Tuesday, 31 January 2023

Sensex Gains 450 Points Ahead Of Budget, Nifty At 17,792

India's Predicted XI, 3rd T20I: Will Gill Make Way For Prithvi Shaw?

Team India registered a six-wicket victory against New Zealand in the second T20I in Lucknow on Sunday to level the three-match series 1-1. The match turned out to be a low-scoring thriller as both the team struggled to put up a good show with the bat. Asked to bowl first, the Hardik Pandya-led side restricted the visitors for 99/8 in 20 overs. However, the hosts also lost some wickets in the chase but Suryakumar Yadav anchored the innings and took Team India across the line with one ball remaining. The result of the three-match series will now be declared in the third and final T20I on Wednesday in Ahmedabad. In the second match, Team India's top-order miserably failed to get a big score. This might open a door for batter Prithvi Shaw in the Playing XI. 

Here's our predicted India XI for the third T20I:

Prithvi Shaw: As Shubman Gill failed to deliver a good performances in the first two matches, the management might give a chance to Prithvi Shaw in the third T20I. The 23-year-old batter, who played his last international match in 2021, had a blistering run in domestic cricket this year.  

Ishan Kishan: The wicketkeeper-batter played yet another poor knock in the second T20I and got dismissed for 19 off 32 balls. He will look to redeem himself in the third match. 

Suryakumar Yadav: The star batter came as a savior for India and remained unbeaten at 26 to take the hosts across the line in the second match. He will now eye a bigger innings in the third T20I. 

Rahul Tripathi: After falling for duck in the first T20I, Tripathi was dismissed for 13 in the second match. The 31-year-old batter really needs to deliver a good performance in the next match. 

Hardik Pandya: The skipper scalped one wicket and leaked 25 runs in his 4-over spell. Later, he stitched a match-winning partnership with Suryakumar Yadav, where he contributed with 15* runs. 

Deepak Hooda: The right-handed batter did not bat in the second T20I but gave a good performance with the ball. In his 4-over quota, he took one wicket and conceded only 17 runs.

Washington Sundar: The all-rounder conceded 17 runs and took one wicket in three overs. Apart from this, he also scored 10 runs before he was run out. 

Kuldeep Yadav: The left-arm wrist spinner gave a good performance as he took one wicket and leaked only 17 runs in four overs. 

Arshdeep Singh: The young India pacer, who had a forgettable outing in the first T20I, redeemed himself in the second match as he scalped two wickets and conceded only 7 runs in two overs. 

Shivam Mavi: The right-handed pacer went wicketless and turned out to be expensive as he gave away 11 runs in one over. 

Yuzvendra Chahal: The veteran spinner replaced Umran Malik and strengthened India's spin attack. Chahal bowled two overs in the second T20I and gave away only four runs for two wickets.



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Live Market Updates: Nifty, Sensex Set To Rise Higher Ahead Of Budget 2023

Cheteshwar Pujara Starts Preparation For Border-Gavaskar Trophy. See Pics

India middle-order veteran Cheteshwar Pujara has started preparations for the upcoming Border-Gavaskar Trophy Test series against Australia, which will be starting from February 9 onwards. The batter took to Twitter and shared some pictures from a practice session. "Getting ready for India vs Australia," tweeted Pujara. It will be important for Team India that this batter displays his grit, determination and steely approach to batting to the fullest against a world-class Australian bowling attack. He was in fine form last year. In five Tests and 10 innings in 2022, Pujara scored 409 runs at an average of 45.44. He scored one century and three half-centuries last year.

His century came after 1,400-plus days back in December last year. Before this, he had hit a century in January 2019. Two years of inconsistent form followed the batter as he could average only 20.37 (2020) and 28.08 (2021) and scored a total of 865 runs in 18 Tests and 34 innings with seven fifties.

