Firstpost
  • Home
  • Video Shows
    Vantage Firstpost America Firstpost Africa First Sports
  • World
    US News
  • Explainers
  • News
    India Opinion Cricket Tech Entertainment Sports Health Photostories
  • Asia Cup 2025
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
Trending:
  • Charlie Kirk shot dead
  • Nepal protests
  • Russia-Poland tension
  • Israeli strikes in Qatar
  • Larry Ellison
  • Apple event
  • Sunjay Kapur inheritance row
fp-logo
Stock Markets LATEST Updates: Markets rebound, end in green; Infosys, Adani Ports, HUL among major gainers
Whatsapp Facebook Twitter
Whatsapp Facebook Twitter
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
  • Home
  • Business
  • Stock Markets LATEST Updates: Markets rebound, end in green; Infosys, Adani Ports, HUL among major gainers

Stock Markets LATEST Updates: Markets rebound, end in green; Infosys, Adani Ports, HUL among major gainers

FP Staff • March 24, 2020, 16:22:07 IST
Whatsapp Facebook Twitter

Stock Markets LATEST Updates: Markets rebound, end in green; Infosys, Adani Ports, HUL among major gainers

Advertisement
Stock Markets LATEST Updates: Markets rebound, end in green; Infosys, Adani Ports, HUL among major gainers
March 24, 2020, 16:06:02 (IST)
Whatsapp Facebook Twitter

Markets rebound, end in green; Infosys, Adani Ports, HUL among major gainers

Equity benchmark indices failed to retain the sharp recovery in the afternoon trade despite Finance Minister Nirmala Sitharaman announced several relief measures for the industry and ended in the green.

The Sensex ended 692.79 points or 2.67 percent higher at 26674.03, while Nifty was up 190.80 points or 2.51% at 7801.05.
 
 

Infosys, Adani Ports, Britannia Industries, Bajaj Finance and HUL were among major gainers on the Nifty, while losers were Yes Bank, M&M, Grasim, IndusInd Bank and Power Grid Corp.

March 24, 2020, 15:54:41 (IST)
Whatsapp Facebook Twitter

Nirmala Sitharaman’s announcements ‘positive’

Vinay Pandit, Head Institutional Equities, IndiaNivesh said:  Relaxation on TDS and GST for all companies is a positive development for the market. It is effective funding at 0.75% per month which will aid cash flows and give breathing space to MSME, small cap and mid cap companies to manage their cash flows better.

                                         
Relaxation of board meetings by 60 days for next two quarters is effectively giving relaxation to corporates to gradually work towards audited results. However, instead of this, would have preferred to allow online / web based participation of directors for board meetings rather than requiring the physical presence for all board meetings, said Pandit.

March 24, 2020, 15:52:28 (IST)
Whatsapp Facebook Twitter

‘Reliefs for taxpayer need of the hour’

Kapil Rana, Chairman and founder, HostBooks Limited says: " Relaxation of Aadhaar-PAN linkage is the need of the hour and it’s a good decision by Finance Minister Nirmala Sitharam amidst pandemic Covid-19.  These reliefs to the taxpayer by extending various deadlines especially to link AADHAAR-PAN from 31.03.2020 to 30.06.2020 will creates a positive bonding between taxpayer and government."

March 24, 2020, 15:44:13 (IST)
Whatsapp Facebook Twitter

Extension of deadlines may not be enough if coronavirus cases continue

Abhishek Rastogi. Partner, Khaitan & Co, said, though extension of various deadlines and reduced interest in few cases both for the direct and indirect taxes is a very welcome move for industry as of now, it may not be enough in case the situation worsens in the days ahead.

“The government will have to proactively think about other measures as well so that appropriate timely benefit is passed on to businesses”, said Rastogi.

