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10 things you need to know before the opening bell on January 22

Updated : 2020-01-22 07:13:26

Indian shares are expected to open in the green on Wednesday as the SGX Nifty, an indicator of the opening for Nifty50, was trading 31 points or 0.25 percent higher at 12,222 at 7:03 am, hinting at a positive start for the domestic market. However, investors may remain cautious amid the ongoing earnings season and as they await the Union Budget 2020.

1. Asia: Asian share markets steadied on Wednesday as investors took stock of the spread of a new strain of coronavirus from China and weighed the possible consequences of a global pandemic. MSCI's broadest index of Asia-Pacific shares outside Japan spent the morning trading either side of flat. Japan's Nikkei opened 0.1 percent lower, before steadying to trade flat, as did Korea's Kospi index. Australia's S&P/ASX 200  inched 0.3 percent higher, while the safe havens of gold and U.S. 10-year government bonds handed back some gains. (Image: Reuters)
1. Asia: Asian share markets steadied on Wednesday as investors took stock of the spread of a new strain of coronavirus from China and weighed the possible consequences of a global pandemic. MSCI's broadest index of Asia-Pacific shares outside Japan spent the morning trading either side of flat. Japan's Nikkei opened 0.1 percent lower, before steadying to trade flat, as did Korea's Kospi index. Australia's S&P/ASX 200  inched 0.3 percent higher, while the safe havens of gold and U.S. 10-year government bonds handed back some gains. (Image: Reuters)
2. US: Wall Street lost ground on Tuesday, backing away from record highs as a viral outbreak from China found its way to U.S. shores and the International Monetary Fund (IMF) lowered its global economic growth forecast. The Dow Jones Industrial Average fell 152.06 points, or 0.52 percent, to 29,196.04, the S&P 500 lost 8.82 points, or 0.26 percent, to 3,320.8 and the Nasdaq Composite dropped 18.14 points, or 0.19 percent, to 9,370.81. (Image: Reuters)
2. US: Wall Street lost ground on Tuesday, backing away from record highs as a viral outbreak from China found its way to U.S. shores and the International Monetary Fund (IMF) lowered its global economic growth forecast. The Dow Jones Industrial Average fell 152.06 points, or 0.52 percent, to 29,196.04, the S&P 500 lost 8.82 points, or 0.26 percent, to 3,320.8 and the Nasdaq Composite dropped 18.14 points, or 0.19 percent, to 9,370.81. (Image: Reuters)
3. Markets At Close On Tuesday: Trade sentiment turned negative on geopolitical developments amid continuing slowdown concerns as the International Monetary Fund reduced India's gross domestic product (GDP) growth forecast for the current fiscal to 4.8 percent. The benchmark 30-share S&P BSE Sensex ended 205 points lower, or 0.49 percent, at 41,323. The broader 50-share NSE Nifty50 also slipped 54 points, or 0.45 percent, to settle Tuesday's trade at 12169. Meanwhile, foreign institutional investors sold Rs 50 crore in the cash market while the domestic institutional investors sold Rs 308 crore. (Image: Reuters)
3. Markets At Close On Tuesday: Trade sentiment turned negative on geopolitical developments amid continuing slowdown concerns as the International Monetary Fund reduced India's gross domestic product (GDP) growth forecast for the current fiscal to 4.8 percent. The benchmark 30-share S&P BSE Sensex ended 205 points lower, or 0.49 percent, at 41,323. The broader 50-share NSE Nifty50 also slipped 54 points, or 0.45 percent, to settle Tuesday's trade at 12169. Meanwhile, foreign institutional investors sold Rs 50 crore in the cash market while the domestic institutional investors sold Rs 308 crore. (Image: Reuters)
4. Crude Oil: Oil prices dipped on Tuesday on expectations that a well-supplied market would be able to absorb disruptions that have cut Libya’s crude production to a trickle. Brent crude was down 65 cents at $64.55 a barrel, having hit a session low of $64.06. U.S. West Texas Intermediate crude settled down 20 cents at $58.34, after hitting a low of $57.68 earlier in the day. (Image: Reuters)
4. Crude Oil: Oil prices dipped on Tuesday on expectations that a well-supplied market would be able to absorb disruptions that have cut Libya’s crude production to a trickle.
Brent crude was down 65 cents at $64.55 a barrel, having hit a session low of $64.06. U.S. West Texas Intermediate crude settled down 20 cents at $58.34, after hitting a low of $57.68 earlier in the day. (Image: Reuters)
5. Rupee Close: The Indian rupee logged its fourth straight loss on Tuesday, dropping another 10 paise to settle at 71.21 against the US dollar amid concerns over IMF revising downwards India's growth forecast and weak quarterly earnings. Besides, heavy sell-offs in the domestic equity market for the second session in a row and the outbreak of a deadly virus in China also impacted forex market sentiment. At the interbank foreign exchange market, the local currency opened on a weak note at 71.17. During the day, it saw a high of 71.13 and a low of 71.24. The Indian currency finally settled at 71.21, lower by 10 paise against its previous close. (Image: Reuters)
5. Rupee Close: The Indian rupee logged its fourth straight loss on Tuesday, dropping another 10 paise to settle at 71.21 against the US dollar amid concerns over IMF revising downwards India's growth forecast and weak quarterly earnings. Besides, heavy sell-offs in the domestic equity market for the second session in a row and the outbreak of a deadly virus in China also impacted forex market sentiment. At the interbank foreign exchange market, the local currency opened on a weak note at 71.17. During the day, it saw a high of 71.13 and a low of 71.24. The Indian currency finally settled at 71.21, lower by 10 paise against its previous close. (Image: Reuters)
