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10 things you need to know before the opening bell on October 17

Updated : 2019-10-17 09:09:25

Indian shares are expected to open little changed on Thursday following muted trends in global markets and amid caution over the ongoing Q2 earnings season. We bring to you 10 things — from global markets to a report on India's real estate sector — which could help you trade better today.

1. Asia: Asia markets traded cautiously on Thursday, taking cues from other global markets where weak economic data, persisting trade-war fears, and worries over Brexit kept investors on the sidelines. Japan’s Nikkei 225 and Topix were largely flat in early trade. In South Korea, the Kospi was flat, while Australia’s ASX 200 slipped 0.07 percent as the materials sector fell 1.33 percent. (Image: Reuters)
1. Asia: Asia markets traded cautiously on Thursday, taking cues from other global markets where weak economic data, persisting trade-war fears, and worries over Brexit kept investors on the sidelines. Japan’s Nikkei 225 and Topix were largely flat in early trade. In South Korea, the Kospi was flat, while Australia’s ASX 200 slipped 0.07 percent as the materials sector fell 1.33 percent. (Image: Reuters)
2. US: A gauge of world stock markets was flat on Wednesday as US data that raised concerns about a slowing economy was offset by a solid start to earnings season, while sterling was volatile as negotiations on a Brexit deal continued. The Dow Jones Industrial Average fell 22.82 points, or 0.08 percent, to 27,001.98. The S&P 500 lost 5.99 points, or 0.20 percent, to 2,989.69 and the Nasdaq Composite dropped 24.52 points, or 0.3 percent, to 8,124.18. (Image: Reuters)
2. US: A gauge of world stock markets was flat on Wednesday as US data that raised concerns about a slowing economy was offset by a solid start to earnings season, while sterling was volatile as negotiations on a Brexit deal continued. The Dow Jones Industrial Average fell 22.82 points, or 0.08 percent, to 27,001.98. The S&P 500 lost 5.99 points, or 0.20 percent, to 2,989.69 and the Nasdaq Composite dropped 24.52 points, or 0.3 percent, to 8,124.18. (Image: Reuters)
3. Markets At Close On Wednesday: Indian shares settled Wednesday's trade with marginal gains supported by financials, IT and energy shares. The BSE Sensex closed 93 points higher, or 0.24 percent, to settle Wednesday's trade at 38,599. The NSE Nifty50 also added 36 points, or 0.31 percent, to close at 11,464. Among sectors, IT, finance, pharma, and consumer durables advanced, while bank, FMCG, auto, metal and capital goods declined. Meanwhile, foreign institutional investors bought 686 crores in the cash market while domestic institutional investors bought 1,577 crores. (Image: Reuters)
3. Markets At Close On Wednesday: Indian shares settled Wednesday's trade with marginal gains supported by financials, IT and energy shares. The BSE Sensex closed 93 points higher, or 0.24 percent, to settle Wednesday's trade at 38,599. The NSE Nifty50 also added 36 points, or 0.31 percent, to close at 11,464. Among sectors, IT, finance, pharma, and consumer durables advanced, while bank, FMCG, auto, metal and capital goods declined. Meanwhile, foreign institutional investors bought 686 crores in the cash market while domestic institutional investors bought 1,577 crores. (Image: Reuters)
4. Crude Oil: Oil rose on Wednesday, gaining support due to signs that OPEC and allied producers will continue to curb supplies in December, a weaker U.S. dollar and as traders covered short positions ahead of an industry report on U.S. crude inventories. Brent crude, the global benchmark, rose 68 cents, or 1.16 percent, to settle at $59.42 a barrel. U.S. crude gained 55 cents, or 1.04 percent, to settle at $53.36. (Image: Reuters)
4. Crude Oil: Oil rose on Wednesday, gaining support due to signs that OPEC and allied producers will continue to curb supplies in December, a weaker U.S. dollar and as traders covered short positions ahead of an industry report on U.S. crude inventories. Brent crude, the global benchmark, rose 68 cents, or 1.16 percent, to settle at $59.42 a barrel. U.S. crude gained 55 cents, or 1.04 percent, to settle at $53.36. (Image: Reuters)
5. Currency: The rupee recovered from initial losses to settle 11 paise higher at 71.43 against the US currency on Wednesday, tracking gains in domestic equity markets and softening crude oil prices. Foreign fund inflows also supported the local currency, forex trader said.  At the interbank foreign exchange market, the rupee opened at 71.60 against the US dollar. During the day, the domestic unit fluctuated between a high of 71.36 and a low of 71.71.  (Image: Reuters)
5. Currency: The rupee recovered from initial losses to settle 11 paise higher at 71.43 against the US currency on Wednesday, tracking gains in domestic equity markets and softening crude oil prices. Foreign fund inflows also supported the local currency, forex trader said.  At the interbank foreign exchange market, the rupee opened at 71.60 against the US dollar. During the day, the domestic unit fluctuated between a high of 71.36 and a low of 71.71.  (Image: Reuters)
