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

Updated : 2020-03-25 07:58:19

The Indian market is likely to open lower as the government has announced a complete lockdown across the country for 21 days. However, Asian shares surging on Wall Street's big gains could provide some support to the domestic market. At 7:15 am, the SGX Nifty was trading 126.50 points or 1.65 percent higher at 7,775.25.

1. Asia: Stocks in Asia Pacific soared in morning trade on Wednesday following dramatic gains overnight on Wall Street as investors await the announcement of an enormous stimulus deal by U.S. lawmakers. The Nikkei 225 in Japan led gains among major markets in the region while the Topix index rose 4.45 percent. South Korea’s Kospi also saw robust gains as it jumped 3.87 percent while the S&P/ASX 200 soared 4.08 percent as the sectors mostly traded higher. Overall, the MSCI Asia ex-Japan index traded 1.21 percent higher. (Image Source: Reuters)
1. Asia: Stocks in Asia Pacific soared in morning trade on Wednesday following dramatic gains overnight on Wall Street as investors await the announcement of an enormous stimulus deal by U.S. lawmakers. The Nikkei 225 in Japan led gains among major markets in the region while the Topix index rose 4.45 percent. South Korea’s Kospi also saw robust gains as it jumped 3.87 percent while the S&P/ASX 200 soared 4.08 percent as the sectors mostly traded higher. Overall, the MSCI Asia ex-Japan index traded 1.21 percent higher. (Image Source: Reuters)
2. US: Stock futures were lower in overnight trading, following Tuesday’s historic rally, as investors awaited an unprecedented stimulus package to combat the economic impact of the coronavirus. The Dow Jones Industrial Average fell 117 points, pointing to a decline of around 94 points at the Wednesday open. S&P 500 futures and Nasdaq-100 futures also pointed to declines for the two indexes at the open on Wednesday. (Image Source: Reuters)
2. US: Stock futures were lower in overnight trading, following Tuesday’s historic rally, as investors awaited an unprecedented stimulus package to combat the economic impact of the coronavirus. The Dow Jones Industrial Average fell 117 points, pointing to a decline of around 94 points at the Wednesday open. S&P 500 futures and Nasdaq-100 futures also pointed to declines for the two indexes at the open on Wednesday. (Image Source: Reuters)
3. Market At Close On Tuesday: Indian market staged a bounce back to end more than 2.5 percent higher on Tuesday, but off day's high, after the Finance Minister Nirmala Sitharaman announced a slew of policy measures but delayed a major stimulus package. The Sensex ended 693 points higher at 26,674.03 while the Nifty gained 191 points to end at 7,801. Meanwhile, in the cash market, foreign institutional investors sold Rs 2,153 crore while the domestic institutional investors bought Rs 1,554 crore. (Image Source: Reuters)
3. Market At Close On Tuesday: Indian market staged a bounce back to end more than 2.5 percent higher on Tuesday, but off day's high, after the Finance Minister Nirmala Sitharaman announced a slew of policy measures but delayed a major stimulus package. The Sensex ended 693 points higher at 26,674.03 while the Nifty gained 191 points to end at 7,801. Meanwhile, in the cash market, foreign institutional investors sold Rs 2,153 crore while the domestic institutional investors bought Rs 1,554 crore. (Image Source: Reuters)
4. Crude Oil: Oil prices rose more than 3 percent on Tuesday on hopes that the United States will soon reach a deal on a $2 trillion coronavirus aid package that could blunt the economic impact of the outbreak and in turn support oil demand. Brent crude oil futures for May delivery gained 22 cents to trade at $27.27 per barrel, while West Texas Intermediate crude futures rose 65 cents, or 2.78 percent , to settle at $24.01 per barrel. (Image Source: AP)
4. Crude Oil: Oil prices rose more than 3 percent on Tuesday on hopes that the United States will soon reach a deal on a $2 trillion coronavirus aid package that could blunt the economic impact of the outbreak and in turn support oil demand. Brent crude oil futures for May delivery gained 22 cents to trade at $27.27 per barrel, while West Texas Intermediate crude futures rose 65 cents, or 2.78 percent , to settle at $24.01 per barrel. (Image Source: AP)
5. Rupee Close: The Indian rupee slipped 110 paise in today's session and ended near the record low at 76.29 per dollar. It has touched a record low of 76.32 per dollar amid huge selling seen in the domestic equity market as Sensex hit lower circuit in the early trade. It opened at 76.02 versus Friday's close of 75.19. However, it fell 500 paise (Rs 5) in almost over 2 months period. (Image Source: Reuters)
5. Rupee Close: The Indian rupee slipped 110 paise in today's session and ended near the record low at 76.29 per dollar. It has touched a record low of 76.32 per dollar amid huge selling seen in the domestic equity market as Sensex hit lower circuit in the early trade.
It opened at 76.02 versus Friday's close of 75.19. However, it fell 500 paise (Rs 5) in almost over 2 months period. (Image Source: Reuters)
