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Google is teaming up with the European Investment Fund (EIF) and two other organisations in Latin America and Asia to provide $75 million in funding to small- and medium-sized companies suffering from the impact of COVID-19.

The funds are part of an $800 million initiative announced in March last year in response to the pandemic.

Google, a unit of Alphabet, said on Wednesday that it would invest in two EIF funds, giving $15 million in loan capital to 1,000 European small businesses and $10 million in EIF’s venture capital fund backing 200 life sciences companies.

The EIF is part of the European Investment Bank group, the lending arm of the European Union.

In Latin America, Google will work with the Inter-American Development Bank to allocate $8 million to small companies.

It has also set up a $26 million loan fund with Kiva, an organisation that crowdfunds loans, to help businesses in Africa, the Middle East and Indonesia. Indian companies will get $15 million.

Google is teaming up with the European Investment Fund (EIF) and two other organisations in Latin America and Asia to provide $75 million in funding to small- and medium-sized companies suffering from the impact of COVID-19.

Google is teaming up with the European Investment Fund (EIF) and two other organisations in Latin America and Asia to provide $75 million in funding to small- and medium-sized companies suffering from the impact of COVID-19. The funds are part of an $800 million initiative announced in March last year in response to the pandemic. Google, a unit of Alphabet, said on Wednesday that it would invest in two EIF funds, giving $15 million in loan capital to 1,000 European small businesses and $10 million in EIF’s venture capital fund backing 200 life sciences companies. The EIF is part of the European Investment Bank group, the lending arm of the European Union. In Latin America, Google will work with the Inter-American Development Bank to allocate $8 million to small companies. It has also set up a $26 million loan fund with Kiva, an organisation that crowdfunds loans, to help businesses in Africa, the Middle East and Indonesia. Indian companies will get $15 million.

Google to invest $75 million in coronavirus-hit small businesses

After having reached fresh all-time highs, Sensex and Nifty retreated and closed the day’s trade in the red.&nbsp;

From its fresh record high level of 52,517, hit earlier today, the S&amp;P BSE Sensex tanked 650 points to hit a low of 51,864. The index, however, settled at 52,104 levels, down 50 points or 0.1 per cent.

The NSE's Nifty50, on the other hand, managed to hold the 15,300 level and ended at 15,313, down 1.25 points or 0.01 per cent. The index hit fresh lifetime high of 15,432 in the morning trade today.&nbsp;

Nifty Midcap 50 jumped 0.38% and the Smallcap 50 gained 0.40%. Among top gainers on BSE Sensex were Power Grid, up 6%, followed by ONGC’s 5% jump and NTPC. Axis Bank and ICICI Bank were among the drags.

(With inputs from agencies)

After having reached fresh all-time highs, Sensex and Nifty retreated and closed the day’s trade in the red. From its fresh record high level of 52,517, hit earlier today, the S&P BSE Sensex tanked 650 points to hit a low of 51,864.

After having reached fresh all-time highs, Sensex and Nifty retreated and closed the day’s trade in the red. From its fresh record high level of 52,517, hit earlier today, the S&P BSE Sensex tanked 650 points to hit a low of 51,864. The index, however, settled at 52,104 levels, down 50 points or 0.1 per cent. The NSE's Nifty50, on the other hand, managed to hold the 15,300 level and ended at 15,313, down 1.25 points or 0.01 per cent. The index hit fresh lifetime high of 15,432 in the morning trade today. Nifty Midcap 50 jumped 0.38% and the Smallcap 50 gained 0.40%. Among top gainers on BSE Sensex were Power Grid, up 6%, followed by ONGC’s 5% jump and NTPC. Axis Bank and ICICI Bank were among the drags. (With inputs from agencies)

Sensex ends flat after volatile trade, Nifty at 15,313

Cryptocurrency Bitcoin on Tuesday rose above $50,000 for the first time ever.&nbsp;

The record high stood at $50,602, and has risen by 72 per cent this year. Most of the gains were recorded after Tesla, the carmaking giant said that it had bought $1.5 billion in the cryptocurrency.

The currency is quickly gaining acceptance by investors across the board. In addition, Tesla said that it would now accept the currency as payment.

On February 8, Bitcoin hit its previous record-high above $43,000 &nbsp;after electric carmaker Tesla invested $1.5 billion in the digital currency. The cryptocurrency has been up by around 50 per cent since the start of the year.

Also read:&nbsp;<a href="http://13.235.153.162/business-economy/india-mulls-bitcoin-ban-existing-investors-to-get-transition-period-363262" hreflang="en">India mulls Bitcoin ban, existing investors to get transition period</a>

Bitcoin hit $43,725.51 around 1300 GMT on February 8, before cooling slightly to $42,352.&nbsp;

Tesla's decision came just days after CEO Elon Musk changed his Twitter bio to simply read "#bitcoin." The announcement came in a US Securities and Exchange Commission document.

Tesla said in a filing the decision was part of its broad investment policy as a company and was aimed at diversifying and maximising its returns on cash. It said it had invested an aggregate $1.5 billion in bitcoin under the changed policy and could "acquire and hold digital assets from time to time or long-term".

It is now expected that Tesla would soon begin accepting payment for its cars and other products with bitcoin in the near future.

Cryptocurrency Bitcoin on Tuesday rose above $50,000 for the first time ever. The record high stood at $50,602, and has risen by 72 per cent this year. Most of the gains were recorded after Tesla, the carmaking giant said that it had bought $1.

Cryptocurrency Bitcoin on Tuesday rose above $50,000 for the first time ever. The record high stood at $50,602, and has risen by 72 per cent this year. Most of the gains were recorded after Tesla, the carmaking giant said that it had bought $1.5 billion in the cryptocurrency. The currency is quickly gaining acceptance by investors across the board. In addition, Tesla said that it would now accept the currency as payment. On February 8, Bitcoin hit its previous record-high above $43,000 after electric carmaker Tesla invested $1.5 billion in the digital currency. The cryptocurrency has been up by around 50 per cent since the start of the year. Also read: India mulls Bitcoin ban, existing investors to get transition period Bitcoin hit $43,725.51 around 1300 GMT on February 8, before cooling slightly to $42,352. Tesla's decision came just days after CEO Elon Musk changed his Twitter bio to simply read "#bitcoin." The announcement came in a US Securities and Exchange Commission document. Tesla said in a filing the decision was part of its broad investment policy as a company and was aimed at diversifying and maximising its returns on cash. It said it had invested an aggregate $1.5 billion in bitcoin under the changed policy and could "acquire and hold digital assets from time to time or long-term". It is now expected that Tesla would soon begin accepting payment for its cars and other products with bitcoin in the near future.

Bitcoin rises above $50,000 for the first time ever

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BSE Sensex was trading above the crucial 52,000-mark for the first time ever, while the Nifty 50 crossed the psychological 15,300 level

Sensex hits 52,000-mark for the first time ever, Nifty at record highs

Google has been hit with an of 1.1 million euros ($1.3 million) fine after a probe found that Google's hotel rankings could be misleading for consumers, France's finance ministry and fraud watchdog said on Monday.&nbsp;

Google used the official source Atout France as well as input from other hotel-industry websites in its algorithm to rank hotels from one to five stars.&nbsp;

After receiving complaints from hoteliers about Google's rankings, the French government’s fraud and competition agency launched an investigation in 2019 and 2020. &nbsp;

It said it was to monitor “the nature and fairness of the information provided by the platform” across 7,500 establishments.&nbsp;

Google said that it has now made the “necessary changes to only reflect the official French star rating for hotels on Google Maps and Search.”&nbsp;

In other Google-related news, the search giant has struck a deal with Australia's Seven West Media that became the country's first major news outlet to strike a licensing deal with Google, as the government pushes ahead with a law that would force the Internet giant to pay media companies for content.&nbsp;

At an earnings announcement on Tuesday, Seven, which owns a free-to-air television network and the main metro newspaper in the city of Perth, said it would supply content for Google's News Showcase platform. It did not disclose terms.&nbsp;

The deal shows Seven splittings from rivals News Corp and Nine Entertainment which have failed to reach agreements with Google and instead backed laws, set to be passed this week, where the government sets the online giant's content fees in the absence of a private deal.&nbsp;

So far in Australia, only specialist online publishers and one regional newspaper have struck deals to receive payment for their content appearing on the new Google platform which went live in the country this month. Outside Australia, Reuters is among news outlets with similar Google deals.&nbsp;

"The negotiations with Google recognise the value of quality and original journalism throughout the country and, in particular, in regional areas," said Seven West Chairman Kerry Stokes in a statement.&nbsp;

Google's Australia CEO Mel Silva said the US company was "proud to support original, trusted, and quality journalism" by featuring Seven on its platform. Last month, Silva told a parliamentary hearing Google would pull its search engine from Australia if the so-called News Media Bargaining Code became law. A Google representative declined to comment on the effect of the Seven deal.&nbsp; 
&nbsp; 
(With inputs from agencies)&nbsp;

Google has been hit with an of 1.1 million euros ($1.3 million) fine after a probe found that Google's hotel rankings could be misleading for consumers, France's finance ministry and fraud watchdog said on Monday.

