INSUBCONTINENT EXCLUSIVE:
NEW DELHI: A fall in US crude futures into the negative territory for the first time ever in history has caused jitters in equity markets
and triggered a drop in US stocks overnight and in Asian markets this morning
stage for negative startNifty futures on the Singapore Exchange traded 169 points or 1.82 per cent lower at 9,091.50, indicating a negative
start for Dalal Street.
Tech view: Nifty forms small bearish candleAnalysts it will be crucial to watch out for the 9,320-90 levels on the
On the downside, the 9,100-9,080 range could offer support in the coming days, analysts said.
Asian stocks off to negative startAsia shares
were morrored a Wall Street tumble on Tuesday after US crude futures turned negative for the first time in history
Japan's Nikkei, Australian S-P/ASX 200, Korea's Kospi and Hong Kong's Hang Seng fell 2-3 per cent.
Crude claws back into positive
territoryUS crude oil bounced back into positive territory on Tuesday, after a historic plunge below zero that shocked investors and pushed
down stock prices and Asian currencies
Futures for May delivery of West Texas Intermediate rose nearly $39 but were still just $1.76 a barrel, after a storage squeeze and
collapsing fuel demand crushed prices to eye-popping lows.
Wall Street tumbles amid oil crashWall Street's major averages closed sharply
lower on Monday as market sentiment was dented by a historic drop in US crude prices
The Dow Jones Industrial Average dipped 592.05 points, or 2.44 per cent, to 23,650.44
The S-P 500 was down 51.40 points, or 1.79 per cent, to 2,823.16
The Nasdaq Composite Index decreased 89.41 points, or 1.03 per cent, to 8,560.73.
FIIs sell Rs 266 cr worth of stocksNet-net, foreign
portfolio investors (FPIs) were sellers of domestic stocks to the tune of Rs 266 crore on Tuesday, data available with NSE suggested
DIIs were net sellers to the tune of Rs 789 crore, data suggests.
MONEY MARKETSRupee: The rupee declined by 14 paise to settle at 76.53
against the dollar on Monday amid strengthening of the US currency overseas and a sharp rise in coronavirus cases in the country.
10-year
bonds: India 10-year bond yield fell 2.17 per cent to 6.20 after trading in 6.18-6.29 range.
Call rates: The overnight call money rate
weighted average stood at 4.24 per cent, according to RBI data
It moved in a range of 2.40-5.00 per cent
(not updated)
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MACROSOil crashes, ends negative for the first time in historyUS crude oil futures turned negative
on Monday for the first time in history, ending the day at a stunning minus $37.63 a barrel as traders sold heavily because of rapidly
filling storage space at the key Cushing, Oklahoma, delivery point
Brent crude, the international benchmark, also slumped, but that contract was nowhere near as weak because more storage is available
WTI contract fell $55.9, or 306%, to settle at a discount of $37.63 a barrel after touching an all-time low of -$40.32 a barrel
Brent was down $2.51, or 9%, to settle at $25.57 a barrel
The June WTI contract traded more actively and settled at a much higher level of $20.43 a barrel.
Covid 19: Ind Inc
takes baby-steps to restart factoriesCement makers resumed production in a phased manner on Monday while steelmakers began to prepare for a
gradual increase in production
Critically, most construction sites are still silent
Some are awaiting greater clarity and, in some instances, approvals from state governments before restarting operations
The global pandemic had brought economic activity to a standstill in India and abroad, with governments enforcing a lockdown restricting
people from stepping out of their homes, except for workers employed in essential services
Consumer goods makers have called on the government to allow at least the making of essentials to resume in hotspots.
Chinese central bank
portfolio investor (FPI) licence, which is set to expire in the first week of May, reports ET
The Chinese central bank is unsure about timely renewal, prompting its officials to initiate talks, said the people cited
There are no restrictions on Chinese funds investing in Indian markets through portfolio route
However, custodian banks are hesitant to go ahead with renewal without a nod from the finance ministry and Sebi
April-June quarter has slumped to its record low level, reflecting the plunge in business sentiment owing to the heightened uncertainty
around the impact of Covid-19
The Dun - Bradstreet Composite Business Optimism Index stood at 49.40 per cent for Q2 2020 (April-June), a record low and worse than during
the 2009 financial crisis
The index registered a decrease of 37 per cent as compared to the year-ago period.
Jan-March luxe car sales down 35%Luxury car sales fell by
more than a third in India, the sharpest decline so far, in the first quarter of this calendar year as the lockdown disrupted business
Executives remain cautious as consumer sentiment is expected to remain weak in aftermath of the crisis
At Mercedes Benz India, sales fell 38.5% to 2386 units in the quarter
Rival BMW India sold 2482 units, which includes 117 units of Mini in same period
Audi declined to share sales data for Jan-March 2020.