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Last Updated : Nov 08, 2019 07:49 AM IST | Source: Moneycontrol.com

What changed for the market while you were sleeping? Top 12 things to know

Trends on SGX Nifty indicate a negative opening for the index in India, with a loss of 48 points. The Nifty futures were trading around 12,010-level on the Singaporean Exchange.

Indian market rose for the second consecutive day in row to hit a fresh record high on Thursday. The S&P BSE Sensex rose to a record high of 40,688.27 while Nifty50 closed above 12,000 for the first time since June.

The final tally on D-Street – the S&P BSE Sensex rose 183 points to a fresh record closing high of 40,653 while the Nifty50 rallied 46 points to close at 12,012.

Close

In terms of sectors, the action was seen in energy, metal, realty, and consumer durable sector while profit-taking was visible in the public sector, oil & gas, capital goods, and auto index.

Stay tuned to Moneycontrol to find out what happens in currency and equity markets today. We have collated a list of important headlines across news platforms which could impact Indian as well as international markets:

Dow Jones, S&P 500 hit record

The Dow and S&P 500 notched record closing highs on Thursday as the latest signs of progress in U.S.-China trade relations relieved investors, but a report raising fresh worries about the outlook for a deal limited the day’s gains.

The Dow Jones Industrial Average rose 182.24 points, or 0.66%, to 27,674.8, the S&P 500 gained 8.4 points, or 0.27%, to 3,085.18 and the Nasdaq Composite added 23.89 points, or 0.28%, to 8,434.52.

Asian Markets:

Asian markets were trading higher after China said it had agreed with the United States to cancel tariffs in phases. MSCI’s gauge of stocks across the globe rose slightly to stand at 543.70, just a hair off the record high of 550.63 reached in January 2018, said a Reuters report.

SGXNifty:

Trends on SGX Nifty indicate a negative opening for the index in India, with a loss of 48 points. The Nifty futures were trading around 12,010-level on the Singaporean Exchange.

India’s Outlook Cut to Negative by Moody’s

India’s credit ratings outlook was cut to negative from stable by Moody’s Investors Service on concern the government won’t be able to help stunted economic growth. Moody’s cited a growing debt burden and the government’s struggle to narrow the budget deficit, said a report.

SEBI permits segregated portfolio of debt market instruments

The Securities and Exchange Board of India (SEBI) November 7 permitted the creation of a segregated portfolio of unrated debt or money market instruments by mutual funds.

Global debt surges to record high $188 trillion

The global debt load has surged to a new all-time record equivalent to more than double the world's economic output, IMF chief Kristalina Georgieva warned November 7.

While private sector borrowing accounts for the vast majority of the total, the rise puts governments and individuals at risk if the economy slows, she said.

SEBI levies Rs 1.32 cr fine on 16 entities:

Markets regulator Securities and Exchange Board of India (SEBI) has imposed a total fine of Rs 1.32 crore on 16 entities for conducting fraudulent trading in the scrip of Polytex India Ltd.

Nine of the 16 entities, including Shree Shagun Financial Services and H Bhavesh Securities and Commodities, had been barred from accessing securities market by SEBI earlier in February 2011 in separate cases.

Govt mulling special window for NBFCs under IBC

The government is mulling a special window for resolution of stressed non-banking finance companies (NBFCs) under the Insolvency and Bankruptcy Code (IBC), a senior government official said.

A special window is certainly something which is being examined closely, the official added.

September Quarter Earnings:

On the earnings front, as many as 180 companies will declare their results for the September quarter that include names like Allahabad Bank, Ashok Leyland, Bank of Baroda, Bharat Forge, CRISIL, Eicher Motors, GAIL India, IDBI Bank, IDFC Ltd, Jaypee Infra, Dr Lal Pathlabs, M&M, Max India, MRF, Nestle India, Novartis India, Religare Enterprises, and Tata Power etc. among others.

Aadhaar as e-KYC for MFs

Markets regulator SEBI's decision to allow Aadhaar as e-KYC for mutual fund investments will be a shot in the arm for the MF industry as it will reduce time for client onboarding and boost mutual fund penetration, feel experts.

On November 5, SEBI issued a detailed circular regarding the process to be followed for Aadhaar-based electronic KYC exercise for domestic investors.

Rupee recovers losses to end flat

The rupee pared its initial losses to settle flat at 70.97 against the US dollar on Thursday after the US-China trade deal hopes enthused investor sentiments.

Institutional Activity:

On the institutional front FPIs were net buyers in Indian equity markets for Rs 926 cr while DIIs were net sellers to the tune of Rs 635 cr, provisional data.

With inputs from Reuters & other agencies

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First Published on Nov 8, 2019 07:49 am
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