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10 things you need to know before the opening bell on January 23

Updated : 2020-01-23 09:08:40

The Indian market is likely to open on a steady note on Thursday as global markets traded flat as investors were cautious amid a mysterious pneumonia-like coronavirus spreading in and around China. At 7:10 pm, the SGX Nifty was trading at 12,139.50, up 0.50 points or 0.01 percent, indicating a flat start for the Sensex and Nifty50.

1. Asia: Stocks in Asia declined in Thursday morning trade as the death toll rises in China due to a mysterious pneumonia-like virus. The Nikkei 225 in Japan slipped 0.75 percent in early trade while the Topix index also shed 0.54 percent. South Korea’s Kospi also saw losses as it declined 0.52 percent. Meanwhile, shares in Australia declined in morning trade, with the S&P/ASX 200 falling about 0.3 percent. (Image: Reuters)
1. Asia: Stocks in Asia declined in Thursday morning trade as the death toll rises in China due to a mysterious pneumonia-like virus. The Nikkei 225 in Japan slipped 0.75 percent in early trade while the Topix index also shed 0.54 percent. South Korea’s Kospi also saw losses as it declined 0.52 percent. Meanwhile, shares in Australia declined in morning trade, with the S&P/ASX 200 falling about 0.3 percent. (Image: Reuters)
2. US: Technology shares led the S&P 500 marginally higher on Wednesday, as a healthy forecast from IBM helped mitigate worries over the developing coronavirus outbreak. The S&P 500 and the Nasdaq closed barely in the black after approaching, then backing down from record highs the day after virus fears prompted a sell-off.  The Dow Jones Industrial Average fell 9.63 points, or 0.03 percent, to 29,186.41, the S&P 500 gained 0.98 points, or 0.03 percent, to 3,321.77 and the Nasdaq Composite added 12.96 points, or 0.14 percent, to 9,383.77. (Image: AP)
2. US: Technology shares led the S&P 500 marginally higher on Wednesday, as a healthy forecast from IBM helped mitigate worries over the developing coronavirus outbreak. The S&P 500 and the Nasdaq closed barely in the black after approaching, then backing down from record highs the day after virus fears prompted a sell-off.  The Dow Jones Industrial Average fell 9.63 points, or 0.03 percent, to 29,186.41, the S&P 500 gained 0.98 points, or 0.03 percent, to 3,321.77 and the Nasdaq Composite added 12.96 points, or 0.14 percent, to 9,383.77. (Image: AP)
3. Markets At Close On Wednesday: Domestic equity benchmark indices BSE Sensex and NSE Nifty50 ended Wednesday's trade sharply lower dragged by bank, auto, and energy shares. Trade sentiment remained cautious ahead of the third-quarter results of bluechips.  The BSE Sensex ended 208 points lower, or 0.50 percent, at 41,115. The NSE Nifty50 slipped 61 points, or 0.51 percent, to settle Wednesday's trade at 12,108. Meanwhile, foreign institutional investors sold Rs 176 crore in the cash market while the domestic institutional investors sold Rs 326 crore. (Image: Reuters)
3. Markets At Close On Wednesday: Domestic equity benchmark indices BSE Sensex and NSE Nifty50 ended Wednesday's trade sharply lower dragged by bank, auto, and energy shares. Trade sentiment remained cautious ahead of the third-quarter results of bluechips.  The BSE Sensex ended 208 points lower, or 0.50 percent, at 41,115. The NSE Nifty50 slipped 61 points, or 0.51 percent, to settle Wednesday's trade at 12,108. Meanwhile, foreign institutional investors sold Rs 176 crore in the cash market while the domestic institutional investors sold Rs 326 crore. (Image: Reuters)
4. Crude Oil: Oil prices fell more than 2% on Wednesday as a market surplus forecast by the International Energy Agency (IEA) and demand worries amid the outbreak of a virus in China outweighed concern over disruptions to Libya's crude output. Brent crude ended the session down $1.38, or 2.1 percent, at $63.21 while West Texas Intermediate fell $1.64, or 2.8 percent, to settle at $56.74. (Image: Reuters)
4. Crude Oil: Oil prices fell more than 2% on Wednesday as a market surplus forecast by the International Energy Agency (IEA) and demand worries amid the outbreak of a virus in China outweighed concern over disruptions to Libya's crude output. Brent crude ended the session down $1.38, or 2.1 percent, at $63.21 while West Texas Intermediate fell $1.64, or 2.8 percent, to settle at $56.74. (Image: Reuters)
5. Rupee Close: The rupee strengthened by 2 paise to settle at 71.19 against the US dollar on Wednesday amid easing crude oil prices. Forex traders said strengthening of the American currency and weak domestic equities dragged the local unit, however easing crude prices supported the rupee and restricted the fall. The next trigger for the domestic currency will be the Union Budget and RBI Monetary policy, they said. At the interbank foreign exchange market, the local currency opened on a positive note at 71.17. During the day, it saw a high of 71.16 and a low of 71.24. (Image: Reuters)
5. Rupee Close: The rupee strengthened by 2 paise to settle at 71.19 against the US dollar on Wednesday amid easing crude oil prices. Forex traders said strengthening of the American currency and weak domestic equities dragged the local unit, however easing crude prices supported the rupee and restricted the fall. The next trigger for the domestic currency will be the Union Budget and RBI Monetary policy, they said. At the interbank foreign exchange market, the local currency opened on a positive note at 71.17. During the day, it saw a high of 71.16 and a low of 71.24. (Image: Reuters)
6. SEBI On Portfolio Managers Norms: Markets regulator Sebi has notified norms governing portfolio managers, under which the minimum investment limit for investors has been doubled to Rs 50 lakh, and the managers have been directed to increase their net worth to Rs 5 crore within three years. The move is part of Sebi's efforts to keep retail investors away from portfolio management schemes as well as to curb mis-selling and weed out non-serious players. In a notification, the regulator said it has amended Sebi (Portfolio Managers) Regulations, to enhance the eligibility criteria and define the role of principal officer clearly. (Image: Reuters)
