On Wings of Hope
Comparison of indices – closing 29th May 2020 vs 22nd May 2020
Last week: NIFTY50 6.0%, Midcap 4.8%, Smallcap 3.9%,
Sectoral: BANK 11.7%, REALTY 10.1%, METAL 9.9%, AUTO 7.8%
Indian economy to contract 5%: S&P
S&P Global Ratings has lowered its growth forecast and expects Indian economy to contract 5% in the current fiscal year (FY21) as the lockdown imposed to contain COVID-19 pandemic has curtailed economic activity severely.
Speedy implementation of stimulus package needed: Ind-Ra
Indian Rating and Research has expressed a need for speedy implementation of recent measures announced by the government for NBFCs to provide maximum benefit to MSMEs. Government has announced fully guaranteed Rs 30,000 crore special liquidity scheme to incentivise banks to take exposure in the lower rated investment grade non-banking financial companies (NBFCs).
FDI inflow rises sharply in 2019-20: DPIIT
FDI in India rose by 13% – steepest since 2015-16 – to a record of $49.97 billion in the financial year 2019-20 (FY20). Foreign fund inflows during April- March 2018-19 stood at $44.36 billion.
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