More from Business
Hyundai India’s Rs 27,870 crore IPO oversubscribed by 2.28X, largely driven by institutional investors Hyundai India’s Rs 27,870 crore IPO oversubscribed by 2.28X, largely driven by institutional investors How Indian fintech startups are driving Malaysia’s UPI-like digital payments revolution How Indian fintech startups are driving Malaysia’s UPI-like digital payments revolution
March 24, 2020, 15:39:05 (IST)
Whatsapp Facebook Twitter

‘Tax-filing extension a relief in difficult circumstances’

Archit Gupta, Founder and CEO, ClearTax said the various filing extensions and relief in compliance is essential for businesses to tide over these difficult circumstances.

Businesses must also use this time to explore ways to become more and more tech focussed. They must now move compliance completely digitally, use cloud based services, and build strong controls and systems so teams can work digitally and remotely, Gupta said.

“The situation may not improve in the near future. Hopefully, the economic package in the works will help businesses recoup from fall in revenues, which is very much likely in the coming quarter”, Gupta said.

March 24, 2020, 15:34:25 (IST)
Whatsapp Facebook Twitter

Customs clearance to operate 24×7 up to 30 June 30: Finance minister

Customs clearance will operate 24 x 7 upto june 30, 2020 to help exporters & importers: FM pic.twitter.com/PAcY5nWYPH

— CNBC-TV18 (@CNBCTV18Live) March 24, 2020
Advertisement
March 24, 2020, 15:34:20 (IST)
Whatsapp Facebook Twitter

‘Extension of Vivad se Vishwas scheme welcome’

Daksha Baxi, Partner, Cyril Amarchand Mangaldas said the extension of date for availing of vivad se vishwas scheme without additional payment of 10 percent is a ‘welcome and opportune step’.

“This will make it possible for taxpayers to assess their litigation position better and take advantage of this scheme where appropriate. It would have helped if the dates for TDS payment and compliances were also postponed,” Baxi said.

March 24, 2020, 15:22:39 (IST)
Whatsapp Facebook Twitter

Closely monitoring volatility in stock market, in contact with regulators: Sitharaman

Closely monitoring volatility in stock market, in contact with regulators three times a day: FM pic.twitter.com/IaJLXGN1hh

— CNBC-TV18 (@CNBCTV18Live) March 24, 2020
March 24, 2020, 15:20:56 (IST)
Whatsapp Facebook Twitter

Waiver for minimum balance is only 3 months, reiterates FM

At moment it is only 3 months for minimum balance required for account holders.

Regarding monthly EMIs, the banks will give you details, says Sitharaman.

March 24, 2020, 15:19:18 (IST)
Whatsapp Facebook Twitter

Nirmala Sitharaman’s announcements fail to cheer market

Sensex gave up the gains and lost about 700 points and was trading 529.28 points or 2.04 percent higher at 26,510.52 as Finance Minister Nirmala Sitharaman announced various relaxation measures for the industry.
 

The broader Nifty also lost about 200 points and was trading 142.15 points or 1.87 percent up at 7,752.40.

 
 

March 24, 2020, 15:17:56 (IST)
Whatsapp Facebook Twitter

Ministry, SEBI, RBI monitoring market trading: FM

All the regulators, the RBI and the Ministry of FInance, are working together to monitor the developments and the volatility in the stock market.

SEBI has come up with some set of guidelines and has stated its position due to volatility so that there is no greater instability in the market.

We are in contact in the morning, afternoon and evening regarding the market.

March 24, 2020, 15:16:07 (IST)
Whatsapp Facebook Twitter

No charge for next 3 months to withdraw cash from any ATM: Nirmala Sitharaman

Debit card holders who withdraw cash from any bank ATM can do it free of charge for next 3 months: @FinMinIndia pic.twitter.com/MCz4vJ6M1i

— CNBC-TV18 (@CNBCTV18Live) March 24, 2020
Advertisement
March 24, 2020, 15:14:25 (IST)
Whatsapp Facebook Twitter

Economic package is being worked out: Nirmala Sitharaman

The Prime Minister is closely monitoring the stiuation.

There is a multi-layered composition of task force — a group of industry leaders forming a sub group,  a group of MPs, a group of academics, a group of MPs–several such sub-groups are giving us inputs.

