Business Today
Loading...

Biz EOD: Yin & Yang of economic recovery; exports lose momentum; Sensex reclaims 40K mark

Catch top stories from the world of business and economy with BusinessToday.In's Biz EOD report

twitter-logoBusinessToday.In | November 4, 2020 | Updated 00:08 IST
Biz EOD: Yin & Yang of economic recovery; exports lose momentum; Sensex reclaims 40K mark
Top stories from the world of business and economy

India's eagerly awaited economic recovery appears to be finally playing out amidst a slew of contradictions. India's merchandise exports fell 5.4 per cent to $24.82 billion in October 2020, from $26.23 billion registered in October 2019. Sensex ended 503 points higher at 40,261 and Nifty rose 144 points to 11,813. Read for more top stories from the world of business and economy:

1. Tweedledum and Tweedledee of economic recovery; Where it's working - where it's not

This is an economy of contradictions: Micro economy is seeing signs of life while macro-economy is in cold storage; stock markets divorced from the shrinking real economy; rural India is doing way better than urban India.

2. No revision in bank deposit, withdrawal charges for now, but premium expected in future

So far as Regular Savings accounts, Current Accounts, Cash credit accounts & Overdraft accounts, the charges will not be revised upwards in the "near future".

3. Exports lose momentum in October, dip 5.4% after growth in September

India was a net importer in October, with a trade deficit of $8.78 billion. It may be seen as an improvement as trade deficit was higher at $11.76 billion during the same time last year, but that's hardly a solace.

4. SBI Cards & Payments rushes to hunt for funds to fight COVID-19 NPAs

So far, the promoter SBI has committed the highest amount of Rs 13,000 crore followed by Central Bank of India, Punjab National Bank, HSBC, Bank of Baroda and Sumitomo Mitsui Banking Corporation.

5. Sensex reclaims 40K mark, Nifty ends above 11,800: Five factors behind the rally

Banking, finance sectors stocks were in heavy demand today after the Supreme Court said it would hear the loan moratorium on Nov 5, which many believe will be in the favour of banks.

Youtube
  • Print

  • COMMENT
BT-Story-Page-B.gif
A    A   A
close