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10 things you need to know before the opening bell on December 7

Updated : December 07, 2020 07:53 AM IST

The Indian equity market is expected to open lower on Monday tracking global peers as US employment data missed expectations resulting in a cautious sentiment in the market. At 7:23 am, the SGX Nifty traded 42.50 points lower at 13,284.50, indicating a lower start for the Sensex and the Nifty50.

1. Asia: Asia-Pacific markets mostly rose Monday as sentiment improved around coronavirus vaccine rollouts and U.S. stimulus hopes. Australia’s benchmark ASX 200 was up 0.69 percent, trimming some of its earlier gains of more than 1 percent. Energy and mining stocks were up — shares of Rio Tinto rose 2.68 percent, Woodside Petroleum was up 0.74 percent, Fortescue was up 3.78 percent and BHP added 2.57 percent. Japanese markets struggled for gains: The Nikkei 225 gave up early gains to trade down 0.1 percent while the Topix index also fell 0.1 percent. South Korea’s Kospi index rose 0.2 percent. U.S. stock futures rose slightly after a record-setting session Friday on Wall Street. (Image: Reuters)
1. Asia: Asia-Pacific markets mostly rose Monday as sentiment improved around coronavirus vaccine rollouts and U.S. stimulus hopes. Australia’s benchmark ASX 200 was up 0.69 percent, trimming some of its earlier gains of more than 1 percent. Energy and mining stocks were up — shares of Rio Tinto rose 2.68 percent, Woodside Petroleum was up 0.74 percent, Fortescue was up 3.78 percent and BHP added 2.57 percent. Japanese markets struggled for gains: The Nikkei 225 gave up early gains to trade down 0.1 percent while the Topix index also fell 0.1 percent. South Korea’s Kospi index rose 0.2 percent. U.S. stock futures rose slightly after a record-setting session Friday on Wall Street. (Image: Reuters)
2. US: U.S. stock futures were little changed on Sunday night following a record-setting session as Wall Street searched for clues on additional fiscal aid. Dow Jones Industrial Average futures traded lower by just 17 points, or less than 0.1 percent. S&P 500 were flat, and Nasdaq 100 futures advanced 0.2 percent. (Image: AP)
2. US: U.S. stock futures were little changed on Sunday night following a record-setting session as Wall Street searched for clues on additional fiscal aid. Dow Jones Industrial Average futures traded lower by just 17 points, or less than 0.1 percent. S&P 500 were flat, and Nasdaq 100 futures advanced 0.2 percent. (Image: AP)
3. Closing Bell On Friday: Sensex crossed 45,000-mark for the first time on Friday, ending at record close after RBI upgraded its GDP target for the current fiscal year and kept interest rates steady in the face of stubbornly high inflation. The Sensex ended 447 points higher at its closing high of 45,079 while the Nifty added 124 points to settle at its record close of 13,258. Both indices were also 2 percent higher for the week. The RBI kept the key lending rate unchanged at 4 percent. The central bank has already cut its key interest rate by a total 115 basis points this year to revive growth and cushion the impact of the pandemic. (Image: Reuters)
3. Closing Bell On Friday: Sensex crossed 45,000-mark for the first time on Friday, ending at record close after RBI upgraded its GDP target for the current fiscal year and kept interest rates steady in the face of stubbornly high inflation. The Sensex ended 447 points higher at its closing high of 45,079 while the Nifty added 124 points to settle at its record close of 13,258. Both indices were also 2 percent higher for the week. The RBI kept the key lending rate unchanged at 4 percent. The central bank has already cut its key interest rate by a total 115 basis points this year to revive growth and cushion the impact of the pandemic. (Image: Reuters)
4. Crude Oil: Brent crude oil futures rose to just under $50 a barrel on Friday as expectations of a U.S. economic stimulus package and the possibility of a vaccine for the coronavirus overrode rising supply and increased COVID-19 deaths. Brent gained 1.11 percent to settle at $49.25 per barrel after hitting its highest since early March at $49.92. West Texas Intermediate rose settled 0.99 percent higher at $46.26 per barrel after touching a high of $46.68 a barrel.  (Image: AP)
4. Crude Oil: Brent crude oil futures rose to just under $50 a barrel on Friday as expectations of a U.S. economic stimulus package and the possibility of a vaccine for the coronavirus overrode rising supply and increased COVID-19 deaths. Brent gained 1.11 percent to settle at $49.25 per barrel after hitting its highest since early March at $49.92. West Texas Intermediate rose settled 0.99 percent higher at $46.26 per barrel after touching a high of $46.68 a barrel.  (Image: AP)
5. Rupee: Indian rupee, the domestic currency appreciated by 16 paise to 73.77 per US dollar on Friday's opening session as the Reserve Bank of India maintained status quo on benchmark interest rate for the third time in a row. The domestic unit opened at 73.81 per US dollar at the interbank forex market and gained 16 paise to 73.77 against the greenback over its previous close. (Image: Reuters)
5. Rupee: Indian rupee, the domestic currency appreciated by 16 paise to 73.77 per US dollar on Friday's opening session as the Reserve Bank of India maintained status quo on benchmark interest rate for the third time in a row. The domestic unit opened at 73.81 per US dollar at the interbank forex market and gained 16 paise to 73.77 against the greenback over its previous close. (Image: Reuters)
6. Next Meeting Between Govt And Farmers On December 9: The government on Saturday proposed to hold another meeting on December 9 with representatives of protesting farmers, as their fifth round of talks ended in a deadlock with the farmers' group going on a 'maun vrat' (vow of silence) seeking a clear 'yes or no' answer to their demand of repealing three farm laws. Sources said the government proposed another round of meeting on December 9 next week as it sought some time from the unions to present a concrete proposal after further consultations within the government. Agriculture ministry later tweeted that the fifth round of talks has ended. Union leaders said they do not want anything less than the complete repeal of the laws, which they claim are the laws meant to end the mandi system and minimum support price procurement system to give for benefits of corporates. (Image: PTI)
