BUSINESS

In simple words, recessionary phase for an economy arises when overall output of goods and services, i.e. GDP, contracts from one quarter to another, and it becomes 'recession' when the phase keeps on happening repetitively over several quarters.

After the recent record run and positive trend for eight straight sessions, it is for the second consecutive day of fall in the domestic stock market. Banking and finance stocks witnessed heavy selling pressure on Friday.

As per the Axios report, the stock sale is perfectly legal through a predetermined plan called Rule 10b5-1 but the optics aren't great.

Modi said that the change had come due to the approach of "reform, perform and transform". He said that rules and procedures are being reformed with the help of technology.

The facility is situated across an area of nearly 50,000 square feet and it will support Flipkart's ability to deliver a wide selection of grocery products to consumers in the cities of Lucknow, Kanpur and Allahabad. This is the e-commerce major's first grocery centre in Uttar Pradesh.

Calender year 2020 has been a year of change of trends in many ways, as compared to a narrow market movement of CY2018 & CY2019, the market rally is much more broad-based in CY2020, the BSE Small-Cap index has gained more than 12 per cent v/s the large-cap indices (Sensex & Nifty) flat for last eleven months.

The brand signings declined by 19 per cent in Q3 2020 over Q3 2019 in inventory volume. However the industry got greater number of keys signed by international operators than domestic ones, states JLL's Hotel Momentum India (HMI) Q3 2020.

Apart from that, quarterly results that are better-than-expected, faster economic recovery as per high-frequency data, and development of a Covid-19 prevention vaccine that has reached an advanced stage which helped in boosting buyers' sentiments.

The Sensex was trading at 41,594.21, higher by 254.05 points or 0.61 per cent from the previous close of 41,340.16 at around 10.40 a.m. It opened at 41,438.76 and has so far touched an intra-day high of 41,666.92 and a low of 41,383.29 points.

Investors took note of the improving macro scenario in the country. Activity in India’s dominant services industry expanded for the first time in eight months in October as demand surged. The Nikkei/IHS Markit Services Purchasing Managers’ Index climbed to 54.1 in October from September’s 49.8. It was the highest reading since February and comfortably above the 50-mark separating growth from contraction.