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10 things you need to know before the opening bell on February 25

Updated : 2020-02-25 08:16:25

Indian shares are likely to receive a respite on Tuesday after massive sell-off in the previous trading session. At 7:22 am, the SGX Nifty was trading 66.50 points or 0.56 percent higher at 11,887.50. However, muted sentiment in global markets is expected to weigh on local shares.

1. Asia: Stocks in Japan saw sharp declines on Tuesday morning following an overnight plunge on Wall Street amid fears of the economic hit that could result from the ongoing coronavirus outbreak that is spreading beyond China. Returning from a Monday holiday, the Nikkei 225 plunged 3.97 percent in early trade. The Topix index also declined by 3.1 percent. Meanwhile, shares in Australia declined as the S&P/ASX 200 fell 1.56 percent. Overall, the MSCI Asia ex-Japan index traded 0.2 percent lower. (Image: Reuters)
1. Asia: Stocks in Japan saw sharp declines on Tuesday morning following an overnight plunge on Wall Street amid fears of the economic hit that could result from the ongoing coronavirus outbreak that is spreading beyond China. Returning from a Monday holiday, the Nikkei 225 plunged 3.97 percent in early trade. The Topix index also declined by 3.1 percent. Meanwhile, shares in Australia declined as the S&P/ASX 200 fell 1.56 percent. Overall, the MSCI Asia ex-Japan index traded 0.2 percent lower. (Image: Reuters)
2. US: The S&P 500 and the Dow Jones Industrial Average on Monday suffered their biggest one-day percentage losses in two years after a surge in coronavirus cases outside China fanned worries about the global economic impact of a potential pandemic. The Dow Jones Industrial Average fell 1,031.61 points, or 3.56 percent, to 27,960.8, the S&P 500 lost 111.86 points, or 3.35 percent, to 3,225.89 and the Nasdaq Composite dropped 355.31 points, or 3.71 percent, to 9,221.28. (Image: AP)
2. US: The S&P 500 and the Dow Jones Industrial Average on Monday suffered their biggest one-day percentage losses in two years after a surge in coronavirus cases outside China fanned worries about the global economic impact of a potential pandemic. The Dow Jones Industrial Average fell 1,031.61 points, or 3.56 percent, to 27,960.8, the S&P 500 lost 111.86 points, or 3.35 percent, to 3,225.89 and the Nasdaq Composite dropped 355.31 points, or 3.71 percent, to 9,221.28. (Image: AP)
3. Market At Close On Monday: A surge of coronavirus infections outside mainland China triggered a steep fall in Indian shares, with benchmarks falling over 1.5 percent on Monday. The sentiment declined as it renewed concerns surrounding the impact on the global economy. Investors fled to safe havens such as gold, which hit a seven-year high. The BSE Sensex ended 807 points lower at 40,363, while the Nifty50 index settled 251 points lower at 11,829. Meanwhile, foreign institutional investors sold Rs 1,161 crore in the cash market while the domestic institutional investors bought Rs 516 crore. (Image: Reuters)
3. Market At Close On Monday: A surge of coronavirus infections outside mainland China triggered a steep fall in Indian shares, with benchmarks falling over 1.5 percent on Monday. The sentiment declined as it renewed concerns surrounding the impact on the global economy. Investors fled to safe havens such as gold, which hit a seven-year high. The BSE Sensex ended 807 points lower at 40,363, while the Nifty50 index settled 251 points lower at 11,829. Meanwhile, foreign institutional investors sold Rs 1,161 crore in the cash market while the domestic institutional investors bought Rs 516 crore. (Image: Reuters)
4. Crude Oil: Oil slid more than 5 percent at its session low on Monday, falling into the bear market territory as the number of coronavirus cases outside of China surged. Investors are worried that a subsequent slowdown in the global economy could dent the demand for crude. U.S. West Texas Intermediate crude shed 3.65 percent or $1.95, to settle at $51.43 per barrel for its worst day since January 8, while the International benchmark Brent crude fell $2.20, or 3.8 percent, to settle at $56.30 per barrel. (Image: Reuters)
4. Crude Oil: Oil slid more than 5 percent at its session low on Monday, falling into the bear market territory as the number of coronavirus cases outside of China surged. Investors are worried that a subsequent slowdown in the global economy could dent the demand for crude. U.S. West Texas Intermediate crude shed 3.65 percent or $1.95, to settle at $51.43 per barrel for its worst day since January 8, while the International benchmark Brent crude fell $2.20, or 3.8 percent, to settle at $56.30 per barrel. (Image: Reuters)
5. Rupee Close: The rupee on Monday fell by 34 paise to close at more than three-month low of 71.98 against the US dollar, tracking heavy selling in domestic equities and strengthening of the American currency in the overseas market. Forex traders said investor sentiment remained fragile amid concerns over the impact of coronavirus outbreak on global economy. At the interbank foreign exchange market, the local currency opened on a negative note at 71.94. During the day, the domestic currency touched a high of 71.76 and a low of 72.01 and finally settled 34 paise lower at 71.98 against the US currency. This is the lowest closing level since November 13. (Image for representational purpose)
5. Rupee Close: The rupee on Monday fell by 34 paise to close at more than three-month low of 71.98 against the US dollar, tracking heavy selling in domestic equities and strengthening of the American currency in the overseas market. Forex traders said investor sentiment remained fragile amid concerns over the impact of coronavirus outbreak on global economy. At the interbank foreign exchange market, the local currency opened on a negative note at 71.94. During the day, the domestic currency touched a high of 71.76 and a low of 72.01 and finally settled 34 paise lower at 71.98 against the US currency. This is the lowest closing level since November 13. (Image for representational purpose)
