Santsoh Meena, Senior Analyst, TradingBells:

FM made some announcements regarding relaxation on compliance-related issues which will be beneficial for public as well as for the companies but it won’t have any meaningful impact on the market while announcement regarding any economic package will have a significant impact on the market and FM has tweeted that economic package will be announced soon.

The ultimate trigger for the bulls will be any positive news in front of Coronavirus. It is difficult to say about the exact bottom with high confidence amid such uncertain environment but I think the market has discounted almost worst-case scenario and we are probably near to the bottom.

Global markets are showing some signs of strength where if the exponential curve of coronavirus cases flattens out amid lockdown in India as well as around the world then we can expect a smart recovery in the market in the coming days.