Google has been hit with an of 1.1 million euros ($1.3 million) fine after a probe found that Google's hotel rankings could be misleading for consumers, France's finance ministry and fraud watchdog said on Monday. Google used the official source Atout France as well as input from other hotel-industry websites in its algorithm to rank hotels from one to five stars. After receiving complaints from hoteliers about Google's rankings, the French government’s fraud and competition agency launched an investigation in 2019 and 2020. It said it was to monitor “the nature and fairness of the information provided by the platform” across 7,500 establishments. Google said that it has now made the “necessary changes to only reflect the official French star rating for hotels on Google Maps and Search.” In other Google-related news, the search giant has struck a deal with Australia's Seven West Media that became the country's first major news outlet to strike a licensing deal with Google, as the government pushes ahead with a law that would force the Internet giant to pay media companies for content. At an earnings announcement on Tuesday, Seven, which owns a free-to-air television network and the main metro newspaper in the city of Perth, said it would supply content for Google's News Showcase platform. It did not disclose terms. The deal shows Seven splittings from rivals News Corp and Nine Entertainment which have failed to reach agreements with Google and instead backed laws, set to be passed this week, where the government sets the online giant's content fees in the absence of a private deal. So far in Australia, only specialist online publishers and one regional newspaper have struck deals to receive payment for their content appearing on the new Google platform which went live in the country this month. Outside Australia, Reuters is among news outlets with similar Google deals. "The negotiations with Google recognise the value of quality and original journalism throughout the country and, in particular, in regional areas," said Seven West Chairman Kerry Stokes in a statement. Google's Australia CEO Mel Silva said the US company was "proud to support original, trusted, and quality journalism" by featuring Seven on its platform. Last month, Silva told a parliamentary hearing Google would pull its search engine from Australia if the so-called News Media Bargaining Code became law. A Google representative declined to comment on the effect of the Seven deal. (With inputs from agencies)

Google to pay over $1 million for misleading French hotel rankings 

The fading of economic pessimism across the world is bringing much-needed relief in the markets. From Japan to India, the stock markets are on an upswing today.

It was&nbsp;around the same time last year that&nbsp;nations world over had started implementing lockdowns to slow the spread of COVID-19 pandemic. And within a year, the stock markets have more than doubled in some regions including India.

On the first day of the third week of February, the stock markets today are once again at record high levels.

Global shares rose for the 11th day in a row to reach a peak with Japan's Nikkei touching 30,000 mark for the first time in more than three decades while India's Sensex also crossed 52,000 mark for the first time closing at 52,154.13 registering gains of 609.83 while Nifty 50 also gained 1% to end at 15,314.70. Backing the markets across the globe is the optimism about the rollout of COVID-19 vaccines and new fiscal aid from Washington.

The UK has already issued a first COVID-19 vaccine dose to more than 15 million people across its priority groups and the inoculation is being done in many parts of the world at a faster pace.

However, China, Taiwan and Hong Kong markets are closed for the Lunar New Year holiday today and US stock markets are also shut for the Presidents'&nbsp;Day holiday. So, this rally could be visible there once they open tomorrow.

Receiving a positive cue from their Asia-Pacific peers, the European stocks have opened in positive territory with backing from the successful vaccine rollouts that are fueling hopes of a global economic recovery.

The fading of economic pessimism across the world is bringing much-needed relief in the markets. From Japan to India, the stock markets are on an upswing today. It was around the same time last year that nations world over had started implementing lockdowns to slow the spread of COVID-19 pandemic.

The fading of economic pessimism across the world is bringing much-needed relief in the markets. From Japan to India, the stock markets are on an upswing today. It was around the same time last year that nations world over had started implementing lockdowns to slow the spread of COVID-19 pandemic. And within a year, the stock markets have more than doubled in some regions including India. On the first day of the third week of February, the stock markets today are once again at record high levels. Global shares rose for the 11th day in a row to reach a peak with Japan's Nikkei touching 30,000 mark for the first time in more than three decades while India's Sensex also crossed 52,000 mark for the first time closing at 52,154.13 registering gains of 609.83 while Nifty 50 also gained 1% to end at 15,314.70. Backing the markets across the globe is the optimism about the rollout of COVID-19 vaccines and new fiscal aid from Washington. The UK has already issued a first COVID-19 vaccine dose to more than 15 million people across its priority groups and the inoculation is being done in many parts of the world at a faster pace. However, China, Taiwan and Hong Kong markets are closed for the Lunar New Year holiday today and US stock markets are also shut for the Presidents' Day holiday. So, this rally could be visible there once they open tomorrow. Receiving a positive cue from their Asia-Pacific peers, the European stocks have opened in positive territory with backing from the successful vaccine rollouts that are fueling hopes of a global economic recovery.

Surging global stock markets mark fading of economic pessimism

Indian stock markets ended the day’s trade at their highest ever closing levels on Monday. After touching a record high of 52,235.97 during the day, the 30-share BSE Sensex ended 609.83 points or 1.18 per cent up at its new closing peak of 52,154.13.

Similarly, the broader NSE Nifty soared 151.40 points or 1 per cent to finish at a record 15,314.70. It touched an intra-day peak of 15,340.15.

Axis Bank led the Sensex gainers' chart, climbing 5.88 per cent, followed by ICICI Bank, Bajaj Finance, SBI, IndusInd Bank, HDFC, Bajaj Finserv and HDFC Bank.

On the other hand, Dr Reddy's, TCS, Tech Mahindra, HUL, Asian Paints and Titan were among the laggards, sliding up to 1.77 per cent.

Meanwhile, the global oil benchmark Brent crude was trading 1.30 per cent higher at USD 63.24 per barrel.

The rupee gained 7 paise to settle at 72.68 against the US dollar.

Global markets

Global shares rose for the 11th day in a row to hit a fresh peak on optimism about the rollout of Covid-19 vaccines and new fiscal aid from Washington, while tensions in the Middle East drove oil to a 13-month high.

With China and Hong Kong markets closed for the Lunar New Year holiday, Japan's Nikkei led the way, climbing 1.9 per cent to reclaim the 30,000-point level for the first time in more than three decades.

In Europe, shares scaled one-year highs on Monday with the pan-European STOXX 600 up 0.7 per cent. 
&nbsp;&nbsp; 
Oil joined equity markets in pushing higher, reaching its highest level since January 2020. Brent crude rose 1.6 per cent to $63.41 a barrel. US crude oil gained 2.1 per cent to $60.74.

In the cryptocurrency market, Bitcoin recovered some of its overnight weakness to trade down 2.3 per cent at $47,539.49, below a record high of $49,714.66.

(With inputs from Reuters)&nbsp;

Indian stock markets ended the day’s trade at their highest ever closing levels on Monday. After touching a record high of 52,235.97 during the day, the 30-share BSE Sensex ended 609.

