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10 things that you need to know before the opening bell on December 20

10 things that you need to know before the opening bell on December 20

10 things that you need to know before the opening bell on December 20
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By CNBC-TV18 Dec 20, 2019 7:50:43 AM IST (Updated)

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Indian benchmark indices BSE Sensex and NSE’s Nifty50 are expected to open little changed on Friday tracking muted trends in global markets amid thin trades due to the upcoming holiday season. Here are the key things to know before the market opens:

1. Asia: MSCI's broadest index of Asia-Pacific shares outside Japan was little changed and near its highest since the end of August. It was still up 1.9 percent for the week and 13 percent for the year so far. Japan's Nikkei added 0.1 percent, to be 2.6 percent firmer for the week. E-Mini futures for the S&P 500 edged up 0.04 percent.(Reuters)
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1. Asian shares snoozed near 18-month highs on Friday as trade thinned in the run-up to Christmas and investors seemed content to digest the chunky gains already made so far this month, reported Reuters. MSCI's broadest index of Asia-Pacific shares outside Japan was a fraction firmer in early trade. Japan's Nikkei inched up 0.1 percent after reaching a 14-month top earlier in the week. South Korea's market added 0.25 percent on the day. (Image: Reuters)

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2. Wall Street's major indexes resumed their rally with fresh records on Thursday as U.S. Treasury Secretary Steven Mnuchin said an initial U.S.-China trade deal would be signed in early January. The benchmark S&P 500 hit a sixth straight record high, its longest streak since January 2018. The Dow Jones Industrial Average and the Nasdaq also touched new highs, reported Reuters. The Dow Jones Industrial Average rose 137.68 points, or 0.49 percent, to 28,376.96. The S&P 500 gained 14.23 points, or 0.45 percent, to 3,205.37, and the Nasdaq Composite added 59.48 points, or 0.67 percent, to 8,887.22. (Image: Reuters)

Sensex, Nifty, Market News, Stock Markets Today, Rupee Vs Dollar, Hindustan Unilever, WPI November 2019 data, Tata Consultancy Services
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3. On Thursday, the benchmark indices continued its bulls run to end at a record close for the third straight session led by auto, IT, and FMCG sectors. Gains in index heavyweights like Reliance Industries, TCS, Bharti Airtel, and HUL also helped lift the indices to record highs. The BSE Sensex ended 115 points higher at a new closing high of 41,674, while Nifty settled 38 points higher at fresh closing high of 12,260. Meanwhile, foreign institutional investors bought Rs 739 crore while the domestic institutional investors sold Rs 494 crore in the cash market. (Image: Reuters)

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4. The rupee depreciated by 6 paise to close at 71.03 against the US dollar on Thursday as a steady rise in crude oil prices weighed on investor sentiments. Forex traders said the rupee ended on a weak note as importers rushed for hedging amid expectations of intervention by the central bank. At the interbank foreign exchange market, the local currency opened on a weak note at 71.01 and fell further to a low of 71.18. It finally settled at 71.03, lower by 6 paise against its previous close. (Image: Reuters)

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5. Oil prices reached the highest level in three months in thin pre-Christmas trading on Thursday, buoyed by the previous day's news that U.S. crude inventories declined and as U.S.-China trade tensions continued to ease. Brent crude futures rose 37 cents to settle at $66.54 a barrel, gaining for the sixth straight day. U.S. West Texas Intermediate (WTI) crude rose 29 cents to settle at $61.22 a barrel. (Image: Reuters)

reserve bank of india
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6. After the minutes of the Monetary Policy Committee (MPC) meeting was released on Thursday, rating agency Care Ratings said it is expecting another 25 basis points rate cut in February itself. In an interview to CNBC-TV18, Madan Sabnavis, Chief Economist, said, "Reading the MPC minutes it does gives me the impression that it is going to be a one-time pause." According to Sabnavis, after union budget 2020, RBI can make a decision on the rate cut as the status of government finances will be out then.  (Image: Reuters)

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7. India Inc leaders, including Bharti Enterprises Chairman Sunil Bharti Mittal, CII President Vikram Kirloskar and Assocham President Balkrishna Goenka, on Thursday, asked the government to take measures to augment ease of doing business to "create more freedom for the industry to perform". Bharti Airtel chairman Sunil Bharti Mittal said some suggestions around mergers and acquisitions (M&As), demerger, NCLT process, about certain sections of income tax which were coming in the way of M&A or slowing them down were made. (Image: Reuters)

India's Finance Minister Nirmala Sitharaman
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8. Trade unions urged the government to provide a minimum wage of Rs 21,000, a minimum pension of Rs 6,000 under Employees' Pension Scheme and tax exemption on an annual income of up to Rs 10 lakh in a pre-budget meeting with Finance Minister Nirmala Sitharaman on Thursday. The unions have also raised concerns over rising unemployment in the country, saying "employment generation has nose-dived in recent period". During the meeting, they suggested that massive public investment in infrastructure, social sectors and agriculture would generate employment and the Union Budget should give it a priority and allocate necessary funds for this. (Image: Reuters)

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9. Domestic passenger traffic growth is expected to decline to a six-year low of 4.5 percent in the current fiscal and the financial health of the aviation industry will continue to deteriorate, rating agency Icra said on Thursday. The domestic air passenger volume grew in double-digit for five consecutive years, it said in a release.  Excluding Air India, the rest of the industry is expected to report a net loss of around Rs 1,500 crore in the fiscal with a total debt of around Rs 7,000 crore as on March 31, 2020, it said in a statement. (Image: Reuters)

SBI General Insurance
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10. Life insurers have sought 100 percent foreign direct investment (FDI) limit for the sector through the automatic route, which can help the sector attract capital of Rs 40,000-60,000 crore. India has received nearly Rs 30,000 crore worth of FDI in the private sector insurance firms since 2015, when the government increased the FDI limit from 26 percent to 49 percent. In a detailed presentation to the Insurance Regulatory and Development Authority of India (Irdai), life insurance companies pitched for a 100 percent FDI limit in the sector. Investment under the automatic route does not require prior approval from the government. (Image: Reuters)

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