6. PM Modi Announces Complete Lockdown: Prime Minister Narendra Modi, while addressing the nation for the second time on coronavirus on Tuesday, announced a complete lockdown across India for 21 days starting 12 am. He urged people to stay in their homes for the next 21 days to get rid of the spread of the virus that claimed ten lives so far in the country and has infected more than 500 people. “The country will be set back by 21 years if we don't manage these 21 days,” the PM said in a televised address on March 24. (Image Source: PTI)
6. PM Modi Announces Complete Lockdown: Prime Minister Narendra Modi, while addressing the nation for the second time on coronavirus on Tuesday, announced a complete lockdown across India for 21 days starting 12 am. He urged people to stay in their homes for the next 21 days to get rid of the spread of the virus that claimed ten lives so far in the country and has infected more than 500 people. “The country will be set back by 21 years if we don't manage these 21 days,” the PM said in a televised address on March 24. (Image Source: PTI)
7. FM Nirmala Sitharaman Extended Various Deadlines: Finance Minister Nirmala Sitharaman extended various statutory deadlines related to income tax to June 30. Aadhaar-pan linking deadline which was also ending on 31 March, has been extended to June 30. No extension of penalty on delayed deposit of TDS, and companies with turnover of less than 5 crore don't have to pay late fees or penalties. (Image Source: Reuters)
7. FM Nirmala Sitharaman Extended Various Deadlines: Finance Minister Nirmala Sitharaman extended various statutory deadlines related to income tax to June 30. Aadhaar-pan linking deadline which was also ending on 31 March, has been extended to June 30. No extension of penalty on delayed deposit of TDS, and companies with turnover of less than 5 crore don't have to pay late fees or penalties. (Image Source: Reuters)
8. ANMI Urges SEBI To Close Market: Stock brokers association Anmi on Tuesday asked market regulator Sebi to close stock exchanges for at least two days, which will give brokerage firms time to close their entire outstanding positions, in case all states do not declare stock broking as an essential service, exempted from lockdown. Meanwhile, the Centre on Monday requested chief secretaries of all states to exempt services of Sebi-regulated stock market entities as well as related workforce from the purview of lockdown imposed to curb spreading of coronavirus infections. (Image Source: Reuters)
8. ANMI Urges SEBI To Close Market: Stock brokers association Anmi on Tuesday asked market regulator Sebi to close stock exchanges for at least two days, which will give brokerage firms time to close their entire outstanding positions, in case all states do not declare stock broking as an essential service, exempted from lockdown. Meanwhile, the Centre on Monday requested chief secretaries of all states to exempt services of Sebi-regulated stock market entities as well as related workforce from the purview of lockdown imposed to curb spreading of coronavirus infections. (Image Source: Reuters)
9. Government Asks States, UTs To Pay Construction Workers: As coronavirus outbreak in the country has brought construction activities to a standstill, central government has issued an advisory for the states and Union Territories to provide financial assistance to workers engaged in the sector. Labour ministry on Tuesday issued an advisory to all states/UTs to use cess fund to support unorganised construction workers who sustain their livelihood on daily wages. (Image Source: AP)
9. Government Asks States, UTs To Pay Construction Workers: As coronavirus outbreak in the country has brought construction activities to a standstill, central government has issued an advisory for the states and Union Territories to provide financial assistance to workers engaged in the sector. Labour ministry on Tuesday issued an advisory to all states/UTs to use cess fund to support unorganised construction workers who sustain their livelihood on daily wages. (Image Source: AP)
10. Government Increases Insolvency Threshold For Small Firms: To help small companies facing the threat of defaults due to coronavirus-related lockdown, the government on Tuesday raised the threshold that would trigger insolvency proceedings to Rs 1 crore from current Rs 1 lakh. This raising of the threshold will help small and medium enterprises, union finance minister Nirmala Sitharaman said. Also, the government will consider suspending Sections 7, 9, 10 of the Insolvency and Bankruptcy Code (IBC) for six months if the current economic situation continues beyond April, she said, adding this would help companies being forced into insolvency on default of loans. (Image Source: Reuters)
10. Government Increases Insolvency Threshold For Small Firms: To help small companies facing the threat of defaults due to coronavirus-related lockdown, the government on Tuesday raised the threshold that would trigger insolvency proceedings to Rs 1 crore from current Rs 1 lakh. This raising of the threshold will help small and medium enterprises, union finance minister Nirmala Sitharaman said. Also, the government will consider suspending Sections 7, 9, 10 of the Insolvency and Bankruptcy Code (IBC) for six months if the current economic situation continues beyond April, she said, adding this would help companies being forced into insolvency on default of loans. (Image Source: Reuters)
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