Sensex and Nifty are likely to open higher today as the early indicator of NSE Nifty 50 — SGX Nifty Futures — was trading higher, up 0.37% at 9,893 points on the Singapore Stock Exchange. Meanwhile, the US dollar climbed to a one-month high and bond yields rose on Wednesday as risks grew for a US interest rate hike in December, while Asian stocks hovered near multi-week lows as tensions in the Korean peninsula remain elevated.
GST collections: Total GST collection for August touched Rs 90,669 crore, against Rs 94,063 crore mopped up in the first month of the new indirect tax regime rollout. The number includes transitional credit claims of taxpayers in July which according to the government are just Rs 12,000 crore and not Rs 65,000 crore as previously claimed.
Finance Minister Arun Jaitley along with Chief Executive of Afghanistan Abdullah Abdullah will inaugurate an India-Afghanistan Trade and Investment Show ‘Passage to Prosperity’ here today. The three-day event, sponsored by the US, will focus on better regional integration by strengthening economic ties between Afghanistan and India.
Bharti Airtel: India’s largest telecom operator Bharti Airtel yesterday said it has deployed a 5G capable technology, which will offer faster data speeds to consumers and improve network capacity. The deployment of ‘Massive Multiple-Input Multiple-Output (MIMO) technology’, a key driver for futuristic 5G networks, will start from Bengaluru and Kolkata, the company said in a statement.
Reliance Infrastructure: Billionaire Anil-Ambani on Tuesday said that Reliance group’s company Reliance Naval is looking to bid for six submarines contracts worth Rs 40,000 crore. He made the announcement at the Annual General Meeting of its parent company Reliance Infrastructure.Earlier known as Reliance Defence and Engineering Ltd (RDEL), the company was renamed to Reliance Naval to reflect its focus on naval shipbuilding as its principal segment
Yes Bank: Private sector lender Yes Bank said the capital raising committee of the bank will take up the proposal this week to raise up to Rs 20,000 crore by issuing bonds.
Indian rupee on Tuesday
The Indian rupee closed at a fresh 6-month low Rs 65.45, versus Monday’s closing of Rs 65.12, as forex market participants feared fund outflows from the domestic capital markets. US Federal Reserve’s intention to hike rates in December and unwinding of its stimulus measures also added in the weakening of sentiments. The Indian rupee is reeling under pressure because of the increased buying in the safe-haven assets such as gold and yen and the continuous strengthening of the US dollar against a basket of currencies.
Indian markets on Tuesday
Sensex and Nifty closed in red on Tuesday after trading range bound since today morning. BSE Sensex ended down 27 points at 31,599.76 points after shuttling between 31,693 – 31,455 points. NSE Nifty settled 1 point lower at 9,871.5 points. The sell-off in the blue-chip shares Hindustan Unilever, TCS, and HDFC Bank dragged the key indices into negative territory. ONGC shares were the biggest gainer on both the benchmark indices, advanced 4.43% to the day’s high of Rs 171.75 before closing up 3.5% at Rs 170.2 on BSE.
US markets on Tuesday
U.S. stocks ended flat on Tuesday even as technology shares bounced from sharp losses in the prior session and comments from Fed Chair Janet Yellen boosted expectations of a December rate hike. Janet Yellen said the Fed needs to continue gradual rate hikes and it would be imprudent to leave rates on hold until inflation reached the Fed’s 2-percent target. The Dow Jones Industrial Average fell 10.05 points, or 0.05 percent, to 22,286.04, the S&P 500 gained 0.28 points, or 0.01 percent, to 2,496.94 and the Nasdaq Composite added 9.57 points, or 0.15 percent, to 6,380.16.