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10 things you should know before the opening bell on November 27

Updated : 2019-11-27 07:21:37

Indian shares are expected to open flat on Wednesday, as the SGX Nifty, an indicator of the opening for the Sensex and the Nifty, was trading 3 points or 0.02 percent lower at 12,084.50 at 7:05 am, hinting at a flat start for the domestic market. The market touched record highs in Tuesday’s trade but soon pared gains due to losses in IT and telecom and auto stocks. Here are the 10 things you need to know before the opening bell:

1. Asia: Asian shares ticked higher on Wednesday as more upbeat signals from US-China trade talks fanned hopes of an imminent end to tariff hostilities, which helped offset concerns about a slowing US economy. The positive mood pushed Wall Street indexes to fresh record closing highs on Tuesday and stoked confidence in early Asian trade with MSCI's broadest index of Asia-Pacific shares outside Japan up 0.14 percent. Australian shares added 0.46 percent and Japan's Nikkei rose 0.41 percent. (Image; AP)
1. Asia: Asian shares ticked higher on Wednesday as more upbeat signals from US-China trade talks fanned hopes of an imminent end to tariff hostilities, which helped offset concerns about a slowing US economy. The positive mood pushed Wall Street indexes to fresh record closing highs on Tuesday and stoked confidence in early Asian trade with MSCI's broadest index of Asia-Pacific shares outside Japan up 0.14 percent. Australian shares added 0.46 percent and Japan's Nikkei rose 0.41 percent. (Image; AP)
2. US: U.S. stocks crawled higher on Tuesday, and all three major Wall Street indexes notched record levels, as upbeat comments by President Donald Trump on trade talks eclipsed some softer-than-anticipated economic data. The Dow Jones Industrial Average rose 55.21 points, or 0.2 percent, to 28,121.68, the S&P 500 gained 6.88 points, or 0.22 percent, to 3,140.52 and the Nasdaq Composite added 15.45 points, or 0.18 percent, to 8,647.93.  (Image; AP)
2. US: U.S. stocks crawled higher on Tuesday, and all three major Wall Street indexes notched record levels, as upbeat comments by President Donald Trump on trade talks eclipsed some softer-than-anticipated economic data. The Dow Jones Industrial Average rose 55.21 points, or 0.2 percent, to 28,121.68, the S&P 500 gained 6.88 points, or 0.22 percent, to 3,140.52 and the Nasdaq Composite added 15.45 points, or 0.18 percent, to 8,647.93.  (Image; AP)
3. Markets At Close On Tuesday: Indian shares ended in red on Tuesday after hitting record highs in morning trade dragged by losses in IT, telecom, and auto stocks. Fall in index heavyweights like TCS, Bharti Airtel, Infosys, L&T, and Maruti also added to the losses.  The Sensex ended 68 points lower at 40,821, down 299 points from its record high, while the Nifty settled 36 points lower at 12,037, down 95 points from its record high. Meanwhile, the foreign institutional investors 4,678 crore in the cash market while the domestic institutional investors sold Rs 4,242 crore. (Image: Reuters)
3. Markets At Close On Tuesday: Indian shares ended in red on Tuesday after hitting record highs in morning trade dragged by losses in IT, telecom, and auto stocks. Fall in index heavyweights like TCS, Bharti Airtel, Infosys, L&T, and Maruti also added to the losses.  The Sensex ended 68 points lower at 40,821, down 299 points from its record high, while the Nifty settled 36 points lower at 12,037, down 95 points from its record high. Meanwhile, the foreign institutional investors 4,678 crore in the cash market while the domestic institutional investors sold Rs 4,242 crore. (Image: Reuters)
4. Currency: The Indian rupee on Tuesday rose by 24 paise to settle at an over two-week high of 71.50 against the US dollar as persistent foreign fund inflows and hopes about US-China trade logjam breakthrough boosted forex market sentiment. After starting off on a stronger note, the domestic unit further strengthened its position tracking a host of positive factors. It traded in the range of 71.49-71.68, before settling at 71.50 a dollar, clocking a gain of 24 paise -- the biggest single-day rise since October 17. The rupee gain was further strengthened by the weakening of the dollar against the key rival currencies.(Image: Shutterstock)
4. Currency: The Indian rupee on Tuesday rose by 24 paise to settle at an over two-week high of 71.50 against the US dollar as persistent foreign fund inflows and hopes about US-China trade logjam breakthrough boosted forex market sentiment. After starting off on a stronger note, the domestic unit further strengthened its position tracking a host of positive factors. It traded in the range of 71.49-71.68, before settling at 71.50 a dollar, clocking a gain of 24 paise -- the biggest single-day rise since October 17. The rupee gain was further strengthened by the weakening of the dollar against the key rival currencies.(Image: Shutterstock)
5. Crude Oil: Oil prices rose on Tuesday after news that U.S. and Chinese officials discussed trade, while predictions for a weekly draw on U.S. crude stockpiles lent some support as well. Brent crude futures gained 62 cents to settle at $64.27 a barrel, while West Texas Intermediate crude rose 4 percent cents to end at $58.41 a barrel. (Image: Reuters)
5. Crude Oil: Oil prices rose on Tuesday after news that U.S. and Chinese officials discussed trade, while predictions for a weekly draw on U.S. crude stockpiles lent some support as well. Brent crude futures gained 62 cents to settle at $64.27 a barrel, while West Texas Intermediate crude rose 4 percent cents to end at $58.41 a barrel. (Image: Reuters)
6. India Ratings Cuts GDP Forecast: Indian economy may have slowed for the sixth consecutive quarter in July-September to 4.7 percent, Fitch group firm India Ratings and Research said on Tuesday, as it lowered GDP growth forecast for current fiscal for the fourth time. This comes despite a recent series of fiscal stimulus, including a reduction in corporate tax rates. The revision, it said, became
