Performance in March has eclipsed declines during events such as demonetisation in late 2016, implementation of the goods and services tax (GST) in 2017 and the global financial crisis of 2008, experts said. Passenger vehicle sales are seen at 145,000-150,000 units in March, halving from the year-ago month. Two-wheeler sales are expected to have slipped below a million units.
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Tuesday 31 March 2020
IndusInd falls 15% on worries over asset quality, growth numbers
Analyst Calls: L&T, Voltas, M&M, Just Dial
Crude oil gains as US considers production cuts
It is time for US to participate in balancing the oil market as Russia-Saudi Arabia#39;s price war hurts crude.
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US plans to lease space to energy companies to store oil in emergency reserve
Trump ordered the Department of Energy, or DOE, on March 13 to take advantage of low oil prices and fill the reserve "to the top", in an effort to help domestic drillers suffering from the global oil price drop. But carrying out the order has been tricky.
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With 2020 race all but halted over coronavirus, Biden quietly widens lead over Trump - Reuters/Ipsos poll
The poll conducted on March 30-31 of more than 1,100 American adults found that 46 percent of registered voters said they would support Biden if he were running against Trump in the November 3 election, while 40 percent said they would vote for Trump.
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What changed for the market while you were sleeping? Top 12 things to know
Trends on SGX Nifty indicate a negative opening for the index in India with a 44 points loss.
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Coronavirus pandemic | Trump warns Americans of a tough two weeks ahead in COVID-19 fight
"It#39;s absolutely critical for the American people to follow the guidelines for the next 30 days. It#39;s a matter of life and death," Trump said during a news conference at the White House.
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from Moneycontrol Latest News https://www.moneycontrol.com/news/health/coronavirus-pandemic-|-trump-warns-americansa-tough-two-weeks-aheadcovid-19-fight_13632161.html
Mega-merger of PSU banks to be effective from today; 6 banks cease to exist
The exercise assumes significance as it is taking place at a time when the entire country is under the grip of the COVID-19 outbreak, which has triggered a 21-day lockdown.
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IMF can develop innovative methods for meeting COVID-19 related financing requirements: FM Sitharaman at G20
On the issue of swap arrangements, the finance minister encouraged IMF to use its existing resources to create a non-stigmatised short-term liquidity swap facility which could be rapidly deployed as and when needed by the countries.
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SC urges media not to disseminate unverified news that causes panic
"We do not intend to interfere with the free discussion about the pandemic, but direct the media refer to and publish the official version about the developments," the apex court order said.
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Asian stocks under pressure after biggest quarterly drop since 2008
MSCI#39;s broadest index of Asia-Pacific shares outside Japan gained 0.35% in early trade.
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Coronavirus impact: Japan business mood negative for first time in seven years
Non-manufacturers#39; sentiment also worsened to levels not seen in seven years as travel bans, event cancellations and social distancing policies hurt consumption, the Bank of Japan#39;s "tankan" quarterly survey showed on April 1, clouding an already darkening outlook for the economy.
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Coronavirus News India LIVE Updates: COVID-19 worst crisis since World War II, says UN chief
Live updates of the novel coronavirus pandemic and its economic impact. Total confirmed cases in India have risen to 1,397.
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Oil prices mixed, US inventory build-up heightens oversupply concerns
Brent crude was down by 21 cents, or 0.8%, at $26.14 a barrel by 0032 GMT, while U.S. West Texas Intermediate crude was up by 27 cents, or 1.3%, at $20.75 a barrel.
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SP 500 heads for biggest ever first-quarter plunge
The Dow Jones Industrial Average fell 313.21 points, or 1.4%, to 22,014.27, the SP 500 lost 39.15 points, or 1.49%, to 2,587.5 and the Nasdaq Composite dropped 77.74 points, or 1%, to 7,696.41.
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Gold recovers from 3% slump as dollar, Asian equities ease
Spot gold was up 0.4% at $1,577.83 per ounce, as of 0030 GMT, having slumped 3.1% in the previous session. U.S. gold futures slipped 0.3% to $1,591.30.
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Currency market to remain shut for 2 days
On March 31, the Indian rupee ended flat at 75.62 per dollar against Monday#39;s closing of 75.61.
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Asian stocks under pressure after biggest quarterly drop since 2008
MSCI#39;s broadest index of Asia-Pacific shares outside Japan gained 0.35% in early trade.
