• SENSEX
    NIFTY 50
Economy

10 things you need to know before the opening bell on November 26

Updated : 2020-11-26 07:59:41

The Indian stock market is expected to open flat on Thursday as SGX Nifty was trading 9 points higher at 12,982.80, at 7:32 am. This indicates a net-to-net opening for both Sensex and Nifty50.

1. Asia: Stocks in Asia-Pacific declined in Thursday morning trade as investors reacted to minutes released overnight from the U.S. Federal Reserve’s November meeting. Stocks in Japan were lower in early trade, with the Nikkei 225 dipping 0.1 percent while the Topix index shed 0.27 percent. South Korea’s Kospi also traded 0.28 percent lower. Meanwhile, shares in Australia edged down, with the S&P/ASX 200 fractionally lower. MSCI’s broadest index of Asia-Pacific shares outside Japan traded little changed, reported CNBC International. (Image: Reuters)
1. Asia: Stocks in Asia-Pacific declined in Thursday morning trade as investors reacted to minutes released overnight from the U.S. Federal Reserve’s November meeting. Stocks in Japan were lower in early trade, with the Nikkei 225 dipping 0.1 percent while the Topix index shed 0.27 percent. South Korea’s Kospi also traded 0.28 percent lower. Meanwhile, shares in Australia edged down, with the S&P/ASX 200 fractionally lower. MSCI’s broadest index of Asia-Pacific shares outside Japan traded little changed, reported CNBC International. (Image: Reuters)
2. US: The Dow Jones Industrial Average fell on Wednesday, taking a breather after reaching a significant milestone, while traders pored over disappointing unemployment data. The 30-stock Dow slid about 173.77 points, or 0.6 percent, to 29,872.47. The S&P 500 dipped 0.2 percent, or 5.76 points, to 3,629.65 after reaching an all-time closing high in the previous session. The Nasdaq Composite outperformed, rising 0.5 percent, or 57.62 points, to 12,094.40, reported CNBC International. (Image: AP)
2. US: The Dow Jones Industrial Average fell on Wednesday, taking a breather after reaching a significant milestone, while traders pored over disappointing unemployment data. The 30-stock Dow slid about 173.77 points, or 0.6 percent, to 29,872.47. The S&P 500 dipped 0.2 percent, or 5.76 points, to 3,629.65 after reaching an all-time closing high in the previous session. The Nasdaq Composite outperformed, rising 0.5 percent, or 57.62 points, to 12,094.40, reported CNBC International. (Image: AP)
3. Closing Bell On Wednesday: The Indian market fell from its record-highs to end lower on Wednesday after investors booked profits. Banking and financial stocks dragged the most while IT and pharma stocks also weighed on the indices. At close, the Sensex ended 695 points lower to 43,828.10 while the Nifty50 index settled at 12,858.40, down 197 points. 43 out of the 50 Nifty stocks ended with losses. Broader markets underperformed the benchmarks, with the Nifty Midcap 100 index closing 2 percent lower while the Nifty Smallcap 100 index ended 1 percent lower. Barring PSU index, all sectoral indices ended in the negative territory today. The Nifty Realty was the worst-performing sector of the day, down 2.4 percent followed by the Nifty Pharma (-2.18 percent) and the Nifty Auto (-1.9 percent).(Image: Reuters)
3. Closing Bell On Wednesday: The Indian market fell from its record-highs to end lower on Wednesday after investors booked profits. Banking and financial stocks dragged the most while IT and pharma stocks also weighed on the indices. At close, the Sensex ended 695 points lower to 43,828.10 while the Nifty50 index settled at 12,858.40, down 197 points. 43 out of the 50 Nifty stocks ended with losses. Broader markets underperformed the benchmarks, with the Nifty Midcap 100 index closing 2 percent lower while the Nifty Smallcap 100 index ended 1 percent lower. Barring PSU index, all sectoral indices ended in the negative territory today. The Nifty Realty was the worst-performing sector of the day, down 2.4 percent followed by the Nifty Pharma (-2.18 percent) and the Nifty Auto (-1.9 percent).(Image: Reuters)
4. Crude Oil: Oil prices climbed to the highest in more than eight months on Wednesday, after data showed a surprise drop in U.S. crude inventories last week, extending a rally driven by hopes that a COVID-19 vaccine will boost fuel demand. Brent crude was up 47 cents, or 1 percent, at $48.33 a barrel, having risen almost 4 percent in the previous session. West Texas Intermediate crude gained 80 cents, or 1.8 percent, to settle at $45.71 per barrel, after rising more than 4 percent on Tuesday, reported CNBC International. (Image: Reuters)
4. Crude Oil: Oil prices climbed to the highest in more than eight months on Wednesday, after data showed a surprise drop in U.S. crude inventories last week, extending a rally driven by hopes that a COVID-19 vaccine will boost fuel demand. Brent crude was up 47 cents, or 1 percent, at $48.33 a barrel, having risen almost 4 percent in the previous session. West Texas Intermediate crude gained 80 cents, or 1.8 percent, to settle at $45.71 per barrel, after rising more than 4 percent on Tuesday, reported CNBC International. (Image: Reuters)
5. Rupee: The Indian currency closed higher on Wednesday as investor sentiment saw a good response after positive development on the coronavirus vaccine. At the interbank foreign exchange market, the domestic unit opened at 73.98 against the greenback and recorded an intraday high of 73.88. The rupee finally closed at 73.91 against the American currency, registering a rise of 10 paise over its previous close of 74.01, reported PTI. (Image: Reuters)
