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What changed for the market while you were sleeping? Top 15 things to know

Asian shares snoozed near 18-month highs on Friday as trade thinned in the run-up to Christmas and investors seemed content to digest the chunky gains already made so far this month, said a Reuters report.

December 20, 2019 / 08:16 AM IST

Indian market rose to fresh record highs for the third consecutive day in a row on December 19. The S&P BSE Sensex hit a record high above 41,700 for the first time while the Nifty50 surpassed 12,250.

The S&P BSE Sensex hit a record high of 41,719 while the Nifty50 rose to a lifetime high of 12,268.

Let’s look at the final tally on D-Street – the S&P BSE Sensex rose 115 points to 41,673 while the Nifty50 closed with gains of 38 points to 12,259. Both Sensex and Nifty ended at the fresh record closing highs.

The action was seen in telecom, energy, auto, IT, and oil & stocks while profit-taking was seen in capital goods, realty, and banking stocks.

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Not just Sensex and Nifty but 69 stocks on the BSE hit a fresh 52-week high which includes names like Dixon Tech, SRF, Crisil, Kotak Bank, RIL, HDFC Bank, Avanti Feeds, Aditya Birla Fashion, etc. among others.

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:

US Markets:

Wall Street’s major indexes resumed their rally with fresh records on Thursday as US Treasury Secretary Steven Mnuchin said an initial US-China trade deal would be signed in early January, said a Reuters report.

The Dow Jones Industrial Average rose 136.59 points to 28,375.87, the S&P 500 gained 14.13 points to 3,205.27 and the Nasdaq Composite added 59.48 points to 8,887.22.

Asian Markets:

Asian shares snoozed near 18-month highs on Friday as trade thinned in the run-up to Christmas and investors seemed content to digest the chunky gains already made so far this month, said a Reuters report.

Japan's Nikkei inched up 0.1 percent after reaching a 14-month top earlier in the week. It was ahead by 2.5 percent for the month so far. South Korea's market added 0.25 percent on the day and 5.5 percent for December.

SGX Nifty

Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 2 points gain or 0.02 percent. The Nifty futures were trading around 12,275-level on the Singaporean Exchange.

Imperative that monetary and fiscal policies work in close coordination: RBI Policy minutes

Reserve Bank of India (RBI) Governor Shaktikanta Das called for close coordination between measures taken by the central bank and the government in order to address the current slowdown in the economy, according to the minutes of the December policy review meeting.

The RBI, on December 19, released the minutes of the Monetary Policy Committee (MPC) meeting held on December 5.

US-China to sign 'Phase one' trade pact in early January

US Treasury Secretary Steven Mnuchin said on December 19 the United States and China would sign their so-called Phase one trade pact at the beginning of January, adding that it was completely finished and just undergoing a technical "scrub."

US House passes new North American trade deal replacing NAFTA

The US House of Representatives overwhelmingly approved a new North American trade deal on Thursday that includes tougher labor and automotive content rules but leaves $1.2 trillion in annual US-Mexico-Canada trade flows largely unchanged.

The House passed legislation to implement the US-Mexico Canada Agreement 385-41, with 38 Democrats, two Republicans and one independent member voting no, said a Reuters report.

RBI to carry out US-style 'Operation Twist'

In a first, the Reserve Bank of India (RBI) announced a simultaneous sale and purchase of government bonds under the Open Market Operations mechanism, on lines of the “Operation Twist” that was last adopted by the US Federal Reserve in 2013.

Under the OMO, RBI will sell four securities maturing in 2020 and will purchase the 6.45 percent government bond maturing in 2029.

As per the minutes, MPC member and RBI executive director Micheal Patra said that the weakness in the real economy is likely to continue, if not weaken further, into the third quarter.

UTI AMC files IPO papers with SEBI

UTI AMC, the largest asset management company in India in terms of total asset under management (AUM), has filed draft red herring prospectus (DRHP) with the capital market regulator SEBI on December 19.

The IPO of 38,987,081 equity shares comprises an offer for sale by five selling shareholders -- State Bank Of India (10,459,949 equity shares), Life Insurance Corporation Of India (10,459,949 shares), Bank Of Baroda (10,459,949 shares), Punjab National Bank (38,03,617 shares) and T Rowe Price International (38,03,617 shares).

GST compensation required by 9 large states could double: ICRA

GST compensation payment of nine select states, including Gujarat, Maharashtra, and Kerala, is expected to double to Rs 60,000-70,000 crore in 2019-20, according to a report.

The timing of the release of such grants by the Government of India (GoI) to these states would critically affect their cash flows, ICRA said in a report.

Investment in real estate up 9% at Rs 43,780 cr in 2019

Investment in the Indian real estate sector is estimated to have increased by 9 percent to Rs 43,780 crore during this calendar year on higher inflow from foreign funds, according to global property consultant Colliers. Office properties attracted 46 percent of the total inflow and received nearly Rs 20,000 crore this year.

Foreign funds accounted for about 78 percent of the total investments in 2019– the highest share ever. During 2020, Colliers projects inflows of $6.5 billion (Rs 46,170 crore) into the real estate sector.

We are killing the telecom industry: Sunil Mittal

Billionaire Sunil Bharti Mittal on December 19 said a combination of rock-bottom tariffs and high consumption is killing the telecom industry and sector regulator Trai needs to urgently intervene to strike a balance between the needs for protecting investments and consumer interest. "...but, I think we need to have a balance between the requirement of investments and consumer on the other side," Mittal, chairman of Bharti Airtel, told reporters after a pre-Budget meeting between Finance Minister Nirmala Sitharaman and corporate leaders.

SEBI reshuffles portfolios of executive directors

Capital and commodity market regulator Securities and Exchange Board of India (SEBI) has reshuffled the portfolios of its executive directors.

Newly-inducted executive director VS Sundaresan has got two portfolios, including the integrated Surveillance Department and Commodity Market Regulation department while Babita Rayudu will take charge from January 1 as executive director of legal affairs, enforcement department and special enforcement cell.

Rupee ends 6 paise lower against dollar:

The Indian rupee depreciated by 6 paise to close at 71.03 against the US dollar on December 19 as a steady rise in crude oil prices weighed on investor sentiment.

Institutional Activity:

FPIs were net buyers in Indian equity markets for Rs 739 cr while DII were net sellers to the tune of Rs 493 cr, provisional data showed.

One stock under F&O ban on NSE

Yes Bank is under the F&O ban for December 20. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.

Note: With inputs from Reuters, PTI & other agencies
Kshitij Anand is the Editor Markets at Moneycontrol.
first published: Dec 20, 2019 07:32 am

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