Sensex, Nifty soar to record highs amid global rally

Among Sensex stocks, Maruti rose the most by 2.75 %.

Benchmark BSE Sensex rose by 393 points on Wednesday following gains in IT, energy and auto stocks amid strong global cues on hopes of fresh stimulus measures by the incoming U.S. administration.

The 30-share Sensex advanced by 393.83 or 0.80 % to close at its fresh record of 49,792.12.

The broader NSE Nifty jumped 123.55 points or 0.85 % to settle at a lifetime high of 14,644.70.

World stocks advanced on Wednesday after U.S. Treasury Secretary nominee Janet Yellen called for a hefty stimulus to protect the U.S. economy. President-elect Joe Biden, who will be sworn into office on Wednesday. has laid out a $ 1.9 trillion stimulus package proposal to boost the economy.

Among Sensex stocks, Maruti rose the most by 2.75 %, followed by Tech Mahindra (2.67 %), Mahindra & Mahindra (1.98 %) and Asian Paints (1.98 %).

Gains in Reliance, TCS, Infosys, HCL Tech, HDFC and ICICI Bank also helped the barometer extend its rally for a second day.

Among losers, Power Grid dropped 1.75 % and NTPC by 1.35 %.

Asian shares were mostly higher ahead of Joe Biden’s inauguration as U.S. president. Australia’s S&P/ASX 200 rose 0.4 % and South Korea’s Kospi by 0.6 % while Hong Kong’s Hang Seng added 0.7 %.

Japanese market however dropped 0.4 % due to fresh COVID-19 concerns.

Pets At Home Group Plc Q3 Group LFL Revenue Up 17.6% – Quick Facts

Pets at Home Group Plc (PETS.L) issued a trading update covering the 12 week period from 9 October to 31 December 2020. Total Group revenue growth was 18.0% to 302.0 million pounds, with like-for-like revenue growth of 17.6%. Retail revenue growth was 17.5%, with LFL revenue up 17.5%.

Pets at Home maintained its guidance on full-year outlook. The Group projects full-year underlying pre-tax profit, including the previously announced repayment of business rates relief, of at least 77 million pounds.

Total liquidity as at 31 December 2020, comprising cash balances and undrawn portion of banking facilities including the additional £100m RCF raised in May 2020, was 391.7 million pounds.

PNC Financial Services Group Inc. Reveals Rise In Q4 Bottom Line

PNC Financial Services Group Inc. (PNC) released earnings for its fourth quarter that climbed from last year.

The company’s profit came in at $1.39 billion, or $3.26 per share. This compares with $1.31 billion, or $2.97 per share, in last year’s fourth quarter.

Analysts had expected the company to earn $2.61 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 2.5% to $4.21 billion from $4.32 billion last year.

PNC Financial Services Group Inc. earnings at a glance:

-Earnings (Q4): $1.39 Bln. vs. $1.31 Bln. last year.
-EPS (Q4): $3.26 vs. $2.97 last year.
-Analysts Estimate: $2.61
-Revenue (Q4): $4.21 Bln vs. $4.32 Bln last year.

Russia May Be First to Register CanSino Vaccine Outside of China

CanSino Biologics Inc.’s Russian partner expects local authorities to register the Chinese company’s Covid-19 vaccine soon, potentially marking the first approval for use of the inoculation outside of China.

“All registration procedures have been completed, we expect to get the registration certificate in days,” Nikolay Dodonov, head of Petrovax Pharm’s medical department, said in a phone interview.

The CanSino vaccine is currently undergoing Phase 3 trials and was granted emergency approval in China, where it has only been used to inoculate members of the military to date.

Russia is among the first countries to offer universal access to Covid-19 vaccines, with President Vladimir Putin this week ordering authorities to let anyone who wants sign up for an inoculation. It currently has two domestic vaccines registered for use.

Petrovax, owned by the country’s richest man, Vladimir Potanin, got permission for a local Phase 3 trial of the CanSino vaccine in August and applied to register it in November, according to Dodonov.

Petrovax completed injections of 500 volunteers in its local trial in November and has analyzed the results of 200 so far, Dodonov said. Of those assessed, 149 received the inoculation and had antibody levels four times higher than the minimum threshold for immunity, he said.

Petrovax, which is also helping conduct CanSino’s international trial in Russia, plans to complete its study by May.

Boston Scientific Gets FDA Approval For Vercise Genus DBS System – Quick Facts

Boston Scientific Corp. (BSX) announced Friday that it has received U.S. Food and Drug Administration (FDA) approval of its fourth-generation Vercise Genus Deep Brain Stimulation (DBS) System.

The DBS System is indicated for use in the bilateral stimulation of the subthalamic nucleus (STN) as an adjunctive therapy in reducing some of the symptoms of moderate to advanced levodopa-responsive PD that are not adequately controlled with medication.

The portfolio, approved for conditional use in a magnetic resonance imaging (MRI) environment, consists of a family of Bluetooth-enabled, rechargeable and non-rechargeable, implantable pulse generators (IPGs) that power Cartesia Directional Leads, designed to provide optimal symptom relief.

DBS devices, specifically the Vercise Genus System, can treat the symptoms of PD by delivering targeted electrical stimulation via surgically-implanted leads in the brain connected to an IPG.

More than 10 million people worldwide are living with Parkinson’s disease (PD) – a progressive, neurodegenerative disorder, which causes stiffness, slowness and tremors due to a decrease of dopamine in the brain.

The company commenced the European launch of the Vercise Genus System in September 2020 and expects to begin a controlled U.S. launch in the coming months.