SENSEX
NIFTY 50
Hang Seng
Taiwan Weighted
MCX GOLD APR 03
MCX SILVER MAR 05
USD/INR
EUR/INR80.0630

SENSEX
NIFTY 50
NIFTY MIDCAP 100
S&P BSE MIDCAP
Hang Seng
Taiwan Weighted
DAX
Nasdaq
MCX GOLD APR 03
MCX SILVER MAR 05
MCX CRUDEOIL MAR 19
MCX NATURALGAS MAR 26
USD/INR
EUR/INR
GBP/INR
JPY/INR

Closing Bell: Sensex, Nifty end lower for 4th session as coronavirus-led global selloff continues

Asian stocks, Treasury yields fall as pandemic fears intensify

Oil rises on short-covering despite growing fears over coronavirus

Rupee opens higher at 71.85 against dollar

Economy

India's GDP growth likely to slip below 5 percent in Q2

Updated : November 13, 2019 07:44 AM IST

GDP data for July-September is due on November 29

Recently, Nomura massively cut its GDP forecast to a low 4.9 percent for the year

India's gross domestic product (GDP) growth may not see an uptick in the second quarter of the fiscal year 2020 and may further slip below 5 percent recorded in the first quarter, government sources told CNBC-TV18.

The government will release Q2FY20 GDP data on November 29.

The development comes days after international rating agency Moody's Investor Services and global brokerage Nomura downgraded India's GDP growth forecast, owing to a severe slowdown in the economic activities.

Moreover, India's industrial production shrank by 4.3 percent in September, registering the weakest performance in seven years due to output decline in manufacturing, mining and electricity sectors.

SBI Research on Monday slashed the nation's FY20 growth forecast to 5 percent from 6.1 percent earlier on the back of global economic slowdown coupled by domestic woes.

North Block sources, however, have expressed hope that a pickup will be visible from the third quarter.

On Friday, Japanese brokerage Nomura massively cut its GDP forecast to a low 4.9 percent for the year from 5.7 percent earlier, saying the economy is going through a "deeper trough" and even a sub-par recovery is at least a year away.

While there has been a rash of growth estimate cuts, including a 0.70 percentage points reduction by the RBI last month to 6.1 percent, the Japanese brokerage's estimate is so far the lowest.

The massive reduction in growth forecast comes amid a slide in GDP growth to a six-year low of 5 percent for the June quarter and amid high-frequency indicators showing further stress in the growth engine, which may lead the Q2 GDP printing even lower.

You May Also Like

SBI conducts mega e-auction of 1,000 properties across the country

SBI conducts mega e-auction of 1,000 properties across the country

Indian retail market to reach $1 trillion by 2025, says report

Indian retail market to reach $1 trillion by 2025, says report

Warbug Pincus to put in Rs 1,080 crore in Apollo Tyres

Warbug Pincus to put in Rs 1,080 crore in Apollo Tyres

Trending on CNBC-TV18

Live TV

recommended for you