New Delhi, June 11: Gold prices rose Rs 441 to Rs 48,530 per 10 gram in the national capital on Friday, according to HDFC Securities.
In the previous trade, the precious metal had closed at Rs 48,089 per 10 gram.
Silver also jumped Rs 1,148 to Rs 71,432 per kg, from Rs 70,284 per kg in the previous trade.
In the international market, gold was quoting marginally lower at USD 1,896 per ounce and silver was flat at USD 28.15 per ounce.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, “Gold prices traded marginally down with spot prices at COMEX (New York-based commodity exchange) trading at USD 1,896 per ounce on Friday.” (AGENCIES)
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VIRUS-UK-DELTA
Delta variant 60 per cent more transmissible,
reduces vaccine effect: UK experts
LONDON, June 11:
The Delta variant of COVID-19, or the B1.617.2 variant of concern (VOC) first identified in India, is about 60 per cent more transmissible than the Alpha strain identified in the UK and also reduces the effectiveness of vaccines to some extent, UK health experts report on Friday.
Public Health England (PHE), which has been tracking VOCs on a weekly basis, said that the cases of the Delta VOC have risen by 29,892 to hit 42,323 in the country – an increase of around 70 per cent.
The latest data also indicates that over 90 per cent of new COVID-19 cases in the UK are now the Delta variant, which continues to show a significantly higher rate of growth compared to the Alpha VOC – which was first identified in the region of Kent in England and was the dominant variant in the country so far.
“New research from PHE suggests that the Delta variant is associated with an approximately 60 per cent increased risk of household transmission compared to the Alpha variant. Growth rates for Delta cases are high across the regions, with regional estimates for doubling time ranging from 4.5 days to 11.5 days,” PHE said in its latest analysis.
“There are now analyses from England and Scotland supporting a reduction in vaccine effectiveness for Delta compared to Alpha. This is more pronounced after one dose (absolute reduction in vaccine effectiveness against symptomatic infection of approximately 15 per cent to 20 per cent after one dose),” its risk assessment analysis reads.
“Iterated analysis continues to show vaccine effectiveness against Delta is higher after two doses but that there is a reduction for Delta compared to Alpha. There is uncertainty around the magnitude of the change in vaccine effectiveness after two doses of Oxford-AstraZeneca vaccine,” it adds.
PHE said that with the Delta variant now accounting for the overwhelming majority of new cases in the UK, it is “encouraging” to see that the increase in cases is not yet accompanied by a similarly large increase in hospitalisations.
“PHE will continue to monitor closely over the next few weeks, but the data currently suggest that the vaccination programme continues to mitigate the impact of this variant in populations who have high two dose vaccine coverage,” it adds.
The health experts are using novel genotyping tests to detect the Delta VOC, giving a result for action within 48 hours. Positive tests identified through this process are subsequently confirmed through whole genome sequencing and PHE says that recent data have shown them to be extremely accurate in indicating a positive variant result.
“With numbers of Delta variant cases on the rise across the country, vaccination is our best defence. If you are eligible, we urge you to come forward and be vaccinated. Remember that two doses provide significantly more protection than a single dose,” said Dr Jenny Harries, Chief Executive of the UK Health Security Agency.
“However, while vaccination reduces the risk of severe disease, it does not eliminate it. With data showing that Delta is significantly more transmissible than Alpha, it is just as important as ever to follow public health advice, which has not changed. Get vaccinated, work from home where you can and remember ‘hands, face, space, fresh air’ at all times. These measures work, and they save lives,” she said.
The latest data comes as the UK government is set to announce its plans on Monday on whether the roadmap to lifting all lockdown restrictions by June 21 can go ahead. There are growing voices from within the scientific community calling for a delay to that date in order to administer further second doses of vaccines for the over-50s, to ensure greater protection against the Delta variant. (AGENCIES)
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BIZ-STOCKS-CLOSE
Sensex, Nifty jump to lifetime highs
Mumbai, Jun 11:
Equity benchmark Sensex climbed 174 points to close at its all-time high on Friday, tracking gains in index heavyweights Reliance Industries, Infosys and TCS amid a largely positive trend in global equities.
