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10 things you need to know before the opening bell on December 31

Updated : December 31, 2019 07:56 AM IST

Indian shares are expected to open lower on Tuesday due to muted trading activities amid the holiday season in major global markets. We bring to you a number of stories on the star stocks of 2019 and the sectors that performed well this year.

1. Asia: Markets in Japan and South Korea are closed, while Hong Kong, Singapore, and Australia are also set to end their trading day earlier on Tuesday. Shares in Australia slipped in morning trade on Tuesday ahead of an early close or holiday for major markets in Asia. The S&P/ASX 200 declined 1.26 percent as almost all sectors declined. (Image: Reuters)
1. Asia: Markets in Japan and South Korea are closed, while Hong Kong, Singapore, and Australia are also set to end their trading day earlier on Tuesday. Shares in Australia slipped in morning trade on Tuesday ahead of an early close or holiday for major markets in Asia. The S&P/ASX 200 declined 1.26 percent as almost all sectors declined. (Image: Reuters)
2. US: Wall Street's major stock indexes slipped from record highs on Monday as investors booked profits from gains made this month after the United States and China reached a trade deal. The S&P 500, the Dow Jones Industrial Average and the Nasdaq posted their biggest one-day percentage declines in about four weeks. The Dow Jones Industrial Average fell 183.12 points, or 0.64 percent, to 28,462.14, the S&P 500 lost 18.73 points, or 0.58 percent, to 3,221.29 and the Nasdaq Composite dropped 60.62 points, or 0.67 percent, to 8,945.99. (Image: Reuters)
2. US: Wall Street's major stock indexes slipped from record highs on Monday as investors booked profits from gains made this month after the United States and China reached a trade deal. The S&P 500, the Dow Jones Industrial Average and the Nasdaq posted their biggest one-day percentage declines in about four weeks. The Dow Jones Industrial Average fell 183.12 points, or 0.64 percent, to 28,462.14, the S&P 500 lost 18.73 points, or 0.58 percent, to 3,221.29 and the Nasdaq Composite dropped 60.62 points, or 0.67 percent, to 8,945.99. (Image: Reuters)
3. Markets At Close On Monday: Indian shares ended flat on Monday as gains in index heavyweights like HDFC Bank, ITC, and Bharti Airtel were capped by losses in banking and IT stocks. The BSE Sensex ended 17 points lower at 41,558, while Nifty50 settled 10 points higher at 12,256. Meanwhile, foreign institutional investors sold Rs 131 crore in the cash market while the domestic institutional investors bought Rs 201 crore. (Image: Reuters)
3. Markets At Close On Monday: Indian shares ended flat on Monday as gains in index heavyweights like HDFC Bank, ITC, and Bharti Airtel were capped by losses in banking and IT stocks. The BSE Sensex ended 17 points lower at 41,558, while Nifty50 settled 10 points higher at 12,256. Meanwhile, foreign institutional investors sold Rs 131 crore in the cash market while the domestic institutional investors bought Rs 201 crore. (Image: Reuters)
4. Rupee Close: The rupee appreciated by 4 paise to settle at 71.31 against the US currency amid the weakening of the US dollar in overseas markets even as crude oil prices surged. Subdued domestic equity markets and high crude oil prices restricted the gains in the rupee, analysts said. At the interbank foreign exchange market, the rupee opened at 71.36 against the US dollar. During the day, the domestic unit saw a high of 71.30 and a low of 71.39. (Image: Reuters)
4. Rupee Close: The rupee appreciated by 4 paise to settle at 71.31 against the US currency amid the weakening of the US dollar in overseas markets even as crude oil prices surged. Subdued domestic equity markets and high crude oil prices restricted the gains in the rupee, analysts said. At the interbank foreign exchange market, the rupee opened at 71.36 against the US dollar. During the day, the domestic unit saw a high of 71.30 and a low of 71.39. (Image: Reuters)
5. Crude Oil: Oil alternated between gains and losses on Monday before ultimately closing lower, as optimism over an expected China-U.S. trade deal and upbeat industrial data weren’t enough to push prices higher. West Texas Intermediate crude futures fell 4 cents to settle at $61.88 per barrel. Brent crude futures gained 28 cents to settle at $68.44 per barrel. (Image: Reuters)
5. Crude Oil: Oil alternated between gains and losses on Monday before ultimately closing lower, as optimism over an expected China-U.S. trade deal and upbeat industrial data weren’t enough to push prices higher. West Texas Intermediate crude futures fell 4 cents to settle at $61.88 per barrel. Brent crude futures gained 28 cents to settle at $68.44 per barrel. (Image: Reuters)
6. CBDT Extends Aadhaar-Pan Linking Deadline: The due date for linking of PAN with Aadhaar has been extended from December 31, 2019, to March 31, 2020. The notification is specified under sub-section 2 of Section 139AA of the Income-tax Act, 1961. The due date for linking of PAN with Aadhaar as specified under sub-section 2 of Section 139AA of the Income-Tax Act, 1961 has been extended from 31st December 2019 to 31st March 2020,