Indian stock markets ended the day’s trade at their highest ever closing levels on Monday. After touching a record high of 52,235.97 during the day, the 30-share BSE Sensex ended 609.83 points or 1.18 per cent up at its new closing peak of 52,154.13. Similarly, the broader NSE Nifty soared 151.40 points or 1 per cent to finish at a record 15,314.70. It touched an intra-day peak of 15,340.15. Axis Bank led the Sensex gainers' chart, climbing 5.88 per cent, followed by ICICI Bank, Bajaj Finance, SBI, IndusInd Bank, HDFC, Bajaj Finserv and HDFC Bank. On the other hand, Dr Reddy's, TCS, Tech Mahindra, HUL, Asian Paints and Titan were among the laggards, sliding up to 1.77 per cent. Meanwhile, the global oil benchmark Brent crude was trading 1.30 per cent higher at USD 63.24 per barrel. The rupee gained 7 paise to settle at 72.68 against the US dollar. Global markets Global shares rose for the 11th day in a row to hit a fresh peak on optimism about the rollout of Covid-19 vaccines and new fiscal aid from Washington, while tensions in the Middle East drove oil to a 13-month high. With China and Hong Kong markets closed for the Lunar New Year holiday, Japan's Nikkei led the way, climbing 1.9 per cent to reclaim the 30,000-point level for the first time in more than three decades. In Europe, shares scaled one-year highs on Monday with the pan-European STOXX 600 up 0.7 per cent. Oil joined equity markets in pushing higher, reaching its highest level since January 2020. Brent crude rose 1.6 per cent to $63.41 a barrel. US crude oil gained 2.1 per cent to $60.74. In the cryptocurrency market, Bitcoin recovered some of its overnight weakness to trade down 2.3 per cent at $47,539.49, below a record high of $49,714.66. (With inputs from Reuters)

Markets surge to lifetime highs: Sensex rallies 610 points, Nifty ends above 15,300 led by banks

Tokyo's benchmark Nikkei index jumped nearly two percent Monday on hopes for business recovery, closing above the psychologically important 30,000 mark for the first time in more than three decades.

The Nikkei 225 index rose 1.91 percent, or 564.08 points, to 30,084.15, the highest close since 1990.

The broader Topix index advanced 1.04 percent, or 20.06 points, to 1,953.94.

"The 30,000 mark is symbolic but it's still a waypoint," said Toshikazu Horiuchi, a broker at IwaiCosmo Securities.

"Market sentiment has been supported by hopes for business recovery ahead of the nation's first vaccination," Horiuchi told AFP.

The coronavirus vaccine rollout is scheduled to start as early as Wednesday in Japan for healthcare professionals.

"Hopes for stimulus and monetary easing are also high, which helped bolster positive sentiment, but profit-taking could emerge at this level as the market is overheating," he added.

Masayuki Kubota, chief strategist at Rakuten Securities, said: "The Nikkei index is climbing as central banks in Japan, the United States and Europe keep their massive monetary easing policies in place because of the pandemic."

Ahead of the opening bell, the government said Japan's economy shrank in 2020 for the first time in more than a decade as it was battered by the coronavirus but the contraction was less than expected.

"The market largely shrugged off the GDP figures, which were already factored in," Horiuchi said.

The dollar fetched 105.02 yen in Asian afternoon trade, against 104.91 yen in New York late Friday.

Investors were paying attention to the impact of a 7.3-magnitude earthquake, which hit northeastern Japan late Saturday as news reports said more than 150 people were injured and shinkansen bullet train services were suspended.

"There was a chilling moment after the powerful quake in the Tohoku region this weekend, but the impact on the market seems to be limited," Okasan Online Securities said.

In Tokyo trading, SoftBank Group surged 2.12 percent to 10,005 yen after releasing strong earnings last week, while Uniqlo casual wear chain operator Fast Retailing jumped 4.09 percent to 99,460 yen.

Nissan plunged 2.83 percent to 609.9 yen following a news report that Apple had approached it in recent months about self-driving cars, which did not move forward. Nissan denied it was in talks with the US tech giant.

Toyota rose 0.51 percent to 8,456 yen with Honda up 1.09 percent at 3,052 yen.

Online mall giant and mobile carrier Rakuten plunged 6.48 percent to 1,110 yen after it reported a massive annual loss last week.

Tokyo's benchmark Nikkei index jumped nearly two percent Monday on hopes for business recovery, closing above the psychologically important 30,000 mark for the first time in more than three decades.

Tokyo's benchmark Nikkei index jumped nearly two percent Monday on hopes for business recovery, closing above the psychologically important 30,000 mark for the first time in more than three decades. The Nikkei 225 index rose 1.91 percent, or 564.08 points, to 30,084.15, the highest close since 1990. The broader Topix index advanced 1.04 percent, or 20.06 points, to 1,953.94. "The 30,000 mark is symbolic but it's still a waypoint," said Toshikazu Horiuchi, a broker at IwaiCosmo Securities. "Market sentiment has been supported by hopes for business recovery ahead of the nation's first vaccination," Horiuchi told AFP. The coronavirus vaccine rollout is scheduled to start as early as Wednesday in Japan for healthcare professionals. "Hopes for stimulus and monetary easing are also high, which helped bolster positive sentiment, but profit-taking could emerge at this level as the market is overheating," he added. Masayuki Kubota, chief strategist at Rakuten Securities, said: "The Nikkei index is climbing as central banks in Japan, the United States and Europe keep their massive monetary easing policies in place because of the pandemic." Ahead of the opening bell, the government said Japan's economy shrank in 2020 for the first time in more than a decade as it was battered by the coronavirus but the contraction was less than expected. "The market largely shrugged off the GDP figures, which were already factored in," Horiuchi said. The dollar fetched 105.02 yen in Asian afternoon trade, against 104.91 yen in New York late Friday. Investors were paying attention to the impact of a 7.3-magnitude earthquake, which hit northeastern Japan late Saturday as news reports said more than 150 people were injured and shinkansen bullet train services were suspended. "There was a chilling moment after the powerful quake in the Tohoku region this weekend, but the impact on the market seems to be limited," Okasan Online Securities said. In Tokyo trading, SoftBank Group surged 2.12 percent to 10,005 yen after releasing strong earnings last week, while Uniqlo casual wear chain operator Fast Retailing jumped 4.09 percent to 99,460 yen. Nissan plunged 2.83 percent to 609.9 yen following a news report that Apple had approached it in recent months about self-driving cars, which did not move forward. Nissan denied it was in talks with the US tech giant. Toyota rose 0.51 percent to 8,456 yen with Honda up 1.09 percent at 3,052 yen. Online mall giant and mobile carrier Rakuten plunged 6.48 percent to 1,110 yen after it reported a massive annual loss last week.

Tokyo's Nikkei closes above 30,000, first time since 1990

Domestic stock market indices traded at record highs on Monday afternoon led by strong gains in banking stocks amid positive global cues.&nbsp;

Barring IT and media indices, all other sectors traded in the green led by Nifty Private Bank, Nifty Financial Services, Nifty Realty, Nifty Auto, and Nifty FMCG.&nbsp;

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/sensex-hits-52000-mark-for-the-first-time-ever-nifty-at-record-highs-363696/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

<a href="https://www.wionews.com/business-economy/budget-rejuvenates-the-bulls-stock-markets-at-record-high-361126">Also read: Budget rejuvenates the bulls, stock markets at record high</a> 
 
BSE Sensex jumped to its lifetime high of 52,141.67, rallying 597.37 points during the morning trade on Monday.

The broader Nifty50 index also hovered above 15,300.

Banks and financial counters were the leading gainers in the market on Monday, with Bajaj Finance, Axis Bank, ICICI Bank, HDFC, Kotak Bank, IndusInd Bank, and HDFC Bank rising around 2.60 percent.

The benchmark index had closed above the 50,000 marks for the first time on February 3 this year, mainly driven by euphoria over the Union Budget. It closed above the 51,000 mark on February 8.

Markets have been rewarding investors of late as the BSE 30-share index has more than doubled from the massive lows it faced in March last year.

Proving to be a dreadful month for the domestic stock market, March 2020 saw the Sensex sinking a massive 8,828.8 points or 23 per cent during the month as concerns over the COVID-19 pandemic's impact on the economy ravaged investor sentiments.

From witnessing gigantic losses to record-shattering gains, investors witnessed a wide array of emotions in 2020.

Stock markets had depicted volatile trends during the last year, with the benchmark crashing to its one-year low of 25,638.9 on March 24, only to roar back to life during the later part of 2020 and hit its record high of 47,896.97 on the last day of trade on December 31.