But a stint with Sussex county in England turned around things for him. In his eight matches for Sussex during the County Championship, he scored 1,094 runs at an average of 109.40. He scored five hundred-plus scores in the championship in 13 innings, with the best score of 231. He was the fourth-highest run-scorer in the championship.

Pujara is the sixth-highest run-scorer in history of the Border-Gavaskar Trophy. In 20 matches and 37 innings, he has scored 1,893 runs at an average of 54.08 with five centuries and 10 half-centuries and the best score of 204.

The batter's peak performance in BGT came back in 2018-19 in Australia, where he topped the batting charts and won the 'Man of the Series' award. In four matches and seven innings, he scored 521 runs at an average of 74.42, with three centuries and a fifty. His best individual score was 193.

In the 2020-21 edition of the series, which saw India making history and winning the series 2-1 after battling the absence of star batter Virat Kohli, poor performance in the first Test which saw them get all out for just 36, racism and injuries to key players, Pujara was one of India's brightest stars. In four matches and eight innings, he scored 271 runs at an average of 33.87, with three fifties and a best of 77. His best performance was a knock of 56 during the final Test at The Gabba in Brisbane, which saw him overcome a lot of body blows to steer his team to a win, which was Aussie's first Test loss at the venue since 1988.

The series is a big one for both teams as they look to nail down a spot in the World Test Championship (WTC) final. The series begins in Nagpur on February 9 with Tests in Delhi, Dharamsala and Ahmedabad.

Australia is at the top of WTC standings with a win percentage of 75.56 and have won 10 Tests, lost one and drawn four. India is at the second spot with a win percentage of 58.93 and have won five Tests, lost four and drawn one.

India's Test squad for the first two Tests against Australia: Rohit Sharma (Captain), KL Rahul (vice-captain), Shubman Gill, Cheteshwar Pujara, Virat Kohli, Shreyas Iyer, KS Bharat (wk), Ishan Kishan (wk), R. Ashwin, Axar Patel, Kuldeep Yadav, Ravindra Jadeja, Mohammad Shami, Mohammed Siraj, Umesh Yadav, Jaydev Unadkat and Suryakumar Yadav.



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Monday, 30 January 2023

Watch: Pollard Smashes Ball Outside Stadium In ILT20. Passerby Does This

The ILT20, being held in the UAE, has seen some great on-field action. On Sunday, whirlwind half-centuries from Muhammad Waseem, Kieron Pollard and Andre Fletcher helped MI Emirates record a whopping 241 for 3 in 20 overs. MI Emirates' left-arm medium pacer Fazalhaq Farooqi, with a deadly three-wicket spell, backed by Zahoor Khan and  Imran Tahir with two wickets each, then bowled out Desert Vipers for a paltry 84 runs in 12.1 overs for a massive 157 runs win in the 21st match of the franchise league at the Sharjah Cricket Stadium on Sunday.

UAE's Waseem set the tempo for this superlative show from MI Emirates scoring a spectacular 86-run knock off 44 balls with 11 boundaries and four sixes. Fletcher, who played second fiddle, scored 50 off 39 balls with four boundaries and two sixes. Together they put on an opening partnership of 141 runs in 12.3 overs. After this show from the openers, skipper Kieron Pollard hit a 19-ball unbeaten half-century studded with four boundaries and four sixes. He added 89 runs in just 5.2 overs along with Dan Mousley, who cracked an unbeaten knock of 31 runs off 17 balls with three fours and two sixes.

The match was also witness to a funny incident. Mousley, while facing the bowling of Matheesha Pathirana, hit a huge six that landed outside the stadium. A passerby picked up the ball and then walked away. That was not all as Pollard too hit a maximum that landed outside the stadium. This time, however, a man who was walking down the road threw the ball back inside the stadium.

