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18-Oct-2019   08:35 Hrs IST Markets likely to open marginally in red amid rise in crude oil prices <p align="justify">Indian markets extended their northward journey for fifth straight session and ended higher on Thursday on account of strong global cues. Today, the start of session is likely to be marginally in red amid rise in crude oil prices. Investors will be looking ahead to the market heavy weight Reliance Industries' Q2 numbers to be released later in the day, the company is likely to report decent profit growth in September quarter earnings. There will be some cautiousness with the International Monetary Fund's (IMF) statement that though India has worked on the fundamentals of its economy, there are problems, including the long-term drivers of growth that need to be addressed. It said in India, what is critically important is to continue with addressing the long-term drivers of growth. Investment in human capital in India is a top priority. It has to continue bringing women in the labour force. It is very important. Also, traders will be concerned with report that India is likely to miss its fiscal deficit target of 3.3% of gross domestic product for the current financial year by 30-50 basis points, due to the sharp slowdown in the economy that has severely crimped tax collection goals. However, investors may take some support later in the day, amid positive global cues. Some support may also come with Union Finance Minister Nirmala Sitharaman's statement that investors can find no better place in the world than India that has a democracy loving and capitalist respecting environment. She added that the government was continuously working to bring reforms. Market participant may take note on report that PM Narendra Modi asserted that his government was on course to make India a five-trillion-dollar economy in the next five years despite apprehensions being expressed by experts and the opposition. Aviation stocks will be in focus with the Directorate General of Civil Aviation (DGCA) data showing that domestic air passenger traffic declined for the fourth consecutive month in September, amid a slowing economy and lean travel season. There will be some reaction in FMCG stocks with a private report that the fast-moving consumer goods (FMCG) manufacturers would witness even softer growth in the October-December 2019 period. As per the report, growth in Q4CY19 could be in the range of 6.5-7.5%. There will be some buzz in the jewellery stocks with Gems and Jewellery Export Promotion Council's (GJEPC) statement that the overall gems and jewellery exports is expected to decline of 5-10% in this financial year on the back of US-China trade war, protests in Hong Kong and the implementation of VAT in the Middle East. There will be lots of earnings announcements too, to keep the markets in action.</p><p align="justify">The US markets ended higher on Thursday, after a draft Brexit deal was struck between UK and EU officials, and on the back of solid earnings from more blue-chip companies. Asian markets are trading mostly in green on Friday, tracking gains on Wall Street, but upside remained limited amid concern that the Chinese economy is likely to show weaker growth.<br></p><p align="justify"></p><p align="justify">Back home, last hour rally helped Indian equity markets to end Thursday's session near their intraday high points, with Sensex &amp; Nifty reclaiming their crucial psychological levels of 39,000 and 11,550, respectively. After a cautious start, indices remained flat for the first half of the session, impacted by a report that the Securities and Exchange Board of India is planning to further tighten rules for participatory notes (P-notes), offshore derivative instruments issued by brokers to foreign investors not registered in the country. Sentiments also got hit, after latest data of Reserve Bank of India showed that credit growth at Indian banks has dropped to its lowest level in nearly two years, as slowing domestic consumption weighs on demand. However, key benchmarks gained traction in the second half of the trading session, tracking firm European markets. Market participants took support with Union Finance Minister Nirmala Sitharaman's statement that Prime Minister Narendra Modi's vision of making India a $5-trillion economy and a global economic powerhouse by 2024-25 is ‘challenging' but ‘realisable' and underlined that more reforms are on the anvil before the end of the fiscal year. Traders also got comfort with a private report stating that the digital payment system that has been developed in India not only allows big tech companies to participate in it but also has convenience, ease of use, low cost and financial inclusion. Finally, the BSE Sensex gained 453.07 points or 1.17% to 39,052.06, while the CNX Nifty was up by 122.35 points or 1.07% to 11,586.35.<br></p>
