Good Recovery
Comparison of indices – closing 7th Feburary 20 vs 31st January 20
Nifty50 recovered well to close 1.0% over last Friday’s closing. Midcap gained 1.9% and Smallcap gained 0.2%. Amongst sectoral and thematic indices, Metail gained 5.1%, MNC was up 3.2%. Realty (-3.0%) and Auto (-0.4%) closed weaker
Economy updates
Repo rate unchanged at 5.15% – RBI kept the policy repo rate unchanged at 5.15% and reverse repo rate unchanged at 4.90% in its sixth Bi-monthly Monetary Policy, 2019-20.
Slower growth in domestic passenger traffic – The International Air Transport Association (IATA) has said that the Indian domestic passenger traffic rose by just 5.1%, down from 18.9% in 2018. It stated that 2019 was challenging for air travel in the domestic India market after four years of double-digit growth.
Services sector growth accelerates – Indian service sector growth estimated through seasonally adjusted Nikkei Services Business Activity Index surged to 55.5 in January from 53.3 in December, on the back of fastest increase in new orders and output. Further, the Nikkei India Composite PMI Output Index – which measures both manufacturing and services – also rose from 53.7 in December to 56.3 in January.
Recent Comments