The auction, conducted on Friday, saw a cutoff yield of 5.49%, just below the RBI’s current policy repo rate of 5.5%. The central bank had originally planned to absorb ₹1 trillion.

This move comes as the RBI seeks to curb excess liquidity that has pushed overnight money market rates below the policy rate for several months. Since January, the RBI has injected over ₹9.5 trillion into the banking system, contributing to a persistent liquidity surplus.

“Liquidity will still remain in surplus even after this operation,” said Ritesh Bhusari, Joint General Manager for Treasury at South Indian Bank. “The RBI is likely to maintain liquidity at around 1.5% to 2% of net deposits. If it exceeds that range, further operations could follow.”

Following the announcement, short-term borrowing costs ticked upward. The yield on the 7.02% 2027 bond rose one basis point to 5.80%, while the benchmark 10-year bond yield increased similarly to 6.29%.

According to Bloomberg Economics’ Liquidity Index, the banking system had a liquidity surplus of approximately ₹2.5 trillion as of June 26.

The RBI’s latest action signals a calibrated tightening approach to ensure money market rates better reflect its monetary policy stance, without disrupting the broader liquidity framework.

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As of 6:00 AM GMT on Tuesday (June 24), Brent crude dropped by 3.37% to $69.07 per barrel, while West Texas Intermediate (WTI) fell by 3.35% to $66.09 per barrel.

Analysts attributed the fall to easing fears over potential disruptions to oil exports through the Strait of Hormuz — a key transit route for global crude supply.

Expert Reactions

Tony Sycamore, market analyst at IG, said the ceasefire effectively removed the geopolitical risk premium that had been priced into oil.

“If the ceasefire is implemented as stated, investors may expect the oil market to return to normal,” said Priyanka Sachdeva, senior market analyst at Phillip Nova.

Chris Weston, Head of Research at Pepperstone, told Reuters, “With tensions easing, the market has repriced risk, and Trump played a key role in securing a peaceful agreement.”

Industry Observes Cautiously

According to Rystad Energy, Iran’s limited response and avoidance of targeting the Strait of Hormuz indicate a willingness to de-escalate, providing some relief to global markets.

A report from AInvest noted that if the ceasefire proves credible, it is likely to trigger an unwinding of the geopolitical premiums embedded in oil futures.

What Lies Ahead?

Market participants will now watch closely to see whether the ceasefire holds and whether Iran avoids threatening key oil routes, particularly the Strait of Hormuz.

If no further escalation occurs, analysts expect oil prices to stabilize near pre-conflict levels. However, any renewed tensions could push prices back into upward volatility.

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The Dubai-India Business Forum, held in Mumbai on Tuesday, gathered 200 industry leaders, including about 40 who flew in from Dubai. R Mukundan, Vice President of the Confederation of Indian Industry (CII), livened up the discussions by highlighting the crucial importance of the twin cities in global business.

“The power of India and the power of the UAE, and Dubai and Bombay [the old name for Mumbai], is so strong that an American colleague came here, landed at my office, and said: ‘Now I realise, if you are not in Dubai or Mumbai, it’s goodbye.’ So, that tells you the huge power of what these two countries, in combination, can do,” Mukundan said, to cheers and applause from the audience at the forum organised on the sidelines of the visit of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of the Executive Council of Dubai, to India.

Mukundan pointed out that the cultural similarities between India and the UAE, coupled with their shared ambition to act swiftly while building and valuing deep personal relationships, are the driving forces behind this dynamic synergy.

“India offers immense potential, as well as all the strengths Dubai has.”
Mukundan noted that with India pivoting toward digitalisation and sustainability, Dubai’s experience, especially in areas like fintech, creates fertile ground for mutual growth.

“Dubai is the way the entire world wants to be in the future,” he said, earning another round of applause.

Robust strategy
Mohammad Ali Rashid Lootah, President and CEO of Dubai Chambers, said that Dubai is an ideal platform for startups, with events like Expand North Star attracting the largest number of startups from India.

