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10 things you need to know before the opening bell on April 28

Updated : 2020-04-28 08:03:45

Indian shares will most likely open flat on Tuesday following its Asian peers that are currently trading with a mixed sentiment. At 7:15 am, the SGX Nifty traded 14 points lower at 9,340, indicating at a flat start for the Sensex and the Nifty50.

1. Asia: Stocks in Asia were little changed on Tuesday morning as oil prices continued to slip following an overnight plunge on fears that global storage capacity will soon be filled as a result of weak demand caused by the coronavirus pandemic. In Japan, the Nikkei 225 dipped 0.17 percent while the Topix index shed 0.25 percent. South Korea’s Kospi, on the other hand, added 0.36 percent. Over in Australia, the S&P/ASX 200 shed 0.23 percent. Overall, the MSCI Asia ex-Japan index traded 0.08 percent higher. (Image Source: Reuters)
1. Asia: Stocks in Asia were little changed on Tuesday morning as oil prices continued to slip following an overnight plunge on fears that global storage capacity will soon be filled as a result of weak demand caused by the coronavirus pandemic. In Japan, the Nikkei 225 dipped 0.17 percent while the Topix index shed 0.25 percent. South Korea’s Kospi, on the other hand, added 0.36 percent. Over in Australia, the S&P/ASX 200 shed 0.23 percent. Overall, the MSCI Asia ex-Japan index traded 0.08 percent higher. (Image Source: Reuters)
2. US: U.S. stock futures opened flat in overnight trading, following a rally in the previous session as plans to ease coronavirus-induced lockdowns fueled investor appetite for riskier assets. Dow futures rose 20 points, indicating a gain of 0.06 percent at the open on Tuesday. The S&P 500 and Nasdaq were also flat, with gains of 0.05 percent and 0.08 percent , respectively. A partial reopening of the economy is boosting investor sentiment, with certain U.S. businesses poised to benefit from the first wave of consumers emerging from the coronavirus driven quarantine. (Image Source: AP)
2. US: U.S. stock futures opened flat in overnight trading, following a rally in the previous session as plans to ease coronavirus-induced lockdowns fueled investor appetite for riskier assets. Dow futures rose 20 points, indicating a gain of 0.06 percent at the open on Tuesday. The S&P 500 and Nasdaq were also flat, with gains of 0.05 percent and 0.08 percent , respectively. A partial reopening of the economy is boosting investor sentiment, with certain U.S. businesses poised to benefit from the first wave of consumers emerging from the coronavirus driven quarantine. (Image Source: AP)
3. Market At Close On Monday: Indian shares rose more than 1 percent on Monday, powered by gains in banking and asset management company stocks after the RBI launched a special liquidity facility for mutual funds to ease the pressure due to the coronavirus pandemic. The Sensex ended 416 points higher at 31,743, while the Nifty settled 128 points at 9,282. (Image Source: Reuters)
3. Market At Close On Monday: Indian shares rose more than 1 percent on Monday, powered by gains in banking and asset management company stocks after the RBI launched a special liquidity facility for mutual funds to ease the pressure due to the coronavirus pandemic. The Sensex ended 416 points higher at 31,743, while the Nifty settled 128 points at 9,282. (Image Source: Reuters)
4. Crude Oil: U.S. oil prices plunged nearly 25 percent on Monday on fears that worldwide storage will soon fill as the coronavirus pandemic continues to roil demand. West Texas Intermediate for June delivery fell 24.56 percent, or $4.16, to settle at $12.78 per barrel, after earlier trading as low as $11.88. International benchmark Brent crude fell 6.76 percent to settle at $19.99. Each contract is coming off its eighth week of losses in nine weeks. (Image Source: Reuters)
4. Crude Oil: U.S. oil prices plunged nearly 25 percent on Monday on fears that worldwide storage will soon fill as the coronavirus pandemic continues to roil demand. West Texas Intermediate for June delivery fell 24.56 percent, or $4.16, to settle at $12.78 per barrel, after earlier trading as low as $11.88. International benchmark Brent crude fell 6.76 percent to settle at $19.99. Each contract is coming off its eighth week of losses in nine weeks. (Image Source: Reuters)
5. Rupee Close: The Indian Rupee ended higher by 21 paise at 76.24 per dollar, helped by buying seen in the domestic equity market. (Image Source: Reuters)
5. Rupee Close: The Indian Rupee ended higher by 21 paise at 76.24 per dollar, helped by buying seen in the domestic equity market. (Image Source: Reuters)
