National Handloom Day 2026: From Alia Bhatt to Samantha Ruth Prabhu; Actresses who celebrated India's textile heritage as brides

The Royals enter the Doctor Who universe: King Charles and Queen Camilla beam into Commonwealth Games in TARDIS

Unitree Robotics targets $9 billion valuation in landmark IPO backed by DeepSeek and Tencent

India names 27 sites in Arunachal Pradesh

Bharat Bhhagya Viddhaata OTT: When will Kangana Ranaut's film stream online?

How many soldiers operate one S-400 battery?

Shakib Al Hasan ready to return to Bangladesh—under one condition

‘Fake news’: MEA rejects report claiming India sought defence pact with Israel after Pakistan, Saudi Arabia, Turkey deal

Rockstar to unveil GTA 6 extended look ahead of November launch

Russia forms Ukrainian Volunteer Spetsnaz Brigade to fight Ukraine

Drug-resistant fungus that hides in hair and enters bloodstream reported in 23 US states

Technology transfer deal boosts India's defence manufacturing ambitions

Border row erupts in Europe after Ceuta crossings, Spain imposes border controls on Italy

Morale plummets on USS Abraham Lincoln: Are US sailors reaching a breaking point? | GRAVITAS

'Security can't be bought with Pakistan, Turkey deal': Iran tells Saudi Arabia

Baba Vanga's 2026 prophecy: 2 predictions 'already came true', 3 terrifying ones remain. Details inside

Colombia’s new president Abelardo de la Espriella vows to ‘defeat narco-terrorists’, signals hardline shift

New Friday OTT releases (August 7, 2026): Operation Safed Sagar, Vadhandhi, Main Vaapis Aaunga- 6 movies and TV shows on Netflix, Prime Video and more

Squadron Leader Bhawana Kanth scripts history as Indian Air Force gets its first woman ‘Top Gun’ pilot

RSS says Gen Z protests reflect genuine distress

Trump says Iranian school bombing photos could be AI-generated - 'I don’t think...'

IAF officer held for sharing sensitive information in 'honey trap' case, booked under Official Secrets Act

Stray Kids under scrutiny? Fans react to Grammy submission silence after BTS boycott

Why the Su-30MKI doesn't need external fuel tanks to fly vast distances

Jugal Hansraj reunites with Shekhar Kapur after 40 years for Masoom: The Next Generation

New speed limits, automatic challans: Big traffic change coming to Delhi-Meerut Expressway. All you need to know

India officially names 27 places in Arunachal to counter China's renaming claims

Trump calls White House ballroom ruling a 'national disgrace' as court says Congress approval needed

US sanctions Iran’s crypto network after Strait of Hormuz attacks, offers $15m bounty for intel on IRGC finance

Why the Su-30MKI is one of the heaviest fighters ever built

Uttarakhand young innovator builds India's own flying vehicle, conducts first test flight: WATCH

Chilling video shows students take cover as teen opens fire at Thai school

Reese Witherspoon's father hospitalised after poolside incident in Nashville: Report

Officials at the International Monetary Fund (IMF) have suggested that the banking systems of some countries might have to be recapitalised or even restructured, if their economies are severely handicapped by prolonged disruption from the coronavirus outbreak.

Tobias Adrian, the director of the IMF’s monetary and capital markets department, on Tuesday told Reuters in an interview that in a ‘baseline’ scenario that would be a repeat of a 2009-type growth path, banks could withstand the adverse impact. Adrian cautioned, however, that conditions could deteriorate. Leading regulators and bank chief executives, particularly in the United States, have said lenders are robust enough to withstand the unfolding economic crisis.

“In a beyond-severely adverse scenario, then it could be that some banks are undercapitalised and at that point policy makers might have to take further actions such as recapitalising or restructuring banking systems," Adrian said.

Adrian, in a blog post with Aditya Narain, deputy director in the IMF’s Monetary and Capital Markets Department, also outlined a number of measures regulators should take to mitigate the effects of the economic crisis on banking systems.

What banks are expected to do now is loan modifications, according to Adrian. He and Narain said that with the last financial crisis, global coordination was "imperative."

In a bid to bolster banks’ capital reserves, the European Central Bank last week ordered lenders to halt all dividend payments until October 2020 at the earliest, while big banks in the United States are also under pressure to halt dividends after suspending share buybacks this month.

Former crisis-era banking regulators have also called for banks to curb bonus payouts and to reduce leverage by winding down derivatives trades and securities lending portfolios that do not support the real economy.

Officials at the International Monetary Fund (IMF) have suggested that the banking systems of some countries might have to be recapitalised or even restructured, if their economies are severely handicapped by prolonged disruption from the coronavirus outbreak.

Officials at the International Monetary Fund (IMF) have suggested that the banking systems of some countries might have to be recapitalised or even restructured, if their economies are severely handicapped by prolonged disruption from the coronavirus outbreak. Tobias Adrian, the director of the IMF’s monetary and capital markets department, on Tuesday told Reuters in an interview that in a ‘baseline’ scenario that would be a repeat of a 2009-type growth path, banks could withstand the adverse impact. Adrian cautioned, however, that conditions could deteriorate. Leading regulators and bank chief executives, particularly in the United States, have said lenders are robust enough to withstand the unfolding economic crisis. “In a beyond-severely adverse scenario, then it could be that some banks are undercapitalised and at that point policy makers might have to take further actions such as recapitalising or restructuring banking systems," Adrian said. Adrian, in a blog post with Aditya Narain, deputy director in the IMF’s Monetary and Capital Markets Department, also outlined a number of measures regulators should take to mitigate the effects of the economic crisis on banking systems. What banks are expected to do now is loan modifications, according to Adrian. He and Narain said that with the last financial crisis, global coordination was "imperative." In a bid to bolster banks’ capital reserves, the European Central Bank last week ordered lenders to halt all dividend payments until October 2020 at the earliest, while big banks in the United States are also under pressure to halt dividends after suspending share buybacks this month. Former crisis-era banking regulators have also called for banks to curb bonus payouts and to reduce leverage by winding down derivatives trades and securities lending portfolios that do not support the real economy.

Banking systems may need help if handicapped by disruption from coronavirus lockdowns: IMF

The domestic stock market indices Sensex and Nifty rose over 3.5% on positive global cues on the last day of the financial year 2019-2020.

The 30-share BSE Sensex closed in the positive territory, ending 1,028.17 points or 3.62 per cent higher at 29,468.49 and the NSE Nifty rose 316.65 points, or 3.82 per cent, to close at 8,597.75.

With financial stocks suffering the most, the stock market has responded to the coronavirus pandemic with worrying volatility, as traders have panic-sold out of fear.

In the month of March, BSE and NSE both the stock markets have posted their worst monthly fall since October 2008 and their worst annual fall since 2009 due to the coronavirus-led selloff and a sluggish domestic economy.

(With inputs from agencies)

The domestic stock market indices Sensex and Nifty rose over 3.5% on positive global cues on the last day of the financial year 2019-2020. The 30-share BSE Sensex closed in the positive territory, ending 1,028.

The domestic stock market indices Sensex and Nifty rose over 3.5% on positive global cues on the last day of the financial year 2019-2020. The 30-share BSE Sensex closed in the positive territory, ending 1,028.17 points or 3.62 per cent higher at 29,468.49 and the NSE Nifty rose 316.65 points, or 3.82 per cent, to close at 8,597.75. With financial stocks suffering the most, the stock market has responded to the coronavirus pandemic with worrying volatility, as traders have panic-sold out of fear. In the month of March, BSE and NSE both the stock markets have posted their worst monthly fall since October 2008 and their worst annual fall since 2009 due to the coronavirus-led selloff and a sluggish domestic economy. (With inputs from agencies)

Sensex, Nifty end higher on positive global cues

After&nbsp;the lockdown-hit loan borrowers were relieved when&nbsp;last Friday's RBI announced three months moratorium on EMIs, now&nbsp;with a day to go for the new month and new EMI cycle to begin, borrowers still don't know what will happen to their monthly installments.

<a href="https://www.wionews.com/business-economy/no-need-to-panic-indian-banks-are-safe-and-stable-says-rbi-governor-shaktikanta-das-288832">Also Read: No need to panic, Indian banks are safe and stable, says RBI Governor</a>

Firstly, all customers don't know if there is an automatic moratorium on their loan installments or they need to inform banks about it. Also how to proceed if customers still want to pay EMIs and if there any benefit for those who are willing to pay up.

Customers are also worried as a majority of loan installments become due in the first week of the month and in case banks do not pause standing instructions for debiting bank accounts and the transaction fails, most banks charge a penalty ranging between Rs 200 to Rs 400.

The Reserve Bank of India on Friday had extended the deadline for meeting last tranche of capital conservation buffer (CCB) by another six months due to disruption caused because of the COVID-19 outbreak.

"Considering the potential stress on account of COVID-19, it has been decided to further defer the implementation of the last tranche of 0.625 per cent of the CCB from March 31 to September 30, 2020," RBI Governor Shaktikanta Das had said on Friday.

The RBI governor had said that CCB is designed to ensure that banks build up capital buffers during normal times, that are outside periods of stress which can be drawn down, as losses are incurred during a stressed period.

However, confusion reigns as banking sources say&nbsp;there is an absence of instructions from headquarter on the deferment of installment.&nbsp;

Some banks say they are working on ways to give options to their loan customers and customers will be informed about the options through SMS or emails in the coming days. &nbsp;

Borrowers will also be given an option to pay loan installments if they want to and these options could be given through a link on website but bankers also admit an exercise of this scale may take few more days considering the limitations on work as a result of the countrywide lockdown imposed to counter the coronavirus spread.&nbsp;

Also, banks may defer EMI deduction from accounts till a solution is achieved on solving the problem. as RBI has given the option "up to the bank", the implementation of the relief package rests with an individual ba

All banks want to be on the same page regarding the instructions which is causing delay in finding a unanimous solution as a single customer may have accounts in different ban

After the lockdown-hit loan borrowers were relieved when last Friday's RBI announced three months moratorium on EMIs, now with a day to go for the new month and new EMI cycle to begin, borrowers still don't know what will happen to their monthly installments.

After the lockdown-hit loan borrowers were relieved when last Friday's RBI announced three months moratorium on EMIs, now with a day to go for the new month and new EMI cycle to begin, borrowers still don't know what will happen to their monthly installments. Also Read: No need to panic, Indian banks are safe and stable, says RBI Governor Firstly, all customers don't know if there is an automatic moratorium on their loan installments or they need to inform banks about it. Also how to proceed if customers still want to pay EMIs and if there any benefit for those who are willing to pay up. Customers are also worried as a majority of loan installments become due in the first week of the month and in case banks do not pause standing instructions for debiting bank accounts and the transaction fails, most banks charge a penalty ranging between Rs 200 to Rs 400. The Reserve Bank of India on Friday had extended the deadline for meeting last tranche of capital conservation buffer (CCB) by another six months due to disruption caused because of the COVID-19 outbreak. "Considering the potential stress on account of COVID-19, it has been decided to further defer the implementation of the last tranche of 0.625 per cent of the CCB from March 31 to September 30, 2020," RBI Governor Shaktikanta Das had said on Friday. The RBI governor had said that CCB is designed to ensure that banks build up capital buffers during normal times, that are outside periods of stress which can be drawn down, as losses are incurred during a stressed period. However, confusion reigns as banking sources say there is an absence of instructions from headquarter on the deferment of installment. Some banks say they are working on ways to give options to their loan customers and customers will be informed about the options through SMS or emails in the coming days. Borrowers will also be given an option to pay loan installments if they want to and these options could be given through a link on website but bankers also admit an exercise of this scale may take few more days considering the limitations on work as a result of the countrywide lockdown imposed to counter the coronavirus spread. Also, banks may defer EMI deduction from accounts till a solution is achieved on solving the problem. as RBI has given the option "up to the bank", the implementation of the relief package rests with an individual ba All banks want to be on the same page regarding the instructions which is causing delay in finding a unanimous solution as a single customer may have accounts in different ban

In new month, bank customers confused over EMI deduction amid COVID-19 lockdown

Measures to contain the coronavirus outbreak will slash the German 2020 economic output by 2.8 to 5.4 per cent before a rebound next year, a panel of economists who advise the government said Monday.

