Pre Market Report, March 12, 2020 | Stocks and Commodities

March 12, 2020
Time: 8 am

Pre Market Report:

1. WHO announced Corona Virus as Pandemic.
2. US markets fell.
3. Trump spoke today morning.
4. Dow future fell another 1000 points.
5. Asian markets are absolutely in panic.
6. SGX Nifty is down by over 500 points.
7. This is the fourth such gap down in last one month.
8. There will be lot of margin calls.
9. Markets will be in absolute panic in the first 30 minutes.
10. So far Govt or RBI has not spoken anything to control the damage of Corona Virus.
11. The only thing RBI can do now is to cut rates by 50 basis points before the market opens today.
12. Even then it will give relief only for few minutes.
13. All markets where rate cut announced fell.
14. Dow entered into bear territory.
15. Today it is likely to fall another 5% taking total fall more than 25%.
16. This will be the worst fall after 2008.
17. We can only hope for best.
18. I am actually hoping RBI will do something before market opens.
19. In fact CNBC reported yesterday that one Govt official reportedly asking RBI to cut rates by 50 basis points.
20. But RBI may argue that it may not help markets to stabilise,they may choose to leave the markets to settle down itself.