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10 things you need to know before the opening bell on March 30

Updated : March 30, 2021 08:09 AM IST

Indian indices are likely to open higher on Tuesday following mixed global cues in the holiday-shortened week. The domestic market was closed on Monday and will also remain close on Friday. Meanwhile, SGX Nifty was trading at levels around 14,800 versus Nifty April Fut’s Friday close of 14,608, indicating a gap-up opening for Indian equities today.

 1. US Stocks  | Wall Street’s main indexes ended mixed on Monday, as global banks said they faced potential losses from a hedge fund’s default on margin calls. The Dow Jones Industrial Average rose 98.49 points, or 0.3 percent, to 33,171.37, the S&P 500 lost 3.45 points, or 0.09 percent, to 3,971.09 and the Nasdaq Composite dropped 79.08 points, or 0.6 percent, to 13,059.65.
1. US Stocks | Wall Street’s main indexes ended mixed on Monday, as global banks said they faced potential losses from a hedge fund’s default on margin calls. The Dow Jones Industrial Average rose 98.49 points, or 0.3 percent, to 33,171.37, the S&P 500 lost 3.45 points, or 0.09 percent, to 3,971.09 and the Nasdaq Composite dropped 79.08 points, or 0.6 percent, to 13,059.65.
 2. Asian Markets  | Asian shares were set to open higher on Tuesday as investors shook off earlier worries about a hedge fund default that roiled global banking stocks overnight, while rekindled concerns about inflation pushed bond yields higher. MSCI’s broadest index of Asia-Pacific shares outside Japan traded below the flatline.
2. Asian Markets | Asian shares were set to open higher on Tuesday as investors shook off earlier worries about a hedge fund default that roiled global banking stocks overnight, while rekindled concerns about inflation pushed bond yields higher. MSCI’s broadest index of Asia-Pacific shares outside Japan traded below the flatline.
 3. Indian Market on Friday  | Indian shares rebounded from near two-month lows to settle over 1 percent higher on Friday, driven by gains in beaten-down bank and metal stocks. The Sensex ended 568 points higher at 49,008 while the Nifty rose 182 points to settle at 14,507. Meanwhile, broader markets were also positive for the day with the midcap and smallcap indices up 1-1.5 percent. Indian market remained closed on Monday.
3. Indian Market on Friday | Indian shares rebounded from near two-month lows to settle over 1 percent higher on Friday, driven by gains in beaten-down bank and metal stocks. The Sensex ended 568 points higher at 49,008 while the Nifty rose 182 points to settle at 14,507. Meanwhile, broader markets were also positive for the day with the midcap and smallcap indices up 1-1.5 percent. Indian market remained closed on Monday.
 4. Crude Oil  | Oil prices fell on Tuesday as shipping traffic resumed through the Suez Canal after days on hold and attention switched to an OPEC+ meeting this week where the extension of supply curbs may be on the table amid new coronavirus pandemic lockdowns. Brent crude was down 15 cents, or 0.2 percent, at $64.83 a barrel, after gaining 0.6 percent on Monday. US oil was down 1 cent at $61.55 a barrel, having fallen 1 percent in the previous session.
4. Crude Oil | Oil prices fell on Tuesday as shipping traffic resumed through the Suez Canal after days on hold and attention switched to an OPEC+ meeting this week where the extension of supply curbs may be on the table amid new coronavirus pandemic lockdowns. Brent crude was down 15 cents, or 0.2 percent, at $64.83 a barrel, after gaining 0.6 percent on Monday. US oil was down 1 cent at $61.55 a barrel, having fallen 1 percent in the previous session.
 5. Rupee  | The rupee snapped its three-day losing streak and closed 11 paise higher at 72.51 against the US dollar on Friday, supported by positive domestic equities and weakening of the American currency in the overseas market. At the interbank forex market, the local unit opened at 72.51 against the greenback and witnessed an intra-day high of 72.37 and a low of 72.53. It finally ended at 72.51, registering a rise of 11 paise over its previous closing. On Thursday, the rupee had settled at 72.62.
5. Rupee | The rupee snapped its three-day losing streak and closed 11 paise higher at 72.51 against the US dollar on Friday, supported by positive domestic equities and weakening of the American currency in the overseas market. At the interbank forex market, the local unit opened at 72.51 against the greenback and witnessed an intra-day high of 72.37 and a low of 72.53. It finally ended at 72.51, registering a rise of 11 paise over its previous closing. On Thursday, the rupee had settled at 72.62.
 6. Traffic in Suez Canal resumes after stranded ship refloated  | Egypt's Suez Canal will reopen for shipping traffic in both directions on Monday evening after a giant container ship which had been blocking the busy waterway for almost a week was refloated, with more than 400 ships waiting to pass through. The Suez Canal Authority's chairman Osama Rabie said the channel was navigable after the 400-metre (430-yard) long vessel Ever Given was freed undamaged earlier on Monday.