Also read |&nbsp;<a href="https://www.wionews.com/world/not-since-world-war-ii-has-germany-faced-such-a-challenge-chancellor-merkel-on-coronavirus-pandemic-287272">Not since World War-II has Germany faced such a challenge: Chancellor Merkel on coronavirus pandemic</a>

"The German economy will shrink significantly in 2020," the so-called "Wise Men" expert panel (SVR) said, with the exact size of the impact "depending on the extent and duration of health policy measures and the subsequent recovery".

Like other economists around the world, the group sketched different scenarios for the virus' impact on Europe's top economy depending on whether it follows a "V" shape, with a sharp drop matched by a swift recovery, or a more prolonged "U" in which the rebound takes longer to materialise.

Germany's 83 million people are currently under slightly less strict lockdown conditions than in other European nations like France and Italy, with non-essential excursions outside mostly still allowed.

But companies from airline giant Lufthansa to car behemoth Volkswagen have already slashed their operations in response.

'V' or 'U'?&nbsp;

In their central outlook with activity "normalising over the summer", the SVR forecast a 2.8 per cent drop in gross domestic product (GDP) in 2020, followed by a 3.7 per cent expansion next year.

But a deeper "V" due to widespread halts in production or a longer period of isolation to slow the virus' spread could bring a 5.4 per cent slump, followed by growth of 4.9 per cent in 2021.

In the still-more-damaging "U" scenario, with contact restrictions lasting "beyond the summer" and economic recovery setting in only next year, GDP might fall 4.5 per cent in 2020, but add just 1.0 percent next year, the experts suggested.

SVR member Achim Trueger urged Berlin to coordinate with governments elsewhere in Europe and further afield on both health and economic measures to lay the groundwork for the recovery in Germany's highly-interconnected economy.

"It's not much good if one country, hopefully Germany, comes through the crisis relatively well, but around us the crisis is not yet over, then we won't be able to ramp up production," Trueger said.

The SVR members hailed as &nbsp;"welcome" a 1.1-trillion-euro package of economic support from Berlin including easier access to benefits for workers on shorter hours, guarantees for loans to business and direct support for firms hardest hit by the crisis -- up to and including the state taking stakes in stricken companies.

In the weeks ahead, "optimum use should be made of the time during which the public health measures are in place in order to support the recovery and long-term economic development," the experts added.

That could range from training and further education for workers to making faster progress on construction projects in areas affected by shutdowns, like schools and public transport.

"Further, the restrictions make fast progress on digitalisation imperative for businesses and public administration," the economists said -- with integrating IT into daily work, an area where Germany is widely seen as lagging behind.

 
&nbsp;

Measures to contain the coronavirus outbreak will slash the German 2020 economic output by 2.8 to 5.4 per cent before a rebound next year, a panel of economists who advise the government said Monday.

Measures to contain the coronavirus outbreak will slash the German 2020 economic output by 2.8 to 5.4 per cent before a rebound next year, a panel of economists who advise the government said Monday. Also read | Not since World War-II has Germany faced such a challenge: Chancellor Merkel on coronavirus pandemic "The German economy will shrink significantly in 2020," the so-called "Wise Men" expert panel (SVR) said, with the exact size of the impact "depending on the extent and duration of health policy measures and the subsequent recovery". Like other economists around the world, the group sketched different scenarios for the virus' impact on Europe's top economy depending on whether it follows a "V" shape, with a sharp drop matched by a swift recovery, or a more prolonged "U" in which the rebound takes longer to materialise. Germany's 83 million people are currently under slightly less strict lockdown conditions than in other European nations like France and Italy, with non-essential excursions outside mostly still allowed. But companies from airline giant Lufthansa to car behemoth Volkswagen have already slashed their operations in response. 'V' or 'U'? In their central outlook with activity "normalising over the summer", the SVR forecast a 2.8 per cent drop in gross domestic product (GDP) in 2020, followed by a 3.7 per cent expansion next year. But a deeper "V" due to widespread halts in production or a longer period of isolation to slow the virus' spread could bring a 5.4 per cent slump, followed by growth of 4.9 per cent in 2021. In the still-more-damaging "U" scenario, with contact restrictions lasting "beyond the summer" and economic recovery setting in only next year, GDP might fall 4.5 per cent in 2020, but add just 1.0 percent next year, the experts suggested. SVR member Achim Trueger urged Berlin to coordinate with governments elsewhere in Europe and further afield on both health and economic measures to lay the groundwork for the recovery in Germany's highly-interconnected economy. "It's not much good if one country, hopefully Germany, comes through the crisis relatively well, but around us the crisis is not yet over, then we won't be able to ramp up production," Trueger said. The SVR members hailed as "welcome" a 1.1-trillion-euro package of economic support from Berlin including easier access to benefits for workers on shorter hours, guarantees for loans to business and direct support for firms hardest hit by the crisis -- up to and including the state taking stakes in stricken companies. In the weeks ahead, "optimum use should be made of the time during which the public health measures are in place in order to support the recovery and long-term economic development," the experts added. That could range from training and further education for workers to making faster progress on construction projects in areas affected by shutdowns, like schools and public transport. "Further, the restrictions make fast progress on digitalisation imperative for businesses and public administration," the economists said -- with integrating IT into daily work, an area where Germany is widely seen as lagging behind.

German economy set for 'significant' recession: Economists

Bear run continued in the Indian stock markets on Monday afternoon with the BSE Sensex falling over 1,375 points.

The Nifty50 on the National Stock Exchange also plunged over 379 points to trade below the 8,300 mark.

The decline was in line with the global sell-off, as Asian indices fell on the growing number of coronavirus cases worldwide.

The Sensex had opened at 29,226.55 and touched an intra-day high of 29,497.57.

Although it has been a sell-off across all sectors, banking, financial and auto stocks witnessed heavy selling pressure.

On the Sensex, Bajaj Finance, HDFC, Mahindra &amp; Mahindra, Tata Steel and Maruti Suzuki lost the most while Tech Mahindra, Hindustan Unilever, Nestle India, TCS and Asian Paints were the only gainers.

Bear run continued in the Indian stock markets on Monday afternoon with the BSE Sensex falling over 1,375 points. The Nifty50 on the National Stock Exchange also plunged over 379 points to trade below the 8,300 mark.

Bear run continued in the Indian stock markets on Monday afternoon with the BSE Sensex falling over 1,375 points. The Nifty50 on the National Stock Exchange also plunged over 379 points to trade below the 8,300 mark. The decline was in line with the global sell-off, as Asian indices fell on the growing number of coronavirus cases worldwide. The Sensex had opened at 29,226.55 and touched an intra-day high of 29,497.57. Although it has been a sell-off across all sectors, banking, financial and auto stocks witnessed heavy selling pressure. On the Sensex, Bajaj Finance, HDFC, Mahindra & Mahindra, Tata Steel and Maruti Suzuki lost the most while Tech Mahindra, Hindustan Unilever, Nestle India, TCS and Asian Paints were the only gainers.

Sensex crashes 1,375 points, Nifty below 8,300 amid COVID-19 crisis

The domestic stock market indices slipped down from session highs to fall 1% on Friday even though Reserve Bank of India (RBI) Governor Shaktikanta Das announced measures to help cope with the economic fallout from the coronavirus pandemic.

At noon, the S&amp;P BSE Sensex was down 6.20 points, or 0.021%, at 29,940.57 levels and the Nifty50 index slipped below the 9,000-mark, to hover around 8,688.15 levels, down 46.70 points.&nbsp;

Meanwhile, Reserve Bank of India (RBI) Governor Shaktikanta Das today cut interest rates by 75 basis points to 4.4%. He also announced several measures to inject Rs 3.74 lakh crore liquidity into the system.

These measures come just hours after Moody's Investors Service cut India's growth forecasts for the 2020 calendar year to 2.5% from 5.3%. 
 
Banking stocks were trading with decent gains&nbsp;after RBI&nbsp;slashed the repo rate by 75 basis points (bps) to 4.4 per cent, to fight Coronavirus (Covid-19) pandemic. The Nifty Bank index moved higher by 4 per cent in intra-day deals post the announcements.

On Thursday, Union Finance Minister Nirmala Sitharaman announced a Rs 1.7 lakh crore relief package under Garib Kalyan Yojana — in the wake of the lockdown imposed due to the spurt in coronavirus cases in the country. The tally now stands at&nbsp;735 — with 17 deaths.

Prime Minister Narendra Modi on Tuesday announced a 21-day lockdown to stem the growth of coronavirus in the country. 
 
(With inputs from agencies)

The domestic stock market indices slipped down from session highs to fall 1% on Friday even though Reserve Bank of India (RBI) Governor Shaktikanta Das announced measures to help cope with the economic fallout from the coronavirus pandemic.

The domestic stock market indices slipped down from session highs to fall 1% on Friday even though Reserve Bank of India (RBI) Governor Shaktikanta Das announced measures to help cope with the economic fallout from the coronavirus pandemic. At noon, the S&P BSE Sensex was down 6.20 points, or 0.021%, at 29,940.57 levels and the Nifty50 index slipped below the 9,000-mark, to hover around 8,688.15 levels, down 46.70 points. Meanwhile, Reserve Bank of India (RBI) Governor Shaktikanta Das today cut interest rates by 75 basis points to 4.4%. He also announced several measures to inject Rs 3.74 lakh crore liquidity into the system. These measures come just hours after Moody's Investors Service cut India's growth forecasts for the 2020 calendar year to 2.5% from 5.3%. Banking stocks were trading with decent gains after RBI slashed the repo rate by 75 basis points (bps) to 4.4 per cent, to fight Coronavirus (Covid-19) pandemic. The Nifty Bank index moved higher by 4 per cent in intra-day deals post the announcements. On Thursday, Union Finance Minister Nirmala Sitharaman announced a Rs 1.7 lakh crore relief package under Garib Kalyan Yojana — in the wake of the lockdown imposed due to the spurt in coronavirus cases in the country. The tally now stands at 735 — with 17 deaths. Prime Minister Narendra Modi on Tuesday announced a 21-day lockdown to stem the growth of coronavirus in the country. (With inputs from agencies)

Sensex slips below 30,000 despite RBI's rate cut

A day after Finance Minister Nirmala Sitharman announced a Rs 1.7 lakh crore relief package for the poor of the country, Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday said that Indian banking sector is safe and deposit of bank customers is safe. 
 
<a href="https://www.wionews.com/india-news/centre-announces-coronavirus-stimulus-package-promises-cash-transfer-food-provision-288637">Also read: Centre announces coronavirus stimulus package; promises cash transfer, food provision</a> 
 
"Public should not worry about their deposit in private sector banks, they should not resort to panic withdrawal," said RBI governor.