“We had more than 300 startups coming from India. This has never happened, even with Silicon Valley or other places. Now, India is considered the third-largest producer of unicorns. This shows the very robust strategy India has in place.”

Lootah highlighted how Dubai has transformed itself into a business hub, not only for the Middle East but for Africa as well.

Tip of the iceberg
Adeeb Ahamed, Chair of the Federation of Indian Chambers of Commerce and Industry’s (FICCI) Middle East Council, highlighted the deep cultural and business ties between the two countries.

“A large part of the fabric of Indian and UAE businesses, especially in Dubai, shares the same pattern – mostly family-owned, family-run businesses,” he said, explaining the shared values that underpin the thriving economies. The UAE is increasingly becoming a springboard for Indian companies to tap into international investments, while UAE-based companies are keen to expand into India’s diverse markets.

“I think we are only touching the tip of the iceberg. There is a lot more interaction necessary to involve more first-generation and second-generation companies, to understand each other’s strengths and how we could invite more FDI into India and leverage those investments to make the UAE a knowledge-led hub of the future as well,” Ahamed added.
Meanwhile, Anant Singhania, past President and current Managing Committee Member of the IMC Chamber of Commerce and Industry, underscored the role of innovation in the relationship. Dubai’s vision, such as building Ski Dubai in the middle of a desert, and India’s vast pool of skilled professionals and robust systems, he noted, create a complementary synergy, and could be the key to a progressive future.

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The Adani family and Emaar are discussing the structure of a transaction, which could include an unlisted Adani unit infusing about $400 million in equity, the people said, asking not to be identified because the information is private.

An agreement could be reached soon as April, but there’s no guarantee of a deal as talks are ongoing, the people said. Representatives for Adani Group and Emaar didn’t respond to requests for comment.

Emaar said in January it was in discussions with some groups in India, including Adani, about a potential sale of a stake in Emaar India Ltd.

Portfolio boost
An acquisition of the Emaar unit would enlarge Adani’s real estate portfolio in India, which covers 24 million square feet of property and another 61 million under development, according to its website.

The Adani family’s real estate unit emerged as the top bidder to redevelop one of the largest housing projects in Mumbai at an estimated 360 billion rupees, Bloomberg News reported this month.

Adani is also in redeveloping Mumbai’s Dharavi slum, one of the biggest in the world and the backdrop to Hollywood movie Slumdog Millionaire.

Emaar India is developing residential and commercial projects in places including New Delhi, Punjab, Uttar Pradesh, Madhya Pradesh and Rajasthan.

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This agreement is ‘subject to SpaceX receiving its own authorizations to sell Starlink in India’, Jio Platforms said in a statement Wednesday. This also enables Jio and SpaceX to explore how Starlink can boost Jio’s offerings and how Jio can complement SpaceX’s direct offerings to consumers and businesses.

Jio will make Starlink equipment available through its retail outlets and online storefronts, it said.

Bharti had announced a similar collaboration late on Tuesday in clear signs that India’s mobile telephony landscape was set to be recast. Back-to-back pacts by Ambani’s and Mittal’s firms show a volte-face by India’s incumbent wireless carriers, which were initially opposed to Starlink getting airwaves at a price lower than what they had paid via auctions in the past.

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The steep losses in the Adani group’s key firm was matched by heavy selling in its other key businesses, with Adani Power losing 11 per cent and Adani Energy Solutions tanking 20 per cent.

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IMAGE FOR REPRESENTATIONAL PURPOSE ONLY

MUMBAI:

A storm off India’s west coast has strengthened to become a powerful cyclone and could hit India’s western state of Gujarat and southern parts of Pakistan on Thursday, India’s Met said. The cyclone, named Biparjoy, is expected to make landfall on Thursday afternoon between Mandvi in Gujarat and Karachi in Pakistan with a maximum sustained wind speed of 125-135 km per hour, gusting up to 150 km per hour, the India Meteorological Department (IMD) said on Monday.

