The Indian market is set for a positive start on Monday, taking cues from its Asian peers. However, market sentiments may remain mixed as government may move to establish regulations in the Reserve Bank of India's functioning at today's meeting.
At 07.01 AM, SGX Nifty, an early indicator of the Nifty 50's trend in India, was up 0.54 percent to 10,756, 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 tacked on 0.1 percent and South Korea 0.5 percent. Japan's Nikkei gained 0.4 percent, but E-Mini futures for the S&P 500 slipped 0.3 percent. Wall Street: On Friday, the Dow Jones Industrial Average rose 123.95 points, or 0.49 percent, to 25,413.22, the S&P 500 gained 5.94 points, or 0.22 percent, to 2,736.14 and the Nasdaq Composite dropped 11.16 points, or 0.15 percent, to 7,247.87. Crude Oil Prices: Oil prices suffered their sixth straight week of losses last week, but have found some aid from expectations the Organization of the Petroleum Exporting Countries would cut output. Front-month Brent crude oil futures, the international benchmark for oil prices, were trading at $67.29 per barrel at 0045 GMT, up 53 cents, or 0.8 percent, from their last close. US West Texas Intermediate (WTI) crude futures, were up 61 cents, or 1.1 percent, at $57.07 per barrel. Market At Close On Friday: Barring midcap index, the Indian equity market on Friday closed the last trading session of the week higher. The large cap index Nifty 50 that saw all sectoral constituents posting gains in trade, advanced 66 points to close at 10,682, while the Sensex gained 197 points to settle at 35,457. Financials, Oil & Gas, telecom together contributed 54 points in the Nify’s 66 points gain. Rupee: The rupee closed at 71.92, up 6 paise against the dollar from its previous close on Friday. Dollar: The dollar followed to reach 96.438 against a basket of currencies, down from a peak of 97.693. The euro was up at $1.1414, while the dollar backed off to 112.77 yen. Sterling remained vulnerable at $1.2833 after political turmoil over Brexit caused steep losses last week. FII & DII data: Foreign institutional investors (FIIs) bought shares worth Rs 845 crore, while domestic institutional investors (DIIs) sold shares worth Rs 372 crore in the Indian equity market on November 16. RBI Board Meeting: Amid ongoing tussle between the government and the Reserve Bank of India (RBI), the centre may move to establish the authority of the latter's board through new regulations, said people familiar with the matter. CIC on Disclosing Raghuram Rajan's Letter: Severely admonishing the RBI and the PMO, the Central Information Commission has again directed them to disclose the list of wilful defaulters and Raghuram Rajan's letter on bad loans. In an exhaustive 66-page order, the panel pulled up the Prime Minister's Office for not complying with its directive to disclose the letter from former RBI Governor Rajan on bad loans. Shuffle in Fin Min: UIDAI CEO Ajay Bhushan Pandey will be the new finance secretary, replacing Hasmukh Adhia -- the Gujarat-cadre IAS officer who is set to retire on November 30. The committee also announced that Girish Chandra Murmu, the 1985-batch Gujarat-cadre IAS officer who is presently special secretary at revenue department, would replace expenditure secretary Ajay Narayan Jha when he retires on January 31 next year. (With inputs from agencies)
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