INSUBCONTINENT EXCLUSIVE:
NEW DELHI: As Asian markets took a breather in early trade on Monday, all eyes will be on whether a strong start to the domestic earnings
season can lift sentiment at Dalal Street
traded 31.50 points, or 0.26 per cent, higher at 12,322.50, indicating a firm start for Dalal Street.
Tech view: Nifty may enter consolidate
phaseNifty50 closed above the 12,250 level on Friday after making an all-time high of 12,311
On the daily chart, the index made a bearish candle, as it failed to capitalise on the gap-up start
paused near 19-month peaks on Monday ahead of the expected signing on a Sino-U.S
trade deal, though talks on a phase two package are likely to drag on for months
MSCI's broadest index of Asia-Pacific shares outside Japan barely budged, having hit the highest since mid-2018 last week
Japan's Nikkei was closed for a holiday
E-Mini futures for the S-P 500 edged up 0.1%, to be just off all-time highs.
US markets settled lower on FridayUS stocks finished lower on
Friday, giving up earlier gains, as investors digested the weaker-than-expected jobs data
The Dow Jones Industrial Average index shed 133.13 points, or 0.46 per cent, to 28,823.77
The S-P500 index decreased 9.35 points, or 0.29 per cent, to 3,265.35
The Nasdaq Composite index fell 24.57 points, or 0.27 per cent, to 9,178.86.
Oil prices inch lowerOil prices edged down on Monday as fears
of conflict between the United States and Iran eased, although the decline was checked by the planned signing of an initial US-China trade
deal this week, which could boost demand
Brent crude was down 13 cents, or 0.2 per cent, at $64.85 per barrel
Infy likely to see positive startInfosys audit committee's clean chit
to the top leadership, including CEO Salil Parekh, in the whistleblower case will likely give the company's shares a gap-up start on Monday
Analysts said a 5-10 per cent upside in the stock in the near term cannot be ruled out
The risk-reward looks favourable for Infosys, which trades at nearly 30 per cent discount to peer TCS, said HDFC Institutional
Equities.
FPIs buy Rs 578 crore worth stocksNet-net, foreign portfolio investors (FPIs) were buyers of domestic stocks to the tune of Rs 578
crore on Friday, data available with NSE suggested
DIIs were net sellers to the tune of Rs 252 crore, data suggests.
MONEY MARKETSRupee: The Indian rupee continued its winning run for fourth
session in a row, soaring 27 paise to settle at 70.94 to the US dollar as softening crude oil prices lifted forex market sentiment.
10-year
bonds: India 10-year bond yield rose 0.89 per cent to 6.59 after trading in 6.58-6.66 range.
Call rates: The overnight call money rate
weighted average was 4.96 per cent, according to RBI data
It moved in a range of 3.50-5.25 per cent
HAPPENING TODAYIndia Dec Inflation RateChina Dec car salesUK Nov Balance of TradeUK Nov GDP GrowthUS-China Trade TalksUK Nov Industrial
OutputMACROSDec CPI data to be out todayCPI inflation stood at forty months high of 5.54 per cent in November, up by 92 bps from October
Increase in CPI was mainly led by lower base of food inflation and uptick in prices of vegetables and pulses
For December, Nirmal Bang Institutional Equities sees CPI at 6.92 per cent
It has filed an application urging the Prevention of Money Laundering Act (PMLA) tribunal to vacate the stay clamped by the appellate
will likely tell the income-tax appellate tribunal that six Tata Trusts wrongfully invested in shares of private companies and acted in
breach of the object and purpose specified in their respective trust deeds
The appeal by the trusts against the department, which cancelled their registrations in October last year, is likely to be heard next month
The trusts will argue that they were not in violation of the trust deed and had themselves surrendered their registrations in March
third of its top executives based at local headquarters in Gurgaon, according to people aware of the development
Walmart announced the layoffs of more than 100 senior executives including vice presidents across sourcing, agri-business and the
fast-moving consumer goods (FMCG) divisions at a townhall on Friday
It also plans to shut the Mumbai fulfilment centre, its largest warehouse, and halt new-store expansion in India.
Foreign carriers can't own
aviation ministry has rejected a proposal to relax the Substantial Ownership and Effective Control (SOEC) clause
The government wants to privatise the state-owned national carrier, having failed to sell stakes in it in 2018
The official said there was no precedent of any government ceding control of carriers to overseas ones
companies, armed forces and telecom service providers are likely to be exempted from mandatory issuing of e-invoices under goods and
services tax (GST), said people aware of the matter
"Banks, airlines, telcos and other entities that have direct customer interaction on a large scale may be exempted from filing their
has asked the government to take bold fiscal measures to revive the sector that has reported its worst-ever sales decline in two decades
during 2019, industry sources said
In the upcoming Budget, the auto industry has sought measures, such as reduction in GST rates on vehicles and abolition of duty on import of
lithiumion battery cells, to encourage electric mobility.
No single regime for FPIs, NRIs yetAlmost a year after it was announced, the
financial services regulators and the government are yet to figure out how to bring in a single regime for foreign portfolio investors
chaos.
Asset woes for continue for NBFCsNon-banking finance companies (NBFCs) recovering from a liquidity crisis will face some asset
quality pressures, especially in the auto financing and real estate with large, higher rated companies better prepared to ride the
challenges in the quarter ended December 2019
Analysts said companies like Housing Development Finance Corp Ltd (HDFC), Bajaj Finance and Cholamandalam Finance will continue to take away
market shares from their smaller counterparts with better credit profile and access to low cost funds.
IIP in positive zone after 3
sectors remained in the red
Industrial growth, as measured by the index of industrial production (IIP), rose 1.8% in November compared with a 3.9% contraction in
October, data released on Friday by the statistics office showed, aided by a sharp growth in intermediate goods and a favourable base
effect.
Govt to seek RBI dividend boostThe government plans to push the central bank for a fiscal lifeline in the form of another interim
dividend, as it struggles to meet its expenditure commitments amid a steep revenue shortfall, three sources directly aware of the matter
The fresh call comes just months after the Reserve Bank of India (RBI) approved a Rs 1.76 lakh crore ($24.8 billion) dividend payment to the
government, including Rs 1.48 lakh crore for the current fiscal year.