Watch: Pollard Lands Ball Outside Stadium In ILT20. Passerby Does This

MI Emirates not only recorded the highest score of the tournament but also the biggest victory of the tournament. Incidentally, this is also the second-highest score in a T20 league at the Sharjah Cricket Stadium after Balkh Legends had piled up 244 for 6 in 20 overs against Kabul Zwanan in the 2018 Afghanistan Premier League.



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Inflation In India Likely To Fall To 5% In 2023, 4% In 2024: IMF

Inflation in India is expected to come down from 6.8% in the current fiscal year ending March 31 to 5% the next fiscal, and then drop further to 4% in 2024, the International Monetary Fund (IMF) said on Tuesday.

"Inflation in India as in other countries is expected to come down from 6.8% in 2022 to 5% in 2023 and then 4% coming towards the target in 2024," Daniel Leigh, Division Chief, Research Department of the IMF told reporters.

"That partly reflects the central bank's actions," he added, According to the World Economic Outlook update released by the IMF on Tuesday, about 84% of countries are expected to have lower headline (consumer price index) inflation in 2023 than in 2022.

Global inflation is set to fall from 8.8% in 2022 (annual average) to 6.6% in 2023 and 4.3% in 2024 -- above pre-pandemic (2017–19) levels of about 3.5 percent, it said.

The projected disinflation partly reflects declining international fuel and non-fuel commodity prices due to weaker global demand. It also reflects the cooling effects of monetary policy tightening on underlying (core) inflation, which globally is expected to decline from 6.9% in the fourth quarter of 2022 (year over year) to 4.5% by the fourth quarter of 2023, the IMF said.

“Still, disinflation will take time: by 2024, projected annual average headline and core inflation will, respectively, still be above pre-pandemic levels in 82% and 86% of economies,” it said.

In advanced economies, annual average inflation is projected to decline from 7.3% in 2022 to 4.6% in 2023 and 2.6% in 2024 -- above target in several cases. In emerging markets and developing economies, projected annual inflation declines from 9.9% in 2022 to 8.1% in 2023 and 5.5% in 2024, above the 4.9% pre-pandemic (2017–19) average, the IMF said.

In low-income developing countries, inflation is projected to moderate from 14.2% in 2022 to 8.6% in 2024 -- still high, but close to the pre-pandemic average, it further said.

In a blog post, Pierre-Olivier Gourinchas, Chief Economist and Director, Research Department of the IMF, wrote that global inflation is expected to decline this year but even by 2024, projected average annual headline and core inflation will still be above pre-pandemic levels in more than 80% of countries.

“The inflation news is encouraging, but the battle is far from won. Monetary policy has started to bite, with a slowdown in new home construction in many countries. Yet, inflation-adjusted interest rates remain low or even negative in the euro area and other economies, and there is significant uncertainty about both the speed and effectiveness of monetary tightening in many countries,” Gourinchas said.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)



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"What's Your Problem?": Buttler, Rassie's Altercation Caught On Stump Mic

South Africa took an unassailable 2-0 lead over England in the three-match ODI series, after claiming a five-wicket win in the second ODI on Sunday. Asked to bat first, the visitors posted 342/7 in 50 overs after Jos Buttler and Harry Brook played top knocks of 94* and 80 respectively. However, the game completely turned upside down in the second innings when South Africa skipper Temba Bavuma smashed 109 off 102 balls as the hosts chased down the target with five wickets and five balls to spare. Apart from such a spectacular win, one moment which grabbed everyone's attention was the banter between Jos Buttler and Rassie van der Dussen that was caught on stump mic.

In the 19th over of South Africa's chase, a conversation between England skipper and wicketkeeper Buttler, Jos Buttler, and van der Dussen was captured on the stump mic. Buttler was heard saying, "I am trying to get to the ball” to which Dussen says “I saw”.

The conversation then got intense when Buttler said, "What's your problem Rassie. It's not all about you all the time. I am allowed to try and catch the ball”. Later, the umpire entered as a peacemaker and asked both players to calm down. 

