• SENSEX
    NIFTY 50
Economy

10 things you need to know before the opening bell on November 25

Updated : 2020-11-25 07:52:23

The Indian market is likely to open higher on Wednesday following a rally in global markets as coronavirus vaccine hopes and fading uncertainty in the US politics boosted sentiment. At 7:00 am, the SGX Nifty was trading 71.00 points or 0.54 percent higher at 13,154.00, indicating a positive start for the Sensex and Nifty50.

1. Asia: Stocks in Asia-Pacific rose in Wednesday morning trade following a record session on Wall Street as coronavirus vaccine hopes and reduced uncertainty in U.S. politics buoy investor sentiment. In Japan, the Nikkei 225 jumped 1.4 percent while the Topix index gained 1 percent. South Korea’s Kospi advanced 0.85 percent. Meanwhile in Australia, the S&P/ASX 200 rose 0.76 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.38 percent higher, reported CNBC International.
1. Asia: Stocks in Asia-Pacific rose in Wednesday morning trade following a record session on Wall Street as coronavirus vaccine hopes and reduced uncertainty in U.S. politics buoy investor sentiment. In Japan, the Nikkei 225 jumped 1.4 percent while the Topix index gained 1 percent. South Korea’s Kospi advanced 0.85 percent. Meanwhile in Australia, the S&P/ASX 200 rose 0.76 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.38 percent higher, reported CNBC International.
2. US: U.S. stock futures rose on Tuesday night following a banner day for three of the for major market benchmarks. Dow Jones Industrial Average futures traded higher by 132 points, or 0.4 percent. S&P 500 futures climbed 0.4 percent and Nasdaq 100 futures advanced 0.6 percent. The Dow broke above 30,000 for the first time on Tuesday, rallying more than 400 points. Tuesday’s rally put the Dow on pace for its biggest monthly gain since 1987, up more than 13 percent, reported CNBC International. (Image: AP)
2. US: U.S. stock futures rose on Tuesday night following a banner day for three of the for major market benchmarks. Dow Jones Industrial Average futures traded higher by 132 points, or 0.4 percent. S&P 500 futures climbed 0.4 percent and Nasdaq 100 futures advanced 0.6 percent. The Dow broke above 30,000 for the first time on Tuesday, rallying more than 400 points. Tuesday’s rally put the Dow on pace for its biggest monthly gain since 1987, up more than 13 percent, reported CNBC International. (Image: AP)
3. Closing Bell On Tuesday: The Indian equity market ended at record-high levels on Tuesday on the back of positive developments over the COVID-19 vaccine that has boosted investors' risk appetite amid growing prospects of speedy global economic recovery. The Sensex ended 514 points to 44,591.56 while the Nifty50 index ended at 13,072.75, up 146 points. Broader markets gained too, with Nifty Midcap100 and Nifty Smallcap100 index closing nearly 1 percent higher. All sectoral indices settled higher today, with Nifty Bank registering the most gains (+2.44 percent) followed by Nifty Auto (+1.70 percent) and Nifty Realty (+1.62 percent).(Image: Reuters)
3. Closing Bell On Tuesday: The Indian equity market ended at record-high levels on Tuesday on the back of positive developments over the COVID-19 vaccine that has boosted investors' risk appetite amid growing prospects of speedy global economic recovery. The Sensex ended 514 points to 44,591.56 while the Nifty50 index ended at 13,072.75, up 146 points. Broader markets gained too, with Nifty Midcap100 and Nifty Smallcap100 index closing nearly 1 percent higher. All sectoral indices settled higher today, with Nifty Bank registering the most gains (+2.44 percent) followed by Nifty Auto (+1.70 percent) and Nifty Realty (+1.62 percent).(Image: Reuters)
4. Crude Oil: Oil rose more than 4% to its highest levels since March as a third promising coronavirus vaccine raised hope for fuel demand recovery and U.S. President-elect Joe Biden began his transition to the White House. Brent crude gained 3.91 percent to settle at $47.86 per barrel. U.S. West Texas Intermediate crude settled 4.3 percent higher at $44.91 per barrel, its highest level since March 6. Both benchmarks reached their highest since March 6, reported CNBC International. (Image: Reuters)