Finance Ministry is working intensely with the various sub-groups. Economic package is being worked out. We will announce that soon.

We are making these announcements to ease the burden of tax-related issues.

At 8 PM today, the Prime Minister will address a press conference.

There is a comprehensive looking into is happening with regard to the economy.

March 24, 2020, 15:10:56 (IST)
Whatsapp Facebook Twitter

Benchmark indices extend gains

Benchmark indices extended the gains and trading near the day’s high level after Finance Minister Nirmala Sitharaman announced the economic package will be announced sooner.

The Sensex is up 1,104.43 points or 4.25% at 27085.67, and the Nifty up 306.40 points or 4.03% at 7916.65. About 939 shares have advanced, 1167 shares declined, and 112 shares are unchanged.

March 24, 2020, 15:08:31 (IST)
Whatsapp Facebook Twitter

Delay of up to 1 month in arrival of consignment for fisheries to be overlooked: Finance Minister

FM: Delay of upto 1 month in arrival of consignment for fisheries will be overlooked: FM pic.twitter.com/FoiasgkuWB

— CNBC-TV18 (@CNBCTV18Live) March 24, 2020
March 24, 2020, 15:08:12 (IST)
Whatsapp Facebook Twitter

Digital trade transactions

Bank charges to be reduced for digital trade transactions for all trade finance consumers.

For all practical purpose, the principle to be adopted by commerce departments will be: Extension of timeline from proceedural, eligibility point of view but no extension or modification of scheme guidelines. 

Details to follow, says Sitharaman

March 24, 2020, 15:07:10 (IST)
Whatsapp Facebook Twitter

Debit-card holders can withdraw money from any bank ATM free for 3 months, says Sitharaman

Debit card holders who withdraw cash from any bank ATM can do it free of charge for next 3 months

No minimum balance requirement fee for account holders.

March 24, 2020, 15:03:01 (IST)
Whatsapp Facebook Twitter

Compliance-related to aquaculture

All SIPs for import of shrimp brute stock and other aqua culture inputs which were to expire on 1-March and 15 April 2020 are being extended for three months.

Delay up to one month of arrival of shipments to be condoned. It wont be considered as delay. “We shall overlook the delay,” said Sitharaman.

Rebooking of quarantine cubicle for cancelled consignment in aquatic quarantine faciilities in Chennai will be allowed without additional charges

Verification of documents and grants of NOC for quarantine will be relaxed from 7 days to 3 days.

Advertisement
March 24, 2020, 15:01:02 (IST)
Whatsapp Facebook Twitter

Threshold of default under IBC to be raised to Rs 1 cr: Sitharaman

Threshold for default under IBC currently Rs 1 lakh. We are raising threshold of default to Rs 1 cr to prevent triggering of #IBC for MSMEs: Finance Minister #CoronavirusCrisis pic.twitter.com/KhFabrgPoc

— CNBC-TV18 (@CNBCTV18Live) March 24, 2020
March 24, 2020, 14:56:37 (IST)
Whatsapp Facebook Twitter

IBC Section 7, 9, 10 may be relaxed

Threshold for default is Rs 1 lakh. From that existing threshold, it is being raised to Rs 1 crore to prevent triggering of insolvency cases against SMEs.

“We will watch the situation and if it improves, there is no worry. But if it continues to be like now, beyond 30 April, 2020, then we may consider suspending Section 7, Section 9 and Section 10 of the IBC for a period of six months.,” said Sitharaman.

March 24, 2020, 14:53:29 (IST)
Whatsapp Facebook Twitter

GST returns, composition returns date extended till 30 June: Finance minister

Last date for filing March, April, May GST Returns & Composition Returns extended till June 30, 2020: Finance Minister #coronavirus pic.twitter.com/T8wQPOINth

— CNBC-TV18 (@CNBCTV18Live) March 24, 2020
March 24, 2020, 14:53:12 (IST)
Whatsapp Facebook Twitter

Relaxation for company’s provisions

For newly incorporated companies, there had to make a declaration about the company. within six month. Now, there is an additional month of 6 months given to make the declaration.

