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budget 2021: Happy about jabs, worried about jobs: India's mood ahead of Budget


Winter fog affords poor visibility. In this difficult-to-read pandemic year, it’s a problem Finance Minister Nirmala Sitharaman must contend with as she prepares to present her third budget on Monday. In a highly informal economy, where unorganised sector and millions of self-employed dominate the landscape, data is perpetually scarce and statistical clarity poor. This has only worsened in a virus-ravaged year when data gets distorted and any comparison looks inherently flawed.
In this inscrutable year, on the eve of the crucial Budget 2021, ET Magazine has tried to take stock of something pertinent, something the government should keep in mind: what do people want? ET Magazine conducted a three tier poll of 100 CEOs, 27 economists and 3,476 middle-class Indians (readers of www. economictimes.com) over a fortnight in January to better understand the year gone by, where India is today and do some crystal-gazing into the future. What do they want from this budget? How do t ....

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Indices trade with significant cuts; realty stocks extend losses


The key equity indices continued to trade with steep losses in mid-afternoon trade. Realty stocks declined for fifth consecutive session.
At 14:26 IST, the barometer index, the S&P BSE Sensex, tumbled 582.30 points or 1.23% to 46,827.63. The Nifty 50 index lost 149.10 points or 1.07% to 13,818.40.
The January 2021 F&O contracts will expire today, 28 January 2021. Global cues were weak as a rise in the volatility index (VIX) worried investors. Rising coronavirus cases and uneven distribution of vaccine rollouts also triggered selling pressure.
Fed Chairman Jerome Powell said that the U.S. economy was a long way from full recovery and still short of policy makers inflation and job goals. The central banker made it clear that the U.S. central bank was nowhere near exiting massive support for the economy during the ongoing coronavirus pandemic, as officials left their benchmark interest rate unchanged near zero. ....

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Shares trade with minor gains; Asian shares advance


The equity benchmarks continued to trade in positive territory in mid-morning trade. The Nifty retraced after hitting a record high of 14,010.15. Trading was volatile as the December 2020 F&O contracts expire today, 31 December 2020.
At 11:23 IST, the barometer index, the S&P BSE Sensex, was up 44.17 points or 0.09% to 47,790.39. The Nifty 50 index added 5.75 points or 0.04% to 13,987.70.
In the broader market, the S&P BSE Mid-Cap index gained 0.22% while the S&P BSE Small-Cap index rose 0.41%.
The market breadth was strong. On the BSE, 1649 shares rose and 1031 shares fell. A total of 155 shares were unchanged.
Foreign portfolio investors (FPIs) bought shares worth Rs 1,824.52 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 587.43 crore in the Indian equity market on 30 December, provisional data showed. ....

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Focus: Is the next commodities supercycle upon us?


The week that was:
COVID-19 cases and deaths spiked in the US and Europe, with new cases surpassing 732,500 globally, nearly a third of which occurred in the US. Despite those numbers, US equity markets rallied on the hope of further stimulus. The S&P 500 and the Dow Jones both reached record highs. Asian markets were slightly up, and European markets traded sideways amid COVID lockdowns and uncertainty over Brexit.
A panel of advisors from the US Food and Drug Administration endorsed the Moderna vaccine on Thursday, clearing the way for approval by the agency.
Oil continued its seven-week rally, climbing to pre-pandemic levels, largely based on hopes of a massive rollout of vaccines. All eyes will be on OPEC when ministers meet in early 2021 to review compliance with the historic cuts and plan for the future. ....

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