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10 things you need to know before the opening bell on January 28

Updated : 2020-01-28 08:02:29

Indian share markets are expected to open unchanged on Tuesday following a global selloff after investors remain concerned over coronavirus spreading across the world. At 7:03 am, the SGX Nifty was trading 5.50 points or 0.05 percent lower at 12,110.50, indicating at a tepid start for the Sensex and Nifty50.

1. Asia: Asian shares slipped again on Tuesday as China took more drastic steps to combat the coronavirus, while bond yields fell globally on expectations central banks would need to keep stimulus flowing to offset the likely economic drag. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.4 percent lower in early Asian trading on Tuesday. Australian shares stumbled nearly 1 percent. (Image: AP)
1. Asia: Asian shares slipped again on Tuesday as China took more drastic steps to combat the coronavirus, while bond yields fell globally on expectations central banks would need to keep stimulus flowing to offset the likely economic drag. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.4 percent lower in early Asian trading on Tuesday. Australian shares stumbled nearly 1 percent. (Image: AP)
2. US: US stocks suffered their worst day in over three months on Monday as China extended the Lunar New Year holiday due to a virus outbreak, fuelling worries about the economic impact of containment efforts in the world's second-largest economy. The Dow Jones Industrial Average fell 453.93 points, or 1.57 percent, to 28,535.8, the S&P 500 lost 51.84 points, or 1.57 percent, to 3,243.63 and the Nasdaq Composite dropped 175.60 points, or 1.89 percent, to 9,139.31. (Image: AP)
2. US: US stocks suffered their worst day in over three months on Monday as China extended the Lunar New Year holiday due to a virus outbreak, fuelling worries about the economic impact of containment efforts in the world's second-largest economy. The Dow Jones Industrial Average fell 453.93 points, or 1.57 percent, to 28,535.8, the S&P 500 lost 51.84 points, or 1.57 percent, to 3,243.63 and the Nasdaq Composite dropped 175.60 points, or 1.89 percent, to 9,139.31. (Image: AP)
3. Markets At Close On Monday: Indian shares ended over 1 percent lower on Monday, following Asian peers, mainly dragged down by metals stocks, as fears about the economic impact of coronavirus outbreak curbed risk appetite. The Sensex settled 458 points lower at 41,155, while Nifty ended 129 points lower at 12,119. Meanwhile, foreign institutional investors sold Rs 439 crore in the cash market while the domestic institutional investors bought Rs 11 crore.  (Image: Reuters)
3. Markets At Close On Monday: Indian shares ended over 1 percent lower on Monday, following Asian peers, mainly dragged down by metals stocks, as fears about the economic impact of coronavirus outbreak curbed risk appetite. The Sensex settled 458 points lower at 41,155, while Nifty ended 129 points lower at 12,119. Meanwhile, foreign institutional investors sold Rs 439 crore in the cash market while the domestic institutional investors bought Rs 11 crore.  (Image: Reuters)
4. Crude Oil: Crude futures dropped 2 percent to three-month lows on Monday as the death toll from China's coronavirus grew, curtailing travel and fuelling expectations of slowing oil demand. Brent crude settled at $59.32 a barrel, losing $1.37, or 2.3 percent, its lowest since October 21. U.S. crude settled at $53.14 a barrel, was down $1.05, or 1.9 percent, its lowest since October 2. (Image: Reuters)
4. Crude Oil: Crude futures dropped 2 percent to three-month lows on Monday as the death toll from China's coronavirus grew, curtailing travel and fuelling expectations of slowing oil demand. Brent crude settled at $59.32 a barrel, losing $1.37, or 2.3 percent, its lowest since October 21. U.S. crude settled at $53.14 a barrel, was down $1.05, or 1.9 percent, its lowest since October 2. (Image: Reuters)
5. Rupee Close: The rupee weakened by 10 paise to close at 71.43 against the US currency on Monday, extending losses for a third straight session, amid fast-spreading coronavirus outbreak in China stoking fears about more trouble for the global economy. The domestic currency has lost 24 paise in the last three trading sessions. At the interbank foreign exchange market on Monday, the rupee opened on a weak note at 71.51. During the day, the local unit reclaimed some lost ground and finally settled for the day at 71.43 against the US dollar, down 10 paise over its previous close. (Image: Reuters)
5. Rupee Close: The rupee weakened by 10 paise to close at 71.43 against the US currency on Monday, extending losses for a third straight session, amid fast-spreading coronavirus outbreak in China stoking fears about more trouble for the global economy. The domestic currency has lost 24 paise in the last three trading sessions. At the interbank foreign exchange market on Monday, the rupee opened on a weak note at 71.51. During the day, the local unit reclaimed some lost ground and finally settled for the day at 71.43 against the US dollar, down 10 paise over its previous close. (Image: Reuters)
6. India Asks Qatar To Lower Gas Price: India on Monday pressed its largest LNG supplier Qatar to lower the price of gas under the existing long-term supply contracts, a request that Doha turned down saying sanctity of contracts is important for the credibility of both sides. Landed price of liquefied natural gas (LNG) comes to USD 9-10 per million British thermal unit while the same gas is available in the spot or current market at half the rate. Oil minister Dharmendra Pradhan met Qatar energy minister Saad Sherida al-Kaabi to press for the
6. India Asks Qatar To Lower Gas Price: India on Monday pressed its largest LNG supplier Qatar to lower the price of gas under the existing long-term supply contracts, a request that Doha turned down saying sanctity of contracts is important for the credibility of both sides. Landed price of liquefied natural gas (LNG) comes to USD 9-10 per million British thermal unit while the same gas is available in the spot or current market at half the rate.
