Markets on a Slippery Slope
Markets Update
- As coronavirus shows no signs of abating, the Indian markets have continued their downward trend
- On a weekly basis, the S&P BSE Sensex lost 7.46%, closing at 27590.95, while the Nifty50 slipped 6.66% to end at 8083.8. In the broader market, Nifty 500 dropped down 5.2%
- India’s fiscal deficit widened sharply to a record high of INR 10.36 trillion in April-February 2019-20 from INR 8.51 trillion in the corresponding period of the previous fiscal year. This was equivalent to 135.2% of the government’s budget estimate for this financial year
- Infrastructure output in India increased 5.5% year-on-year in February of 2020 compared to market forecasts of a 5.7% rise
- India Manufacturing PMI declined to a four-month low of 51.8 in March 2020 from 54.5 in the previous month
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