If there is a company director in each company, who does not comply with the minimum residency in India which is 182 days at present, under Section 149 it was treated as a violation. It wont be treated as a 

This requirement is being allowed to be complied with by 30 June, 2020–deadline for requiring a 20 percent deposit reserve has been shifted to 30 June, 2020.

There is a requirement now for investing 15 percent of debentures maturing during a speicfic year in specified instrument before 30 April, 2020. It can now be done till 30 June, 2020

March 24, 2020, 14:49:51 (IST)
Whatsapp Facebook Twitter

No additional 10% charge on Vivaad Se Vishwas scheme till 30 June: Sitharaman

No additional 10% charge on #VivaadSeVishwas scheme till June 30, 2020: FM #NirmalaSitharaman pic.twitter.com/bZAPrQsa4K

— CNBC-TV18 (@CNBCTV18Live) March 24, 2020
March 24, 2020, 14:47:26 (IST)
Whatsapp Facebook Twitter

Relaxation of dates for Board meetings 

In respect of MCA 21 registry, there is a moratarioum issued from 1 April onward till 30 September 2020–there is no additional fees for late filing. 

There is a mandatory rule for holding board meetings. Now, there is a relaxation of a period of 60 days till the next two quarters.

Applicability of company’s orders 2020 shall be made applicable financial year 2020-21 instead of 2019-20. Company’s auditors orders which was to come into force in 2019-20 will be now effective from the year 2020-21.

For year 2019-20, independent directors of company have not been able to hold even one meeting it wont be seen as a violation

Advertisement
March 24, 2020, 14:44:25 (IST)
Whatsapp Facebook Twitter

Aadhaar-PAN linking date to be extended to 30 June: Finance Minister

Vivaad Se Vishwas scheme extended to June 30, 2020: Finance Minister @nsitharaman #coronavirus pic.twitter.com/Da8oqQNoHF

— CNBC-TV18 (@CNBCTV18Live) March 24, 2020
March 24, 2020, 14:44:14 (IST)
Whatsapp Facebook Twitter

Customs to work as an essential duty

During this period as at present when there is lockdown, we do not want to put any importer-exporter to be in difficulty. Custom clearance till 30 June 2020 will operate 24×7

March 24, 2020, 14:42:24 (IST)
Whatsapp Facebook Twitter

Customs and central-excise announcement

Sabka Vishwas scheme had a last date of 31 March, 2020. Sabka Vishwas for settling disputes in indirect tax regime. That was concluded in January and then extended till 31 March, 2020. Now it is extended to 30 June, 2020. 

During this period, people who are paying will have no interest to be paid

March 24, 2020, 14:39:26 (IST)
Whatsapp Facebook Twitter

No move to impose financial emergency, says govt 

Government says no move to impose financial emergency as was claimed by some reports#coronavirusindia pic.twitter.com/TfLVE57shT

— CNBC-TV18 (@CNBCTV18Live) March 24, 2020
March 24, 2020, 14:39:19 (IST)
Whatsapp Facebook Twitter

GST-related relief announcements

Last date for filing March-April-May 2020 GST returns and also composition returns are extended to 30 June, 2002

In case of GST, because of earlier given staggering dates given which will be applicable.

Particularly, for companies which have less than Rs 5 cr turnover, no interest, no late fee and no penalty charged

For bigger companies, late fee and penalty will be levied and interest at reduced rate of 9 percent will be charged.

The date for opting for composition scheme is extended to 30 June, 2020

March 24, 2020, 14:32:28 (IST)
Whatsapp Facebook Twitter

Extension for filings

Various other dates for notice filing is extended to 30 June 2020

Aadhaar PAN linking date extended to 30 June, 2020. Last date was earlier 31 March, 2020

Vivaad se Vishwaas scheme has been extended to 30 June, 2020. From now till 30 June, 2020, no 10 percent additional charge. Earlier 30 March, 2020, there was no additional charge. From 1 April, 2020 till June-end, there was additional 10 percent.

