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10 things you need to know before the opening bell on April 24

Updated : 2020-04-24 07:57:02

Indian shares are expected to open lower on Friday after global markets slipped over coronavirus treatment concerns as reports claimed Gilead's drug failed in the trial. At 7:45 am, the SGX Nifty traded 100 points lower at 9,189, indicating a negative start for the Sensex and Nifty50.

1. Asia: Stocks in Asia declined in Friday morning trade after an overnight report that raised doubts over a potential coronavirus treatment. The Nikkei 225 in Japan shed 0.99 percent while the Topix index declined 0.78 percent. Over in South Korea, the Kospi fell 0.82 percent. Mainland Chinese stocks declined in early trade, with the Shanghai composite 0.34 percent lower while shares in Australia traded higher, with the S&P/ASX 200 up 0.29 percent. Overall, the MSCI Asia ex-Japan index traded 0.6 percent lower. (Image Source: AP)
1. Asia: Stocks in Asia declined in Friday morning trade after an overnight report that raised doubts over a potential coronavirus treatment. The Nikkei 225 in Japan shed 0.99 percent while the Topix index declined 0.78 percent. Over in South Korea, the Kospi fell 0.82 percent. Mainland Chinese stocks declined in early trade, with the Shanghai composite 0.34 percent lower while shares in Australia traded higher, with the S&P/ASX 200 up 0.29 percent. Overall, the MSCI Asia ex-Japan index traded 0.6 percent lower. (Image Source: AP)
2. US: U.S. stock futures were lower on Thursday night as investors continued to weigh the prospects of a potential coronavirus treatment. Dow Jones Industrial Average futures fell 108 points, or 0.5 percent. S&P 500 and Nasdaq 100 futures dipped 0.6 percent and 0.8 percent, respectively. The major averages were taken for a wild ride during the regular session after The Financial Times reported — citing documents accidentally published by the World Health Organization — that Gilead Sciences’ drug remdesivir did not improve coronavirus patients’ condition.  (Image Source: AP)
2. US: U.S. stock futures were lower on Thursday night as investors continued to weigh the prospects of a potential coronavirus treatment. Dow Jones Industrial Average futures fell 108 points, or 0.5 percent. S&P 500 and Nasdaq 100 futures dipped 0.6 percent and 0.8 percent, respectively. The major averages were taken for a wild ride during the regular session after The Financial Times reported — citing documents accidentally published by the World Health Organization — that Gilead Sciences’ drug remdesivir did not improve coronavirus patients’ condition.  (Image Source: AP)
3. Market At Close On Thursday: Indian shares ended higher on Thursday, in line with Asian markets as oil prices recovered from a collapse earlier in the week. Meanwhile, hopes of a new stimulus package by the government to mitigate the economic damage caused by the coronavirus outbreak lifted sentiment. The Sensex settled 483 points higher at 31,863 while the Nifty50 index ended 126 points higher at 9,314. The gains were mainly led by financials and IT stocks.(Image Source: Reuters)
3. Market At Close On Thursday: Indian shares ended higher on Thursday, in line with Asian markets as oil prices recovered from a collapse earlier in the week. Meanwhile, hopes of a new stimulus package by the government to mitigate the economic damage caused by the coronavirus outbreak lifted sentiment. The Sensex settled 483 points higher at 31,863 while the Nifty50 index ended 126 points higher at 9,314. The gains were mainly led by financials and IT stocks.(Image Source: Reuters)
4. Rupee Close: The rupee soared by 62 paise to settle at 76.06 (provisional) against the US dollar on Thursday tracking gains in domestic equities and strength in Asian currencies. Forex traders said investor sentiment strengthened after the RBI said it would undertake additional purchase of government securities through open market operations (OMO). (Image Source: Reuters)
4. Rupee Close: The rupee soared by 62 paise to settle at 76.06 (provisional) against the US dollar on Thursday tracking gains in domestic equities and strength in Asian currencies. Forex traders said investor sentiment strengthened after the RBI said it would undertake additional purchase of government securities through open market operations (OMO). (Image Source: Reuters)
5. Crude Oil: Oil jumped nearly 20 percent on Thursday, accelerating its recent rally as the Street eyed continued production cuts and rising U.S.-Iranian tensions. West Texas Intermediate, the U.S. benchmark, rose 19.7 percent, or $2.72, to settle at $16.50 per barrel. Brent crude, the international benchmark, gained 96 cents, or 4.7 percent, to settle at $21.33. (Image Source: Reuters)
5. Crude Oil: Oil jumped nearly 20 percent on Thursday, accelerating its recent rally as the Street eyed continued production cuts and rising U.S.-Iranian tensions. West Texas Intermediate, the U.S. benchmark, rose 19.7 percent, or $2.72, to settle at $16.50 per barrel. Brent crude, the international benchmark, gained 96 cents, or 4.7 percent, to settle at $21.33. (Image Source: Reuters)
