Trade Nivesh | Moody's Investors Service has cut India’s 2020 Gross Domestic Product (GDP) growth forecast to 5.4 percent from 6.6 percent.
For the second consecutive week, the benchmark indices ended flat in the truncated week ended February 20, with no major domestic or global cues. But, Moody’s was one big factor that fuelled uncertainty on the D-Street.
The market remained under pressure for the first two days of the week but rebound sharply on Wednesday, while ended on a flat note in Thursday's trading session, helping Nifty50 to close the week above 12,100 mark.
The Indian stock exchanges remained shut on February 21 on account of Mahashivratri.
"Pandemic issue in China is under control, implying that the impact to the economy won’t be that big as expected initially. Investors will focus on Trump-Modi meeting due next week, even though no trade deal is expected, commentary towards opening trade in the future will be watched," said Vinod Nair, Head of Research at Geojit Financial Services.
Moody's Investors Service has cut India’s 2020 Gross Domestic Product (GDP) growth forecast to 5.4 percent from 6.6 percent.
At the same time, it has cut the 2021 GDP growth forecast to 5.8 percent from 6.7 percent. Weakness across global economy due to the impact of the novel coronavirus outbreak could hurt India’s recovery, Moody's said.
However, the world markets inched higher on hopes of further policy stimulus from China to counteract the economic hit from coronavirus, calming nervous investors.
The Sensex was down 87.62 points (0.21 percent) to end at 41,170.12 in the last week; the Nifty fell 32.55 points (0.26 percent) to end at 12,080.9.
Domestic Institutional Investors (DIIs) sold equities worth of Rs 699.62 crore, while foreign institutional investors (FIIs) bought Rs 1,495.25 crore.
For the week, the rupee ended marginally lower at 71.64 on February 20 against the February 14 closing of 71.36.
Nifty midcap index gained 1 percent while Nifty Bank added 0.3 percent this week.
For the second consecutive week, the benchmark indices ended flat in the truncated week ended February 20, with no major domestic or global cues. But, Moody’s was one big factor that fuelled uncertainty on the D-Street.
The market remained under pressure for the first two days of the week but rebound sharply on Wednesday, while ended on a flat note in Thursday's trading session, helping Nifty50 to close the week above 12,100 mark.
The Indian stock exchanges remained shut on February 21 on account of Mahashivratri.
"Pandemic issue in China is under control, implying that the impact to the economy won’t be that big as expected initially. Investors will focus on Trump-Modi meeting due next week, even though no trade deal is expected, commentary towards opening trade in the future will be watched," said Vinod Nair, Head of Research at Geojit Financial Services.
Moody's Investors Service has cut India’s 2020 Gross Domestic Product (GDP) growth forecast to 5.4 percent from 6.6 percent.
At the same time, it has cut the 2021 GDP growth forecast to 5.8 percent from 6.7 percent. Weakness across global economy due to the impact of the novel coronavirus outbreak could hurt India’s recovery, Moody's said.
However, the world markets inched higher on hopes of further policy stimulus from China to counteract the economic hit from coronavirus, calming nervous investors.
The Sensex was down 87.62 points (0.21 percent) to end at 41,170.12 in the last week; the Nifty fell 32.55 points (0.26 percent) to end at 12,080.9.
Domestic Institutional Investors (DIIs) sold equities worth of Rs 699.62 crore, while foreign institutional investors (FIIs) bought Rs 1,495.25 crore.
For the week, the rupee ended marginally lower at 71.64 on February 20 against the February 14 closing of 71.36.
Nifty midcap index gained 1 percent while Nifty Bank added 0.3 percent this week.
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