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

Updated : October 25, 2019 07:44 AM IST

The Indian market is expected to open flat on Friday tracking modest gains in the global markets as positive earnings offset economic growth concerns. However, concerns over the impact of SC’s order on AGR may tilt the market to the negative zone. The SGX Nifty was trading 14.50 points or 0.12 percent higher at 11,601 at 7:04 AM, indicating a flat start for the Sensex and the Nifty.

1. Asia: Asian shares inched up on Friday, tracking small gains in world markets as positive earnings offset economic growth concerns, while sterling weakened as the prospect of a UK election added fresh uncertainty to Brexit dramas, reported Reuters. In early trade in Asia, MSCI's broadest index of Asia-Pacific shares outside Japan was 0.13 percent higher. Australian shares added 0.66 percent and Japan's Nikkei ticked up 0.15 percent. (Image: AP)
1. Asia: Asian shares inched up on Friday, tracking small gains in world markets as positive earnings offset economic growth concerns, while sterling weakened as the prospect of a UK election added fresh uncertainty to Brexit dramas, reported Reuters. In early trade in Asia, MSCI's broadest index of Asia-Pacific shares outside Japan was 0.13 percent higher. Australian shares added 0.66 percent and Japan's Nikkei ticked up 0.15 percent. (Image: AP)
2. US: The S&P 500 and the Nasdaq rose on Thursday following strong quarterly reports from several technology companies, including Microsoft Corp, but dour results from 3M Co stymied the Dow Jones Industrial Average, reported Reuters. The Dow Jones Industrial Average fell 28.42 points, or 0.11 percent, to 26,805.53, the S&P 500 gained 5.77 points, or 0.19 percent, to 3,010.29 and the Nasdaq Composite added 66.00 points, or 0.81 percent, to 8,185.80. (Image: AP)
2. US: The S&P 500 and the Nasdaq rose on Thursday following strong quarterly reports from several technology companies, including Microsoft Corp, but dour results from 3M Co stymied the Dow Jones Industrial Average, reported Reuters. The Dow Jones Industrial Average fell 28.42 points, or 0.11 percent, to 26,805.53, the S&P 500 gained 5.77 points, or 0.19 percent, to 3,010.29 and the Nasdaq Composite added 66.00 points, or 0.81 percent, to 8,185.80. (Image: AP)
3. Markets At Close On Thursday: The Indian equity benchmark indices ended lower on Thursday after the Supreme Court rejected telecom companies' definition of adjusted gross revenue (AGR).At 3:30 pm, the 30-share BSE Sensex was down 38.44 points or 0.10 percent to trade at 39,020.39, while Nifty50 was trading 21.50 points or 0.19 percent lower at 11,582.60. Nifty PSU Bank was the worst-performing index (down 3.45  percent), while Nifty Realty was the only one in green (up 0.9 percent). Meanwhile, foreign institutional investors sold 73 crores in the cash market while domestic institutional investors sold 739 crores. (Image: Reuters)
3. Markets At Close On Thursday: The Indian equity benchmark indices ended lower on Thursday after the Supreme Court rejected telecom companies' definition of adjusted gross revenue (AGR).At 3:30 pm, the 30-share BSE Sensex was down 38.44 points or 0.10 percent to trade at 39,020.39, while Nifty50 was trading 21.50 points or 0.19 percent lower at 11,582.60. Nifty PSU Bank was the worst-performing index (down 3.45  percent), while Nifty Realty was the only one in green (up 0.9 percent). Meanwhile, foreign institutional investors sold 73 crores in the cash market while domestic institutional investors sold 739 crores. (Image: Reuters)
4. Crude Oil: Oil prices extended their gains on Thursday, with Brent rising above $61 a barrel as a surprise drop in U.S. crude inventories and the prospect of further market-supporting action by OPEC and its allies offset some concern over the outlook for demand. Brent crude ended the session up 50 cents, or 0.8 percent, at $61.67 a barrel, having risen 2.5 percent on Wednesday. West Texas Intermediate (WTI) crude settled 26 cents, or 0.5 percent, higher at $56.23, adding to the previous session's 2.8 percent gain after data showed that U.S. inventories dropped by 1.7 million barrels last week. (Image: Reuters)
4. Crude Oil: Oil prices extended their gains on Thursday, with Brent rising above $61 a barrel as a surprise drop in U.S. crude inventories and the prospect of further market-supporting action by OPEC and its allies offset some concern over the outlook for demand. Brent crude ended the session up 50 cents, or 0.8 percent, at $61.67 a barrel, having risen 2.5 percent on Wednesday. West Texas Intermediate (WTI) crude settled 26 cents, or 0.5 percent, higher at $56.23, adding to the previous session's 2.8 percent gain after data showed that U.S. inventories dropped by 1.7 million barrels last week. (Image: Reuters)
5. Currency: The rupee snapped its five-day winning streak to finish 11 paise lower at 71.02 against the US dollar on Thursday, weighed by unabated foreign fund outflows and a weak trend in domestic equity markets. At the interbank foreign exchange market, the local currency opened on a strong note at 70.79 but lost ground during the day to touch a low of 71.08. It finally settled at 71.02, lower by 11 paise against its previous close. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell by 0.01 percent to 97.48. (Image: Reuters)
5. Currency: The rupee snapped its five-day winning streak to finish 11 paise lower at 71.02 against the US dollar on Thursday, weighed by unabated foreign fund outflows and a weak trend in domestic equity markets. At the interbank foreign exchange market, the local currency opened on a strong note at 70.79 but lost ground during the day to touch a low of 71.08. It finally settled at 71.02, lower by 11 paise against its previous close. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell by 0.01 percent to 97.48. (Image: Reuters)