Here are the top highlights of RBI Governor Shaktikanta Das's press conference

<ul>
	<li>RBI cuts repo rate by 75 bps to 4.4% from 5.15%. It cuts reverse repo rates by 90 basis points.</li>
	<li>Cash Reserve Ratio (CRR) cut by 1% to 3%.&nbsp;</li>
	<li>Minimum daily CRR maintenance will be 80%</li>
	<li>All Banks, HFCs, NBFCs allowed 3 months moratorium for EMI</li>
</ul>

On Thursday, Union Finance Minister Nirmala Sitharaman announced a Rs 1.7 lakh crore relief package under Garib Kalyan Yojana — in the wake of the lockdown imposed due to the spurt in coronavirus cases in the country. The tally now stands at&nbsp;735 — with 17 deaths.

Prime Minister Narendra Modi on Tuesday announced a 21-day lockdown to stem the growth of coronavirus in the country.

Meanwhile, Moody's Investors Service on Friday slashed its estimate of India's GDP growth during the 2020 calendar year to 2.5 per cent from an earlier estimate of 5.3 per cent, on account of the rising economic cost of the coronavirus pandemic.

This compares to 5 per cent growth in 2019.

Moody's said, at the 2020 estimated growth rate, a sharp fall in incomes in India is likely, further weighing on domestic demand and the pace of recovery in 2021.

(With inputs from agencies)

A day after Finance Minister Nirmala Sitharman announced a Rs 1.7 lakh crore relief package for the poor of the country, Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday said that Indian banking sector is safe and deposit of bank customers is safe.

A day after Finance Minister Nirmala Sitharman announced a Rs 1.7 lakh crore relief package for the poor of the country, Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday said that Indian banking sector is safe and deposit of bank customers is safe. Also read: Centre announces coronavirus stimulus package; promises cash transfer, food provision "Public should not worry about their deposit in private sector banks, they should not resort to panic withdrawal," said RBI governor. Here are the top highlights of RBI Governor Shaktikanta Das's press conference RBI cuts repo rate by 75 bps to 4.4% from 5.15%. It cuts reverse repo rates by 90 basis points. Cash Reserve Ratio (CRR) cut by 1% to 3%. Minimum daily CRR maintenance will be 80% All Banks, HFCs, NBFCs allowed 3 months moratorium for EMI On Thursday, Union Finance Minister Nirmala Sitharaman announced a Rs 1.7 lakh crore relief package under Garib Kalyan Yojana — in the wake of the lockdown imposed due to the spurt in coronavirus cases in the country. The tally now stands at 735 — with 17 deaths. Prime Minister Narendra Modi on Tuesday announced a 21-day lockdown to stem the growth of coronavirus in the country. Meanwhile, Moody's Investors Service on Friday slashed its estimate of India's GDP growth during the 2020 calendar year to 2.5 per cent from an earlier estimate of 5.3 per cent, on account of the rising economic cost of the coronavirus pandemic. This compares to 5 per cent growth in 2019. Moody's said, at the 2020 estimated growth rate, a sharp fall in incomes in India is likely, further weighing on domestic demand and the pace of recovery in 2021. (With inputs from agencies)

No need to panic, Indian banks are safe and stable, says RBI Governor Shaktikanta Das

The coronavirus pandemic has driven the global economy into a downturn that will require massive funding to help developing nations, IMF chief Kristalina Georgieva said Friday.

"It is clear that we have entered a recession" that will be worse than in 2009 following the global financial crisis, she said in an online press briefing.

Also read | <a href="https://www.wionews.com/world/coronavirus-pandemic-sets-the-stage-for-unprecedented-global-economic-losses-288927">Coronavirus pandemic sets the stage for unprecedented global economic losses</a>

With the worldwide economic "sudden stop," Georgieva said the fund's estimate "for the overall financial needs of emerging markets is $2.5 trillion."&nbsp;

But she warned that estimate "is on the lower end."

Governments in emerging markets, which have suffered an exodus of capital of more than $83 billion in recent weeks, can cover much of that, but "clearly the domestic resources are insufficient" and many already have high debt loads.

Over 80 countries, mostly of low incomes, have already have requested emergency aid from the International Monetary Fund, she said.

"We do know that their own reserves and domestic resources will not be sufficient," Georgieva said, adding that the fund is aiming to beef up its response "to do more, do it better, do it faster than ever before."

The IMF chief spoke to reporters following a virtual meeting with the Washington-based lender's steering committee, when she officially requested an increase in the fund's fast-deploying emergency facilities from their current level of around $50 billion.

She also welcomed the $2.2 trillion economic package approved by the US Senate, saying "it is absolutely necessary to cushion the world's largest economy against an abrupt drop the economic activities." 
&nbsp;

The coronavirus pandemic has driven the global economy into a downturn that will require massive funding to help developing nations, IMF chief Kristalina Georgieva said Friday.

The coronavirus pandemic has driven the global economy into a downturn that will require massive funding to help developing nations, IMF chief Kristalina Georgieva said Friday. "It is clear that we have entered a recession" that will be worse than in 2009 following the global financial crisis, she said in an online press briefing. Also read | Coronavirus pandemic sets the stage for unprecedented global economic losses With the worldwide economic "sudden stop," Georgieva said the fund's estimate "for the overall financial needs of emerging markets is $2.5 trillion." But she warned that estimate "is on the lower end." Governments in emerging markets, which have suffered an exodus of capital of more than $83 billion in recent weeks, can cover much of that, but "clearly the domestic resources are insufficient" and many already have high debt loads. Over 80 countries, mostly of low incomes, have already have requested emergency aid from the International Monetary Fund, she said. "We do know that their own reserves and domestic resources will not be sufficient," Georgieva said, adding that the fund is aiming to beef up its response "to do more, do it better, do it faster than ever before." The IMF chief spoke to reporters following a virtual meeting with the Washington-based lender's steering committee, when she officially requested an increase in the fund's fast-deploying emergency facilities from their current level of around $50 billion. She also welcomed the $2.2 trillion economic package approved by the US Senate, saying "it is absolutely necessary to cushion the world's largest economy against an abrupt drop the economic activities."

Clear we have entered recession, would be worse than 2009: IMF

Interest-rate sensitive bank, realty and auto shares which had mostly rallied during morning trade on Friday closed on a mixed note even after the Reserve Bank of India cut benchmark interest rate by 75 basis points to deal with the hardship caused by COVID-19 outbreak.

Shares of Federal Bank closed 6.34 per cent higher, Axis Bank 4.98 per cent, ICICI Bank 2.44 per cent, State Bank of India 1.66 per cent and Kotak Mahindra Bank 0.64 per cent.

In contrast, IndusInd Bank settled 5.94 per cent lower, City Union Bank fell 3.86 per cent, RBL Bank 2.93 per cent, and HDFC Bank 0.91 per cent.

The BSE Bank index closed 0.96 per cent higher at 22,965.51.

The Reserve Bank of India (RBI) on Friday cut benchmark interest rate by 75 basis points to 4.4 per cent to deal with the hardship caused due to the outbreak of COVID-19.

The central bank also reduced the cash reserve ratio (CRR) of all banks by 100 basis points to 3 per cent with effect from March 28 for 1 year.

V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services called the measures "A massive bazooka from the RBI in "mission mode".

He said it is a relief-cum-stimulus package with a big repo cut and even bigger reverse repo cut. This together with CRR cut will be a big stimulus for banks to lend. The combination of measures to boost liquidity, improve monetary transmission and relax repayment pressures will act with force multiplier in the economy.

Among realty companies, Sunteck Realty ended 9.93 per cent higher, Indiabulls Real Estate 4.89 per cent, Prestige Estates Projects 3.92 per cent and DLF 0.58 per cent, while Oberoi Realty dropped 5.66 per cent, Godrej Properties 3.78 per cent, Sobha 0.90 per cent and Omaxe fell 0.71 per cent.

The realty index dipped 0.78 per cent to close the trade at 1,427.65.

"Markets traded volatile and finally settled on a flat note, taking a breather after the recent recovery. The benchmark indices opened higher, however, gains soon fizzled out despite big and bold moves announced by the RBI to address liquidity needs and ensure financial stability," said Ajit Mishra, VP - Research, Religare Broking Ltd.

Among auto pack, shares of M&amp;M finished 2.83 per cent higher, Ashok Leyland 0.46 per cent, Apollo Tyres 0.49 per cent, while Hero MotoCorp dropped 8.04 per cent, TVS Motor Company 5.54 per cent, Maruti Suzuki India 4.81 per cent, Bajaj Auto 2.48 per cent and Tata Motors 0.21 per cent.

The auto index fell 2.35 per cent to close at 11,223.81.

"RBI has come out with lots of measures to ensure the stability of the financial system and inject liquidity in the market amid ongoing turmoil of pandemic,? said Amit Gupta, Co-Founder &amp; CEO, TradingBells.

He noted that it is a very good policy to cheer the market, but the problem is that the market has already rallied too much from lower levels ahead of policy and real trend decider for the market will be the trend in new cases of Covid-19 globally and locally.

Meanwhile, the domestic equity markets closed on a weak note with the benchmark Sensex falling 131.18 points to close at 29,815.59.

Interest-rate sensitive bank, realty and auto shares which had mostly rallied during morning trade on Friday closed on a mixed note even after the Reserve Bank of India cut benchmark interest rate by 75 basis points to deal with the hardship caused by COVID-19 outbreak.

Interest-rate sensitive bank, realty and auto shares which had mostly rallied during morning trade on Friday closed on a mixed note even after the Reserve Bank of India cut benchmark interest rate by 75 basis points to deal with the hardship caused by COVID-19 outbreak. Shares of Federal Bank closed 6.34 per cent higher, Axis Bank 4.98 per cent, ICICI Bank 2.44 per cent, State Bank of India 1.66 per cent and Kotak Mahindra Bank 0.64 per cent. In contrast, IndusInd Bank settled 5.94 per cent lower, City Union Bank fell 3.86 per cent, RBL Bank 2.93 per cent, and HDFC Bank 0.91 per cent. The BSE Bank index closed 0.96 per cent higher at 22,965.51. The Reserve Bank of India (RBI) on Friday cut benchmark interest rate by 75 basis points to 4.4 per cent to deal with the hardship caused due to the outbreak of COVID-19. The central bank also reduced the cash reserve ratio (CRR) of all banks by 100 basis points to 3 per cent with effect from March 28 for 1 year. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services called the measures "A massive bazooka from the RBI in "mission mode". He said it is a relief-cum-stimulus package with a big repo cut and even bigger reverse repo cut. This together with CRR cut will be a big stimulus for banks to lend. The combination of measures to boost liquidity, improve monetary transmission and relax repayment pressures will act with force multiplier in the economy. Among realty companies, Sunteck Realty ended 9.93 per cent higher, Indiabulls Real Estate 4.89 per cent, Prestige Estates Projects 3.92 per cent and DLF 0.58 per cent, while Oberoi Realty dropped 5.66 per cent, Godrej Properties 3.78 per cent, Sobha 0.90 per cent and Omaxe fell 0.71 per cent. The realty index dipped 0.78 per cent to close the trade at 1,427.65. "Markets traded volatile and finally settled on a flat note, taking a breather after the recent recovery. The benchmark indices opened higher, however, gains soon fizzled out despite big and bold moves announced by the RBI to address liquidity needs and ensure financial stability," said Ajit Mishra, VP - Research, Religare Broking Ltd. Among auto pack, shares of M&M finished 2.83 per cent higher, Ashok Leyland 0.46 per cent, Apollo Tyres 0.49 per cent, while Hero MotoCorp dropped 8.04 per cent, TVS Motor Company 5.54 per cent, Maruti Suzuki India 4.81 per cent, Bajaj Auto 2.48 per cent and Tata Motors 0.21 per cent. The auto index fell 2.35 per cent to close at 11,223.81. "RBI has come out with lots of measures to ensure the stability of the financial system and inject liquidity in the market amid ongoing turmoil of pandemic,? said Amit Gupta, Co-Founder & CEO, TradingBells. He noted that it is a very good policy to cheer the market, but the problem is that the market has already rallied too much from lower levels ahead of policy and real trend decider for the market will be the trend in new cases of Covid-19 globally and locally. Meanwhile, the domestic equity markets closed on a weak note with the benchmark Sensex falling 131.18 points to close at 29,815.59.

