAGR of 3.6% and 4.5%, respectively.
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The number of billionaires in the world has risen by 346 in a year to 2,816 despite a slowdown in the global economy, according to the Hurun Global Rich List 2020. A boom in tech valuations and strong stock markets across the US, India and China propelled the billionaires to record heights, the report mentioned. The US had a record number of 626 billionaires, China added 182 new faces to 799 billionaires and India rose to the third position in the list with 138 billionaires.
Amazon founder Jeff Bezos retains the top spot in the list with $140 bn, down $7 bn, mainly due to the world&rsquo;s largest divorce settlement.&nbsp;Mukesh Ambani&nbsp;of&nbsp;Reliance Industries&nbsp;maintained his spot in the top 10, for the second time after a 24% surge in his wealth. The only Asian in the top 10, Ambani&rsquo;s wealth increased to $67 billion, mainly on the back of a good performance in his telecom business.

Japanese markets slid on Thursday for the third day in a row amid growing fears over the spread of the coronavirus. Japan's benchmark Nikkei 225 was down 1.79% to 22,025.05 and dipping below 22,000 in the morning. Taiwanese markets also plunged after opening on Thursday, amid rising fears of the new virus spreading across Asia. The main stock index dropped 59.70 points, or 0.51%, to 11373.92.

India's annual GDP growth likely rose to 4.7% in the December quarter of 2019 from 4.5% in the previous quarter, when the growth rate appears to have bottomed out, a Reuters poll found.&nbsp;A modest recovery in the agriculture sector, coupled with a normalisation in weather conditions, amid elevated government spending likely pushed growth higher, the report&nbsp;said.&nbsp;It also said the momentum could be hurt by high retail inflation, which rose to 7.59% in January, potentially constraining consumption and demand.
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Rare paintings, exquisite wrist watches and luxury cars belonging to fugitive diamantaire Nirav Modi will be auctioned from Thursday. The sale of 112 assets is being done by Saffronart, on behalf of the Enforcement Directorate through a live auction. Modi's luxury car Rolls Royce Ghost is expected to fetch up to Rs 95 lakh, while a Birkin bag and French luxury goods from Hermes, are expected to fetch up to Rs 6 lakh a piece. Artworks which are up for auction include MF Husain paintings, works by V S Gaitonde, Manjit Bawa, Raja Ravi Varma and Amrita Shergill. Nirav Modi, who has allegedly defrauded state-run Punjab National Bank of over Rs 14,000 crore, is currently lodged in a British jail.

#BREAKINGNEWS: Report on employment not finalised yet, says NITI Aayog

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