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SP 500 heads for biggest ever first-quarter plunge
The Dow Jones Industrial Average fell 313.21 points, or 1.4%, to 22,014.27, the SP 500 lost 39.15 points, or 1.49%, to 2,587.5 and the Nasdaq Composite dropped 77.74 points, or 1%, to 7,696.41.
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Hot Stocks | CESC, HUL, Nestle can give up to 16% return in short term
The Nifty reclaimed 8,575 this week after some lower-level buying was witnessed in heavyweights like Reliance Industries, HDFC twins and Infosys.
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Dow sinks, virus pushes it to sharpest quarterly plunge in over three decades
Wall Street's three major indexes tumbled on Tuesday, with the Dow registering its biggest quarterly decline since 1987 and the S&P 500 suffering its deepest quarterly drop since the financial crisis on growing evidence of massive economic damage from the coronavirus pandemic.
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Bitcoin Just Plunged 4% After Monthly Close: What’s Next For The Market?
Since the monthly close that transpired at the turn of the month (UTC), Bitcoin has tanked, falling 4% from the $6,500 price where it spent most of the past few hours to a low just above $6,250. The move lower began just eight minutes after the monthly candle closed, potentially suggesting that market players were intending to keep the cryptocurrency above a certain price ahead of that crucial event. What’s Next For Bitcoin? Most analysts seem to be convinced that the recent move lower is bearish for the cryptocurrency market, rather than a quick drop that will be followed by a bounce back to the mid-$6,000s. Although not a concrete prediction per se, Tyler Coates, a prominent crypto trader formerly known as “Financial Survivalism,” posted the below chart, showing that Bitcoin could head back into the $4,000s should it follow the inverse of the price action that transpired from March 12th to the 18th or so. Equal and opposite reaction? $BTC pic.twitter.com/T7xHtqWdDb — Tyler D. Coates (@Sawcruhteez) April 1, 2020 The call for Bitcoin to trend lower was echoed by Lomah, who noted that if the cryptocurrency trends as he predicted on Monday, it will continue lower, likely to retest the weekend lows around $5,900. Monthly Candle Closed Above Key level Importantly, though, BTC closed March’s candle just a smidgen above the key technical level at $6,400. $6,400 is a crucial level from a long-term perspective, as that’s where BTC bottomed in December. Also, the low-$6,000s were absolutely key for Bitcoin during the 2018 bear market: the cryptocurrency bounced off that region on multiple occasions. Though, prominent analyst Cred has reminded his followers that just because Bitcoin closed a monthly candle above a support “does not mean that price must instantly teleport higher,” adding that the close only “sets a bias for the next candlestick.” $BTC A monthly close above support does not mean that price must instantly teleport higher. The close simply sets a bias for the next candlestick. A lot can happen in a month. If April is going to be bullish, that strength will form on weekly & daily charts as well. Chill. — Cred (@CryptoCred) April 1, 2020 Featured Image from Shutterstock
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Monday 30 March 2020
Asia shares edge up, China factories show flicker of life
Covid-19 in India: Banks wary of liquidity crunch
Some lenders, particularly private sector institutions, fear that if a large number of borrowers refuse to service loans, Reserve Bank of India’s measures to soften the blow from Covid-19 could fall short of requirement. In such a situation the moratorium on interest and loan repayment will more than offset the benefits of extra liquidity.
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Eicher Motors' Royal Enfield invokes force majeure clause to select vendors
Stocks in the news: Future Retail, HDFC Bank, SpiceJet, Thyrocare, Suzlon and Eicher Motors
Coronavirus pandemic | Ford, GE to produce 50,000 ventilators in 100 days
Ford said the simplified ventilator design, which is licensed by GE Healthcare from Florida-based Airon Corp and has been cleared by the Food and Drug Administration, can meet the needs of most COVID-19 patients and relies on air pressure without the need for electricity.
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World Bank warns China growth could screech to a halt
The pandemic is causing "an unprecedented global shock, which could bring growth to a halt and could increase poverty across the region," said Aaditya Mattoo, World Bank chief economist for East Asia and the Pacific on Monday.
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Coronavirus pandemic | US regulator FDA approves limited use of malaria drugs for COVID-19
Trump said last week that the two drugs could be a "gift from God," despite scientists warning against the dangers of overhyping unproven treatments.
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What changed for the market while you were sleeping? Top 12 things to know
Trends on SGX Nifty indicate a positive opening for the index in India with a 197 points gain.
