Stocks tumbled in Asia early Friday following the worst Wall Street session since 1987, with investors spooked that emergency fiscal and monetary packages won’t be enough to stave off a recession.
Japanese equities plunged 6 percent and Korean stocks sank 7 percent, triggering a trading halt Futures on the S&P 500 dipped.
U.S. equities tumbled 8 %, extending losses after a 15-minute NYSE-mandated halt.
European stocks collapsed 10 % in the biggest rout since 2008.
Oil is on track for its biggest weekly decline since 2008 as the coronavirus pandemic wreaks havoc on fuel demand and threatens global economic stability.
🎯 News & Impact 🎯
🎯 Yesbank : SBI approved an investment of Rs 7,250 crore in Yes Bank Ltd.Its stake in Yes Bank will remain under 49 percent of the paid up capital of the bank.
🎯 Wipro : Company to co-develop solutions with SAP for retail and fashion industry.
🎯 IIFL Finance : Company received NBFC license from RBI on March 11. Merger of its NBFC arm India Infoline Finance with the company will be effective by March 31.
🎯 KPI Global Infrastructure : Company signed a power purchase agreement with Songwon Speciality Chemicals for sale of 1 million-watt solar power for a period of 15 years.
🎯 Astra Zeneca Pharma : Company received import and market permission from Drugs Controller General of India for Calquence drug, used for the treatment of leukaemia.
🎯 Indian Hotels : Promoter Tata Sons acquired 1.66 crore shares (1.39 %) at Rs 107.4 per share. Positive for the stock. 👍
🎯 Tata Motors DVR : Promoter Tata Sons acquired 1.85 crore shares (3.64 %) at Rs 43.15 per DVR share. Positive for the stock. 👍
🎯 Tata Power : Promoter Tata Sons acquired 1.39 crore shares (0.51 %) at Rs 38.72 per share. Positive for the stock. 👍
🎯 Tata Steel : Promoter Tata Sons acquired 77.4 lakh shares (0.69 %) at Rs 287.44 per share.Positive for the stock. 👍
🎯 Sun Pharma : Company promoter Raksha Valia released pledge of 4.5 lakh shares on March 11.
🎯 JSW Steel : Company promoter JSW Techno Projects created pledge of 1 crore shares from March 5-6. Negative for the stock.
🎯 Max Financial Services : Company promoter Max Ventures Investment revoked pledge of 19 lakh shares on March 9. Positive for the stock. 👍
🎯 JSW Energy : Company promoters created pledge of 3.24 crore shares from March 5-11. Negative for the stock.
🎯 Max India : Company promoter Max Ventures Investment revoked pledge of 28.54 lakh shares on March 9. Positive for the stock. 👍
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Edited by Sharp.
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