Coming to the match, Bavuma sent England in to bat, reasoning correctly that there could be early life in the pitch. England struggled initially, losing both openers inside the first seven overs, but prospered as batting conditions eased.

Harry Brook, playing in his second one-day international after being dismissed for naught in the first match on Friday, made 80 off 75 balls. Captain Jos Buttler hit an unbeaten 94 off 82 deliveries.

Moeen Ali was also in fine form for England, hitting 51 off 45 balls and sharing a fifth-wicket stand of 106 with Buttler.

There was a brief lull after Ali's dismissal but England scored 60 runs off the last four overs, with Sam Curran hitting three sixes in scoring 28.

Bavuma and Quinton de Kock made a fast start, putting on 77 for the first wicket in 12 overs. All the South African batsmen made contributions and the hosts were always up with or close to the required rate. David Miller hit 58 not out off 37 balls and finished the match with a six off Chris Woakes.

(With AFP Inputs)



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Tax Cuts, Factory Incentives: What To Watch For In Budget 2023

Union budget on Wednesday will test the government's resolve to stay fiscally prudent as expectations of lower taxes, wider social security net and further boost to production gather steam before national elections.

Finance Minister Nirmala Sitharaman may tweak income-tax slabs to provide relief to the nation's vast middle class and increase spend on the poor through programs such as rural jobs, while ramping up financial incentives for local manufacturing, according to economists and reports in local media.

Social welfare programs would get "appropriate" allocation as "the gap between have and have nots has widened," said India Ratings & Research Pvt. economist Devendra Kumar Pant. Inflation has eroded spending power and relief in tax "can provide the much-needed thrust to the consumption demand."

Prime Minister Narendra Modi's final full-year spending plan before 2024 polls comes amid rising interest rates and slowing global growth, which could make him desist from outright populism. Economists in a Bloomberg survey see fiscal deficit narrowing to 5.9% of gross domestic product, from 6.4% this year, needing another year of record borrowing.

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While markets will be closely watching for the budget speech at 11 am  to see what Asia's third-biggest economy has in store for investors, US short seller Hindenburg's scathing report on billionaire Gautam Adani's conglomerate has also put spotlight on the country, and the issue may reverberate in the budget session of parliament.

Here are some of the measures to look out for in the budget:

Tax Tweaks

Sitharaman's recent comments on knowing the "pressures of the middle class" have added to speculation she would put some money in the pockets of taxpayers. But there are no free lunches. "Any tinkering with rates at the lower income brackets will be compensated by increasing the cess/surcharge for the upper income brackets," Yes Bank economists led by Indranil Pan said, projecting a 15% rise in tax receipts next year.

She may also raise import duties on items such as private jets, helicopters, high-end electronic items and jewelery to encourage domestic manufacturing, according to The Economic Times.

Social Sector

India's jobless rate jumped to a 16-month high of 8.3% last month, underscoring the challenge to create jobs for the world's biggest population. DBS Group economist Radhika Rao sees the spend on rural job guarantee topping this year's allocation of 730 billion rupees ($9 billion), with crop insurance, rural road infrastructure and low-cost housing also getting attention.

India's world-beating growth masks rising inequality with 21 wealthiest billionaires possessing more wealth than 700 million Indians, according to Oxfam India. The budget may widen the ambit of small savings plans for the elderly and the girl child, said Soumya Kanti Ghosh, an economist with State Bank of India.

Manufacturing

With India positioning itself as an alternative to China in the global supply chain, manufacturers willing to set up factories in the country expect more financial benefits from the government. The budget may see production-linked incentives getting extended to sectors such as shipping containers and toys, according to Hindustan Times.

Strategies can be finetuned to provide a push to manufacturing activities and employment generation through deepening and widening of output-linked benefits, Yes Bank analysts said.

