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09-Apr-2020   08:37 Hrs IST Benchmarks to make positive start amid firm global cues <p align="justify">Indian markets ended lower on Wednesday in the wake of rising new coronavirus cases. Today, the start of session is likely to be positive following firm cues from global markets. Investors will be looking ahead to the Index of Industrial Production (IIP) data to be out later in the day. Traders will be getting encouragement with a private report stating that a second stimulus package India is poised to announce in coming days will be worth around Rs 1 lakh crore ($13 billion) and focus on help for small and medium businesses weathering the coronavirus outbreak. Some support will also come as the Ministry of Corporate Affairs issued a slew of measures to facilitate the functioning of companies as they grapple with the ongoing nationwide lockdown due to the coronavirus pandemic. Though, there may be some cautiousness with rising coronavirus cases. The number of coronavirus cases in the country reached 5,916, with 178 deaths. Traders may be concerned with the United Nations' International Labour Organization (ILO) in its latest report stating that about 400 million people working in the informal economy in India are at risk of falling deeper into poverty due to the coronavirus crisis which is having catastrophic consequences, and is expected to wipe out 195 million full-time jobs or 6.7% of working hours globally in the second quarter of this year. Traders may take note of report that India Inc has sought an economic package from the Centre to tide over the impact of the coronavirus outbreak and support small and medium businesses to keep their enterprises afloat while catering to the needs of the poor and informal sector workers. Aviation stocks will be on focus with a private report that private Indian airports are staring at a steep 40-60 per cent fall in passenger volume this financial year due to the Covid-19 crisis.</p><p align="justify">The US markets ended higher on Wednesday after President Donald Trump said Americans might be getting to the top of the curve in relation to the outbreak. Asian markets are trading mostly in green on Thursday on hopes the Covid-19 pandemic is nearing a peak and that governments would roll out more stimulus measures.<br></p><p align="justify">Back home, in a volatile trading session, Indian equity benchmarks traded with a positive bias for most part of the day but selling activity which took place during late hour of trade mainly forced the markets to cut all of their gains and ended Wednesday's session in red terrain amid weakness in global equities. Key indices started off with marginal losses, as traders remained on sidelines as the central government mulls over lockdown extension beyond April 14 amid the spread of coronavirus. The total number of confirmed Covid-19 cases in India stand at 4,789 as the country entered the fifteenth day of a 21-day countrywide lockdown to curb the spread of the deadly disease. Around 124 people have died due to the disease. But, markets rebounded from the opening losses and surged at day's high in late morning deals, as traders turned optimistic with Niti Aayog member Ramesh Chand's statement that the government has taken several measures to safeguard farmers from any adverse impact of the ongoing lockdown, and the farm sector is expected to report a growth of little more than 3 per cent in the just-ended financial year. Adding some relief, the Small Industries Development Bank of India (SIDBI) said it will provide emergency working capital of up to Rs 1 crore to small and medium enterprises against their confirmed government orders. Though, key indices failed to hold gains and slid lower in the last hour of trading, as ratings agency ICRA predicted that India's economy is likely to witness a sharp contraction of 4.5 per cent during Q4FY2020 and is expected to post a GDP growth of just 2 percent in FY2021. Finally, the BSE Sensex lost 173.25 points or 0.58% to 29,893.96, while the CNX Nifty was down by 43.45 points or 0.49% to 8,748.75.<br></p>
08-Apr-2020   08:27 Hrs IST Benchmarks to make negative start on Wednesday <p align="justify">Indian markets ended significantly higher on Tuesday as investors looked for more central bank and government stimulus to counter the economic fallout from the pandemic. Today, the markets are likely to get negative start amid weakness in global peers. Investors may react to reports suggesting that the government is mulling extending the nationwide coronavirus lockdown beyond April 14 amid requests from the States. The total number of confirmed Covid-19 cases in India stands at 4,789 as the country entered the fifteenth day of a 21-day countrywide lockdown to curb the spread of the deadly disease. Around 124 people have died due to the disease. There will be some cautiousness as ratings agency ICRA predicted that India's economy is likely to witness a sharp contraction of 4.5 per cent during Q4FY2020 and is expected to post a GDP growth of just 2 percent in FY2021. Traders may take note of former finance secretary Subhash Chandra Garg's statement that the Centre may need to borrow 2-2.5 per cent of GDP or about Rs 4-5 lakh crore additionally for supporting people and businesses hit hard by the coronavirus outbreak and nationwide lockdown. Meanwhile, to provide greater flexibility to state governments to tide over cash flow mismatches, the Reserve Bank of India (RBI) has increased the number of days for which a state or a Union Territory (UT) can be in overdraft at a stretch to 21 working days from 14 at present. Sugar stocks will be in focus amid private report that sugar mills have urged government-owned oil marketing companies (OMCs) to float the third tender for ethanol procurement because of the expectations of excess production of the green fuel on additional quantity of cane being crushed this season.</p><p align="justify">The US markets ended lower on Tuesday as New York Governor Andrew Cuomo revealed that coronavirus deaths in his state spiked by 731, reflecting the biggest one-day increase. Asian markets are trading mostly in red on Wednesday as investors continue to weigh signs of a slowing rate of the Covid-19 spread against more deaths.<br></p><p align="justify"></p><p align="justify">Back home, Indian equity benchmarks witnessed biggest single-day gain ever in absolute terms on Tuesday by rallying over eight and half percent in the session, tracking gains in Asian markets, even as domestic Covid-19 cases continue to rise in the country. Key gauges opened with a strong gap on the upside and traded jubilantly for whole day as traders took encouragement with report that the Finance Ministry is working on a second relief package for the Indian economy hit hard by the coronavirus outbreak and the 21-day nationwide lockdown imposed to curb the contagion. Some solace also came in as to ensure adequate liquidity in the system, especially in the corporate bond market, the Reserve Bank of India (RBI) announced the third targeted long-term repo operation (TLTRO) on April 7 for Rs 25,000 crore. Markets continued their strong bullish momentum in late trade as the commerce ministry designed an online platform for issuance of a key document required for exports to those countries with which India has trade agreements, with a view to facilitate shipments during the COVID-19 crisis. Traders ignored Fitch Ratings' statement that it has slashed India's growth forecast for the current fiscal to a 30-year low of 2%, from 5.1% projected earlier, as economic recession gripped global economy following the lockdown due to COVID-19 pandemic. Investors also paid no heed towards a report that India's services sector growth contracted in March after registering the strongest rise in business activity for over seven years in February, as the covid-19 outbreak dented client demand, particularly in overseas markets. Services Purchasing Managers' Index (PMI) fell to 49.3 from 57.5 in February. Finally, the BSE Sensex gained 2476.26 points or 8.97% to 30,067.21, while the CNX Nifty was up by 708.40 points or 8.76% to 8,792.20.<br></p>
07-Apr-2020   08:22 Hrs IST Markets likely to get gap-up opening amid rebound in global peers
03-Apr-2020   08:22 Hrs IST Markets likely to get slightly negative start on Friday
01-Apr-2020   08:27 Hrs IST Markets likely to get cautious start on Wednesday
31-Mar-2020   08:22 Hrs IST Benchmarks to get gap-up opening following firm global cues
30-Mar-2020   08:33 Hrs IST Benchmarks to make gap-down opening of new week
27-Mar-2020   08:25 Hrs IST Benchmarks likely to make optimistic start; RBI press meet in focus
26-Mar-2020   08:29 Hrs IST Markets to get flat-to-negative start of F&O expiry session
25-Mar-2020   08:33 Hrs IST Benchmarks likely to open in red amid lockdown