6. Government Asks Telcos To Submit Self-Assessment Documents: The government has asked telecom companies to submit AGR self-assessment documents that form the basis of their statutory dues calculation, according to DoT sources. The sources, who did not wish to be named, said the exercise will help the Department of Telecom examine the AGR calculations being made by the telecom players. All three telecom companies Bharti Airtel, Vodafone Idea and Tata Teleservices have been asked to provide substantiating documents to support their claims on AGR arithmetic, they added. (Image: Reuters)
6. Government Asks Telcos To Submit Self-Assessment Documents: The government has asked telecom companies to submit AGR self-assessment documents that form the basis of their statutory dues calculation, according to DoT sources. The sources, who did not wish to be named, said the exercise will help the Department of Telecom examine the AGR calculations being made by the telecom players. All three telecom companies Bharti Airtel, Vodafone Idea and Tata Teleservices have been asked to provide substantiating documents to support their claims on AGR arithmetic, they added. (Image: Reuters)
7. SEBI Reviews Margin Framework: Markets regulator Sebi on Monday reviewed the margin framework for cash and derivatives segments, in order to bring more efficiency in the risk management system. The move has been taken to keep pace with the changing market dynamics and to bring more efficiency in the risk management framework. The framework, which has been prepared in consultation with the capital markets regulator's Risk Management Review Committee, will come into effect from May 1 this year, the Securities and Exchange Board of India (Sebi) said in a circular. (Image: Reuters)
7. SEBI Reviews Margin Framework: Markets regulator Sebi on Monday reviewed the margin framework for cash and derivatives segments, in order to bring more efficiency in the risk management system. The move has been taken to keep pace with the changing market dynamics and to bring more efficiency in the risk management framework. The framework, which has been prepared in consultation with the capital markets regulator's Risk Management Review Committee, will come into effect from May 1 this year, the Securities and Exchange Board of India (Sebi) said in a circular. (Image: Reuters)
8. RBI Reveals Its New Motto: With 'cash is king, but digital is divine' moto, the Reserve Bank on Monday said its endeavour will be to make digital payments a divine experience for the users after being buoyed by over Rs 3.5 lakh crore reduction in the notes in circulation (NIC) post demonetization. In its assessment of the progress of digitization from cash to electronic, the RBI said while there is no accurate measure of cash payments in the country, the progress of various digital payments can be measured accurately. Overall, the digital payments in the country have witnessed a growth (CAGR) of 61 percent and 19 percent in terms of volume and value, respectively over the past five years, demonstrating a steep shift towards digital payments. (Image: Reuters)
8. RBI Reveals Its New Motto: With 'cash is king, but digital is divine' moto, the Reserve Bank on Monday said its endeavour will be to make digital payments a divine experience for the users after being buoyed by over Rs 3.5 lakh crore reduction in the notes in circulation (NIC) post demonetization. In its assessment of the progress of digitization from cash to electronic, the RBI said while there is no accurate measure of cash payments in the country, the progress of various digital payments can be measured accurately. Overall, the digital payments in the country have witnessed a growth (CAGR) of 61 percent and 19 percent in terms of volume and value, respectively over the past five years, demonstrating a steep shift towards digital payments. (Image: Reuters)
9. US FCC Chairman Meets DoT Secretary: The US' Federal Communications Commission (FCC) Chairman Ajit Pai on Monday met Telecom Secretary Anshu Prakash and discussed issues ranging from spectrum to 5G. However, the two sides did not discuss the contentious issue of participation of Chinese telecom vendors such as Huawei in the futuristic 5G networks. Chinese telecom gear maker Huawei, which rivals western equipment makers such as Ericsson, is facing curbs in the US. India, however, had made it clear that the government will allocate airwaves to all telecom service providers for conducting trials of super-fast speed 5G networks, and that New Delhi will not bar any equipment suppliers in the upcoming trials for 5G. (Image: Reuters)
9. US FCC Chairman Meets DoT Secretary: The US' Federal Communications Commission (FCC) Chairman Ajit Pai on Monday met Telecom Secretary Anshu Prakash and discussed issues ranging from spectrum to 5G. However, the two sides did not discuss the contentious issue of participation of Chinese telecom vendors such as Huawei in the futuristic 5G networks. Chinese telecom gear maker Huawei, which rivals western equipment makers such as Ericsson, is facing curbs in the US. India, however, had made it clear that the government will allocate airwaves to all telecom service providers for conducting trials of super-fast speed 5G networks, and that New Delhi will not bar any equipment suppliers in the upcoming trials for 5G. (Image: Reuters)
10. Government Introduces New E-Form: The government on Monday introduced a new electronic form for incorporation of companies, saying the initiative will help in reducing time and cost of starting a business in the country. SPICe+, an integrated web form, would have two parts -- for reserving names for new companies and providing various services at the time of incorporation.
10. Government Introduces New E-Form: The government on Monday introduced a new electronic form for incorporation of companies, saying the initiative will help in reducing time and cost of starting a business in the country. SPICe+, an integrated web form, would have two parts -- for reserving names for new companies and providing various services at the time of incorporation. "Registration for EPFO and ESIC shall be mandatory for all new companies to be incorporated through SPICe+ and no EPFO and ESIC registration numbers shall be separately issued by the respective agencies," the corporate affairs ministry said in a release on Monday. (Image: Reuters)
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