6. Traffic in Suez Canal resumes after stranded ship refloated | Egypt's Suez Canal will reopen for shipping traffic in both directions on Monday evening after a giant container ship which had been blocking the busy waterway for almost a week was refloated, with more than 400 ships waiting to pass through. The Suez Canal Authority's chairman Osama Rabie said the channel was navigable after the 400-metre (430-yard) long vessel Ever Given was freed undamaged earlier on Monday.
 7. Global banks warn of possible losses from hedge fund default  | Credit Suisse said it may have suffered a highly significant loss from a default by a US-based hedge fund on margin calls that it and other banks made last week, while Japan's Nomura said it could face a loss of USD 2 billion due to an event with a US client. Credit Suisse didn't identify the significant hedge fund or the other banks affected, or give other details of what happened. News reports identified the hedge fund as New York-based Archegos Capital Management. Following the failure of the fund to meet these margin commitments, Credit Suisse and a number of other banks are in the process of exiting these positions, the company said.
7. Global banks warn of possible losses from hedge fund default | Credit Suisse said it may have suffered a highly significant loss from a default by a US-based hedge fund on margin calls that it and other banks made last week, while Japan's Nomura said it could face a loss of USD 2 billion due to an event with a US client. Credit Suisse didn't identify the significant hedge fund or the other banks affected, or give other details of what happened. News reports identified the hedge fund as New York-based Archegos Capital Management. Following the failure of the fund to meet these margin commitments, Credit Suisse and a number of other banks are in the process of exiting these positions, the company said.
 8. Govt unlikely to continue with zero-coupon bond route to recap PSU banks  | The government is unlikely to take zero-coupon bond route to further recapitalise public sector banks after the Reserve Bank expressed some concerns in this regard, PTI reported quoting sources. The government would resort back to recapitalisation bonds bearing a coupon rate for capital infusion in these banks.
8. Govt unlikely to continue with zero-coupon bond route to recap PSU banks | The government is unlikely to take zero-coupon bond route to further recapitalise public sector banks after the Reserve Bank expressed some concerns in this regard, PTI reported quoting sources. The government would resort back to recapitalisation bonds bearing a coupon rate for capital infusion in these banks.
 9. Amid surge in COVID-19 cases, RBI likely to maintain status quo: Experts  | Amid uncertainty created by surge in coronavirus cases, the Reserve Bank of India (RBI) is likely to maintain status quo at its next monetary policy review and wait for some more time before taking any action to spur growth. The RBI is slated to announce its first bi-monthly monetary policy of 2021-22 fiscal on April 7, 2021, after a three-day meeting of the Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das. On February 5, after the last MPC meet, the central bank had kept the key interest rate (repo) unchanged citing inflationary concerns.
9. Amid surge in COVID-19 cases, RBI likely to maintain status quo: Experts | Amid uncertainty created by surge in coronavirus cases, the Reserve Bank of India (RBI) is likely to maintain status quo at its next monetary policy review and wait for some more time before taking any action to spur growth. The RBI is slated to announce its first bi-monthly monetary policy of 2021-22 fiscal on April 7, 2021, after a three-day meeting of the Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das. On February 5, after the last MPC meet, the central bank had kept the key interest rate (repo) unchanged citing inflationary concerns.
 10. New SEBI rule on spoofing will disable errant traders for 15 minutes and more from Apr 5  | To curb instances of ‘spoofing’ in the stock market, commodities and capital market regulator Securities & Exchange Board of India (Sebi) has announced a set of measures to be effective April 5. From that date, traders who repeatedly modify their orders without those trades getting executed will have their accounts disabled for a duration depending on the extent of violations.
10. New SEBI rule on spoofing will disable errant traders for 15 minutes and more from Apr 5 | To curb instances of ‘spoofing’ in the stock market, commodities and capital market regulator Securities & Exchange Board of India (Sebi) has announced a set of measures to be effective April 5. From that date, traders who repeatedly modify their orders without those trades getting executed will have their accounts disabled for a duration depending on the extent of violations.
Published : March 30, 2021 08:09 AM IST
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