Weekly recap: Markets witness rally; Nifty ends with weekly gains of more than 5%

Let us take a glimpse into what happened in markets over this week.

May 31, 2020 08:05 IST India Infoline News Service

Businessman showing growing charts
Indian markets witnessed a rally during the week as headline indices closed significantly higher after three losing streaks in the previous weeks. The Nifty ended with a weekly gain of 5.85%, whereas Bank Nifty has ended 11.68% higher.

​The rating agency Care Rating expects India’s GDP may come at 3.6% for the January – March quarter due to lower economic activities.

According the studies of India Metrological Department (IMD), Monsoon rains to hit the Southern coast of India around June 1st.

India’s manufacturing IIP has declined by 50-60% in April as reduced economic activities led to severe fall in factory output with chance of recovery towards -30 to -35% in May is expected.

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