Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities, said: “Equity market in India posted negative returns this week, with majority of indices posting decline."
CRISIL also said that the prices of roughs have shot up almost 30 per cent since the start of this fiscal, with key buyers in the US and EU have been insisting on certificates of origin.
Profits fell 6.5% from a year earlier, less than the 8.5% decline in April, according to data released by the National Bureau of Statistics (NBS) on Monday.
According to a report released on Tuesday by the National Health Commission, China reported 60 locally disseminated validated COVID-19 cases in the last 24 hours, including 15 in the Inner Mongolia Autonomous Region, 42 in Beijing, and three in Shanghai.
The latest surge in Covid-19 cases in China has affected its stock market adversely. On March 7, Chinese stock market fell to a 20-month low as the country reported the highest number of daily new local symptomatic Covid-19 infections in about two years. The Shanghai Composite which stood at 3,447 on March 4 slipped to its lowest in 20 months at 3,372 on March 7. Since then, the Chinese stock index has lost 228 points or 6.61 per cent to 3,219 till date. Mainland China on March 7 reported 214 new cases of infection over the previous 24 hours.