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10 things you need to know before the opening bell on October 15

Updated : 2020-10-15 09:00:21

The Indian market is likely to open on a flat note on Thursday following mixed sentiment in global markets. However, optimism around September quarter earnings may support the investor sentiment. At 8:52 am, the SGX Nifty was trading 4.25 points higher at 11,977.20, indicating a flat start for the Sensex and Nifty50.

1. Asia: Asian markets are trading mixed on Thursday as hopes of U.S. fiscal stimulus before the presidential election faded and a record number of new coronavirus infections in parts of Europe propelled investors toward safe-havens such as gold. Downbeat comments from U.S. Treasury Secretary Steven Mnuchin that a stimulus deal was unlikely be made before the Nov. 3 vote weighed on fragile investor sentiment. Australia's S&P/ASX 200 rose 0.79 percent, while Japan's Nikkei 225 fell 0.46 percent. Hong Kong's Hang Seng index futures were down 1.03 percent. E-mini futures for the S&P 500 were flat, reported Reuters. (Source: Reuters)
1. Asia: Asian markets are trading mixed on Thursday as hopes of U.S. fiscal stimulus before the presidential election faded and a record number of new coronavirus infections in parts of Europe propelled investors toward safe-havens such as gold. Downbeat comments from U.S. Treasury Secretary Steven Mnuchin that a stimulus deal was unlikely be made before the Nov. 3 vote weighed on fragile investor sentiment. Australia's S&P/ASX 200 rose 0.79 percent, while Japan's Nikkei 225 fell 0.46 percent. Hong Kong's Hang Seng index futures were down 1.03 percent. E-mini futures for the S&P 500 were flat, reported Reuters. (Source: Reuters)
2. US: U.S. stock futures were flat on Wednesday night as traders continued to weigh the prospects for a coronavirus aid deal being reached before next month’s election. Dow Jones Industrial Average futures were up just 17 points, or 0.1 percent. S&P 500 futures rose marginally and Nasdaq 100 futures dipped 0.1 percent. Treasury Secretary Steven Mnuchin said on Wednesday that reaching a coronavirus stimulus deal before the election would be difficult as Democrats and Republicans remain far apart on certain issues. The uncertainty surrounding the aid talks led to the market’s second straight daily decline. The Dow slid more than 160 points, or 0.6 percent. The S&P 500 and Nasdaq Composite pulled back by 0.7 percent and 0.8 percent, respectively. Wednesday marked the first time since September that the major indexes posted consecutive daily losses, reported CNBC International. (Image: AP)
2. US: U.S. stock futures were flat on Wednesday night as traders continued to weigh the prospects for a coronavirus aid deal being reached before next month’s election. Dow Jones Industrial Average futures were up just 17 points, or 0.1 percent. S&P 500 futures rose marginally and Nasdaq 100 futures dipped 0.1 percent. Treasury Secretary Steven Mnuchin said on Wednesday that reaching a coronavirus stimulus deal before the election would be difficult as Democrats and Republicans remain far apart on certain issues. The uncertainty surrounding the aid talks led to the market’s second straight daily decline. The Dow slid more than 160 points, or 0.6 percent. The S&P 500 and Nasdaq Composite pulled back by 0.7 percent and 0.8 percent, respectively. Wednesday marked the first time since September that the major indexes posted consecutive daily losses, reported CNBC International. (Image: AP)
3. Market At Close On Wednesday: The Indian benchmark equity indices, Sensex and Nifty recovered from the day's low to end higher Wednesday led by gains in banking and realty stocks. Last-hour gains helped Sensex and Nifty record a 10-day gaining streak for the first time since January 2015. The Sensex ended 169.23 points or 0.42 percent higher at 40,794.74 while the Nifty gained 36.55 points or 0.31 percent to close at 11,971.05. Sensex and Nifty gained 515 points and 149 points respectively from lows. The Nifty Bank saw a recovery of 725 points from lows to close 1.6 percent higher. Broader indices ended mixed with Nifty Smallcap100 gaining 0.26 percent while Nifty Midcap100 ending 0.16 percent lower. (Image: Reuters)
3. Market At Close On Wednesday: The Indian benchmark equity indices, Sensex and Nifty recovered from the day's low to end higher Wednesday led by gains in banking and realty stocks. Last-hour gains helped Sensex and Nifty record a 10-day gaining streak for the first time since January 2015. The Sensex ended 169.23 points or 0.42 percent higher at 40,794.74 while the Nifty gained 36.55 points or 0.31 percent to close at 11,971.05. Sensex and Nifty gained 515 points and 149 points respectively from lows. The Nifty Bank saw a recovery of 725 points from lows to close 1.6 percent higher. Broader indices ended mixed with Nifty Smallcap100 gaining 0.26 percent while Nifty Midcap100 ending 0.16 percent lower. (Image: Reuters)
