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10 things you need to know before the opening bell on March 31

Updated : 2020-03-31 07:48:05

Indian shares are likely to open higher on Tuesday following its global peers that are currently in a rebound phase as many countries extended their lockdown in the wake of coronavirus. At 7:35 am, the SGX Nifty was trading 130 points higher at 8,473, indicating that the Sensex and the Nifty50 will open positively today.

1. Asia: Asian shares managed a tentative rally on Tuesday as factory data from China held out the hope of a rebound in activity even as other countries across the globe all but shut down. Japan's Nikkei firmed 1 percent after a jittery start, while South Korea added 2 percent. E-Mini futures for the S&P 500 added another 0.6 percent, supported by talk of book-keeping demand. (Image Source: Reuters)
1. Asia: Asian shares managed a tentative rally on Tuesday as factory data from China held out the hope of a rebound in activity even as other countries across the globe all but shut down. Japan's Nikkei firmed 1 percent after a jittery start, while South Korea added 2 percent. E-Mini futures for the S&P 500 added another 0.6 percent, supported by talk of book-keeping demand. (Image Source: Reuters)
2. US: US stocks rose on Monday as President Donald Trump followed last week's massive fiscal stimulus package by extending his stay-at-home guidelines, leaving investors to await more signs on the next stages of a deepening economic crisis. At 13:24 p.m. ET the Dow Jones Industrial Average was up 482.20 points, or 2.23 percent, at 22,118.98, the S&P 500 was up 66.06 points, or 2.60 percent, at 2,607.53 and the Nasdaq Composite was up 220.56 points, or 2.94 percent, at 7,722.94. (Image Source: AP)
2. US: US stocks rose on Monday as President Donald Trump followed last week's massive fiscal stimulus package by extending his stay-at-home guidelines, leaving investors to await more signs on the next stages of a deepening economic crisis. At 13:24 p.m. ET the Dow Jones Industrial Average was up 482.20 points, or 2.23 percent, at 22,118.98, the S&P 500 was up 66.06 points, or 2.60 percent, at 2,607.53 and the Nasdaq Composite was up 220.56 points, or 2.94 percent, at 7,722.94. (Image Source: AP)
3. Market At Close On Monday: Indian shares ended over 4 percent lower on Monday as the number of coronavirus infections in the country showed no signs of slowing in spite of a nationwide lockdown. The Sensex ended 1,375 points lower at 28,440, whereas the Nifty50 index lost 379 points to settle at 8,281. (Image Source: Reuters)
3. Market At Close On Monday: Indian shares ended over 4 percent lower on Monday as the number of coronavirus infections in the country showed no signs of slowing in spite of a nationwide lockdown. The Sensex ended 1,375 points lower at 28,440, whereas the Nifty50 index lost 379 points to settle at 8,281. (Image Source: Reuters)
4. Crude Oil: Oil recovered some ground on Tuesday as U.S. President Donald Trump and Russian President Vladimir Putin agreed to discuss stabilising energy markets, but prices remain near 18-year lows as the coronavirus shutdown destroys demand. Brent crude was up by 19 cents, or 0.8 percent, at $22.95 a barrel by 0051 GMT, after closing at $22.76 in the previous session, the lowest close since November 2002. U.S. crude was up by 59 cents, or 2.9 percent, at $20.68 a barrel, after settling down at $20.09, the lowest close since February 2002. (Image Source: Reuters)
4. Crude Oil: Oil recovered some ground on Tuesday as U.S. President Donald Trump and Russian President Vladimir Putin agreed to discuss stabilising energy markets, but prices remain near 18-year lows as the coronavirus shutdown destroys demand. Brent crude was up by 19 cents, or 0.8 percent, at $22.95 a barrel by 0051 GMT, after closing at $22.76 in the previous session, the lowest close since November 2002. U.S. crude was up by 59 cents, or 2.9 percent, at $20.68 a barrel, after settling down at $20.09, the lowest close since February 2002. (Image Source: Reuters)
5. Rupee Close: Indian rupee weakened today against the US dollar, tracking a selloff in domestic equity markets. A broadly stronger US dollar also weighed on the rupee. In comparison, the rupee had closed at 74.85 in the previous session. In today's session, rupee traded in the range of 75.10 to 75.63, before ending lower at 75.59. (Image Source: Reuters)
5. Rupee Close: Indian rupee weakened today against the US dollar, tracking a selloff in domestic equity markets. A broadly stronger US dollar also weighed on the rupee. In comparison, the rupee had closed at 74.85 in the previous session. In today's session, rupee traded in the range of 75.10 to 75.63, before ending lower at 75.59. (Image Source: Reuters)
6. GST Net Tax Collection Remains Stable: The impact of the novel coronavirus outbreak has been felt in the collection of the Goods and Services Tax (GST) for February, with the government collecting Rs 98,000 crore so far (till March 30, 2020), sources said. The collections are likely to remain around Rs 1 lakh crore and will be significantly short of the Rs 1.25 lakh crore the government had targeted in light of an uptick in economic activity that was being seen, sources added. Last year, GST collections for the month of February stood at roughly Rs 97,000 crore. (Stock Image)