6. SEBI Relaxes AGM Deadline: Providing compliance relaxation amid the coronavirus pandemic, markets regulator Sebi on Thursday gave time till September-end to certain companies for conducting their annual general meetings. Relaxing the provisions of LODR norms, Sebi in a circular said,
6. SEBI Relaxes AGM Deadline: Providing compliance relaxation amid the coronavirus pandemic, markets regulator Sebi on Thursday gave time till September-end to certain companies for conducting their annual general meetings. Relaxing the provisions of LODR norms, Sebi in a circular said, "The top-100 listed entities by market capitalisation whose financial year ended on December 31, 2019, may hold their AGM within a period of nine months from the closure of the financial year (i.e., by September 30, 2020)." Sebi said the circular "shall come into force with immediate effect". (Image Source: Reuters)
7. NITI Aayog, RBI, Urjit Patel In Discussion With PMO: NITI Aayog CEO Amitabh Kant recently said that the coronavirus pandemic has severely impacted India’s supply chain. On April 22, he along with Niti Aayog Vice Chairman Rajiv Kumar, Finance Commission Chairman NK Singh and other top officials held three-hour long discussions with PMO officials, RBI Governor Shaktikanta Das, former governor Urjit Patel and PMEAC Chairman Bibek Debroy, highly-placed sources told CNBC-TV18. (Image Source: PTI)
7. NITI Aayog, RBI, Urjit Patel In Discussion With PMO: NITI Aayog CEO Amitabh Kant recently said that the coronavirus pandemic has severely impacted India’s supply chain. On April 22, he along with Niti Aayog Vice Chairman Rajiv Kumar, Finance Commission Chairman NK Singh and other top officials held three-hour long discussions with PMO officials, RBI Governor Shaktikanta Das, former governor Urjit Patel and PMEAC Chairman Bibek Debroy, highly-placed sources told CNBC-TV18. (Image Source: PTI)
8. India's GDP Growth Likely To Range Up To 1.5%: India's GDP is likely to range between a decline of 0.9 percent and a growth of 1.5 percent in the current financial year, with the economy undergoing a
8. India's GDP Growth Likely To Range Up To 1.5%: India's GDP is likely to range between a decline of 0.9 percent and a growth of 1.5 percent in the current financial year, with the economy undergoing a "turbulent" phase caused by the coronavirus-induced lockdown, according to a report. The Confederation of Indian Industry (CII) in a paper - A plan for economic recovery - has laid out its growth expectation under three scenarios and suggested "urgent" fiscal interventions. (Representational Image)
9. Truck Movement Still Patchy After Repeated Government Measures: The movement of trucks is a fairly good indicator of a country's economic and production activity. Judging by that parameter, productivity in India has not picked up much in the fifth week of the lockdown. Even as the government has been issuing guidelines for easing restrictions on manufacturing and since April 20, the improvement at the ground level has been marginal. This figure ranged between 20 and 25 percent of capacity in the last week, up from just about 10 percent before April 10, according to a survey of 30,000 fleet owners by fleet management platform LocoNav. (Image Source: Reuters)
9. Truck Movement Still Patchy After Repeated Government Measures: The movement of trucks is a fairly good indicator of a country's economic and production activity. Judging by that parameter, productivity in India has not picked up much in the fifth week of the lockdown. Even as the government has been issuing guidelines for easing restrictions on manufacturing and since April 20, the improvement at the ground level has been marginal. This figure ranged between 20 and 25 percent of capacity in the last week, up from just about 10 percent before April 10, according to a survey of 30,000 fleet owners by fleet management platform LocoNav. (Image Source: Reuters)
10. Record US Jobs Claims Wipe Out: A record 26 million Americans sought unemployment benefits over the last five weeks, confirming that all the jobs created during the longest employment boom in U.S. history were wiped out in about a month as the novel coronavirus savages the economy. The Labor Department said on Thursday 4.427 million more people applied for unemployment benefits for the first time last week, down from a revised 5.237 million the week before. Nonetheless, the report adds to a growing pile of increasingly bleak economic data. (Image Source: Reuters)
10. Record US Jobs Claims Wipe Out: A record 26 million Americans sought unemployment benefits over the last five weeks, confirming that all the jobs created during the longest employment boom in U.S. history were wiped out in about a month as the novel coronavirus savages the economy. The Labor Department said on Thursday 4.427 million more people applied for unemployment benefits for the first time last week, down from a revised 5.237 million the week before. Nonetheless, the report adds to a growing pile of increasingly bleak economic data. (Image Source: Reuters)
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