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10 things you need to know before the opening bell on January 19

Updated : 2021-01-19 08:15:47

The Indian market is likely to open higher on Tuesday as the trend on SGX Nifty indicates a positive start for the broader index in India. The Nifty futures were trading 96.50 points or 0.68 percent higher at the 14,372.50 level on the Singaporean Exchange at 8:05 am.

 1. Wall Street  | US stock market was shut on Monday on account of Martin Luther King Jr. Day.
1. Wall Street | US stock market was shut on Monday on account of Martin Luther King Jr. Day.
 2. Asian Stocks  | Asian share markets edged ahead on Tuesday as investors wagered China's economic strength would help underpin growth in the region, even as pandemic lockdowns threatened to lengthen the road to recovery in the West. In Japan, the Nikkei 225 gained 0.96 percent while the Topix index advanced 0.46 percent. South Korea’s Kospi rose 0.11 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.13 percent higher.
2. Asian Stocks | Asian share markets edged ahead on Tuesday as investors wagered China's economic strength would help underpin growth in the region, even as pandemic lockdowns threatened to lengthen the road to recovery in the West. In Japan, the Nikkei 225 gained 0.96 percent while the Topix index advanced 0.46 percent. South Korea’s Kospi rose 0.11 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.13 percent higher.
 3. Crude Oil  | Brent crude futures edged up on Tuesday as optimism that government stimulus will buoy global economic growth and oil demand trumped concerns that renewed COVID-19 pandemic lockdowns globally could cool fuel consumption. Brent crude futures for March rose 17 cents, or 0.3 percent, to $54.92 a barrel after slipping 35 cents in the previous session. US West Texas Intermediate crude was at $52.25 a barrel, down 11 cents, or 0.2 percent. There was no settlement on Monday as U. markets were closed for a public holiday. Front-month February WTI futures expire on Wednesday.
3. Crude Oil | Brent crude futures edged up on Tuesday as optimism that government stimulus will buoy global economic growth and oil demand trumped concerns that renewed COVID-19 pandemic lockdowns globally could cool fuel consumption. Brent crude futures for March rose 17 cents, or 0.3 percent, to $54.92 a barrel after slipping 35 cents in the previous session. US West Texas Intermediate crude was at $52.25 a barrel, down 11 cents, or 0.2 percent. There was no settlement on Monday as U. markets were closed for a public holiday. Front-month February WTI futures expire on Wednesday.
 4. Indian Market on Monday  | The Indian equity market ended lower on Monday dragged by heavy selling across the board. The Sensex ended 0.96 percent, or 470.40 points lower at 48,564.27, while Nifty closed at 14,281.30, down 1.06 percent, or 152.40 points. Broader indices underperformed the benchmarks with Nifty Midcap100 and Nifty Smallcap100 declining more than 2 percent each.  All the sectoral indices ended in the red with the Nifty Metal index losing over 4 percent followed by Nifty Pharma, Nifty PSU Bank, Nifty Auto and Nifty Realty falling over 2 percent each.
4. Indian Market on Monday | The Indian equity market ended lower on Monday dragged by heavy selling across the board. The Sensex ended 0.96 percent, or 470.40 points lower at 48,564.27, while Nifty closed at 14,281.30, down 1.06 percent, or 152.40 points. Broader indices underperformed the benchmarks with Nifty Midcap100 and Nifty Smallcap100 declining more than 2 percent each.  All the sectoral indices ended in the red with the Nifty Metal index losing over 4 percent followed by Nifty Pharma, Nifty PSU Bank, Nifty Auto and Nifty Realty falling over 2 percent each.
 5. Rupee  | The rupee plunged by 21 paise to settle at a week's low of 73.28 against the US dollar on Monday, tracking weak domestic equities and a rebound in the American currency. At the interbank forex market, the domestic unit opened at 73.21 against the greenback and swung between a low of 73.30 and a high of 73.18 during the session. It finally settled down by 21 paise at 73.28, the lowest closing level since January 11.
5. Rupee | The rupee plunged by 21 paise to settle at a week's low of 73.28 against the US dollar on Monday, tracking weak domestic equities and a rebound in the American currency. At the interbank forex market, the domestic unit opened at 73.21 against the greenback and swung between a low of 73.30 and a high of 73.18 during the session. It finally settled down by 21 paise at 73.28, the lowest closing level since January 11.
