Sensex breaks 1700 points in wake of Corona virus

-



- Sensex 38 month high while Nifty 39 month bottom

Mumbai, Ta. 19 March 2020, Thursday

The stock market opened today with a sharp decline on Thursday. The Sensex opened at the level of 27371.54 points down by 1497.97 points, with the Nifty opening at the level of 8080.30 points with a 438.00 point decrease. At the start of the BSE, a total of 3031 companies were trading, with about 963 shares gaining momentum while 1882 opened with a sharp decline. So the shares of 186 companies opened without a downside. The rupee opened 67 paise lower at 74.94 against the dollar today.

March 19, 10:26 According to MCX, the price of gold is 13,442.92 per 10 grams, which is 1.73% lower than on Wednesday.



March 19, 10:17 The market cap of the market was reduced by Rs 6 lakh crore in 60 minutes


As of 19 March, 10:05 , the Sensex was trading at 27,111.67, down 1,1757.84 (6.09%).


The impact of the darkening of the American markets was seen
The impact of the downturn of American markets on the Indian market remains to be seen. Dow Jones closed down 6.30 percent in the US market on Wednesday. However, the Asian market is seeing a boom today. For the first time since December 27, 2016, the Nifty has fallen below 8,000. During the trading period, K 576 points fell to 7,832.95.

Indian stock markets also saw a sharp fall on Wednesday. The BSE closed at 28,869, down 1709.58 points, breaking the psychological level of 29 thousand, while the Nifty closed at 4,051.50 down 425.55 points.

British pounds from Corona are also ill, against the dollar at the bottom of the year 1985
 The currency of the Corona virus has hit Britain's currency. The value of the British pound against the American dollar has dropped to the lowest level since 1985. The value of the British pound, which has been prioritized by the US dollar as a safe investment by investors in the midst of the economic downturn, has fallen.

British currency's exchange rate fell 1.8 percent to £ 1.182 against the US dollar on Wednesday. Which subsequently improved slightly to $ 1.186.

It is worth mentioning that, despite the Chancellor's announcement of a £ 350 billion concession package to support the British economy against the Corona virus on Tuesday, British currency against the dollar has weakened. "The biggest decline in the value of the British pound against the US dollar was on Wednesday," said Nail Wilson, an analyst at Markets.com. It is at its lowest level since 1985, if followed by a sharp decline in October 2016. He further said that investors are prioritizing investing in dollars instead of British pounds to avoid risk, which has led to further weakening of the pound.

RBI will buy Rs 10,000 crore government bond to increase liquidity
The financial sector has also been hit hard by the rise of the Corona virus epidemic. To cover this sector, RBI has announced the purchase of a bond of Rs.10,000 crore under open market operation. The RBI said it would buy government securities worth Rs 10,000 crore on March 20 under open market operations.

The function of the open market operation is to increase the financial liquidity of RBI banks by purchasing bonds and providing them funds. RBI said in a statement that the financial position of some financial market segments was weakened due to the epidemic of Corona virus. It is very important that they can be given stability by increasing liquidity.

The Indian stock market was also hit hard on Wednesday due to pressure on the financial sector. The Sensex-Nifty has tumbled to its lowest level in three years. The RBI said that the result would be declared only on the day of the auction of the bonds and the successful bidders would have to make payments during the banking business period on March 23.

The restaurant industry's revenue will drop 60 percent, unemployed 1 million people
The impact of the shock on the economy due to the Corona virus is also affecting jobs in different sectors. In the coming days, one million people may lose their jobs in the restaurant industry. According to Anurag Katiyarnu, president of the National Restaurant Association of India, the restaurant business's revenue has dropped 60 percent due to the corona virus. Online orders have also fallen by 20 percent.

One million people will lose jobs
So that in the coming days, one million people may lose jobs in this industry. It is pertinent to mention that, currently 70 lakh people are employed in this sector. In addition, Katiyaru says, many restaurants have even cut staff salaries. So we demand that electricity companies now give us relief on electricity bills.

The aviation industry is also impressed
The airlines industry, on the other hand, is also being affected. The airline Go Air has ordered all its employees to leave without pay. Air India has reduced the aircraft crew staff allowance by 10%. Entertainment allowances received by pilots have also been canceled.

Comments

Post a Comment

Popular posts from this blog

Due to the ban, employment and economic activity declined by two to three percent

-
Image
New delhi date. October 7, 2019, Monday A new study has found that employment and economic activity have declined by two to three percent due to the ban. A similar situation has been observed in bank lending. The study found the decline to occur within two months of the notation announced on November 7. This is the first research on demineralization in which data on the effects of districts across India were collected. In addition to the districts, the effect of national level was also studied. Previous studies only examined the national level effect of demonitization. Thus, a full estimate of the overall effect is not known. As a result of the shortage of cash arising out of the blockade, the country's economic activity fell by approximately 8 percent in November-December 2 In the October-December period, bank credit has seen an impact of around two per cent. Cash pulls have impacted demand for a short period. The study found that there was a strong link between money and pro...
Read more

Information about soymilk and casein products

-
Image
- Industrial guidance - Dhiru Parekh Soymilk: Soybeans are converted to high-quality protein. So that high quality drinks can be made which can be easily digested. There is no difference between soymilk and cow's milk. So the conservative industries of milk processing are now using this milk to make yogurt and ice cream. Consumers also cannot tell the difference between ice cream made from cow's milk and from soy milk. Also, the production capacity of soy milk can be increased than that of cow's milk. And the price can be cheaper. Soybeans mainly contain two types of enzymes that are inactivated in the soymilk process. Leukoxidase that catalyzes the oxidation of fatty acids. And enzymes like pepsin, trypepsin are included in it. Which helps in digesting protein. Soyamilk powder manufacturing process: This is an electric pre-heater system. which basically allows fluid to flow easily in a stationless tube under low-voltages. which absorbs the energy flowing through the Ja...
Read more

The brokerage firm objected to SEBI's new proposal regarding Algo Trading

-
Image
MUMBAI: Brokerage firms and fintech companies have objected to market regulator SEBI's discussion paper considering all stock trading orders issued through Application Programming Interface (API) as separate trading, saying it could adversely affect the growth of such trading from India. Algo trading is considered to be an automatic buying-selling system based on algorithms. SEBI has recently said in a discussion paper that it would create a framework for regulating Algo trading by retail investors. A senior official of a brokerage firm said that monitoring of Algo trading is a need of the hour, but such an attempt could hamper the growth of Sebi Algo trading. He added that if the suggestions made in the SEBI discussion paper were implemented, it would be difficult for brokers to make the API available. About 70% of the daily trading volume in Indian stock markets is transacted through advanced forms of algo trading. Algo Trading came to India in the year 2006, but then only se...
Read more