Budget wishlist for some of the other sectors includes:

  • Extension of long term capital gains tax to immovable property, unlisted shares
  • Compensation to oil retailers for selling fuel below market prices
  • Reduction in taxes on cryptoassets announced in last budget
  • Cut in import taxes on gold to 10% to rein in illegal shipments
  • Increase in defense budget amid border tensions with China
  • Higher capital allocation for banks, more freedom to raise capital

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)



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"India A Bright Spot": IMF Predicts Global Growth To Fall To 2.9%

The International Monetary Fund (IMF) on Tuesday said it is expecting some slowdown in the Indian economy next fiscal year and projected the growth to 6.1 percent from 6.8 percent during the current fiscal ending March 31.

The IMF on Tuesday released the January update of its World Economic Outlook, according to which the global growth is projected to fall from an estimated 3.4 percent in 2022 to 2.9 percent in 2023, then rise to 3.1 percent in 2024.

“Our growth projections actually for India are unchanged from our October Outlook. We have 6.8 percent growth for this current fiscal year, which runs until March, and then we're expecting some slowdown to 6.1 percent in fiscal year 2023. And that is largely driven by external factors,” Pierre-Olivier Gourinchas, Chief Economist and Director, Research Department of the IMF told reporters here.

“Growth in India is set to decline from 6.8 percent in 2022 to 6.1 percent in 2023 before picking up to 6.8 percent in 2024, with resilient domestic demand despite external headwinds,” said the IMF's World Economic Outlook update.

According to the report, growth in emerging and developing Asia is expected to rise in 2023 and 2024 to 5.3 percent and 5.2 percent, respectively, after the deeper-than-expected slowdown in 2022 to 4.3 percent attributable to China's economy.

China's real GDP slowdown in the fourth quarter of 2022 implies a 0.2 percentage point downgrade for 2022 growth to 3.0 percen -- the first time in more than 40 years with China's growth below the global average. Growth in China is projected to rise to 5.2 percent in 2023, reflecting rapidly improving mobility, and to fall to 4.5 percent in 2024 before settling at below 4 percent over the medium term amid declining business dynamism and slow progress on structural reforms.

“Overall, I want to point out that emerging market economies on the whole and developing economies seem to be already on their way up. We have a slight increase in growth for the region from 3.9 percent in 2022 to 4 percent in 2023,” Gourinchas said.

“Another relevant point here is that if we look at both China and India together, they account for about 50 percent of world growth in 2023. So a very significant contribution,” he said.

“I want to say, we had a positive view on India in our October forecast. That positive view is largely unchanged,” Gourinchas said in response to a question.

In a blog post he wrote that India remains a bright spot. Together with China, it will account for half of global growth this year, versus just a 10th for the US and euro area combined, he added.

For advanced economies, the slowdown will be more pronounced, with a decline from 2.7 percent last year to 1.2 percent and 1.4 percent this year and next. Nine out of 10 advanced economies will likely decelerate, Gourinchas said.

The US' growth will slow to 1.4 percent in 2023 as Federal Reserve interest-rate hikes work their way through the economy. Euro area conditions are more challenging despite signs of resilience to the energy crisis, a mild winter, and generous fiscal support, he said.

“With the European Central Bank tightening monetary policy, and a negative terms-of-trade shock — due to the increase in the price of its imported energy — we expect growth to bottom out at 0.7 percent this year,” Gourinchas wrote.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)



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On Shubman Gill's Poor T20I Form, Gambhir's Huge Prithvi Shaw Statement

Labelled by many as the ‘future of Indian batting', Shubman Gill hasn't been able to create the same impact in T20 cricket for India as he has been in ODI cricket. After yet another poor show at the top for the national team, Gill has been given a subtle warning by former India opener Gautam Gambhir who feels the player still ‘hasn't found his feet in T20 format'. Gill was dismissed for just 11 runs off 9 balls, squandering another opportunity to become an important member of the Indian team. 