Interest-rate sensitive bank, realty, auto shares end on mixed note after RBI measures

As payday approaches, you can put your salary and loan instalment worries to rest. Banks are working overtime to ensure that there is no delay in crediting money to accounts.&nbsp;

March 31 will be the end of this financial year and is the time when the annual reimbursements and other arrears fall due. Some companies have even advanced their salary days so that employees get money to buy essential goods to mitigate the impact of the coronavirus crisis.&nbsp;

Leading companies in India have assured employees through statements that they will be taken care of financially while the country is under lockdown.

Indian telecom giant Bharti Airtel has already paid salaries to its employees for the current month while global food major Nestle would pay full salary to employees affected by work stoppages for a minimum of three months and has raised wages by 3 dollars per hour for on-duty factory and distribution centre workers in Canada.&nbsp;

Reports say some companies including mobile handset makers in India have paid 20-50 per cent of advance to labourers and factory workers to support their expenses in the middle of March. Some companies are also honouring all new joining date commitments.

Prime Minister Narendra Modi, in his address to the nation earlier this week, had urged private sector companies to honour payment commitment to employees.&nbsp;

Also in a move aimed at mitigating the impact of the coronavirus outbreak on businesses and employees in India, the Reserve Bank of India has asked all banks and other lending institutions to allow a three-month moratorium on all kinds of loans. this will translate into huge relief for EMIs that will become due in the next few days.

The 3-month moratorium will apply to corporate, home and car loans. but the moratorium will not cover credit card loans.

In addition to salaried employees, RBI's announcement will also give huge relief to self-employed EMI payers and professionals with an uncertain income.

Any delay in making the payment will also not result in any negative comment in the credit history of customers. &nbsp;

While banks are assuring full credit of salary and other payment in accounts, they have also assured there will be no disruption in ATM services where cash will be frequently filled in machines to meet the need of customers.&nbsp;

As payday approaches, you can put your salary and loan instalment worries to rest. Banks are working overtime to ensure that there is no delay in crediting money to accounts.

As payday approaches, you can put your salary and loan instalment worries to rest. Banks are working overtime to ensure that there is no delay in crediting money to accounts. March 31 will be the end of this financial year and is the time when the annual reimbursements and other arrears fall due. Some companies have even advanced their salary days so that employees get money to buy essential goods to mitigate the impact of the coronavirus crisis. Leading companies in India have assured employees through statements that they will be taken care of financially while the country is under lockdown. Indian telecom giant Bharti Airtel has already paid salaries to its employees for the current month while global food major Nestle would pay full salary to employees affected by work stoppages for a minimum of three months and has raised wages by 3 dollars per hour for on-duty factory and distribution centre workers in Canada. Reports say some companies including mobile handset makers in India have paid 20-50 per cent of advance to labourers and factory workers to support their expenses in the middle of March. Some companies are also honouring all new joining date commitments. Prime Minister Narendra Modi, in his address to the nation earlier this week, had urged private sector companies to honour payment commitment to employees. Also in a move aimed at mitigating the impact of the coronavirus outbreak on businesses and employees in India, the Reserve Bank of India has asked all banks and other lending institutions to allow a three-month moratorium on all kinds of loans. this will translate into huge relief for EMIs that will become due in the next few days. The 3-month moratorium will apply to corporate, home and car loans. but the moratorium will not cover credit card loans. In addition to salaried employees, RBI's announcement will also give huge relief to self-employed EMI payers and professionals with an uncertain income. Any delay in making the payment will also not result in any negative comment in the credit history of customers. While banks are assuring full credit of salary and other payment in accounts, they have also assured there will be no disruption in ATM services where cash will be frequently filled in machines to meet the need of customers.

Amid coronavirus lockdown in India, banks, firms assure salaried employees

A day after Finance Minister Nirmala Sitharman announced a Rs 1.7 lakh crore relief package for the poor of the country, Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday asked all lending institutions to allow a three-month moratorium on EMI payments to infuse liquidity into the system as the economy grapples with COVID-19 challenges.

The RBI Governor in a press conference announced that all non-banking financial companies (NBFCs) and housing finance companies (HFCs) have been permitted to allow a moratorium of 3 months on repayment of term loans outstanding on March 1, 2020.

It has also allowed banks for deferment of interest on working capital loans for the next three months - until June 2020.

"These are extraordinary circumstances, and unprecedented measures are required to support the sagging economy as all the economic activities have come to a halt," Governor Shaktikanta Das said in the press conference.

The liquidity measures announced by the RBI will make available a total Rs 3,74,000 crore to the country's financial system.

&nbsp;Das said that the deferment on loan and interest repayments will not be classified as defaults and will not impact the credit history of borrowers.

(with inputs from agencies)

A day after Finance Minister Nirmala Sitharman announced a Rs 1.7 lakh crore relief package for the poor of the country, Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday asked all lending institutions to allow a three-month moratorium on EMI payments to infuse liquidity into the system as the economy grapples with COVID-19 challenges.

A day after Finance Minister Nirmala Sitharman announced a Rs 1.7 lakh crore relief package for the poor of the country, Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday asked all lending institutions to allow a three-month moratorium on EMI payments to infuse liquidity into the system as the economy grapples with COVID-19 challenges. The RBI Governor in a press conference announced that all non-banking financial companies (NBFCs) and housing finance companies (HFCs) have been permitted to allow a moratorium of 3 months on repayment of term loans outstanding on March 1, 2020. It has also allowed banks for deferment of interest on working capital loans for the next three months - until June 2020. "These are extraordinary circumstances, and unprecedented measures are required to support the sagging economy as all the economic activities have come to a halt," Governor Shaktikanta Das said in the press conference. The liquidity measures announced by the RBI will make available a total Rs 3,74,000 crore to the country's financial system. Das said that the deferment on loan and interest repayments will not be classified as defaults and will not impact the credit history of borrowers. (with inputs from agencies)

Reserve Bank of India asks lending firms to allow 3-month moratorium on EMI payments to offset coronavirus impact

Huawei drove into its post-Google era Thursday with a flagship smartphone that uses none of the Android maker's apps now that the Chinese group has been blacklisted by US authorities.

The new P40 might not be the first Google-free phone launched by Huawei, it is the first top-line phone meant to seduce early adopters and show off its technological prowess.

The United States has expressed concern that Huawei mobile phone network equipment could contain security loopholes that allow China to spy on global communications traffic, and while the company has denied the accusation, it has been effectively barred from working with US companies.

For smartphones, that means Huawei has had to forgo Google's Android operating system and the plethora of apps available to run on it.

Huawei, which was the world's second-largest smartphone maker last year behind Samsung with a 17 per cent market share, now faces the challenge of creating an alternative that is sufficiently attractive to lure both app developers and consumers.

According to the presentation broadcast on YouTube, the P40 smartphones sold in France, Germany, and Italy will use a European search engine called Qwant instead of Google.

Huawei is progressively eliminating Google software from its phones after having shipped its first Google-free model last year, but it has not given a date when it expects to complete the switch.

The P40 will be available from April 7 at a price ranging from 799 to 1,399 euros ($880-1,540), depending on the specifications.

Huawei drove into its post-Google era Thursday with a flagship smartphone that uses none of the Android maker's apps now that the Chinese group has been blacklisted by US authorities.

Huawei drove into its post-Google era Thursday with a flagship smartphone that uses none of the Android maker's apps now that the Chinese group has been blacklisted by US authorities. The new P40 might not be the first Google-free phone launched by Huawei, it is the first top-line phone meant to seduce early adopters and show off its technological prowess. The United States has expressed concern that Huawei mobile phone network equipment could contain security loopholes that allow China to spy on global communications traffic, and while the company has denied the accusation, it has been effectively barred from working with US companies. For smartphones, that means Huawei has had to forgo Google's Android operating system and the plethora of apps available to run on it. Huawei, which was the world's second-largest smartphone maker last year behind Samsung with a 17 per cent market share, now faces the challenge of creating an alternative that is sufficiently attractive to lure both app developers and consumers. According to the presentation broadcast on YouTube, the P40 smartphones sold in France, Germany, and Italy will use a European search engine called Qwant instead of Google. Huawei is progressively eliminating Google software from its phones after having shipped its first Google-free model last year, but it has not given a date when it expects to complete the switch. The P40 will be available from April 7 at a price ranging from 799 to 1,399 euros ($880-1,540), depending on the specifications.

Huawei flagship phone goes Google-free

The global COVID-19 pandemic is now expected to take a far worse toll on foreign direct investments worldwide than feared just a few weeks ago, UN economists said Thursday.

A fresh report from the UN Conference on Trade, Investment and Development (UNCTAD) warned that the rapid spread of the coronavirus would cause a "dramatic drop" in global foreign direct investment, which is a measure of cross-border private sector investment.

The agency said it now believed that global FDI could be as much as 40 per cent lower than its projections in January when it had expected to see up to five per cent growth this year and next.&nbsp;

That compares to a forecast it issued just two weeks ago, in which it said that FDI would be up to 15 per cent lower than its January projections, in a worst-case scenario.

Efforts to halt the spread of the new coronavirus, which has killed nearly 22,000 people worldwide and infected more than 500,000, have wreaked havoc on international business and are rapidly pushing the world into a global recession.&nbsp;

"Projections of the economic impact of COVID-19 are becoming more serious by the day," Thursday's report said.

It said, "early expectations that the impact would be felt first and foremost through the ripple effects caused by production stoppages and supply chain disruptions in East Asia... and felt especially in economies that are closely integrated in global value chains are being overtaken by events."

"It is now evident that pandemic mitigation efforts and lockdowns around the world will have devastating effects on all economies, independent of their links to global supply networks," UNCTAD said.

The "consensus is that most if not all major economies will experience a deep recession", it added.&nbsp;

The global COVID-19 pandemic is now expected to take a far worse toll on foreign direct investments worldwide than feared just a few weeks ago, UN economists said Thursday.

The global COVID-19 pandemic is now expected to take a far worse toll on foreign direct investments worldwide than feared just a few weeks ago, UN economists said Thursday. A fresh report from the UN Conference on Trade, Investment and Development (UNCTAD) warned that the rapid spread of the coronavirus would cause a "dramatic drop" in global foreign direct investment, which is a measure of cross-border private sector investment. The agency said it now believed that global FDI could be as much as 40 per cent lower than its projections in January when it had expected to see up to five per cent growth this year and next. That compares to a forecast it issued just two weeks ago, in which it said that FDI would be up to 15 per cent lower than its January projections, in a worst-case scenario. Efforts to halt the spread of the new coronavirus, which has killed nearly 22,000 people worldwide and infected more than 500,000, have wreaked havoc on international business and are rapidly pushing the world into a global recession. "Projections of the economic impact of COVID-19 are becoming more serious by the day," Thursday's report said. It said, "early expectations that the impact would be felt first and foremost through the ripple effects caused by production stoppages and supply chain disruptions in East Asia... and felt especially in economies that are closely integrated in global value chains are being overtaken by events." "It is now evident that pandemic mitigation efforts and lockdowns around the world will have devastating effects on all economies, independent of their links to global supply networks," UNCTAD said. The "consensus is that most if not all major economies will experience a deep recession", it added.

