• SENSEX
    NIFTY 50
Market

10 things you need to know before the opening bell on October 24

Updated : 2019-10-24 08:07:16

Indian shares are set for a positive start today tracking strong trades in Asia. At 7.45 AM, the SGX Nifty futures traded 30.50 points, or 0.26 percent higher at 11,669, indicating a strong start for the Sensex and the Nifty 50.

1. Asia: Asian shares pulled ahead on Thursday with corporate earnings buffeting trading as investors remained anxious about the business impact of the Sino-U.S. trade war while Brexit uncertainties kept overall sentiment in check, reported Reuters. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 percent with Japan's Nikkei up 0.5 percent at a one-year high. Australian shares climbed 0.5 percent while South Korea's KOSPI inched 0.4 percent higher. (Image: AP)
1. Asia: Asian shares pulled ahead on Thursday with corporate earnings buffeting trading as investors remained anxious about the business impact of the Sino-U.S. trade war while Brexit uncertainties kept overall sentiment in check, reported Reuters. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 percent with Japan's Nikkei up 0.5 percent at a one-year high. Australian shares climbed 0.5 percent while South Korea's KOSPI inched 0.4 percent higher. (Image: AP)
2. US: U.S. stocks edged higher on Wednesday as investors shrugged off lackluster quarterly reports from industrial bellwethers Boeing Co and Caterpillar Inc, though a lower-than-expected revenue outlook from Texas Instruments Inc sent chipmakers' shares lower, reported Reuters. The Dow Jones Industrial Average rose 45.85 points, or 0.17 percent, to 26,833.95, the S&P 500 gained 8.53 points, or 0.28 percent, to 3,004.52 and the Nasdaq Composite added 15.50 points, or 0.19 percent, to 8,119.79. (Image: AP)
2. US: U.S. stocks edged higher on Wednesday as investors shrugged off lackluster quarterly reports from industrial bellwethers Boeing Co and Caterpillar Inc, though a lower-than-expected revenue outlook from Texas Instruments Inc sent chipmakers' shares lower, reported Reuters. The Dow Jones Industrial Average rose 45.85 points, or 0.17 percent, to 26,833.95, the S&P 500 gained 8.53 points, or 0.28 percent, to 3,004.52 and the Nasdaq Composite added 15.50 points, or 0.19 percent, to 8,119.79. (Image: AP)
3. Markets At Close On Wednesday: Equity benchmarks BSE Sensex and NSE Nifty ended Wednesday's trade with marginal gains led largely by banks and financials. But weakness in index heavyweight Reliance Industries and Kotak Mahindra Bank limited gains. The BSE Sensex settled 95 points higher, or 0.24 percent, at 39,058, while the NSE Nifty50 closed at 11,604, up just 16 points, or 0.14 percent.  Nifty PSU Bank was the biggest winner, rising 2.07 percent. Meanwhile, foreign institutional investors sold 213 crores in the cash market while sold 137 crores. (Image: Reuters)
3. Markets At Close On Wednesday: Equity benchmarks BSE Sensex and NSE Nifty ended Wednesday's trade with marginal gains led largely by banks and financials. But weakness in index heavyweight Reliance Industries and Kotak Mahindra Bank limited gains. The BSE Sensex settled 95 points higher, or 0.24 percent, at 39,058, while the NSE Nifty50 closed at 11,604, up just 16 points, or 0.14 percent.  Nifty PSU Bank was the biggest winner, rising 2.07 percent. Meanwhile, foreign institutional investors sold 213 crores in the cash market while sold 137 crores. (Image: Reuters)
4. Crude Oil Prices: Oil prices dipped on Thursday on lingering concerns about a weak demand outlook, after surging more than 2 percent in the previous session on the back of a surprise draw in U.S. crude stocks. Brent crude futures fell 39 cents, or 0.6 percent, to $60.78 a barrel by 0111 GMT. The international benchmark crude rose 2.5 percent on Wednesday to settle at $61.17 a barrel, levels not seen since Sept. 30. West Texas Intermediate (WTI) crude futures dropped 46 cents, or 0.8 percent, to $55.51 per barrel. U.S. crude closed 3.3 percent higher in the previous session. U.S. crude inventories fell 1.7 million barrels in the week ended Oct. 18, compared with analysts' expectations for a 2.2 million barrel build, data from the Energy Information Administration showed. (Image: Reuters)
