Follow us on: RNI No. TELENG/2018/76469 @TheDailyPioneer facebook.com/dailypioneer Established 1864 Published From ANALYSIS 7 MONEY 8 SPORTS 12 HYDERABAD DELHI LUCKNOW BETTER TO BE COAL INVESTORS FACE $600 BN FANS OUT AS INDIAN SPORTS BHOPAL RAIPUR CHANDIGARH SAFE THAN SORRY LOSS TO RENEWABLES: REPORT GO BEHIND CLOSED DOORS BHUBANESWAR RANCHI DEHRADUN VIJAYAWADA *LATE CITY VOL. 2 ISSUE 152 HYDERABAD, FRIDAY MARCH 13, 2020; PAGES 12 `3 *Air Surcharge Extra if Applicable OREY… BUJJIGAA REVIVES RAJ TARUN'S NEXT { Page 11 } www.dailypioneer.com MANIC GLOBAL SELLOFF CRASHES MARKETS MAYHEM WIPES OFF RS 11 LAKH-CR INVESTOR WEALTH n RBI may look beyond n This was the biggest drop inflation and start for the benchmarks in `11,000 crore $2 billion easing rates to 65 absolute terms, eclipsing bps by June the previous record (USD 1.548 billion) pulled out by foreign inves- in US Dollars to be one-day fall on tors from India's markets. FPIs withdrew a sold by the RBI in tions, March 9. whopping Rs 33,163 crore (USD 4.46 first tranche as fuelling fears billion) from Indian capital mark- part of the buy-sell of a global eco- ets so far this month as swap to increase nomic recession, coronavirus threatened dollar availability analysts said. to derail the global with banks and In line with the bearish economy. trend in global markets, n Brent ease pressure on Indian stocks opened at crude futures, the the Rupee. With the Covid-19 bomb now significant lower levels as global oil benchmark, fell Global stocks plunge into bear market as investors remained anx- 5.53% to USD 33.81 per barrel. ticking as WHO-endorsed ious about the economic ‘pandemic', and nations placing impact of the coron- n Indian basket of Trump stuns with Europe travel ban avirus outbreak, said crude oil also dropped lobal stocks plunged into a bear market and oil slumped on unprecedented in-bound and out- Narendra Solanki, a sharply by nearly 28 GThursday after U.S. President Donald Trump banned trav- bound travel curbs, the global stock market expert. per cent to USD 34 per el from Europe to stem the coronavirus, threatening more dis- A selloff across sectors barrel, easing forex ruption to the world economy economy is going into a tailspin. along with panic selling in With the pandemic wreaking havoc on the daily life of the broader markets hurt outflow concerns due millions, investors were also disappointed by the lack of Markets across the globe fell like investor sentiment, he to a weak Rupee. broad measures in Trump's plan to fight the pathogen, nine pins, wiping off Rs 11 lakh-cr said. prompting traders to bet on further aggressive easing by Besides a selloff in glob- the Federal Reserve. investor wealth in Dalal Street on al equities, massive plunge "He (Trump) did not announce any new concrete in international oil prices measures such as a large-scale payroll tax cut to buffer Thursday alone. The 30-share and depreciating rupee the economy against the impending coronavirus slow- BSE Sensex plummeted 2,919.26 added to the volatility, down," said Jeffrey Halley, senior market analyst. traders said. points and the broader NSE Nifty Elsewhere in Asia, bourses in Shanghai dro- slumped 868.25 points. As leaders pped 1.52 per cent, Hong take difficult decisions, people Kong 3.66 per cent, Seoul Rupee hits India faces revenue fall as 3.87 per cent and Tokyo have no choice but to remain cracked 4.41 per cent. 17-month low Markets in Europe coronavirus bites economy insulated from one another. crashed up to 6 per cent in at 74.34/$ early trade. PNS n MUMBAI Global markets reeled In overnight trade, the he Indian rupee on ndia faces a sharp decline the revised revenue targets for according to the government. after the World Health Dow fell into a bear mar- TThursday weakened to a Iin government revenues the current fiscal year, and Another senior finance With the BSE Sensex Organisation (WHO) ket and futures pointed 17-month low of 74.34 per and economic growth for at will have to lower next year's ministry official said some of plunging and NSE Nifty termed the coronavirus Thursday to another rout US dollar as global markets least two quarters as the targets as well," said a senior the proposed share-shale nose-diving, the calami- outbreak as a pandemic, in New York and slumped after the World coronavirus hits economic government official with plans in companies like Coal tous crash on Thursday and expressed deep conce- Europe.Investor wealth Health Organisation declared activity and a fall in investor direct knowledge of budget India, Steel Authority of India represented the biggest rn over the "alarming le- worth over Rs 11 lakh coronavirus as a global pan- sentiment impacts