India’s Minister of Ports, Shipping and Waterways and Ayush, Sarbananda Sonowal on Monday chaired a high-level meeting with senior officials of the port authority to review preparedness for the upcoming Cyclone Biparjoy in the Northern Arabian Sea.During the virtual meeting, Mr. Sonowal directed the senior officers to take every possible measure to ensure that people living in vulnerable locations are safe, the Ministry of Ports, Shipping and Waterways said.

India’s weather office has advised fishing communities to halt operations and the evacuation of people from the coastal areas of Saurashtra and Kutch regions of Gujarat. Two of India biggest ports – Mundra and Kandla – are in the Gulf of Kutch, while the Jamnagar refinery, the world’s biggest oil refinery complex owned by Reliance Industries, is based in Saurashtra.

The Gujarat Pipavav Port Limited, in a stock exchange filing on Monday, said operations at its Pipavav Port had been suspended since late evening on Saturday due to “prevailing severe weather conditions”.

Seven teams of India’s National Disaster Response Force and 12 teams of State Disaster Response Force have been deployed in the districts likely to be affected by the storm, Gujarat Chief Minister Bhupendra Patel said in a tweet.

Nearly a dozen districts in coastal Gujarat would be affected by heavy rainfall and gusting winds, although some of the districts are sparsely populated, which would limit the damage, said a weather office official, who declined to be named.

The weather office also cautioned about uprooting power and communication poles. It said there may be major damage to “kutcha and pucca roads,” flooding of escape routes. minor disruption of railways and overhead power lines and signalling systems.

“Widespread damage to standing crops, plantations, orchards, falling of green coconuts and tearing of palm fronds. Blowing down bushy trees like mango. Small boats and country crafts may get detached from moorings,” it said and added that visibility might be severely affected due to salt spray.

Biparjoy delayed the onset of the annual monsoon over Kerala, but now conditions are favourable for the progress of much-needed rains in some more parts of Maharashtra, Karnataka, Andhra Pradesh and Tamil Nadu states, the weather office said.

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NEW DELHI: The Enforcement Directorate (ED) has provisionally attached assets worth Rs 11.15 crore of three people, including Shiv Sena leader Sanjay Raut’s wife Varsha Raut, under the Prevention of Money Laundering Act (PMLA) in a case relating to irregularities in the redevelopment of the Patra Chawl project in Mumbai by a subsidiary of Housing Development and Infrastructure Ltd (HDIL).

The other individuals whose assets have been provisionally attached are businessman Pravin Raut and Swapna Patkar, wife of Sujit Patkar who is a close associate of Sanjay Raut.

In a statement, the ED said, “The attached assets are in form of lands held by Pravin M Raut, former director of Guru Ashish Construction Pvt Ltd, Mumbai at Palghar, a flat at Dadar of Varsha Raut and plots at Kihim beach at Alibaug jointly held by Varsha Raut wife of Shri Sanjay Raut and Swapna Patkar, wife of Shri Sujit Patkar.”

The central agency had arrested Pravin Raut on February 4 under the PMLA. It had found that Pravin received Rs 100 crore from HDIL and “diverted” it to various accounts of “his close associates, family member, his business entities” including the family of Sanjay Raut.

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After the questioning, Priyanka Khimani, Anurag Kashyap’s lawyer issued a statement and stated that the complaint lodged by Payal Ghosh was an outright lie.

“Mr. Kashyap is confident that the falsity of the complaint has been exposed, not only by the evidence presented by Mr. Kashyap, but also the ever-shifting version of events put forth by Ms. Ghosh in the media. Mr. Kashyap is apprehensive that now that the falsity of her allegations in the FIR have been established, she will alter her version of events in the investigative process as well,” said Khimani in the statement.

The statement also added that Anurag Kashyap is seriously considering taking legal actions against Payal Ghosh, as she tried to misuse the criminal justice system in India.

