Equity benchmark indices slipped by 2.7 per cent during early hours on Tuesday in line with Asian peers after US oil prices slipped below zero dollar a barrel in overnight trade.

US crude futures turned negative for the first time in history following a collapse in oil demand as the coronavirus pandemic derails the global economy.

At 10:15 am, the BSE S&P Sensex was down by 870 points or 2.75 per cent at 30,778 while the Nifty 50 edged lower by 248 points or 2.69 per cent at 9,013.

Except for Nifty pharma and FMCG, all sectoral indices at the National Stock Exchange were in the red with Nifty metal down by 5.2 per cent, auto by 5.1 per cent and private bank by 4.3 per cent.

Among stocks, index heavyweight Reliance Industries fell by 3.93 per cent to Rs 1,195.60 per share. Metal majors Hindalco dropped by 8.9 per cent at Rs 106.10 per share while Tata Steel lost by 7.1 per cent and Vedanta by 6.6 per cent.

Auto major Maruti skidded by 6.8 per cent to Rs 4,964.70 per share and Tata Motors by 5.2 per cent.

Private lenders IndusInd Bank, Axis Bank and ICICI Bank dipped by 6.7 per cent, 6.1 per cent and 5.8 per cent respectively.

However, those which gained were Dr Reddy, Cipla, Nestle India, Hindustan Lever and ITC.

Meanwhile, Asia shares were in the negative zone after an overnight tumble at Wall Street with US crude futures turned negative for the first time in history. However, it bounced back into positive territory this morning.

MSCI's broadest index of Asia Pacific shares outside Japan fell half a per cent. Japan's Nikkei fell by 2.26 per cent while Hong Kong's Hang Seng lost by 2.38 per cent and South Korea's Kospi slipped by 1.67 per cent.

Overnight stateside, the Dow Jones Industrial Average closed 592 points lower at 23,650, the S&P 500 slipped by 1.8 per cent to end its trading day at 2,823 and the Nasdaq Composite pulled back 1 per cent to close at 8,561.

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Share price of Reliance Industries gained 4.43% to Rs 1,574 compared to the previous close of Rs 1,507 on BSE. Reliance Industries stock gained 9.11% in the last four days

Coronavirus news: Fears ran amok that Franklin Templeton closing its six debt mutual fund schemes may trigger outflows from debt mutual funds. However, net outflows were only seen in credit risk and medium duration categories

Malta has enacted rules removing the bias in favor of debt financing by creating a notional interest deduction for equity financing.

Key Indian equity market indices opened flat on Friday following global cues.

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This spotlight report draws upon the OECD report Equity and Quality in Education: Supporting Disadvantaged Students and Schools.

The Dutch school system is one of the best in the OECD, but raising standards will require further reforms to improve early childhood education, motivate students to excel and develop a career structure that attracts more high performers to the teaching profession, according to a new OECD report.

In several OECD countries, ongoing fiscal consolidation might have a negative impact on the static income distribution. However, this conclusion should be treated only as an approximate first step in the analysis.

This study proposes a structured approach to selecting instruments of fiscal consolidation that are consistent with growth, equity and global-rebalancing objectives, which is then illustrated with a particular application.

This paper presents statutory tax rates on several forms of capital income, including dividends, interest on bonds and bank accounts, and capital gains on shares and real property, including integration between the corporate and personal levels. It updates the rates from an earlier tax working paper and extends the analysis to consider the debt-equity bias of the tax system when the personal level of taxation is considered.

Indonesia’s government needs more revenue to fund spending that can boost GDP growth, raise well-being and reduce poverty.

This G20 report looks at the evolution of private institutional investment in infrastructure and examines how the market has developed; analyses various investment vehicles with a snapshot of the growth experienced in the market; categorises methods used for investing in infrastructure; and, highlights the challenges and barriers to investment.

This spotlight report draws upon the OECD report Equity and Quality in Education: Supporting Disadvantaged Students and Schools.

This G20 report looks at the evolution of private institutional investment in infrastructure and examines how the market has developed; analyses various investment vehicles with a snapshot of the growth experienced in the market; categorises methods used for investing in infrastructure; and, highlights the challenges and barriers to investment.

This article on public equity financing for SMEs complements earlier OECD work on market-based finance for SMEs. The development of this market segment could promote investment in SMEs and, together with securitisation and other non-bank debt financing instruments, encourage an enhanced allocation of risk and risk taking, and thus support growth.

The Belgian economy has returned to growth and continues scoring well on broader measures of well-being, but further reforms will be needed to secure fiscal sustainability while promoting employment and competitiveness, according to the latest OECD Economic Survey of Belgium 2015.

In several OECD countries, ongoing fiscal consolidation might have a negative impact on the static income distribution. However, this conclusion should be treated only as an approximate first step in the analysis.

Luxembourg is a rich and fast-growing country. However, inequality of disposable incomes has trended up modestly over the past decades and relative poverty has risen reflecting mainly the rapid growth of high incomes.

This study proposes a structured approach to selecting instruments of fiscal consolidation that are consistent with growth, equity and global-rebalancing objectives, which is then illustrated with a particular application.

The Belgian economy has returned to growth and continues scoring well on broader measures of well-being, but further reforms will be needed to secure fiscal sustainability while promoting employment and competitiveness, according to the latest OECD Economic Survey of Belgium 2015.