ETMarkets Morning Podcast: What's buzzing on D-Street today?
ETMarkets.com|
Jan 02, 2018, 03.43 PM IST
Hello and welcome to ETMarkets Morning Podacst!
The first day of the New Year didn't turn out to be a happy one for the equity market as Dalal Street ended the day with biggest daily percentage fall in a month, after a mysterious late session selloff. Analysts expect a subdued start to today's session too.
We begin the day on this note, ladies and gentlemen. This is Saloni Goel, your market jockey, with all the news, views and cues.
Nifty futures on the Singapore Stock Exchange were trading lower, indicating a weak start for the Nifty50 in India.
Asian stocks began the new year close to their highest in a decade. MSCI's broadest index of Asia-Pacific shares outside Japan was a fraction firmer after rising by one-third in value last year to heights last visited in 2007. US markets were closed in overnight trade, but S&P500 futures were trading 0.2 per cent higher at 2,681 early Tuesday.
Back home, the rupee staged a robust show in Monday's trade and ended at a fresh five-month high of 63.68 a dollar, gaining 19 paise against the US dollar. Continuing its winning streak, the rupee has strengthened by a solid 47 paise in last three sessions.
Oil prices had their highest January opening since 2014 on Tuesday, supported by ongoing supply cuts led by OPEC and Russia as well as strong demand.
In stock specific news, SBI ushered in a happy new year for about 8 million borrowers with a sharp cut in lending rates for existing customers that will help prevent rivals from poaching them, but it's unlikely to significantly alter costs for others.
The country's largest lender is set to initiate insolvency proceedings against at least a dozen defaulting companies. The country's largest bank in terms of assets will refer Videocon Industries, Visa Steel, Monnet Power, Uttam Steel, Essar Projects, Videocon Telecom, Jaiswal Neco and Jai Balaji to the NCLET starting Tuesday.
Adani Power, staterun Neyveli Lignite and Sembcorp are in race to acquire majority stake in GMR Infrastructure's 1,370-mw Chhattisgarh power plant, reports Sarita Singh. A consortium of lenders to the project is looking to divest their stake under the SDR process.
If you are looking for more stock-specific triggers, there are plenty of them and over a dozen stock recommendations from top brokerages on www.etmarkets.com. If you need them daily, simply download our app on your phone and keep getting them on the go. We now also offer them in many other languages besides English.
Before I go, let's have a look at some of the interesting headlines from ETMarkets print edition.
China and India's billionaires were among the world's fastest wealth creators in 2017 in terms of percentage changes in net worth. China's Ma Huateng, of Tencent Holdings, nearly doubled his wealth to $41.2 billion. India's Mukesh Ambani was the second best: his wealth grew 77%, and the year-end figure was $40.2 billion.
After Indian Overseas Bank offloaded its debt in Bhushan Steel with a 40% haircut, the country's third-largest private-sector lender Axis Bank has decided to put its Rs 2,000 crore loan exposure to the steel company up for sale in the distressed-assets market. Going by the market trend, the bank may get as much as ?1,200 crore.
Lastly, the 8% GOI (Government of India) Savings bond, 2003, long regarded as a safe instrument yielding steady returns to fixed-income investors, shall cease for subscription from January 2.
That's it from me for the day. Thank you for listening. Do enjoy your trading day and make loads of money.
But don't forget to log on to www.etmarkets.com for continuous updates on every development in the financial markets. Have a good day!
The first day of the New Year didn't turn out to be a happy one for the equity market as Dalal Street ended the day with biggest daily percentage fall in a month, after a mysterious late session selloff. Analysts expect a subdued start to today's session too.
We begin the day on this note, ladies and gentlemen. This is Saloni Goel, your market jockey, with all the news, views and cues.
Nifty futures on the Singapore Stock Exchange were trading lower, indicating a weak start for the Nifty50 in India.
Asian stocks began the new year close to their highest in a decade. MSCI's broadest index of Asia-Pacific shares outside Japan was a fraction firmer after rising by one-third in value last year to heights last visited in 2007. US markets were closed in overnight trade, but S&P500 futures were trading 0.2 per cent higher at 2,681 early Tuesday.
Back home, the rupee staged a robust show in Monday's trade and ended at a fresh five-month high of 63.68 a dollar, gaining 19 paise against the US dollar. Continuing its winning streak, the rupee has strengthened by a solid 47 paise in last three sessions.
Oil prices had their highest January opening since 2014 on Tuesday, supported by ongoing supply cuts led by OPEC and Russia as well as strong demand.
In stock specific news, SBI ushered in a happy new year for about 8 million borrowers with a sharp cut in lending rates for existing customers that will help prevent rivals from poaching them, but it's unlikely to significantly alter costs for others.
The country's largest lender is set to initiate insolvency proceedings against at least a dozen defaulting companies. The country's largest bank in terms of assets will refer Videocon Industries, Visa Steel, Monnet Power, Uttam Steel, Essar Projects, Videocon Telecom, Jaiswal Neco and Jai Balaji to the NCLET starting Tuesday.
Adani Power, staterun Neyveli Lignite and Sembcorp are in race to acquire majority stake in GMR Infrastructure's 1,370-mw Chhattisgarh power plant, reports Sarita Singh. A consortium of lenders to the project is looking to divest their stake under the SDR process.
If you are looking for more stock-specific triggers, there are plenty of them and over a dozen stock recommendations from top brokerages on www.etmarkets.com. If you need them daily, simply download our app on your phone and keep getting them on the go. We now also offer them in many other languages besides English.
Before I go, let's have a look at some of the interesting headlines from ETMarkets print edition.
China and India's billionaires were among the world's fastest wealth creators in 2017 in terms of percentage changes in net worth. China's Ma Huateng, of Tencent Holdings, nearly doubled his wealth to $41.2 billion. India's Mukesh Ambani was the second best: his wealth grew 77%, and the year-end figure was $40.2 billion.
After Indian Overseas Bank offloaded its debt in Bhushan Steel with a 40% haircut, the country's third-largest private-sector lender Axis Bank has decided to put its Rs 2,000 crore loan exposure to the steel company up for sale in the distressed-assets market. Going by the market trend, the bank may get as much as ?1,200 crore.
Lastly, the 8% GOI (Government of India) Savings bond, 2003, long regarded as a safe instrument yielding steady returns to fixed-income investors, shall cease for subscription from January 2.
That's it from me for the day. Thank you for listening. Do enjoy your trading day and make loads of money.
But don't forget to log on to www.etmarkets.com for continuous updates on every development in the financial markets. Have a good day!
