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This article is more than 3 year old.

10 things you need to know before the opening bell

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Indian shares are set for a positive start on Thursday, taking cues from Asian peers, but gains are likely to modest as oil prices snapped their record losing streak amid strengthening signals that Opec was considering production cuts as soon as next year.

10 things you need to know before the opening bell
The Indian market is set for a positive start on Thursday, taking cues from its Asian peers as a steep slide in crude oil prices which had chilled investor sentiment, slowed. However, stock market gains in Asia were limited after Wall Street extended their recent decline.
At 07.07 AM, SGX Nifty, an early indicator of the Nifty 50's trend in India, was up 0.34 percent to 10,637.50, indicating a positive opening for the Indian market.
Here is what you need to know before the market opens:
Asia: MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.15 percent. The index had declined 0.4 percent the previous day as plunging oil prices heightened anxiety about the outlook for broad demand and global growth. Australian stocks rose 0.15 percent while Japan's Nikkei shed 0.5 percent.
Wall Street: The Dow Jones Industrial Average fell 205.99 points, or 0.81 percent, to 25,080.5, the S&P 500 lost 20.6 points, or 0.76 percent, to 2,701.58 and the Nasdaq Composite dropped 64.48 points, or 0.9 percent, to 7,136.39.
Crude Oil Prices: US crude futures were down 33 cents, or 0.6 percent, at $55.92 a barrel by 0004 GMT. The contract rose 1 percent on Wednesday, after sliding for 12 straight sessions and touching its lowest since November 2017. Brent crude was yet to trade. It settled up 65 cents, or 1 percent, at $66.12 a barrel, after hitting a session-high of $67.63, having also slumped in recent weeks.
Market At Close On Wednesday: Indian equity market ended the Wednesday’s trading session largely in the red as crude oil prices recovered in the second half. The Nifty slipped 75 points from highs to close 6 points in the red at 10,576, while the Sensex was flat, settling at 35,141. The Midcap index too fell 142 points from the day’s high to close flat at 17,484, dragging market breadth in favour of declines with the Nifty advance-decline ratio at 3:4.
Rupee: The rupee closed at 72.31, up 36 paise against the dollar from its previous close on Wednesday.
Dollar: The dollar index against a basket of six major currencies was 0.1 percent lower at 97.213, nudged down by the firmer pound and euro. The pound and euro kept gains made after British Prime Minister May's cabinet gave backing on her Brexit deal. The pound was a shade higher at $1.12987 after peaking at $1.3072 on Wednesday, when it tacked on 0.1 percent. The euro was little changed at $1.1311 having advanced 0.2 percent overnight.
FII & DII data: Foreign institutional investors (FIIs) bought shares worth Rs 277 crore, while domestic institutional investors (DIIs) sold shares worth Rs 272 crore in the Indian equity market on November 14.
Make In Odisha Conclave: The Odisha government is confident of implementing 75 percent of its Rs 4.19 lakh crore worth of investment at 'Make in Odisha' Conclave 2018. Tata Sons chairman, N Chandrasekaran, announced an additional Rs 25,000 crore investment in Tata Steel’s Kalinganagar plant, while Reliance Industries Ltd chairman, Mukesh Ambani, said Reliance Jio would add another Rs 3,000 crore to the company’s existing Rs 6,000 crore investment in the region.
CLSA on General Elections 2019: Next year the country will finally see evidence of the long-awaited capital spending cycle and the government led by Prime Minister Narendra Modi is likely to be re-elected in the 2019 general election, said Christopher Wood, Global Equity Strategist at CLSA. The biggest risks for India right now are external that is further appreciation in oil and the dollar, he said, adding that there was some relief from oil but this correction is attributed to the U-turn from the US on the Iranian oil issue.
RBI vs Centre: The government and Reserve Bank seem to be veering around to reach an agreeable solution particulary with respect of relaxation of the Prompt Corrective Action (PCA) framework and easing of lending norms for the MSME sector ahead of the RBI board meeting on November 19, sources said. If not in this board meeting, sources said, the issue of relaxation of PCA framework which the finance ministry has been pitching for would be reached in the next few weeks.
 
(With inputs from agencies)
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