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10 things you need to know before the opening bell on March 27

Updated : 2020-03-27 08:21:44

The Indian market is likely to open higher following gains in Asian markets as sentiment turned positive on hopes policymakers will roll out additional stimulus measures to fight with the deadly coronavirus that has hit economies severely. In India, finance minister Nirmala Sitharaman made a number of announcements to help poor and those hurt by the virus. RBI governor Shaktikanta Das is also set to address media at 10 am today. Here are the top 10 things to know before the opening bell:

1. Asia: Stocks in Asia jumped in Friday morning trade after the Dow Jones Industrial Average soared overnight to its biggest 3-day surge since 1931. South Korean stocks led gains among the region’s major markets, with the Kospi up 3.14 percent while the Kosdaq index rose 4.29 percent. In Japan, the Nikkei 22 jumped 2.07 percent in early trade while the Topix index gained 2.5 percent. Meanwhile, stocks in Australia edged higher, with the S&P/ASX 200 up about 0.3 percent. Overall, the MSCI Asia ex-Japan index traded 0.6 percent higher. (Image Source: Reuters)
1. Asia: Stocks in Asia jumped in Friday morning trade after the Dow Jones Industrial Average soared overnight to its biggest 3-day surge since 1931. South Korean stocks led gains among the region’s major markets, with the Kospi up 3.14 percent while the Kosdaq index rose 4.29 percent. In Japan, the Nikkei 22 jumped 2.07 percent in early trade while the Topix index gained 2.5 percent. Meanwhile, stocks in Australia edged higher, with the S&P/ASX 200 up about 0.3 percent. Overall, the MSCI Asia ex-Japan index traded 0.6 percent higher. (Image Source: Reuters)
2. US: Stocks surged for a third straight day Thursday as investors shrugged off the release of record-breaking initial jobless claims while the Senate passed a massive economic stimulus bill amid the coronavirus outbreak. The Dow Jones Industrial Average jumped 1,351.62 points, or 6.4 percent, to close at 22,552.17. The Dow capped off its biggest three-day surge since 1931. The S&P 500 also posted a three-day winning streak, rising 6.2 percent to 2,630.07. The Nasdaq Composite advanced 5.6 percent to 7,797.54. (Image Source: AP)
2. US: Stocks surged for a third straight day Thursday as investors shrugged off the release of record-breaking initial jobless claims while the Senate passed a massive economic stimulus bill amid the coronavirus outbreak. The Dow Jones Industrial Average jumped 1,351.62 points, or 6.4 percent, to close at 22,552.17. The Dow capped off its biggest three-day surge since 1931. The S&P 500 also posted a three-day winning streak, rising 6.2 percent to 2,630.07. The Nasdaq Composite advanced 5.6 percent to 7,797.54. (Image Source: AP)
3. Market At Close On Thursday: Indian shares rose for the third straight session on Thursday as Finance Minister Nirmala Sitharaman announced a domestic stimulus to fight the impact of the coronavirus. The sentiment was also upbeat after the US announced a $2 trillion stimulus package to fight the deadly virus. The Sensex ended 1,411 points higher at 29,947, while the Nifty rose 336 points to settle at 8,653. (Image Source: Reuters)
3. Market At Close On Thursday: Indian shares rose for the third straight session on Thursday as Finance Minister Nirmala Sitharaman announced a domestic stimulus to fight the impact of the coronavirus. The sentiment was also upbeat after the US announced a $2 trillion stimulus package to fight the deadly virus. The Sensex ended 1,411 points higher at 29,947, while the Nifty rose 336 points to settle at 8,653. (Image Source: Reuters)
4. Crude Oil: Oil prices fell on Thursday following three days of gains, with the prospect of rapidly dwindling demand due to coronavirus travel bans and lockdowns offsetting hopes a U.S. $2 trillion emergency stimulus will shore up economic activity. West Texas Intermediate (WTI) crude futures slipped 7.7 percent, or $1.89, to settle at $22.60 per barrel, while Brent crude futures fell $1.01, or 3.69 percent, to trade at $26.43 per barrel. (Image Source: Reuters)
4. Crude Oil: Oil prices fell on Thursday following three days of gains, with the prospect of rapidly dwindling demand due to coronavirus travel bans and lockdowns offsetting hopes a U.S. $2 trillion emergency stimulus will shore up economic activity. West Texas Intermediate (WTI) crude futures slipped 7.7 percent, or $1.89, to settle at $22.60 per barrel, while Brent crude futures fell $1.01, or 3.69 percent, to trade at $26.43 per barrel. (Image Source: Reuters)
5. Rupee Close: Indian rupee rose sharply against the US dollar today, tracking strong gains in domestic equity markets. After opening at 75.88 per dollar, the rupee moved to 75.09 at day's high, as compared to the previous close of 76.10. So far during the day, the rupee traded in the range of 75.09 to 75.96 per dollar during the day, before settling higher at 75.15. (Image Source: Reuters)
5. Rupee Close: Indian rupee rose sharply against the US dollar today, tracking strong gains in domestic equity markets. After opening at 75.88 per dollar, the rupee moved to 75.09 at day's high, as compared to the previous close of 76.10. So far during the day, the rupee traded in the range of 75.09 to 75.96 per dollar during the day, before settling higher at 75.15. (Image Source: Reuters)
