Market Movers: Top triggers for your day on D-Street
Good morning! Here’s a lowdown on top macro triggers that may move market on Monday. This report was compiled from agency feeds.
Oil nudges up after Friday plunge Oil prices won back some ground after hefty losses on Friday, but remained under pressure with Brent crude below $60 per barrel amid weak fundamentals and struggling financial markets. Front-month Brent crude oil futures LCOc1 were at $59.20 per barrel at 0049 GMT, up 40 cents, or 0.7%, from their last close. US WTI crude futures CLc1, were up 16 cents, or 0.3%, at $50.58 per barrel. Oil prices dived 8% on Friday for the biggest weekly losses in nearly three years. Indian consumers do not seem to be getting the full benefit of the oil crash. Diesel and petrol have fallen 7-11% since early October, even as international fuel prices, are down by a quarter.
Xi-Trump meet this week, dollar up With the US-China trade dispute still very much a wildcard, this week’s meeting between President Donald Trump and Xi Jinping of China at the sidelines of the Group of 20 leaders’ summit in Buenos Aires may turn out to be a watershed moment for emerging markets. The dollar rose versus its major peers on Monday, as investors sought shelter in safe haven currencies as fears of a global growth slowdown and U.S.-Sino trade tensions sapped risk appetite.
CP issuers may have to divulge more info Corporates, non-banking finance companies (NBFCs) and other businesses may soon have to disclose key information for issuing commercial papers (CPs) — an unsecured, convenient instrument to borrow short-term fund — to mutual funds (MFs), the largest investor group, reports The Economic Times. The proposed move would compel CP-issuing companies to spell out their ‘asset-liability (AL) mismatch’ that has deepened the stress in the financial markets.
TV, home appliances may cost more from Dec Prices of TV and home appliance are set to increase as the consumer durable makers are reviewing their selling price post festive season sales amid tight margins. In order to ensure smooth festive season sale, consumer durable manufacturers had temporarily absorbed impacts on their input costs, following the depreciation of the Indian rupee against US dollar and increase in custom duty.
IL&FS to put up to 10 group companies on sale Following an "overwhelming response" to buy units of debt-ridden Infrastructure Leasing and Financial Services Ltd (IL&FS), its state-appointed board will soon put on sale another 8 to 10 subsidiaries, an official said on Saturday. The infrastructure finance company, whose board was superseded by the government early last month after it defaulted on payment dues triggering liquidity concerns, had invited EoIs for two of its units last week. .
Easier retail norms likely for ease of biz The government plans to ease regulations to promote retail trade in the country in a bid to take India into top 50 in the World Bank’s global Ease of Doing Business ranking, three people familiar with the development said.
DoT may go for reverse auction of bandwidth The Department of Telecommunications (DoT) is considering a reverse auction to ensure the government manages to raise money from sale of bandwidth to meet fiscal needs without adding to the financial stress of mobile phone operators. Under the reverse auction model, all bands can be put up for auctions. The bandwidth which get any response automatically sees a cut, say of 10% in the reserve price. This is repeated till a floor cap of say 25% below the reserve price is hit.
POLICIES & MORE
Top Video Consumer business has very strong scope for growth over next few years: Adi Godrej