4. Crude Oil: Oil rose more than 4% to its highest levels since March as a third promising coronavirus vaccine raised hope for fuel demand recovery and U.S. President-elect Joe Biden began his transition to the White House. Brent crude gained 3.91 percent to settle at $47.86 per barrel. U.S. West Texas Intermediate crude settled 4.3 percent higher at $44.91 per barrel, its highest level since March 6. Both benchmarks reached their highest since March 6, reported CNBC International. (Image: Reuters)
5. Rupee: The Indian currency settled higher on Tuesday on sustained foreign fund inflows and due to positive developments reported regarding the coronavirus vaccine. Traders said investor risk sentiment improved amid growing hopes of an early rollout and efficacy of Covid-19 vaccines. At the interbank forex market, the domestic unit opened at 74.10 against the US dollar and then touched a high of 73.88 and a low of 74.12 in day trade. The local unit finally ended at 74.01 against the greenback, registering a rise of 10 paise over its previous close of 74.11 on Monday, reported PTI. (Image: Reuters)
5. Rupee: The Indian currency settled higher on Tuesday on sustained foreign fund inflows and due to positive developments reported regarding the coronavirus vaccine. Traders said investor risk sentiment improved amid growing hopes of an early rollout and efficacy of Covid-19 vaccines. At the interbank forex market, the domestic unit opened at 74.10 against the US dollar and then touched a high of 73.88 and a low of 74.12 in day trade. The local unit finally ended at 74.01 against the greenback, registering a rise of 10 paise over its previous close of 74.11 on Monday, reported PTI. (Image: Reuters)
6. MSMEs On ECLGS Amount: Micro, small and medium enterprises (MSMEs) believe that as the demand for credit has been growing, the eligibility criteria under the Emergency Credit Line Guarantee Scheme (ECLGS) has been restrictive, leading to a gap. One-third of the Centre's Rs 3 lakh crore ECLGS for MSMEs remained unutilised till November 12, following which the government decided to extend the scheme till March 31, 2021 and expand it to more sectors under ECLGS 2.0. In Karnataka, the numbers were slightly better than the national figures, with 75 percent or Rs 8,029 crore of the eligible amount of Rs 10,695 crore under the ECLGS 1.0 scheme sanctioned as of October 30, though only 62.28 percent of the total amount had been disbursed. Of the total 3 lakh eligible accounts, 1.46 lakh had received the amount, as per data from the state industries departments. (Image: Reuters)
6. MSMEs On ECLGS Amount: Micro, small and medium enterprises (MSMEs) believe that as the demand for credit has been growing, the eligibility criteria under the Emergency Credit Line Guarantee Scheme (ECLGS) has been restrictive, leading to a gap. One-third of the Centre's Rs 3 lakh crore ECLGS for MSMEs remained unutilised till November 12, following which the government decided to extend the scheme till March 31, 2021 and expand it to more sectors under ECLGS 2.0. In Karnataka, the numbers were slightly better than the national figures, with 75 percent or Rs 8,029 crore of the eligible amount of Rs 10,695 crore under the ECLGS 1.0 scheme sanctioned as of October 30, though only 62.28 percent of the total amount had been disbursed. Of the total 3 lakh eligible accounts, 1.46 lakh had received the amount, as per data from the state industries departments. (Image: Reuters)
7. Chhattisgarh Health Minister On COVID-19 Vaccine: The state Health Minister TS Singh Deo said that the meeting with PM suggested no vaccine before February.
7. Chhattisgarh Health Minister On COVID-19 Vaccine: The state Health Minister TS Singh Deo said that the meeting with PM suggested no vaccine before February. "There was no clarity from PM on who will bear the vaccine cost," added Deo. (Image: Reuters)
8. S&P On Indian Banking Sector: Non-performing loans in the Indian banking sector are likely to witness an uptick and may shoot up to 11 percent of gross loans in the next 12-18 months, S&P Global Ratings said on Tuesday. It said forbearance is ”masking” problem assets for Indian banks arising from COVID-19 and the financial institutions will likely have trouble maintaining momentum after the proportion of Non-performing loans (NPL) to total loans declined consistently so far this year. ”While financial institutions performed better than we expected in the second quarter, much of this is due to the six-month loan moratorium, as well as a Supreme Court ruling barring banks from classifying any borrower as a non-performing asset,” S&P Global Ratings credit analyst Deepali Seth-Chhabria said. (Image: Reuters)
