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10 things you need to know before the opening bell on March 18

10 things you need to know before the opening bell on March 18

10 things you need to know before the opening bell on March 18
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By CNBC-TV18 Mar 18, 2020 8:13:43 AM IST (Published)

Volatility has been the name of the game on Dalal Street in the last few days. At 7:00 am, the SGX Nifty is trading 85.40 points or 0.96 percent higher at 9,001.00, indicating a positive start for the Sensex and Nifty50. Overnight, the Wall Street jumped after Monday's historic sell-off as the Dow Jones Industrial Average rose 1,048.86 points, or 5.2 percent on hopes of a Fed stimulus as the world grapples with the coronanvirus pandemic. Asian stocks are trading mixed however as the Dow Futures is down more than 500 points.

Asia shares 1. Asia:

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Asian stocks were mixed in Wednesday morning trade after stocks on Wall Street bounced back overnight on hopes of stimulus as the country grapples with the coronavirus outbreak. In Japan, shares remained in positive territory as the Nikkei 225 gained 1.47 percent while mainland Chinese stocks edged higher in early trade, with the Shanghai composite up 0.69 percent. Overall, the MSCI Asia ex-Japan index traded 0.59 percent lower.

USA-STOCKS 2. Wall Street: The S&P 500 rose 6 percent on Tuesday, clawing back a significant portion of Monday's steep losses, as the Federal Reserve and the White House took further steps to boost liquidity and stem damage from the coronavirus outbreak that has gripped the global economy. The Dow Jones Industrial Average rose 1,048.86 points, or 5.2 percent, to 21,237.38, the S&P 500 gained 143.06 points, or 6.00 percent, to 2,529.19 and the Nasdaq Composite added 430.19 points, or 6.23 percent, to 7,334.78.
Sensex, Nifty, Bank Nifty, Nifty IT, Nifty FMCG, Nifty Auto, Nifty Metal, HDFC, HDFC Bank, Reliance Industries, TCS, Hindustan Unilever, BSE India, NSE India, Markets Today, Market News 3. Market at Close: The Sensex and Nifty erased early gains to end 2.5 percent on Tuesday as headlines about the human and economic toll of coronavirus kept investors on edge. The BSE Sensex shed 811 points to close at a three-year low of 30,579, and the Nifty tumbled 230 points to close at 8967. Since March 2017, this is the first time the Nifty has closed below the psychological 9,000-mark.
4. Crude oil: Oil prices steadied early on Wednesday after sliding to their lowest in four years, sapped by fears for fuel demand and the global economy amid travel and social lockdowns triggered by the coronavirus epidemic in a number of countries around the world. Brent crude was up 8 cents, or 0.3 percent, at $28.81 a barrel by 0029 GMT and the US crude was down 2 cents at $26.93 a barrel. (Image: Reuters)
5. Rupee: The rupee pared its initial gains to settle marginally higher at 74.24 against the US dollar on Tuesday amid continued meltdown in equity markets and sustained foreign fund outflows. Forex traders said the Indian rupee which started the day on a positive note, witnessed heavy volatility amid fears that the rate cut by the Reserve Bank would not be sufficient to boost market sentiments.
RBI, DHFL, DHFL resolution plan 6. RBI: The Reserve Bank of India has reduced the capital requirements for payment aggregators to Rs 15 crore at the time of application for the license from Rs 100 crore proposed earlier. In a regulatory note, the central bank said that applicants need to have Rs 15 crore of net worth, which needs to be increased to Rs 25 crore within three years of operations. "Existing non-bank entities offering payment aggregation (PA) services shall apply for authorization on or before June 30, 2021," RBI said.
Securities and Exchange Board of India (Sebi) 7. SEBI: Markets regulator Securities & Exchange Board of India asked merchant bankers to provide to investors an updated copy of the 'General Information Document' for public issues, having information about UPI mechanism and the reduced timeline for IPOs. In a circular issued on Tuesday, the Sebi has come out with certain generic disclosures that should be mentioned in the GID. It further said this generic information is not required to be provided in the abridged prospectus, which gives only key information to investors about IPOs and FPOs.
US Federal Reserve 8. US Federal Reserve: The US Federal Reserve moved Tuesday to ensure the flow of credit to US companies, banks and even local governments amid a nationwide scramble for ways to blunt the economic fallout from the coronavirus crisis. The Fed in the morning announced it would reopen the so-called Commercial Paper Funding Facility to underwrite the short-term loans that companies often use to pay for their operations, a key financial market backstop first set up 2007 to 2009. (Image: Reuters)
9. Yes Bank moratorium: The Reserve Bank of India will lift the moratorium on Yes Bank today at 6 pm, the third working day after the YES Bank reconstruction scheme came into force.  The bank will resume full banking services after the lifting of moratorium.
10. Coronavirus: The number of novel coronavirus cases in India rose to 139 so far, while one more person died taking the death toll to three, according to the health ministry. The cases include 24 foreign nationals and the three persons who died in Delhi, Karnataka and Maharashtra. Maharashtra has the highest number of 40 cases reported so far. Globally, total confirmed cases rose to 1,98,229 with 7,965 deaths due to the virus. (Image: AP)
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