10 things you need to know before the opening bell on November 11

SUMMARY

Indian shares are likely to open little changed on Monday on the back of muted global trades and amid concerns of slowing economic growth. The SGX Nifty futures traded at 13.5 points, or 0.11 percent lower at 11,933.50, indicating a flat start for the Sensex and the Nifty50. We bring to you top 10 vital things to keep in mind before getting into trade today.

By CNBC-TV18Nov 11, 2019 7:46:18 AM IST (Updated)

1. Asian shares edged higher on Monday after US President Donald Trump said over the weekend that trade talks with China were moving along "very nicely", though uncertainty remained over whether a deal would be signed this year, reported Reuters. Japan's Nikkei was up 0.2 percent. Australian shares rose 0.5 percent to a two-week high while South Korea's KOSPI was off 0.2 percent. That left MSCI's broadest index of Asia-Pacific shares outside Japan 0.05 percent firmer at 534.63, testing a recent six-month peak.

2. US: The three major US stock indexes posted record closing highs and the S&P 500 registered a fifth straight week of gains on Friday as investors brushed aside worries over the progress of US-China trade talks. The Dow rose 6.44 points to 27,681.24, the S&P 500 gained 7.9 points to 3,093.08 and the Nasdaq added 40.80 points to 8,475.31.

3. Markets At Close On Friday: The Indian benchmark indices fell on Friday after rating agency Moody's cut India's outlook to 'negative' from 'stable' amid concerns that the country’s economic growth will remain “materially lower than in the past." Nomura also cut India's GDP growth guidance for FY19 & FY20 following Moody's outlook revision. The Sensex ended the day 330.13 points lower to end at 40,323 while, the broader Nifty50 index lost 103.90 points to end the day at 11,908.15. Meanwhile, foreign institutional investors bought 932 crores in the cash market while domestic institutional investors sold 584 crores.

4. Crude Oil: Oil prices pared losses on Friday, ultimately finishing the session higher while also posting a gain for the week. Earlier in the session prices fell more than 1% following comments from U.S. President Donald Trump that he has not agreed to roll back tariffs on China. Brent crude, the global benchmark, gained 26 cents to settle at $62.56 a barrel, after gaining 0.9 percent in the previous session. U.S. West Texas Intermediate (WTI) crude gained 9 cents, or 0.2 percent, to settle at a 6-week high of $57.24.

5. Currency: The rupee on Friday plummeted by 31 paise to hit an over three-week low of 71.28 against the US dollar after Moody's Investors Services cut India's rating outlook to negative citing growth concerns. Moody's has changed the outlook on the country's ratings to 'negative' from 'stable', saying there was increasing risks that economic growth will remain materially lower than the past. At the interbank foreign exchange, the Indian currency opened lower at 71.26 and fell further to 71.33 to the US dollar. It finally settled at 71.28 a dollar, a dip of 31 paise over its previous close. This was the lowest closing level for the Indian unit since October 16.

6. India US Trade Talks: US andIndian trade negotiators ended talks on Friday without making major progress on a range of disputes over tariffs and other protectionist measures imposed by both sides that are straining bilateral ties, according to officials with knowledge of the discussions. "No breakthrough," said one of the seniorIndian officials involved in the talks in New Delhi that went on for a little over three hours. He declined to make any further comment. Friday's talks were more about understanding each other's positions in various disputes, they said.

7. Proceeds From Divestments Decline: The proceeds from government disinvestment currently stand at Rs 12,995.46 crore with the inclusion of Rs 637.97 crore realized from the initial public offer (IPO) of Indian Railway catering arm Indian Railway Catering and Tourism Corporation (IRCTC), according to Department of Investment and Public Asset Management (Dipam) data. The government's disinvestment target for the current fiscal is Rs 1.05 lakh crore. Although a very small amount has been generated so far through divestments, market analysts believe the sale of the government's 53.29 percent stake in BPCL could alone fetch at least Rs 57,000 crore or 53.5 percent of the fiscal's disinvestment revenue target. (Stock Image)

8. The net inflow in equity or growth-oriented mutual funds was recorded at around Rs 6,015 crore, the lowest in five months. According to data from the Association of Mutual Funds India (AMFI), the net inflow in open-ended equity-oriented funds was Rs 6,026.38 crore, while the close-ended equity-oriented plans witnessed a net outflow of Rs 11.40 crore, taking the aggregate net inflow to Rs 6,014.98 crore.

9. Real Estate Stress Fund Exclusion: Although finance minister Nirmala Sitharaman's announcement of Rs 25,000 crore fund for stalled projects brought relief to the real estate players and distressed home buyers, a section of home buyers rue their exclusion from the special aid. Significantly, the major stalled projects under the public gaze in the National Capital Region (NCR) — the projects of Jaypee Infratech, Amrapali, and Unitech — have been excluded from the ambit of the fund on the ground of the ongoing judicial procedures in the projects. The fund would not be used to support projects which are facing litigations in high courts and the Supreme Court, people in the know said.

10. SEBI Extends UPI Implementation's 2nd Phase: Markets regulator Sebi on Friday extended till March 2020 the timeline for second phase implementation of the Unified Payments Interface (UPI) facility for retail investors applying for shares in public issues.

The second phase was to be implemented on July 1, 2019. The decision has been taken after consultation with various intermediaries and the National Payments Corporation of India (NPCI). Sebi, in November, announced that it would launch UPI as an alternative payment option for retail investors to buy shares in a public issue in a phased manner from January 1, 2019, a move aimed at reducing the listing time for an IPO to three days from six.