Pandemic will cut global investment flows more than feared: UN

The cash-strapped Yes Bank’s board on Thursday was reconstituted with immediate effect with the appointment of eight members pursuant to “Yes Bank Limited Reconstruction Scheme, 2020”.

The bank had earlier approved the reconstitution of its board with Prashant Kumar as the new MD and CEO.

The board comprises of Sunil Mehta as non-executive chairman, Mahesh Krishmurthi as non-executive director, Atul Bheda as non-executive director, R Gandhi as additional director appointed by Reserve Bank of India, Anand Narayan Gopalakrishnan as additional director appointed by Reserve Bank of India, Partha Pratim Sengupta as director appointed by State Bank of India, Swaminathan Janakiraman as director appointed by State Bank of India, and Prashant Kumar as managing director and CEO.

The bank on March 5 was put under moratorium by RBI due to financial mismanagement under its former MD and CEO Rana Kapoor, who currently is in the custody of probe agencies.

Yes Bank had also failed to raise enough capital to keep afloat.

The board of the bank was superseded with immediate effect, and other financial activities such as granting new loans, investment, among others, were also curbed.&nbsp;

Meanwhile, as per ICRA’s estimates,<a href="https://www.business-standard.com/topic/yes-bank">&nbsp;</a>Yes Bank would require equity infusion of Rs. 9,000-13,000 crore to meet the regulatory capital requirements including the Capital Conservation Buffers (CCB). As the regulatory norms require banks to maintain a CCB of 2.5 per cent as on March 31, 2020.

As per the bank’s rescue plan outlined by RBI, SBI will have a stake of 49 per cent in Yes Bank through capital infusion of Rs 7,250 crore.

(With inputs from agencies)

The cash-strapped Yes Bank’s board on Thursday was reconstituted with immediate effect with the appointment of eight members pursuant to “Yes Bank Limited Reconstruction Scheme, 2020”.

The cash-strapped Yes Bank’s board on Thursday was reconstituted with immediate effect with the appointment of eight members pursuant to “Yes Bank Limited Reconstruction Scheme, 2020”. The bank had earlier approved the reconstitution of its board with Prashant Kumar as the new MD and CEO. The board comprises of Sunil Mehta as non-executive chairman, Mahesh Krishmurthi as non-executive director, Atul Bheda as non-executive director, R Gandhi as additional director appointed by Reserve Bank of India, Anand Narayan Gopalakrishnan as additional director appointed by Reserve Bank of India, Partha Pratim Sengupta as director appointed by State Bank of India, Swaminathan Janakiraman as director appointed by State Bank of India, and Prashant Kumar as managing director and CEO. The bank on March 5 was put under moratorium by RBI due to financial mismanagement under its former MD and CEO Rana Kapoor, who currently is in the custody of probe agencies. Yes Bank had also failed to raise enough capital to keep afloat. The board of the bank was superseded with immediate effect, and other financial activities such as granting new loans, investment, among others, were also curbed. Meanwhile, as per ICRA’s estimates, Yes Bank would require equity infusion of Rs. 9,000-13,000 crore to meet the regulatory capital requirements including the Capital Conservation Buffers (CCB). As the regulatory norms require banks to maintain a CCB of 2.5 per cent as on March 31, 2020. As per the bank’s rescue plan outlined by RBI, SBI will have a stake of 49 per cent in Yes Bank through capital infusion of Rs 7,250 crore. (With inputs from agencies)

Yes Bank board reconstituted with immediate effect; Prashant Kumar to be new MD-CEO

Equity benchmarks surged for the third straight session on Thursday, logging their best three-day gains in years, after the government's much awaited stimulus measures for coronavirus lockdown-hit segments lifted sentiments.

The BSE gauge Sensex surged 1,410.99 points or 4.94 per cent to settle at 29,946.77; while the NSE barometer Nifty sot up 323.60 points or 3.89 per cent to 8,641.45.

After the worst-ever crash on Monday, the Sensex has recovered by 3,965.53 points or 15.26 per cent over the last three sessions. Likewise, the NSE Nifty has regained 1,031.20 points or 13.55 per cent in three days.

On the Sensex chart, IndusInd Bank was the top gainer, rallying up to 46 per cent. Other winners were Bharti Airtel, L&amp;T, Bajaj Finance, Kotak Mahindra, Bajaj Auto, HUL and HDFC -- rising up to 10 per cent.

On the other hand, Maruti Suzuki, Tech Mahindra, Sun Pharma and Reliance Industries closed with losses.

All sectoral indices ended with gains with BSE telecom, capital goods, bankex, finance, realty and FMCG indices surging up to 10 per cent.

The broader markets also gained momentum with the Nifty Midcap and Smallcap indices rising 3 per cent each.

In an effort to cushion the economic blow of the 21-day lockdown in wake of the Covid-19 pandemic, Finance Minister Sitharaman announced a slew of measures worth Rs 1.70 lakh crore to help citizens survive the crisis.

Paras Bothra, President of Equity Research, Ashika Stock Broking, said, "Domestic markets zoomed for the second day on the trot driven by optimism on $&nbsp;2 trillion packages to US economy and also in anticipation of an economic package for the Indian economy."

"Finance Minister indeed announced Rs 1,75,000 cr package for the poor and needy, however, measures addressed to corporate or SMEs are still missing. Perhaps this will be followed by monetary stimulus by RBI along with forbearance on loan repayments."

The Rs 1.70 lakh crore economic package involves free food grains and cooking gas to poor for the next three months, one-time doles to women and poor senior citizens, higher wages to workers and measures to boost the liquidity of employees. The scheme will be implemented with immediate effect.

"This is a package for lockdown impacted segments,"&nbsp;said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, adding that the government is prioritising.

"Industry-specific measures are likely to be announced in the next package. This can go a long way in implementing the lockdown,"&nbsp;he said.

According to traders, volatility remained during the day as March derivatives contracts expired.

The Indian rupee appreciated 57 paise to 75.37 against the US dollar in intra-day trade.

In a positive news for India's fiscal health, the crude oil prices continued to trade below $30 a barrel amid steep fall in demand due to COVID-19 led lockdowns in major parts of the world.

International oil benchmark, Brent crude futures fell 2.15 per cent to $26.80 per barrel.

Meanwhile, bourses in Shanghai, Hong Kong, Tokyo and Seoul ended significantly lower. Benchmarks in Europe were also trading in the red.

The number of COVID-19 cases climbed to 649 in India and the death toll rose to 13, with one death reported each from Gujarat, Tamil Nadu and Madhya Pradesh, according to the Health Ministry.&nbsp;

Equity benchmarks surged for the third straight session on Thursday, logging their best three-day gains in years, after the government's much awaited stimulus measures for coronavirus lockdown-hit segments lifted sentiments.

Equity benchmarks surged for the third straight session on Thursday, logging their best three-day gains in years, after the government's much awaited stimulus measures for coronavirus lockdown-hit segments lifted sentiments. The BSE gauge Sensex surged 1,410.99 points or 4.94 per cent to settle at 29,946.77; while the NSE barometer Nifty sot up 323.60 points or 3.89 per cent to 8,641.45. After the worst-ever crash on Monday, the Sensex has recovered by 3,965.53 points or 15.26 per cent over the last three sessions. Likewise, the NSE Nifty has regained 1,031.20 points or 13.55 per cent in three days. On the Sensex chart, IndusInd Bank was the top gainer, rallying up to 46 per cent. Other winners were Bharti Airtel, L&T, Bajaj Finance, Kotak Mahindra, Bajaj Auto, HUL and HDFC -- rising up to 10 per cent. On the other hand, Maruti Suzuki, Tech Mahindra, Sun Pharma and Reliance Industries closed with losses. All sectoral indices ended with gains with BSE telecom, capital goods, bankex, finance, realty and FMCG indices surging up to 10 per cent. The broader markets also gained momentum with the Nifty Midcap and Smallcap indices rising 3 per cent each. In an effort to cushion the economic blow of the 21-day lockdown in wake of the Covid-19 pandemic, Finance Minister Sitharaman announced a slew of measures worth Rs 1.70 lakh crore to help citizens survive the crisis. Paras Bothra, President of Equity Research, Ashika Stock Broking, said, "Domestic markets zoomed for the second day on the trot driven by optimism on $ 2 trillion packages to US economy and also in anticipation of an economic package for the Indian economy." "Finance Minister indeed announced Rs 1,75,000 cr package for the poor and needy, however, measures addressed to corporate or SMEs are still missing. Perhaps this will be followed by monetary stimulus by RBI along with forbearance on loan repayments." The Rs 1.70 lakh crore economic package involves free food grains and cooking gas to poor for the next three months, one-time doles to women and poor senior citizens, higher wages to workers and measures to boost the liquidity of employees. The scheme will be implemented with immediate effect. "This is a package for lockdown impacted segments," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, adding that the government is prioritising. "Industry-specific measures are likely to be announced in the next package. This can go a long way in implementing the lockdown," he said. According to traders, volatility remained during the day as March derivatives contracts expired. The Indian rupee appreciated 57 paise to 75.37 against the US dollar in intra-day trade. In a positive news for India's fiscal health, the crude oil prices continued to trade below $30 a barrel amid steep fall in demand due to COVID-19 led lockdowns in major parts of the world. International oil benchmark, Brent crude futures fell 2.15 per cent to $26.80 per barrel. Meanwhile, bourses in Shanghai, Hong Kong, Tokyo and Seoul ended significantly lower. Benchmarks in Europe were also trading in the red. The number of COVID-19 cases climbed to 649 in India and the death toll rose to 13, with one death reported each from Gujarat, Tamil Nadu and Madhya Pradesh, according to the Health Ministry.

Market clocks best 3-day rally in years as stimulus calms investor jitters amid lockdown

Domestic stock market indices surged on Thursday with the BSE Sensex gaining over 1,500 points.

The rise in the market was in line with the gains in the Asian market and following the reports that the government may soon announce an economic stimulus package to soften the blow of countrywide lockdown amid spreading coronavirus.

Healthy buying in finance and banking stocks also supported the domestic indices.

At 1 pm, Sensex was trading at 29,911.65, higher by 1,375.87, or 4.82% from the previous close of 28,535.78.

The Nifty50 was trading at 8,679.45, higher by 361.60 points from the previous close.

The BSE Sensex had opened at 29,073.71 and has so far touched an intra-day high or 30,099.91 and a low of 28,566.34.

Yesterday, the BSE MidCap and SmallCap index closed higher by 3.53 per cent and 2.84 per cent, respectively. 
 
(With inputs from agencies)

Domestic stock market indices surged on Thursday with the BSE Sensex gaining over 1,500 points. The rise in the market was in line with the gains in the Asian market and following the reports that the government may soon announce an economic stimulus package to soften the blow of countrywide lockdown amid spreading coronavirus.

Domestic stock market indices surged on Thursday with the BSE Sensex gaining over 1,500 points. The rise in the market was in line with the gains in the Asian market and following the reports that the government may soon announce an economic stimulus package to soften the blow of countrywide lockdown amid spreading coronavirus. Healthy buying in finance and banking stocks also supported the domestic indices. At 1 pm, Sensex was trading at 29,911.65, higher by 1,375.87, or 4.82% from the previous close of 28,535.78. The Nifty50 was trading at 8,679.45, higher by 361.60 points from the previous close. The BSE Sensex had opened at 29,073.71 and has so far touched an intra-day high or 30,099.91 and a low of 28,566.34. Yesterday, the BSE MidCap and SmallCap index closed higher by 3.53 per cent and 2.84 per cent, respectively. (With inputs from agencies)

Sensex up 1,500 points, Nifty above 8,600

The 30-scrip Sensitive Index (Sensex) on Wednesday recovered after opening on a negative note.

