Tit - bits

Domestic share markets are performing in tune with the firmness in other Asian stock markets after President Donald Trump's announced plans to gradually re-open the US economy. The news offset record slump in China GDP. The broader market was in line with benchmark indices. The S&P BSE Mid-Cap index was up 1.19% while the S&P BSE Small-Cap index was up 1.79%.

Meanwhile, the RBI governor Shaktikanta Das today said India is expected to post a sharp turnaround and resume its pre-COVID pre-slowdown trajectory by growing at 7.4% in 2021-22.

The ET, 17 April, 2020 writes:

RBI announces second tranche of liquidity boost; cuts reverse repo by 25 basis points,basis point reverse repo cut taking it to 3.75 per cent from 4 per cent earlier. The move has been taken to allow banks to lend more.

A TLTRO 2.0 of Rs 50,000 crore specifically targeted at NBFCs has been announced.

These liquidity measures are over and above the Rs.3.74 lakh liquidity boost announced in the last week of March. 

Those included a Targeted Long Term Repo Operations (TLTRO) window of Rs one lakh crore for banks to invest specifically in corporate bonds and commercial papers. It also reduced the repo rate by 75 basis points and the reverse repo by a larger margin of 90 basis points, thereby making it less lucrative for banks to park money with the RBI. 

It also reduced the CRR by 100 basis points, thereby leaving more money in the hands of the banks to lend to customers.

#Buy the shares of state Bank of India Ltd at Rs.188, for targets of Rs.195/196. SL: Rs.181. 

#The scrip of National Fertilisers Ltd is finding difficulty to cross Rs.25/26.30 ranges. The premium members were today suggested to book some profits and hold the rest with a SL of Rs.21.