17-Oct-2019   08:35 Hrs IST Markets likely to make cautious start on Thursday <p align="justify">Indian markets ended Wednesday's volatile session in green territory for a fourth consecutive day, mainly on the back of late hour buying. Today, the markets are likely to make a cautious start amid mixed cues from Asian peers and rise in crude oil prices. Traders will be concerned with a report that amidst the deepening slowdown across the economy, commercial credit demand has contracted 2.6 percentage points to Rs 63.80 lakh crore in the June quarter over the three months to March period, accompanied by a steep deterioration in asset quality. Also, there will be some cautiousness with private report that foreign portfolio investor (FPI) interest in Indian corporate bonds has been waning over the last few months, with their investments hitting a 10-month low in October, as the perception on credit risk of Indian companies continued to deteriorate because of slowing demand, rising stress across sectors like real estate and NBFCs and a bearish view on the rupee. However, some support may come later in the day with Finance minister Nirmala Sitharaman's statement that more reforms are on the anvil this fiscal to boost growth as fresh economic data and subdued corporate earnings point to a deeper economic downturn. Traders may take note of Commerce Minister Piyush Goyal's statement that India will maintain a slow &amp; steady approach on the issue of trade deals. Meanwhile, India's fuel demand slipped to its lowest in over two years in September after a fall in diesel and industrial fuel consumption negated the rise in petrol and LPG consumption. The Petroleum Planning and Analysis Cell (PPAC) data showed that consumption of petroleum products in September dropped to 16.01 million tonnes, its lowest since July 2017, from 16.06 million tonnes in the same month last year. Banking stocks will be in focus with report that credit growth at Indian banks has dropped to its lowest level in nearly two years, the latest Reserve Bank of India (RBI) data shows, as slowing domestic consumption weighs on demand. There will be some buzz in the telecom stocks with report that the Telecom Department (DoT) is trying to get more spectrum free in the 3.3-3.6 Ghz band for 5G services. There will be lots of earnings announcements too, to keep the markets in action.</p><p align="justify">The US markets ended lower Wednesday as economic data suggested consumers were holding back on spending in the face of trade tensions and a global economic slowdown. Asian markets are trading mixed on Thursday as soft US retail sales data raised concerns about the health of the world's largest economy.</p><p align="justify">Back home, Indian equity benchmarks managed to settle a volatile session on positive note on Wednesday. The start of the day was optimistic, supported with the Reserve Bank of India's (RBI) data report showing that India's services exports rose by 10.4% to $18.24 billion in August in the current financial year. The services exports or receipts were $16.53 billion in the same month of 2018. It was at $19.08 billion in July this year. Market participants got relief with the World Bank's statement that India has halved its poverty rate since the 1990s and achieved a seven plus growth rate over the last 15 years. It also said that India is both critical to the success of global development efforts, including eliminating extreme poverty, and as an influential leader for global goods. But, volatility emerged over the markets during the session, as the International Monetary Fund (IMF) cut India's GDP growth projection for the year 2019 to 6.1%, which is 1.2% down from its April projections and noted that the Indian economy is expected to pick up the next year at 7.0 % in 2020. The street also got cautious as tax officers expressed concerns over the faceless income tax assessment system initiated by the Central Board of Direct Taxes, saying it will create procedural difficulties and may hit revenue collections. However, indices managed to end in green terrain, after Chief Economic Advisor K V Subramanian called upon the industry to start making investments, stressing that the fundamentals of the economy are very strong. Finally, the BSE Sensex gained 92.90 points or 0.24% to 38,598.99, while the CNX Nifty was up by 35.70 points or 0.31% to 11,464.00.<br></p>
16-Oct-2019   08:47 Hrs IST Benchmarks likely to make optimistic start on Wednesday
15-Oct-2019   08:41 Hrs IST Markets likely to make positive start amid fall in crude oil prices
14-Oct-2019   08:34 Hrs IST Benchmarks to make cautious start amid weak IIP data
11-Oct-2019   08:37 Hrs IST Benchmarks to open in green following Asian peers; IIP data eyed
10-Oct-2019   08:43 Hrs IST Markets to get pessimistic start; TCS result eyed
09-Oct-2019   08:38 Hrs IST Benchmarks likely to make cautious start on Wednesday
07-Oct-2019   08:45 Hrs IST Markets to make cautious start of holiday truncated week
04-Oct-2019   08:44 Hrs IST Markets likely to make slightly positive start ahead of RBI's policy decision