1 / 101. Asia: Stocks in Asia Pacific traded higher Tuesday morning after an overnight rally stateside that saw the S&P 500 erasing its losses and entering positive territory for the year. Shares in Australia, which returned to trade following a Monday holiday, led gains in the region’s major markets as the S&P/ASX 200 soared 3.17 percent.South Korea’s Kospi also gained 1.2 percent. In Japan, the Nikkei 225 hovered around the flatline while the Topix index added 0.11 percent. Overall, the MSCI Asia ex-Japan index traded 0.91 percent higher. (Image:AP)
2 / 102. US: Futures contracts tied to the major U.S. stock indexes held steady during the overnight session Monday evening as investors hoped to extend the S&P 500′s gains after the index returned to positive territory for the year during the regular session. Dow Jones Industrial Average futures rose 29 points, suggesting a flat open when regular trading resumes on Tuesday. S&P 500 futures pointed to an opening slip of 0.2 percent while Nasdaq-100 futures indicated a similar move. (Image: Reuters)
3 / 103. Market At Close On Monday: The Indian market ended higher on Monday continuing the previous week's streak of gains. However, the market remained in a volatile trade swinging between gains and losses. At close, Sensex ended 83 points higher at 34,370.58 while Nifty50 ended 25 points higher at 10,167.45. (Image: Reuters)
4 / 104. Crude Oil: Oil fell more than 3 percent on Monday after Saudi Arabia said an extension of output cuts by OPEC+ nations would not include additional voluntary reductions by a trio of Gulf producers. After rising for seven consecutive session, Brent oil futures fell $1.30, or 3.1 percent, to $41.00 a barrel. West Texas Intermediate crude, meanwhile, fell $1.36, or 3.44 percent, to settle at $38.19 per barrel. Both benchmarks rose to their highest since March earlier in the session with WTI topping $40 a barrel. (Image: Reuters)
5 / 105. Rupee Close: Indian rupee ended marginally higher at 75.54 on June 8 amid volatile trade seen in the domestic equity market. It opened flat at 75.59 per dollar against Friday's close of 75.58. Forex traders said positive domestic equities, sustained foreign fund flows and the revival of business activity are supporting the rupee, but dollar demand and rising crude oil prices are weighing on the domestic unit. (Image: Reuters)
6 / 106. RBI Proposes Framework For Sale Of Loan Exposures: The Reserve Bank on Monday proposed a comprehensive framework for sale of loan exposures, which could be standard, sub-standard or non-performing assets (NPAs), as part of the overall exercise to deepen the market for lending. Loan sales may be resorted to by lenders for any reasons ranging from strategic sales to rebalance their exposures or as a means to achieve resolution of stressed assets by extinguishing the exposures. Presently, the guidelines for sale of loan exposures, both standard as well as stressed exposures, are spread across various circulars of the RBI. (Image: Reuters)
7 / 107. India Cannot Afford Negative Growth, Says Sajjan Jindal: With COVID-19 led economic fall out across the globe, Sajjan Jindal, Chairman of JSW in an exclusive conversation with CNBC-TV18 said that India’s GDP in FY21 will contract by 5 percent as against economists estimates of 5-10 percent. The government should also focus on bringing down interest rates for both consumers and corporates and expedite the disinvestment process. He also emphasised that the government needs to focus on reducing interest rates for both consumers and corporates to push growth in India. (Stock Image)
8 / 108. Customs Department To Roll Out Pan-India Faceless Assessment By December 31: The customs department will roll out pan-India faceless assessment by December 31 in a phased manner, starting with Chennai and Bengaluru beginning Monday, the CBIC has said. In a circular, the Central Board of Indirect Taxes and Customs (CBIC) said since faceless assessment (commonly known as anonymised or virtual assessment) is a complete departure from the existing manner of customs assessment, it is being introduced in a phased manner to give trade and stakeholders time to adapt to the changed scenario without disruption of work. Thus the board has decided to begin faceless assessment in phases beginning with customs stations which already have the experience of the pilot programmes, it said. (Image: Reuters)
9 / 109. World Bank Says Global Economy To Plunge Into Worst Recession: The global economy, which has plunged into a severe contraction, will shrink by 5.2 per cent this year due to the massive shock of the coronavirus pandemic and the shutdown measures to contain it, the World Bank said on Monday. The COVID-19 recession is the first since 1870 to be triggered solely by a pandemic, World Bank President David Malpass said in his foreword to the latest edition of the Global Economic Prospect report released on Monday. "The speed and depth with which it has struck, suggests the possibility of a sluggish recovery that may require policymakers to consider additional interventions," he said. (Image: Reuters)
10 / 1010. Fiscal Stimulus Not Enough To Support Economy, Says S&P Global: S&P Global Ratings on Monday said Indian economy will shrink 5 per cent in the current fiscal, saying the fiscal stimulus worth 1.2 per cent of GDP will not be enough to provide significant growth support. In a report on emerging markets titled 'Financial Conditions Reflect Optimism, Lockdown Fatigue Emerges', S&P said the services sectors, which are large employers, have been severely affected, leading to widespread job losses. "Migrant workers have been geographically displaced, and we expect it will take some time to unwind this process. There will be supply chain disruptions over the transition period," S&P said. (Image: Reuters)
