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The global economy could shrink by up to one per cent in 2020 due to the coronavirus pandemic, a reversal from the previous forecast of 2.5 per cent growth, the UN has said, warning that it may contract even further if restrictions on the economic activities are extended without adequate fiscal responses. The analysis by the UN Department of Economic and Social Affairs (DESA) said the COVID-19 pandemic is disrupting global supply chains and international trade. With nearly 100 countries closing national borders during the past month, the movement of…

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Equity benchmark Sensex slumped over 700 points in early trade on Wednesday tracking losses in index heavyweights Reliance Industries, Kotak Bank, HDFC Bank and Infosys amid weak cues from global markets. Starting the new financial year on a negative note, the 30-share BSE barometer was trading 714.74 points or 2.43 per cent lower at 28,753.75. Similarly, the NSE Nifty fell 199 points, or 2.31 per cent, to 8,398.75. Kotak Bank was the top loser in the Sensex pack, cracking up to 8 per cent, followed by SBI, Infosys, HDFC Bank,…

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Equity indices notched up smart gains on the last day of 2019-20 on Tuesday, but ended deep in the red for the fiscal as the global coronavirus pandemic triggered record-shattering selloffs in March. The 30-share BSE Sensex traded in the positive zone throughout the session, ending 1,028.17 points or 3.62 per cent higher at 29,468.49 on across-the-board buying. Similarly, the NSE Nifty rose 316.65 points, or 3.82 per cent, to close at 8,597.75. During the financial year 2019-20, the Sensex plunged 9,204.42 points or 23.80 per cent, while the Nifty…

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