Business

These rules "shall apply to import of goods into India where the importer makes a claim of preferential rate of duty in terms of a trade agreement," it said.

Tata Consultancy Services (TCS), HDFC Bank, Hindustan Unilever Limited (HUL), HDFC, Kotak Mahindra Bank, ICICI Bank and ITC were the gainers while Reliance Industries Limited (RIL), Infosys and Bharti Airtel witnessed a decline in their market valuation.

Stocks that moved heavily or traded substantially Friday:

Oil prices lost about 1% on Friday as the economic recovery worldwide runs into stumbling blocks due to renewed coronavirus lockdowns and on worries about rising crude supply.

This include personal income tax (PIT) refunds amounting to Rs 28,180 crore issued to over 23.05 lakh taxpayers and corporate tax refunds amounting to Rs 60,472 crore to over 1.58 lakh taxpayers during this period.

Sandhu observed that India's bilateral trade has been growing at the rate of 10 per cent on a year-to-year basis, reaching USD 150 billion in 2019.

Gold recovered on Thursday from an over 3% slide in the last session, after U.S. jobless claims unexpectedly topped one million again and the Federal Reserve minutes reiterated concerns over economic recovery.

India's silver imports are likely to fall by more than 40 percent from a year ago to the lowest level in eight years, with investors booking profit by selling stocks after local prices rallied to a record high this month, leading importers said.

South Korea's President Moon Jaein named Lee Seungheon on Thursday as the new senior deputy governor at the central bank and voting board member on its monetary policy committee.

Dutch marine services provider Boskalis said on Thursday it expected its 2020 core profit to match last year's result, offering a more optimistic outlook than market forecasts citing wellfilled order books.

Asian equities and U.S. futures fell on Thursday, hurt by the U.S. Federal Reserve's cautious view of the economy, tensions with China and new clusters of coronavirus infections.

The S&P 500 and the Nasdaq indexes hit alltime highs on Wednesday as Apple became the first publicly listed U.S. company to cross $2 trillion in market capitalization, with strong results from retailers Target and Lowe's also lifting sentiment.

Shipping group Maersk on Wednesday issued fullyear earnings guidance above its forecast at the beginning of the year and said it expects demand for moving containers at sea to return to preCOVID levels in the first half of next year.

India needs to continue to implement critical reforms in key areas such as health, labour, land, skills and finance to come out stronger from the impact of the COVID-19 pandemic, the World bank said.

After touching a high of 38,788.51 during the day, the BSE Sensex settled 86.47 points or 0.22 per cent higher at 38,614.79.

Comparable store sales in the U.S. surged 35.1% at Lowe's and online orders more than doubled with Americans spending much more time at home during the pandemic.