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Top News of Oct 6: Coal production picking up pace; India-US discuss Afghanistan, China and more

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Here are the top news from the world of business, economics, national and international politics and more, handcrafted for you by the CNBC-TV18.com team.

Top News of Oct 6: Coal production picking up pace; India-US discuss Afghanistan, China and more
Department of Telecom (DoT) has allowed a 100 percent foreign direct investment in the telecom sector under the automatic route. The government has been stepping up efforts to deal with the coal shortage.S Deputy Secretary of State Wendy Sherman and Foreign Secretary Harsh Vardhan Shringla on Wednesday held extensive talks covering the situation in Afghanistan, cooperation under Quad framework and a range of other issues. For all these stories and everything in between, here are some top news of the day
MARKETS
Sensex, Nifty slide 1 percent; PSU Bank, metal stocks drag
Sensex and Nifty, the Indian equity benchmark indices declined almost a percent Wednesday tracking negative cues from global markets, despite making a positive opening. The 30-scrip Sensex closed at 555 points lower at 59,189, and the Nifty50 index plunged 176 points to end at 17,646. The broader markets also slipped as both mid-caps and small-caps slumped nearly 1 percent. Dig deeper
Rally in PSU energy stocks defies logic, no fundamental change: Kotak Institutional Equities 
State-run energy stocks have been on a roll in the recent past, with stocks such as Coal India, Oil India, ONGC and NTPC giving returns to the tune of 24-35 percent in the past month alone. But Kotak Institutional Securities say there is no fundamental change for regulated utilities and downstream oil firms. Dig deeper
The ‘chips’ may be down, but fund managers are seeing value in auto stocks
The automobile sector has been making headlines for all the wrong reasons over the last couple of months, but that has not stopped money managers from nibbling at them of late. Continue Reading

ECONOMY/BUSINESS
Hikes galore: Petrol, Diesel, LNG, PNG, CNG prices raised
Prices were raised all across the board Wednesday as an energy crunch has gripped the markets. The oil marketing companies hiked petrol prices by 30 paise and diesel prices by 37 paise. Read more
Mahanagar Gas also hiked the prices of compressed natural gas (CNG) and piped natural gas (PNG) by Rs 2 in Mumbai region. Read more
Domestic LPG cylinder prices were hiked by Rs 15 per cylinder. In Delhi, a cylinder now costs Rs 899.59. Read more
DoT issues information allowing 100% FDI in telecom sector
Department of Telecom (DoT) has allowed a 100 percent foreign direct investment in the telecom sector under the automatic route. Read more
Despite additional measures, India's exporters continue to reel under container shortage
Despite additional measures taken by the world’s shipping lines to help India's economic recovery, container shortage continues to haunt exporters. Though not as much as it would have in the absence of the additional measures. Continue Reading

INTERNATIONAL
Oil hits multi-year high on OPEC+ restraint amid global energy crunch
Oil hit a multi-year high on Wednesday above USD 83 a barrel, supported by OPEC+'s refusal to ramp up production more rapidly against a backdrop of concern about tight energy supply globally. Continue Reading
Scientists Benjamin List and MacMillan win Chemistry Nobel prize
German Benjamin List and Scottish-born David MacMillan won the 2021 Nobel Prize in Chemistry on Wednesday for developing new tools for building molecules that have helped make new drugs and are more environmentally friendly. Continue Reading
Airlines warn erratic global COVID-19 rules could delay recovery
Global airlines on Tuesday wrapped up their first meeting since COVID-19 brought their industry to its knees, voicing optimism about pent-up demand but desperate for governments to harmonize disjointed border rules to avoid slipping back into recession. Continue Reading
INDIA
Will challenge China when it undermines interests of US, its allies, says Sherman after meeting Shringla
US Deputy Secretary of State Wendy Sherman and Foreign Secretary Harsh Vardhan Shringla on Wednesday held extensive talks covering the situation in Afghanistan, cooperation under the Quad framework and a range of other issues. Sherman arrived on Tuesday on a three-day visit, nearly two weeks after Prime Minister Narendra Modi held talks with US President Joe Biden in Washington. Read more
India's coal production picking up pace, crisis starting to ease, says Power Minister RK Singh'
Coal inventories at power plants at an all-time low have been making headlines for the past few days. On average, power plants have gone for about 13 days and coal is now left for about four days. The government, however, has been stepping up efforts to deal with the coal shortage. Continue Reading
Using ethanol as fuel can undermine India's food security, here's how
India is aiming to achieve blending 20 percent of its fuel with ethanol by 2025 as part of its effort for cleaner energy. The ethanol will be produced by processing sugar. It is estimated that 10 billion litres of ethanol will be required by 2025 to achieve 20 percent blending ratios, triple the current output of ethanol. Continue Reading
Lakhimpur violence:  UP CM Adityanath briefs PM Modi on situation
Despite additional measures taken by the world’s shipping lines to help India's economic recovery, container shortage continues to haunt exporters. Though not as much as it would have in the absence of the additional measures. Continue Reading

YOU & I
Technical stock picks: Experts suggest these stocks for short-term gains
Indian share market might have taken a breather, for now, your investments don't have to. Here are seven stocks that experts have recommended for near-term gains.
Festival stock picks: Bet on these stocks this upcoming festive season for handsome gains

As we approach the festive season, Axis Securities have curated a list of stocks that can augur well in the short and medium term. From Hindustan Unilever to Safari Industries, here are the stock picks for this festive season.

NPS vs SIP: Which is a better investment plan?
The National Pension Scheme and Systematic Investment Plan (SIP) are two widely preferred modes among individuals for building a corpus of retirement funds. While NPS is a social security initiative introduced by the central government, SIP allows individuals to invest a small and fixed amount of money at regular intervals in mutual funds. Continue Reading
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