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FDI rises 40% to $51.47 billion in Apr-Dec 2020-21

Sensex tumbles 599 points in line with global meltdown

The broader NSE Nifty too closed with a loss of 164.85 points or 1.08% at 15,080.75.

Snapping its three-session winning run, the BSE Sensex plunged by around 599 points to crack below the key 51,000-level on Thursday amid a meltdown in global shares triggered by a surge in US bond yields.

Intra-day, the 30-share BSE index fell as much as 905 points before ending the session at 50,846.08, showing a decline of 598.57 points or 1.16%.

The broader NSE Nifty too closed with a loss of 164.85 points or 1.08% at 15,080.75.

On the Sensex chart, HDFC, L&T, SBI, Axis Bank, Bajaj FinServ and HDFC Bank were major laggards – dropping up to 2.62%. Of 30 Sensex shares, 25 closed with losses.

"Domestic equities traded lower today mainly on weak global cues…Financials and Metals indices were keg drags today, while FMCG, Pharma and IT indices were resilient. A sharp 6 bps rise in 10-Year U.S.A treasury yield made investors jittery today,” said Binod Modi, Head – Strategy at Reliance Securities.

Over the previous three sessions, the Sensex had risen by 2,344.66 points or 4.77%, while the Nifty had added 716.45 points or 4.93%.

Foreign investors had bought equities worth ₹2,088.70 crore on a net basis in Indian capital markets on Wednesday, according to exchange data.

On Thursday, Asian shares too tumbled after an overnight surge in bond yields dragged Wall Street lower.

On the forex market front, the rupee ended 11 paise lower at 72.83 against the U.S. dollar.

Meanwhile, global crude oil benchmark Brent was trading 1.16% higher at $64.73 per barrel.

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Don Lemon Pulls No Punches With Pence: ‘Have You Not Debased Yourself Enough’ For Trump?

CNN’s Don Lemon urged viewers to “stop falling for this bullcrap” after former Vice President Mike Pence in an op-ed peddled the lie that the 2020 election was marred by “significant voting irregularities.”

The CNN anchor couldn’t quite believe that Pence continues to stump for ex-President Donald Trump, even after a violent mob of Trump supporters declared their intention to kill Pence during the deadly U.S. Capitol riot on Jan. 6.

“Remember they wanted to hang him,” Lemon recalled. “He’s so enthralled to this disgraced, twice-impeached one-term former president that he’s still supporting that big lie. The big lie that almost got him killed.”

“Come on, Mike Pence,” Lemon added. “Do you care about power that much? I guess you do. Sorry, I shouldn’t even ask that question. I shouldn’t waste my time.”

“Have you not debased yourself enough for that man?” Lemon asked.

Lemon later recalled how Trump “didn’t even call Mike Pence during the riot to find out if he and his family were okay.”

“Instead, he tweeted before he was permanently banned from Twitter, for his lies, tweeted an attack on his own vice president,” he said. “All that is okay with Mike Pence now. Fine with the big lie, fine with lives within in danger, fine with voter suppression. He’s gambled his integrity away.”

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FDI rises 40% to $51.47 billion in Apr-Dec 2020-21

Foreign direct investment (FDI) in India grew 40% to $51.47 billion during April-December 2020-21, according to government data released on Thursday.

India has attracted 22% higher FDI inflow (including re-invested earnings) of $67.54 billion during the first nine months of the current fiscal as against $55.14 billion in the same period of 2019-20.

"FDI equity inflow grew by 40% in the first nine months of 2020-21 ($51.47 billion) compared to the year ago period ($36.77 billion)," the commerce and industry ministry said.

The inflows increased by 37% per cent in the third quarter (October-December 2020) of 2020-21 to $26.16 billion.

In December, FDI surged 24% to $9.22 billion, the data showed.

The measures taken by the government on the fronts of FDI policy reforms, investment facilitation and ease of doing business have resulted in increased FDI inflows into the country, according to the ministry.

The foreign inflows are a major driver of economic growth and an important source of non-debt finance for the economic development of India.

"The steps taken in this direction during the last six and a half years have borne fruit, as is evident from the ever-increasing volumes of FDI inflows being received into the country. Continuing on the path of FDI liberalisation and simplification, government has carried out FDI reforms across various sectors," the ministry said.