In 2020, the benchmark index made monthly gains in seven, while closing with losses in five.

So far this year, the benchmark index has gained 4,390.34 points or 9.19 per cent.

Thanks to the ongoing rally, investor wealth has also been rising to new records and is currently at over Rs 205.47 lakh crore.&nbsp;

(With inputs from agencies)

Domestic stock market indices traded at record highs on Monday afternoon led by strong gains in banking stocks amid positive global cues. Barring IT and media indices, all other sectors traded in the green led by Nifty Private Bank, Nifty Financial Services, Nifty Realty, Nifty Auto, and Nifty FMCG.

Domestic stock market indices traded at record highs on Monday afternoon led by strong gains in banking stocks amid positive global cues. Barring IT and media indices, all other sectors traded in the green led by Nifty Private Bank, Nifty Financial Services, Nifty Realty, Nifty Auto, and Nifty FMCG. Also read: Budget rejuvenates the bulls, stock markets at record high BSE Sensex jumped to its lifetime high of 52,141.67, rallying 597.37 points during the morning trade on Monday. The broader Nifty50 index also hovered above 15,300. Banks and financial counters were the leading gainers in the market on Monday, with Bajaj Finance, Axis Bank, ICICI Bank, HDFC, Kotak Bank, IndusInd Bank, and HDFC Bank rising around 2.60 percent. The benchmark index had closed above the 50,000 marks for the first time on February 3 this year, mainly driven by euphoria over the Union Budget. It closed above the 51,000 mark on February 8. Markets have been rewarding investors of late as the BSE 30-share index has more than doubled from the massive lows it faced in March last year. Proving to be a dreadful month for the domestic stock market, March 2020 saw the Sensex sinking a massive 8,828.8 points or 23 per cent during the month as concerns over the COVID-19 pandemic's impact on the economy ravaged investor sentiments. From witnessing gigantic losses to record-shattering gains, investors witnessed a wide array of emotions in 2020. Stock markets had depicted volatile trends during the last year, with the benchmark crashing to its one-year low of 25,638.9 on March 24, only to roar back to life during the later part of 2020 and hit its record high of 47,896.97 on the last day of trade on December 31. In 2020, the benchmark index made monthly gains in seven, while closing with losses in five. So far this year, the benchmark index has gained 4,390.34 points or 9.19 per cent. Thanks to the ongoing rally, investor wealth has also been rising to new records and is currently at over Rs 205.47 lakh crore. (With inputs from agencies)

Markets surge to lifetime highs: Sensex reaches 52,000; Nifty above 15,300-mark

Bitcoin hit a new record high and approached $50,000 on Sunday, building on its record rally as Wall Street and Main Street increasingly adopt the world`s biggest cryptocurrency.

Bitcoin recently stood at $48,700 on Sunday morning, up more than 3%. It had traded as high as $49,714 earlier in the day. The cryptocurrency is up almost 70% year to date.

After long being shunned by traditional financial firms, bitcoin and other virtual currencies appear to be increasingly entering the mainstream as an asset and routine payment vehicle.

BNY Mellon said last week it formed a new unit to help clients hold, transfer and issue digital assets, just days after Elon Musk`s Tesla revealed it had bought $1.5 billion worth of the cryptocurrency and would soon accept it as a form of payment for its cars.

On Friday, Canada`s Ontario Securities Commission approved the launch of Purpose Bitcoin ETF, Toronto-based asset management company Purpose Investments Inc said in a statement. The OSC confirmed it had cleared the launch of the world`s first bitcoin exchange-traded fund, in a separate statement to Reuters.

“The institutional side and corporate America is showing that this movement is not going away anytime soon,” said Edward Moya, senior market strategist at OANDA. “There’s still a raft of big money that’s going to jump onto this bandwagon.”

Mayor Francis Suarez of Miami also said on Friday the Florida city is seeking to embrace bitcoin in its operations, a move that could bring dividends in terms of attracting technology companies.

In January, BlackRock Inc, the world`s largest asset manager, added bitcoin as an eligible investment to two funds. Credit card giant Mastercard`s plans to offer support for some cryptocurrencies also boosted bitcoin`s ambitions towards mainstream finance, though many banks remain reluctant to engage with it.

Cryptocurrency miner Riot Blockchain rose 14% on Friday and hit its highest in over 10 years with a weekly gain of 110%, its biggest weekly gain since 2017. Digital asset tech company Marathon Patent Group showed a weekly gain of over 70%.

Bitcoin hit a new record high and approached $50,000 on Sunday, building on its record rally as Wall Street and Main Street increasingly adopt the world`s biggest cryptocurrency.

Bitcoin hit a new record high and approached $50,000 on Sunday, building on its record rally as Wall Street and Main Street increasingly adopt the world`s biggest cryptocurrency. Bitcoin recently stood at $48,700 on Sunday morning, up more than 3%. It had traded as high as $49,714 earlier in the day. The cryptocurrency is up almost 70% year to date. After long being shunned by traditional financial firms, bitcoin and other virtual currencies appear to be increasingly entering the mainstream as an asset and routine payment vehicle. BNY Mellon said last week it formed a new unit to help clients hold, transfer and issue digital assets, just days after Elon Musk`s Tesla revealed it had bought $1.5 billion worth of the cryptocurrency and would soon accept it as a form of payment for its cars. On Friday, Canada`s Ontario Securities Commission approved the launch of Purpose Bitcoin ETF, Toronto-based asset management company Purpose Investments Inc said in a statement. The OSC confirmed it had cleared the launch of the world`s first bitcoin exchange-traded fund, in a separate statement to Reuters. “The institutional side and corporate America is showing that this movement is not going away anytime soon,” said Edward Moya, senior market strategist at OANDA. “There’s still a raft of big money that’s going to jump onto this bandwagon.” Mayor Francis Suarez of Miami also said on Friday the Florida city is seeking to embrace bitcoin in its operations, a move that could bring dividends in terms of attracting technology companies. In January, BlackRock Inc, the world`s largest asset manager, added bitcoin as an eligible investment to two funds. Credit card giant Mastercard`s plans to offer support for some cryptocurrencies also boosted bitcoin`s ambitions towards mainstream finance, though many banks remain reluctant to engage with it. Cryptocurrency miner Riot Blockchain rose 14% on Friday and hit its highest in over 10 years with a weekly gain of 110%, its biggest weekly gain since 2017. Digital asset tech company Marathon Patent Group showed a weekly gain of over 70%.

Bitcoin approaches $50,000, wider adoption fuels record rally

India will go ahead with a complete ban on investment in cryptocurrencies, while providing existing investors a transition period to exit their holdings.&nbsp;

Cryptocurrency isn’t fiat currency backed by the Reserve Bank of India and its usage in all forms will be banned through the new law that will be introduced in Parliament.

This would include a ban on transacting directly via foreign exchanges.

Seven million investors hold cryptocurrencies in India worth more than one billion dollars.&nbsp;The ban won’t be enforced overnight and cryptocurrency investors will be given a transition period of three-to-six months after the implementation of the new law to liquidate their investments. The proposed ban --- is part of a comprehensive bill on crypto and digital currencies. It may be introduced in the ongoing budget session of parliament.

Does this mean the end of the road for cryptocurrencies in India?&nbsp;

Not really, the bill may include certain exceptions. They could allow the promotion of the underlying technology. Like block chain, the decentralized digital ledger.

Also Read | <a href="https://www.wionews.com/world/archaeologists-unearth-worlds-oldest-beer-brewery-in-egypt-363522">Archaeologists unearth 'world's oldest' beer brewery in Egypt</a>

That drives — all types of cryptocurrencies.

An exception like this could provide the legal framework for the reserve bank of India to launch its official digital currency. China has a similar regulatory regime. It effectively banned trading and usage of cryptocurrencies in 2017.

Crypto exchanges were shut down. Last year; Beijing began testing its own digital currency in four cities. India’s move to regulate digital cash comes at a time — when the world is increasingly adopting it.&nbsp;

MasterCard and Visa have opened their payments network for some cryptocurrencies.&nbsp;

Customers using these platforms can now pay or accept money through crypto. Recently, auto giant Tesla made a big bet on bitcoin.

The company bought more 1.5 billion dollars worth of bitcoin.