 6. FM Holds Pre-Budget Meeting With State FMs  | As part of pre-Budget deliberations, Finance Minister Nirmala Sitharaman on Monday held a meeting with state finance ministers who suggested steps to revive growth and boost revenue collection against the backdrop of COVID-19 crisis. The Finance Ministry in a statement said the meeting was held through video conference and was attended by chief ministers, deputy chief ministers, finance ministers, ministers and senior officers from the states and Union Territories and the Union Government.
6. FM Holds Pre-Budget Meeting With State FMs | As part of pre-Budget deliberations, Finance Minister Nirmala Sitharaman on Monday held a meeting with state finance ministers who suggested steps to revive growth and boost revenue collection against the backdrop of COVID-19 crisis. The Finance Ministry in a statement said the meeting was held through video conference and was attended by chief ministers, deputy chief ministers, finance ministers, ministers and senior officers from the states and Union Territories and the Union Government.
 7. GST Compensation  | The Finance Ministry on Monday released the 12th instalment of Rs 6,000 crore to states to meet the GST compensation shortfall, taking the total amount released so far under this window to Rs 72,000 crore. The Centre had set up a special borrowing window in October 2020 to meet the estimated shortfall of Rs 1.10 lakh crore in revenue arising on account of implementation of Goods and Services Tax (GST).
7. GST Compensation | The Finance Ministry on Monday released the 12th instalment of Rs 6,000 crore to states to meet the GST compensation shortfall, taking the total amount released so far under this window to Rs 72,000 crore. The Centre had set up a special borrowing window in October 2020 to meet the estimated shortfall of Rs 1.10 lakh crore in revenue arising on account of implementation of Goods and Services Tax (GST).
 8. Banks’ Low Profitability, Weak Asset Quality Pose Difficulty in Boosting Digitisation: S&P  | S&P Global Ratings has said India's banking system's low profitability and weak asset quality present some difficulties in significantly boosting digitalisation for several state-owned and smaller private-sector banks. In its report titled 'Tech Disruption in retail banking: Top tier banks lead the change', S&P said India's digital disruption, however, poses a relatively low risk to its top-tier banks' longstanding market position.
8. Banks’ Low Profitability, Weak Asset Quality Pose Difficulty in Boosting Digitisation: S&P | S&P Global Ratings has said India's banking system's low profitability and weak asset quality present some difficulties in significantly boosting digitalisation for several state-owned and smaller private-sector banks. In its report titled 'Tech Disruption in retail banking: Top tier banks lead the change', S&P said India's digital disruption, however, poses a relatively low risk to its top-tier banks' longstanding market position.
 9. PLI Scheme  | The government may keep an outlay of Rs 7,500 crore under the production linked incentive scheme for IT hardware products like personal computers, laptops, tablets and servers, a source told PTI. Foreign companies looking for incentives under the scheme may have to invest Rs 500 crore over four years, while the threshold for domestic firms is likely to be around Rs 20 crore for five years.
9. PLI Scheme | The government may keep an outlay of Rs 7,500 crore under the production linked incentive scheme for IT hardware products like personal computers, laptops, tablets and servers, a source told PTI. Foreign companies looking for incentives under the scheme may have to invest Rs 500 crore over four years, while the threshold for domestic firms is likely to be around Rs 20 crore for five years.
 10. IMF  | The head of the International Monetary Fund said on Monday the global economic outlook remained highly uncertain given the coronavirus pandemic, and a growing divergence between rich and poor countries required the IMF to find more resources.
10. IMF | The head of the International Monetary Fund said on Monday the global economic outlook remained highly uncertain given the coronavirus pandemic, and a growing divergence between rich and poor countries required the IMF to find more resources.
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