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Monday, June 1, 2020

Lockdown, Day 69: Unlock 1.0 unleashes the bulls

CORONAVIRUS UPDATES

1 Jun, 2020 | 05:42 PM IST


Lockdown, Day 69: Unlock 1.0 unleashes the bulls

Dalal Street was full of zest today as India set in motion Unlock 1.0 after more than two months of crippling nationwide curb.

Meanwhile, there appeared to be a growing consensus that India's budget deficit could touch its widest levels since 1991.

In other news, a debate has started over the speculation that epidemiologists may not have been properly consulted before imposing the drastic lockdown upon the country.

Here are the other top news of the day...



COUNT SO FAR
    51 new cases in Noida
    Indore tally rises to 3,539
    Five new cases in Chhattisgarh
    45 new cases in Assam, tally 1384
    NITI Aayog official tests positive
    7 new cases in Manipur, total reaches 78
    105 new cases in AP; tally goes up to 3,674
    25 new cases in Jharkhand, tally reaches 635
    Odisha reports 156 new cases, tally reaches 2104
    93 more Maharashtra Police personnel test positive
    4 fresh cases reported in Puducherry, tally rises to 49

World India
Tally Toll Tally Toll
61,52,160 3,71,700
1,90,535 5,394

LIFE UNDER LOCKDOWN
    Delhi's borders to be sealed for a week
    DGCA: Keep middle seats vacant to extent possible
    AP not to unlock borders for inter-state movement
    No Dabur, Nestle at CAPF canteens in swadeshi push
    Railways' first isolation coach deployed in Delhi
    Barbershops, salons to open in Delhi, spas to remain shut
    Punjab imposes Covid Cess on liquor
    UP extends timings for liquor shops from 10 am to 9 pm

BUSINESS AND ECONOMY
    MakeMyTrip lays off 350 employees
    India's factory slump deepens in May
    Hyundai sales decline 79 per cent in May
    India's May jobless rate at 23.48%, says CMIE
    Sensex soars 879.42 points to end at 33,303.52
    Petrol sales down 36.5%, diesel down 31% in May
    Auto sector capex falls a staggering 18% in FY20
    Power consumption dips 14% in May due to lockdown
    Mahindra sales dip 79% in May, exports fall 80 pc
    Retail credit drops to record low during lockdown
    Covid to shave $25 bn off from top 100 brands' value
    ATF price up by 50%, LPG cylinder to cost Rs 11.5 more
    Cabinet approves Rs 50K crore equity infusion for MSMEs
    New MSME definition pegs medium firms at turnover of Rs 250 cr

AROUND THE WORLD
    Indonesia reports 467 new infections
    Russia reports 9,035 new infections
    Pakistan reports 2,964 new cases
    Singapore reports 408 new cases
    World Bank: Palestinian economy could shrink by 11%
    Russian Covid drug to be delivered to hospitals in June
    Greece lifts its lockdown on hotels, pools, golf courses

DEBATE THIS
    India should forget catching up with China in growth. Agree? Tell us HERE


Budget target breach signals more blowout this year

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THE ECONOMIC TIMESDaily Newsletter
Mon, Jun 01, 2020 | 05:21 PM IST
#Coronavirus#EconomyTracker#Whatsbuzzing
Top stories of the day
India's budget target breach signals further blowout this year India's budget target breach signals further blowout this year
The deterioration in government's finances follows a protracted period of economic slowdown that hurt revenue collect...
Cabinet Decisions: Turnover limits for MSMEs raised, Kisan Credit card for farmers
India's May jobless rate at 23.48%, says private think-tank CMIE
Manufacturing activity shrinks again in May, PMI at 30.8
Auto industry capex falls by a staggering Rs 26,000 crore in FY20
Petrol sales down 36.5%, diesel down 31% in May; improves from April
No Dabur, Nestle at CAPF canteens in swadeshi push
Hyundai sales decline 79 per cent in May
Debate This
India should forget catching up with China in growth. Agree?
The GDP numbers for both Q4 and full-year FY20 are out. Although Q4 saved India the blushes by beating most forecasts, it could not save FY20 from becoming the worst year in eight. Considering the fact that the lockdown affected only seven days of Q4, the omens appear even more awful for Q1 of FY21, the better part of which has already gone to waste. So, bye bye, double-digit growth dream?

Top Gainers

NSE
34 companies (largecap) appreciated more than 5%
IDBI Bank 19.85%
Piramal Ent. 14.85%
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Top Losers

NSE
1 company (largecap) price decreased more than -3%
The New India Assurance Company Ltd. -3.15%
More from Losers
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COVID-19 is creating a new online user
Bulls hit the ground running after India decides to unlock a bit Bulls hit the ground running after India decides to unlock a bit
In the 30-share pack Sensex, all shares were trading with gains....
Lockdown extension to have deep impact on economy
Retail credit drops to record low during lockdown: SBI economists
Power consumption dips 14% to 103 BU in May
Russian drug to treat Covid to be delivered to hospitals in June
Maruti Suzuki sells 13,865 units in the local market in May
Rich world's jobs crisis jolts money flows to millions
Digital payment volumes on NPCI channels rebound in May
Partnership models in consultancies, law firms face test
MakeMyTrip lays off 350 employees
AGC Networks to acquire Fujisoft to enhance presence in MEA region
More From our Partners
Vu Televisions continues to serve customers throughout the lockdown - successfully handles over 10000 customer issues

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