4. Crude Oil Prices: Oil prices dipped on Thursday on lingering concerns about a weak demand outlook, after surging more than 2 percent in the previous session on the back of a surprise draw in U.S. crude stocks. Brent crude futures fell 39 cents, or 0.6 percent, to $60.78 a barrel by 0111 GMT. The international benchmark crude rose 2.5 percent on Wednesday to settle at $61.17 a barrel, levels not seen since Sept. 30. West Texas Intermediate (WTI) crude futures dropped 46 cents, or 0.8 percent, to $55.51 per barrel. U.S. crude closed 3.3 percent higher in the previous session. U.S. crude inventories fell 1.7 million barrels in the week ended Oct. 18, compared with analysts' expectations for a 2.2 million barrel build, data from the Energy Information Administration showed. (Image: Reuters)
5. Currency: The Indian rupee rose 3 paise to close at 70.91 against the US dollar on Wednesday amid lack of triggers and geopolitical uncertainties. Easing crude oil prices propped up the local unit, though fresh capital outflows capped the gains, forex traders said. Trading in emerging market currencies was subdued after British Prime Minister Boris Johnson lost the crucial Brexit Bill timetable vote. Besides, markets are also awaiting fresh cues on the potential US-China trade deal, they added. (Image: Shutterstock)
5. Currency: The Indian rupee rose 3 paise to close at 70.91 against the US dollar on Wednesday amid lack of triggers and geopolitical uncertainties. Easing crude oil prices propped up the local unit, though fresh capital outflows capped the gains, forex traders said. Trading in emerging market currencies was subdued after British Prime Minister Boris Johnson lost the crucial Brexit Bill timetable vote. Besides, markets are also awaiting fresh cues on the potential US-China trade deal, they added. (Image: Shutterstock)
6. S&P On The Financial Sector: Indian financial sector is facing the rising risk of contagion and failure of any large finance company will adversely impact economic growth, S&P Global Ratings said in a report on Wednesday. According to the report, a bank failure could disrupt the interbank market, payments, hurt credit availability and adversely affect economic growth.
6. S&P On The Financial Sector: Indian financial sector is facing the rising risk of contagion and failure of any large finance company will adversely impact economic growth, S&P Global Ratings said in a report on Wednesday. According to the report, a bank failure could disrupt the interbank market, payments, hurt credit availability and adversely affect economic growth. "India's finance companies are among the country's largest borrowers. A substantial part of this funding comes from banks. The failure of any large non-banking financial company or housing finance company may deliver a solvency shock to lenders," said S&P Global Ratings credit analyst Geeta Chugh. Moreover, the failure of a large finance company may have other consequences, such as draining the credit available to the sector. (Image: Reuters)
7. TRAI On Reliance Jio: Telecom operator Reliance Jio recorded over 2.5 times higher average data download speed of 21 megabit per second in September 2019, compared to its closest competitor Bharti Airtel, according to data released by the sector regulator Trai. Bharti Airtel network recorded average download speed of 8.3 mbps in September. It was followed by Vodafone with 6.9 mbps and Idea Cellular with 6.4 mbps download speed. Both Vodafone and Idea Cellular have merged their businesses but their network integration is still on. (Image: Reuters)
7. TRAI On Reliance Jio: Telecom operator Reliance Jio recorded over 2.5 times higher average data download speed of 21 megabit per second in September 2019, compared to its closest competitor Bharti Airtel, according to data released by the sector regulator Trai. Bharti Airtel network recorded average download speed of 8.3 mbps in September. It was followed by Vodafone with 6.9 mbps and Idea Cellular with 6.4 mbps download speed. Both Vodafone and Idea Cellular have merged their businesses but their network integration is still on. (Image: Reuters)