After touching a record intra-day peak of 52,641.53, the 30-share BSE index ended 174.29 points or 0.33 per cent higher at 52,474.76.
Similarly, the broader NSE Nifty advanced 61.60 points or 0.39 per cent to its lifetime peak of 15,799.35.
Dr Reddy’s was the top gainer in the Sensex pack, rising over 3 per cent, followed by PowerGrid, TCS, HCL Tech, Infosys and Reliance Industries.
On the other hand, L&T, IndusInd Bank, Bajaj Finserv and Bharti Airtel were among the laggards.
“Domestic equities extended gains with key benchmark indices Nifty and Sensex recording fresh all-time highs,” said Binod Modi, Head – Strategy at Reliance Securities.
A sharp rebound in IT, metals and RIL supported benchmark indices. Expectations of sharp recovery in economic activities and indications from government to roll out capital expenditure programme for FY22 faster lifted sentiments, he added.
Elsewhere in Asia, bourses in Shanghai and Tokyo were in the red, while Hong Kong and Seoul ended on a positive note.
Equities in Europe were largely trading with gains in mid-session deals.
International oil benchmark Brent crude was trading 0.22 per cent higher at USD 72.68 per barrel. (AGENCIES)
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BIZ-RUPEE-CLOSE
Rupee slips 1 paisa to close at 73.07 against US dollar
Mumbai, Jun 11:
The rupee on Friday fell by 1 paisa to end at 73.07 (provisional) against the US dollar amid strengthening of the American currency against key rivals and rising crude oil prices.
At the interbank foreign exchange market, the rupee opened at 72.97 per dollar as against its previous close of 73.06.
It hovered in the range of 72.91 to 73.09 during the day before ending at 73.07.
The domestic currency has lost 27 paise in the last four trading sessions.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.15 per cent to 90.21.
“The USDINR spot is hovering around 73 zone, and fears of rising international crude oil prices is leading to importers demand. In spot, the immediate resistance lies around 73.20-73.30, only a consistent trading above that can push prices towards 73.60-73.75 zone while 72.70-72.50 will act as a crucial support,” said Rahul Gupta, Head Of Research- Currency, Emkay Global Financial Services.
Gupta further added that “the focus now turns on the big final event, the Fed’s meeting next week, although there may not be much of a shift in rhetoric. If Fed hints that tapering discussion may be closer than before, a knee-jerk spurt may be witnessed in USDINR spot, but Fed won’t rush into tightening the stimulus so overall the dollar will remain soft.”
On the domestic equity market front, the BSE Sensex ended 174.29 points or 0.33 per cent higher at 52,474.76, while the broader NSE Nifty rose 61.60 points or 0.39 per cent to 15,799.35.
Brent crude futures, the global oil benchmark, rose 0.22 per cent to USD 72.68 per barrel.
Foreign institutional investors (FIIs) remained net buyers in the capital markets, as they purchased shares worth Rs 1,329.70 crore on Thursday, as per provisional data. (AGENCIES)
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SPO-CRI-IND-DHAWAN
Humbled to lead my country: Dhawan
New Delhi, Jun 11:
Handed responsibility to lead the Indian team on the Sri Lanka tour, opener Shikhar Dhawan on Friday said he feels humbled after being appointed captain of the national side.
India will play three ODIs and as many T20s in Colombo starting July 13. The selectors picked a bunch of fresh faces for the Sri Lanka series on Thursday as the main team is in the UK for the World Test Championship final and five Tests against England.
“Humbled by the opportunity to lead my country. Thank you for all your wishes,” tweeted Dhawan.
The 35-year-old has played 34 Tests, 145 ODIs and 65 T20s. Bhuvneshwar Kumar has been named Dhawan’s deputy.
Five players have received their maiden India call up for the series including K Gowtham, Devdutt Padikkal, Nitish Rana, Ruturaj Gaekwad and Chetan Sakariya. (AGENCIES)
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