INSUBCONTINENT EXCLUSIVE:
The United Nations said the global economy could shrink by up to 1 per cent in 2020 due to coronavirusThe markets are likely to open weak,
continuing from where they left on Thursday, going by early trends on the Singapore Nifty futures
The Nifty futures were trading at 8227, lower by 46 points, on the Singaporean Exchange around 07:30 hours
overnight gains after crude prices notched their biggest one-day surge on record, helping offset concerns about the depth of a global
recession.Nikkei futures edged slightly higher and Australia's benchmark was up 1.5 per cent in early trade
Hong Kong futures were negative
A gauge of stocks across the globe advanced 1.24 per ccent overnight, adding to modest gains earlier in Europe.US stocks rallied on Thursday
as hopes for a truce in the price war between Saudi Arabia and Russia and a cut in oil output drove gains, taking some sting out of a
shocking jump in Americans filing jobless claims due to coronavirus-led lockdowns
The Dow Jones rose 469.93 points, or 2.24 per cent, to 21,413.44, the S-P 500 gained 56.4 points, or 2.28 per cent, to 2,526.9 and Nasdaq
Composite added 126.73 points, or 1.72 per cent, to 7,487.31.The number of Americans filing claims for unemployment benefits shot to a
record high for a second week in a row - topping 6 million - as more states enforced stay-at-home measures to curb the coronavirus
pandemicMeanwhile, the United Nations said the global economy could shrink by up to 1 per cent in 2020 due to the coronavirus pandemic, a
reversal from the previous forecast of 2.5 per cent growth, warning that it may contract even further if restrictions on the economic
activities are extended without adequate fiscal responses.The Sensex had tumbled 1,203 points or 4 per cent to close at 28,265 and NSE Nifty
50 index had dropped 344 points or 4 per cent to end at 8254
The markets were shut on Thursday due to Ram Navami festival.