“Mr. Kashyap intends to vigorously pursue the legal remedies available to him. Mr. Kashyap vehemently denies any such incident, as has been alleged, and has sought for severe action against Ms. Ghosh for misusing the criminal justice system and for hijacking the Me Too Movement for her ulterior motives. Mr. Kashyap is confident that justice will prevail,” added the statement.

Even though netizens are talking in favor of Payal Ghosh, the entire film fraternity has lined up behind Kashyap. Many celebrities have openly come forward and have made it clear that Kashyap is such a person who is known for his respect towards womanhood.

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And now, Kangana has shared some images of her demolished building and claimed BMC has turned her office to a graveyard. The Bollywood starlet also claimed that BMC has raped her dreams, self-esteem, and future by demolishing her building.

यें बलात्कार है, मेरे सपनों का, मेरे हौसलों का, मेरे आत्मसम्मान का और मेरे भविष्य का @INCIndia #NationlUnemploymentDay pic.twitter.com/DHl02Ec0eD

— Kangana Ranaut (@KanganaTeam) September 17, 2020

Kangana has been the target of Shiv Sena, since the day she openly attacked the Mumbai Police, and claimed that the financial capital of Indian is an unsafe place to live. Soon, top Shiv Sena leaders including Sanjay Raut MP started threatening her and asked to stop visiting Mumbai if the city is an unsafe place.

Following the comments made by Raut, Y-category security was provided to Kangana, and she arrived in Mumbai amid high security. As BMC was busy demolishing Kangana’s office, she procured a stay order on the demolition of her office on the same day.

Last Sunday, Kangana Ranaut met Maharashtra governor Bhagat Singh Koshyari and conveyed her grievances regarding the ongoing events.

“I am honored that Governor Koshyari met me. I talked about how I have been treated in Mumbai which has given me so much. I hope I get justice,” said Kangana.

In the meantime, she also attacked Sonia Gandhi for maintaining culpable silence in all these issues. Kangana claimed that history will judge Sonia’s silence, and made it clear that she will get justice one day or the other.

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The number of people who have died of the disease now stands at 82,066 with a case fatality rate of 1.63 per cent.

More than 39 lakh people stand cured with a recovery rate of 78.52 per cent. Almost 83,000 patients were discharged in the last 24 hours, bringing the total recoveries closer to the number of new cases. Only 20 per cent, or 9,95,933 cases, are active.

Maharashtra continues to be the worst affected State by the pandemic with a tally of 10.7 lakh cases as it continued to report more than 17,000 cases a day.

Close to half (48.8 per cent) of the active cases are concentrated in three states — Maharashtra, Karnataka and Andhra Pradesh. Uttar Pradesh, Tamil Nadu, Chhattisgarh, Odisha, Kerala and Telangana contribute close to a quarter (24.4 per cent) of the active cases, the ministry said.

The health ministry stressed that more than 70 per cent of the deaths occurred due to comorbidities.

Karnataka reported more than 8,200 new cases, most of them from its capital. Bengaluru now has more Covid cases than Mumbai, surpassed only by Delhi and Pune.

Delhi’s COVID-19 tally crossed to over 2.25 lakh after 4,263 fresh cases were reported on September 15. Thirty-six fatalities pushed the death count to 4,806, according to the latest bulletin issued by the Delhi health department.

According to a study (Johns Hopkins University data), India is the second worst-hit nation in terms of COVID-19 cases after the United States. It is in the third spot in fatalities after the US and Brazil.

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While the Government and Industry were trying their best to make available a safe and effective vaccine for COVID-19 at the earliest, it was difficult to comment on the exact timelines in view of various complex pathways involved in vaccine development, according to Minister of State (Health and Family Welfare) Ashwini Kumar Choubey.

