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10 things you need to know before the opening bell on December 24

Updated : December 24, 2020 08:18 AM IST

The Indian market is likely to open higher on Thursday following a positive trend in Asian peers. At 8:00 am, the SGX Nifty was trading 34.00 points or 0.25 percent higher at 13,652.50, indicating a positive start for the Sensex and Nifty50.

 1. US stocks  | The S&P 500 closed barely in positive territory on Wednesday as an expected stimulus deal and falling jobless claims prompted investors to put their money into sectors most likely to benefit from the economy re-opening when it recovers from the global health crisis. While the blue-chip Dow and small caps led the gains, the tech-heavy Nasdaq ended the session lower. The Dow Jones Industrial Average rose 114.32 points, or 0.38 percent, to 30,129.83, the S&P 500 gained 2.75 points, or 0.07 percent, to 3,690.01 and the Nasdaq Composite dropped 36.80 points, or 0.29 percent, to 12,771.11. (Image: Reuters)
1. US stocks | The S&P 500 closed barely in positive territory on Wednesday as an expected stimulus deal and falling jobless claims prompted investors to put their money into sectors most likely to benefit from the economy re-opening when it recovers from the global health crisis. While the blue-chip Dow and small caps led the gains, the tech-heavy Nasdaq ended the session lower. The Dow Jones Industrial Average rose 114.32 points, or 0.38 percent, to 30,129.83, the S&P 500 gained 2.75 points, or 0.07 percent, to 3,690.01 and the Nasdaq Composite dropped 36.80 points, or 0.29 percent, to 12,771.11. (Image: Reuters)
 2. Asian stocks  | Asian shares rose on Thursday ahead of the Christmas break, as global investors cheered a potential Brexit deal and economic recovery prospects, largely ignoring US President Donald Trump’s threat to veto a long-awaited COVID aid package. In Japan, the Nikkei 225 gained 0.87 percent while the Topix index advanced 0.96 percent. South Korea’s Kospi also rose 0.76 percent. Meanwhile, shares in Australia climbed, with the S&P/ASX 200 up 0.55 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.22 percent higher.
2. Asian stocks | Asian shares rose on Thursday ahead of the Christmas break, as global investors cheered a potential Brexit deal and economic recovery prospects, largely ignoring US President Donald Trump’s threat to veto a long-awaited COVID aid package. In Japan, the Nikkei 225 gained 0.87 percent while the Topix index advanced 0.96 percent. South Korea’s Kospi also rose 0.76 percent. Meanwhile, shares in Australia climbed, with the S&P/ASX 200 up 0.55 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.22 percent higher.
 3. Indian market  | Indian indices ended higher on Wednesday after a rally in IT stocks overshadowed weak global investor sentiment stemming from the rapid spread of a new strain of the coronavirus in the UK. Gains in FMCG, pharma and auto sectors also lifted the domestic sentiment. The Sensex ended 437 points higher at 46,444 while the Nifty rose 135 points to settle at 13,601. However, the broader market outperformed benchmarks with the midcap and smallcap indices up 2-3 percent each.
3. Indian market | Indian indices ended higher on Wednesday after a rally in IT stocks overshadowed weak global investor sentiment stemming from the rapid spread of a new strain of the coronavirus in the UK. Gains in FMCG, pharma and auto sectors also lifted the domestic sentiment. The Sensex ended 437 points higher at 46,444 while the Nifty rose 135 points to settle at 13,601. However, the broader market outperformed benchmarks with the midcap and smallcap indices up 2-3 percent each.
 4. Crude oil  | Oil prices rose more than 2 percent on Wednesday, boosted by draws in US inventories of crude, gasoline and distillates that lifted investors' hopes for some return in fuel demand. Brent crude futures rose $1.12, or 2.2 percent, to settle at $51.20 a barrel, while US West Texas Intermediate (WTI) crude futures rose $1.1, or 2.3 percent, to settle at $48.12 a barrel. (Image: Reuters)
4. Crude oil | Oil prices rose more than 2 percent on Wednesday, boosted by draws in US inventories of crude, gasoline and distillates that lifted investors' hopes for some return in fuel demand. Brent crude futures rose $1.12, or 2.2 percent, to settle at $51.20 a barrel, while US West Texas Intermediate (WTI) crude futures rose $1.1, or 2.3 percent, to settle at $48.12 a barrel. (Image: Reuters)
 5. Rupee  | The rupee snapped its two-day losing streak to settle higher by 8 paise at 73.76 against the US dollar on Wednesday, tracking strong domestic equities and sustained foreign fund inflows. At the interbank forex market, the local unit opened at 73.89 against the greenback and witnessed an intra-day high of 73.73 and a low of 73.90. It finally ended at 73.76 against the American currency, registering a rise of 8 paise over its previous close. On Tuesday, rupee had settled at 73.84 against the American currency.