It also allowed customers to pay through bitcoin for its products. Cryptocurrencies are now part of the mainstream global financial system.

India cannot afford to ignore this shift but it needs a legal framework first.

(With inputs from agencies)

India will go ahead with a complete ban on investment in cryptocurrencies, while providing existing investors a transition period to exit their holdings. Cryptocurrency isn’t fiat currency backed by the Reserve Bank of India and its usage in all forms will be banned through the new law that will be introduced in Parliament.

India will go ahead with a complete ban on investment in cryptocurrencies, while providing existing investors a transition period to exit their holdings. Cryptocurrency isn’t fiat currency backed by the Reserve Bank of India and its usage in all forms will be banned through the new law that will be introduced in Parliament. This would include a ban on transacting directly via foreign exchanges. Seven million investors hold cryptocurrencies in India worth more than one billion dollars. The ban won’t be enforced overnight and cryptocurrency investors will be given a transition period of three-to-six months after the implementation of the new law to liquidate their investments. The proposed ban --- is part of a comprehensive bill on crypto and digital currencies. It may be introduced in the ongoing budget session of parliament. Does this mean the end of the road for cryptocurrencies in India? Not really, the bill may include certain exceptions. They could allow the promotion of the underlying technology. Like block chain, the decentralized digital ledger. Also Read | Archaeologists unearth 'world's oldest' beer brewery in Egypt That drives — all types of cryptocurrencies. An exception like this could provide the legal framework for the reserve bank of India to launch its official digital currency. China has a similar regulatory regime. It effectively banned trading and usage of cryptocurrencies in 2017. Crypto exchanges were shut down. Last year; Beijing began testing its own digital currency in four cities. India’s move to regulate digital cash comes at a time — when the world is increasingly adopting it. MasterCard and Visa have opened their payments network for some cryptocurrencies. Customers using these platforms can now pay or accept money through crypto. Recently, auto giant Tesla made a big bet on bitcoin. The company bought more 1.5 billion dollars worth of bitcoin. It also allowed customers to pay through bitcoin for its products. Cryptocurrencies are now part of the mainstream global financial system. India cannot afford to ignore this shift but it needs a legal framework first. (With inputs from agencies)

India mulls Bitcoin ban, existing investors to get transition period

Electric car maker Tesla will set up its manufacturing plant in the southern Indian state of Karnataka, Chief Minister BS Yediyurappa confirmed on Saturday.&nbsp;

"American firm Tesla will set up the car-manufacturing unit in Karnataka," Yediurappa was quoted as saying by news agency PTI.&nbsp;

Watch |&nbsp;

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Last month, Tesla registered its office in Karnataka's capital Bengaluru, the hub of India's tech industry.&nbsp;

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Several reports in the previous months also claimed that Tesla will launch its research and development unit in India.&nbsp;

Tesla CEO Elon Musk in a tweet confirmed in December that in 2021 the company will launch its operations in India.&nbsp;

"Next year for sure," Musk had replied last year in a Twitter post with a photograph of a T-shirt with the message: "India wants Tesla".&nbsp;

Nitin Gadkari, Minister of Road Transport &amp; Highways, said Tesla will begin its operations in India with sales and will later expand into assembly and manufacturing of electric cars, reports Mint.&nbsp;

The government by Prime Minister Narendra Modi is trying to reduce India's oil dependance and is encouraging investment in electric vehicles.&nbsp;

The Indian government plans to offer $4.6 billion in incentives to companies setting up advanced battery manufacturing facilities in the country in a bid to push investment, news agency Reuters reported last year. 
&nbsp;

Electric car maker Tesla will set up its manufacturing plant in the southern Indian state of Karnataka, Chief Minister BS Yediyurappa confirmed on Saturday. "American firm Tesla will set up the car-manufacturing unit in Karnataka," Yediurappa was quoted as saying by news agency PTI.

Electric car maker Tesla will set up its manufacturing plant in the southern Indian state of Karnataka, Chief Minister BS Yediyurappa confirmed on Saturday. "American firm Tesla will set up the car-manufacturing unit in Karnataka," Yediurappa was quoted as saying by news agency PTI. Watch | Last month, Tesla registered its office in Karnataka's capital Bengaluru, the hub of India's tech industry. Also read | Twitter users 'stuck in traffic jam' with memes after Tesla officially enters India Several reports in the previous months also claimed that Tesla will launch its research and development unit in India. Tesla CEO Elon Musk in a tweet confirmed in December that in 2021 the company will launch its operations in India. "Next year for sure," Musk had replied last year in a Twitter post with a photograph of a T-shirt with the message: "India wants Tesla". Nitin Gadkari, Minister of Road Transport & Highways, said Tesla will begin its operations in India with sales and will later expand into assembly and manufacturing of electric cars, reports Mint. The government by Prime Minister Narendra Modi is trying to reduce India's oil dependance and is encouraging investment in electric vehicles. The Indian government plans to offer $4.6 billion in incentives to companies setting up advanced battery manufacturing facilities in the country in a bid to push investment, news agency Reuters reported last year.

Tesla will set up its manufacturing plant in Karnataka: CM Yediyurappa

Another leading bank from Germany has added its name into the list of loss-making entities in the year 2020. Germany's Commerzbank reported $3.3 Billion fourth-quarter loss.

World Business Watch: Germany's Commerzbank gets listed in loss-making entities in 2020

Dutch capital Amsterdam has now displaced London as Europe's biggest share trading centre, after left European Union's single market last year through Brexit.

World Business News: Amsterdam replaces London as Europe's biggest share trading centre

Automobile sales in India have gone up in January. The Japanese automaker Nissan is such one company after facing difficult time like others, is banging on. In this video, watch the exclusive interview of Rakesh Srivastava, MD, Nissan Motors India.

Exclusive: Nissan Motors India MD tells about Nissan's strategies for 2021 | World Business Watch

Whitney Wolfe Herd, at 31 has become a billionaire after her dating company Bumble's market debut saw a 67 per cent jump in shares on Thursday,&nbsp;

On Thursday at 01:03 pm in New York, the dating app's shares soared 67 per cent to debut at USD 72 on the Nasdaq, taking Herd's stake at USD 1.6 billion.&nbsp;

Also read | <a href="https://www.wionews.com/technology/dating-app-bumble-to-remove-body-shamers-off-the-platform-359847">Dating app Bumble to remove body-shamers off the platform</a>

"Hopefully this will not be a rare headline," the CEO told Bloomberg after stamping her name in the high-profile list.&nbsp;

The dating app which gives a woman the upper hand earlier raised USD 2.2 billion in an initial public offering.&nbsp;

"It's the right thing to do, it's a priority for us and it should be a priority for everyone else," she said on company's unique women-led management.&nbsp;

Bumble is among a number of Silicon Valley tech startups, which are seeking to capitalise on record-breaking demand for new shares on US markets.

The company was founded in 2014 by Herd, who is also the co-founder of rival app Tinder.

She left Tinder 2014 and sued the co-founders of the company over sexual harassment.&nbsp;

Match Group Inc, Tinder's parent ground, denied the allegations but paid nearly USD 1 million to settle the issue.&nbsp;

Whitney Wolfe Herd, at 31 has become a billionaire after her dating company Bumble's market debut saw a 67 per cent jump in shares on Thursday, On Thursday at 01:03 pm in New York, the dating app's shares soared 67 per cent to debut at USD 72 on the Nasdaq, taking Herd's stake at USD 1.

Whitney Wolfe Herd, at 31 has become a billionaire after her dating company Bumble's market debut saw a 67 per cent jump in shares on Thursday, On Thursday at 01:03 pm in New York, the dating app's shares soared 67 per cent to debut at USD 72 on the Nasdaq, taking Herd's stake at USD 1.6 billion. Also read | Dating app Bumble to remove body-shamers off the platform "Hopefully this will not be a rare headline," the CEO told Bloomberg after stamping her name in the high-profile list. The dating app which gives a woman the upper hand earlier raised USD 2.2 billion in an initial public offering. "It's the right thing to do, it's a priority for us and it should be a priority for everyone else," she said on company's unique women-led management. Bumble is among a number of Silicon Valley tech startups, which are seeking to capitalise on record-breaking demand for new shares on US markets. The company was founded in 2014 by Herd, who is also the co-founder of rival app Tinder. She left Tinder 2014 and sued the co-founders of the company over sexual harassment. Match Group Inc, Tinder's parent ground, denied the allegations but paid nearly USD 1 million to settle the issue.