Advertisement
March 24, 2020, 14:29:44 (IST)
Whatsapp Facebook Twitter

Income-tax related compliances 

Referring to the financial year 2018-19: the last date for Income Tax returns will be extended to 30 June, 2020

For delayed payments till 30 June for financial year 2018-19 interest rate is 9 percent.

No extension but on delayed deposit of TDS, reduced interest of 9 percent till 30 June 2020 against current 20 percent.

March 24, 2020, 14:29:13 (IST)
Whatsapp Facebook Twitter

Economic package to be announced sooner rather than later: Nirmala Sitharaman

#Breaking | Economic package will be announced sooner rather than later: FM @nsitharaman #coronavirus pic.twitter.com/kHExCuSNgv

— CNBC-TV18 (@CNBCTV18Live) March 24, 2020
March 24, 2020, 14:27:52 (IST)
Whatsapp Facebook Twitter

Ecomomic package to be announced soon: Nirmala Sitharaman

Finance Minister Nirmala Sitharaman said that an economic package will be announced soon. 

She also appealed to people to remain safe.

March 24, 2020, 14:25:51 (IST)
Whatsapp Facebook Twitter

Finance Minister states the agenda

Compliance related to income tax matters, compliance and deadlines related to GST, customs and central excise-related; compliance and regulations under MCA; announcement on IBC-related matters; fisheries compliances; bank-related matters; commerce-related compliance

March 24, 2020, 14:23:25 (IST)
Whatsapp Facebook Twitter

Finance Minister Nirmala Sitharaman speaks

The lockdown is done with intention of flattening the curve for coronovirus. I thank you all for joining us. Work is going on and we are very close to coming out with an economic package that will be announced sooner or later.

March 24, 2020, 14:22:13 (IST)
Whatsapp Facebook Twitter

Finance Minister Nirmala Sitharaman’s press conference begins

Finance Minister Nirmala Sitharaman’s press conference begins.

Advertisement
March 24, 2020, 14:22:13 (IST)
Whatsapp Facebook Twitter

Finance Minister Nirmala Sitharaman’s press conference begins

Finance Minister Nirmala Sitharaman’s press conference begins.

March 24, 2020, 14:18:24 (IST)
Whatsapp Facebook Twitter

ANMI requests SEBI to shut down stock exchanges

Association of National Exchanges Members of India (ANMI) on 23 March  requested capital market regulator SEBI to shut down stock exchanges exchanges if state governments do not declare broking and depository operations as essential services.

Earlier, ANMI had requested SEBI to issue advisory to State Governments to include ‘stock broking and depository services’ as essential services and inform all state governments to issue necessary guidelines to that effect.

ANMI members and their staff are facing huge problems to reach their head office to operationalize their central server, back-office functions, risk management, and depository services to meet the requirements of their clients and compliance of Exchanges/ SEBI, said ANMI.

March 24, 2020, 13:47:58 (IST)
Whatsapp Facebook Twitter

European indices open sharply higher, in-line with global peers

#CNBCTV18Market | European indices open sharply higher, in-line with global peers#CoronavirusOutbreak #CoronavirusPanemic pic.twitter.com/LzNZtBNoe0

— CNBC-TV18 (@CNBCTV18Live) March 24, 2020
March 24, 2020, 13:44:17 (IST)
Whatsapp Facebook Twitter

Nifty above 7,900-level

#CNBCTV18Market | Market extends gains, #Nifty back above 7900, #Sensex above 27,000 pic.twitter.com/xN75qKMuqL