The Sensex of the BSE opened at 26,499.81 points and touched a high of 27.299.44 points. The Sensex touched a low of 26,458.52 points.

On Tuesday, the Sensex had closed at 26,674.03 points.

The Sensex is trading at 27,183.39 points up by 509.36 points or 1.91 per cent.

On the other hand, the broader 50-scrip Nifty at National Stock Exchange (NSE) opened at 7,735.15 points after closing at 7,801.05 points on Tuesday.

The Nifty is trading at 7,970.75 points in the morning.&nbsp;

The 30-scrip Sensitive Index (Sensex) on Wednesday recovered after opening on a negative note. The Sensex of the BSE opened at 26,499.81 points and touched a high of 27.

The 30-scrip Sensitive Index (Sensex) on Wednesday recovered after opening on a negative note. The Sensex of the BSE opened at 26,499.81 points and touched a high of 27.299.44 points. The Sensex touched a low of 26,458.52 points. On Tuesday, the Sensex had closed at 26,674.03 points. The Sensex is trading at 27,183.39 points up by 509.36 points or 1.91 per cent. On the other hand, the broader 50-scrip Nifty at National Stock Exchange (NSE) opened at 7,735.15 points after closing at 7,801.05 points on Tuesday. The Nifty is trading at 7,970.75 points in the morning.

Sensex, Nifty up after opening on a negative note

The Union Finance Minister Nirmala Sitharaman on Tuesday (March 24) said that last date for the income tax return for the financial year 18-19 has been extended to June 30, 2020. The finance minister also extended Aadhar-PAN linking date.

Indian Finance Minister extends deadlines to provide relief

Sell-off continued in the Indian stock markets as the BSE Sensex fell over 3,500 points after trade resumed on the exchanges after a 45-minute halt.

The Nifty on the National Stock Exchange also lost over 1,000 points to trade below the 8,000 mark.

At 11.05 a.m., Sensex was trading at 26,409, lower by 3,507 points from the previous close of 29,915.96.

It had opened at 27,608.80 and has so far touched a high of 27,900.83 and a low of 26,391 points.

Also read:&nbsp;<a href="https://www.wionews.com/business-economy/sensex-loses-10-rupee-hits-new-low-amid-coronavirus-fears-287975">Sensex loses 10%, Rupee hits new low amid coronavirus fears</a>

The Nifty&nbsp;was trading at 7,723, lower by 1008 points.

The sell-off was on the back of the coronavirus crisis as several cities and states in India have been put under lockdown.

Asian stock exchange too traded in the red.

So far, over 380 confirmed cases of the disease have been reported in India and seven people in the country have lost their lives.

Sell-off continued in the Indian stock markets as the BSE Sensex fell over 3,500 points after trade resumed on the exchanges after a 45-minute halt. The Nifty on the National Stock Exchange also lost over 1,000 points to trade below the 8,000 mark.

Sell-off continued in the Indian stock markets as the BSE Sensex fell over 3,500 points after trade resumed on the exchanges after a 45-minute halt. The Nifty on the National Stock Exchange also lost over 1,000 points to trade below the 8,000 mark. At 11.05 a.m., Sensex was trading at 26,409, lower by 3,507 points from the previous close of 29,915.96. It had opened at 27,608.80 and has so far touched a high of 27,900.83 and a low of 26,391 points. Also read: Sensex loses 10%, Rupee hits new low amid coronavirus fears The Nifty was trading at 7,723, lower by 1008 points. The sell-off was on the back of the coronavirus crisis as several cities and states in India have been put under lockdown. Asian stock exchange too traded in the red. So far, over 380 confirmed cases of the disease have been reported in India and seven people in the country have lost their lives.

Sensex falls 3,500 points as trade resumes;  Nifty loses over 1,000 points

A day after at least 75 Indian districts were put under lockdown to control coronavirus spread, Sensex, Nifty nosedived in the opening session and rupee hit a new low on Monday.&nbsp;

BSE Sensex lost 2,991.85 points or 10 per cent and was trading at 26,924.11, while, NSE Nifty tanked 720.55 points to 8,024.90, as per the latest updates.

The Indian rupee also fell to a new low and was trading below 76 against the US dollar.&nbsp;

Asian markets mostly reported losses in the early trade as coronavirus concerns continue to haunt investors.&nbsp;

Hong Kong's Hang Seng declined 3.7 per cent, Singapore down 7.5 per cent and Seoul lost 3.4 per cent.&nbsp;

Tokyo, however, witnessed gains and was up 0.5 per cent as a cheaper yen against the dollar encouraged the market.&nbsp;

On Sunday, India reported three coronavirus deaths on a day when India witnessed a self-imposed curfew to control the spread of the pandemic. The coronavirus-infected cases in India also surged nearly to 400 in India.&nbsp;

Indian markets witnessed some recovery on Friday, led by gains in IT sector as 30-share-index closed 5.75 points higher at 29,915 and Nifty rose 5.83 per cent to finish at 8,745.

 
&nbsp;

A day after at least 75 Indian districts were put under lockdown to control coronavirus spread, Sensex, Nifty nosedived in the opening session and rupee hit a new low on Monday.

A day after at least 75 Indian districts were put under lockdown to control coronavirus spread, Sensex, Nifty nosedived in the opening session and rupee hit a new low on Monday. BSE Sensex lost 2,991.85 points or 10 per cent and was trading at 26,924.11, while, NSE Nifty tanked 720.55 points to 8,024.90, as per the latest updates. The Indian rupee also fell to a new low and was trading below 76 against the US dollar. Asian markets mostly reported losses in the early trade as coronavirus concerns continue to haunt investors. Hong Kong's Hang Seng declined 3.7 per cent, Singapore down 7.5 per cent and Seoul lost 3.4 per cent. Tokyo, however, witnessed gains and was up 0.5 per cent as a cheaper yen against the dollar encouraged the market. On Sunday, India reported three coronavirus deaths on a day when India witnessed a self-imposed curfew to control the spread of the pandemic. The coronavirus-infected cases in India also surged nearly to 400 in India. Indian markets witnessed some recovery on Friday, led by gains in IT sector as 30-share-index closed 5.75 points higher at 29,915 and Nifty rose 5.83 per cent to finish at 8,745.

Sensex loses 10%, Rupee hits new low amid coronavirus fears

Equity benchmark Sensex surged over 500 points in opening session on Monday on hopes of an economic stimulus after Prime Minister Narendra Modi announced a financial task force to take necessary actions to combat the Covid-19 pandemic's economic blow.

The indices, however, succumbed to profit-booking at higher levels as concerns remained over the rising cases of the novel coronavirus (Covid-19), traders said.

After spiking 573.07 points, the BSE barometer gave up all gains to trade 195.57 points or 0.69 per cent lower at 28,092.66.

Similarly, the NSE Nifty was trading?39.15?points, or 0.47 per cent, down at?8,224.30, after hitting a high of 8,441.25 in early session.

In the previous session, the 30-share BSE index closed 581.28 points or 2.01 per cent lower at 28,288.23. The Nifty tumbled 205.35 points, or 2.42 per cent, to close at 8,263.45.

On a net basis, foreign institutional investors sold equities worth Rs 4,622.93 crore on Thursday, data available with stock exchanges showed.

IndusInd Bank was the top laggard in the Sensex pack, tanking up to 7 per cent, followed by HDFC twins, Kotak Bank, Bajaj Finance, ICICI Bank and Axis Bank.

On the other hand, ITC, PowerGrid, HUL, ONGC and Sun Pharma were among the gainers.

Prime Minister Narendra Modi on Thursday announced setting up of a task force under Finance Minister Nirmala Sitharaman which will take necessary actions "in the near future" after analysing the coronavirus pandemic situation.

According to government sources, Finance Minister Nirmala Sitharaman will hold a meeting with MSME Minister Nitin Gadkari, Animal Husbandry Minister Giriraj Singh, Civil Aviation Minister Hardeep Singh Puri and Tourism Minister Prahlad Singh Patel on Friday to assess the situation in order to work out a package.

Calling for "resolve and restraint" to fight coronavirus, Modi asked the entire country to observe 'Janta curfew' on Sunday.

In a nearly 30-minute national broadcast, he asked people to stay indoors and work from home as much as possible while underscoring the dangers of coronavirus, saying the world has never seen a crisis as grave as this.

The novel coronavirus cases in India rose to 195 on Friday after 22 fresh cases were reported from various parts of the country, according to the Health Ministry data.

Globally, the death toll from the virus has risen to over 9,800 with more than 232,650 cases in 158 countries and territories.

"The PM had set the stage for more action to follow. The Covid- 19 Task Force under the FM's leadership can be expected to come out with concrete proposals very soon," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

The huge oil bounty from the crude crash can be used for this, he said adding that PM's appeal is a curtain-raiser for the concrete actions to follow soon.

World over, market sentiments improved as governments stepped up measures to cushion the financial blow of the pandemic, analysts said, adding that concerns over the rapid spread of the virus remained.

Bourses in Shanghai, Hong Kong, Seoul jumped up to 4 per cent, while Tokyo was in the red.

Stock exchanges on Wall Street too ended on a positive note.

Meanwhile, the rupee too appreciated 37 paise to 74.74 against US dollar in the morning session.

Global oil benchmark, Brent crude futures rose over 2.04 per cent to $29.05 per barrel.&nbsp;

&nbsp;

Equity benchmark Sensex surged over 500 points in opening session on Monday on hopes of an economic stimulus after Prime Minister Narendra Modi announced a financial task force to take necessary actions to combat the Covid-19 pandemic's economic blow.

Equity benchmark Sensex surged over 500 points in opening session on Monday on hopes of an economic stimulus after Prime Minister Narendra Modi announced a financial task force to take necessary actions to combat the Covid-19 pandemic's economic blow. The indices, however, succumbed to profit-booking at higher levels as concerns remained over the rising cases of the novel coronavirus (Covid-19), traders said. After spiking 573.07 points, the BSE barometer gave up all gains to trade 195.57 points or 0.69 per cent lower at 28,092.66. Similarly, the NSE Nifty was trading?39.15?points, or 0.47 per cent, down at?8,224.30, after hitting a high of 8,441.25 in early session. In the previous session, the 30-share BSE index closed 581.28 points or 2.01 per cent lower at 28,288.23. The Nifty tumbled 205.35 points, or 2.42 per cent, to close at 8,263.45. On a net basis, foreign institutional investors sold equities worth Rs 4,622.93 crore on Thursday, data available with stock exchanges showed. IndusInd Bank was the top laggard in the Sensex pack, tanking up to 7 per cent, followed by HDFC twins, Kotak Bank, Bajaj Finance, ICICI Bank and Axis Bank. On the other hand, ITC, PowerGrid, HUL, ONGC and Sun Pharma were among the gainers. Prime Minister Narendra Modi on Thursday announced setting up of a task force under Finance Minister Nirmala Sitharaman which will take necessary actions "in the near future" after analysing the coronavirus pandemic situation. According to government sources, Finance Minister Nirmala Sitharaman will hold a meeting with MSME Minister Nitin Gadkari, Animal Husbandry Minister Giriraj Singh, Civil Aviation Minister Hardeep Singh Puri and Tourism Minister Prahlad Singh Patel on Friday to assess the situation in order to work out a package. Calling for "resolve and restraint" to fight coronavirus, Modi asked the entire country to observe 'Janta curfew' on Sunday. In a nearly 30-minute national broadcast, he asked people to stay indoors and work from home as much as possible while underscoring the dangers of coronavirus, saying the world has never seen a crisis as grave as this. The novel coronavirus cases in India rose to 195 on Friday after 22 fresh cases were reported from various parts of the country, according to the Health Ministry data. Globally, the death toll from the virus has risen to over 9,800 with more than 232,650 cases in 158 countries and territories. "The PM had set the stage for more action to follow. The Covid- 19 Task Force under the FM's leadership can be expected to come out with concrete proposals very soon," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. The huge oil bounty from the crude crash can be used for this, he said adding that PM's appeal is a curtain-raiser for the concrete actions to follow soon. World over, market sentiments improved as governments stepped up measures to cushion the financial blow of the pandemic, analysts said, adding that concerns over the rapid spread of the virus remained. Bourses in Shanghai, Hong Kong, Seoul jumped up to 4 per cent, while Tokyo was in the red. Stock exchanges on Wall Street too ended on a positive note. Meanwhile, the rupee too appreciated 37 paise to 74.74 against US dollar in the morning session. Global oil benchmark, Brent crude futures rose over 2.04 per cent to $29.05 per barrel.

