Day: March 26, 2020

Stock futures lower as coronavirus relief package clears Senate

Stock futures dipped on Wednesday evening, after a massive, eagerly awaited coronavirus relief package cleared the U.S. Senate and headed for the House, with investors poised to take a breather after two consecutive days of gains.

During the regular session Wednesday, the S&P 500 and Dow posted their first back-to-back sessions of advances in more than a month. At the highs of the session, the Dow had added 1,315 points.

Yet by market close Wednesday, stocks pared some gains, after the bill with $2 trillion worth of relief for the coronavirus-stricken economy exposed intra-party divisions. Late in the afternoon, Democratic

Govt monitoring availability of essential commodities in market, says Ram Vilas Paswan

“I appeal to all manufacturers and traders to avoid from profiteering in this situation,” Paswan said in his tweet.

Union Food Minister Ram Vilas Paswan on Wednesday said the government is monitoring the availability of essential commodities in the market amid nationwide lockdown for next 21 days to check the spread of coronavirus outbreak.

Paswan warned manufacturers and traders against profiteering during this period.

The Centre is also in touch with the state governments to ensure that there is no shortage of essential commodities, he said.

“In view of situation emerging from the threat of #Covid19India, the government is keeping

Gross non-performing assets of banks may rise up to 9.6-9.9%: CARE

The data compiled by CARE showed that gross NPAs of banks showed a declining trend from 9.5% in the June quarter to 9.3% in the September as well as December quarters of financial year 2020.

The gross non-performing assets (GNPA) of banks likely to rise up to 9.6-9.9%, compared to 9.3% till the December quarter, given the impact of the Covid-19 outbreak, exposures to certain stressed sectors, moderation in the bank credit growth and muted demand scenario, according to a report by rating agency CARE on NPA movement.

The rating agency has done analysis of 38 banks, which showed the