— CNBC-TV18 (@CNBCTV18Live) March 24, 2020

  Stock Markets LIVE Updates: Markets rebound, end in green; Infosys, Adani Ports, HUL among major gainers Union Finance Minister Nirmala Sitharaman has said that the government is preparing an economic package to tide over the crisis created by coronavirus pandemic. “We are readying an economic package to help us through the corona lockdown and will be announced soon,” Sitharaman said in a tweet. Sitharaman to address media at 2 pm The finance minister will address a press conference at 2 pm on Tuesday Sensex zoomed 877.65 points or 3.38 percent to 26,858.89 while Nifty jumped 248.10 points or 3.26 percent to 7,858.35  in the afternoon trade on Tuesday. Infosys rallied 10 percent after the US Securities and Exchanges Commission (SEC) gave a clean chit to the Indian company in the whistleblower case. Prime Minister Narendra Modi reportedly asked Finance Minister Nirmala Sitharaman and NITI Aayog to work out an economic relief plan in the wake of the rise in coronavirus cases in the country. Economic package may be made for daily wagers, corporates and empolyees, reported CNBC TV18 quoting government sources. Equity benchmark indices staged a major recover in the late morning trade. Sensex soared over 600 points while the broader Nifty jumped above 7,800-level. Sensex was trading 672.70 points or 2.59 percent higher at 26,653.94 and the Nifty surged 191.15 points or 2.51 percent to 7,801.40 at around 11.45 AM. Infosys is the top gainer in the Sensex pack at 7.85 percent. Other gainers included HUL, Tech Mahindra, Sun Pharma, Asian Paints, Reliance Industries, TCS, ONGC, HCL Tech and NTPC. Investors said other central banks can be expected to follow suit with bold measures to ease the strained financial and credit markets. Earlier, the BSE Sensex opened in the red and was down by 40 points to 25,941 while the Nifty 50 edged lower by 20 points to 7,591. Sectoral indices at the National Stock Exchange (NSE) were mixed with Nifty IT ticking up by 4.1 percent, pharma by 2.8 percent, and FMCG by 1.5 percent. But Nifty private bank was down by 1.4 percent and realty by 1.3 percent. Among stocks, IT major Infosys was the top gainer, moving up 7.9 percent to Rs 568.40 per share. Tech Mahindra edged up by 3.8 percent, HCL Technologies by 3.5 percent and Wipro by 3.4 percent. Index heavyweight Reliance Industries was up by 3.1 percent to Rs 911.65 while FMCG majors Hindustan Lever and Britannia gained by 6.1 percent and 2.8 percent respectively. The other prominent gainers were Adani Ports, Cipla and Sun Pharma. However, IndusInd Bank plunged by nearly 15 percent to Rs 286 per share. Titan, Bharti Infratel, Hero MotoCorp and Bharat Petroleum Corporation traded with a negative bias. Meanwhile, the Asian stocks rallied on Tuesday as the US Federal Reserve’s sweeping pledge to spend whatever it took to stabilize the financial system eased debt market pressures, even if it could not offset the immediate economic hit of the coronavirus.

#CNBCTV18Market | Asian indices trade sharply higher, currently at day's high#CoronavirusOutbreak pic.twitter.com/yXsaQX5sn2