6. Coronovirus Package By The Finance Minister: Nirmala Sitharaman on Thursday announced distribution of 5 kg of wheat or rice and one kg of preferred pulses free-of-cost every month over the next three months to 80 crore poor across the country to deal with the economic impact of the lockdown amid the coronavirus outbreak. Also, the daily wage under MNREGA has been increased to Rs 202 a day from Rs 182 to benefit 5 crore workers. The finance minister said that the government will front-load Rs 2,000 payment to farmers in the first week of April under the existing PM Kishan Yojana to benefit 8.69 crore farmers. (Image Source: AP)
6. Coronovirus Package By The Finance Minister: Nirmala Sitharaman on Thursday announced distribution of 5 kg of wheat or rice and one kg of preferred pulses free-of-cost every month over the next three months to 80 crore poor across the country to deal with the economic impact of the lockdown amid the coronavirus outbreak. Also, the daily wage under MNREGA has been increased to Rs 202 a day from Rs 182 to benefit 5 crore workers. The finance minister said that the government will front-load Rs 2,000 payment to farmers in the first week of April under the existing PM Kishan Yojana to benefit 8.69 crore farmers. (Image Source: AP)
7. US Senate Passes Coronavirus Stimulus Bill: The US Senate on Wednesday overwhelmingly backed a $2 trillion bill aimed at helping unemployed workers and industries hurt by the coronavirus epidemic, as well as providing billions of dollars to buy urgently needed medical equipment. President Donald Trump, whose top aides helped negotiate the bipartisan measure, promised to sign it into law as soon as it reaches his desk. “I will sign it immediately,” Trump told reporters on Wednesday. (Image Source: AP)
7. US Senate Passes Coronavirus Stimulus Bill: The US Senate on Wednesday overwhelmingly backed a $2 trillion bill aimed at helping unemployed workers and industries hurt by the coronavirus epidemic, as well as providing billions of dollars to buy urgently needed medical equipment. President Donald Trump, whose top aides helped negotiate the bipartisan measure, promised to sign it into law as soon as it reaches his desk. “I will sign it immediately,” Trump told reporters on Wednesday. (Image Source: AP)
8. G20 Leaders Pledge $5 trillion:  G20 nations pledged a
8. G20 Leaders Pledge $5 trillion:  G20 nations pledged a "united front" on Thursday in the fight against coronavirus, saying they were injecting $5 trillion into the global economy to counter the pandemic amid forecasts of a deep recession. US President Donald Trump and Russian President Vladimir Putin joined the emergency videoconference chaired by Saudi Arabia's King Salman, who called for coordinated action while facing pressure to end an oil price war between Riyadh and Moscow that has roiled energy markets. "We are strongly committed to presenting a united front against this common threat," the leaders said in a joint statement after the summit. (Image Source: Reuters)
9. Banks Announce Emergency Credit Lines: Several public sector banks have announced emergency credit lines to provide liquidity relief to borrowers impacted by the coronavirus spread related lockdown. State Bank of India, Union Bank of India, Bank of India and Indian Bank were the first of the lot to announce these relief schemes. State Bank of India has introduced a limited-period scheme, called the COVID Emergency Credit Line (CELC). Bank of India has announced special loans for those affected by COVID, across its MSME, Corporate and Retail segments. (Image Source: Reuters)
9. Banks Announce Emergency Credit Lines: Several public sector banks have announced emergency credit lines to provide liquidity relief to borrowers impacted by the coronavirus spread related lockdown. State Bank of India, Union Bank of India, Bank of India and Indian Bank were the first of the lot to announce these relief schemes. State Bank of India has introduced a limited-period scheme, called the COVID Emergency Credit Line (CELC). Bank of India has announced special loans for those affected by COVID, across its MSME, Corporate and Retail segments. (Image Source: Reuters)
10. World Food Security At Risk: Global food security concerns are mounting with around a fifth of the world's population already under lockdown to fight the widening coronavirus pandemic that has infected over 470,000 people across 200 countries, killing 21,000. Panic buying of household staples like toilet paper and cleaning products have occurred in nearly every country hit by the virus, and empty shelves in supermarkets have been common. Vietnam, the third largest rice exporter, and Kazakhstan, the number nine wheat exporter, have already made moves to restrict sales of those staples amid concerns over domestic availability. On the importer side, Iraq announced it needs 1 million tonnes of wheat and 250,000 tonnes of rice after a
10. World Food Security At Risk: Global food security concerns are mounting with around a fifth of the world's population already under lockdown to fight the widening coronavirus pandemic that has infected over 470,000 people across 200 countries, killing 21,000.
Panic buying of household staples like toilet paper and cleaning products have occurred in nearly every country hit by the virus, and empty shelves in supermarkets have been common. Vietnam, the third largest rice exporter, and Kazakhstan, the number nine wheat exporter, have already made moves to restrict sales of those staples amid concerns over domestic availability. On the importer side, Iraq announced it needs 1 million tonnes of wheat and 250,000 tonnes of rice after a "crisis committee" advised building up strategic food stocks. (Image Source: Reuters)
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