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10 things you need to know before the opening bell on January 16

Updated : 2020-01-16 08:03:34

Indian shares are likely to open marginally higher on Thursday, tracking rallying global stocks after the US and China signed an initial trade deal. India’s trade data and Q3 corporate earnings are likely to weigh on the domestic market. We bring to you the key things to know before the market opens

1. Asia: Markets saw muted gains on Thursday after the United States and China ended some uncertainties for the world economy by signing a partial trade agreement. Japan’s Nikkei 225 rose 0.12 percent to 23,944.73 after the first half-hour of trade while the Topix index was fractionally lower at 1,729.59. In South Korea, the Kospi index traded flat, but  Australia’s benchmark ASX 200 rose 0.49 percent, with most sectors trading up. (Image: Reuters)
1. Asia: Markets saw muted gains on Thursday after the United States and China ended some uncertainties for the world economy by signing a partial trade agreement. Japan’s Nikkei 225 rose 0.12 percent to 23,944.73 after the first half-hour of trade while the Topix index was fractionally lower at 1,729.59. In South Korea, the Kospi index traded flat, but  Australia’s benchmark ASX 200 rose 0.49 percent, with most sectors trading up. (Image: Reuters)
2. US: The Dow ended above 29,000 for the first time on Wednesday and the S&P 500 also closed at a record high after the United States and China signed a Phase 1 trade agreement and pledged to resolve a tariff dispute that has roiled Wall Street for over a year. The Dow Jones Industrial Average rose 0.31 percent to 29,030.22 points, ending above 29,000 for the first time. The S&P 500 gained 0.19 percent to 3,289.3, its highest ever close. The Nasdaq Composite added 0.08 percent to 9,258.70, just short of its record high close-set on Monday. (Image: AP)
2. US: The Dow ended above 29,000 for the first time on Wednesday and the S&P 500 also closed at a record high after the United States and China signed a Phase 1 trade agreement and pledged to resolve a tariff dispute that has roiled Wall Street for over a year. The Dow Jones Industrial Average rose 0.31 percent to 29,030.22 points, ending above 29,000 for the first time. The S&P 500 gained 0.19 percent to 3,289.3, its highest ever close. The Nasdaq Composite added 0.08 percent to 9,258.70, just short of its record high close-set on Monday. (Image: AP)
3. Markets At Close On Wednesday: Indian shares ended mildly in the red on Wednesday, after hitting record highs in two previous sessions, as major banking heavyweights including IndusInd Bank, SBI, and HDFC Bank fell during the day. The Sensex settled 80 points lower at 41,873, while Nifty ended 19 points lower at 12,343. Meanwhile, foreign institutional investors bought Rs 280 crore in the cash market while the domestic institutional investors sold Rs 648 crore. (Image: Reuters)
3. Markets At Close On Wednesday: Indian shares ended mildly in the red on Wednesday, after hitting record highs in two previous sessions, as major banking heavyweights including IndusInd Bank, SBI, and HDFC Bank fell during the day. The Sensex settled 80 points lower at 41,873, while Nifty ended 19 points lower at 12,343. Meanwhile, foreign institutional investors bought Rs 280 crore in the cash market while the domestic institutional investors sold Rs 648 crore. (Image: Reuters)
4. Rupee Close: The rupee pared its early losses to settle 5 paise higher at 70.82 against the US dollar on Wednesday, ahead of the signing of phase 1 trade agreement between the US and China. At the interbank foreign exchange, the rupee opened on a weak note at 71.01 against the US dollar. The local unit hit a high of 70.80. Finally, it closed at 70.82 against the US dollar, higher by 5 paise over its previous closing. (Image: Reuters)
4. Rupee Close: The rupee pared its early losses to settle 5 paise higher at 70.82 against the US dollar on Wednesday, ahead of the signing of phase 1 trade agreement between the US and China. At the interbank foreign exchange, the rupee opened on a weak note at 71.01 against the US dollar. The local unit hit a high of 70.80. Finally, it closed at 70.82 against the US dollar, higher by 5 paise over its previous closing. (Image: Reuters)
5. Crude Oil: Oil prices on Wednesday fell after a U.S. report showed big increases in gasoline and distillates inventories and as crude production rose to a new record. Brent futures fell 49 cents, or 0.8 percent, to settle at $64.00 a barrel, while U.S. West Texas Intermediate crude fell 42 cents, or 0.7 percent, to settle at $57.81 per barrel. (Image: Reuters)
5. Crude Oil: Oil prices on Wednesday fell after a U.S. report showed big increases in gasoline and distillates inventories and as crude production rose to a new record. Brent futures fell 49 cents, or 0.8 percent, to settle at $64.00 a barrel, while U.S. West Texas Intermediate crude fell 42 cents, or 0.7 percent, to settle at $57.81 per barrel. (Image: Reuters)
