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10 things to know before the opening bell on November 29

Updated : 2019-11-29 07:55:14

Indian shares are expected to open flat-to-negative on Friday as SGX Nifty, an indicator of the opening for the Nifty, was trading 5 points lower at 12,181, at 7:01 am, hinting at a flat or slightly lower start for the domestic market. The Q2 GDP growth numbers will be announced today. As per the CNBC-TV18 poll, it is projected that Q2 GDP growth will come in at 4.64 percent, down from 5 percent in the Q1FY20 and 7 percent from the same quarter a year ago.

1. Asia: Stocks in Asia were mixed in Friday morning trade as investors continue to watch for developments on U.S.-China trade following a recent escalation in tensions over Hong Kong. Japan’s Nikkei 225 rose 0.24% in early trade, the Topix also advanced 0.11 percent.<br />South Korea’s Kospi, on the other hand, slipped 0.1 percent. Meanwhile, shares in Australia edged higher in morning trade, with the S&P/ASX 200 up around 0.3 percent.<br />Overall, the MSCI Asia ex-Japan index traded 0.07 percent higher. (Image: AP)
1. Asia: Stocks in Asia were mixed in Friday morning trade as investors continue to watch for developments on U.S.-China trade following a recent escalation in tensions over Hong Kong. Japan’s Nikkei 225 rose 0.24% in early trade, the Topix also advanced 0.11 percent.
South Korea’s Kospi, on the other hand, slipped 0.1 percent. Meanwhile, shares in Australia edged higher in morning trade, with the S&P/ASX 200 up around 0.3 percent.
Overall, the MSCI Asia ex-Japan index traded 0.07 percent higher. (Image: AP)
2. US: Markets in the US on Thursday were closed on account of Thanksgiving Day. However, on Wednesday, the S&P 500 climbed 0.4 percent to 3153.64 while the Nasdaq Composite advanced 0.7 percent to 8705.18. The Dow Jones Industrial Average gained 42.32 points, or 0.2 percent, to 28,164. The averages posted fresh intraday records and notched their fourth straight day of gains. (Image: AP)
2. US: Markets in the US on Thursday were closed on account of Thanksgiving Day. However, on Wednesday, the S&P 500 climbed 0.4 percent to 3153.64 while the Nasdaq Composite advanced 0.7 percent to 8705.18. The Dow Jones Industrial Average gained 42.32 points, or 0.2 percent, to 28,164. The averages posted fresh intraday records and notched their fourth straight day of gains. (Image: AP)
3. Markets At Close On Thursday: Indian shares ended at record closing high for the second straight session on Thursday ahead of November futures and options expiry, as investors awaited gross domestic product (GDP) data due on Friday. Gains in index heavyweight Reliance Industries and banks boosted the indices. The Sensex rose 109 points to close at 41,130, while Nifty settled 50 points higher at 12,151. Both indices ended at a record close yesterday as well. Meanwhile, the foreign institutional investors bought Rs 1,009 crore in the cash market while the domestic institutional investors sold Rs 155 crore. (Image: Reuters)
3. Markets At Close On Thursday: Indian shares ended at record closing high for the second straight session on Thursday ahead of November futures and options expiry, as investors awaited gross domestic product (GDP) data due on Friday. Gains in index heavyweight Reliance Industries and banks boosted the indices. The Sensex rose 109 points to close at 41,130, while Nifty settled 50 points higher at 12,151. Both indices ended at a record close yesterday as well. Meanwhile, the foreign institutional investors bought Rs 1,009 crore in the cash market while the domestic institutional investors sold Rs 155 crore. (Image: Reuters)
4. Currency: The rupee dropped by 27 paise to close at 71.62 against the US currency on Thursday, ending its two-day winning run due to month-end dollar demand from oil importers and growth concerns ahead of the release of GDP data on Friday. Fresh trade concerns after China said it was ready to take firm counter-measures against the US which passed a law supporting Hong Kong protestors also weighed on the domestic currency. Foreign fund inflows, weak crude prices, and losses in the dollar against global currencies capped the rupee losses. (Image: Reuters)
4. Currency: The rupee dropped by 27 paise to close at 71.62 against the US currency on Thursday, ending its two-day winning run due to month-end dollar demand from oil importers and growth concerns ahead of the release of GDP data on Friday. Fresh trade concerns after China said it was ready to take firm counter-measures against the US which passed a law supporting Hong Kong protestors also weighed on the domestic currency. Foreign fund inflows, weak crude prices, and losses in the dollar against global currencies capped the rupee losses. (Image: Reuters)
5. Crude Oil: Oil prices fell for a second consecutive day on Thursday after U.S. President Donald Trump signed into law a bill backing protesters in Hong Kong, fuelling tensions with China. Brent crude was down 64 cents, or 1 percent, at $63.42 a barrel by 1609 GMT.<br />West Texas Intermediate crude fell 31 cents, or 0.5 percent, to $57.80, with many U.S. traders away for the Thanksgiving holiday. (Image: Reuters)
5. Crude Oil: Oil prices fell for a second consecutive day on Thursday after U.S. President Donald Trump signed into law a bill backing protesters in Hong Kong, fuelling tensions with China. Brent crude was down 64 cents, or 1 percent, at $63.42 a barrel by 1609 GMT.
West Texas Intermediate crude fell 31 cents, or 0.5 percent, to $57.80, with many U.S. traders away for the Thanksgiving holiday. (Image: Reuters)