After the conclusion of the 2nd T20I against New Zealand, Gambhir highlighted how Shubman has struggled against spin bowling. He urged the right-handed batter to improve the skill of handling spinners, especially on turning wickets.

“I feel Shubman Gill has to get better against spin, on a spinning wicket. He had his struggles against Bangladesh as well. Yes, he has been fabulous in the 50-over format, got good wickets to bat on, with 5 fielders inside, But then, you've got to get better when the ball starts spinning, gripping and bouncing as well. He will get tested, not only against seam but spin as well,” Gambhir said on Star Sports. 
 
Gambhir also feels Gill's ‘basic game' suits ODI cricket more than T20 cricket. On the contrary, Prithvi Shaw is a player whose ‘basic game' suits the shortest format more.

“He still hasn't found his feet in T20 format, when it comes to playing international cricket. Sometimes you have to play at a different tempo. His basic game suits 50-over format. Someone like Prithvi Shaw, his basic instinctive game is made for T20 cricket. Shubman Gill is someone whose basic game is made for 50-over format. How quickly he learns and adapts to this format will decide whether he will be able to play all the three formats,” Gambhir asserted.

In the first two T20Is against New Zealand, Shubman has scored just 18 runs cumulatively. In comparison, he had scored over 350 runs in the 3-match ODI series against the same opponents.



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Sunday, 29 January 2023

Adani Enterprises Shares Rise, Other Group Stocks Fall On Hindenburg Impact

Watch: Rahul Dravid's 'Special Message' For Women's T20 U19 WC Winners

Following India's triumph in the ICC Women U19 T20 World Cup, the national men's team congratulated them on their historic title win. Indian bowlers' tremendous bowling performance followed by Gongadi Trisha and Soumya Tiwari's knocks helped India lift the inaugural U19 Women's T20 World Cup title defeating England by seven wickets in the summit clash at Senwes Park in Potchefstroom on Sunday.

Indian head coach Rahul Dravid, previously the head coach of the men's under-19 team, under whose guidance Men in Blue won the 2018 U19 World Cup, noted that the win was a landmark moment for women's cricket.

"Today was a landmark day for the Indian women's U19 team. I would like to pass it on to U19 Men's captain to deliver a message for the girl," said Dravid in a video posted by BCCI.

Following this, he passed on the mic to the 2018 U19 World Cup winning skipper Prithvi Shaw.

"I think it is a great achievement. Congratulations, well done," said Shaw after which the entire team cheered aloud for the women's team in unison.

Chasing a target of 69, India captain Shafali Verma started their world cup winning chase by smashing a beautiful four on Hannah Baker's delivery. Baker then gave her team a big breakthrough as she dismissed Shafali for 15 off 11. England bowlers tried to turn the game back as captain Grace Scrivens removed dangerous batter Shweta Sehrawat for 5 runs of 6 balls.

The right-handed batter Gongadi Trisha then came out to bat. Soumya Tiwari played some aggressive boundaries while Trisha played the anchor role. After 10 overs India needed 21 runs in 60 balls to win. Gongadi Trisha then hammered Ellie Anderson for back-to-back fours.

In the 13th over of the innings, Alexa Stonehouse dismissed Gongadi Trisha for 24 off 29 deliveries. Soumya Tiwari then led Team India to clinch the inaugural U19 Women's T20 World Cup title beating England by seven wickets.

Earlier, opted to field first, Indian bowlers completely dominated the game from the beginning against England in the summit clash. Titas Sadhu provided India with their first wicket of the innings, dismissing England opener Liberty Heap on a two-ball duck.

Grace Scrivens and Niamh Fiona Holland tried to handle the pressure as they played some boundary shots. However, Holland could not stay long on the crease as she was sent back to the pavilion.

After Holland's wicket, England's batters lost their wickets at regular intervals. India set the tone early with the new ball and gave blows to the England Women Under-19 at regular intervals to bundle them for 68.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)



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Sensex, Nifty Suffer Losses In Early Session