6. PM Modi Asks States To Formulate SOPs: Prime Minister Narendra Modi, in a virtual meeting with chief ministers on Monday, asked states to formulate SOPs for graded opening, sources told CNBC-TV18. The PM said that the SOPs will be the new way of lifestyle to be followed for sometime, the sources added. According to the sources mentioned above, Modi is in favour of graded opening of green zones, however, the government does not support opening up red and orange zones post May 3. Modi called for a massive reforms push, said the sources. The PM said that this is the time to plan reforms and asked states to take forward measures for social and economic welfare, they added. (Image Source: Reuters)
6. PM Modi Asks States To Formulate SOPs: Prime Minister Narendra Modi, in a virtual meeting with chief ministers on Monday, asked states to formulate SOPs for graded opening, sources told CNBC-TV18. The PM said that the SOPs will be the new way of lifestyle to be followed for sometime, the sources added. According to the sources mentioned above, Modi is in favour of graded opening of green zones, however, the government does not support opening up red and orange zones post May 3. Modi called for a massive reforms push, said the sources. The PM said that this is the time to plan reforms and asked states to take forward measures for social and economic welfare, they added. (Image Source: Reuters)
7. Supreme Court Refuses To Stay MHA Order Over Full Salaries: The Supreme Court on Monday refused to allow interim protection to the Indian private sector, particularly MSMEs that moved the apex court, by not allowing a stay of the Ministry of Home Affairs (MHA) order directing payment of full salaries. On March 29, MHA had passed an order directing all private enterprises to continue payment of full salaries for the duration of the lockdown. The MHA order had warned of legal consequences if the directions for payment of full salaries were not complied with. (Image Source: Reuters)
7. Supreme Court Refuses To Stay MHA Order Over Full Salaries: The Supreme Court on Monday refused to allow interim protection to the Indian private sector, particularly MSMEs that moved the apex court, by not allowing a stay of the Ministry of Home Affairs (MHA) order directing payment of full salaries. On March 29, MHA had passed an order directing all private enterprises to continue payment of full salaries for the duration of the lockdown. The MHA order had warned of legal consequences if the directions for payment of full salaries were not complied with. (Image Source: Reuters)
8. Nitin Gadkari On China: Union minister Nitin Gadkari on Sunday said India should look at converting the world's
8. Nitin Gadkari On China: Union minister Nitin Gadkari on Sunday said India should look at converting the world's "hatred" for China amid the coronavirus pandemic into an economic opportunity for itself by attracting large-scale foreign investments. Interacting with overseas Indian students via video-conferencing, the minister for MSME and Road Transport and Highways said across the world now, there is "hatred for China. Is it possible for us to convert it into an opportunity for India?" Referring to the economic package announced by Japan for its businesses exiting China, Gadkari said, "I feel that we should think on that and we will concentrate on it. We will open the Indian scenario for that. We will give the clearances and everything to them and attract foreign investment." (Image Source: Reuters)
9. SEBI Reduces Turnover Fees By 50%: In a bid to provide some relief to the stock broking community grappling with the coronavirus pandemic, the Securities and Exchange Board of India (Sebi) has decided to reduce its fees on broker turnover by 50 percent. Reduction in broker turnover fees will be applicable between June 2020 and March 2021. (Image Source: Reuters)
9. SEBI Reduces Turnover Fees By 50%: In a bid to provide some relief to the stock broking community grappling with the coronavirus pandemic, the Securities and Exchange Board of India (Sebi) has decided to reduce its fees on broker turnover by 50 percent. Reduction in broker turnover fees will be applicable between June 2020 and March 2021. (Image Source: Reuters)
10. India Ratings Cuts India's FY21 GDP Growth: Ratings agency India Ratings and Research has revised its FY21 gross domestic product (GDP) growth further down to 1.9 percent from its earlier forecast of 3.6 percent. According to the ratings agency, this will be the lowest GDP growth in the last 29 years and is based on the assumption that the partial lockdown will continue till mid-May 2020. (Representational Image)
10. India Ratings Cuts India's FY21 GDP Growth: Ratings agency India Ratings and Research has revised its FY21 gross domestic product (GDP) growth further down to 1.9 percent from its earlier forecast of 3.6 percent. According to the ratings agency, this will be the lowest GDP growth in the last 29 years and is based on the assumption that the partial lockdown will continue till mid-May 2020. (Representational Image)
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