In a written reply in the Rajya Sabha on September 15, Mr. Choubey said, that the Government has constituted a high-level National Expert Group on vaccine administration for COVID-19 which is chaired by Member, Niti Aayog and co-chaired by Secretary, Ministry of Health & Family Welfare. Other representatives are: Secretary, Ministry of External Affairs, Secretary, Department of Biotechnology, Secretary, Department of Health Research, Director General of Health Services, Ministry of Health & Family Welfare, Director, All India Institute of Medical Sciences, Head ECD, Indian Council of Medical Research, Director Jawaharlal Institute of Postgraduate Medical Education and Research (Member NTAGI) and Representatives from States & D/o Expenditure. The committee is addressing issues related to vaccine delivery, selection of suitable vaccines, procurement, prioritization of groups, logistics: Cold chain requirements, finance and National/International equity.

Central Drugs Standard Control Organisation (CDSCO) has granted test license permission for manufacture of COVID-19 Vaccine for pre-clinical test, examination and analysis to the following manufacturers in India.

M/s Serum Institute of India Pvt., Ltd., Pune, M/s Cadila Healthcare Ltd., Ahmadabad, M/s Bharat Biotech International Ltd., Hyderabad, Biological E Ltd., Hyderabad, M/s Reliance Life Sciences Pvt Ltd., Mumbai, M/s Aurbindo Pharma Limited, Hyderabad and M/s Gennova Biopharmaceuticals Limited, Pune are the companies involved.

The Indian Council of Medical Research (ICMR), an autonomous organisation under the Department of Health Research, has informed that the following companies are conducting clinical trials for COVID-19 vaccines in India:

(i) An inactivated whole virion candidate vaccine (BBV152) for SARS-CoV-2 has been developed by Bharat Biotech International Ltd (BBIL) using the virus isolate (NIV-2020-770) provided by ICMR-National Institute of Virology (NIV), Pune. Characterization of the vaccine candidate has been undertaken at ICMR-NIV followed by safety and tolerability studies in small animals like rats, mice and rabbits. Status of clinical trials is as follows:

Phase I clinical trials along with parallel studies in large animals have been completed. The trial has revealed excellent safety of the candidate vaccine. Immunogenicity testing is in progress.

Phase II clinical trials were ongoing.

(ii) A DNA vaccine (ZyCov-D) has been developed by Cadila Healthcare Ltd. Pre- clincial toxicity studies were conducted in small animals: mice, rats, rabbits and guinea pigs. The vaccine has been found to be safe and immunogenic. Cadila has partnered with ICMR for conduct of parallel pre-clinical studies in large animals. Status of clinical trials is as follows:

Phase I clinical trials have been completed. The trial has revealed excellent safety of the candidate vaccine. Immunogenicity testing is in progress.

Phase II clinical trials were ongoing.

(iii) Serum Institute of India (SII) and ICMR have partnered for clinical development of two global vaccine candidates:

ChAdOx1-S, which is a non- replicating viral vector vaccine developed by University of Oxford/AstraZeneca. This vaccine is undergoing phase III clinical trials in Brazil. Phase II/III bridging studies have been initiated by ICMR at 14 clinical trial sites. ICMR-National Institute for Research in Tuberculosis (NIRT), Chennai is the lead institution.

ICMR and SII have also partnered for clinical development of a glycoprotein subunit nanoparticle adjuvanted vaccine developed by Novavax from USA. The trial will be initiated in second half of October after the vaccine is manufactured by SII. The trial is led by ICMR-National AIDS Research Institute (NARI), Pune.

As per details provided by Department of Biotechnology (DBT)/Department of Science and Technology(DST), more than 30 vaccine candidates have been supported which are in different stages of development.

The ICMR has allocated Rs.25.00 crore for various studies and other research activities pertaining to vaccine development.

The Science and Engineering Research Board (SERB), a statutory body under the Department of Science and Technology, has supported three projects under COVID-19 on vaccine research under Intensified Research in High Priority Areas (IRHPA) The sanctioned expenditure is Rs.22,27,579/- and the committed expenditure is Rs.3,20,78,161/-.

The Department of Biotechnology is also supporting eight proposals by Industry and academia for candidate vaccine development and associated research resources at a total cost of Rs. 75 crore, the statement said.