6. India Ratings Cuts GDP Forecast: Indian economy may have slowed for the sixth consecutive quarter in July-September to 4.7 percent, Fitch group firm India Ratings and Research said on Tuesday, as it lowered GDP growth forecast for current fiscal for the fourth time. This comes despite a recent series of fiscal stimulus, including a reduction in corporate tax rates. The revision, it said, became "inevitable as the high-frequency data now suggests that the agency's estimate of 2QFY20 GDP growth coming in a little higher than 5 percent is unlikely to hold". (Stock Image)
7. RBI Likely To Cut Repo Rate: The Reserve Bank of India is expected to cut interest rates in its December bi-monthly monetary policy and again before July, according to economists in a Reuters’ poll. The latest Reuters poll predicted the RBI would cut its repo rate for the sixth time in a row by 25 basis points to 4.90 percent at its December 3-5 meeting, according to median forecasts from more than 70 economists. That would mark the longest streak of consecutive rate cuts since the current interest rate framework was introduced nearly 20 years ago. (Image: Reuters)
7. RBI Likely To Cut Repo Rate: The Reserve Bank of India is expected to cut interest rates in its December bi-monthly monetary policy and again before July, according to economists in a Reuters’ poll. The latest Reuters poll predicted the RBI would cut its repo rate for the sixth time in a row by 25 basis points to 4.90 percent at its December 3-5 meeting, according to median forecasts from more than 70 economists. That would mark the longest streak of consecutive rate cuts since the current interest rate framework was introduced nearly 20 years ago. (Image: Reuters)
8. Piyush Goyal On Service Sector: Union minister Piyush Goyal on Tuesday said India's service sector can help achieve the Central government's target of USD 5 trillion GDP.<br />The service sector has the potential to be the largest job creators in the country and over the next five years it has the potential to contribute USD 3 trillion out of the USD 5 trillion GDP target set by the government, Goyal, the minister of Railways, Commerce and Industry, said. At the inauguration of the fifth Global Exhibition on Services-2019 at the Palace Grounds here, he said it is the manufacturing and services industry that will be the growth engines of the Indian economy. (Image: Reuters)
8. Piyush Goyal On Service Sector: Union minister Piyush Goyal on Tuesday said India's service sector can help achieve the Central government's target of USD 5 trillion GDP.
The service sector has the potential to be the largest job creators in the country and over the next five years it has the potential to contribute USD 3 trillion out of the USD 5 trillion GDP target set by the government, Goyal, the minister of Railways, Commerce and Industry, said. At the inauguration of the fifth Global Exhibition on Services-2019 at the Palace Grounds here, he said it is the manufacturing and services industry that will be the growth engines of the Indian economy. (Image: Reuters)
9. CRISIL On Infra Spending: States need to scale up investments to Rs 110 lakh crore over the next decade to achieve India's massive infrastructure targets, rating agency Crisil said on Tuesday. States already account for 41 percent of the overall infrastructure spending of Rs 77 lakh crore this decade, the rating agency said while releasing its Infrastructure Yearbook 2019. The agency said for the country-wide infrastructure, required spending will be Rs 235 lakh crore over the next decade and called for average GDP growth of 7.5 percent and infrastructure spending of above 6 percent of GDP to help achieve this. Five sectors – transport, irrigation, energy, urban & housing, and water & sanitation – accounted for two-thirds of states' spending. Some of these sectors, which come under the purview of states, have burgeoning infrastructure deficits and need big investment leaps to plug the gaps. (Image: PTI)
9. CRISIL On Infra Spending: States need to scale up investments to Rs 110 lakh crore over the next decade to achieve India's massive infrastructure targets, rating agency Crisil said on Tuesday. States already account for 41 percent of the overall infrastructure spending of Rs 77 lakh crore this decade, the rating agency said while releasing its Infrastructure Yearbook 2019. The agency said for the country-wide infrastructure, required spending will be Rs 235 lakh crore over the next decade and called for average GDP growth of 7.5 percent and infrastructure spending of above 6 percent of GDP to help achieve this. Five sectors – transport, irrigation, energy, urban & housing, and water & sanitation – accounted for two-thirds of states' spending. Some of these sectors, which come under the purview of states, have burgeoning infrastructure deficits and need big investment leaps to plug the gaps. (Image: PTI)
10. India's New Liberalised Fuel Retail Policy: India's new liberalized petrol pump norms require licensees to set up a minimum of 100 outlets with at least 5 percent of them in remote areas. According to a Gazette notification detailing the norms for setting up petrol pumps, the licensee would also be required to
10. India's New Liberalised Fuel Retail Policy: India's new liberalized petrol pump norms require licensees to set up a minimum of 100 outlets with at least 5 percent of them in remote areas. According to a Gazette notification detailing the norms for setting up petrol pumps, the licensee would also be required to "install facilities for marketing at least one new generation alternative fuels like compressed natural gas (CNG), biofuels, liquefied natural gas, electric vehicle charging points etc at their proposed retail outlets within three years of operationalisation of the said outlet." The government had last month relaxed norms for setting up petrol pumps, allowing non-oil companies to market fuel in the world's fastest-growing market. Prior to this change, to obtain a fuel retailing licence in India, a company needed to invest Rs 2,000 crore in either hydrocarbon exploration and production, refining, pipelines or liquefied natural gas (LNG) terminals. (Image: Reuters)
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