Market Snapshot As on 26 March 2020
Key Points to Remember are:
- Sensex logs biggest 1-day gain in 11 years, up 1,862 points to 28,536.
- India VIX falls 7.94% to 76.96
- Nifty P/E at 18.74, Nifty Midcap 100 P/E at 17.14
Factors Which Driven Market Upside:
- Indian markets join rally in global markets as US reaches on an agreement for a massive economic stimulus bill
- Reliance top gainer on reports that Facebook Inc. in talks to pick stake in Jio
- Finance ministry is also working on finalising a stimulus plan
Debt Market Overview:
- CRISIL downgrades Air India NCDs amounting to Rs700 crore to BB+ with negative implication
- Banks offer fresh lines of credit to SME firms amid lock down
- Center may consider relaxation of NPA norms for banks amid rising risk of loan defaults due to lock down
- Lending by NBFCs to Agri, MSMEs and housing sector will be treated as priority sector from FY21
Macro:
- Centre to hike monthly quota of subsidized food grains to 7 kg per person
- Economy to take Rs40K-cr hit daily during 21-day lockdown: CARE Ratings
- Non-life insurers register 14% premium collection growth in Apr-Feb FY20
- Rs60k-crore income support plan for poor in works
- CCEA approves Rs1,340-cr re-capitalization for weak regional rural banks
- S&P 500 rallies for second day as investors await $2 trillion aid package
- China lifts lock down in Wuhan; upgrades risk level from high to medium
- Corona virus impact: Hoarding of food in countries, threatens global trade
- Airbnb seeks extension of $1-bn debt facility from banks
- Canada announces stimulus package, promises cash, student loan delays
Sources:
Various publications
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