6. Bain Capital To Invest In India: Bain Capital, the US-based private equity investor, is looking to invest around $1 billion in the country in the next three years, reported Livemint. The development reveals the investor's confidence in the Indian economy despite the ongoing slowdown. Bain’s focus on India will be on writing a few large cheques in the range of $500 million to $1 billion. (Image: Reuters)
6. Bain Capital To Invest In India: Bain Capital, the US-based private equity investor, is looking to invest around $1 billion in the country in the next three years, reported Livemint. The development reveals the investor's confidence in the Indian economy despite the ongoing slowdown. Bain’s focus on India will be on writing a few large cheques in the range of $500 million to $1 billion. (Image: Reuters)
7. Government To Consider New Base Year For GDP Calculation: The shift to a new base year for calculating India’s national accounts is likely to be delayed as a committee of experts has recommended 2020-21 as the new base year, instead of the earlier recommendation of adopting 2017-18 as the base year. MoSPI or the Ministry of Statistics and Programme Implementation informed the parliament on Thursday, “The issue of the base year revision was discussed by ACNAS again in its recent meeting held on 30 October 2019 and it was recommended to the Ministry to consider 2020-21 as the next base year of National Accounts in view of the structural reforms in the economy.” (Stock Image)
7. Government To Consider New Base Year For GDP Calculation: The shift to a new base year for calculating India’s national accounts is likely to be delayed as a committee of experts has recommended 2020-21 as the new base year, instead of the earlier recommendation of adopting 2017-18 as the base year. MoSPI or the Ministry of Statistics and Programme Implementation informed the parliament on Thursday, “The issue of the base year revision was discussed by ACNAS again in its recent meeting held on 30 October 2019 and it was recommended to the Ministry to consider 2020-21 as the next base year of National Accounts in view of the structural reforms in the economy.” (Stock Image)
8. SEBI On Overnight Funds: Markets regulator Sebi on Thursday allowed clearing corporations to make investments in overnight funds. Overnight funds are open-ended debt mutual fund schemes that invest in securities with a maturity of one day. However, the combined investments made by clearing corporations in liquid funds and overnight funds should not exceed a limit of 10 percent of the total investible resources held by them, the Securities and Exchange Board of India (Sebi) said in a circular. (Image: Reuters)
8. SEBI On Overnight Funds: Markets regulator Sebi on Thursday allowed clearing corporations to make investments in overnight funds. Overnight funds are open-ended debt mutual fund schemes that invest in securities with a maturity of one day. However, the combined investments made by clearing corporations in liquid funds and overnight funds should not exceed a limit of 10 percent of the total investible resources held by them, the Securities and Exchange Board of India (Sebi) said in a circular. (Image: Reuters)
9. Nitin Gadkari On Highways Investment: Private investment to the tune of Rs 98,100 crore was roped in for construction of highways during the last five years, Parliament was informed on Thursday. To encourage private sector participation through adequate incentives, the Ministry of Road Transport and Highways has adopted Hybrid Annuity Model (HAM) with an objective to maximize the quantum of implementation of highway projects within available financial resources of the government.
9. Nitin Gadkari On Highways Investment: Private investment to the tune of Rs 98,100 crore was roped in for construction of highways during the last five years, Parliament was informed on Thursday. To encourage private sector participation through adequate incentives, the Ministry of Road Transport and Highways has adopted Hybrid Annuity Model (HAM) with an objective to maximize the quantum of implementation of highway projects within available financial resources of the government. "Share of private investment in total road construction during the last five years is about Rs 98,100 crore," Road Transport and Highways Minister Nitin Gadkari told Lok Sabha in a written reply. (Image: Reuters)
10. Exporters Amendments In MAI Scheme: Exporters are seeking amendments in the Market Access Initiative (MAI) scheme with a view to promote shipments from the country, an official said. Under the scheme, agencies such as export promotion councils, trade promotion organizations, and commodity boards get financial support from the government for undertaking various market access initiatives such as marketing, organizing fairs/exhibition, opening of warehouses, capacity building, branding and statutory compliances in importing markets. The issue was raised by many exporters in a meeting called by the commerce ministry last month.
10. Exporters Amendments In MAI Scheme: Exporters are seeking amendments in the Market Access Initiative (MAI) scheme with a view to promote shipments from the country, an official said. Under the scheme, agencies such as export promotion councils, trade promotion organizations, and commodity boards get financial support from the government for undertaking various market access initiatives such as marketing, organizing fairs/exhibition, opening of warehouses, capacity building, branding and statutory compliances in importing markets. The issue was raised by many exporters in a meeting called by the commerce ministry last month. "They mentioned about the need for amendments in MAI scheme. They want assistance to buyers from both developed and developing countries," the official said. (Image: Reuters)
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