"We have entered recession" said IMF chief on Friday. After 2008-2009, the world is into another recession and it is going to be worst than previous. The global economy is badly affected by Covid-19 pandemic. IMF estimated economy recovery would be in a year's time. But I feel we can think of such estimates only after we find a solution for Corona.
The United States of America turned out to be the most affected country after China and Italy with thousands of positive corona cases every day. After USA and europian countries, the Indian government announced a locked out period for 21 days to fight against corona virus.
The major section of the Indian population including daily wage workers, street shop vendors and farmers will be heavily affected by this lockdown. Though the government announced 1.7 Lakhs Crore worth package for the affected people, I doubt whether that would be sufficient.
This is going to be a tough time for the Indians since many factories, offices, malls, and shops are closed for the lockdown period. It will affect the production, transportation, and consumption of products which will lead to financial loss for people, companies and governments.
Last week Nifty 50 crashed to 7500 range and recovered back to 8660. Maruti Suzuki stocks fell down to ₹4645 (-234) on Friday dragging the Auto Nifty to lower levels. Most of the auto stocks look so cheaper now. With Corona around, not sure when they will bounce back.
The United States of America turned out to be the most affected country after China and Italy with thousands of positive corona cases every day. After USA and europian countries, the Indian government announced a locked out period for 21 days to fight against corona virus.
The major section of the Indian population including daily wage workers, street shop vendors and farmers will be heavily affected by this lockdown. Though the government announced 1.7 Lakhs Crore worth package for the affected people, I doubt whether that would be sufficient.
This is going to be a tough time for the Indians since many factories, offices, malls, and shops are closed for the lockdown period. It will affect the production, transportation, and consumption of products which will lead to financial loss for people, companies and governments.
Last week Nifty 50 crashed to 7500 range and recovered back to 8660. Maruti Suzuki stocks fell down to ₹4645 (-234) on Friday dragging the Auto Nifty to lower levels. Most of the auto stocks look so cheaper now. With Corona around, not sure when they will bounce back.
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