8. World Economic Forum On AI: Financial services firms that are first movers on implementing artificial intelligence (AI) use have the most to gain, but also face higher risks by deploying emerging technologies without regulatory clarity, the World Economic Forum said in a report on Wednesday. The often-opaque nature of AI decisions and related concerns of algorithmic bias, fiduciary duty, uncertainty and more have left the implementation of the most cutting-edge AI uses at a standstill, the report pointed out. Geneva-based WEF, which describes itself as an international organization for public-private cooperation, in its report also proposed frameworks to help financial institutions and regulators explain AI decisions, understand emerging risks from the use of AI, and identify how they might be addressed. According to the study, using AI responsibly is about more than mitigating risks, as its use in financial services presents an opportunity to raise the ethical bar for the financial system as a whole. It also offers financial services a competitive edge against their peers and new market entrants. (Stock Image)
8. World Economic Forum On AI: Financial services firms that are first movers on implementing artificial intelligence (AI) use have the most to gain, but also face higher risks by deploying emerging technologies without regulatory clarity, the World Economic Forum said in a report on Wednesday. The often-opaque nature of AI decisions and related concerns of algorithmic bias, fiduciary duty, uncertainty and more have left the implementation of the most cutting-edge AI uses at a standstill, the report pointed out. Geneva-based WEF, which describes itself as an international organization for public-private cooperation, in its report also proposed frameworks to help financial institutions and regulators explain AI decisions, understand emerging risks from the use of AI, and identify how they might be addressed. According to the study, using AI responsibly is about more than mitigating risks, as its use in financial services presents an opportunity to raise the ethical bar for the financial system as a whole. It also offers financial services a competitive edge against their peers and new market entrants. (Stock Image)
9. L&T Advises Government Tips To Revive Economy: The government should overlook political expediencies, instead prioritize its spending to meet the needs of a struggling economy, engineering major Larsen & Toubro said on Wednesday. The government is delaying payments, leading to pressure on working capital, the management of the engineering major said, adding it cannot
9. L&T Advises Government Tips To Revive Economy: The government should overlook political expediencies, instead prioritize its spending to meet the needs of a struggling economy, engineering major Larsen & Toubro said on Wednesday. The government is delaying payments, leading to pressure on working capital, the management of the engineering major said, adding it cannot "afford" such a situation. "The government has to prioritize allocation of funds to projects and contractors and also its vendors. It is very important that the government spend is not confined to political ends, but diverted towards economic ends," chief financial officer R Shankar Raman told reporters while announcing the second-quarter numbers. He was replying to a specific question on what can be done to revive the tottering growth. (Image: Reuters)
10. CBRE On Home Prices: Real estate consultant CBRE, on Wednesday said home prices, having already fallen 20-30 percent, are unlikely to correct further even though the largest markets of Delhi-NCR and Mumbai are still reeling under slow demand.<br />Low consumer sentiment and higher prices have led to a slowdown in Delhi-NCR and Mumbai, leading to a 20-30 percent correction in these cities, leaving no scope for more<br />corrections, the company said, adding since there is no fresh supply, the inventory will slowly get absorbed. The affordable housing segment is doing very well following several policy announcements in this regard, it said, adding office/commercial segment is also bullish. (Image: Shutterstock)
10. CBRE On Home Prices: Real estate consultant CBRE, on Wednesday said home prices, having already fallen 20-30 percent, are unlikely to correct further even though the largest markets of Delhi-NCR and Mumbai are still reeling under slow demand.
Low consumer sentiment and higher prices have led to a slowdown in Delhi-NCR and Mumbai, leading to a 20-30 percent correction in these cities, leaving no scope for more
corrections, the company said, adding since there is no fresh supply, the inventory will slowly get absorbed. The affordable housing segment is doing very well following several policy announcements in this regard, it said, adding office/commercial segment is also bullish. (Image: Shutterstock)
Live TV

Ask Our Experts CNBC TV18