6. SEBI On Portfolio Managers Norms: Markets regulator Sebi has notified norms governing portfolio managers, under which the minimum investment limit for investors has been doubled to Rs 50 lakh, and the managers have been directed to increase their net worth to Rs 5 crore within three years. The move is part of Sebi's efforts to keep retail investors away from portfolio management schemes as well as to curb mis-selling and weed out non-serious players. In a notification, the regulator said it has amended Sebi (Portfolio Managers) Regulations, to enhance the eligibility criteria and define the role of principal officer clearly. (Image: Reuters)
7. Nitin Gadkari Reviews Highway Projects: Road Transport and Highways Minister Nitin Gadkari will review road projects worth Rs 3 lakh crore on Thursday and Friday with a view to fast track highway projects, the government said. The meeting will serve as an important platform for ironing out issues and exploring ways forward for pending projects and help in expediting their implementation.
7. Nitin Gadkari Reviews Highway Projects: Road Transport and Highways Minister Nitin Gadkari will review road projects worth Rs 3 lakh crore on Thursday and Friday with a view to fast track highway projects, the government said. The meeting will serve as an important platform for ironing out issues and exploring ways forward for pending projects and help in expediting their implementation. "The progress of about 500 projects, especially struck/delay projects, will be taken up during the meeting. These projects involve a cost of about Rs 3 lakh crore," Ministry of Road Transport and Highways said in a statement on Wednesday. (Image: Reuters)
8. SEBI On Stock Exchanges: Sebi put in place a stricter mechanism to deal with non-compliance of listing conditions under which stock exchanges will have powers to slap penalties up to Rs 50,000 for certain violations. The bourses can levy a fine of Rs 25,000 each in cases of non-disclosure of dividend distribution policy in annual reports and on the websites of the entities. The new framework would come into force with effect from compliance periods ending on or after March 31, 2020. (Image: Reuters)
8. SEBI On Stock Exchanges: Sebi put in place a stricter mechanism to deal with non-compliance of listing conditions under which stock exchanges will have powers to slap penalties up to Rs 50,000 for certain violations. The bourses can levy a fine of Rs 25,000 each in cases of non-disclosure of dividend distribution policy in annual reports and on the websites of the entities. The new framework would come into force with effect from compliance periods ending on or after March 31, 2020. (Image: Reuters)
9. SEBI Streamlines Rights Issue Process: To streamline the process and reduce the time taken for rights issues by companies, Sebi on Wednesday cut down the period for advance notice given to stock exchanges to three days from the current seven days. The regulator said it has simplified the rights issue process to make it more efficient and effective. Under the new framework, the period for advance notice to stock exchange has been reduced from at least seven working days to at least three working days (excluding the date of intimation and the record date), for the purpose of rights issue. Besides, the regulator said that issuance of newspaper advertisement disclosing date of completion of dispatch and intimation of same to the exchanges for dissemination on their websites, will be completed at least two days before the date of opening of the issue.
9. SEBI Streamlines Rights Issue Process: To streamline the process and reduce the time taken for rights issues by companies, Sebi on Wednesday cut down the period for advance notice given to stock exchanges to three days from the current seven days.
The regulator said it has simplified the rights issue process to make it more efficient and effective. Under the new framework, the period for advance notice to stock exchange has been reduced from at least seven working days to at least three working days (excluding the date of intimation and the record date), for the purpose of rights issue. Besides, the regulator said that issuance of newspaper advertisement disclosing date of completion of dispatch and intimation of same to the exchanges for dissemination on their websites, will be completed at least two days before the date of opening of the issue.
10. Government On GST Cut-off Date: In a major relief for small traders with an annual turnover of Rs 5 crore or less, the government on Wednesday announced the extension of the cut-off date for filing monthly GST returns by up to 4 days. While the return filing date for firms with an annual turnover of Rs 5 crore or more would remain the 20th of every month, the deadline for those with turnover of less than Rs 5 crore has been staggered. The Ministry said that the decision had been taken in the wake of difficulties faced by the taxpayers regarding filing of GSTR-3B and other returns. (Stock Image)
10. Government On GST Cut-off Date: In a major relief for small traders with an annual turnover of Rs 5 crore or less, the government on Wednesday announced the extension of the cut-off date for filing monthly GST returns by up to 4 days. While the return filing date for firms with an annual turnover of Rs 5 crore or more would remain the 20th of every month, the deadline for those with turnover of less than Rs 5 crore has been staggered. The Ministry said that the decision had been taken in the wake of difficulties faced by the taxpayers regarding filing of GSTR-3B and other returns. (Stock Image)
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