Pre-budget Jitters
Comparison of indices – closing 24th January 20 vs 17th January 20
Nifty50 slid 0.8% from last Friday’s closing. Midcap gained 1.6% and Smallcap gained 1.0%. Amongst sectoral and thematic indices, Realty +1.8%, Infra +0.8% made gains. PSE -2.1% and Auto -1.8% closed weaker.
Market Updates:
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GST return filing in staggered manner – In view of difficulties faced in filing of GST returns, the government has introduced several measures to ease the process. As per the Finance Ministry notification, now GST taxpayers can file their GSTR-3B returns in a staggered manner.
- FMCG to grow at 10-11% in FY21: Crisil – Crisil report states that Rs 4-lakh crore FMCG industry is likely to grow at 9% in FY20, down 4%. However, it said an expected recovery in rural demand, coupled with steady urban demand, is set to lift revenue growth of the FMCG industry to 10-11% in FY21.
- Passenger Vehicle exports increases by 5.89% – SIAM report states that Passenger vehicle (PV) exports increased by 5.89% to 5,40,384 units in the first nine months (April-December) of FY20 as compared to 5,10,305 units in the same period of FY19.
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