1 / 101. Asia: Stocks in Asia Pacific were mixed in Wednesday morning trade as the S&P 500 stateside rose to a new record overnight. In Japan, stocks saw a turnaround as the Nikkei 225 advanced 0.28 percent while the Topix index gained 0.19 percent. Mainland Chinese stocks were lower in early trade, as the Shanghai composite dipped 0.34 percent while the Shenzhen component shed 0.631 percent. South Korea’s Kospi advanced 0.82 percent. Shares in Australia rose, as the S&P/ASX 200 gained 0.95 percent. Overall, the MSCI Asia ex-Japan index traded 0.32 percent higher, reported CNBC International. (Image: Reuters)
2 / 102. US: U.S. stock futures were flat in overnight trading on Tuesday, after the S&P 500 hit its highest level ever, wiping out all the losses from the coronavirus sell-off. Dow futures rose 18 points. The S&P 500 and Nasdaq 100 futures gained 0.04 percent and 0.05 percent, respectively. On Tuesday, the S&P 500 rose to its highest level ever, gaining back all of the index’s coronavirus-related losses. The Nasdaq Composite also notched a record on Tuesday after gaining 0.7 percent, reported CNBC International. (Image: Reuters)
3 / 103. Market At Close On Tuesday: Indian shares ended over a percent higher on Tuesday led by gains in financials, metal and auto stocks, following positive trends in Asian peers. The Sensex ended 477 points higher at 38,528 while the Nifty rose 138 points to settle at 11,385. Other Asian markets gained with MSCI’s broadest index of Asia-Pacific shares outside Japan rising 0.19 percent. In the domestic indices, the bank index jumped over 2 percent while the metal index added 1.7 percent. Nifty Auto was also up 1 percent and Nifty FMCG gained 0.5 percent for the day. Nifty Pharma was the only index in the red today.(Image: Reuters)
4 / 104. Crude Oil: Oil prices steadied on Tuesday as demand fears from the new coronavirus offset high compliance with supply cuts from the OPEC+ producer group. Brent crude futures rose 4 cents to $45.41 a barrel by. U.S. West Texas Intermediate crude futures were unchanged at $42.89 per barrel, reported CNBC International. (Image: Reuters)
5 / 105. Rupee Close: The Indian currency ends higher on Tuesday amidst strong domestic equities. The rupee ended at 74.76 against the US dollar as compared to the Monday's close of 74.89. (Image: Reuters)
6 / 106. Indian Govt On Stake Sale In Banks: Indian Prime Minister Narendra Modi's office has asked officials to speed up the process of trimming government stakes in at least four primarily state-owned banks within the current fiscal year, according to two officials familiar with the discussions. The sources said the four lenders are Punjab & Sind Bank, Bank of Maharashtra, UCO Bank and IDBI Bank, in which the Indian government owns majority stakes through direct and indirect holdings. New Delhi wants to overhaul the banking sector and is also pushing the privatisation of banks and other state-run companies to help raise funds for budgeted spending amid a fall in tax collections due to the economic downturn caused by the pandemic. (Image: Reuters)
7 / 107. Finance Ministry, PMO On Basic Customs Duty: The Ministry of Finance and the Prime Minister's Office (PMO) will soon discuss a fresh overhaul for basic customs duties across categories this week, sources told CNBC-TV18. These discussions, are primarily to consider the on-going exercise to hike customs duties in line with the 'Atmanirbhar Bharat' program, to support and encourage domestic manufacturing, sources said, who did not want to be named. These discussions are likely to be on more than 300 items and an immediate hike is likely to be approved for “textiles, electronic goods such as cameras and laptops, solar modules, solar panels, and solar inverters.” Besides, some import restrictions could also be put in place for some steel and aluminium products, sources added. (File Photo: IANS)
8 / 108. RBI Framework For Retail Payments: The Reserve Bank unveiled the framework for setting up umbrella entities for operating pan-India retail payments systems and invited applications from eligible companies by February 26, 2021. As per the framework, the companies with a net worth of over Rs 500 crore will be eligible to set up an umbrella entity which among other things will be permitted to set up, manage and operate new payment systems in the retail space comprising ATMs, White Label PoS, Aadhaar-based payments and remittance services. "The Reserve Bank invites applications for the umbrella entity which shall be submitted in the prescribed form (Form A) till the close of business on February 26, 2021," said a central bank press release. (stock image)
9 / 109. AIMTC Urges RBI To Extend Moratorium Till Dec 31: Apex transporters body AIMTC on Tuesday urged the Reserve Bank of India (RBI) to extend the moratorium on payment of loans for road transport sector till December 31, saying the sector was reeling under financial crisis. In March, the central bank had allowed a three-month moratorium on payment of all term loans due between March 1, 2020, and May 31, 2020, which in May was extended by another three months till August to provide much-needed relief to borrowers whose income has been hit due to the coronavirus crisis. "The road transport sector in India is highly distressed, reeling in deep financial crisis due to fallout of corona-induced lockdowns and there is little hope of its revival in the current Financial Year...The critical condition of the road transport sector is impacting more than 20 crore people, directly and indirectly," AIMTC said in a letter to the RBI Governor. (Photo: IANS)
10 / 1010. DMRC Slashes Employee Perks By 50%: Facing "adverse financial condition" due to non-operation of metro services amid the coronavirus pandemic, the Delhi Metro authorities have decided to reduce perks and allowances of its employees by 50 per cent, according to an internal order issued by it on Tuesday. The Delhi Metro Rail Corporation (DMRC) has suffered loss of nearly Rs 1,300 crore since the closure of services on March 22 due to the COVID-19 situation, sources said. According to an internal order issued to employees by the DMRC, the step has been taken "in view of the extreme adverse financial condition due to non-operation of metro services". "It has been decided, that the perks and allowances shall be reduced by 50 per cent w.e.f. (with effect from) the month of August 2020, till futher orders," the order says. "Accordingly, starting with the salary for the month of August 2020, perks and allowances shall now be payable at 15.75 per cent of the basic pay."(File Photo: IANS)
