Up and Down ... Again
Comparison of indices – closing 7th June 2019 and 14th June 2019.
Indices continue to weaken during the week after showing signs of uptick
Nifty lost early gains during the initial days of the week to close in red again this week. Most key indices lost ground, apart from FMCG (managing to hold on to last week’s level) and IT (gained 1%).
Market Updates:
- RBI recently issued a prudential framework for resolution of stressed assets, which give lenders 30 days to review a borrower account before labelling it as a non-performing asset (NPA) in case of default. This framework replaces the earlier circular which mandated lenders to start resolution even if there was one day default
- ICRA in its latest report has said that the IT services sector in India is likely to grow by 6-8 percent in US dollar terms during 2019-20 (FY20)
- After hitting 21-month low in March, India’s industrial production measured by Index of Industrial Production (IIP) accelerated to a six-month high of 3.4% in April mainly on account of improvement in mining and power generation.
- UNCTAD report: FDI to India surged by 6% to $42 billion in 2018, with strong inflows in the manufacturing, communication and financial services sectors
Top Performing Mutual Fund category this week (non-debt):
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