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Wholesale prices fall below expectations

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Most of our interactions nowadays are over digital platforms.. and naturally typos happen. You know what they say right, “To err is human“. More often than not, these typos don’t cause much trouble. But…

Matter of Fact

In 2005, a typing error caused Mizuho Securities Co. to lose at least $225 million on a stock trade. That’s close to ₹1700 crore in current value!! The Japanese investment bank accidentally sold 610,000 shares at 1 yen when it actually intended to sell 1 share at 610,000 yen.

In 2005, a typing error caused Mizuho Securities Co. to lose at least $225 million on a stock trade in Japan! The company accidentally sold 610,000 shares at 1 yen when it actually intended to sell 1 share at 610,000 yen. Click To Tweet

Markets Update

Nifty50

10,244.40

2.70% ▲

Sensex

34,731.73

2.80% ▲

Nifty500

8,403.40

2.50% ▲

Bank Nifty

21,338.10

3.31% ▲

Braving the geopolitical tensions and worsening Covid-19 situation, benchmark indices closed the week in green.

The Big Picture

Wholesale prices in India declined by 3.1% year-on-year in May 2020, compared with market estimates of a 1.05% fall. This was the steepest drop in wholesale prices since November of 2015
India’s trade deficit narrowed sharply to $3.15 billion in May 2020 from $15.36 billion in the same month last year. This was below market expectations of $7 billion.
As of Friday, 12,593 people have died in India due to Covid-19 and more than 3.8 lakh cases have been reported
Last week, 20 Indian Army personnel including a colonel were martyred in a fierce clash with Chinese troops in the Galwan Valley in eastern Ladakh. According to news reports, at least 43 Chinese soldiers have been seriously injured or killed in the clash

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Naveen K R

Senior Director, Windmill Capital | The content in this article is purely the author’s personal opinion and is for informational and educational purposes only. It should not be construed as professional financial advice and nor to be construed as an offer to buy /sell or the solicitation of an offer to buy / sell any security or financial products. The views and opinions stated in the content belong to the author. Windmill Capital Private Limited does not uphold nor promote any of the views / opinions. | Windmill Capital Private Limited is a SEBI registered research analyst (Regn. No. INH200007645)

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