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Sarah Huckabee Sanders Joins Fox News And Everyone Is Making The Same Joke

08/23/2019

Sensex, Nifty decline on fading hopes of stimulus package

FMCG, auto, banking and financial sector stocks came under heavy selling pressure after government officials virtually ruled out a stimulus package to arrest a slowdown and boost growth.

Market benchmark BSE Sensex declined by 345 points in early session on Friday due to heavy losses in financial, FMCG and auto stocks amid fading hopes of a stimulus package for slowdown-hit sectors.

The 30-share index dropped 345.55 points or 0.95 % to 36,127.38 in early session with 19 of its constituents trading in the red.

The broader NSE Nifty dropped 94.30 points or 0.88 per cent to 10,647.05 points, dragged down by losses in ICICI Bank, Cipla and auto major Maruti.

FMCG, auto, banking and financial sector stocks came under heavy selling pressure after government officials virtually ruled out a stimulus package to arrest a slowdown and boost growth.

Among Sensex stocks, ICICI fell the most by 2.62 %. HDFC Bank, Kotak Bank, Axis Bank, SBI and IndusInd Bank also dropped up to 1.7 %.

Maruti lost 2.27 %, ITC 1.83 %, Bajaj Finance 2.17 % and Reliance Industries by 1.40 %.

The rupee breached the 72 mark in early trade which also hit the market sentiment.

Meanwhile, Asian markets were trading firm on a cautious note ahead of US Fed Chair Jerome Powell key address which is expected to throw a light of the central bank’s plan on the rate cut.

Rupee falls below 72 mark against US dollar on fund outflows

The rupee fell by 22 paise to trade at a nine-month low of 72.03 against the US dollar in early session.

The rupee on Friday declined below the 72 mark against the US currency in opening session due to continued foreign fund outflows and losses in the equity markets.

The rupee fell by 22 paise to trade at a nine-month low of 72.03 against the US dollar in early session.

The rupee traded in a range of 71.93 to 72.05 to the US dollar in the early session.

A strong dollar in the overseas markets and continued foreign fund outflows weighed on the domestic currency, according to forex traders.

The dollar index, which measures the US currency’s strength against global peers, was up 0.15 % ahead of a key address by the US Federal Reserve Chairman, who is under pressure from the Trump administration to cut rates.

Foreign investors continued their selling spree in the Indian equities amid fading hopes of any stimulus measures by the government to arrest slowdown.

FPIs withdrew around ₹ 900 crore from capital markets on a net basis on Thursday.

The rupee had closed at 71.81 to the US dollar on Thursday.

New York’s George Washington Bridge reopened after suspicious-device scare

NEW YORK — Traffic has reopened on the George Washington Bridge after authorities investigated a suspicious package scare.

Officials say the suspicious device was found on the upper level of the bridge near the New Jersey side just before 9:30 p.m. Thursday, causing authorities to briefly shut down traffic in both directions.

The Port Authority Police and Bergen County bomb squad were at the scene, along with the New York Police Department, which gave the all clear just after 11 p.m.

The bridge, which spans the Hudson River, is considered one of the busiest in the world.

AIA Group says profitability indicator rose 20%

AIA Group Ltd.’s (1299.HK) new-business value rose in the first half of the year, helped by higher sales in its key China and Hong Kong markets.

In a filing to Hong Kong stock exchange Friday, the Asian insurer said that for the six months ended June, its new-business value–a key measure of profitability–rose 20% on year to $2.28 billion at constant exchange rates.

AIA said its new-business value margin stood at 65.6% compared with 59.5%, while operating profit after tax climbed 12% on year to $2.90 billion.

The company declared an interim dividend of 33.30 Hong Kong cents a share, up from 29.20 Hong Kong cents a share.

Write to Saurabh Chaturvedi at [email protected]

Taiwan Lifts 2019 Growth Projection

Taiwan’s economic growth outlook for 2019 was revised up as the region is expected to withstand the adverse impact from trade protectionism and weak global growth.

Real gross domestic product is forecast to grow 2.46 percent in 2019, compared to 2.19 percent projected in May, the Directorate-General of Budget, Accounting and Statistics, or DGBAS, said Friday.

At the same time, outlook for inflation was revised down slightly to 0.67 percent from 0.71 percent estimated in May.

In 2020, the trade-reliant economy is forecast to expand 2.58 percent and inflation to rise to 0.82 percent.

According to preliminary estimate, real GDP grew 2.40 percent in the second quarter of 2019 from the previous year, which was faster than the revised 1.83 percent expansion seen in the first quarter.

On a quarter-on-quarter, seasonally-adjusted annualized basis, the economy grew 2.72 percent.

On the demand side, real private final consumption grew at a faster pace of 1.55 percent annually in the second quarter, mainly reflecting the growing sales of cars and boutiques.

Gross fixed capital formation climbed 7.51 percent, primarily due to the increase in machinery and equipments investment as well as transport equipments.

In addition, real exports of goods and services grew 4.13 percent on strong demand for information, communication and audio-video products, as well as refined petroleum products. At the same time, imports grew 3.68 percent.