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10 things you need to know before the opening bell on November 17

Updated : 2020-11-17 08:03:03

The Indian market is likely to open at a record level on Tuesday as hopes of a COVID-19 vaccine boosted investor sentiment, lifting global markets. At 7:10 am, the SGX Nifty was trading 42.00 points or 0.33 percent higher at 12,878.00, indicating a positive start for the Sensex and Nifty50.

1. Asia: Asia-Pacific shares were mostly in positive territory on Tuesday as vaccine hopes once again lifted Wall Street to record highs. In Japan, the Nikkei 225 rose 0.42 percent, after touching a 52-week high on Monday. The Topix was above the flatline in early trade. Over in Australia, the S&P/ASX 200 edged up 0.44 percent. The bourse resumed trading on Tuesday after a nearly full-day trading halt Monday that it said was due to a software issue which created “inaccurate market data.” South Korea’s Kospi was flat. Overall, MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.11 percent, reported CNBC International. (Image: Reuters)
1. Asia: Asia-Pacific shares were mostly in positive territory on Tuesday as vaccine hopes once again lifted Wall Street to record highs. In Japan, the Nikkei 225 rose 0.42 percent, after touching a 52-week high on Monday. The Topix was above the flatline in early trade. Over in Australia, the S&P/ASX 200 edged up 0.44 percent. The bourse resumed trading on Tuesday after a nearly full-day trading halt Monday that it said was due to a software issue which created “inaccurate market data.” South Korea’s Kospi was flat. Overall, MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.11 percent, reported CNBC International. (Image: Reuters)
2. US: U.S. stock futures were little changed on Monday night after two of the three major market benchmarks closed at record levels. Dow Jones Industrial Average futures slipped 44 points, or 0.1 percent. S&P 500 futures dipped 0.1 percent. Nasdaq 100 futures outperformed, rising 0.4 percent, reported CNBC International. (Image: AP)
2. US: U.S. stock futures were little changed on Monday night after two of the three major market benchmarks closed at record levels. Dow Jones Industrial Average futures slipped 44 points, or 0.1 percent. S&P 500 futures dipped 0.1 percent. Nasdaq 100 futures outperformed, rising 0.4 percent, reported CNBC International. (Image: AP)
3. Closing Bell On Saturday: Investors booked profits during the muhurat trading session on Saturday. The Sensex closed 194 points higher at 43,637.98 while the Nifty50 index closed at 12,770.6, up 51 points. All sectoral indices ended in the green, with Nifty IT as the best-performing index during the session. BPCL, Indian Oil Corporation, Tata Motors, HDFC Life and Sun Pharma were the best-performing stocks of the Nifty50. (Image: Reuters)
3. Closing Bell On Saturday: Investors booked profits during the muhurat trading session on Saturday. The Sensex closed 194 points higher at 43,637.98 while the Nifty50 index closed at 12,770.6, up 51 points. All sectoral indices ended in the green, with Nifty IT as the best-performing index during the session. BPCL, Indian Oil Corporation, Tata Motors, HDFC Life and Sun Pharma were the best-performing stocks of the Nifty50. (Image: Reuters)
4. Crude Oil: Oil prices jumped 3 percent on Monday, recouping the previous session’s losses after Moderna Inc said its experimental vaccine was 94.5 percent effective in preventing COVID-19. Brent crude futures for January were up $1.02, or 2.4 percent, to $43.80 a barrel, while U.S. West Texas Intermediate crude for December settled $1.21, or 3.02 percent, higher at $41.34 per barrel, reported CNBC International. (Image: Reuters)
4. Crude Oil: Oil prices jumped 3 percent on Monday, recouping the previous session’s losses after Moderna Inc said its experimental vaccine was 94.5 percent effective in preventing COVID-19. Brent crude futures for January were up $1.02, or 2.4 percent, to $43.80 a barrel, while U.S. West Texas Intermediate crude for December settled $1.21, or 3.02 percent, higher at $41.34 per barrel, reported CNBC International. (Image: Reuters)
5. Rupee: The rupee settled on a flat note at 74.62 against the US dollar on Friday as importers and banks' demand for the greenback continued to exert pressure on the Indian currency. The local unit finally closed at 74.62 against the American currency, registering a rise of 2 paise over its previous close of 74.64. (Image: Reuters)
5. Rupee: The rupee settled on a flat note at 74.62 against the US dollar on Friday as importers and banks' demand for the greenback continued to exert pressure on the Indian currency. The local unit finally closed at 74.62 against the American currency, registering a rise of 2 paise over its previous close of 74.64. (Image: Reuters)
6. Moderna On COVID Vaccine: US-based biotechnology firm Moderna Inc on Monday said its vaccine candidate has been found to be 94.5 percent effective in preventing COVID-19, based on Phase 3 trials. This comes just a week after Pfizer Inc and BioNTech SE announced that their vaccine candidate was more than 90 percent effective in preventing COVID-19. “...the independent, NIH-appointed Data Safety Monitoring Board (DSMB) for the Phase 3 study of mRNA-1273, its vaccine candidate against COVID-19, has informed Moderna that the trial has met the statistical criteria pre-specified in the study protocol for efficacy, with a vaccine efficacy of 94.5 percent,” the company said in a statement. This study, known as the COVE study, enrolled more than 30,000 participants in the US, it added. (Image: Reuters)
6. Moderna On COVID Vaccine: US-based biotechnology firm Moderna Inc on Monday said its vaccine candidate has been found to be 94.5 percent effective in preventing COVID-19, based on Phase 3 trials. This comes just a week after Pfizer Inc and BioNTech SE announced that their vaccine candidate was more than 90 percent effective in preventing COVID-19. “...the independent, NIH-appointed Data Safety Monitoring Board (DSMB) for the Phase 3 study of mRNA-1273, its vaccine candidate against COVID-19, has informed Moderna that the trial has met the statistical criteria pre-specified in the study protocol for efficacy, with a vaccine efficacy of 94.5 percent,” the company said in a statement. This study, known as the COVE study, enrolled more than 30,000 participants in the US, it added. (Image: Reuters)