Sensex starts over 500 points higher, Nifty above 8,200 level

Snapping its four-day losing streak, equity benchmark Sensex rallied over 1,627 points on Friday in line with global markets as governments across the world took drastic measures to combat the economic blowback of Covid-19.

Domestic sentiment turned positive on hopes of a stimulus package after Prime Minister Narendra Modi announced a financial task force to support sectors battered by the pandemic, experts said.

After starting on a volatile note and swinging over 2,485 points, the BSE barometer ended 1,627.73 points or 5.75 per cent higher at 29,915.96. It hit a high of 30,418.20 and a low of 27,932.67.

Similarly, the NSE Nifty zoomed 482 points, or 5.83 per cent, to close at 8,745.45. During the week, Sensex plummeted 4,187.52 points or 12.27 per cent, while Nifty sank 1,209.75 points or 12.15 per cent.

ONGC was the top gainer in the Sensex pack on Friday, rallying 18.58 per cent, followed by UltraTech Cement (13.01 per cent), HUL (11.75 per cent), RIL (11.24 per cent), TCS (9.90 per cent), Tata Steel (9.60 per cent) and Asian Paints (8.91 per cent). 
&nbsp; 
Only HDFC Bank and IndusInd Bank settled in the red, shedding up to 1.39 per cent. 
&nbsp; 
Modi on Thursday announced setting up of a task force under Finance Minister Nirmala Sitharaman which will take necessary actions "shortly" after analysing the coronavirus pandemic situation. 
&nbsp; 
Experts were of the view that the Covid-19 task force may come out with concrete proposals very soon. 
&nbsp; 
The huge oil bounty from the crude crash can be used for this, said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, adding that PM's appeal is a curtain-raiser for the concrete actions to follow soon. 
&nbsp; 
Covid-19 cases in India rose to 195 on Friday after 22 fresh cases were reported from various parts of the country, according to the Health Ministry. 
&nbsp; 
"Tracking positive sentiments in the global markets, Indian indices closed up by around 6 per cent. It was in sync with Asian and European markets and was more of a relief rally driven by technicals rather than any fundamental change in outlook. 
&nbsp; 
"Hopes of further stimulus from Central banks across the world to contain the economic damage boosted global markets. The broader market indices were also up by around 4 per cent." said Vinod Nair, Head of Research at Geojit Financial Services. 
&nbsp; 
All sectoral indices ended with gains, with BSE energy, oil and gas, IT, FMCG, teck, metals and utilities rallying up to 9.96 per cent. 
&nbsp; 
Broader BSE midcap and smallcap indices surged up to 4.18 per cent. World over, market sentiments improved as governments stepped up measures to cushion the financial blow of the pandemic. 
&nbsp; 
Bourses in Shanghai, Hong Kong, Seoul closed up to 7 per cent higher.&nbsp;Stock exchanges in Europe too rallied up to 5 per cent.&nbsp;Meanwhile, the rupee appreciated 6 paise to 74.72 against US dollar intra-day. 
&nbsp; 
Global oil benchmark, Brent crude futures rose over 8.18 per cent to USD?30.80?per barrel.&nbsp;Globally, the death toll from the virus has risen to almost 10,000 with more than 2,32,000 cases in 158 countries and territories.

Snapping its four-day losing streak, equity benchmark Sensex rallied over 1,627 points on Friday in line with global markets as governments across the world took drastic measures to combat the economic blowback of Covid-19.

Snapping its four-day losing streak, equity benchmark Sensex rallied over 1,627 points on Friday in line with global markets as governments across the world took drastic measures to combat the economic blowback of Covid-19. Domestic sentiment turned positive on hopes of a stimulus package after Prime Minister Narendra Modi announced a financial task force to support sectors battered by the pandemic, experts said. After starting on a volatile note and swinging over 2,485 points, the BSE barometer ended 1,627.73 points or 5.75 per cent higher at 29,915.96. It hit a high of 30,418.20 and a low of 27,932.67. Similarly, the NSE Nifty zoomed 482 points, or 5.83 per cent, to close at 8,745.45. During the week, Sensex plummeted 4,187.52 points or 12.27 per cent, while Nifty sank 1,209.75 points or 12.15 per cent. ONGC was the top gainer in the Sensex pack on Friday, rallying 18.58 per cent, followed by UltraTech Cement (13.01 per cent), HUL (11.75 per cent), RIL (11.24 per cent), TCS (9.90 per cent), Tata Steel (9.60 per cent) and Asian Paints (8.91 per cent). Only HDFC Bank and IndusInd Bank settled in the red, shedding up to 1.39 per cent. Modi on Thursday announced setting up of a task force under Finance Minister Nirmala Sitharaman which will take necessary actions "shortly" after analysing the coronavirus pandemic situation. Experts were of the view that the Covid-19 task force may come out with concrete proposals very soon. The huge oil bounty from the crude crash can be used for this, said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, adding that PM's appeal is a curtain-raiser for the concrete actions to follow soon. Covid-19 cases in India rose to 195 on Friday after 22 fresh cases were reported from various parts of the country, according to the Health Ministry. "Tracking positive sentiments in the global markets, Indian indices closed up by around 6 per cent. It was in sync with Asian and European markets and was more of a relief rally driven by technicals rather than any fundamental change in outlook. "Hopes of further stimulus from Central banks across the world to contain the economic damage boosted global markets. The broader market indices were also up by around 4 per cent." said Vinod Nair, Head of Research at Geojit Financial Services. All sectoral indices ended with gains, with BSE energy, oil and gas, IT, FMCG, teck, metals and utilities rallying up to 9.96 per cent. Broader BSE midcap and smallcap indices surged up to 4.18 per cent. World over, market sentiments improved as governments stepped up measures to cushion the financial blow of the pandemic. Bourses in Shanghai, Hong Kong, Seoul closed up to 7 per cent higher. Stock exchanges in Europe too rallied up to 5 per cent. Meanwhile, the rupee appreciated 6 paise to 74.72 against US dollar intra-day. Global oil benchmark, Brent crude futures rose over 8.18 per cent to USD?30.80?per barrel. Globally, the death toll from the virus has risen to almost 10,000 with more than 2,32,000 cases in 158 countries and territories.

Relief rally: Markets snap 4-day bloodbath on stimulus hopes

Equity benchmark Sensex <a href="https://www.wionews.com/business-economy/sensex-starts-over-500-points-higher-nifty-above-8200-level-287501">soared over 1,800 points in afternoon session</a> on Friday amid hopes of a stimulus package as Prime Minister Narendra Modi announced a financial task force to combat the Covid-19 pandemic's economic fallout.

After starting on a volatile note, the BSE barometer was trading 1,848.07 points or 6.53 per cent higher at 30,136.30 at 1330 hours.

Similarly, the NSE Nifty was trading 515.50 points, or 6.24 per cent, up at 8,778.95.

ONGC was the top gainer in the Sensex pack, rallying up to 15 per cent, followed by TCS, Infosys, HUL, Ultratech Cement, Tech Mahindra and Asian Paints.

On the other hand, IndusInd Bank was the only laggard.

According to traders, investor sentiment turned positive on hopes of an economic stimulus to support the economy in wake of coronavirus (Covid-19) pandemic.

Prime Minister Narendra Modi on Thursday announced setting up of a task force under Finance Minister Nirmala Sitharaman which will take necessary actions "in the near future" after analysing the coronavirus pandemic situation.

According to government sources, Finance Minister Nirmala Sitharaman will hold a meeting with MSME Minister Nitin Gadkari, Animal Husbandry Minister Giriraj Singh, Civil Aviation Minister Hardeep Singh Puri and Tourism Minister Prahlad Singh Patel on Friday to assess the situation in order to work out a package.

Calling for "resolve and restraint" to fight coronavirus, Modi asked the entire country to observe 'Janta curfew' on Sunday.

In a nearly 30-minute national broadcast, he asked people to stay indoors and work from home as much as possible while underscoring the dangers of coronavirus, saying the world has never seen a crisis as grave as this.

The novel coronavirus cases in India rose to 195 on Friday after 22 fresh cases were reported from various parts of the country, according to the Health Ministry data.

Globally, the death toll from the virus has risen to over 9,800 with more than 232,650 cases in 158 countries and territories.

"The PM had set the stage for more action to follow. The Covid- 19 Task Force under the FM's leadership can be expected to come out with concrete proposals very soon," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

The huge oil bounty from the crude crash can be used for this, he said adding that PM's appeal is a curtain-raiser for the concrete actions to follow soon.

World over, market sentiments improved as governments stepped up measures to cushion the financial blow of the pandemic, analysts said, adding that concerns over the rapid spread of the virus remained.

Bourses in Shanghai, Hong Kong, Seoul jumped up to 7 per cent.

Stock exchanges on Wall Street too ended on a positive note on Thursday.

Meanwhile, the rupee appreciated 30 paise to 74.81 against US dollar intra-day.

Global oil benchmark, Brent crude futures rose over 5.73 per cent to $30.10 per barrel.&nbsp;

Equity benchmark Sensex soared over 1,800 points in afternoon session on Friday amid hopes of a stimulus package as Prime Minister Narendra Modi announced a financial task force to combat the Covid-19 pandemic's economic fallout.

Equity benchmark Sensex soared over 1,800 points in afternoon session on Friday amid hopes of a stimulus package as Prime Minister Narendra Modi announced a financial task force to combat the Covid-19 pandemic's economic fallout. After starting on a volatile note, the BSE barometer was trading 1,848.07 points or 6.53 per cent higher at 30,136.30 at 1330 hours. Similarly, the NSE Nifty was trading 515.50 points, or 6.24 per cent, up at 8,778.95. ONGC was the top gainer in the Sensex pack, rallying up to 15 per cent, followed by TCS, Infosys, HUL, Ultratech Cement, Tech Mahindra and Asian Paints. On the other hand, IndusInd Bank was the only laggard. According to traders, investor sentiment turned positive on hopes of an economic stimulus to support the economy in wake of coronavirus (Covid-19) pandemic. Prime Minister Narendra Modi on Thursday announced setting up of a task force under Finance Minister Nirmala Sitharaman which will take necessary actions "in the near future" after analysing the coronavirus pandemic situation. According to government sources, Finance Minister Nirmala Sitharaman will hold a meeting with MSME Minister Nitin Gadkari, Animal Husbandry Minister Giriraj Singh, Civil Aviation Minister Hardeep Singh Puri and Tourism Minister Prahlad Singh Patel on Friday to assess the situation in order to work out a package. Calling for "resolve and restraint" to fight coronavirus, Modi asked the entire country to observe 'Janta curfew' on Sunday. In a nearly 30-minute national broadcast, he asked people to stay indoors and work from home as much as possible while underscoring the dangers of coronavirus, saying the world has never seen a crisis as grave as this. The novel coronavirus cases in India rose to 195 on Friday after 22 fresh cases were reported from various parts of the country, according to the Health Ministry data. Globally, the death toll from the virus has risen to over 9,800 with more than 232,650 cases in 158 countries and territories. "The PM had set the stage for more action to follow. The Covid- 19 Task Force under the FM's leadership can be expected to come out with concrete proposals very soon," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. The huge oil bounty from the crude crash can be used for this, he said adding that PM's appeal is a curtain-raiser for the concrete actions to follow soon. World over, market sentiments improved as governments stepped up measures to cushion the financial blow of the pandemic, analysts said, adding that concerns over the rapid spread of the virus remained. Bourses in Shanghai, Hong Kong, Seoul jumped up to 7 per cent. Stock exchanges on Wall Street too ended on a positive note on Thursday. Meanwhile, the rupee appreciated 30 paise to 74.81 against US dollar intra-day. Global oil benchmark, Brent crude futures rose over 5.73 per cent to $30.10 per barrel.