6. December Passenger Vehicle Sales Slip: Automobile dealers' body FADA on Tuesday said retail sales of passenger vehicles in December 2019 declined 9 percent to 2,15,716 units year-on-year, as even the best offers failed to lift weak consumer sentiments. According to the Federation of Automobile Dealers Associations (FADA), passenger vehicles (PV) sales stood at 2,36,586 units in December 2018. Two-wheeler sales declined 16 percent to 12,64,169 units last month as compared with 15,00,545 units in December 2018. Commercial vehicle sales declined 21 percent to 67,793 units as compared to 85,833 units in December 2018. (Image: Reuters)
6. December Passenger Vehicle Sales Slip: Automobile dealers' body FADA on Tuesday said retail sales of passenger vehicles in December 2019 declined 9 percent to 2,15,716 units year-on-year, as even the best offers failed to lift weak consumer sentiments. According to the Federation of Automobile Dealers Associations (FADA), passenger vehicles (PV) sales stood at 2,36,586 units in December 2018. Two-wheeler sales declined 16 percent to 12,64,169 units last month as compared with 15,00,545 units in December 2018. Commercial vehicle sales declined 21 percent to 67,793 units as compared to 85,833 units in December 2018. (Image: Reuters)
7. SC On AGR Payment: The Supreme Court agreed to hear telcos' petitions to modify its October 24 order that made them liable to pay up more than Rs 1 trillion of adjusted gross revenue (AGR) dues by January 23. The Supreme Court on Tuesday agreed to list next week the fresh pleas of telecom firms, including Bharti Airtel, Vodafone Idea and Tata Teleservices, seeking a fresh schedule of payment of statutory dues to the tune of Rs 1.47 lakh crore to the Department of Telecommunications. The telcos said they wanted an open court hearing on their fresh pleas with regard to working out a fresh schedule of payment of their dues. (Image: Reuters)
7. SC On AGR Payment: The Supreme Court agreed to hear telcos' petitions to modify its October 24 order that made them liable to pay up more than Rs 1 trillion of adjusted gross revenue (AGR) dues by January 23. The Supreme Court on Tuesday agreed to list next week the fresh pleas of telecom firms, including Bharti Airtel, Vodafone Idea and Tata Teleservices, seeking a fresh schedule of payment of statutory dues to the tune of Rs 1.47 lakh crore to the Department of Telecommunications. The telcos said they wanted an open court hearing on their fresh pleas with regard to working out a fresh schedule of payment of their dues. (Image: Reuters)
8. Moody's On Insurance Premium Collection: Despite low penetration, the ongoing economic slowdown will impact insurance premium collections over the next two to three years, global ratings agency Moody's Investors Service said on Tuesday. The total insurance premium collected slowed down marginally for the year ended March 2019, while the dip in growth was much sharper for general insurance, it said in a report.
8. Moody's On Insurance Premium Collection: Despite low penetration, the ongoing economic slowdown will impact insurance premium collections over the next two to three years, global ratings agency Moody's Investors Service said on Tuesday. The total insurance premium collected slowed down marginally for the year ended March 2019, while the dip in growth was much sharper for general insurance, it said in a report. "We expect India's more moderate economic expansion to result in slower (re)insurance premium growth over the next 2-3 years," the rating agency said in its report. (Image: Reuters)
9. Nielsen On FMCG Industry: The FMCG industry is expected to be 'stable' in 2020 with a growth of around 9 to 10 percent, helped by several macroeconomic factors, including expectations of inflation going down and proactive government policies, according to a report. The FMCG industry registered a growth of 9.7 percent in 2019, which included e-commerce, said data analytics firm Nielsen in the report titled 'India FMCG Growth Snapshot'. The full-year 2020 forecast is stable at 9-10 percent, it added.
9. Nielsen On FMCG Industry: The FMCG industry is expected to be 'stable' in 2020 with a growth of around 9 to 10 percent, helped by several macroeconomic factors, including expectations of inflation going down and proactive government policies, according to a report. The FMCG industry registered a growth of 9.7 percent in 2019, which included e-commerce, said data analytics firm Nielsen in the report titled 'India FMCG Growth Snapshot'. The full-year 2020 forecast is stable at 9-10 percent, it added. "2019 has been a tough year for the FMCG industry with over four-point decline, but we do see it stabilizing in the last quarter of the year." Nielsen Global Connect South Asia Zone President Prasun Basu said. (Image: Reuters)
10. Government Sets Up National Startup Advisory Council: The government on Tuesday said it has set up a National Startup Advisory Council to advise the Centre on measures needed to build a strong ecosystem for nurturing innovation and start-ups in the country. The Council will suggest measures to foster a culture of innovation among students and others, the commerce and industry ministry said in a statement. Further, the ministry said the Council will suggest ways to promote ease of access to capital for start-ups, incentivize domestic capital for investments, mobilize global capital for investments, and keep control of start-ups with original promoters. (Image: Reuters)
10. Government Sets Up National Startup Advisory Council: The government on Tuesday said it has set up a National Startup Advisory Council to advise the Centre on measures needed to build a strong ecosystem for nurturing innovation and start-ups in the country.
The Council will suggest measures to foster a culture of innovation among students and others, the commerce and industry ministry said in a statement. Further, the ministry said the Council will suggest ways to promote ease of access to capital for start-ups, incentivize domestic capital for investments, mobilize global capital for investments, and keep control of start-ups with original promoters. (Image: Reuters)
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