Opening Bell

Date Heading Details
27-Jan-2020   08:35 Hrs IST Markets to get gap-down opening of F&O series expiry week <p align="justify">Indian markets ended higher for the second straight session on Friday, tracking rally in banking stocks amid recovery in global equities. Today, the markets are likely to get a gap-down opening of the crucial F&amp;O series expiry week tacking sell-off in the global markets. Also, there will be some cautiousness ahead of Union Budget 2020 to be presented later in the week. There will be some concern with a private report indicating that the country's fiscal deficit for 2019-20 is expected to widen to 3.8%and the upcoming Budget may set a target of 3.5% for 2020-21. There will be some cautiousness with report that India plans to increase import duties on more than 50 items including electronics, electrical goods, chemicals and handicrafts, targeting about $56 billion worth of imports from China and elsewhere. However, some support may come later in the day with report that foreign portfolio investors (FPI) have infused a net sum of Rs 1,624 crore into the Indian capital markets in January so far, buoyed by the signing of the first phase of the US-China trade deal. Also, IMF chief Kristalina Georgieva has said growth slowdown in India appears to be temporary and she expects the momentum to improve going ahead. Traders may take note of report that the government is likely to soon decide on permitting Indian companies to list their equity shares overseas. There will be some buzz in the infra stocks with Union minister Nitin Gadkari's statement that the government plans to complete three of the 22 expressways and green corridors in the next three years, including the flagship Delhi Mumbai Expressway being built at a new alignment. Fertiliser stocks will be in focus with report that the government may consider cut in import duty on raw material used in the fertiliser industry in the forthcoming budget with a view to boost domestic manufacturing in the country. There will be some reaction in jewelry stocks with the commerce ministry data showing that gold imports fell 6.77% to $23 billion during the April-December period of the current financial year. There will be lots of important earnings announcements too, to keep the markets in action.</p><p align="justify">The US markets ended lower on Friday after the Centers for Disease Control and Prevention confirmed the second case of the Chinese coronavirus in the US. Asian markets are trading in red on Monday on growing concerns over the scope of a China virus outbreak. <br></p><p align="justify"></p><p align="justify">Back home, Indian equity bourses sustained their gaining rally on Friday, with Sensex &amp; Nifty ending higher by around 0.55% each. The start of the day was on a cautious note, amid a private report that government's tax revenue shortfall for FY20 is estimated to be at around Rs 2 lakh crore. The revenue shortfall from direct tax sources is being pegged at around Rs 1.5 lakh crore to Rs 1.8 lakh crore, while that from indirect sources is estimated to be at around Rs 30,000 crore to Rs 60,000 crore. But soon, indices staged sharp recovery, as RBI raised the investment limit for foreign portfolio investors in government &amp; corporate bonds. Key benchmarks remained in green terrain with strong gains for the most part of the trading session, on the back of firm cues from the global markets. Traders got encouragement, with&nbsp; a private report stating that deal activity by private venture investors grew by 28 per cent to $48 billion in 2019, propelled by infrastructure bets, but will slow down to under 20 per cent in 2020. Some support also came with reports that the government think-tank Niti Aayog will develop a national data and analytics platform to make all government data accessible to stakeholders in a user-friendly manner. Finally, the BSE Sensex gained 226.79 points or 0.55% to 41,613.19, while the CNX Nifty was up by 67.90 points or 0.56% to 12,248.25.</p>
24-Jan-2020   08:37 Hrs IST Benchmarks likely to make flat-to-negative start <p align="justify">Indian markets snapped 3-day losing streak and ended higher on Thursday led by gains in Banking and IT stocks amid fall in crude oil prices. Today, the start of session is likely to be flat-to-negative tracking mixed cues from global markets. Traders will be concerned over a private report stating that government's tax revenue shortfall for FY20 is estimated to be at around Rs 2 lakh crore. As per the report, the revenue shortfall from direct tax sources is being pegged at around Rs 1.5 lakh crore to Rs 1.8 lakh crore, while that from indirect sources is estimated to be at around Rs 30,000 crore to Rs 60,000 crore. However, some respite may come later in the day with Union Commerce and Industry Minister Piyush Goyal's statement that the Indian economy is well-poised to take off and the government is committed to ensure economic growth. Traders may take note of report that the Reserve Bank of India (RBI) has raised the investment limit for FPIs in government and corporate bonds to bring in more foreign funds into the market. Meanwhile, in the fourth special open market operation (OMO) auctions, the RBI bought Rs 10,000 crore worth of long-term securities and sold Rs 2,950 crore worth of short-term government bonds. There will be some buzz in the Oil &amp; Gas stocks as Oil Minister Dharmendra Pradhan said that India will see an investment of over Rs 4 lakh crore in development of gas supply and distribution infrastructure in the next five years as it chases the target of more than doubling the share of the environment-friendly fuel in its energy basket to 15 percent by 2030. Auto stocks will be in focus as Investment Information and Credit Rating Agency (ICRA) said that demand for two-wheelers in the domestic market is likely to remain weak in the near-term on the back of implementation of BS-VI norms and it expects that the new norms will lead to contraction of volume by 8-10 per cent in FY20. There will be some reaction in Telecom stocks as the government asked the Department of Telecommunications (DoT) not to take any coercive action against telecom companies for non-payment of adjusted gross revenue (AGR) dues until further court orders. There will be lots of earnings reaction based on the performance of the companies, to keep markets in action.</p><p align="justify">The US markets ended mostly higher with marginal gains on Thursday as mixed earnings reports and a worsening viral outbreak unsettled investors. Asian markets are trading mixed on Friday after the world's health body called it a little too early to declare a coronavirus outbreak a global emergency.<br></p><p align="justify"></p><p align="justify">Back home, Indian equity bourses came back in green on Thursday with significant gains of over 0.60% each. The start of the day was on positive note, aided with CRISIL's statement that it expects a recovery in rural demand in the country from March-April onwards owing to an increase in farm incomes, good monsoons and improving urban demand. However, in late morning deals, most of gains got trimmed, amid a private report stating that rising inflation is expected to keep the Reserve Bank of India from cutting rates again until late this year, while an expansionary federal budget due next month attempts to put a floor under rapidly-slowing growth. But, bourses again gained the traction in the second half of session, as asserting that Indian economy is well-poised to take off, Union minister Piyush Goyal said that there is a lot of enthusiasm for making investments in the country. The Commerce &amp; Industry Minister also said the government will hold discussions with Britain &amp; European Union on free trade agreements. Adding more relief, the government decided to introduce several measures to ease the process, considering the difficulties faced by trade and industry in filing of returns. As per the Finance Ministry notification, now GST taxpayers can file their GSTR-3B returns in a staggered manner. Finally, the BSE Sensex gained 271.02 points or 0.66% to 41,386.40, while the CNX Nifty was up by 73.45 points or 0.61% to 12,180.35.<br></p>
23-Jan-2020   08:44 Hrs IST Markets likely to get cautious start on Thursday
22-Jan-2020   08:38 Hrs IST Benchmarks likely to make positive start on Wednesday
21-Jan-2020   08:56 Hrs IST Markets to make pessimistic start
20-Jan-2020   08:43 Hrs IST Markets to get slightly positive start of new week
17-Jan-2020   08:48 Hrs IST Benchmarks likely to make slightly negative start
16-Jan-2020   08:45 Hrs IST Markets likely to get cautious start after weak trade data
15-Jan-2020   08:35 Hrs IST Benchmarks to make negative start on Wednesday
14-Jan-2020   08:40 Hrs IST Markets to open slightly in green; WPI data eyed