4. Crude Oil: Oil prices strengthened on Wednesday, as equities also rose and the dollar traded lower, even as concerns loomed that recovery in fuel demand will be stalled by soaring global coronavirus cases. Data from the U.S. Energy Information Administration (EIA) is expected to show crude oil stockpiles moving lower in the latest week, according to analysts polled by Reuters. Brent crude futures for December delivery were up 49 cents, or 1.18 percent, at $42.94 a barrel. West Texas Intermediate futures settled 84 cents, or 2.1 percent, higher at $41.04 per barrel. (Image: Reuters)
4. Crude Oil: Oil prices strengthened on Wednesday, as equities also rose and the dollar traded lower, even as concerns loomed that recovery in fuel demand will be stalled by soaring global coronavirus cases. Data from the U.S. Energy Information Administration (EIA) is expected to show crude oil stockpiles moving lower in the latest week, according to analysts polled by Reuters. Brent crude futures for December delivery were up 49 cents, or 1.18 percent, at $42.94 a barrel. West Texas Intermediate futures settled 84 cents, or 2.1 percent, higher at $41.04 per barrel. (Image: Reuters)
5. Rupee Close: The Indian currency closed lower on Wednesday amidst volatile equity markets. The rupee ended at 73.28 against the US dollar as compared to the Tuesday's close of 73.40. (Image: Reuters)
5. Rupee Close: The Indian currency closed lower on Wednesday amidst volatile equity markets. The rupee ended at 73.28 against the US dollar as compared to the Tuesday's close of 73.40. (Image: Reuters)
6. CEA On Bankruptcy Law Reforms: India's four-year-old Insolvency and Bankruptcy Code (IBC), which has been amended five times since its inception, has scope for further improvements, chief economic advisor (CEA) Krishnamurthy Subramanian on Wednesday said. Speaking at a FICCI seminar on stressed assets, Subramanian said that while India was already seeing stress build-up before the pandemic hit, there was bound to be some stress that will be added due to COVID-19.
6. CEA On Bankruptcy Law Reforms: India's four-year-old Insolvency and Bankruptcy Code (IBC), which has been amended five times since its inception, has scope for further improvements, chief economic advisor (CEA) Krishnamurthy Subramanian on Wednesday said. Speaking at a FICCI seminar on stressed assets, Subramanian said that while India was already seeing stress build-up before the pandemic hit, there was bound to be some stress that will be added due to COVID-19. "Given the stress that had built up in the financial sector before we entered the crisis, we will now have to take care of some stress that will inevitably happen because of COVID-19. The eco-system of creative destruction is a very important part of any economy," he said. Subramanian noted that while IBC is a step in the right direction, "there is scope for making it far more efficient." (Image: PTI)
7. PM Modi Reviews Proposed Ethanol Policy: India is likely to roll out a comprehensive ethanol policy to ensure reduction in dependence on imported crude oil. Sources told CNBC-TV18,
7. PM Modi Reviews Proposed Ethanol Policy: India is likely to roll out a comprehensive ethanol policy to ensure reduction in dependence on imported crude oil. Sources told CNBC-TV18, "Prime Minister Narendra Modi and senior government officials on Tuesday reviewed the current status of various aspects involved for an early roll out of the policy." India imports almost 80 percent of its crude oil requirement. "The proposed ethanol policy will focus on the key features of manufacturing, sale, utilisation and blending, with an aim to achieve 20 percent blending target by 2030," sources said. The policy will propose a roadmap, which would "increase blending by states from 5 percent to 12-15 percent by 2026, and then it'll be increased to 20 percent by 2030." Currently, India mandates 5 percent of ethanol blending. (Image: PTI)
8. WPI Inflation Rises To 1.32% In September: The wholesale price-based inflation rose to 1.32 percent in September mainly on the back of costlier food articles. ”The annual rate of inflation, based on monthly WPI, stood at 1.32 percent (provisional) for the month of September 2020 (over September 2019) as compared to 0.33 percent during the corresponding month of the previous year,” government data showed on Wednesday. The wholesale price-based inflation stood at 0.16 percent in August. The wholesale price index-based (WPI) inflation was in the negative territory for four straight months — April (-) 1.57 percent, May (-) 3.37 percent, June (-) 1.81 percent and July (-) 0.58 percent. (Image: Reuters)
