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10 things you need to know before the opening bell on February 17

Updated : 2020-02-17 08:06:17

The Indian market is expected to open lower on Monday tracking global markets that are trading in the red as investors continue to worry about the hit on global growth due to the fast-spreading coronavirus that originated in China. Additionally, other factors such as the report of the DoT planning to initiate actions against telecom companies could also weigh on the market. Here are the top stocks to watch out for:

1. Asia: Asia Pacific markets declined Monday morning as government data showed Japan’s economy contracted in the previous quarter for the first time in more than a year. Japanese shares led losses, with the benchmark Nikkei 225 down 1.34 percent and the Topix index off by 1.44 percent. In Australia, the ASX 200 dipped 0.34 percent as the heavily weighted financial subindex declined 0.84 percent. South Korea’s Kospi index fell 0.47 percent. (Image: AP)
1. Asia: Asia Pacific markets declined Monday morning as government data showed Japan’s economy contracted in the previous quarter for the first time in more than a year.
Japanese shares led losses, with the benchmark Nikkei 225 down 1.34 percent and the Topix index off by 1.44 percent. In Australia, the ASX 200 dipped 0.34 percent as the heavily weighted financial subindex declined 0.84 percent. South Korea’s Kospi index fell 0.47 percent. (Image: AP)
2. US: The S&P 500 ended modestly higher on Friday following strong earnings from Nvidia and a report late in the session that the White House was considering a tax incentive for Americans to buy stocks. The Dow Jones Industrial Average fell 25.23 points, or 0.09 percent, to 29,398.08, the S&P 500 gained 6.22 points, or 0.18 percent, to 3,380.16 and the Nasdaq Composite added 19.21 points, or 0.2 percent, to 9,731.18. (Image: Reuters)
2. US: The S&P 500 ended modestly higher on Friday following strong earnings from Nvidia and a report late in the session that the White House was considering a tax incentive for Americans to buy stocks. The Dow Jones Industrial Average fell 25.23 points, or 0.09 percent, to 29,398.08, the S&P 500 gained 6.22 points, or 0.18 percent, to 3,380.16 and the Nasdaq Composite added 19.21 points, or 0.2 percent, to 9,731.18. (Image: Reuters)
3. Market At Close On Friday: Indian equity indices ended the week with minor gains as fears of coronavirus epidemic affecting global growth weighed on investor sentiment.  The BSE Sensex ended 202 points lower at 41,258, while the Nifty50 index settled 61 points lower at 12,113. Meanwhile, foreign institutional investors sold Rs 705 crore in the cash market while the domestic institutional investors bought Rs 220 crore. (Image: Reuters)
3. Market At Close On Friday: Indian equity indices ended the week with minor gains as fears of coronavirus epidemic affecting global growth weighed on investor sentiment.  The BSE Sensex ended 202 points lower at 41,258, while the Nifty50 index settled 61 points lower at 12,113. Meanwhile, foreign institutional investors sold Rs 705 crore in the cash market while the domestic institutional investors bought Rs 220 crore. (Image: Reuters)
4. Crude Oil: Oil prices rose on Friday, on track for their first weekly gain since early January as investors bet the economic impact of the coronavirus would be short-lived and hoped for further Chinese central bank stimulus to tackle any slowdown. Brent crude was up 89 cents or 1.6 percent at $57.23 per barrel. U.S. West Texas Intermediate gained 63 cents or 1.2 percent to settle at $52.05 per barrel, up 3.3% for the week. (Image: Reuters)
4. Crude Oil: Oil prices rose on Friday, on track for their first weekly gain since early January as investors bet the economic impact of the coronavirus would be short-lived and hoped for further Chinese central bank stimulus to tackle any slowdown. Brent crude was up 89 cents or 1.6 percent at $57.23 per barrel. U.S. West Texas Intermediate gained 63 cents or 1.2 percent to settle at $52.05 per barrel, up 3.3% for the week. (Image: Reuters)
5. Rupee Close: The rupee on Friday fell by 6 paise to close at 71.37 against the US dollar tracking heavy selling in domestic equities and strengthening of the American currency in the overseas market. Forex traders said the rupee consolidated in a narrow range as the strengthening of the US dollar, rise in crude oil prices and heavy selling in domestic equities weighed on the local unit. At the interbank foreign exchange market, the local currency opened on a positive note at 71.29. During the day, it lost ground and touched a low of 71.41 and finally settled 6 paise lower at 71.37 against the US currency. On a weekly basis, the rupee has gained 3 paise. (Image for representational purpose)
5. Rupee Close: The rupee on Friday fell by 6 paise to close at 71.37 against the US dollar tracking heavy selling in domestic equities and strengthening of the American currency in the overseas market. Forex traders said the rupee consolidated in a narrow range as the strengthening of the US dollar, rise in crude oil prices and heavy selling in domestic equities weighed on the local unit. At the interbank foreign exchange market, the local currency opened on a positive note at 71.29. During the day, it lost ground and touched a low of 71.41 and finally settled 6 paise lower at 71.37 against the US currency. On a weekly basis, the rupee has gained 3 paise. (Image for representational purpose)
6. Finance Minister On Growth: Finance Minister Nirmala Sitharaman on Friday said that if required, the government would take more steps beyond the announcements made in the Union Budget 2020-21. At an interactive session on 'Budget and Beyond' with professionals from asset management, wealth advisory, tax consultancy and other related industries, the minister also said the Budget 2020-21 was a budget where the impact on equity, bond and currency markets was positive.
