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Gulf Today Report
Indian shares declined on Wednesday due to a drop in gains by financial companies and weakness in global stocks.
The blue-chip NSE Nifty 50 index fell 1.2% to 14,638 and the benchmark S&P BSE Sensex dropped 1.1% to 49,7508, as of 05:10 GMT.
India recorded its highest coronavirus cases in four months on Wednesday.
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"The economic activity comes down with a surge in (virus) cases," said Siddhartha Khemka, head of retail research at Motilal Oswal Financial Services in Mumbai.
The Nifty bank index and finance index fell 1.6% and 1.4%, respectively, while the metals index dropped 2.6%.
The Nifty bank index had risen more than 2% on Tuesday after India's top court rejected pleas for extending moratorium on bank loan repayments.
Indian shares closed at a more than one-month high on Tuesday as banking and auto companies gained, while the rupee recovered after breaching 80 against the dollar.
The blue-chip NSE Nifty 50 index rose 1.7% to 14,757.50 and the benchmark S&P BSE Sensex gained 1.6% at 49,792.04, by 05:03 GMT.
The blue-chip NSE Nifty 50 index fell 0.9% to 14,713 and the benchmark S&P BSE Sensex dropped 1% to 49,631, as of 05:11 GMT.
The blue-chip NSE Nifty 50 index and the benchmark S&P BSE Sensex fell 1% to 14,405 and 48,675.66, respectively, as of 05:07 GMT. The indexes had dropped nearly 2% in the previous session.
From 6 am, buyers and investors of various nationalities competed at the Nakheel Properties sales center, located at the entrance to Palm Jumeirah, to win opportunities to own a luxury villa or a plot of empty land within the newest waterfront urban development areas in Dubai.
The GCC food market is expected to cross $1 billion by the end of 2023 with a growth rate of 6 per cent. The total value of global food market is set to reach $7 trillion by the end of the current year, this was revealed during the first day of Future Food Forum 2023 in Dubai on Wednesday.
Dubai International Financial Centre (DIFC), in collaboration with Refinitiv, a London Stock Exchange Group business and one of the world’s largest providers of financial markets data and infrastructure, on Wednesday published a report titled “Drivers of Innovation in Financial Services”, revealing a five-year
Global debt hit a record $307 trillion in the second quarter of the year despite rising interest rates curbing bank credit, with markets such as the United States and Japan driving the rise, the Institute of International Finance (IIF) said on Tuesday. The financial services trade group said in a report that global debt in