6. Next Meeting Between Govt And Farmers On December 9: The government on Saturday proposed to hold another meeting on December 9 with representatives of protesting farmers, as their fifth round of talks ended in a deadlock with the farmers' group going on a 'maun vrat' (vow of silence) seeking a clear 'yes or no' answer to their demand of repealing three farm laws. Sources said the government proposed another round of meeting on December 9 next week as it sought some time from the unions to present a concrete proposal after further consultations within the government. Agriculture ministry later tweeted that the fifth round of talks has ended. Union leaders said they do not want anything less than the complete repeal of the laws, which they claim are the laws meant to end the mandi system and minimum support price procurement system to give for benefits of corporates. (Image: PTI)
7. WHO On Vaccine Doses: The World Health Organization hopes to have half a billion doses of COVID-19 vaccines available for distribution by the global COVAX initiative in the first quarter of 2021, its chief scientist said on Friday. The initial COVAX plan is to vaccinate the 20 percent of populations at highest risk, including health workers and people aged over 65.
7. WHO On Vaccine Doses: The World Health Organization hopes to have half a billion doses of COVID-19 vaccines available for distribution by the global COVAX initiative in the first quarter of 2021, its chief scientist said on Friday. The initial COVAX plan is to vaccinate the 20 percent of populations at highest risk, including health workers and people aged over 65. "The goal is to get at least 2 billion doses by end of 2021 which will be enough to vaccinate 20 percent of the populations of countries that are part of COVAX," chief scientist Soumya Swaminathan told a Geneva news conference. This would be enough to "bring to an end the acute phase of the pandemic" by reducing mortality and the impact on health systems, she said. (Image: Reuters)
8. Abhijit Sen On Indian Economy: India's economy is likely to contract by around 10 per cent in the current fiscal, eminent economist and former Planning Commission member Abhijit Sen said on Friday. Sen, also an expert on issues related to agriculture, further said that the government would not be able to double farmers' income by 2022.
8. Abhijit Sen On Indian Economy: India's economy is likely to contract by around 10 per cent in the current fiscal, eminent economist and former Planning Commission member Abhijit Sen said on Friday. Sen, also an expert on issues related to agriculture, further said that the government would not be able to double farmers' income by 2022. "We are heading towards 10 per cent negative growth this year (2020-21). It will certainly not beminus 7.5 per cent, it will be worse than that. People are hoping there will be a huge rebound next year, I doubt it ," he told PTI. According to the RBI, the economy is likely to contract by 7.5 per cent in 2020-21. Sen said at the moment, the government is expecting it(rebound) to happen without doing anything. "So that is just hope, actual government spending is less than what was budgeted for," he pointed out.(Image: Reuters)
9. FDI Equity Inflows Cross $500 Billion Mark: Foreign direct investment (FDI) equity inflows into India crossed the $ 500 billion milestone during April 2000 to September 2020 period, firmly establishing the country's credentials as a safe and key investment destination in the world. According to the data of the Department for Promotion of Industry and Internal Trade (DPIIT), the inflows during the period stood at $ 500.12 billion. About 29 percent of the FDI came through the Mauritius route. It was followed by Singapore (21 percent), the US, the Netherlands, Japan (each 7 percent), and the UK (6 percent). India received $ 144.71 billion from Mauritius and about $ 106 billion from Singapore during the period under review. (Image: Reuters)
9. FDI Equity Inflows Cross $500 Billion Mark: Foreign direct investment (FDI) equity inflows into India crossed the $ 500 billion milestone during April 2000 to September 2020 period, firmly establishing the country's credentials as a safe and key investment destination in the world. According to the data of the Department for Promotion of Industry and Internal Trade (DPIIT), the inflows during the period stood at $ 500.12 billion. About 29 percent of the FDI came through the Mauritius route. It was followed by Singapore (21 percent), the US, the Netherlands, Japan (each 7 percent), and the UK (6 percent). India received $ 144.71 billion from Mauritius and about $ 106 billion from Singapore during the period under review. (Image: Reuters)
10. Report On Job Cuts, Salary Adjustments In COVID-19: Job cuts and salary adjustments have not been as widespread as originally apprehended despite the severe impact on the revenue of companies in the aftermath of COVID-19 pandemic, a study has revealed. The CII-Talentonic HR Solutions joint research report on 'Reimagining the Organization for the New Normal: Role of HR' has thrown up several insights. It observed that reducing the headcount has been given seventh priority out of 13 when it comes to what actions were taken to deal with the crises. Moreover, reducing or postponing salary or other payouts has been given ninth priority out of 13. Empowerment has mushroomed as organisations struggled to find the agility and flexibility to deal with the crises. (Image: Reuters)
10. Report On Job Cuts, Salary Adjustments In COVID-19: Job cuts and salary adjustments have not been as widespread as originally apprehended despite the severe impact on the revenue of companies in the aftermath of COVID-19 pandemic, a study has revealed. The CII-Talentonic HR Solutions joint research report on 'Reimagining the Organization for the New Normal: Role of HR' has thrown up several insights. It observed that reducing the headcount has been given seventh priority out of 13 when it comes to what actions were taken to deal with the crises. Moreover, reducing or postponing salary or other payouts has been given ninth priority out of 13. Empowerment has mushroomed as organisations struggled to find the agility and flexibility to deal with the crises. (Image: Reuters)
Published : December 07, 2020 07:53 AM IST
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