20%: The NSE Nifty’s year-on-year rise in the April-June 2020 quarter – the best quarterly showing in at least 11 years. The BSE Sensex saw an impressive jump of 18.5% in the quarter.
- The handsome gains for India’s benchmark indices follow a rather weak March quarter, in which both the Nifty and Sensex had dropped nearly 30% each on an annual basis.
- Supportive action by global central banks boosted investors’ risk appetite, and foreign inflows into Indian equities thereby, even as the coronavirus pandemic hit economies around the world.
- The mid- and small-cap indices logged their best quarterly gains in six years.
- In the previous quarter, the Covid-19 crisis and the lockdowns imposed globally to prevent the spread of the virus had triggered the worst sell-off ever.
- Among other big gainers among major world markets in the June quarter (in US dollar terms) were Thailand (25.9%), Brazil (25%), South Korea (21.8%), and Indonesia (21.4%).
A few links for further reading
Insecure and uncertain in insurance business as Covid-18 damage claims mount
Insurance companies around the world were sailing smoothly, helped by growth in emerging markets and strong capitalisation. Things changed in late February when markets realised that Covid-19’s impact on insurers could be significant. Insurers are yet to know the full impact of the crisis as governments and regulators nudge them to give moratoriums to policyholders and quickly settle claims too. India’s insurance regulator has set strict deadlines for medical insurers to settle Covid-19 claims. General insurers face damage claims from businesses devastated by the national lockdown to contain the disease. Is insurance secured to survive, Joydeep Ghosh explains
There was a time when pay cuts we see today were a complete no-no; govt and public sector jobs were considered safe, as pay and pensions were both assured. Not any longer, it seems, writes T N Ninan
Quick approval, grace period
The COVID-19 pandemic has brought home the significance of health and life insurance like nothing else earlier. Even those who were blasé about these covers in the past are now looking to buy a new policy or want to enhance the sum insured on their existing ones. Meanwhile, the Insurance Regulatory and Development Authority of India (IRDAI) has been issuing a slew of guidelines to health/general and life insurance companies aimed at easing matters for customers.