• SENSEX
    NIFTY 50
Business

10 things you need to know before the opening bell on April 12

Updated : April 12, 2021 08:00 AM IST

The Indian market is likely to open lower on Monday as the trend on SGX Nifty indicates a negative start for the broader index in India. The Nifty futures were trading 141.50 points or 0.95 percent lower at the 14,730.50 level on the Singaporean Exchange at 7:45 am.

 1. Wall Street  | The S&P 500 and the Dow notched record closing highs on Friday after solid US inflation data and an uptick in Treasury yields suggested the economic recovery from the pandemic-related recession was gaining momentum. The Dow Jones Industrial Average rose 297.03 points, or 0.89 percent, to 33,800.6, the S&P 500 gained 31.63 points, or 0.77 percent, to 4,128.8 and the Nasdaq Composite added 70.88 points, or 0.51 percent, to 13,900.19. (Image: Reuters)
1. Wall Street | The S&P 500 and the Dow notched record closing highs on Friday after solid US inflation data and an uptick in Treasury yields suggested the economic recovery from the pandemic-related recession was gaining momentum. The Dow Jones Industrial Average rose 297.03 points, or 0.89 percent, to 33,800.6, the S&P 500 gained 31.63 points, or 0.77 percent, to 4,128.8 and the Nasdaq Composite added 70.88 points, or 0.51 percent, to 13,900.19. (Image: Reuters)
 2. Asian markets  | Asian shares started cautiously on Monday as investors wait to see if US earnings can justify sky-high valuations, while bond markets could be tested by what should be very strong readings for US inflation and retail sales this week. MSCI’s broadest index of Asia-Pacific shares outside Japan was off 0.05 percent in slow early trade. Tokyo’s Nikkei edged up 0.1 percent, while South Korean stocks rose 0.2 percent. (Image: Reuters)
2. Asian markets | Asian shares started cautiously on Monday as investors wait to see if US earnings can justify sky-high valuations, while bond markets could be tested by what should be very strong readings for US inflation and retail sales this week. MSCI’s broadest index of Asia-Pacific shares outside Japan was off 0.05 percent in slow early trade. Tokyo’s Nikkei edged up 0.1 percent, while South Korean stocks rose 0.2 percent. (Image: Reuters)
 3. Indian market on Friday  | The Indian equity market ended lower on Friday dragged by losses in metals, private banks and auto stocks. The Sensex ended 154.89 points, or 0.31 percent lower at 49,591.32, while the Nifty fell 38.95 points, or 0.26 percent, to close at 14,834.85. Broader markets outperformed the benchmarks as midcap and smallcap indices ended higher. Among sectors, Nifty Pharma rallied the most, over 3 percent, followed by Nifty PSU Banks, Nifty IT and Nifty FMCG, while metal, private bank, financial services and auto indices ended in the red.
3. Indian market on Friday | The Indian equity market ended lower on Friday dragged by losses in metals, private banks and auto stocks. The Sensex ended 154.89 points, or 0.31 percent lower at 49,591.32, while the Nifty fell 38.95 points, or 0.26 percent, to close at 14,834.85. Broader markets outperformed the benchmarks as midcap and smallcap indices ended higher. Among sectors, Nifty Pharma rallied the most, over 3 percent, followed by Nifty PSU Banks, Nifty IT and Nifty FMCG, while metal, private bank, financial services and auto indices ended in the red.
 4. Crude oil  | Oil prices fell around 2 percent last week as production increases and renewed COVID-19 lockdowns in some countries offset optimism about a recovery in fuel demand. Brent was quoted up 33 cents on Monday at $63.28 a barrel, while US crude added 25 cents to $59.57.
4. Crude oil | Oil prices fell around 2 percent last week as production increases and renewed COVID-19 lockdowns in some countries offset optimism about a recovery in fuel demand. Brent was quoted up 33 cents on Monday at $63.28 a barrel, while US crude added 25 cents to $59.57.
 5. Rupee  | The rupee depreciated by another 15 paise against the US dollar to register its fifth loss in a row on Friday, facing headwinds on the economy front due to rising COVID-19 cases. Tumbling to its weakest level since November 4, 2019, the rupee settled at 74.73 against the US dollar. Besides concerns over COVID-19 resurgence, weak domestic equities and strengthening American currency also weighed on investor sentiment. At the interbank forex market, the local unit opened at 74.75 against the greenback and traded in the range of 74.53 to 74.96 during the day.
5. Rupee | The rupee depreciated by another 15 paise against the US dollar to register its fifth loss in a row on Friday, facing headwinds on the economy front due to rising COVID-19 cases. Tumbling to its weakest level since November 4, 2019, the rupee settled at 74.73 against the US dollar. Besides concerns over COVID-19 resurgence, weak domestic equities and strengthening American currency also weighed on investor sentiment. At the interbank forex market, the local unit opened at 74.75 against the greenback and traded in the range of 74.53 to 74.96 during the day.
