India registers trade surplus
Markets have extended their gains for the 5th straight week, and it seems like there’s no looking back at the carnage that Covid-19 has caused to the economy – at least that’s the sense markets are currently giving out. That said, we’ll get to the weekly market highlights in a bit, but before that, we have an interesting question for you – but you have to promise not to cheat! 😏
Matter of Fact
This particular company is India’s largest exporter, accounting for 8% of India’s total merchandise exports. It is responsible for almost 5% of the government of India’s total revenues from customs and excise duty and is India’s highest income tax payer in the private sector. Which company do you think it is?
Yes yes, it’s the same company that’s been making headlines almost everyday for the past couple of days. Reliance Industries!
Benchmark indices ended the week in green.
The Big Picture
- Wholesale prices are prices charged for products sold in bulk to traders/distributors. Wholesale prices declines by 1.81% in June as compared to the same period last year.
- Consumer prices are prices charged for goods and services to general consumers like you and me. Consumer prices increased by 6.09% in June as compared to the same period last year.
- Trade surplus is when a country’s exports exceeds its imports. India posted a $0.79 billion trade surplus in June 2020 – the first time a surplus has been recorded since 2002. The surplus was because imports tumbled much more than exports amid subdued demand due to the coronavirus crisis.
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Through The Looking Glass
Investing during Covid-19
Financial markets are dynamic and complex. The advent of the novel coronavirus has added on to the complexity, with the future being more uncertain than ever. Times like these are stressful, but for an investor, it could be full of opportunities.
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