The Indian market is set for a negative opening on Tuesday, following its Asian peers which suffered extended overnight losses on Wall Street as technology stocks slumped. Investor sentiments may also remain mixed post the RBI board meeting that concluded on Monday evening.
At 07.00 AM, SGX Nifty, an early indicator of the Nifty 50's trend in India, was down 0.36 percent to 10,743, indicating a negative 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 dropped 0.3 percent. Australian stocks lost 0.7 percent and tech-heavy South Korean shares dropped 0.9 percent. Japan’s Nikkei was down 1 percent.
Wall Street: The Dow Jones Industrial Average fell 395.78 points, or 1.56 percent, to 25,017.44, the S&P 500 lost 45.54 points, or 1.66 percent, to 2,690.73 and the Nasdaq Composite dropped 219.40 points, or 3.03 percent, to 7,028.48.
Crude Oil Prices: US West Texas Intermediate (WTI) crude futures , were at $57.32 per barrel at 0048 GMT, up 12 cents, or 0.2 percent from their last settlement. Front-month Brent crude oil futures were yet to trade.
Market At Close On Monday: Indian equity market closed near the day’s high on Monday with the NSE major Nifty breaking above the 200-day moving average of 10,750 to close with a gain of 81 points at 10,763. The second half of trading session led by FMCG, oil & gas, and financials helped Sensex move 318 points higher to 35,775. Broader markets relatively underperformed in comparison to the benchmarks, but closed in the green.
Rupee: The rupee closed at 71.64, up 28 paise against the dollar from its previous close on Monday.
Dollar: The dollar index against a basket of six major currencies hovered near 96.120, an 11-day low plumbed on Monday. The euro was little changed at $1.1455 after gaining 0.35 percent overnight. The dollar slipped to a three-week low of 112.40 yen and last traded at 112.48.
FII & DII data: Foreign institutional investors (FIIs) bought shares worth Rs 1,103 crore, while domestic institutional investors (DIIs) sold shares worth Rs 310 crore in the Indian equity market on November 19.
RBI Board Meeting: The board of Reserve Bank of India (RBI) on Monday decided to constitute an expert committee to examine the Economic Capital Framework (ECF), the membership and terms of reference of which will be jointly determined by the government of India and the central bank. With regard to banks under Prompt Corrective Action (PCA), it was decided that the matter will be examined by the Board for Financial Supervision (BFS) of RBI, the bank said.
CAG Report on Demonetisation: Two years after the launch of demonetisation, the national auditor is likely to table a report that analyses the impact of the move in the budget session of parliament. The auditor has sought the impact on expenditure made by the government to provide relief during demonetisation; GDP estimation and contraction/expansion of union government spending; suspicious banking transactions post demonetisation; voluntary income disclosure scheme (VDIS) 2016 and Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS) 2016, said the officials.
Trai Meeting: Trai is expected to meet telecom industry players next month, to deliberate on the issues that will be taken up during 2019, its Chairman RS Sharma said on Monday. The discussion - now an annual feature - is however expected to entail a wider set of players in the telecom space this time, spanning operators, infrastructure providers and others.
(With inputs from agencies)
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