Indian equity markets climbed off the day's higher after the RBI Governor Shaktikanta Das said that India's FY20 GDP growth forecast of 5 per cent was now at risk. The RBI's Monetary Policy Commitee (MPC) reduced the policy repo rate by 75 basis points to 4.4 per cent to help arrest the economic slowdown in the wake of the coronavirus (Covid-19) outbreak. READ MORE
The S&P BSE Sensex was up 363 points, or 1.2 per cent at 30,300 levels and the Nifty50 index slipped below the 9,000-mark, up 192 points, or 2.25 per cent.
In the broader market, the S&P BSE MidCap index and SmallCap index were both up 2 per cent each.
GLOBAL MARKETS
In the US, Wall Street rallied overnight despite a record number of new unemployment filings in the United States, as traders focused on the unanimous passage of a $2 trillion coronavirus relief bill in the U.S. Senate. The Dow Jones and the S&P 500 surged over 6 per cent each and the Nasdaq Composite climbed 5.6 per cent.
Asian stocks also rose on Friday. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1 per cent. Australian shares were up 2 per cent, while Japan’s Nikkei stock index rose 3.65 per cent.
In commodities, oil fell as fears of plunging demand outweighed expectations of support from the US stimulus. Brent fell 2.26 per cent to $26.77 a barrel.
(with inputs from Reuters)
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10:35 AM
NEWS ALERT | Economic conditions still better than that in the aftermath of Global Financial Crisis: RBI Guv
10:34 AM
NEWS ALERT | Depositors should not worry about their safety of deposits: RBI Guv
10:33 AM
NEWS ALERT | With today's steps, RBI's liquidity injection stands at 3.2% of GDP: RBI guv
10:31 AM
NEWS ALERT | Defer implementation of NSFR to Oct 1, 2020
10:30 AM
NEWS ALERT | Moratorium on term loans, deferment of interest payment will not result in asset classification downgrade
10:30 AM
NEWS ALERT | All Banks, lending institutions may allow a 3-month moratorium on all loans: RBI Guv
10:29 AM
NEWS ALERT | All lending institutions are allowed defer interest payment on facilities o/s as on March 31, 2020.
10:26 AM
NEWS ALERT | Steps related to TLTRO, CRR, MSF will inject liquidity worth Rs 3.74 trillion: RBI Guv
10:25 AM
NEWS ALERT | Increase accommodation under MSF from 2% of SLR to 3% with immediate effect
10:24 AM
NEWS ALERT | LTRO operation upto Rs 1 lk cr for 3 yrs to maintain liquidity
>> To be done at floating rate linked to policy repo rate
>> Reduce CRR of all banks by 100 bps w.r.t NDTL for 1 year
The S&P BSE Sensex was up 363 points, or 1.2 per cent at 30,300 levels and the Nifty50 index slipped below the 9,000-mark, up 192 points, or 2.25 per cent.
In the broader market, the S&P BSE MidCap index and SmallCap index were both up 2 per cent each.
GLOBAL MARKETS
In the US, Wall Street rallied overnight despite a record number of new unemployment filings in the United States, as traders focused on the unanimous passage of a $2 trillion coronavirus relief bill in the U.S. Senate. The Dow Jones and the S&P 500 surged over 6 per cent each and the Nasdaq Composite climbed 5.6 per cent.
Asian stocks also rose on Friday. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1 per cent. Australian shares were up 2 per cent, while Japan’s Nikkei stock index rose 3.65 per cent.
In commodities, oil fell as fears of plunging demand outweighed expectations of support from the US stimulus. Brent fell 2.26 per cent to $26.77 a barrel.
(with inputs from Reuters)
CATCH ALL THE LIVE UPDATES
Auto Refresh
10:35 AM
NEWS ALERT | Economic conditions still better than that in the aftermath of Global Financial Crisis: RBI Guv
10:34 AM
NEWS ALERT | Depositors should not worry about their safety of deposits: RBI Guv
10:33 AM
NEWS ALERT | With today's steps, RBI's liquidity injection stands at 3.2% of GDP: RBI guv
10:31 AM
NEWS ALERT | Defer implementation of NSFR to Oct 1, 2020
10:30 AM
NEWS ALERT | Moratorium on term loans, deferment of interest payment will not result in asset classification downgrade
10:30 AM
NEWS ALERT | All Banks, lending institutions may allow a 3-month moratorium on all loans: RBI Guv
10:29 AM
NEWS ALERT | All lending institutions are allowed defer interest payment on facilities o/s as on March 31, 2020.
10:26 AM
NEWS ALERT | Steps related to TLTRO, CRR, MSF will inject liquidity worth Rs 3.74 trillion: RBI Guv
10:25 AM
NEWS ALERT | Increase accommodation under MSF from 2% of SLR to 3% with immediate effect
10:24 AM
NEWS ALERT | LTRO operation upto Rs 1 lk cr for 3 yrs to maintain liquidity
>> To be done at floating rate linked to policy repo rate
>> Reduce CRR of all banks by 100 bps w.r.t NDTL for 1 year
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