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10 things to know before the opening bell on December 17

Updated : December 17, 2019 07:37 AM IST

Indian shares are expected to open higher on Tuesday, tracking positive sentiment in the global markets on the back of easing US-China trade worries. At 7:07 am, the SGX Nifty was trading 30.50 points or 0.25 percent higher at 12,100.50, indicating a positive start for the Sensex and Nifty50. Here are the key things to know before the market opens

1. Asian shares gained on Tuesday, but a lack of detail about the Sino-US trade deal tempered some of the exuberance that sent Wall Street to record highs overnight, while familiar fears of a hard Brexit knocked the pound. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1 percent. Japan's Nikkei rose half a percent to its highest in more than year. Australia's S&P/ASX 200 eked a tiny extension to Monday's big gains. (Image: Reuters)
1. Asian shares gained on Tuesday, but a lack of detail about the Sino-US trade deal tempered some of the exuberance that sent Wall Street to record highs overnight, while familiar fears of a hard Brexit knocked the pound. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1 percent. Japan's Nikkei rose half a percent to its highest in more than year. Australia's S&P/ASX 200 eked a tiny extension to Monday's big gains. (Image: Reuters)
2. Wall Street notched a fresh record high on Monday as investor confidence was boosted by upbeat data from China while cooling trade tensions between the world's two biggest economies removed one of the hurdles for global economic growth. The Dow Jones Industrial Average closed 100.51 points higher, or 0.4 percent at 28,235.89. The S&P 500 gained 0.7 percent to end the day at 3,191.45 while the Nasdaq Composite jumped 0.9 percent to 8,814.23. (Image: AP)
2. Wall Street notched a fresh record high on Monday as investor confidence was boosted by upbeat data from China while cooling trade tensions between the world's two biggest economies removed one of the hurdles for global economic growth. The Dow Jones Industrial Average closed 100.51 points higher, or 0.4 percent at 28,235.89. The S&P 500 gained 0.7 percent to end the day at 3,191.45 while the Nasdaq Composite jumped 0.9 percent to 8,814.23. (Image: AP)
3. Markets At Close On Monday: Indian shares pared early gains to end lower on Monday, as initial enthusiasm over the phase one Sino-US trade pact gave way to concerns about the lack of concrete details on the agreement. The BSE Sensex settled 71 points lower at 40,939, while the NSE Nifty50 was down by 26 points to end at 12,061. Meanwhile, the foreign institutional investors Rs 728 crore while the domestic institutional investors sell Rs 796 crore in the cash market. (Image: Reuters)
3. Markets At Close On Monday: Indian shares pared early gains to end lower on Monday, as initial enthusiasm over the phase one Sino-US trade pact gave way to concerns about the lack of concrete details on the agreement. The BSE Sensex settled 71 points lower at 40,939, while the NSE Nifty50 was down by 26 points to end at 12,061. Meanwhile, the foreign institutional investors Rs 728 crore while the domestic institutional investors sell Rs 796 crore in the cash market. (Image: Reuters)
4. The rupee reversed all its early gains and settled 17 paise down at 71.00 against the US currency on Monday, following rising crude oil prices and fag-end selling in domestic equities. Forex traders said the rupee ended the day in the negative territory after inflows related to Essar steel got completed. At the interbank foreign exchange market, the rupee had opened at 70.80 against the US dollar. Later, the local unit lost ground and fell to the day's low of 71.03. The domestic unit finally settled at 71.00, registering 17 paise decline over the previous closing. On Friday, the rupee had settled at 70.83 against the American currency. (Image: Reuters)
4. The rupee reversed all its early gains and settled 17 paise down at 71.00 against the US currency on Monday, following rising crude oil prices and fag-end selling in domestic equities. Forex traders said the rupee ended the day in the negative territory after inflows related to Essar steel got completed. At the interbank foreign exchange market, the rupee had opened at 70.80 against the US dollar. Later, the local unit lost ground and fell to the day's low of 71.03. The domestic unit finally settled at 71.00, registering 17 paise decline over the previous closing. On Friday, the rupee had settled at 70.83 against the American currency. (Image: Reuters)
5. Oil prices rose slightly Monday on hopes energy demand will benefit from the trade deal between the United States and China announced last week, but prices remained below the previous session’s three-month highs. Brent crude oil futures rose 16 cents to $65.37 a barrel, while West Texas Intermediate crude rose 14 cents to settle near a three-month high of $60.21 a barrel. (Image: Reuters)
5. Oil prices rose slightly Monday on hopes energy demand will benefit from the trade deal between the United States and China announced last week, but prices remained below the previous session’s three-month highs. Brent crude oil futures rose 16 cents to $65.37 a barrel, while West Texas Intermediate crude rose 14 cents to settle near a three-month high of $60.21 a barrel. (Image: Reuters)
6. The wholesale prices based inflation has advanced to 0.58 percent in November, driven by an increase in prices of food articles. The Wholesale Price Index-based inflation stood at 0.16 percent in October and 4.47 percent in November 2018. Data from the Ministry of Commerce and Industry on Monday showed that the rate of price rise for food articles rose to 11 percent in November, compared to 9.80 percent in October.  (Image: Reuters)
6. The wholesale prices based inflation has advanced to 0.58 percent in November, driven by an increase in prices of food articles. The Wholesale Price Index-based inflation stood at 0.16 percent in October and 4.47 percent in November 2018. Data from the Ministry of Commerce and Industry on Monday showed that the rate of price rise for food articles rose to 11 percent in November, compared to 9.80 percent in October.  (Image: Reuters)