6. Piyush Goyal On US-India Trade Deal: Commerce Minister Piyush Goyal on Wednesday said that India will maintain a 'slow & steady' approach on the issue of trade deals. Speaking at an event organized by MasterCard in Delhi, the minister added that no trade pact will be rushed through and the government will look at the interests of the country first. The commerce minister also said that trade discussions with USA were progressing well but there were complexities and thus it was taking time.
6. Piyush Goyal On US-India Trade Deal: Commerce Minister Piyush Goyal on Wednesday said that India will maintain a 'slow & steady' approach on the issue of trade deals. Speaking at an event organized by MasterCard in Delhi, the minister added that no trade pact will be rushed through and the government will look at the interests of the country first. The commerce minister also said that trade discussions with USA were progressing well but there were complexities and thus it was taking time. "Our (trade) discussions with U.S. have been going extremely well. Trade deals are not simple, there are lots of complexities and one has to look at the next 10-30 years," he explained. (Image: Reuters)
7. India's Fuel Demand Slips: India's fuel demand slipped to its lowest in over two years in September after a fall in diesel and industrial fuel consumption negated the rise in petrol and LPG consumption. Consumption of petroleum products in September dropped to 16.01 million tonnes, its lowest since July 2017, from 16.06 million tonnes in the same month last year. Diesel, the most used fuel in the country, saw demand drop by 3.2 percent to 5.8 million tonnes, while naphtha sales were down by a quarter to 844,000 tonnes. (Image: Reuters)
7. India's Fuel Demand Slips: India's fuel demand slipped to its lowest in over two years in September after a fall in diesel and industrial fuel consumption negated the rise in petrol and LPG consumption. Consumption of petroleum products in September dropped to 16.01 million tonnes, its lowest since July 2017, from 16.06 million tonnes in the same month last year. Diesel, the most used fuel in the country, saw demand drop by 3.2 percent to 5.8 million tonnes, while naphtha sales were down by a quarter to 844,000 tonnes. (Image: Reuters)
8. Moody's Stable Outlook For Construction Industry: Moody's Investors Service on Wednesday said it expects to slow but still healthy revenue growth of 4 percent on average for rated construction companies over the next 12-18 months, underpinned by healthy construction demand. Although this is much lower than the average 9 percent revenue growth recorded in 2018, it is reflective of the global slowdown in GDP growth and remains supported primarily by infrastructure spending, it said in a statement. (Image: Reuters)
8. Moody's Stable Outlook For Construction Industry: Moody's Investors Service on Wednesday said it expects to slow but still healthy revenue growth of 4 percent on average for rated construction companies over the next 12-18 months, underpinned by healthy construction demand. Although this is much lower than the average 9 percent revenue growth recorded in 2018, it is reflective of the global slowdown in GDP growth and remains supported primarily by infrastructure spending, it said in a statement. (Image: Reuters)
9. Gadkari To Buy Shares Of MSME's Listing: Union Minister Nitin Gadkari on Wednesday said the MSME Ministry has sought a fund of Rs 10,000 crore to buy equity in small businesses wanting to list on the stock exchanges.
9. Gadkari To Buy Shares Of MSME's Listing: Union Minister Nitin Gadkari on Wednesday said the MSME Ministry has sought a fund of Rs 10,000 crore to buy equity in small businesses wanting to list on the stock exchanges. "I believe this 10 percent of our equity will increase by two to three times in 3-4 years. So this will increase the value of our capital so that we can keep rolling this fund as the government alone cannot do all the things in this age and time," the minister for MSME said at the 'India MSE Awards 2019'. (Image: Reuters)
10. South Cities Housing Absorption Slumps: Unlike earlier, the resilient markets of south India are beginning to feel the heat of the overall residential slowdown in 2019, according to a report. As per ANAROCKs recent research, the southern cities of Bengaluru, Hyderabad, and Chennai together saw residential sales decline by five percent in the first three quarters of 2019 against the corresponding period in 2018. The western cities of Pune and MMR (Mumbai Metropolitan Region) raced far ahead and clocked in 33 percent jump in sales over the same period, the real estate services company said.  (Stock Image)
10. South Cities Housing Absorption Slumps: Unlike earlier, the resilient markets of south India are beginning to feel the heat of the overall residential slowdown in 2019, according to a report. As per ANAROCKs recent research, the southern cities of Bengaluru, Hyderabad, and Chennai together saw residential sales decline by five percent in the first three quarters of 2019 against the corresponding period in 2018. The western cities of Pune and MMR (Mumbai Metropolitan Region) raced far ahead and clocked in 33 percent jump in sales over the same period, the real estate services company said.  (Stock Image)
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