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Market Ahead, April 28: All You Need To Know Before The Opening Bell

According to a Business Standard report, the Centre is considering a proposal to guarantee Rs 3 trillion of loans to small businesses as part of a plan to restart economy

Topics
Market Ahead | Markets | Coronavirus

BS Web Team  |  New Delhi 

Investors will today track corporate earnings and coronavirus-related newsflow. The two-day meeting which starts today will be on investors' radar.

Let's look at the global cues for today which are largely benign. gained more than 1 per cent overnight at the onset of a hectic earnings week. The and the gained 1.5 per cent each and the Composite added 1.1 per cent.

Asian stocks were mixed in Tuesday's early deals. Japan's Nikkei was down 0.4 per cent while Australian ASX 200 was up 0.2 per cent and Hong Kong's Hang Seng index was up 0.2 per cent. The may open with a gap-up today with the up 100 points from the Nifty future's previous close.

In commodities, oil plunged again on Monday on continued concerns about oversupply and a lack of storage space. US WTI futures fell 24.6 per cent to settle at $12.78 a barrel while slid 6.8 per cent to settle at $19.99 a barrel.

In corporate results, yesterday reported a mixed performance in its Q4 wherein the bank's top line beat the Street’s expectations while the bottom line fell way short of estimates. The bank’s net profit fell 16 per cent YoY to Rs 301.8 crore.

is scheduled to announce its March quarter results today. According to analysts, double digit loan growth and high credit cost is likely to cushion against the likely increase in stressed assets due to the Covid-19 outbreak although this could impact the bank's net profit for the quarter.

Meanwhile, India's total count of Covid-19 cases has reached 29,451 and the death toll currently stands at 939, according to Worldometer data. With cases continually rising, the nationwide may be extended beyond May 3, as many states told Prime Minister Narendra Modi in a video-conference meeting on Monday that it’s not the time yet to lift the curbs. Globally, over 30 lakh people have been infected by corona and 211,433 have died from the disease.

Yesterday, rating agency cut its projections for India’s economic growth rate to 1.8 per cent, from 3.5 per cent it had earlier predicted for FY21.

According to a Business Standard report, the Centre is considering a proposal to guarantee Rs 3 trillion of loans to small businesses as part of a plan to restart economy.

Market regulator has announced a sharp cut in the fees it levies on market activity, such as trading and filing of offer documents to boost market activity, which has been hit by the Covid-19 pandemic.

will be in focus today after the company said its board would consider a proposal to issue equity shares to existing shareholders on a rights basis, during its board meeting on Thursday.

Read by: Kanishka Gupta

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First Published: Tue, April 28 2020. 07:00 IST
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