6. Finance Minister On Growth: Finance Minister Nirmala Sitharaman on Friday said that if required, the government would take more steps beyond the announcements made in the Union Budget 2020-21. At an interactive session on 'Budget and Beyond' with professionals from asset management, wealth advisory, tax consultancy and other related industries, the minister also said the Budget 2020-21 was a budget where the impact on equity, bond and currency markets was positive. "If more has to be done beyond the Budget 2020, we are willing to do that," Sitharaman said at the session, where the participants made several suggestions to boost economic activities in the country. (Image: PTI)
7. India Inc Expects Mini Trade Deal: India Inc expects tangible outcomes from US President Donald Trump's maiden visit to the world's fifth-largest economy later this month, including a bilateral
7. India Inc Expects Mini Trade Deal: India Inc expects tangible outcomes from US President Donald Trump's maiden visit to the world's fifth-largest economy later this month, including a bilateral "mini" trade deal and higher investment commitments from American companies, industry groups said on Sunday. India is demanding exemption from high duties imposed by the US on certain steel and aluminum products, resumption of export benefits to certain domestic products under the Generalised System of Preferences, and greater market access for its products from sectors like agriculture, automobile, auto components, and engineering. On the other hand, the US wants greater market access for its farm and manufacturing products, dairy items and medical devices, data localisation, and cut on import duties on some information and communication technology (ICT) products. (Image: Reuters)
 8. SEBI To Implement Governance Structure:    Markets regulator Sebi is looking to prepare and implement a governance structure, which is custom-made to suit the needs of a business, and advising its
8. SEBI To Implement Governance Structure: Markets regulator Sebi is looking to prepare and implement a governance structure, which is custom-made to suit the needs of a business, and advising its "staff of their obligations to ensure ongoing compliance". The regulator plans to prepare policy documents, standard operating procedures (SOPs) and other IT documents through consultations as Sebi has certain policy documents in place which might require variations as per the best industry standards and practices. Accordingly, the markets watchdog has invited expressions of interest (EoI) from agencies for consultation for information technology (IT) policy preparation, risk assessment and SOP documentation at Sebi. (Image: Reuters)
9. Government On Global Depository Receipts Listing: Indian companies now have the option to list their global depository receipts at the international financial services centre in Gujarat, with the government amending the rules. The move would help companies in having another avenue for raising funds. The corporate affairs ministry has amended the Companies (Issue of Global Depository Receipts) Rules, 2014, permitting listing of Global Depository Receipts (GDRs) at Gujarat International Finance Tec-City (GIFT).
9. Government On Global Depository Receipts Listing: Indian companies now have the option to list their global depository receipts at the international financial services centre in Gujarat, with the government amending the rules. The move would help companies in having another avenue for raising funds. The corporate affairs ministry has amended the Companies (Issue of Global Depository Receipts) Rules, 2014, permitting listing of Global Depository Receipts (GDRs) at Gujarat International Finance Tec-City (GIFT). "The depository receipts can be issued by way of public offering or private placement or in any other manner prevalent in the concerned jurisdiction and may be listed or traded on the listing or trading platform in the concerned jurisdiction," the ministry said in the amended rules. (Image: AP)
10. Government Clears Investments In Stuck Housing Projects: The government, which has set up a Rs 25,000-crore stress fund to revive stalled housing projects, on Friday said it has cleared investments of over Rs 540 crore in some stuck residential properties that will benefit 1,800 homebuyers. That apart, a preliminary clearance has been given for due diligence in 14 projects, which would require a fund infusion of Rs 2,500 crore. Another 40 more transactions are under active consideration. In November last year, the central government announced a Rs 25,000-crore fund to help complete over 1,500 stalled housing projects, including even those that have been declared NPAs (non-performing assets) or admitted for insolvency proceedings. The move is likely to help 4.58 lakh housing units across the country. (Image: AP)
10. Government Clears Investments In Stuck Housing Projects: The government, which has set up a Rs 25,000-crore stress fund to revive stalled housing projects, on Friday said it has cleared investments of over Rs 540 crore in some stuck residential properties that will benefit 1,800 homebuyers. That apart, a preliminary clearance has been given for due diligence in 14 projects, which would require a fund infusion of Rs 2,500 crore. Another 40 more transactions are under active consideration. In November last year, the central government announced a Rs 25,000-crore fund to help complete over 1,500 stalled housing projects, including even those that have been declared NPAs (non-performing assets) or admitted for insolvency proceedings. The move is likely to help 4.58 lakh housing units across the country. (Image: AP)
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