Mumbai, July 13: The Indian markets after a 500 points rally erased some of the intraday gains but ended higher on Monday. The Sensex ended 99 points up at 36,693. Nse Nifty, on the other hand, settled at 10,802. The markets managed to stay in the green, helped by gains in IT, FMCG, metal and energy stocks.
Shares rose in Asia on Monday, cheered by expected upbeat projections for a global economic rebound that were tempered by worries over expanding coronavirus outbreaks.
On the other hand, the number of coronavirus cases continues to rise and is an area of great concern in India. The country recorded its highest single-day spike of 28,701 new coronaviruses (COVID-19) cases and 500 deaths in the last 24 hours, pushing the total tally to close to 9 lakh with a total of 23,174 deaths, the Ministry of Health and Family Welfare said on Monday. India Sees Highest Single-Day Spike of 28,701 COVID-19 Cases, Coronavirus Tally Inches Closer to 9 Lakh.
Britain will suffer the sharpest peak-to-trough economic slump of any major economy this year, rating agency Moody's has warned, and ramp up national debt as a share of GDP by nearly a quarter. Moody's said the UK government's latest 30 billion pound ($37.9 billion) stimulus package, announced the previous week, would aid a gradual economic recovery but add further pressure to the fiscal position.
(The above story first appeared on LatestLY on Jul 13, 2020 04:06 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).