You are here: Home » Markets » News
Business Standard

Market Ahead, April 15: All You Need To Know Before The Opening Bell

Wipro is slated to announce its Q4 numbers later in the day and most brokerages expect the company's revenue growth to come in at the lower end of the guided range of 0-2 per cent

Topics
Market Ahead | Markets | Coronavirus

BS Web Team  |  New Delhi 

Prime Minister Narendra Modi's decision to extend the nation-wide till May 3 will heavily impact Wednesday's session as investors return to their trading terminals after a day's break. In his televised address to the nation yesterday, Modi said detailed guidelines will be brought out today to ensure that outbreak does not spread to new areas while some relaxations may be allowed after April 20 in places where there are no hotspots.

Meanwhile, cases in India are on the rise and have surpassed 11,000 with death toll nearing 400. Globally, 130,000 people have died from Covid-19 and confirmed infections have exceeded 1.9 million.

There is also the buzz of another stimulus package. According to a report by Business Standard, the stimulus package is expected anytime this week and will be aimed at the urban and rural poor; disadvantaged sections of society; MSMEs; and some of the worst-affected sectors.

And even though the government is in works to cushion the Covid-19's blow to the country's economy, various institutions and rating agencies see dark clouds on the horizon. The has cut its projection of India’s economic growth to 1.9 per cent for the current financial year from its earlier forecast of a growth rate of 5.8 per cent due to the impact of the Covid-19 and the subsequent nationwide The IMF also said the global economy may shrink by 3 per cent in 2020 due to the virus outbreak, in the worst downturn since the Great Depression of the 1930s.

Similarly, has pegged the economic cost of the at $234.4 billion and thus revised down their GDP growth forecast for India further to 0 per cent for calendar year 2020 from 2.5 per cent earlier.

Another big focus for investors today will be the beginning of the earnings season. Wipro is slated to announce its Q4 numbers later in the day and most brokerages expect the company's revenue growth to come in at the lower end of the guided range of 0-2 per cent in the constant currency terms.

Investors will also track the India Meteorological Department's long range forecast for the south-west monsoon later today. The southwest monsoon season is extremely crucial for the agrarian economy as it provides over 75 per cent of the country's annual rainfall.

Now, let's have a quick look at global cues for today's trade. US stocks jumped on Tuesday on optimism that the Trump administration could move to ease lockdowns. The rose 2.4 per cent, the S&P 500 gained 3 per cent and the Composite added 3.95 per cent.

Asian indices were mixed in trade. Japan's and Australia's ASX were both down over half a per cent in early deals while Hong Kong was up 0.5 per cent. The Indian indices, though, look set to open higher as indicated by the SGX which is up nearly 200 points from Monday's close.

In energy markets, concerns about a global recession led crude oil prices to plunge by over 10 per cent overnight although they rebound a smudge early Wednesday. was up half a per cent to $29.80 a barrel.

Read by: Kanishka Gupta

MONTHLY STAR

Business Standard Digital

Business Standard Digital Monthly Subscription
149.00  
subscribe
Complete access to the premium product
Convenient - Pay as you go
Pay using Master/Visa Credit Card & ICICI VISA Debit Card
Auto renewed (subject to your card issuer's permission)
Cancel any time in the future
Requires personal information

What you get?

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all the content on any device through browser or app.
  • Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.
  • 18 years of archival data.

NOTE :

  • The product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the email with the cancellation request to assist@bsmail.in. Include your contact number for speedy action. Requests mailed to any other ID will not be acknowledged or actioned upon.

SMART MONTHLY

Business Standard Digital

Business Standard Digital - 12 Months
1499.00
subscribe
Get 12 months of Business Standard digital access
Single Seamless Sign-up to Business Standard Digital
Convenient - Once a year payment
Pay using an instrument of your choice - Credit/Debit Cards, Net Banking, Payment Wallets accepted
Exclusive Invite to select Business Standard events

What you get

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all content on any device through browser or app.
  • Exclusive content, features, opinions and comment - hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.

NOTE :

  • This product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the mail with the request to assist@bsmail.in. Include your contact number for easy reference. Requests mailed to any other ID will not be acknowledged or actioned upon.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, April 15 2020. 07:33 IST
RECOMMENDED FOR YOU
.