Bumble's 31-year-old CEO, who left Tinder over sexual harassment becomes billionaire

Nearly half of the exporters of the goods in the United Kingdom are facing difficulties in trade, caused by the Brexit shift in trade terms.

World Business Watch: Nearly 50% of UK goods exporters face difficulties in trade

The new round of direct payments in the United States made to individuals - The US govt has posted the January budget deficit of $163 Billion.

World Business Watch: United States January budget deficit hits record high

U.S. video game retailer GameStop Corp decided it could not seize on the Reddit-fueled rally in its shares to sell hundreds of millions of dollars worth of stock because of regulatory restrictions, according to three people familiar with the matter.

The Grapevine, Texas-based company found itself at the epicenter of an unprecedented trading frenzy last month, as amateur investors organized on social media sites such as Reddit to bet against Wall Street hedge funds that had shorted its shares.

While many heavily shorted stocks, from movie theater operator AMC Entertainment Holdings Inc to headphone maker Koss Corp, also scored big rallies, "Gamestonk," as it was nicknamed by many online, including Tesla Inc Chief Executive Elon Musk, became synonymous with the wave of trading speculation.

GameStop`s market value soared from $1.4 billion on Jan. 11 to a peak of $33.7 billion on Jan. 28. At that point, GameStop could have raised hundreds of millions of dollars through a stock sale to pay down its debt pile, which totaled $216 million net of cash as of the end of October, and fund its transformation into a digital gaming service, as sales at its mall-based stores dwindle.

Yet GameStop never sold shares, the sources said, despite being egged on by many Wall Street pundits to do so. While it could still sell shares in the coming weeks, the opportunity to raise hundreds of millions of dollars has now slipped as the rally in its shares reversed. It now has a market value of $3.6 billion.

GameStop examined the possibility of selling stock during the rally, the sources said. The company had already registered with the U.S. Securities and Exchange Commission (SEC) to sell $100 million worth of stock in December, an option it did not exercise, the sources added.

GameStop decided it was restricted under U.S. financial regulations from selling shares because it had not yet updated investors on its earnings, the sources said. The SEC requires companies to have released such information when conducting stock sales. While GameStop had started preparing results for its fiscal fourth quarter, which ends in January, it was not due to report them for several more weeks, the sources said.

By the time its shares took off in the second half of January, executives had already compiled data and had a clear picture of what the quarter would look like, the sources said.

GameStop could have gone ahead with a stock sale by releasing preliminary earnings. But such a move, carried out for the purposes of a stock sale, came with significant logistical hurdles and regulatory risk that the company was not willing to accept, one of the sources said. The SEC had said it would scrutinize how companies took advantage of the trading volatility to sell stock and had asked that they provide more information to investors about the potential risks.

Representatives of GameStop and the SEC declined to comment.

"They were 2-1/2 months into their quarter when all this stuff took place," said David Erickson, a finance lecturer at the University of Pennsylvania`s Wharton School who was previously co-head of global equity capital markets at Barclays Plc "It`s so deep in the quarter that from a legal and corporate governance perspective they would likely be obligated to pre-announce some high-level financial information for the quarter. And that can`t be prepared in just a week."

AMC, AMERICAN AIRLINES

Other companies in the middle of the Reddit frenzy, whose financial quarters finished at the end of December and had already updated investors on their latest financial performance, were able to sell stock when their shares rallied at the end of January.

AMC, whose movie theater business has been hurt by the pandemic, raised roughly $1.2 billion through debt and equity deals after its shares rallied more than 700%.

American Airlines Group Inc, which has also suffered as demand for flights plummeted, pulled the trigger on a plan to sell more than $1 billion of stock last month after its shares rallied as much as 48%.

GameStop has lost market share to larger competitors, including Best Buy Co Inc and Amazon.com Inc, as consumers buy video games online or through big-box retailers.

Robert W. Baird &amp; Co analysts wrote last month that the best outcome for GameStop shareholders would be for the company to close the majority of its physical stores and diversify into online businesses, including hosting tournaments and events.

One of GameStop`s largest shareholders, online pet store Chewy Inc co-founder Ryan Cohen, and two of his partners joined the company`s board in January. Last year, hedge funds Hestia Capital Partners and Permit Capital Enterprise Fund also won seats on the board.

U.S. video game retailer GameStop Corp decided it could not seize on the Reddit-fueled rally in its shares to sell hundreds of millions of dollars worth of stock because of regulatory restrictions, according to three people familiar with the matter.

U.S. video game retailer GameStop Corp decided it could not seize on the Reddit-fueled rally in its shares to sell hundreds of millions of dollars worth of stock because of regulatory restrictions, according to three people familiar with the matter. The Grapevine, Texas-based company found itself at the epicenter of an unprecedented trading frenzy last month, as amateur investors organized on social media sites such as Reddit to bet against Wall Street hedge funds that had shorted its shares. While many heavily shorted stocks, from movie theater operator AMC Entertainment Holdings Inc to headphone maker Koss Corp, also scored big rallies, "Gamestonk," as it was nicknamed by many online, including Tesla Inc Chief Executive Elon Musk, became synonymous with the wave of trading speculation. GameStop`s market value soared from $1.4 billion on Jan. 11 to a peak of $33.7 billion on Jan. 28. At that point, GameStop could have raised hundreds of millions of dollars through a stock sale to pay down its debt pile, which totaled $216 million net of cash as of the end of October, and fund its transformation into a digital gaming service, as sales at its mall-based stores dwindle. Yet GameStop never sold shares, the sources said, despite being egged on by many Wall Street pundits to do so. While it could still sell shares in the coming weeks, the opportunity to raise hundreds of millions of dollars has now slipped as the rally in its shares reversed. It now has a market value of $3.6 billion. GameStop examined the possibility of selling stock during the rally, the sources said. The company had already registered with the U.S. Securities and Exchange Commission (SEC) to sell $100 million worth of stock in December, an option it did not exercise, the sources added. GameStop decided it was restricted under U.S. financial regulations from selling shares because it had not yet updated investors on its earnings, the sources said. The SEC requires companies to have released such information when conducting stock sales. While GameStop had started preparing results for its fiscal fourth quarter, which ends in January, it was not due to report them for several more weeks, the sources said. By the time its shares took off in the second half of January, executives had already compiled data and had a clear picture of what the quarter would look like, the sources said. GameStop could have gone ahead with a stock sale by releasing preliminary earnings. But such a move, carried out for the purposes of a stock sale, came with significant logistical hurdles and regulatory risk that the company was not willing to accept, one of the sources said. The SEC had said it would scrutinize how companies took advantage of the trading volatility to sell stock and had asked that they provide more information to investors about the potential risks. Representatives of GameStop and the SEC declined to comment. "They were 2-1/2 months into their quarter when all this stuff took place," said David Erickson, a finance lecturer at the University of Pennsylvania`s Wharton School who was previously co-head of global equity capital markets at Barclays Plc "It`s so deep in the quarter that from a legal and corporate governance perspective they would likely be obligated to pre-announce some high-level financial information for the quarter. And that can`t be prepared in just a week." AMC, AMERICAN AIRLINES Other companies in the middle of the Reddit frenzy, whose financial quarters finished at the end of December and had already updated investors on their latest financial performance, were able to sell stock when their shares rallied at the end of January. AMC, whose movie theater business has been hurt by the pandemic, raised roughly $1.2 billion through debt and equity deals after its shares rallied more than 700%. American Airlines Group Inc, which has also suffered as demand for flights plummeted, pulled the trigger on a plan to sell more than $1 billion of stock last month after its shares rallied as much as 48%. GameStop has lost market share to larger competitors, including Best Buy Co Inc and Amazon.com Inc, as consumers buy video games online or through big-box retailers. Robert W. Baird & Co analysts wrote last month that the best outcome for GameStop shareholders would be for the company to close the majority of its physical stores and diversify into online businesses, including hosting tournaments and events. One of GameStop`s largest shareholders, online pet store Chewy Inc co-founder Ryan Cohen, and two of his partners joined the company`s board in January. Last year, hedge funds Hestia Capital Partners and Permit Capital Enterprise Fund also won seats on the board.

