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What changed for D-Street while you were sleeping

Net-net, foreign portfolio investors (FPIs) were sellers of domestic stocks to the tune of Rs 176 crore on Wednesday, data available with NSE suggested. DIIs were net sellers to the tune of Rs 326 crore, data suggests.

ETMarkets.com|
Last Updated: Jan 23, 2020, 08.08 AM IST
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AP
Stock-market-1---AP
In overnight trade, the S&P500 index rose 0.96 points, or less than 0.1 per cent, to 3,321.75. The index had been up by as much as 0.5 per cent earlier in the day.
NEW DELHI: Dalal Street is likely to see plenty of stock-specific actions on Thursday amid a slew of quarterly earnings released post market hours on Wednesday and some scheduled for later in the day. But for the benchmark indices to recover, global cues need to be strong, which isn't the case right now.

Here’s breaking down the pre-market actions.


TRADE SETUP

Singapore trading sets stage for flat start
Nifty futures on the Singapore Exchange traded 4 points, or 0.03 per cent, higher at 12,144, indicating a flat start for Dalal Street.

Tech view: Nifty forms small bearish candle
Nifty50 dropped for the fourth day in a row on Wednesday and in the process formed a bearish candle on the daily chart. The index closed a tad above the 12,100 level, inside the crucial gap area between 12,130 and 12,040 levels. Analysts said the index appears to be oversold and one cannot rule out emergence of some buying in the coming sessions. But the trend may not emerge unless the index moves beyond the 12,220 level.

Asian stocks edge lower
Asian shares and US stock futures edged lower on Thursday as investors remained anxious about the spread of a new flu-like virus in China just as millions prepared to travel for the Lunar New Year. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.13 per cent. Australian shares were down 0.75 per cent, while Japan's Nikkei stock index slid 0.64 per cent.

US stocks end flat
In overnight trade, the S&P500 index rose 0.96 points, or less than 0.1 per cent, to 3,321.75. The index had been up by as much as 0.5 per cent earlier in the day. The Dow Jones Industrial Average reversed an early gain and fell 9.77 points, or less than 0.1 per cent, to 29,186.27. The Nasdaq composite gained 12.96 points, or 0.1 per cent, to 9,383.77. The Russell 2000 index of smaller company stocks slipped 1.44 points, or 0.1 per cent, to 1,684.46.

Oil prices fall to lowest in 7 weeks
Oil prices fell to their lowest in seven weeks on Thursday on concerns that the spread of a newly identified respiratory virus from China may lower fuel demand at the same time a report showed oil inventories in the United States rose last week. Brent crude futures were down $1.05, or 1.7 per cent, to $62.16 a barrel.

Nippon, HDFC Life to report Q3 earnings today
HDFC Life Insurance Company, Biocon, Canara Bank, PNB Housing, Oriental Bank, Nippon Life Asset Management, JM Financial and Cholamandalam Investment are some of the companies which will report their Decemner quarter earnings today.

DIIs sell Rs 326 crore worth stocks
Net-net, foreign portfolio investors (FPIs) were sellers of domestic stocks to the tune of Rs 176 crore on Wednesday, data available with NSE suggested. DIIs were net sellers to the tune of Rs 326 crore, data suggests.

MONEY MARKETS

Rupee: The rupee strengthened by 2 paise to settle at 71.19 against the US dollar on Wednesday amid easing crude oil prices.

10-year bonds: India 10-year bond yield rose 0.02 per cent to 6.64 after trading in 6.63-6.65 range.

Call rates: The overnight call money rate weighted average stood at 4.94 per cent, according to RBI data. It moved in a range of 3.60-5.25 per cent.

HAPPENING TODAY

  • Q3 Earnings: Biocon | Canara Bank | DB Corp | HDFC Life | PNB Housing | PVR | Nippon Life AMC
  • South Korea Q4 Adv GDP Growth Rate
  • Dec Existing Home Sales

MACROS

Govt may mediate to solve I-T issues with cos
The government may adopt a mediation mechanism that will help companies determine their future tax liabilities and even settle disputes, reports ET. The concept, which is widely prevalent overseas, is being discussed amid preparations for the February 1 budget, the person said. Mediation will allow taxpayers to get a fix on how much they need to pay and avoid disputes. This is expected to bring down litigation substantially.

Mumbai to remain open 24x7 from Jan 27
The Maharashtra Cabinet on Wednesday approved its 'Mumbai 24 hours' policy allowing malls, multiplexes and shops to remain open round-the-clock in the city from January 27. Noting that London's 'night economy' was five billion pounds, state Tourism Minister Aaditya Thackeray told reporters here after the Cabinet meeting that the government's decision could help generate more revenue and jobs, in addition to the existing five lakh people working in the service sector.

Indian biz leaders’ in combat climate change pledge
Philanthropy arms of top corporates, including the Tatas, Mahindras, Godrejs and Premjis, on Wednesday announced a partnership to minimise the climate change impact, reports PTI. The India Climate Collaborative (ICC) will be working to strengthen the climate community locally, build a climate narrative and drive solutions that will ensure both the natural world and people thrive. The announcement comes amid an increased conversation on climate change, with the 50th session of the World Economic Forum in Davos generating the maximum flutter.

WHO to decide on China virus
The World Health Organization (WHO) said it will decide on Thursday whether to declare a global emergency over the outbreak of a new flu-like virus spreading in and beyond China. If it does so it will be only the sixth international public health emergency to be declared in the last decade.

Indian cities to add 100 new malls by 2025
Despite low consumer spending in recent times, mall developers remain bullish on the growth potential of organised retail as 100 new malls spanning over 49 mn sq.ft. are scheduled to come up across the country by 2022-end, property consultant Anarock said. Of the total new mall supply, the top seven cities alone will see 69 new malls spread over 35.5 mn sq.ft. area. The remaining 31 malls over 13.5 mn sq.ft. will come up in tier 2 & 3 cities such as Ahmedabad, Lucknow, Indore, Surat and Nagpur.

India slips on Democracy Index
India slipped 10 places to 51st position in the 2019 Democracy Index's global ranking, according to The Economist Intelligence Unit, which cited "erosion of civil liberties" in the country as the primary cause for the downtrend. India's overall score fell from 7.23 in 2018 to 6.90 in the Index that provides a snapshot of the current state of democracy worldwide for 165 independent states and two territories.

More time to file monthly GST returns
The finance ministry on Wednesday staggered last dates of filling GSTR-3B, a monthly return form, and has provided three dates for different categories of taxpayers, a moved aimed at de-stressing the system. Currently, the last date for filing GSTR-3B is 20th of every month. From now onwards, there will three dates -- 20th, 22nd and 24th -- of every month for different categories of tax payers.

Japan exports drop 6% in Dec
Japan’s exports fell 6.3 per cent in December from a year earlier, Japan’s Ministry of Finance data showed on Thursday, in a sign weak external demand is keeping a lid on the export-reliant economy. That compared with a 4.2 per cent decrease expected by economists in a Reuters poll.
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