5. Rupee | The rupee snapped its two-day losing streak to settle higher by 8 paise at 73.76 against the US dollar on Wednesday, tracking strong domestic equities and sustained foreign fund inflows. At the interbank forex market, the local unit opened at 73.89 against the greenback and witnessed an intra-day high of 73.73 and a low of 73.90. It finally ended at 73.76 against the American currency, registering a rise of 8 paise over its previous close. On Tuesday, rupee had settled at 73.84 against the American currency.
 6. RBI  | RBI Governor Shaktikanta Das met MD & CEOs of public and private sector banks over video conference. Assessment of the current economic situation and outlook, Monetary Policy transmission and liquidity situation, credit flows to different sectors of the economy, among other issues were discussed in the meeting. The Governor stressed that banks should raise capital when the going is good. He also told banks to be proactive in recognising and providing for stress.
6. RBI | RBI Governor Shaktikanta Das met MD & CEOs of public and private sector banks over video conference. Assessment of the current economic situation and outlook, Monetary Policy transmission and liquidity situation, credit flows to different sectors of the economy, among other issues were discussed in the meeting. The Governor stressed that banks should raise capital when the going is good. He also told banks to be proactive in recognising and providing for stress.
 7. US employment  | The number of Americans seeking unemployment benefits fell by 89,000 last week to a still-elevated 803,000, evidence that the job market remains under stress nine months after the coronavirus outbreak sent the US economy into recession and caused millions of layoffs. The latest figure, released Wednesday by the Labour Department, shows that many employers are still cutting jobs as the pandemic tightens business restrictions and leads many consumers to stay home.
7. US employment | The number of Americans seeking unemployment benefits fell by 89,000 last week to a still-elevated 803,000, evidence that the job market remains under stress nine months after the coronavirus outbreak sent the US economy into recession and caused millions of layoffs. The latest figure, released Wednesday by the Labour Department, shows that many employers are still cutting jobs as the pandemic tightens business restrictions and leads many consumers to stay home.
 8. Brexit  | A senior European diplomat told Reuters on Wednesday that a Brexit trade deal could be imminent, raising hopes that Britain and the European Union could avoid a turbulent economic rupture in just eight days. There was no confirmation from Britain that a deal was about to be struck; the two sides have given a dizzying array of conflicting signals over recent days, and another EU official said:
8. Brexit | A senior European diplomat told Reuters on Wednesday that a Brexit trade deal could be imminent, raising hopes that Britain and the European Union could avoid a turbulent economic rupture in just eight days. There was no confirmation from Britain that a deal was about to be struck; the two sides have given a dizzying array of conflicting signals over recent days, and another EU official said: "It could still go either way."
 9. Finance minister  | The government received a host of suggestions concerning fiscal policy, taxation and green growth, among others, from various stakeholders during the customary pre-Budget meetings convened by the Finance Ministry through video conferencing. More than 170 invitees representing 9 stakeholder groups participated in 15 virtual meetings chaired by Finance Minister Nirmala Sitharaman, the Finance Ministry said in a release.
9. Finance minister | The government received a host of suggestions concerning fiscal policy, taxation and green growth, among others, from various stakeholders during the customary pre-Budget meetings convened by the Finance Ministry through video conferencing. More than 170 invitees representing 9 stakeholder groups participated in 15 virtual meetings chaired by Finance Minister Nirmala Sitharaman, the Finance Ministry said in a release.
 10. COVID-19 vaccine  | Covaxin, a COVID-19 vaccine being developed by Bharat Biotech, showed long-term antibody and T- cell (immune) memory responses three months after the shot in phase 1 volunteers and tolerable safety outcomes in Phase 2 study, the city-based company has said, suggesting the antibodies may persist for six to 12 months. In phase 2, it also showed enhanced humoral and cell-mediated immune responses and the results were found in the safety and immunogenicity clinical trial of the vaccine candidate. Memory T cells are antigen-specific T cells that remain over a long term after an infection has been eliminated.
10. COVID-19 vaccine | Covaxin, a COVID-19 vaccine being developed by Bharat Biotech, showed long-term antibody and T- cell (immune) memory responses three months after the shot in phase 1 volunteers and tolerable safety outcomes in Phase 2 study, the city-based company has said, suggesting the antibodies may persist for six to 12 months. In phase 2, it also showed enhanced humoral and cell-mediated immune responses and the results were found in the safety and immunogenicity clinical trial of the vaccine candidate. Memory T cells are antigen-specific T cells that remain over a long term after an infection has been eliminated.
Published : December 24, 2020 08:02 AM IST
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