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Maharashtra Chief Minister Uddhav Thackeray was trying to blackout the Republic channel in the State by threatening cable operators, Arnab Goswami has alleged. He also claimed that Thackeray is not releasing the channel’s jailed reporter Anuj.

“Uddhav Thackeray, release my journalists. You have broken the law and we will not allow this illegality. You didn’t write the Constitution and you have no right to turn it upside down. Your party has sent letters to cable operators to illegally blackout Republic. You are allowing and approving a series of illegalities. Release my journalists immediately and perform your constitutional duty by arresting your party leaders who have been caught red-handed sending threats to cable operators,” said Arnab, in a statement issued by Republic channel.

Soon after Arnab’s allegations, Kangana Ranaut also joined the party and condemned Thackeray and the actions of his government. Kangana claimed that the Maharashtra government was torturing critics. She also questioned the Shiv Sena government’s intention behind trying to shut down the Republic channel.

Following the death of Bollywood star Sushant Singh Rajput, both Kangana Ranaut and Arnab Goswami had several times questioned the genuineness of the investigation Mumbai police have carried out. Soon, Shiv Sena leaders, including Sanjay Raut MP, urged Kangana to never visit Mumbai if she feels unsafe in the city.

As Kangana’s war with the Maharashtra government reached new heights, the BMC started demolishing the actress’ Manikarnika Films building. Kangana soon obtained a court order to stop the demolition and claimed that she has built the building legally.

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Following her open war against the Maharashtra government and Shiv Sena, a complaint has been filed against Kangana Ranaut for allegedly making statements against Chief Minister Uddhav Thackeray on social media.

According to reports, a case was registered against Kangana at Vikhroli police station in Mumbai. The complaint alleged that the Bollywood starlet has defamed Uddhav Thackeray by stating that he has links with the mafia in the film industry. The complaint has been filed by Nitin Mane, an advocate.

On September 9, Kangana had posted a video on her Twitter page, and in the clip, she alleged that Thackeray has a direct role in ordering the BMC to demolish her Manikarnika Films building. The complaint lodged against Kangana claimed that the chief minister has no direct role in the demolition.

In the meantime, retired Assistant Commissioner of Police Pradeep Lonandka has sent a legal notice to Kangana demanding an apology for her remarks against Mumbai and the police department in the city. The retired police officer also asked the actress to delete the derogatory comments and videos she has posted on her social media pages.

According to Lonandka, allegations made by Kangana are absolutely baseless, and such remarks from an influential person will affect the morale of the entire police department in India’s financial capital.

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As threats loom over the actress, a strong Kangana has now openly challenged her critics, and have revealed that she is coming back to Mumbai on September 9, 2020. The actress also said that she will soon share the timing of her arrival so that people who want to stop her can try their best.

“I see many people are threatening me to not come back to Mumbai so I have now decided to travel to Mumbai this coming week on 9th September, I will post the time when I land at the Mumbai airport, kisi ke baap mein himmat hai toh rok le,” wrote Kangana in her recent tweet.

Kangana Ranaut is currently staying in Himachal Pradesh with her family. Due to the coronavirus outbreak, the actress has been staying inside her home, and this is for the first time since the pandemic outbreak that the starlet is coming back to Mumbai.

In the meantime, Sanjay Raut has made it clear that strict actions will be taken against people who intentionally try to demean Mumbai and Maharashtra.

“We don’t give threats to anyone, we believe in taking action. Those who are making comparisons with Pakistan Occupied Kashmir (PoK), don’t know anything about Pok. We will not tolerate anything demeaning about Mumbai and Maharashtra,” Raut told Zee News.

The MP also added that Mumbai Police is very capable, and several police officers have sacrificed their lives at the time of the 26/11 terror attacks, 1992 bomb blasts, and even during the deadly coronavirus outbreak.