 6. FDI   | The government may hike foreign direct investment (FDI) limit in the pension sector to 74 percent and a Bill in this regard is expected to come in the next Parliament session, PTI reported quoting sources. Amendment to Pension Fund Regulatory and Development Authority (PFRDA) Act, 2013 seeking to raise FDI limit in the pension sector may come in the monsoon session or winter session depending on various approvals, sources said. Currently, the FDI in the pension fund is capped at 49 percent. Besides, sources said, the amendment Bill may contain separation of NPS Trust from the PFRDA.
6. FDI  | The government may hike foreign direct investment (FDI) limit in the pension sector to 74 percent and a Bill in this regard is expected to come in the next Parliament session, PTI reported quoting sources. Amendment to Pension Fund Regulatory and Development Authority (PFRDA) Act, 2013 seeking to raise FDI limit in the pension sector may come in the monsoon session or winter session depending on various approvals, sources said. Currently, the FDI in the pension fund is capped at 49 percent. Besides, sources said, the amendment Bill may contain separation of NPS Trust from the PFRDA.
 7. Telecom PLI  | The Department of Telecommunications (DoT) is likely to issue guidelines on the implementation of production-linked incentive (PLI) schemes for manufacturers in the sector and start inviting applications for the same in about a week, according to government officials. Telecom gear makers firms such as Ericsson and Nokia are keen to expand their operations in India, and global companies like Samsung, Cisco, Ciena and Foxconn have ”shown interest” to set up manufacturing bases in the country for telecom and networking products for domestic and export markets.
7. Telecom PLI | The Department of Telecommunications (DoT) is likely to issue guidelines on the implementation of production-linked incentive (PLI) schemes for manufacturers in the sector and start inviting applications for the same in about a week, according to government officials. Telecom gear makers firms such as Ericsson and Nokia are keen to expand their operations in India, and global companies like Samsung, Cisco, Ciena and Foxconn have ”shown interest” to set up manufacturing bases in the country for telecom and networking products for domestic and export markets.
 8. FPIs  | Foreign portfolio investors (FPIs) have withdrawn a net Rs 929 crore from Indian markets so far this month amid concerns over rising COVID-19 cases denting the economic recovery. The reversal of buying trend came after FPIs invested Rs 17,304 crore in March, Rs 23,663 crore in February and Rs 14,649 crore in January. According to the depositories data, overseas investors pulled out Rs 740 crore from equities and Rs 189 crore from the debt segment, taking the total net withdrawal between April 1-9 to Rs 929 crore.
8. FPIs | Foreign portfolio investors (FPIs) have withdrawn a net Rs 929 crore from Indian markets so far this month amid concerns over rising COVID-19 cases denting the economic recovery. The reversal of buying trend came after FPIs invested Rs 17,304 crore in March, Rs 23,663 crore in February and Rs 14,649 crore in January. According to the depositories data, overseas investors pulled out Rs 740 crore from equities and Rs 189 crore from the debt segment, taking the total net withdrawal between April 1-9 to Rs 929 crore.
 9. Inflow into gold ETFs climbs over 4-fold to Rs 6,900 crore in FY21  | Heightened risk and uncertainty sparked by the COVID-19 pandemic elicited investors to rush to gold as safe haven as they infused over Rs 6,900 crore in gold exchange-traded funds (ETFs) in 2020-21, more than four times from the preceding fiscal. This also marks the second consecutive year of inflow. According to the Amfi data, investors put in a net sum of Rs 6,919 crore in 14 gold-linked ETFs in FY21, much higher than the Rs 1,614 crore invested in FY20.
9. Inflow into gold ETFs climbs over 4-fold to Rs 6,900 crore in FY21 | Heightened risk and uncertainty sparked by the COVID-19 pandemic elicited investors to rush to gold as safe haven as they infused over Rs 6,900 crore in gold exchange-traded funds (ETFs) in 2020-21, more than four times from the preceding fiscal. This also marks the second consecutive year of inflow. According to the Amfi data, investors put in a net sum of Rs 6,919 crore in 14 gold-linked ETFs in FY21, much higher than the Rs 1,614 crore invested in FY20.
 10. US economy at an 'inflection point': Fed's Powell  | The US economy is at an “inflection point” with expectations that growth and hiring will pick up speed in the months ahead, but also risks if a hasty reopening leads to a continued increase in coronavirus cases, Federal Reserve Chair Jerome Powell said. “There really are risks out there. And the principal one just is that we will reopen too quickly, people will too quickly return to their old practices, and we’ll see another spike in cases,” Powell said in the interview.
10. US economy at an 'inflection point': Fed's Powell | The US economy is at an “inflection point” with expectations that growth and hiring will pick up speed in the months ahead, but also risks if a hasty reopening leads to a continued increase in coronavirus cases, Federal Reserve Chair Jerome Powell said. “There really are risks out there. And the principal one just is that we will reopen too quickly, people will too quickly return to their old practices, and we’ll see another spike in cases,” Powell said in the interview.
Published : April 12, 2021 08:00 AM IST
Live TV

recommended for you

Ask Our Experts CNBC TV18

Advertisement