Sensex, Nifty jump to lifetime highs

Malaysia to extend Covid-19 lockdown for two weeks until June 28

KUALA LUMPUR – Malaysia will extend its lockdown by another two weeks as new infections are still averaging 6,871 daily.

Senior Minister for Security Ismail Sabri Yaakob said on Friday (June 11) the National Security Council made the decision on the Health Ministry’s recommendation.

The present two-week lockdown began on June 1 and ends on Monday, June 14. The extension will run from June 15 to June 28.

This story is developing.

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Oil Prices Rise On Demand Optimism

Oil prices hit fresh multiyear highs on Friday and headed towards the third weekly gain amid expectations that the recovery in global oil demand will gather strength in the second half of the year.

Benchmark Brent crude futures rose 15 cents, or 0.2 percent, to $72.67 per barrel after closing at their highest since May 2019 on Thursday.

U.S. West Texas Intermediate (WTI) crude futures were up 12 cents, or 0.2 percent, at $70.41, after having ended the previous day at their highest level since October 2018.

OPEC said in its monthly oil market report on Thursday that it expects global oil demand to rise by 6 million barrels per day (bpd) this year from the lows of 2020, led by strong consumption in China and the United States, especially in the second half of the year.

The International Energy Agency predicted in its monthly report that global oil demand will recover to pre-pandemic levels late next year despite uncertainties.

The Paris-based energy watchdog noted that OPEC+ oil producers would need to boost output to meet demand set to recover to pre-pandemic levels by the end of 2022.

As rising vaccination rates lead to an easing of pandemic curbs, U.S. investment bank Goldman Sachs expects Brent crude prices to reach $80 per barrel this summer.

A Virtual Museum Celebrating African Women in Entertainment

Michael Tubes, a British-Nigerian photographer, has been snapping images of African female musicians for over 10 years. These images and other objects are now a part of the Women in African Music virtual exhibition which celebrates female performers and those behind the scenes. This year’s exhibition, organised by Sounds Of Africa, will also be dedicated to three female dancers who passed away in 2020: Kodak from Nigeria, Nicole from Ghana and Drey from Cameroon.

Cowboys minicamp notebook: Micah Parsons embraces lessons from veterans … and beats one at chess

FRISCO, Texas — Cowboys defensive end DeMarcus Lawrence asked rookie linebacker Micah Parsons during a film session: “You pass rush like that, Rook?”

Parsons confirmed he did.

"[Lawrence] was like, 'All right, tap in with me,' " Parsons recalled Wednesday from mandatory minicamp. "We’re going to work together before (training) camp starts."

The moment of camaraderie — the chance for mentorship and growth — has become par for the Cowboys’ first-round draft selection in the six weeks since he arrived at the Star.

Parsons doesn’t hesitate to ask fourth-year linebacker Leighton Vander Esch if an angle is correct, and he’s not fazed if defensive coordinator Dan Quinn pulls him aside to say: "I know I can pull more out of you."

SBI unveils Kavach Personal Loan scheme for COVID treatment

The loan covers expenses of COVID treatment of self and family members of the customer.

To provide loan to its customers facing financial stress on account of COVID treatment-related expenses, State Bank of India (SBI) has introduced a collateral-free offering called ‘Kavach Personal Loan’.

The loan covers expenses of COVID treatment of self and family members of the customer.

Under this scheme, customers can avail loans up to ₹5 lakh at an effective interest rate of 8.5% per annum for 60 months which is inclusive of three months moratorium.

Reimbursement of expenses already incurred for COVID related medical expenses will also be provided under the scheme.

Dinesh Khara, Chairman, SBI said, “We believe this new scheme will offer much-needed financial assistance to the people to manage the COVID treatment-related expenses without any hassle.”

This loan product will also be part of the COVID loan book being created by banks as per RBI’s COVID relief measures, SBI said.

Sensex, Nifty jump to lifetime highs

After touching a record intra-day peak of 52,641.53, the 30-share BSE index ended 174.29 points or 0.33% higher at 52,474.76.

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% higher at 52,474.76.

Similarly, the broader NSE Nifty advanced 61.60 points or 0.39% to its lifetime peak of 15,799.35.

Dr Reddy’s was the top gainer in the Sensex pack, rising over 3%, 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% higher at $72.68 per barrel.