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RBI gives liquidity access to Mutual Funds

RBI gives liquidity access to Mutual Funds
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Markets Update

  • Announcement of a special liquidity window for mutual funds coupled with positive sentiment from Axis Bank-Max Financial deal pushed markets up this week
  • Sensex closed up 7.6% at 33717.62 and Nifty50 gained 7.7% closing at 9859.9. The Nifty 500 also gained 6.9% during the week

Other Updates

  • India’s Infrastructure Output shrank 6.5% from a year earlier in March 2020, the steepest pace of contraction since the series began in 2005.  The output had grown by 7.1% during the previous month
  • Last week Moody’s Investors Service slashed India growth forecast for calendar year 2020 to 0.2%, from 2.5% projected in March. For 2021, the rating agency expects India’s growth to rebound to 6.2%

Matter of Fact

In the 20th century, the United States endured 2 world wars and other traumatic + expensive military conflicts, a dozen financial crises – the worst of which was the Great Depression of 1932, oil shocks, a flu epidemic, and the resignation of a disgraced president – Richard Nixon. Yet the Dow Jones Industrial Average rose from 66 to 11,497.

Through The Looking Glass

Through the Looking Glass is a multi-part series that will explore trending topics in business + finance, the impact of COVID-19 on the economy, and other relevant topics to help you see beyond the news. The series will feature insights from industry leaders, experts, and our editorial team.

In Part 2 of this series, Siddhartha Rastogi, Managing Director at Ambit Capital Asset Management, explores the New Normal for Business, Economies and Life, during and after this pandemic. Read the full post here.

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RBI gives liquidity access to Mutual Funds
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