Updated : 2020-03-23 07:48:40
As more countries undertake lockdown in the fight against coronavirus, share markets across globe take a bigger hit. Asian shares and US futures continue to slip as analysts and investors fear of a deep global recession. At 7:32, the SGX Nifty was trading 11 percent or 1,000 points lower at 7,743, pointing at a lower start for the Sensex and Nifty50.
1. Asia: Markets in Asia Pacific saw significant declines in Monday morning trade as fears over the economic impact of the global coronavirus outbreak continue to weigh heavily on investor sentiment. South Korea stocks were among the biggest losers among major regional markets, with the Kospi falling 5.59 percent in early trade. Over in Australia, the S&P/ASX 200 dropped 5.73 percent in morning trade as the sectors mostly fell. The Nikkei 225 in Japan bucked the overall trend regionally as it edged 0.6 percent higher, while the Topix index also added 0.1 percent. Overall, the MSCI Asia ex-Japan index fell 1.72 percent. (Image: Reuters)
2. US: Stock futures plunged again on Sunday night as Wall Street waits on Washington to agree to an economic stimulus and rescue plan to combat the giant economic blow from the coronavirus outbreak. Dow Jones Industrial Average futures fell more than 800 points, or 4.3 percent, along with S&P 500 and Nasdaq-100 futures. (Image: AP)
3. Market At Close On Friday: Indian market surged on Friday as Asian peers rebounded after four sessions of bruising losses, mainly led by gains in IT, FMCG, and metal space. The Nifty50 records best one-day gain in more than six months, but ended the week around 12 percent lower, and analysts signalled the worst was far from over. The Sensex ended 1,628 points higher at 29,916, while the Nifty rose 486 points to settle at 8,750. (Image: Reuters)
4. Crude Oil: Prices moved higher on Sunday, snapping back from a week of steep declines that saw U.S. West Texas Intermediate crude post its worst week since 1991. Investors are waiting on Washington to agree to an economic stimulus and rescue plan.
WTI rose 0.6 percent to trade at $22.77 per barrel, erasing early losses that had sent the contract tumbling more than 8 percent. International benchmark Brent crude shed 2.7 percent to trade at $26.25 per barrel. (Image: Reuters)
5. Rupee Close: The rupee slumped on Friday to a record closing low of 75.24 against the U.S. dollar (Image: Reuters)
6. RBI Purchases OMO: The Reserve Bank of India (RBI) on Friday announced to conduct purchase of Government securities under Open Market Operations (OMOs) for an aggregate amount of Rs 30,000 crores in two tranches of Rs 15,000 crores each in the month of March 2020 with tenor between two and nine years. The auctions would be conducted on March 24 and March 30. (Image: Reuters)
7. SEBI Lowers Position Limits In F&O: To curb the ongoing volatility in the stock market, market regulator SEBI has cut market-wide position limits on stocks part of the futures and options list by half of the existing limit. Also, the margin rate for cash market trades will be increased to 40 percent in a phased manner from March 23 to March 30. Proposed margins rate may be applicable for a period of 1 month, the SEBI release said. (Image: Reuters)
8. SC Denies Relief On Tax Payment Deferrals: The SC on Friday stayed an order passed by the Kerala and Allahabad high courts, which restrained banks and tax authorities from launching recovery proceedings owing to the novel coronavirus outbreak. In its petition, the government argued that the order will incentivise people to defer their bank and tax dues and could hit the government’s kitty to the extent of Rs 2 lakh crore every month. (Image: Reuters)
9. Cash Transfers To Beneficiaries Rise: Cash transfers have gone up by 33 percent in FY20 when compared to the last financial year. Nearly 79 crore DBT beneficiaries have received cash transfers, reports Sapna Das. Jan Dhan Yojana has 38.26 crore beneficiaries till March 11 with total deposits of Rs 1.17 lakh crore. RuPay Cards: 29.23 crore cards issued till March 11. Cash transfers in FY20 have gone up 33 percent, as against 59 crore in FY19. (Representational Image)
10. SIAM, ACMA Urge Automakers To Shut Down Plants: The Society of Indian Automobile Manufacturers (SIAM) and Automotive Component Manufacturers Association of India (ACMA) have requested all vehicle manufacturers and component makers to consider plant shutdown in order to limit the rapid spread of coronavirus. The leading automobile manufacturers in India have already started shutting down operations in Maharashtra hours after the state government ordered a shutdown of all workplaces until March 31 in order to prevent the spread of coronavirus. (Image: Reuters)