Business Live: Shares draw a falling streak as banks fall;

Benchmark stock indices opened the day on a negative note, snapping a winning streak as coronovirus cases continue to rise.

Join us as you follow the top business news through the day.

10:30 am

The President of the World Bank says that rapid global growth is primarily driven by the United States, China and India

Now a fast global development driven primarily by the US, China and India, World Bank President David Malpas even said he expressed concern over the growing inequality caused by the COVID-19 epidemic.

He said that concerns about inequality in terms of vaccination and average income are not growing too fast for some countries.

“But there is also concern that there is inequality. Inequality in terms of vaccination, in terms of average income which for some countries is not growing very fast and may go down. He said that there is a difference in interest rate, where poor countries have to face very high interest rates and they have not come down in the way of global interest rates.

10:00 am

As banks fall, shares win the snapping streak

The epidemic returned to the markets.

Reuters Report: “Indian stocks took the ground on Friday after three seasons of downward pressure in private sector lenders, while a resurgence in coronovirus cases led to a ban in stocks of consumer goods producers in some states.

The NSE Nifty 50 index was down 0.08% at 14,863.50, while the S&P BSE Sensex was down 0.16% at 49,666.27. The two biggest drugs on the Nifty 50 were HDFC Bank and ICICI Bank.

India is registering a daily increase in COVID-19 cases, prompting some states to announce tougher restrictions.

Shares of consumer goods companies rose 1.3%, the highest among the 14 sectoral indices. Consumer products giant Hindustan Unilever gained 3%. ‘

9:30 am

India will resume buying oil from Iran once US sanctions are relaxed

A senior government official said that India would resume purchasing crude oil from Iran.

India stopped importing oil from Iran from mid-2019 onwards following sanctions on the Persian Gulf nation by the Trump administration.

The US and other world powers are meeting in Vienna to revive the Iran nuclear deal.

“After the ban is lifted, we can resume oil imports from Iran,” the official said.

He said that Indian refiners have started preparations and can go on contract quickly after the restrictions are lifted.