Oil minister Dharmendra Pradhan met Qatar energy minister Saad Sherida al-Kaabi to press for the "need for realignment of existing long-term LNG contracts with the market to suit the affordability of end consumers". Talking to reporters after the meeting, Pradhan said the pricing of gas as a percentage of prevailing oil prices tends to inflate the price of the environment-friendly fuel, and alternate independent benchmarks need to be developed. (Image: Reuters)
7. SEBI On Related-Party Transaction Norms: A Sebi-appointed panel has proposed sweeping changes to strengthen the monitoring and enforcement of norms pertaining to related party transactions. Tweaking the definition of Related Party and Related Party Transactions (RPTs) and revising thresholds for classification of such transactions as material, are among the recommendations. Also, the committee has proposed changes to the process followed by a company's audit committee for approval of RPTs that are material. Further, a format for reporting of RPTs to the stock exchanges has been mooted. (Image: Reuters)
7. SEBI On Related-Party Transaction Norms: A Sebi-appointed panel has proposed sweeping changes to strengthen the monitoring and enforcement of norms pertaining to related party transactions. Tweaking the definition of Related Party and Related Party Transactions (RPTs) and revising thresholds for classification of such transactions as material, are among the recommendations. Also, the committee has proposed changes to the process followed by a company's audit committee for approval of RPTs that are material. Further, a format for reporting of RPTs to the stock exchanges has been mooted. (Image: Reuters)
8. SEBI Rationalises Margin For Commodity Derivatives: Markets regulator Sebi on Monday rationalized margin framework for the commodity derivatives segment, wherein clearing corporations will have to categorize commodities as per their realized volatility. In addition, clearing corporations have been asked to prescribe floor values of initial margin as well as margin period of risk (MPOR) depending upon their categories, the Securities and Exchange Board of India (Sebi) said in a circular. Given the wide variation of liquidity and volatility among different commodity derivatives, the regulator in consultation with other stakeholders has decided to rationalize the margin system. Under the framework, clearing corporations (CCs) have been asked to categorize their commodities into three categories of volatility—low, medium and high—based on the realized volatility for the past three years. (Image: Reuters)
8. SEBI Rationalises Margin For Commodity Derivatives: Markets regulator Sebi on Monday rationalized margin framework for the commodity derivatives segment, wherein clearing corporations will have to categorize commodities as per their realized volatility. In addition, clearing corporations have been asked to prescribe floor values of initial margin as well as margin period of risk (MPOR) depending upon their categories, the Securities and Exchange Board of India (Sebi) said in a circular. Given the wide variation of liquidity and volatility among different commodity derivatives, the regulator in consultation with other stakeholders has decided to rationalize the margin system. Under the framework, clearing corporations (CCs) have been asked to categorize their commodities into three categories of volatility—low, medium and high—based on the realized volatility for the past three years. (Image: Reuters)
9. Government To Raise CPSE ETF's 7th Tranche: The government is planning to raise at least Rs 10,000 crore through the seventh tranche of CPSE ETF which will open for anchor investors on Thursday. Central Public Sector Enterprises ETF runs a concentrated portfolio with a handful of stocks having weights of as high as 20 percent on the underlying index. The portfolio is concentrated on the energy and oil sector. The issue will open for anchor investors on Thursday and for other institutional and retail investors, the next day-- Nippon Life India Asset Management-- which has been mandated to manage the CPSE ETF on behalf of the government, said in a statement. Besides, the investors would get a 3 percent discount over the issue price, it added. (Stock Image)
9. Government To Raise CPSE ETF's 7th Tranche: The government is planning to raise at least Rs 10,000 crore through the seventh tranche of CPSE ETF which will open for anchor investors on Thursday. Central Public Sector Enterprises ETF runs a concentrated portfolio with a handful of stocks having weights of as high as 20 percent on the underlying index. The portfolio is concentrated on the energy and oil sector. The issue will open for anchor investors on Thursday and for other institutional and retail investors, the next day-- Nippon Life India Asset Management-- which has been mandated to manage the CPSE ETF on behalf of the government, said in a statement. Besides, the investors would get a 3 percent discount over the issue price, it added. (Stock Image)
10. Abhijit Banerjee On Banking Sector: Nobel laureate and economist Abhijit Banerjee here on Sunday said the banking sector in the country is
10. Abhijit Banerjee On Banking Sector: Nobel laureate and economist Abhijit Banerjee here on Sunday said the banking sector in the country is "stressed" and the government is in no position to bail it out. Speaking to the media on the sidelines of the 13th Jaipur Literature Festival, Banerjee said the demand slowdown in the automobile sector also shows that people are lacking confidence in the economy. "Financial sector is the biggest stress point currently. There is no question that the finance sector is something we should worry about, the banking sector is stressed. The government really is not in a position to bail it out, so we are talking about a long process of attrition, that's going to be costly" said Banerjee. (Image: Reuters)
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