7. WPI Inflation At 8-month High: The wholesale price-based inflation rose to an eight-month high of 1.48 percent in October, as manufactured products turned costlier. The WPI inflation was 1.32 percent in September and zero percent in October last year. This is the highest level of Wholesale price index-based (WPI) inflation since February when it was 2.26 percent. While food article prices softened in October, manufactured items witnessed hardening of prices, according to data released by the commerce and industry ministry on Monday. Food inflation in October stood at 6.37 percent, as against 8.17 percent in the previous month. The rate of price rise in vegetables and potato remained high at 25.23 percent and 107.70 percent, respectively, during the month. (Image: Reuters)
7. WPI Inflation At 8-month High: The wholesale price-based inflation rose to an eight-month high of 1.48 percent in October, as manufactured products turned costlier. The WPI inflation was 1.32 percent in September and zero percent in October last year. This is the highest level of Wholesale price index-based (WPI) inflation since February when it was 2.26 percent. While food article prices softened in October, manufactured items witnessed hardening of prices, according to data released by the commerce and industry ministry on Monday. Food inflation in October stood at 6.37 percent, as against 8.17 percent in the previous month. The rate of price rise in vegetables and potato remained high at 25.23 percent and 107.70 percent, respectively, during the month. (Image: Reuters)
8. 15th Finance Commission Submits Report To PM Modi: The 15th Finance Commission on Monday submitted to Prime Minister Narendra Modi its report on the ratio in which tax is to be divided between the Centre and states over the next five years. The report titled 'Finance Commission in COVID Times' would be submitted to Finance Minister Nirmala Sitharaman on Tuesday. “The Chairman and Members of the 15th Finance Commission today presented a copy of the Commission's report for the period 2021-22 to 2025-26, to Prime Minister Narendra Modi,” an official statement said. On November 9, the Commission had submitted its report to President Ram Nath Kovind. 15th Finance Commission Chairman N K Singh along with members of the commission, Ajay Narayan Jha, Anoop Singh, Ashok Lahiri and Ramesh Chand, were present on the occasion. “The report will be placed on the Table of the House along with Explanatory Memorandum by way of ATR (Action Taken Report) as prescribed under the Constitution,” the statement added. (Image: PTI)
8. 15th Finance Commission Submits Report To PM Modi: The 15th Finance Commission on Monday submitted to Prime Minister Narendra Modi its report on the ratio in which tax is to be divided between the Centre and states over the next five years. The report titled 'Finance Commission in COVID Times' would be submitted to Finance Minister Nirmala Sitharaman on Tuesday. “The Chairman and Members of the 15th Finance Commission today presented a copy of the Commission's report for the period 2021-22 to 2025-26, to Prime Minister Narendra Modi,” an official statement said. On November 9, the Commission had submitted its report to President Ram Nath Kovind. 15th Finance Commission Chairman N K Singh along with members of the commission, Ajay Narayan Jha, Anoop Singh, Ashok Lahiri and Ramesh Chand, were present on the occasion. “The report will be placed on the Table of the House along with Explanatory Memorandum by way of ATR (Action Taken Report) as prescribed under the Constitution,” the statement added. (Image: PTI)
9. Gold Imports Dip 47% In April-October: Gold imports, which have a bearing on the current account deficit, declined 47.42 percent to $9.28 billion during April-October due to fall in demand in the wake of the COVID-19 pandemic, according to data from the Commerce Ministry. Imports of the yellow metal stood at $17.64 billion in the corresponding period of 2019-20. The imports, however, recorded a growth of about 36 percent in October. Silver imports during the period too dipped 64.65 percent to $742 million. Gems and jewellery exports declined by about 49.5 percent to $ 11.61 billion in April-October 2020. (Image: Reuters)
9. Gold Imports Dip 47% In April-October: Gold imports, which have a bearing on the current account deficit, declined 47.42 percent to $9.28 billion during April-October due to fall in demand in the wake of the COVID-19 pandemic, according to data from the Commerce Ministry. Imports of the yellow metal stood at $17.64 billion in the corresponding period of 2019-20. The imports, however, recorded a growth of about 36 percent in October. Silver imports during the period too dipped 64.65 percent to $742 million. Gems and jewellery exports declined by about 49.5 percent to $ 11.61 billion in April-October 2020. (Image: Reuters)
10. Oxford Economics On Indian Economy: The Indian economy is seen recovering faster than expected and the Reserve Bank is likely to have come to an end of the rate easing cycle, according to global forecasting firm Oxford Economics. It further said that inflation is expected to average significantly above 6 percent in the fourth quarter of the current fiscal and the RBI may hold policy rates in December monetary policy review meeting.
10. Oxford Economics On Indian Economy: The Indian economy is seen recovering faster than expected and the Reserve Bank is likely to have come to an end of the rate easing cycle, according to global forecasting firm Oxford Economics. It further said that inflation is expected to average significantly above 6 percent in the fourth quarter of the current fiscal and the RBI may hold policy rates in December monetary policy review meeting. "Consumer inflation rose back to pre-virus highs in October, with almost every broad category other than fuel experiencing a rise in prices. While Q4 is likely to mark the peak for inflation, we have turned more cautious on the trajectory over 2021," it said. Costlier vegetables and eggs pushed up retail inflation to a nearly six-and-a-half-year high of 7.61 percent in October, keeping it significantly above the comfort zone of the Reserve Bank. Retail inflation stood at 7.27 percent in September 2020. (Image: AP)
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