How GameStop missed out on capitalising on the Reddit rally

Indian equity benchmarks held on to the comeback in afternoon trade, snapping a two-session losing streak, as investors weighed the benchmark index’s pace of gains against a slew of better-than-expected local earnings.

The S&amp;P BSE Sensex rose 0.4% to 51,531, while the NSE Nifty 50 Index gained 0.4% as well to end the session at 15,173. Both indices had closed the previous to sessions lower after six days of gains, their longest winning streak in a month that took them to new highs.

Global markets

Asian shares rested at record highs on Thursday as investors digested recent meaty gains, while bulls were sustained by the promise of endless free money after a benign reading on U.S. inflation and a dovish Federal Reserve outlook.

Adding to the torpor was a lack of liquidity as markets in China, Japan, South Korea and Taiwan were all on holiday.

MSCI's broadest index of Asia-Pacific shares outside Japan added 0.1 per cent. Japan's Nikkei was shut after ending at a 30-year peak on Wednesday, while Australia's main index held near an 11-month top.

(With inputs from Reuters)

Indian equity benchmarks held on to the comeback in afternoon trade, snapping a two-session losing streak, as investors weighed the benchmark index’s pace of gains against a slew of better-than-expected local earnings.

Indian equity benchmarks held on to the comeback in afternoon trade, snapping a two-session losing streak, as investors weighed the benchmark index’s pace of gains against a slew of better-than-expected local earnings. The S&P BSE Sensex rose 0.4% to 51,531, while the NSE Nifty 50 Index gained 0.4% as well to end the session at 15,173. Both indices had closed the previous to sessions lower after six days of gains, their longest winning streak in a month that took them to new highs. Global markets Asian shares rested at record highs on Thursday as investors digested recent meaty gains, while bulls were sustained by the promise of endless free money after a benign reading on U.S. inflation and a dovish Federal Reserve outlook. Adding to the torpor was a lack of liquidity as markets in China, Japan, South Korea and Taiwan were all on holiday. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.1 per cent. Japan's Nikkei was shut after ending at a 30-year peak on Wednesday, while Australia's main index held near an 11-month top. (With inputs from Reuters)

Sensex ends 222 points higher, Nifty tops 15,150

German auto giant Volkswagen joined hands with top US tech organisation Microsoft on Thursday for developing self-driving vehicle systems.&nbsp;

Volkswagen, which owns premium car brands like Porsche and Audi, is developing both self-driving cars and driver-assistance features such as adaptive cruise control in current vehicles.&nbsp;

Watch |&nbsp;

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The German auto giant said it aims to ramp up development of such systems, which are greatly becoming the norm in the vehicle industry, reports news agency AFP.&nbsp;

Also read | <a href="https://www.wionews.com/technology/google-cloud-signs-mega-deal-with-twitter-361603">Google Cloud signs mega deal with Twitter</a>

It aims to invest some (about USD 32.7 billion) 27 billion euros in this field by 2025.

"This is the next step in our strategic partnership," Microsoft director Scott Guthrie said.

Both the companies have not shared details about the terms and financial aspects of the deal.&nbsp;

The deal with Microsoft will allow the software updates adding new features to cars, a practice electric-car maker Tesla started much earlier than its rivals.&nbsp;

In 2018, Volkswagen inked a deal with Microsoft to connect its cars with Azure cloud computing service.&nbsp;

This deal will enable software updates of the same cloud to reflect on Volkswagen's cars.&nbsp;

On similar fronts, General Motors has just inked a deal with Microsoft to push its introduction of autonomous vehicles, while France's Renault partnered with Google last year. 
&nbsp;

German auto giant Volkswagen joined hands with top US tech organisation Microsoft on Thursday for developing self-driving vehicle systems. Volkswagen, which owns premium car brands like Porsche and Audi, is developing both self-driving cars and driver-assistance features such as adaptive cruise control in current vehicles.

German auto giant Volkswagen joined hands with top US tech organisation Microsoft on Thursday for developing self-driving vehicle systems. Volkswagen, which owns premium car brands like Porsche and Audi, is developing both self-driving cars and driver-assistance features such as adaptive cruise control in current vehicles. Watch | The German auto giant said it aims to ramp up development of such systems, which are greatly becoming the norm in the vehicle industry, reports news agency AFP. Also read | Google Cloud signs mega deal with Twitter It aims to invest some (about USD 32.7 billion) 27 billion euros in this field by 2025. "This is the next step in our strategic partnership," Microsoft director Scott Guthrie said. Both the companies have not shared details about the terms and financial aspects of the deal. The deal with Microsoft will allow the software updates adding new features to cars, a practice electric-car maker Tesla started much earlier than its rivals. In 2018, Volkswagen inked a deal with Microsoft to connect its cars with Azure cloud computing service. This deal will enable software updates of the same cloud to reflect on Volkswagen's cars. On similar fronts, General Motors has just inked a deal with Microsoft to push its introduction of autonomous vehicles, while France's Renault partnered with Google last year.

Volkswagen signs deal with Microsoft to develop self-driving vehicles

Stock market indices pared day's losses to end Wednesday's volatile session marginally lower.&nbsp;

The S&amp;P BSE Sensex closed 20 points lower at 51,309, after swinging 666.64 points intra-day. The broader markets however closed with decent gains. The BSE midcap index rose 0.7% while smallcap 0.4%.

NSE's Nifty50, on the other hand, closed 3 points, or 0.02 per cent, lower at 15,106.5 levels with 22 of the 50 constituents ending the day in the red.

Indian markets are up 11% so far this month on optimism from a growth-focused Budget and an upbeat outlook for companies, but the rally has been losing steam over two sessions.

Global markets

World shares rose to new all-time highs and European indexes strengthened, with market sentiment generally upbeat. In Europe, The STOXX 600 index rose 0.3 per cent, while German’s DAX rose 0.1 per cent.

Earlier in Asia, Japan's Nikkei added 0.2 per cent, Hong Kong's Hang Seng gained 1.2 per cent, and South Korea's Kospi advanced 0.5 per cent.

(With inputs from Reuters)

Stock market indices pared day's losses to end Wednesday's volatile session marginally lower. The S&P BSE Sensex closed 20 points lower at 51,309, after swinging 666.

Stock market indices pared day's losses to end Wednesday's volatile session marginally lower. The S&P BSE Sensex closed 20 points lower at 51,309, after swinging 666.64 points intra-day. The broader markets however closed with decent gains. The BSE midcap index rose 0.7% while smallcap 0.4%. NSE's Nifty50, on the other hand, closed 3 points, or 0.02 per cent, lower at 15,106.5 levels with 22 of the 50 constituents ending the day in the red. Indian markets are up 11% so far this month on optimism from a growth-focused Budget and an upbeat outlook for companies, but the rally has been losing steam over two sessions. Global markets World shares rose to new all-time highs and European indexes strengthened, with market sentiment generally upbeat. In Europe, The STOXX 600 index rose 0.3 per cent, while German’s DAX rose 0.1 per cent. Earlier in Asia, Japan's Nikkei added 0.2 per cent, Hong Kong's Hang Seng gained 1.2 per cent, and South Korea's Kospi advanced 0.5 per cent. (With inputs from Reuters)

Sensex dips 20 points, Nifty holds 15,100

Asian markets advanced again Wednesday as investors ignored a stall in Wall Street's rally, with eyes firmly on the long-term outlook for the global economy as lockdowns are eased and life slowly improves.

Falling infection rates, growing vaccination programmes and the prospects of a huge spending splurge by the US government within months continue to keep the mood on trading floors upbeat.

However, there remain worries that prices may have gone a little too far, which analysts said was capping any surge for now.

Declines in new cases, deaths and hospitalisation in major economies including the United States, Britain and Europe are fanning expectations they can begin opening up soon.

There is also apparently little concern about the emergence of new strains in parts of the world that some have warned could be more resistant to the vaccines.