Sensex rallies over 1,800 points; Nifty reclaims 8,700 level

As the BSE Sensex crashed on Thursday over the spread of <a href="https://www.wionews.com/india-news/all-passengers-coming-to-kashmir-from-leh-to-be-quarantined-srinagar-dm-287228">coronavirus </a>in the country, the Indian Rupee plunged 83 paise to 75.09 against the US dollar.

<a href="https://www.wionews.com/business-economy/coronavirus-fears-continue-to-hurt-indian-markets-sensex-tumble-nearly-2000-points-287286">Also Read:&nbsp;Coronavirus fears continue to hurt Indian markets</a>

The Sensex opened on a negative note on Thursday with the Sensex down 1,944.02 points down at 26,925.49 and Nifty falling 498.25 points to 8,468.80.

The Sensex recovered ground but was still down 763 points in afternoon trade.

<a href="https://www.wionews.com/india-news/coronavirus-confirmed-cases-rise-to-166-in-india-287283">Also Read:&nbsp;Coronavirus confirmed cases rise to 166 in India</a>

Brent crude futures rose 1.73 per cent to $25.31 per barrel on Thursday.

The rout in Indian stock markets occurred after Wall Street stocks plunged again on Wednesday as the Dow fell 6.3 per cent over 1,300 points to close at 19,898.92. It is the first time it &nbsp;closed below the 20,000 level since 2017.

The broad-based S&amp;P 500 also dropped 5.2 per cent to finish at 2,398.10, while the Nasdaq crashed 4.7 per cent to 6,989.84.

As the BSE Sensex crashed on Thursday over the spread of coronavirus in the country, the Indian Rupee plunged 83 paise to 75.09 against the US dollar. Also Read: Coronavirus fears continue to hurt Indian markets The Sensex opened on a negative note on Thursday with the Sensex down 1,944.

As the BSE Sensex crashed on Thursday over the spread of coronavirus in the country, the Indian Rupee plunged 83 paise to 75.09 against the US dollar. Also Read: Coronavirus fears continue to hurt Indian markets The Sensex opened on a negative note on Thursday with the Sensex down 1,944.02 points down at 26,925.49 and Nifty falling 498.25 points to 8,468.80. The Sensex recovered ground but was still down 763 points in afternoon trade. Also Read: Coronavirus confirmed cases rise to 166 in India Brent crude futures rose 1.73 per cent to $25.31 per barrel on Thursday. The rout in Indian stock markets occurred after Wall Street stocks plunged again on Wednesday as the Dow fell 6.3 per cent over 1,300 points to close at 19,898.92. It is the first time it closed below the 20,000 level since 2017. The broad-based S&P 500 also dropped 5.2 per cent to finish at 2,398.10, while the Nasdaq crashed 4.7 per cent to 6,989.84.

Coronavirus effect: Rupee plunges to 75.09 against US dollar

Coronavirus fears continue to infect the Indian markets on Thursday as the BSE Sensex sank 1,981 points in the early trade on Thursday.

As per the latest updates, the 30-share index was 1908. 96 points down or 6.61 per cent at 26,960.55 points. The NSE Nifty fell 584.15 points or 6.90 per cent and trading at 7,884.65 points.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/india-news/coronavirus-confirmed-cases-rise-to-166-in-india-287283">Coronavirus confirmed cases rise to 166 in India</a>

This drastic fall came as the COVID-19 cases rose to 166 in the country on Thursday.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/business-economy/sensex-closes-below-29000-level-crashes-1710-points-287212">Sensex closes below 29000 level, crashes 1710 points</a>

In the Sensex pack, only Powergrid and NTPC were trading in the green, with a rise of 2.22 per cent and 0.43 per cent respectively. Bajaj Finance is currently the worst performer in the 30-share index with a fall of 13.05 per cent in the share value. In the 50-share index, all the stocks are on a decline, with Infratel, Kotak Bank and Bajaj Finance shares down by 16.81, 13.17 and &nbsp;13.16 per cent respectively.&nbsp;

Global markets and oil markets plunged on Wednesday amid heightened coronavirus outbreak concerns, with Wall Street, the Dow Jones Industrial Average finishing below the 20,000-point level for the first time since 2017. &nbsp;&nbsp;

In Asia, Japan's Nikkei rose 404.70 points or 2.42 per cent in the early trade on Thursday after the European Central Bank announcing&nbsp;a 750-billion-euro scheme to revive the economy. However, Hong Kong's Hang Seng fell 946.89 or 4.25 per cent today to 21,344.93 points.&nbsp;

On Wednesday, the Sensex plunged 1,709 points to close at 28,869, while Nifty lost 498 points to end at 8,468, witnessing a new three-year low.&nbsp; 
&nbsp;

Coronavirus fears continue to infect the Indian markets on Thursday as the BSE Sensex sank 1,981 points in the early trade on Thursday. As per the latest updates, the 30-share index was 1908.

Coronavirus fears continue to infect the Indian markets on Thursday as the BSE Sensex sank 1,981 points in the early trade on Thursday. As per the latest updates, the 30-share index was 1908. 96 points down or 6.61 per cent at 26,960.55 points. The NSE Nifty fell 584.15 points or 6.90 per cent and trading at 7,884.65 points. Also read: Coronavirus confirmed cases rise to 166 in India This drastic fall came as the COVID-19 cases rose to 166 in the country on Thursday. Also read: Sensex closes below 29000 level, crashes 1710 points In the Sensex pack, only Powergrid and NTPC were trading in the green, with a rise of 2.22 per cent and 0.43 per cent respectively. Bajaj Finance is currently the worst performer in the 30-share index with a fall of 13.05 per cent in the share value. In the 50-share index, all the stocks are on a decline, with Infratel, Kotak Bank and Bajaj Finance shares down by 16.81, 13.17 and 13.16 per cent respectively. Global markets and oil markets plunged on Wednesday amid heightened coronavirus outbreak concerns, with Wall Street, the Dow Jones Industrial Average finishing below the 20,000-point level for the first time since 2017. In Asia, Japan's Nikkei rose 404.70 points or 2.42 per cent in the early trade on Thursday after the European Central Bank announcing a 750-billion-euro scheme to revive the economy. However, Hong Kong's Hang Seng fell 946.89 or 4.25 per cent today to 21,344.93 points. On Wednesday, the Sensex plunged 1,709 points to close at 28,869, while Nifty lost 498 points to end at 8,468, witnessing a new three-year low.

Coronavirus fears continue to hurt Indian markets, Sensex tumble nearly 2,000 points

India is planning a rescue package worth as much as $1.6 billion for the aviation sector, which has been battered after the coronavirus outbreak forced countries to close borders and brought air travel to a near-halt, two government sources told Reuters.

The Finance Ministry is considering a proposal that includes the temporary suspension of most taxes levied on the sector, including a deferment of aviation fuel tax, said the sources, who have direct knowledge of the matter.

The rescue package, proposed by India's civil aviation ministry, is likely to be worth up to 100-120 billion rupees ($1.3-$1.6 billion), the two sources said.

"Taxes could be deferred till the coronavirus spread is contained and the aviation sector can come back to its feet," one of the sources said, adding that the companies could be permitted to pay the taxes interest-free in the next tax cycle.

The coronavirus has infected over 200,000 people and caused nearly 8,500 deaths in 164 nations, triggering emergency lockdowns and injections of cash unseen since World War Two. In India, more than 150 people have been infected and three have died.

Governments the world over are scrambling to rescue airlines that have been forced to park planes and cut jobs as the virus puts the brakes on travel. Airlines may need a bailout of more than $200 billion, the International Air Transport Association (IATA) estimates.

The Trump administration, earlier on Wednesday, sought approval from Congress for $50 billion in secured loans to US airlines to address the financial impact during the crisis.

Vistara, a joint venture of Singapore Airlines and India's Tata Group, and budget carrier GoAir have suspended their international operations. IndiGo, India's biggest carrier, has cancelled several overseas flights and may be forced to park some planes as domestic air travel also falls.

Global aviation consultancy CAPA's India unit said that regardless of any fiscal concessions and support the government may offer, most airlines will have to shrink their operations and the more vulnerable carriers may shutdown.

CAPA estimates that Indian airlines, excluding state carrier Air India, will report losses of up to $600 million for the January-March quarter, which could worsen if demand continues to fall.

"In the absence of serious and meaningful government intervention, such an outcome could lead to several Indian airlines shutting down operations by May or June due to a lack of cash," CAPA said in its March 18 report.

India is planning a rescue package worth as much as $1.6 billion for the aviation sector, which has been battered after the coronavirus outbreak forced countries to close borders and brought air travel to a near-halt, two government sources told Reuters.

India is planning a rescue package worth as much as $1.6 billion for the aviation sector, which has been battered after the coronavirus outbreak forced countries to close borders and brought air travel to a near-halt, two government sources told Reuters. The Finance Ministry is considering a proposal that includes the temporary suspension of most taxes levied on the sector, including a deferment of aviation fuel tax, said the sources, who have direct knowledge of the matter. The rescue package, proposed by India's civil aviation ministry, is likely to be worth up to 100-120 billion rupees ($1.3-$1.6 billion), the two sources said. "Taxes could be deferred till the coronavirus spread is contained and the aviation sector can come back to its feet," one of the sources said, adding that the companies could be permitted to pay the taxes interest-free in the next tax cycle. The coronavirus has infected over 200,000 people and caused nearly 8,500 deaths in 164 nations, triggering emergency lockdowns and injections of cash unseen since World War Two. In India, more than 150 people have been infected and three have died. Governments the world over are scrambling to rescue airlines that have been forced to park planes and cut jobs as the virus puts the brakes on travel. Airlines may need a bailout of more than $200 billion, the International Air Transport Association (IATA) estimates. The Trump administration, earlier on Wednesday, sought approval from Congress for $50 billion in secured loans to US airlines to address the financial impact during the crisis. Vistara, a joint venture of Singapore Airlines and India's Tata Group, and budget carrier GoAir have suspended their international operations. IndiGo, India's biggest carrier, has cancelled several overseas flights and may be forced to park some planes as domestic air travel also falls. Global aviation consultancy CAPA's India unit said that regardless of any fiscal concessions and support the government may offer, most airlines will have to shrink their operations and the more vulnerable carriers may shutdown. CAPA estimates that Indian airlines, excluding state carrier Air India, will report losses of up to $600 million for the January-March quarter, which could worsen if demand continues to fall. "In the absence of serious and meaningful government intervention, such an outcome could lead to several Indian airlines shutting down operations by May or June due to a lack of cash," CAPA said in its March 18 report.

India mulls up to $1.6 billion rescue plan for aviation sector after coronavirus