Equity benchmarks Sensex, Nifty are likely to start on a flat note following trends in the global markets where shares have plunged on fear of coronavirus outbreak. Sensex had jumped 226 points to close at 41,613, while Nifty 50 index reached the closing bells at 12,248, up 68 points or 0.56 per cent on Friday. Ultratech Cement had finished on the top of the pile on the Sensex pack cementing gains after the Q3 results showed phenomenal growth.
Nobel laureate and economist Abhijit Banerjee has said that the banking sector in the country is “stressed” and the government is in no position to bail it out. He spoke at length on the issue pegging back the Indian economy on the sidelines of the 13th Jaipur Literature Festival. He raised concerns about the adverse impact of slowdown on the poverty alleviation schemes in the country as urban and rural sectors are interdependent. He also raised the issue of data being not credible enough making foreign investors ‘nervous’ on the prospects of investment in India.
Source: Financial Express
