A trading day earlier i.e. on July 8, Sensex and Nifty closed with a fall. At the end of trading, the Sensex closed at 52,568.94, down 485.82 points, or 0.92 per cent. On the other hand, Nifty closed at 15,727.90, down 151.75 points or 0.96 per cent.
Finance Ministry statement on economic recovery
The statement of the Ministry of Finance has come out on the economic recovery. The Finance Minister said that the economy is showing signs of revival. Signs of revival are visible due to proper monetary policy. A better monsoon and better sowing can bring down inflation. Relief is expected from monetary policy steps. RBI’s efforts are on in the revival of sectors. He further said that there is pressure of input cost in the commodity. The recovery in commodity prices poses a risk of inflation. Inflation is expected to increase due to expensive global commodities. The steps of the government will increase the credit demand. The economic relief package will give a boost to the CAPEX cycle.