6. Exports Contract For 5th Straight Month: India's exports dropped 1.8 percent to $27.36 billion in December 2019, the fifth straight month of contraction, on account of a significant fall in shipments of plastic, gems and jewellery, leather products and chemicals. Imports too fell for the seventh consecutive months, down 8.83 percent at $38.61 billion in December 2019—helping narrow the trade deficit to $11.25 billion, showed the government data released on Wednesday. Gold imports shrunk by about 4 percent to $2.46 billion during the month under review. The trade deficit was $14.49 billion in December 2018. (Image: AP)
6. Exports Contract For 5th Straight Month: India's exports dropped 1.8 percent to $27.36 billion in December 2019, the fifth straight month of contraction, on account of a significant fall in shipments of plastic, gems and jewellery, leather products and chemicals. Imports too fell for the seventh consecutive months, down 8.83 percent at $38.61 billion in December 2019—helping narrow the trade deficit to $11.25 billion, showed the government data released on Wednesday. Gold imports shrunk by about 4 percent to $2.46 billion during the month under review. The trade deficit was $14.49 billion in December 2018. (Image: AP)
7. Piyush Goyal On Imports: Concerned over rising imports in the 'others' category, Commerce and Industry Minister Piyush Goyal on Wednesday asked those importers to seek HSN or tariff code within 30 days from the foreign trade office, failing which the government would impose strong restrictions on their inbound shipments. In trade parlance, every product is categorized under an HSN code (Harmonised System of Nomenclature). It helps in the systematic classification of goods across the globe. Goyal said India is facing a
7. Piyush Goyal On Imports: Concerned over rising imports in the 'others' category, Commerce and Industry Minister Piyush Goyal on Wednesday asked those importers to seek HSN or tariff code within 30 days from the foreign trade office, failing which the government would impose strong restrictions on their inbound shipments. In trade parlance, every product is categorized under an HSN code (Harmonised System of Nomenclature). It helps in the systematic classification of goods across the globe. Goyal said India is facing a "big" problem in the country's imports of a category called "others" and in that category, all sorts of stuff is being imported into the country. (Image: Reuters)
9. FICCI On National Railway Plan: Industry chamber Ficci has suggested the government to formulate a national railway plan and reform procurement policy and processes to facilitate industry participation in the rail sector. It has also recommended a phased manufacturing programme, expansion of PPP (public-private partnership) model to newer areas, and closer collaboration with industry for the absorption of technology. The recommendations are part of a report prepared by Ficci's capital goods committee on opportunities for the industry with Indian Railways and metros. The report highlighted various opportunities for the capital goods sector under ambitious construction projects such as high-speed rail and dedicated freight corridors. (Image: Reuters)
9. FICCI On National Railway Plan: Industry chamber Ficci has suggested the government to formulate a national railway plan and reform procurement policy and processes to facilitate industry participation in the rail sector. It has also recommended a phased manufacturing programme, expansion of PPP (public-private partnership) model to newer areas, and closer collaboration with industry for the absorption of technology. The recommendations are part of a report prepared by Ficci's capital goods committee on opportunities for the industry with Indian Railways and metros. The report highlighted various opportunities for the capital goods sector under ambitious construction projects such as high-speed rail and dedicated freight corridors. (Image: Reuters)
10. Jewellery Sector On Gold Customs Duty: Ahead of the Budget, gems and jewellery industry has sought a reduction in import duty on gold to 6 percent and on cut and polished diamonds to 2.5 percent to revive the sector.
10. Jewellery Sector On Gold Customs Duty: Ahead of the Budget, gems and jewellery industry has sought a reduction in import duty on gold to 6 percent and on cut and polished diamonds to 2.5 percent to revive the sector. "The high duty of 12.5 percent on gold coupled with the goods and services tax has made buying jewellery very costly, affecting consumer demand. After the Budget last year, we have met the finance minister several times and we are positive that the government will look into the industry plight and reduce the customs duty to 6 percent," All India Gem and Jewellery Domestic Council (GJC) Chairman Anantha Padmanaban told PTI here. Saying that liquidity is a major area of concern, he said, the government should take steps to ensure that banks lend to jewellers. (Image: Reuters)
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