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Market Ahead, January 9: Crude, Rupee, US-China trade talks to impact sentiment today
Today on Market Ahead: 1. Asian shares edge up on U.S.-China trade optimism, oil climbs 2. Lenders want Goyal to quit Jet's board; SBI gets ready to pick up stake 3. Crude, Rupee, US-China trade talks to impact sentiment today
The markets are likely to take cues from movement in rupee, crude oil and other global factors such as United States and China trade talks, heading into trade on Wednesday.
 
The rupee on Tuesday plunged by 53 paise to close at 70.21 against the US dollar amid renewed concerns over widening of current account deficit following constant rise in global crude oil prices.
 
Among individual stocks, Bajaj corporation, Delta corporation, IndusInd Bank will be in focus as these companies are slated to announce their December quarter earnings in the day.
 
The Nifty futures on the Singapore Exchange (SGX) were trading at 10,912, up 74 points in early trade.
 
Asian shares inched up on Wednesday, supported by optimism the United States and China can strike a trade deal to avoid an all-out confrontation that will severely disrupt the global economy. The United States and China will continue trade talks in Beijing for an unscheduled third day on Wednesday, amid signs of progress on issues including purchases of US farm and energy commodities and increased access to China’s markets  
 
Japan's Nikkei rose 0.9 per cent while MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.3 per cent.
 
On Wall Street, the Dow Jones Industrial Average jumped 1.09 per cent to end at 23,787.45 points, while the S&P 500 gained 0.97 per cent to 2,574.41. The Nasdaq Composite added 1.08 per cent to 6,897.00.
 
US crude oil prices on Wednesday rose above $50 per barrel for the first time in 2019 on hopes that Washington and Beijing can resolve a trade dispute that has triggered a global economic slowdown.

As lenders, led by State Bank of India, are firming up a way ahead for ailing private carrier Jet Airways, the future role of promoter Naresh Goyal, his stake in the airline and the composition of the board could steer the direction of talks between the two sides, sources in the banking industry said.
 
While bankers met top executives of Jet on Tuesday to discuss the financial state of the airline and how loans of over Rs 8,000 crore could be recast, it is learnt that SBI could possibly consider converting its debt to equity in the Goyal-led company. Also, lenders are clear that Goyal must step down from the Jet board, though there could be an arrangement by which he may continue his association with the airline in a non-executive capacity.