6. India Vaults To 63rd Position In Ease Of Doing Business: India climbed 14 rungs in the World Bank’s latest ease of doing business rankings to stand at 63 among 190 countries, becoming one of the top 10 most improved countries for the third consecutive time. Last year, India jumped 23 places to reach the 77th position. Ever since the Modi government first came to power, India’s ranking has improved 79 places from 142nd in 2014 to 63rd in 2019, a record for a major economy. (Image: AP)
6. India Vaults To 63rd Position In Ease Of Doing Business: India climbed 14 rungs in the World Bank’s latest ease of doing business rankings to stand at 63 among 190 countries, becoming one of the top 10 most improved countries for the third consecutive time. Last year, India jumped 23 places to reach the 77th position. Ever since the Modi government first came to power, India’s ranking has improved 79 places from 142nd in 2014 to 63rd in 2019, a record for a major economy. (Image: AP)
7. SC Order On Telecom AGR Rejected: In a setback to telecom service providers, the Supreme Court on Thursday allowed the Centre's plea to recover adjusted gross revenue (AGR) of about Rs 92,000 crore from them. A three-judge bench upheld the definition of adjusted gross revenue formulated by the Department of Telecom (DoT). The bench made it clear that there would no further litigation on the issue and it would fix a time frame for calculation and payment of dues by the telecom companies. In an affidavit filed in the top court, the DoT said that as per calculations, Airtel owes Rs 21,682.13 crore as a licence fee to the government. Dues from Vodafone totalled Rs 19,823.71 crore, while Reliance Communications owed a total of Rs 16,456.47 crore, the DoT said. (Image: AP)
7. SC Order On Telecom AGR Rejected: In a setback to telecom service providers, the Supreme Court on Thursday allowed the Centre's plea to recover adjusted gross revenue (AGR) of about Rs 92,000 crore from them. A three-judge bench upheld the definition of adjusted gross revenue formulated by the Department of Telecom (DoT). The bench made it clear that there would no further litigation on the issue and it would fix a time frame for calculation and payment of dues by the telecom companies. In an affidavit filed in the top court, the DoT said that as per calculations, Airtel owes Rs 21,682.13 crore as a licence fee to the government. Dues from Vodafone totalled Rs 19,823.71 crore, while Reliance Communications owed a total of Rs 16,456.47 crore, the DoT said. (Image: AP)
8. FM Nirmala Sitharaman On Ease Of Doing Business: Finance minister Nirmala Sitharaman held a press conference to highlight the achievement. Sitharaman confirmed a CNBC-TV18 newsbreak when she announced that for the next survey, World Bank will add Bengaluru and Kolkata to its list. Currently, the survey is held in Delhi and Mumbai. Starting a business still remains an area that needs improvement. The finance minister said,
8. FM Nirmala Sitharaman On Ease Of Doing Business: Finance minister Nirmala Sitharaman held a press conference to highlight the achievement. Sitharaman confirmed a CNBC-TV18 newsbreak when she announced that for the next survey, World Bank will add Bengaluru and Kolkata to its list. Currently, the survey is held in Delhi and Mumbai. Starting a business still remains an area that needs improvement. The finance minister said, "Starting a business is very critical. We have improved only by 1 rank. Will make efforts to improve our ranking." (Image: Reuters)
9. Private Equity Exits Drop 70% In 2019: Going gets tough for private equity firms in India with exits dropping sharply by about 70 percent, reported  Live Mint . The fall in the fortune of equity firms comes amidst the economic slowdown and volatility in the market. “Multiple factors have contributed to a weak 2019 in terms of exits. Globally, oversupplied venture capital markets have created a disconnect between valuations and exit markets, and some of this is true in India as well. Also, public markets in India have seen a weak year so far,
9. Private Equity Exits Drop 70% In 2019: Going gets tough for private equity firms in India with exits dropping sharply by about 70 percent, reported Live Mint. The fall in the fortune of equity firms comes amidst the economic slowdown and volatility in the market. “Multiple factors have contributed to a weak 2019 in terms of exits. Globally, oversupplied venture capital markets have created a disconnect between valuations and exit markets, and some of this is true in India as well. Also, public markets in India have seen a weak year so far," Gopal Jain, managing partner of PE firm Gaja Capital was quoted as saying in the report. (Image: Reuters)
10. Sugar Output May Drop In 2019-20: The country's sugar production is expected to decline by 12.38 percent to 28-29 million tonnes in the 2019-20 marketing season starting this month, due to sharp fall in the output in Maharasthra, a senior Food Ministry official said on Thursday. Sugar output stood at 33.1 million tonnes during the 2018-19 marketing year (October-September).
10. Sugar Output May Drop In 2019-20: The country's sugar production is expected to decline by 12.38 percent to 28-29 million tonnes in the 2019-20 marketing season starting this month, due to sharp fall in the output in Maharasthra, a senior Food Ministry official said on Thursday. Sugar output stood at 33.1 million tonnes during the 2018-19 marketing year (October-September). "After taking inputs from the sugarcane growing states, total sugar output for the current year has been pegged at 28-29 million tonnes," the official told PTI. The fall in overall output is mainly due to the expected drastic decline in the sugar production in Maharashtra, the country's second-largest producer of the sweetener, because of floods and drought, the official said. (Image: Reuters)
Published : October 25, 2019 07:43 AM IST
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