News I read on 1st July

1) Despite COVID-19 severely hampering economic activity in the last three months, the April-June period saw the Indian stock markets clock their best quarterly gains since the September quarter of 2009.
Ref: Livemint

2) India’s eight infrastructure sectors contracted sharply for the third month in a row in May, though lower than the record dip in April.
Ref: Livemint

3) India’s federal fiscal deficit in the first two months through May has reached 4.66 trillion rupees or 58.6% of the budgeted target for the current fiscal year.
Ref: Reuters

4) The Union government will notify the recently-promulgated Ordinance to give more teeth to the Reserve Bank of India (RBI) over co-operative banks in a phased manner.
Ref: Business Standard

5) Fitch Ratings on Tuesday cut India's growth forecast for 2021-22 fiscal to 8 percent from 9.5 percent projected last month while retaining projection of current year contraction by 5%.
Ref: Business Standard

6) India’s current account turned positive in the last quarter of the 2019/20 fiscal year recording its first quarterly surplus in 13 years.
Ref: Reuters

7) Amid reports of the RBI mulling restructuring of loans, global rating agency S&P on Tuesday said that a loan recast will only defer NPAs recognition and not solve the problem.
Ref: Business Standard

8) A stock rebound marked by Wall Street’s strongest quarter in more than two decades has slowed in recent weeks, as a resurgence in coronavirus cases threatens to derail the economy’s recovery from a deep downturn.
Ref: Reuters

9) India’s infrastructure output contracted 23.4% in May from a year earlier, dragged down by more than two months of coronavirus lockdown.
Ref: Reuters

On Tuesday, NIFTY closed 10.30 Points lower at 10,302.10.

VIX rose by 0.69% and closed at 29.11, the usual safe range for VIX is between 12 to 20.

SGX Nifty trading 23.50 points lower at 08:00 am, Indian Time.