1. Asia: Stocks in Asia Pacific were little changed in Tuesday morning trade, as investors await the release of Chinese inflation data expected to be out later in the day. In Japan, both the Nikkei 225 and Topix index were largely flat in early trade. South Korea’s Kospi dipped 0.38 percent.Meanwhile, the S&P/ASX 200 in Australia slipped 0.67 percent. Overall, the MSCI Asia ex-Japan index traded 0.3 percent lower. On the economic data front, China’s inflation data for April is expected on Tuesday, with both the Consumer Price Index and Producer Price Index for the month. (Image Source: Reuters)
2. US: Stocks futures fell slightly in overnight trading on Monday as investors evaluated the latest attempts to reopen the economy. Futures on Dow Jones Industrial Average dipped about 80 points, while the S&P 500 futures were trading 10 points lower. The Nasdaq 100 futures fell about 15 points. The tech-heavy Nasdaq Composite rose for a sixth day in the previous session, posting its longest winning streak this year. (Image Source: Reuters)
3. Market At Close On Monday: Indian indices pared opening gains to end in the red on Monday as bank stocks turned negative dragged by ICICI Bank, Kotak Bank, and HDFC twins. Nifty Bank and Nifty Fin Services fell over 1.5 percent each as the sector is expected to suffer a fresh bout of bad debt as the coronavirus crisis causes defaults. The Senex ended 81 points lower at 31,561, while the Nifty fell 12 points to settle at 9,239. (Image Source: Reuters)
4. Crude Oil: Oil moved lower on Monday as coronavirus-induced demand fears outweighed Saudi Arabia announcing additional production cuts in an effort to support prices. West Texas Intermediate, the U.S. benchmark, shed 60 cents, or 2.43 percent, to settle at $24.14 per barrel. In a volatile session WTI traded as high as $25.58, and as low as $23.67. International benchmark Brent crude fell $1.37, or 4.4 percent, to settle at $29.60 per barrel. (Image Source: Reuters)
5. Rupee Close: The rupee slipped 19 paise to close at 75.73 against the US dollar on Monday as strengthening American currency overseas and rising coronavirus cases in the country weighed on investor sentiment. Forex traders said while positive domestic equities supported the local unit, market participants were concerned about the impact of spiking coronavirus cases on the economy. The local unit opened at 75.55, then lost further ground and finally settled at 75.73 against the greenback, down 19 paise over its previous close. (Image Source: Reuters)
6. PM Modi Tells States May Have To Continue Lockdown: Prime Minister Narendra Modi has told the state chief ministers that the lockdown may have to continue after May 17. He made the remark after chairing a fresh round of consultation with chief ministers on ways to strengthen the COVID-19 containment strategy. Modi told the chief ministers that the states should submit their suggestions about graded opening to the Centre by May 15, according to sources in the know. The Prime Minister noted that measures needed in the first phase of lockdown were not needed during the second phase and similarly the measures needed in the third phase are unlikely in the fourth. (Image Source: Reuters)
7. Balanced Strategy Is Needed, Says PM Modi: India will have to devise and implement a "balanced strategy" to deal with the coronavirus pandemic, and the biggest challenge for the country will be to ensure that the infection does not spread to villages, Prime Minister Narendra Modi told chief ministers on Monday during a video conference. Appreciating the role played by the states in the fight against the pandemic, Modi said the entire world is of the view that India has been able to successfully protect itself from the pandemic, according to official sources.The "problems" have increased wherever the social distancing norms were not followed or there has been laxity in implementation of the lockdown guidelines, Modi told the chief ministers. (Image Source: Reuters)
8. Nitin Gadkari On Financial Package: Union minister Nitin Gadkari on Monday said he expects the Centre to unveil a financial package in two-three days, observing that the situation "was very bad" despite the three-month moratorium on loan repayments announced by the RBI. The minister for MSME, and Road Transport and Highways said the government stands with the industry but it also needs to understand the government's limitations. "We are trying our level best on how we can protect everybody," Gadkari said, adding that while Japan and the US governments have announced mega packages, their economies are bigger than India's. (Image Source: Reuters)
9. Government Extends Deadline For Seeding Aadhaar With Ration Cards: The food ministry on Monday said the deadline for seeding of Aadhaar with ration cards has been extended till September and stressed that all beneficiaries will continue to get their quota of foodgrains even if they do not possess the biometric identifier. The ministry issued this clarification on reports that ration cards of those who do not provide Aadhar number will be cancelled. (File Photo: IANS)
10. FY21 Fiscal Deficit Likely At 5.8%, Says Report: After the government's move to raise its market borrowing programme for the current financial year by Rs 4.2 lakh crore, a foreign brokerage on Monday estimated the fiscal deficit to come at 5.8 percent of the GDP in FY21 as against the budget target of 3.5 percent. In a report, analysts at Bank of America also revised down their GDP growth estimate to 0.5 percent for the current fiscal year, as against the earlier estimate of 1.5 percent adding that they fear that the lockdown my extend beyond May. (Image Source: Reuters)