In June 2020, Domestic market moved positively with benchmark Sensex and Nifty Index ending the month with 7.7% and 7.5%gains respectively. During the June month, markets witnessed huge volatility, but eventually, almost all sectoral indices closed in green after the government announced relaxations in Unlock 1.0 and there are many indicators which have bounced off lows whether be it electricity consumption, E-way bill, GST collections, traffic at ports, railway freight, retail payments and even cash in circulation has come down.
Market looked cautious on the prospect of fresh trade tensions between the US and Europe and an uptick in COVID-19 cases around the world and worsening economic damage. Even the International Monetary Fund’s has downgraded global economic projections and this shook the confidence of the investors. Fed has estimated that the economy will shrink 6.5% this year, in line with other forecasts, before expanding 5 per cent in 2021. The Fed also projects the unemployment rate to fall to 9.3% by year-end from 13.3% in May. Recent data showed that GDP in the euro area contracted by 3.6% compared to the previous quarter.
In This Issue:
- Market Outlook
- Auto Sector June Sales
- Fundamental Stocks
- Mutual Fund
- Key Financial Events – July 2020
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