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Top 15 finance stories of the day, June 29, 2020

Here’s a quick roundup of some of the most important financial updates today:

Nifty ends lower, coal India slumps 5%

Benchmark indices began the week on a bearish note, with both the Nifty and the Sensex ending the day with losses. Rising cases of Covid-19 kept global markets subdued and on the tenterhooks. The US markets had seen very weak closings on Friday, after reporting a record number of Covid-19 cases. Select states in the US continued to see a spike in the number of cases, even as investors feared a rollback of the openings in certain states. Read more

Gold prices hover near record highs on firm global rates

Gold prices in India on June 29, 2020 continue their upward journey and hover close to record high hit last week. On the MCX, August gold futures at 9:20 am traded higher by Rs. 85 or 0.18% at Rs. 48390 per 10 gm. Silver in line also traded firm with gains of 0.48% or Rs. 231 at Rs. 48596 per kg. On June 24, 2020, gold prices on the MCX hit a high of Rs. 48589 per 10gm. Read more

Rupee opens tad higher at 75.61 per US Dollar

Rupee in Monday's trade (June 29, 2020) opened marginally changed at 75.61 as compared to Friday's close of 75.64. This is despite weakness in equities and strength in the US dollar. Among its Asian peers, rupee was the second best performing currency last week. Read more

Petrol, diesel prices raised again after a day's halt

Fuel prices in India were hiked on Monday by state oil marketing companies even as international oil prices remained largely stable. On Sunday, prices were left unchanged after 21 consecutive days of upward revision. Read more

How to deal with losses in the stock market

This massive crash in the stock markets has had us all worrying. Almost every single investor is suffering a loss in the markets at these levels. Unfortunately, the truth is there is no way around it. If you invest in stocks, at some point you are likely to lose money.  Read more

Covid crisis disrupting your financial plans? Here’s how to get back on track

The ongoing Covid-19 crisis has not only adversely impacted the current financial situation for many of us, it has started disrupting our financial plans for the future as well. If we fail to make certain pragmatic readjustments in the current scenario, we may find it challenging to achieve our critical financial goals. With normal health risks and a stable income, many of us must have had detailed plans in place to meet our important financial goals in the pre-Covid times.  Read more

7 ways cybercrime is evolving amid the coronavirus pandemic

For many cybercriminals, the global coronavirus pandemic has been a golden opportunity for fraud.

And we haven’t even seen the worst of it yet. Read more

States' GSDP to contract 1%-14% in FY21; These states will be most impacted!

India Ratings and Research (Ind-Ra) expects the gross state domestic product (GSDP) of all states in India to contract in FY21. The contraction will be range in be in the range of 1.4%-14.3%. According to the agency's estimate, the states that will witness a double-digit contraction in GSDP growth in FY21 are Assam, Goa, Gujarat and Sikkim. Using the insight gained in terms of the proportion of the state economy that was dysfunctional during the lockdown, the agency has estimated the GSDP for various states. Read more

4G data at less than Rs 5 per GB: prepaid plans from Jio, Airtel and Vodafone compared

Data is a ubiquitous requirement for us all, especially with most of us working from home. Coupled with power outages in some areas and intermittent Wi-Fi down time for some operators, mobile data can be your saviour in many places, sailing you through both work and boredom when you do not have a fast or reliable Wi-Fi hotspot to access.  Read more

‘95% appliances now made in India; dependence on China for components not to go down soon’

Around 95 per cent of consumer electronics and appliances sold in India are produced locally, although dependence on China for components still ranges between 25-70 per cent which will be difficult to reduce overnight, according to industry body CEAMA. Read more

Best-selling motorcycles in India in FY 2020: Hero Splendor Plus takes top honours

Hero Splendor Plus has registered the highest sales to become the best-selling bike in India in the previous financial year (FY 2019-2020). Hero MotoCorp occupy three of the top-five spots on the list as well, with the Hero HF Deluxe and the Glamour motorcycles coming in second and fourth, respectively. Read more

Should I continue my mutual funds or move my life savings to the bank?

The ongoing Covid-19 crisis is forcing people to make some tough economic choices. In a series of three articles, we’ll look at three such choices you may have to make. In the last article, we looked at how to choose between continuing your SIP or paying your loan EMIs during the ongoing moratorium. Here’s the second tough choice: if you have to choose between continuing your mutual funds or move your life savings to the bank, what should you choose? Read more

Your view: 'Hold-ups at ports will hurt us,' says Gadkari; agree?

Amid concerns over delays in customs clearance for imported Chinese goods stuck at Indian ports, Transport Minister Nitin Gadkari has urged the finance and commerce ministries to remove roadblocks for the quick release of goods at ports. Share your comments

DGCA notice to AirAsia following allegations of safety norm violations

The aviation regulator DGCA has issued a show cause notice to a top executive of AirAsia India two weeks after one of its pilots, who runs a popular YouTube channel called Flying Beast, alleged violations of safety norms by the low-cost airline, senior officials said on Sunday. Read more

5 tips for building an emergency fund

The need for an emergency fund has never been this apparent. Unfortunately, most of us never really feel the need for it. Read more