- We just got a little hope on Friday that we might have somewhat near the bottom. But today, SGX is showing that the game is not over yet. 8000 mostly looked like the bottom but today even that will be broken.
- Now India is in a lockdown mode. India has locked down 75 districts all over India.
- SEBI has now increased the margins for shorts so that the falling of the market can be slightly avoided. But SGX doesn't seem to care.
- Italy's death toll has now crossed 5000 and India's toll is in single digit.
- There was a pretty successful Janata curfew but in the evening people formed groups to celebrate which was not the intention of the social distancing.
- The US Senate did not approve the stimulus for the Carona. The Democrats have blocked the bill. Today evening (US evening), Trump is going to hold a press conference. That's what he told in his twitter handle. Let's see what he has to offer.
- Private labs can now do covid testing in India. Price is capped to Rs 4500.
- Obviously, you shut the country and allow the stock market to operate then it is obvious that stock market will fall. Again, closing the market is also dangerous as you never know what will happen when markets open. We know what happened with the Philippines market after they closed the market. I do not know what is the solution for this.
- RBI will be buying bonds worth 30000cr by this month-end.
INTERNATIONAL MARKET
- Today all the Asian markets are down. Korea 6%, Philippines 5%
- Dow future is down another 5%
- SGX shows that we will have a lower circuit.
CRUDE AND $
- Crude is now at $26. Crude is falling.
- $ is now above Rs 75
FII AND DII
- Even on a green day, the FII have sold and they have sold for 3345cr and DII have bought for 2431cr.
- FII are not going to stop here. They will short more from here. So never even think of catching the bottom.
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