8. S&P On Indian Banking Sector: Non-performing loans in the Indian banking sector are likely to witness an uptick and may shoot up to 11 percent of gross loans in the next 12-18 months, S&P Global Ratings said on Tuesday. It said forbearance is ”masking” problem assets for Indian banks arising from COVID-19 and the financial institutions will likely have trouble maintaining momentum after the proportion of Non-performing loans (NPL) to total loans declined consistently so far this year. ”While financial institutions performed better than we expected in the second quarter, much of this is due to the six-month loan moratorium, as well as a Supreme Court ruling barring banks from classifying any borrower as a non-performing asset,” S&P Global Ratings credit analyst Deepali Seth-Chhabria said. (Image: Reuters)
9. Government On NIIF: The Union Cabinet is likely to consider on Wednesday a proposal to infuse Rs 6,000 crore into the National Investment and Infrastructure Fund (NIIF), a move which will help the entity raise Rs 1.10 lakh crore by 2025 for financing infrastructure projects. According to sources, the fund infusion would be made into the infra debt fund and infra finance company floated by the quasi-sovereign wealth fund. NIIF Strategic Opportunities Fund has set up a debt platform comprising an NBFC Infra Debt Fund and an NBFC Infra Finance Company. The proposal to invest Rs 6,000 crore as equity into NIIF is part of the Aatmanirbhar Bharat 3.0 package announced earlier this month. Remaining equity will be raised from private investors. (Image: Reuters)
9. Government On NIIF: The Union Cabinet is likely to consider on Wednesday a proposal to infuse Rs 6,000 crore into the National Investment and Infrastructure Fund (NIIF), a move which will help the entity raise Rs 1.10 lakh crore by 2025 for financing infrastructure projects. According to sources, the fund infusion would be made into the infra debt fund and infra finance company floated by the quasi-sovereign wealth fund. NIIF Strategic Opportunities Fund has set up a debt platform comprising an NBFC Infra Debt Fund and an NBFC Infra Finance Company. The proposal to invest Rs 6,000 crore as equity into NIIF is part of the Aatmanirbhar Bharat 3.0 package announced earlier this month. Remaining equity will be raised from private investors. (Image: Reuters)
10. SEBI on Karvy Stock Broking: Markets watchdog Sebi on Tuesday confirmed the ban on Karvy Stock Broking Ltd (KSBL) from taking new clients and directed stock exchanges as well as depositories to take appropriate action against the entity and its directors. The regulator passed the final order a year after passing an interim order, wherein it had imposed a ban on KSBL for misusing clients' securities. KSBL has also been prohibited from alienating any of its assets, except with prior permission of the National Stock Exchange (NSE), till the settlement of claims of investors. The final order came after the regulator received a forensic audit report from the NSE in the matter. The bourse has already expelled KSBL from its membership and declared the brokerage house as a defaulter. (Image: Reuters)
10. SEBI on Karvy Stock Broking: Markets watchdog Sebi on Tuesday confirmed the ban on Karvy Stock Broking Ltd (KSBL) from taking new clients and directed stock exchanges as well as depositories to take appropriate action against the entity and its directors.
The regulator passed the final order a year after passing an interim order, wherein it had imposed a ban on KSBL for misusing clients' securities. KSBL has also been prohibited from alienating any of its assets, except with prior permission of the National Stock Exchange (NSE), till the settlement of claims of investors. The final order came after the regulator received a forensic audit report from the NSE in the matter. The bourse has already expelled KSBL from its membership and declared the brokerage house as a defaulter. (Image: Reuters)
Live TV

recommended for you

Ask Our Experts CNBC TV18

Advertisement