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10 things you need to know before the opening bell

At 07:10 AM, SGX Nifty, an early indicator of the Nifty 50's trend in India, was down 0.45 percent at 10,552.50, indicating a weak start for the Indian market.

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By CNBC-TV18 December 12, 2018, 7:41:15 AM IST (Updated)

10 things you need to know before the opening bell
The Indian market is set for a positive start after making a smart recovery in the previous session amid the assembly election counting.


Investors took note of the assembly poll outcome. The Congress won in the key states— Rajasthan, Chhattisgarh and Madhya Pradesh, though final numbers were not out yet. TRS won in Telangana and Mizo National Front (MNF) returned to power in Mizoram.

In another important development, the government on Tuesday appointed Shaktikanta Das as the new RBI governor for the next three years, after Urjit Patel abruptly resigned from his post on Monday.

At 07:40 AM, SGX Nifty, an early indicator of the Nifty 50's trend in India, was up 0.06 percent at 10,606.50, indicating a recovery in the Indian market.

Here's what you need to know before the opening bell: 

Global markets: Asian stock markets edged ahead on Wednesday as US President Donald trump sounded upbeat about a trade deal with China, while sterling struggled with talk of an imminent party coup against British Prime Minister Theresa May.

Oil: Oil bounced a little after industry data showed a surprisingly large draw on stockpiles.  US crude rose 50 cents to $52.15 a barrel in Asia. Brent futures had closed 54 cents firmer at $60.51.

Assembly Elections 2018 outcome: The election results, as per the majority, are as follows  — Congress is leading in Madhya Pradesh, while it has won in Rajasthan and  Chhattisgarh. The official results are yet to be declared. TRS won in Telangana and Mizo National Front (MNF) returned to power in Mizoram.

Sebi: Markets regulator Sebi will discuss a slew of measures at its board meeting on Wednesday for expanding its offer for sale framework to more companies, relax its norms for clubbing of investment limits by established foreign investors and tighten insider trading rules, officials said.

New RBI Governor:  The government on Tuesday appointed Shaktikanta Das as the new RBI governor for the next three years, after Urjit Patel abruptly resigned from his post on Monday.

FDIs: The government should consider permitting 100 percent foreign direct investment (FDI) in multi-brand retail trade and further improve ease of doing business for the sector to promote growth in the segment, industry body CII said in a report on Tuesday. These suggestions are part of a national retail policy released by CII.

RBI data: The Reserve Bank of India (RBI) continued to remain net seller of the US dollar in October, as it sold $7.204 billion of the greenback in the spot market, RBI data showed. In the reporting month, the central bank purchased $945 million, while sold $8.149 billion in the spot market, according to the data.

Rupee: The currency closed at 71.85 against the US dollar.

Market close:  Indian market on Tuesday stood tall despite the resignation of Reserve Bank of India (RBI) governor Urjit Patel and the outcome of five state elections coming against the ruling party, BJP. The BSE major Sensex closed 190 points in the green at 35,150 after making a recovery of 724 points from day’s low. The 50-stock Index of Nifty 50 gained 215 points from lows to end the session 61 points higher at 10,549.

(With inputs from agencies)