The Indian market is likely to open in the green on Friday following gains in global peers on optimism over a US-China trade agreement. At 7 am, the SGX Nifty was trading 25.50 points or 0.21 percent higher at 12,219.00, indicating a positive start for the Sensex and Nifty50.
1. Asia: Stocks in Asia traded mixed Friday morning as shares on Wall Street jumped to new record highs overnight stateside. Japanese retail sales data for November released earlier on Friday came in worse than expected. Japan’s Nikkei 225 was largely unchanged in early trade while the Topix index added 0.18 percent. In South Korea, the Kospi slipped 0.61 percent. (Image: AP)
2. US: Stocks climbed Thursday, hitting record highs as the market rallied into the end of 2019. The Dow Jones Industrial Average rose 105.94 points, or 0.37 percent, to 28,621.39, while the S&P 500 climbed 0.51 percent to 3,239.91. The Nasdaq Composite finished the day 0.78 percent higher at 9,022.39, topping the 9,000 mark for the first time ever. (Image: AP)
3. Markets At Close On Thursday: Indian shares ended the December F&O expiry near day's low on Thursday dragged by index heavyweights like Reliance Industries, HDFC Bank, L&T, Kotak Bank and Bharti Airtel. The BSE Sensex ended 297 points lower at 41,164 and the Nifty50 settled 88 points lower at 12,126. Meanwhile, foreign institutional investors sold Rs 504 crore in the cash market while the domestic institutional investors bought Rs 120 crore. (Image: Reuters)
4. Rupee Close: The rupee erased its early gains to settle down by 4 paise at a three-week low of 71.31 against the US currency on Thursday, marking its fifth straight day of losses amid heavy selling in domestic equities and steady rise in crude oil prices. Month-end dollar demand and weakness in domestic equities weighed on the domestic currency, forex traders said. The rupee finally settled at 71.31 against the US dollar, lower by 4 paise over its previous close of 71.27 on Tuesday.c
5. Crude Oil: Oil prices were at the highest in more than three months on Thursday, buoyed by hopes of an end to the China-U.S. trade fight and by a report showing lower U.S. crude inventories. Brent crude gained 48 cents to $67.68 a barrel by 11:22 a.m. (1622 GMT). U.S. West Texas Intermediate crude also gained 48 cents, to $61.59. Both benchmarks were their strongest since September 17. (Image: AP)
6. RBI to Purchase G-Securities: The Reserve Bank of India on Thursday announced simultaneous purchase and sale of government securities through special open market operations (OMOs) for Rs 10,000 crore each on December 30 following a review of liquidity situation. Earlier this week, the central bank had conducted a similar OMO and purchased securities worth Rs 10,000 crore and sold worth Rs 6,825 crore.
"On review of the current liquidity and market situation and an assessment of the evolving financial conditions, the Reserve Bank has decided to conduct one more simultaneous purchase and sale of government securities under OMO for Rs 10,000 crore each on December 30, 2019," it said in a statement. (Image: Reuters)
7. FM To Meet PSB CEOs: Finance Minister Nirmala Sitharaman will hold a meeting with heads of public sector banks on Saturday to review the financial performance of the lenders and their business growth, sources said. Given the importance of the banking sector in generating demand and boosting consumption, the sources said the meeting with the MD and CEOs of PSBs ahead of the Budget 2020-21 is considered important. The meeting is also expected to take up discussion on non-performing asset recovery through both NCLT and non-NCLT means, the sources said. The meeting is expected to take stock of the banking sector and pushing loan growth, the sources said adding that the banks may be nudged to further cut interest rates to fully pass on the transmission of the repo rate cut. (Image: Reuters)
8. SEBI Slaps Fine On ICRA, CARE: Markets regulator Sebi on Thursday imposed a penalty of Rs 25 lakh each on rating agencies ICRA and CARE for failing to exercise "due diligence" while assigning a credit rating to the non-convertible debentures of IL&FS.
Sebi also said the default by IL&FS occurred due to "lethargic indifference and needless procrastination and laxity" of these rating agencies. The regulator undertook an examination with respect to the role of the credit rating agencies (CRAs), including CARE Ratings Ltd and ICRA Ltd, in assigning rating to various NCDs of Infrastructure Leasing and Financial Services (IL&FS). (Image: Reuters)
9. DoT On TRAI's 5G Spectrum View: The Department of Telecom will soon seek sector regulator Trai's recommendations on pricing and other modalities for coveted 5G bands of 24.75-27.25 GHz, and wants to put this new spectrum up for auction sometime next year, sources said. The Department of Telecom (DoT) sources said that the government will soon approach the Telecom Regulatory Authority of India (Trai) for its recommendations on 'millimetre wave bands' of 24.75-27.25 GHz, the coveted bands for 5G. DoT plans to approach the regulator in January for views on these additional 5G bands, sources stated. Although DoT ideally wants these bands to be put for sale earlier in the year, there are specific timelines involved in Trai reference and responses, they pointed out. (Image: Reuters)
10. IPO Fund Raising Plunges In 2019: Reflecting the woes of the broader economy, fundraising through IPOs plunged to a low Rs 12,362 crore in 2019, down a full 60 percent from 2018 when the street mopped up Rs 30,959 crore. The outgoing year saw only 16 initial public offerings (IPOs) as against 24 in 2018, show the data collated by the premier database on the capital market Prime Database. That the economy is in bad shape -- Q2 GDP has come in at near seven-year-low of 4.5 percent and there is no sign of any improvement going forward -- is clear from the fact that as many 47 companies who got Sebi nod to raise over Rs 51,000 crore through IPOs allowed their same to lapse. (Stock Image)