privatiza- estimates. Ltd, NMDC and IRCON one-day fall in absolute vels of inaction". crore was wiped off on demic. tion plans, government and He said receipts from a have been deferred. terms as Covid-19 rattled US President Donald Thursday as stocks It has however, somewhat industry sources said. much-delayed privatization The government now global markets. Trump suspended all trav- crashed amid a global recovered from the lows to Officially, the government of India's second-biggest oil expects to raise about 500 bil- All Sensex components el from Europe, excluding equity selloff after the trade around 74.14 per is still sticking to the target refiner, Bharat Petroleum lion rupees against down- ended in the red. SBI was the UK, to the US for the World Health greenback. of achieving 6-6.5% in the Corp , could be lower by at wardly revised target of 650 the top loser, followed by next 30 days to stop the Organization declared the The rupee hit its next financial year begin- least $2 billion against initial billion rupees for the ongoing ONGC, Axis Bank, ITC, spread of the virus. coronavirus outbreak a record low in October, ning April, while hoping estimates. financial year ending in Titan, Bajaj Auto, TCS Countries across the world pandemic. 2018, when it was 74.48. that a fall in crude oil The government suspend- March, the official said. and IndusInd Bank. are imposing travel restric- 3 The concerns of the prices could help it garner ed almost all visas to the Another senior official in coronavirus outbreak more revenue and contain country till April 15 the tax department said severely impairing the a fall in revenue from to prevent the receipts have been hit global economy have off other sectors. spread of due to fall in con- IPL BEHIND CLOSED DOORS? late weighed on the But economists and coronavirus as sumer demand as he Board of Control for Cricket in India (BCCI) is discussing the investor sentiments bankers are turning increas- cases across reflected in the Tpossibility of holding the Indian Premier League (IPL) 2020 across markets. ingly downbeat about India's the region lower sales of behind closed doors as a fallout of the Coronavirus outbreak, a The declaration economic prospects, espe- continue to autos, pas- board official said . The government issued fresh advisory with a ban of the disease as a cially as the government rise.. senger traf- on all existing foreign visas, except a few categories like diplomatic and pandemic late on is betting on filling its Total cases fic, hotel employment, till April 15 in the wake of new positive cases of novel coronavirus in the Wednesday has fur- coffers through ill- in the country bookings, country. ther deepened the concerns. timed asset sales. rose to 73 on and retail "We are going to miss Thursday, sales. Coronavirus to peak in May-June outside China World walls off with worsening viral pandemic PNS n NEW DELHI "This is good news more than 25,000 new The infection spreads rapid- and should allow most cases reported in the ly through a population, reach- PNS n BANGKOK pled areas. Even for a crisis that Wall Street investors but peo- Countries outside China will factories outside the last week, he added. ing a peak and then subsiding has brought no shortage of ple from all walks of life hurt- likely see a peak in coronavirus Hubei province to "Countries' abil- almost equally rapidly once People around the world headlines, dizzying develop- ing. infections in the May-June pe- move back toward ity to contain the there are no new people to became increasingly closed ments were flashing across "We will see more cases and riod before recovering towards normal, seasonal outbreak now infect. off from one another screens: An official desig- things will get worse than they normal by the end of third qua- activity levels by the looks challenging "By locking down areas and Thursday as sweeping nation of "pandemic" are right now," said Dr rter and beginning of fourth beginning of the sec- with the emphasis curtailing socializing, the pool travel bans accelerated, from the World Health Anthony Fauci, director of the quarter (October), a new ond quarter," said Peter shifting to managing of potential virus recipients is walling regions apart as Organisation, a dra- US National Institute of report warned on Thursday. Richardson, Research Dir- the impact as best they reduced, causing the outbreak a viral pandemic matic halt to much Allergy and Infectious The new coronavirus infec- ctor, Counterpoint Research. can," said Richardson. to moderate more quickly," unfolds and financial travel between the US Diseases. tion rate in China is decelerat- In other countries, however, The pattern of infection and said the report.