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Coronavirus News India LIVE Updates: Confirmed COVID-19 cases in Italy cross 1 lakh; global death toll at 37,600
Live updates of the novel coronavirus pandemic and its economic impact. The total number of confirmed COVID-19 cases in India has risen to 1,251.
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Coronavirus pandemic: Samsung says chip factory worker tests positive for COVID-19, output not affected
This is the first time a Samsung chip factory employee has tested positive for the virus, although several confirmed cases at the tech giant#39;s smartphone factory in South Korea#39;s southeastern city of Gumi resulted in a temporary suspension.
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H1B workers seek 180 instead of 60-day stay in US post-unemployment period
The H-1B visa is a non-immigrant visa that allows the US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise. The technology companies depend on it to hire tens of thousands of employees each year from countries like India and China.
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BSNL, MTNL release over Rs 10,000cr for VRS employees
A total of 78,569 employees of BSNL and 14,387 staffers of MTNL have opted for the voluntary retirement scheme (VRS) which closed on December 3, 2019.
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Coronavirus pandemic | China reports rise in new COVID-19 cases due to imported infections
Mainland China had 48 new cases on March 30, the National Health Commission said in a statement, up from 31 new infections a day earlier.
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Asia shares edge up, China factories show flicker of life
Japan#39;s Nikkei firmed 1.0% after a jittery start, while South Korea added 2%.
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Coronavirus pandemic | Trump says guidelines to slow COVID-19 spread may get tougher
"The guidelines will be very much as they are, maybe even toughened up a little bit," he told reporters in remarks at the White House.
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Crude rises after US, Russia agree to oil market talks
Brent crude was up by 19 cents, or 0.8%, at $22.95 a barrel by 0051 GMT, after closing at $22.76 in the previous session, the lowest close since November 2002.
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Wall Street gains as US extends shutdown to limit virus spread
JPMorgan Chase Co said on Saturday it expected real U.S. gross domestic product to fall 10% in the first quarter and plunge 25% in the second quarter.
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Latest on the spread of the coronavirus around the world
Nearly 738,500 people have been infected across the world and about 35,000 have died, according to a Reuters tally.
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Gold prices set for sixth straight quarterly gain
Spot gold was down 0.3% at $1,616.34 an ounce, as of 0037 GMT. U.S. gold futures eased 0.1% to $1,641.20.
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Hot Stocks | Here are 3 short-term buys that can give up to 10% return
As far as support is concerned, the level of 8,095 on Nifty would play a key role
from Moneycontrol Technicals https://www.moneycontrol.com/news/technicals/hot-stocks-|-here3-short-term-buys-that-can-giveto-10-return_13627781.html
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Asia shares edge up, China factories show flicker of life
Japan#39;s Nikkei firmed 1.0% after a jittery start, while South Korea added 2%.
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Wall Street gains as US extends shutdown to limit virus spread
JPMorgan Chase Co said on Saturday it expected real U.S. gross domestic product to fall 10% in the first quarter and plunge 25% in the second quarter.
from Moneycontrol Global Markets https://www.moneycontrol.com/news/international-markets/wall-street-gains-as-us-extends-shutdown-to-limit virus-spread_13627921.html
from Moneycontrol Global Markets https://www.moneycontrol.com/news/international-markets/wall-street-gains-as-us-extends-shutdown-to-limit virus-spread_13627921.html
Hot Stocks | Here are 3 short-term buys that can give up to 10% return
As far as support is concerned, the level of 8,095 on Nifty would play a key role
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Sunday 29 March 2020
With no light at the end of the Street, indices unlikely to hold on to gains
Jefferies Group CFO dies from coronavirus complications
Broadbent had been CFO at the New York financial services company and investment bank since November 2007, following a 16-year career at Morgan Stanley, where he was head of institutional controllers for fixed income, equity and investment banking.
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Investment downcycle coming, most EMs face a recession: Jim Walker
China sees drop in new coronavirus cases; none in Hubei for sixth day
The National Health Commission said in a statement on Monday that 31 new coronavirus cases were recorded on Sunday, including one locally transmitted infection, dropping from 45 cases a day earlier.
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Crude oil futures slide as pandemic darkens demand outlook
U.S. West Texas Intermediate (WTI) crude futures hit a low of $19.92 in early trading and last traded down 5.2%, or $1.12, at $20.39 a barrel as of 2332 GMT, while Brent futures fell 5.6%, or $1.40, to $23.53 a barrel.
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