Day: March 27, 2020

U.S. Futures Drop; India Assets Rally on Rate Cut: Markets Wrap

(Bloomberg) — U.S. equity futures dropped after the first three-day rally in American equities since mid-February, while Asian shares advanced as investors take stock of strengthening stimulus efforts across the globe.

India’s bonds and stocks rose along with the rupee after the central bank slashed the benchmark rate by three quarters of a percentage point. S&P 500 futures dropped more than 1% after the index surged more than 6% Thursday. The dollar headed for its biggest weekly retreat since 2009, while Treasuries advanced. Australian stocks fell, while most other regional markets rallied.

The U.S. has now overtaken China for the

RBI Live: Shaktikanta Das allows to pause loan EMIs for 3 months; announces 75 bps emergency repo rate cut

The central bank has been trying to infuse liquidity into the markets in the past few days with repo operations.

Reserve Bank of India Governor, Shaktikanta Das addressing a press conference announced that the Monetary Policy Committee (MPC) met ahead of time and voted for an emergency rate cut of 75 basis point, effectively taking the repo rate to 4.4% from the earlier 5.15%. Das, further added that the MPC refrained from projecting inflation and growth this time as the situation was too volatile. To help India tide over the Coronavirus pandemic, RBI announced comprehensive package, including, measures to expand

COVID-19 relief: Lodha waives rentals for retailers in malls

“Given the situation will affect numerous retailers, we hope that with this waiver, retailers across our developments will be able to focus on rebuilding their business effectively once the lockdown ends,” said a company spokesperson.

The Lodha Group announced on Thursday that it has given a full waiver to its retail partners from paying rents since March 15 until the government permits reopening of retail operations, as the country reels under the impact of Covid-19 outbreak related lockdown.

Adhering to the closing of premises that have large public gatherings, retailers including malls (excluding essential services) are currently in distress as