6. GST Net Tax Collection Remains Stable: The impact of the novel coronavirus outbreak has been felt in the collection of the Goods and Services Tax (GST) for February, with the government collecting Rs 98,000 crore so far (till March 30, 2020), sources said. The collections are likely to remain around Rs 1 lakh crore and will be significantly short of the Rs 1.25 lakh crore the government had targeted in light of an uptick in economic activity that was being seen, sources added. Last year, GST collections for the month of February stood at roughly Rs 97,000 crore. (Stock Image)
7. Centre Funds States To Fight COVID-19: The government has budgeted a total of Rs 42,000 crore towards disaster relief in the FY21 budget. From April onwards, these budget lines will be available to states to fight against COVID-19 among other calamities. CNBC-TV18 has learnt that the states will get at least 20,000 cr as central share of the SDRF or State Disaster Response Fund. (Image Source: Reuters)
7. Centre Funds States To Fight COVID-19: The government has budgeted a total of Rs 42,000 crore towards disaster relief in the FY21 budget. From April onwards, these budget lines will be available to states to fight against COVID-19 among other calamities. CNBC-TV18 has learnt that the states will get at least 20,000 cr as central share of the SDRF or State Disaster Response Fund. (Image Source: Reuters)
8. India Not Extending Its Financial Year: The government has not changed the beginning of its financial year from April 1 to July 1 -- as is being claimed by some social media posts. The beginning of the fiscal year (2020-21) would begin normally on April 1. The government's clarification after a Gazette notification, which pertained to a change in dates for collection of stamp duties, was doing the rounds in some circles. The buzz around the extension of the current financial year also comes amid requests from certain quarters of the industry, which have requested the government to start FY2021 from July 1 instead of April 1. (File Photo: IANS)
8. India Not Extending Its Financial Year: The government has not changed the beginning of its financial year from April 1 to July 1 -- as is being claimed by some social media posts. The beginning of the fiscal year (2020-21) would begin normally on April 1. The government's clarification after a Gazette notification, which pertained to a change in dates for collection of stamp duties, was doing the rounds in some circles. The buzz around the extension of the current financial year also comes amid requests from certain quarters of the industry, which have requested the government to start FY2021 from July 1 instead of April 1. (File Photo: IANS)
9. SEBI On Credit Rating Agencies: After the Reserve Bank of India decided to permit a moratorium on loan services, working capital facilities, market regulator SEBI has also decided to provide temporary relaxations in compliances for Credit Rating Agencies (CRAs). SEBI has decided to give a differentiation in treatment of default to CRAs on a case to case basis. CRAs have been advised to not consider a delay in payment of interest/principle as a default case if they think that the failure has happened solely due to the nationwide lockdown or loan moratorium as per RBI directions. (Image Source: Reuters)
9. SEBI On Credit Rating Agencies: After the Reserve Bank of India decided to permit a moratorium on loan services, working capital facilities, market regulator SEBI has also decided to provide temporary relaxations in compliances for Credit Rating Agencies (CRAs). SEBI has decided to give a differentiation in treatment of default to CRAs on a case to case basis. CRAs have been advised to not consider a delay in payment of interest/principle as a default case if they think that the failure has happened solely due to the nationwide lockdown or loan moratorium as per RBI directions. (Image Source: Reuters)
10. Asian Development Bank To Invest In NIIF:  The Asian Development Bank (ADB) will invest $100 million into the National Investment and Infrastructure Fund (NIIF) fund of funds (FoF). The ADB joined the Government of India and Asian Infrastructure Investment Bank (AIIB) as an investor. With ADB’s investment into the NIIF platform, the FoF has now secured $700 million in commitments. The FoF invests in a variety of sectors and strategies through third-party managed funds. The funds are focused on a wide range of sectors, including green energy and climate, middle-income and affordable housing, and entrepreneur-driven mid-market growth companies operating across diversified sectors. (Image Source: Reuters)
10. Asian Development Bank To Invest In NIIF:  The Asian Development Bank (ADB) will invest $100 million into the National Investment and Infrastructure Fund (NIIF) fund of funds (FoF). The ADB joined the Government of India and Asian Infrastructure Investment Bank (AIIB) as an investor. With ADB’s investment into the NIIF platform, the FoF has now secured $700 million in commitments. The FoF invests in a variety of sectors and strategies through third-party managed funds. The funds are focused on a wide range of sectors, including green energy and climate, middle-income and affordable housing, and entrepreneur-driven mid-market growth companies operating across diversified sectors. (Image Source: Reuters)
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