Asian stock markets were trading mixed on Tuesday, Japan’s Nikkei 225 gained 0.11 per cent while the Topix index was up 0.17 per cent. Image: ReutersShare Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were eyeing a positive start on Tuesday, as suggested by trends on SGX Nifty in early trade. In the previous session, the 30-share Sensex surged to an over 3-month high and ended at 51,937. While Nifty made a record high of 15,582.80. Markets will react to the GDP numbers released on Monday for the January-March quarter of FY21. Asian stock markets were trading mixed on Tuesday, Japan’s Nikkei 225 gained 0.11 per cent while the Topix index was up 0.17 per cent. South Korea’s Kospi edged jumped over half a per cent higher. In overnight trade on Wall Street, US stocks edged higher. The S&P500 index rose 0.1 per cent, the Dow Jones Industrial Average gained 0.2 per cent, and the Nasdaq Composite was up 0.1 per cent.
India’s gross domestic product (GDP) shrank 7.3 per cent in 2020-21, the sharpest drop in recorded history, according to data released by National Statistical Office (NSO) on Monday. While GDP for the year’s last quarter (January-March 2021) grew by 1.6 per cent. India has now reported two consecutive quarters of GDP expansion, after having witnessed two consecutive quarters of contraction earlier in the financial year when India entered a technical recession.
Highlights
In overnight trade on Wall Street, US stocks edged higher. The S&P500 index rose 0.1 per cent, the Dow Jones Industrial Average gained 0.2 per cent, and the Nasdaq Composite was up 0.1 per cent.
Asian stock markets were trading mixed on Tuesday, Japan’s Nikkei 225 gained 0.11 per cent while the Topix index was up 0.17 per cent. South Korea’s Kospi edged jumped over half a per cent higher.
The fiscal deficit stood at 9.3 per cent of the Gross Domestic Product (GDP) in the last fiscal, better than 9.5 per cent projected in the revised estimates in the Union Budget in February. Economic activities were severely hit in the last financial year due to the coronavirus pandemic as well as subsequent lockdowns and restrictions to curb the spread of infections.
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In April 2021, the eight core sectors registered a double-digit output growth of 56.1% compared with 11.4% growth in March 2021. The high growth in output can be attributed to a low base effect (-37.9% in April 2020) as the nation-wide lockdown imposed last year brought production activities to a standstill resulting in huge output losses. The expansion in April has been led by an exponential growth in output of steel and cement. All sectors except crude oil have witnessed positive growth during the month. However, the core sector output has been lower by 15.1% in April’21 over the March’21 level with a broad-based contraction across all segments on a month-on-month basis. CARE Ratings
India’s gross domestic product (GDP) shrank 7.3% in 2020-21, the sharpest drop in recorded history, with the pandemic dealing a body blow to most sectors of the economy that was already debilitated, according to data released by National Statistical Office (NSO) on Monday. The contraction was, however, narrower than the 8% forecast in the second advance estimate put out in late February, primarily because the March quarter turned in significantly better numbers, on the back of rather board-based upswing across sectors including manufacturing, construction and electricity.
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India’s economic report card came in with better-than-expected numbers as the GDP recorded a 1.6% growth in the January-March period. The growth figures were better than the 1% median forecast by 29 economists polled by Reuters. For the full financial year 2020-21, the economic contraction came in at -7.3%, better than the government’s own -8% estimates. The agriculture sector continued to grow steadily in the quarter, while construction, electricity and other utilities posted strong growth.
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