8. WPI Inflation Rises To 1.32% In September: The wholesale price-based inflation rose to 1.32 percent in September mainly on the back of costlier food articles. ”The annual rate of inflation, based on monthly WPI, stood at 1.32 percent (provisional) for the month of September 2020 (over September 2019) as compared to 0.33 percent during the corresponding month of the previous year,” government data showed on Wednesday. The wholesale price-based inflation stood at 0.16 percent in August. The wholesale price index-based (WPI) inflation was in the negative territory for four straight months — April (-) 1.57 percent, May (-) 3.37 percent, June (-) 1.81 percent and July (-) 0.58 percent. (Image: Reuters)
9. IMF Official On Indian Economy Recovery: The Indian economy, severely hit by the coronavirus pandemic, would be well placed to start recovering from the horrible crisis with the government making efforts on both the fiscal and monetary side in addition to putting in place structural elements, a top IMF official has said. The International Monetary Fund in its annual World Economic Outlook significantly downgrades India’s growth for the fiscal year 2020 to minus 10.3 percent. At the same time, IMF said that India is likely to bounce back with an impressive 8.8 percent growth rate in 2021, but for this New Delhi needs to ramp up its efforts in various fields. In terms of what can be done going forward, clearly on the fiscal side, the IMF believes there is more that can be done to provide support to households and firms that have been affected by the pandemic, Malhar Shyam Nabar, Division Chief, Research Department, IMF, told reporters on Tuesday at a news conference here on the eve of the annual meetings of the IMF and the World Bank. (Image: Reuters)
9. IMF Official On Indian Economy Recovery: The Indian economy, severely hit by the coronavirus pandemic, would be well placed to start recovering from the horrible crisis with the government making efforts on both the fiscal and monetary side in addition to putting in place structural elements, a top IMF official has said. The International Monetary Fund in its annual World Economic Outlook significantly downgrades India’s growth for the fiscal year 2020 to minus 10.3 percent. At the same time, IMF said that India is likely to bounce back with an impressive 8.8 percent growth rate in 2021, but for this New Delhi needs to ramp up its efforts in various fields. In terms of what can be done going forward, clearly on the fiscal side, the IMF believes there is more that can be done to provide support to households and firms that have been affected by the pandemic, Malhar Shyam Nabar, Division Chief, Research Department, IMF, told reporters on Tuesday at a news conference here on the eve of the annual meetings of the IMF and the World Bank. (Image: Reuters)
10. Residential Sales Bounce Back: In what can be considered as a sharp recovery for the real estate sector, research reports suggest that India’s eight prime residential markets saw an increase of 85 percent in the residential sales in the July-September quarter as against the performance in the April-June quarter in the current calendar year. According to the Real Insight Q3 2020 report by online real estate brokerage firm PropTiger.com, the quarterly analysis of India’s eight prime residential markets show that the residential home sales aggregated to 35,132 units during Q3 of the current calendar year, marking an increase of 85 percent over the previous quarter. The report said the housing units in the sub-Rs 45 lakh price bracket, categorised as the affordable housing segment under income tax laws in India, made the biggest contribution to sales during the quarter, contributing 45 percent to overall sales numbers. (Image: Reuters)
10. Residential Sales Bounce Back: In what can be considered as a sharp recovery for the real estate sector, research reports suggest that India’s eight prime residential markets saw an increase of 85 percent in the residential sales in the July-September quarter as against the performance in the April-June quarter in the current calendar year. According to the Real Insight Q3 2020 report by online real estate brokerage firm PropTiger.com, the quarterly analysis of India’s eight prime residential markets show that the residential home sales aggregated to 35,132 units during Q3 of the current calendar year, marking an increase of 85 percent over the previous quarter. The report said the housing units in the sub-Rs 45 lakh price bracket, categorised as the affordable housing segment under income tax laws in India, made the biggest contribution to sales during the quarter, contributing 45 percent to overall sales numbers. (Image: Reuters)
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