"There is no evidence that new strains compromise protection against severe illness, and positive signs that consensus is shifting to re-opening once the most vulnerable are protected," said Stephen Innes at Axi.

Hong Kong led Wednesday's rally, piling on 1.8 percent above 30,000 thanks to a surge in Tencent and NetEase following news Chinese authorities had given the green light to their most eagerly awaited video games.

Shanghai also rose more than one percent as investors welcomed data showing China's factory gate prices rose for the first time in a year in January, indicating the economy was on a recovery track.

Gains in Tokyo were capped by news the Japanese government will keep containment measures in place for the time being.

Sydney, Seoul, Manila, Jakarta and Bangkok also rose but Mumbai, Singapore and Wellington fell slightly.

"Activity in Asia suggests that regional investors are not taking positioning off the boards ahead of the Lunar New Year holidays. If anything, it is precisely the opposite with Asian markets performing well" on Wednesday, said OANDA's Jeffrey Halley.

Investors brushed off a slight pullback in New York, where the Dow and S&amp;P 500 came off all-time highs, though the Nasdaq continued to another record.

Eyes on Biden stimulus push

But Mona Mahajan, at Allianz Global Investors, said some selling would be welcomed. "A pullback here could give tactical opportunities to those who were looking to get involved," she told Bloomberg TV.

"It seems like right now the story is just getting started, and the momentum is building behind it, and that story includes the reopening, vaccines, the downward trend now in some of the virus cases we've been seeing, supported by the stimulus talks and the Fed still on the sidelines."

Markets remain upbeat about the chances of Joe Biden pushing through his $1.9 trillion economic rescue package, and while there are warnings that the move -- along with an expected economic recovery -- will fan inflation, Federal Reserve officials were confident it would not be a long-term problem.

Biden said he was "optimistic" a bipartisan agreement could be passed and met top executives from leading companies including Walmart and JPMorgan Chase to shore up support.

However, with Republicans and some Democrats baulking at some parts of the proposal, including more than doubling the minimum wage, the final figure could be slightly lower -- some observers suggesting around $1.4 trillion.

Oil prices were flat, having risen for more than a week to 13-month highs thanks to bets that demand will surge as the world starts to look more normal. 
A drop in US inventories added to evidence that the commodity market is well on the road to recovery.

But Innes added: "That print will not dissuade oil prices from heating up further as Brent goes 'up, up and away', pushing through $61 and keeps climbing, floated higher by vaccine and stimulus balloons. Although I continue to view oil in overbought territory at these current levels and ripe for profit-taking."&nbsp;

Bitcoin was also struggling to push past $50,000 after this week's rally that came on the back of news that Elon Musk's electric carmaker Tesla had invested $1.5 billion in the cryptocurrency. 
The unit was hovering around $46,570, having topped out at $48,215 on Tuesday.

Key figures around 0710 GMT

Tokyo - Nikkei 225: UP 0.2 percent at 29,562.93 (close) 
Hong Kong - Hang Seng: UP 1.8 percent at 30,004.62 
Shanghai - Composite: UP 1.4 percent at 3,655.09 (close) 
Pound/dollar: UP at $1.3820 from $1.3813 at 2230 GMT 
Euro/dollar: UP at $1.2124 from $1.2116 
Euro/pound: UP at 87.73 pence from 87.71 pence 
Dollar/yen: UP at 104.59 yen from 104.58 yen&nbsp; 
Brent North Sea crude: FLAT at $61.11 per barrel 
West Texas Intermediate: DOWN 0.2 percent at $61.00 per barrel 
New York - Dow: DOWN 0.2 percent at $58.24 per barrel 
London - FTSE 100: UP 0.1 percent at 6,531.56 (close) 
&nbsp;

Asian markets advanced again Wednesday as investors ignored a stall in Wall Street's rally, with eyes firmly on the long-term outlook for the global economy as lockdowns are eased and life slowly improves.

Asian markets advanced again Wednesday as investors ignored a stall in Wall Street's rally, with eyes firmly on the long-term outlook for the global economy as lockdowns are eased and life slowly improves. Falling infection rates, growing vaccination programmes and the prospects of a huge spending splurge by the US government within months continue to keep the mood on trading floors upbeat. However, there remain worries that prices may have gone a little too far, which analysts said was capping any surge for now. Declines in new cases, deaths and hospitalisation in major economies including the United States, Britain and Europe are fanning expectations they can begin opening up soon. There is also apparently little concern about the emergence of new strains in parts of the world that some have warned could be more resistant to the vaccines. "There is no evidence that new strains compromise protection against severe illness, and positive signs that consensus is shifting to re-opening once the most vulnerable are protected," said Stephen Innes at Axi. Hong Kong led Wednesday's rally, piling on 1.8 percent above 30,000 thanks to a surge in Tencent and NetEase following news Chinese authorities had given the green light to their most eagerly awaited video games. Shanghai also rose more than one percent as investors welcomed data showing China's factory gate prices rose for the first time in a year in January, indicating the economy was on a recovery track. Gains in Tokyo were capped by news the Japanese government will keep containment measures in place for the time being. Sydney, Seoul, Manila, Jakarta and Bangkok also rose but Mumbai, Singapore and Wellington fell slightly. "Activity in Asia suggests that regional investors are not taking positioning off the boards ahead of the Lunar New Year holidays. If anything, it is precisely the opposite with Asian markets performing well" on Wednesday, said OANDA's Jeffrey Halley. Investors brushed off a slight pullback in New York, where the Dow and S&P 500 came off all-time highs, though the Nasdaq continued to another record. Eyes on Biden stimulus push But Mona Mahajan, at Allianz Global Investors, said some selling would be welcomed. "A pullback here could give tactical opportunities to those who were looking to get involved," she told Bloomberg TV. "It seems like right now the story is just getting started, and the momentum is building behind it, and that story includes the reopening, vaccines, the downward trend now in some of the virus cases we've been seeing, supported by the stimulus talks and the Fed still on the sidelines." Markets remain upbeat about the chances of Joe Biden pushing through his $1.9 trillion economic rescue package, and while there are warnings that the move -- along with an expected economic recovery -- will fan inflation, Federal Reserve officials were confident it would not be a long-term problem. Biden said he was "optimistic" a bipartisan agreement could be passed and met top executives from leading companies including Walmart and JPMorgan Chase to shore up support. However, with Republicans and some Democrats baulking at some parts of the proposal, including more than doubling the minimum wage, the final figure could be slightly lower -- some observers suggesting around $1.4 trillion. Oil prices were flat, having risen for more than a week to 13-month highs thanks to bets that demand will surge as the world starts to look more normal. A drop in US inventories added to evidence that the commodity market is well on the road to recovery. But Innes added: "That print will not dissuade oil prices from heating up further as Brent goes 'up, up and away', pushing through $61 and keeps climbing, floated higher by vaccine and stimulus balloons. Although I continue to view oil in overbought territory at these current levels and ripe for profit-taking." Bitcoin was also struggling to push past $50,000 after this week's rally that came on the back of news that Elon Musk's electric carmaker Tesla had invested $1.5 billion in the cryptocurrency. The unit was hovering around $46,570, having topped out at $48,215 on Tuesday. Key figures around 0710 GMT Tokyo - Nikkei 225: UP 0.2 percent at 29,562.93 (close) Hong Kong - Hang Seng: UP 1.8 percent at 30,004.62 Shanghai - Composite: UP 1.4 percent at 3,655.09 (close) Pound/dollar: UP at $1.3820 from $1.3813 at 2230 GMT Euro/dollar: UP at $1.2124 from $1.2116 Euro/pound: UP at 87.73 pence from 87.71 pence Dollar/yen: UP at 104.59 yen from 104.58 yen Brent North Sea crude: FLAT at $61.11 per barrel West Texas Intermediate: DOWN 0.2 percent at $61.00 per barrel New York - Dow: DOWN 0.2 percent at $58.24 per barrel London - FTSE 100: UP 0.1 percent at 6,531.56 (close)

Asian markets push higher as traders focus on recovery outlook

US layoffs eased in December and job openings increased modestly, suggesting the decline in employment that month was largely due to companies cutting back on hiring amid uncertainty caused by a raging COVID-19 pandemic.

World Business Watch: US job openings to rise in December, small businesses desperate for workers