5. Rupee: The Indian currency closed higher on Wednesday as investor sentiment saw a good response after positive development on the coronavirus vaccine. At the interbank foreign exchange market, the domestic unit opened at 73.98 against the greenback and recorded an intraday high of 73.88. The rupee finally closed at 73.91 against the American currency, registering a rise of 10 paise over its previous close of 74.01, reported PTI. (Image: Reuters)
6. SEBI On Margin In Non-F&O Stocks In Cash Market: Market regulator Sebi has withdrawn the increase in margin for non-F&O stocks in the cash market.
6. SEBI On Margin In Non-F&O Stocks In Cash Market: Market regulator Sebi has withdrawn the increase in margin for non-F&O stocks in the cash market. "Sebi had introduced certain regulatory measures in view of the then-ongoing market volatility and keeping in view the objective of ensuring orderly trading and settlement, effective risk management, price discovery and maintenance of market integrity. The same is in force till November 26, 2020,” reads the circular explaining the rationale. (Image: Reuters)
7. Lakshmi Vilas Bank Moratorium To Be Lifted: After the government approved merger of crisis-ridden Lakshmi Vilas Bank (LVB) with DBS Bank India Ltd (DBIL), the Reserve Bank of India (RBI) on Wednesday said the moratorium on the troubled private sector lender will be lifted on November 27. Further, LVB branches will operate as DBS Bank India branches from November 27, 2020.
7. Lakshmi Vilas Bank Moratorium To Be Lifted: After the government approved merger of crisis-ridden Lakshmi Vilas Bank (LVB) with DBS Bank India Ltd (DBIL), the Reserve Bank of India (RBI) on Wednesday said the moratorium on the troubled private sector lender will be lifted on November 27. Further, LVB branches will operate as DBS Bank India branches from November 27, 2020. "Customers, including depositors of the Lakshmi Vilas Bank Ltd. will be able to operate their accounts as customers of DBS Bank India Ltd. with effect from November 27, 2020," the notification said. The RBI had on November 17 put a moratorium on LVB restricting withdrawals to Rs 25,000 per depositor till December 16. (Company Image)
8. Maharashtra Stamp Duty Cut: A recent CRISIL report on the real estate sector has said that new home sales have seen a surprise surge in the last couple of months bringing it back to pre-pandemic levels in key markets. “Stamp duty cut in Maharashtra has led to demand recovery in industry,” said Mohit Malhotra, MD & CEO of Godrej Properties in an interview to CNBC-TV18. Meanwhile, Sandeep Runwal, Director of Runwal Group said, “Do not think there will be an increase in pricing immediately and do not see any discounting in home prices as of now too.
8. Maharashtra Stamp Duty Cut: A recent CRISIL report on the real estate sector has said that new home sales have seen a surprise surge in the last couple of months bringing it back to pre-pandemic levels in key markets. “Stamp duty cut in Maharashtra has led to demand recovery in industry,” said Mohit Malhotra, MD & CEO of Godrej Properties in an interview to CNBC-TV18. Meanwhile, Sandeep Runwal, Director of Runwal Group said, “Do not think there will be an increase in pricing immediately and do not see any discounting in home prices as of now too." (Image: PTI)
9. BofA On India's GDP Growth: The Indian economy is likely to have improved in the second quarter with GDP printing in at -7.8 percent as against 24 percent contraction in the June quarter, says a BofA report. The government will release the GDP data by the end of the month. House economists at the Wall Street brokerage Indranil Sengupta and Aastha Gudwani further said the economy is likely to close this fiscal year with a current account surplus of 1 percent given the massive contraction in imports. They have also retained their earlier forecast of 7.5 percent GDP contraction as against 11 percent earlier for 2020-21 which is much better than the average forecast of 9.5-11 percent contraction by other analysts. (stock image)
9. BofA On India's GDP Growth: The Indian economy is likely to have improved in the second quarter with GDP printing in at -7.8 percent as against 24 percent contraction in the June quarter, says a BofA report. The government will release the GDP data by the end of the month. House economists at the Wall Street brokerage Indranil Sengupta and Aastha Gudwani further said the economy is likely to close this fiscal year with a current account surplus of 1 percent given the massive contraction in imports. They have also retained their earlier forecast of 7.5 percent GDP contraction as against 11 percent earlier for 2020-21 which is much better than the average forecast of 9.5-11 percent contraction by other analysts. (stock image)
10. Govt On LPG Subsidy Regime For BPCL: CNBC-TV18 learned from sources that the government will grandfather the LPG subsidy regime post-BPCL strategic sale and the oil ministry will seek the Cabinet approval for this shortly. The Oil Ministry has decided to keep BPCL as a divested entity for 3-5 years, which will help in the continuation of the LPG subsidy post the stake sale. The idea is to grandfather the LPG subsidy scheme for around 7.3 crore consumers who use BPCL’s LPG services. (Image: Reuters)
10. Govt On LPG Subsidy Regime For BPCL: CNBC-TV18 learned from sources that the government will grandfather the LPG subsidy regime post-BPCL strategic sale and the oil ministry will seek the Cabinet approval for this shortly. The Oil Ministry has decided to keep BPCL as a divested entity for 3-5 years, which will help in the continuation of the LPG subsidy post the stake sale. The idea is to grandfather the LPG subsidy scheme for around 7.3 crore consumers who use BPCL’s LPG services. (Image: Reuters)
Live TV

recommended for you

Ask Our Experts CNBC TV18

Advertisement