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The authorities called off the rescue operation around 11.30 am on Wednesday as all the 17 missing persons- 15 deceased and two rescued, were traced, the official said.

At least nine others, who suffered injuries in the incident, are undergoing treatment in a hospital.

The five-storey building – Tareq Garden- in Mahad town, around 170 kms from Mumbai, collapsed on August 24 evening.

The teams comprising the personnel of the National Disaster Response Force (NDRF) and police, local disaster management team, trekkers and local residents, were engaged in the rescue operation.

On August 25, a four-year-old boy was pulled out alive from under the rubble 19 hours after the incident.

However, it was not all joy as less than half an hour later, the lifeless body of his 30-year-old mother was also recovered from the debris. The body of NaushinNadim Bangi, the child’s mother, was recovered by NDRF personnel 20 minutes later.

As the operation was underway, the rescue team spotted the child under the debris, after which it started clearing the structure with help of gas cutter and other machines.

A 60-year- old woman was also rescued 26 hours after the building collapse.

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Calling the measure ‘unlockdown’, Thackeray revealed that the primary focus of the government in the coming days will be strengthening the health infrastructure of Mumbai.

“I am not using the word lockdown. I call it ‘unlockdown’. Existing restrictions will be relaxed further. We are in the process of strengthening the health infrastructure in the Mumbai metropolitan region within a week. Our revised guidelines will be based on those prescribed by the ” said Thackeray.

However, Thackeray revealed that the central government will not grant permission to open restaurants, gymnasiums, and swimming pools as social distancing measures will be violated. He added that the decision to reopen the suburban train network will be decided by the railway board.

Thackeray also made it clear that more stringent measures will be adopted in the rural areas of the state to combat the sudden surge in coronavirus cases.

As per the latest statistics, there are more than 1.2 million coronavirus positive cases in India, and the death toll has crossed 30,000. Current trends indicate that the number of positive cases in the country will witness a dramatic rise in the coming days, as several states are easing lockdown measures to reopen economies.

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In view of the COVID-19 pandemic, Mumbai police on Wednesday imposed section 144 prohibiting movement of one or more persons in public places or gathering of any sort anywhere, including religious places, subject to certain conditions. The Prohibitory order issued by Mumbai’s Deputy Police Commissioner Pranaya Ashok will remain in force till 15 July.

Further, the movement has been prohibited movement between 9.00 pm and 5.00 am, except for medical emergencies, emergency services, government agencies and their officials on duty, and establishments providing essential services. Any person violating this order will be punished under section 188 of the Indian Penal Code.

At present, there are 28924 active COVID-19 cases and 44,170 patients recovered from the virus. The city has reported 57 deaths for the day.

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The past week saw the stock market moving within a limit area. Even though the Nifty rose 10,553 points booking of profits was witnessed.
Banking stocks saw strong volatility but at the same time auto and IT sectors aided the market. More than a fight between the bulls and the bears, we can see availability of funds coming face to face with the drawbacks in the economy. As the bulls take the market forward, we see booking of profits in view of better global indications.
These days, the Indian market is following the lead of the US market. The unhindered rise in the number of COVID-19 patients and deaths in the United States in recent days led to the volatility in the markets.
The indications that there would be a heavy monsoon this year is aiding the domestic market. The heavy monsoon would lead to better output from the agriculture sector and the growth of the rural economy. The rural economy has been showing good signs of a revival. The demand from the rural sector has improved. At the same time, there is no respite from the fear of worsening COVID-19 situation globally and the number of COIVD patients rising domestically are negative factors.
There is a lot of pressure on the Nifty at 10,550 points. Even though the bulls have taken the market to 10,550 points, global pressure for selling it could not break this barrier
Nifty would be moving in the range of 9,500 and 10,550 in the coming week. It would be healthy for the economy to hold on to this range than a rapid rise owing to liquidity.
As the liquidity is strong it would take some more time for the market to take into account the basic factors. If the Nifty rises depending on the availability of funds, a negative news would lead to a crash in the market.

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