Market Live Updates Today: Trends on SGX Nifty indicate a positive opening for the index in India with 63 points gain
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Asian stocks set to track US gains on Wednesday, as falling bond yields eased concerns about surging inflation, although focus will shift to Chinese markets amid worries about policy tightening in the world's second-largest economy.
US stocks rallied on Tuesday, with the Nasdaq gaining about 4% to recoup heavy losses from the previous session as US bond yields retreated and investors scooped up battered technology stocks.
Live Updates
- 10 March 2021 9:12 AM IST
Loans to real estate developers see an 81% increase on improvement in housing sales
There was a 81 percent year-on-year increase in the number of loans sanctioned to real estate developers during the December quarter of 2020, and an almost 180 percent growth in the sanctioned loan amount at Rs 37,921 crore, showed data shared by Propstack.
With housing sales picking up on the back of record-low home loan rates and stamp duty cuts in many states, several developers have considered refinancing their existing loans. Banks too have come forward to lend on account of increased cashflows for some developers, the real estate data analytics firm said.
- 10 March 2021 9:11 AM IST
E-invoice mandatory for business with over Rs 50 crore turnover from April 1
The government has made it mandatory for businesses with over Rs 50 crore turnover to generate e-invoices for B2B transactions from April 1. Under Goods and Services Tax (GST) law, e-invoicing for business-to-business (B2B) transactions has been made mandatory for companies with turnover of over Rs 500 crore and Rs 100 crore from October 1, 2020, and January 1, 2021, respectively.
E-invoicing will be extended to companies with turnover over Rs 50 crore from April 1, the Central Board of Indirect Taxes and Customs (CBIC) said in a notification. Under e-invoicing, taxpayers have to generate invoices on their internal systems (ERP/accounting/billing software) and then report them online to the Invoice Registration Portal (IRP).
- 10 March 2021 9:10 AM IST
Vaccines, US stimulus boost global GDP forecast: OECD
The OECD sharply raised its 2021 global growth forecast on Tuesday as the deployment of vaccines and a huge US stimulus programme have greatly improved economic prospects. The Paris-based Organisation for Economic Co-operation and Development says it now expects the global economy to grow by 5.6 percent, an increase of 1.4 percentage points from its December forecast.