6. CBDT Extends Aadhaar-Pan Linking Deadline: The due date for linking of PAN with Aadhaar has been extended from December 31, 2019, to March 31, 2020. The notification is specified under sub-section 2 of Section 139AA of the Income-tax Act, 1961. The due date for linking of PAN with Aadhaar as specified under sub-section 2 of Section 139AA of the Income-Tax Act, 1961 has been extended from 31st December 2019 to 31st March 2020," the tax department said in a Twitter post. (Image: Reuters)
7. Government's New Panel On Economic Statistics: After facing questions over the credibility of official economic data, the government has decided to set up a 28-member panel to overhaul the system for reviewing economic statistics. The move comes just months after a group of 108 economists and social scientists wrote an open letter raising questions of political interference in statistics. They also appealed against what they called,
7. Government's New Panel On Economic Statistics: After facing questions over the credibility of official economic data, the government has decided to set up a 28-member panel to overhaul the system for reviewing economic statistics. The move comes just months after a group of 108 economists and social scientists wrote an open letter raising questions of political interference in statistics. They also appealed against what they called, "a tendency to suppress uncomfortable data." Three people who were signatories to this letter have also been roped into this panel. The panel will be headed by Former Chief Statistician Dr Pronab Sen. (Image: Reuters)
8. MSMEs On Small Tenders: Seeking a bigger slice of public procurement pie, the micro, small and medium enterprises (MSMEs) sector has proposed small-ticket tenders so that they could participate in bidding. In its budget suggestions, Federation of Indian Micro and Small & Medium Enterprises (FISME) has said that smaller firms are getting elbowed out from public procurement as orders are generally bundled up making their size very large.
8. MSMEs On Small Tenders: Seeking a bigger slice of public procurement pie, the micro, small and medium enterprises (MSMEs) sector has proposed small-ticket tenders so that they could participate in bidding. In its budget suggestions, Federation of Indian Micro and Small & Medium Enterprises (FISME) has said that smaller firms are getting elbowed out from public procurement as orders are generally bundled up making their size very large. "These practices need to be checked and remedial steps taken," the industry body has written to finance minister Nirmala Sitharaman. (Image: Reuters)
9. RBI Tightens Lending Norms For UCBs: The RBI on Monday proposed reduction in loan amount an urban co-operative bank can lend to a single entity and a group of borrowers to 10 percent and 25 percent, respectively, with an aim to prevent PMC Bank like scams caused by a large exposure to one group. Currently, primary (urban) co-operative banks (UCBs) are permitted to have exposures up to 15 percent and 40 percent of their capital funds to a single borrower and a group of borrowers, respectively. In a draft circular, the RBI said large exposure of banks to single borrowers/parties or groups of connected borrowers/parties leads to credit concentration risk. (Image: Reuters)
9. RBI Tightens Lending Norms For UCBs: The RBI on Monday proposed reduction in loan amount an urban co-operative bank can lend to a single entity and a group of borrowers to 10 percent and 25 percent, respectively, with an aim to prevent PMC Bank like scams caused by a large exposure to one group. Currently, primary (urban) co-operative banks (UCBs) are permitted to have exposures up to 15 percent and 40 percent of their capital funds to a single borrower and a group of borrowers, respectively. In a draft circular, the RBI said large exposure of banks to single borrowers/parties or groups of connected borrowers/parties leads to credit concentration risk. (Image: Reuters)
10. Ravi Shankar Prasad On 5G Spectrum: India will not bar any equipment suppliers, such as China's Huawei, in the upcoming trials for 5G, with Telecom Minister Ravi Shankar Prasad on Monday saying the government will allocate airwaves to all telecom service providers for conducting trials of super-fast speed 5G networks. This implies that all operators, backed by equipment vendors they have decided to partner with, will be able to participate in the upcoming 5G trials in the country, and the stance is expected to spell a relief for Chinese gear maker Huawei.
10. Ravi Shankar Prasad On 5G Spectrum: India will not bar any equipment suppliers, such as China's Huawei, in the upcoming trials for 5G, with Telecom Minister Ravi Shankar Prasad on Monday saying the government will allocate airwaves to all telecom service providers for conducting trials of super-fast speed 5G networks. This implies that all operators, backed by equipment vendors they have decided to partner with, will be able to participate in the upcoming 5G trials in the country, and the stance is expected to spell a relief for Chinese gear maker Huawei. "The age of 5G is coming... We have taken a decision to give 5G spectrum for trials to all the players," Prasad said. (Image: Reuters)
Published : December 31, 2019 07:42 AM IST
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