— CNBC-TV18 (@CNBCTV18Live) March 24, 2020

While Wall Street seemed unimpressed, investors in Asia were encouraged enough to lift E-Mini futures for the S&P 500 by 1.9 percent and Japan’s Nikkei by 4.9 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan added 1.2 percent, though that followed a drop of almost 6% on Monday. South Korea and Australia also recouped a little of their recent losses. In its latest drastic step, the Fed offered to buy unlimited amounts of assets to steady markets and expanded its mandate to corporate and muni bonds. The numbers were certainly large, with analysts estimating the package could make $4 trillion or more in loans to non-financial firms. “This open-ended and massively stepped-up program of QE is a very clear signal that the Fed will do all that is needed to maintain the integrity and liquidity of the Treasury market, key asset-backed markets and other core markets,” said David de Garis, a director of economics at NAB. “COVID-19 developments remain the wild card, as is the development of government policies to support cash flow and the economy.” The Fed’s package helped calm nerves in bond markets where yields on two-year Treasuries hit their lowest sine 2013, while 10-year yields dropped back sharply to 0.77 percent. Yet analysts fear it will do little to offset the near-term economic damage done by mass lockdowns and layoffs. Speculation is mounting data due on Thursday will show U.S. jobless claims rose an eye-watering 1 million last week, with forecasts ranging as high as 4 million. Goldman Sachs warned the US economic growth could contract by 24% in the second quarter, two-and-a-half times as large as the previous postwar record. A range of flash surveys on European and US manufacturing for March are due later on Tuesday and are expected to show deep declines into recessionary territory. While governments around the globe are launching ever-larger fiscal stimulus packages, the latest US effort remains stalled in the Senate as Democrats said it contained too little money for hospitals and not enough limits on funds for big business. The logjam combined with the stimulus splash from the Fed to take a little of the shine off the US dollar, though it remains in demand as a global store of liquidity. “The special role of the USD in the world’s financial system – it is used globally in a range of transactions such as commodity pricing, bond issuance and international bank lending—means USD liquidity is at a premium,” said CBA economist Joseph Capurso. “While liquidity is an issue, the USD will remain strong.” The dollar eased just a touch on the yen to 110.90 after hitting a one-month top at 111.59 on Monday, while the euro inched up to $1.0754 EUR= from a three-year trough of $1.0635. The dollar index stood at 102.120, off a three-year peak of 102.99. Gold surged in the wake of the Fed’s promise of yet more cheap money, and was last at $1,564.51 per ounce having rallied from a low of $1,484.65 on Monday. Oil prices also bounced after recent savage losses, with US crude up 64 cents at $24.00 barrel. Brent crude firmed 53 cents to $27.56.

End of Liveblog
Latest News
Find us on YouTube
Subscribe
End of Liveblog

Impact Shorts

Chennai Ranks #1 in Challan Checks: ACKO Insights for Smarter Car and Two Wheeler Insurance Decisions

Chennai Ranks #1 in Challan Checks: ACKO Insights for Smarter Car and Two Wheeler Insurance Decisions

Chennai leads India in challan checks, with drivers checking their e-challans over 5 times a month on average. Helmet non-compliance is the most broken rule, accounting for 34.8% of all traffic offences in Chennai. Regular digital challan checks help drivers avoid hefty fines, promote safe driving, and improve insurance premiums.

More Impact Shorts

Top Stories

Charlie Kirk, shot dead in Utah, once said gun deaths are 'worth it' to save Second Amendment

Charlie Kirk, shot dead in Utah, once said gun deaths are 'worth it' to save Second Amendment

From governance to tourism, how Gen-Z protests have damaged Nepal

From governance to tourism, how Gen-Z protests have damaged Nepal

Did Russia deliberately send drones into Poland’s airspace?

Did Russia deliberately send drones into Poland’s airspace?

Netanyahu ‘killed any hope’ for Israeli hostages: Qatar PM after Doha strike

Netanyahu ‘killed any hope’ for Israeli hostages: Qatar PM after Doha strike

Charlie Kirk, shot dead in Utah, once said gun deaths are 'worth it' to save Second Amendment

Charlie Kirk, shot dead in Utah, once said gun deaths are 'worth it' to save Second Amendment

From governance to tourism, how Gen-Z protests have damaged Nepal

From governance to tourism, how Gen-Z protests have damaged Nepal

Did Russia deliberately send drones into Poland’s airspace?

Did Russia deliberately send drones into Poland’s airspace?

Netanyahu ‘killed any hope’ for Israeli hostages: Qatar PM after Doha strike

Netanyahu ‘killed any hope’ for Israeli hostages: Qatar PM after Doha strike

Top Shows

Vantage Firstpost America Firstpost Africa First Sports
Latest News About Firstpost
Most Searched Categories
  • Web Stories
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Tech/Auto
  • Entertainment
  • IPL 2025
NETWORK18 SITES
  • News18
  • Money Control
  • CNBC TV18
  • Forbes India
  • Advertise with us
  • Sitemap
Firstpost Logo

is on YouTube

Subscribe Now

Copyright @ 2024. Firstpost - All Rights Reserved

About Us Contact Us Privacy Policy Cookie Policy Terms Of Use
Home Video Shorts Live TV