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  Sensex gains over 1,200 points, Nifty at 8,650; ONGC, Wipro, Hindalco up 6%

Sensex cracks 3,500 pts, Nifty below 7,800; bank, auto stocks worst hit
March, 23rd 2020

SS&P cuts India GDP growth forecast for FY21 to 5.2 S&P Global Ratings on Monday cut its estimate for India's GDP growth in the fiscal starting April 1 to 5.2 percent from its earlier estimate of 6.5 percent, as it saw the outbreak of coronavirus costing economies around the globe. It put "the total and permanent income loss for Asia-Pacific from COVID-19 at approximately USD 620 billion." "This loss will be distributed across sovereign, bank, corporate and household balance sheets," it said but did not give country-wise break up its estimated loss.

SEBI extends issuance date for debt securities by 60 days till May 31. It has also extended filing of large corporate initial and annual disclosure till June 30.

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