7. Reserve Bank of India (RBI) Governor Shaktikanta Das said on Monday that it will do everything necessary to address growth slowdown, the spike in inflation, the health of banks and non-banking financial companies (NBFCs). The RBI Governor said that it had seen the momentum of growth slowdown in the Indian economy and acted ahead of time by reducing rates from February, adding that growth slowdown in the country was not entirely attributable to global factors. He said that coordinated and timely actions were needed by all advanced and emerging economies to address global economic slowdown. “Hope the China-US understanding on trade will hold and will be sustainable,” said Das. (Image: Reuters)
7. Reserve Bank of India (RBI) Governor Shaktikanta Das said on Monday that it will do everything necessary to address growth slowdown, the spike in inflation, the health of banks and non-banking financial companies (NBFCs). The RBI Governor said that it had seen the momentum of growth slowdown in the Indian economy and acted ahead of time by reducing rates from February, adding that growth slowdown in the country was not entirely attributable to global factors. He said that coordinated and timely actions were needed by all advanced and emerging economies to address global economic slowdown. “Hope the China-US understanding on trade will hold and will be sustainable,” said Das. (Image: Reuters)
8. Moody's Cuts India GDP Growth: Global ratings agency Moody's Investors Service has lowered India’s gross domestic product growth projection for the fiscal year 2019-20 to 4.9 percent from 5.8 percent, saying that weak household consumption will curb economic growth and weigh on the credit quality.
8. Moody's Cuts India GDP Growth: Global ratings agency Moody's Investors Service has lowered India’s gross domestic product growth projection for the fiscal year 2019-20 to 4.9 percent from 5.8 percent, saying that weak household consumption will curb economic growth and weigh on the credit quality. "What was once an investment-led slowdown has now broadened into weakening consumption, driven by financial stress among rural households on the back of stagnating agricultural wage growth and constrained productivity, as well as weak job creation due to rigid land and labor laws," said Deborah Tan, a Moody's Assistant Vice President and Analyst. (Image: Reuters)
9. IMF Chief Economist On India's  Economy: With economic growth slowing to a six-year low, IMF Chief Economist Gita Gopinath says the government should undertake structural reforms such as bank clean-up and labour reforms to address the slowdown in domestic demand. Gopinath, who is travelling to India this week, rooted for government policies focusing on managing a slowdown in domestic demand, and on boosting productivity growth and supporting employment creation in the medium term. (Image: Reuters)
9. IMF Chief Economist On India's  Economy: With economic growth slowing to a six-year low, IMF Chief Economist Gita Gopinath says the government should undertake structural reforms such as bank clean-up and labour reforms to address the slowdown in domestic demand. Gopinath, who is travelling to India this week, rooted for government policies focusing on managing a slowdown in domestic demand, and on boosting productivity growth and supporting employment creation in the medium term. (Image: Reuters)
10. Nitin Gadkari On MSMEs: Union Minister Nitin Gadkari on Monday approved changes in the Interest Subvention Scheme guidelines for micro, small and medium enterprises, and said the modifications are expected to boost their productivity through access to credit at reduced cost.
10. Nitin Gadkari On MSMEs: Union Minister Nitin Gadkari on Monday approved changes in the Interest Subvention Scheme guidelines for micro, small and medium enterprises, and said the modifications are expected to boost their productivity through access to credit at reduced cost. "It is expected that the modifications in the scheme guidelines will lead to the fulfilment of objectives of the scheme, i.e. to increase productivity in MSMEs through access to credit at a reduced cost," Gadkari said.  (Image: Reuters)
Published : December 17, 2019 07:21 AM IST
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