Nifty 50 continues higher for the fourth consecutive session making fresh six week highs as the rebound from the coronavirus sell-off is intact. Asian markets closed mostly higher with Sensex the outperformer as it finished 1.89% higher at 32,720 taking it’s weekly advance to 4.5%.
Investors mood has improved after the coordinated actions from central banks and governments across the globe.
India is still under strict lockdown, but the gradual opening of some businesses in the USA and Europe also helps risky assets. India has reported 31,332 confirmed coronavirus cases while the death toll rises to 1,007.
India’s stock markets also expecting the Indian government to deliver a long-awaited relief package to support the coronavirus battered economy.
Moody’s rating agency yesterday cut India’s growth forecast for 2020 to 0.2% from 2.5% projected in March. Moody’s expect a 6.2% growth in 2021.