You are here: Home » Markets » News
Business Standard

Market Ahead, Dec 5: All you need to know before the Opening Bell

Investors will await the RBI monetary policy decision today amid high expectations of another round of reduction in the key policy rate to revive the sagging economy

BS Web Team  |  New Delhi 

Investors will await the RBI monetary policy decision today amid high expectations of another round of reduction in the key policy rate to revive the sagging economy. If the RBI cuts the repo rate today, it would be the sixth reduction in the short-term lending rate this year.

will also react to some developments in the telecom sector. First, Bharti Airtel has announced a $3-billion fund raising, including through QIPs, mainly to pay dues linked to the AGR as directed by the Supreme Court recently.

Secondly, Jio has followed Voda Idea and Airtel in raising tariff. Jio's updated tariff plans will be applicable from December 6.

In a crucial development yesterday, the Union Cabinet approved the launch of India’s first bond ETF which can be bought and sold like any listed security on the bourses.

Beside these, investors will continue to monitor Rupee's trajectory against the dollar, oil price movement, and foreign fund flow for further cues.

The overall market sentiment is likely to get a boost from US President Donald Trump’s remarks that talks with China on an interim trade deal were going “very well.” Moreover, a Bloomberg report said that the world’s two largest economies were closer to agreeing how many tariffs would be rolled back in a “phase one” trade deal.

As a result, Wall Street rebounded on Wednesday. The Dow Jones Industrial Average, the S&P 500, and and the Nasdaq Composite all closed over 0.5 per cent higher. Asian stocks edged up on Thursday. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3 per cent. Australian shares were up 0.9 per cent, while Japan's Nikkei stock index rose 0.81 per cent.

Oil prices surged more than 3 per cent on Wednesday ahead of the meet of OPEC, Russia and other allies, known as OPEC+ slated for today and tomorrow. As a result, Brent crude futures ended the session up $2.18 at $63 a barrel.

Yesterday, buying in the final hour dragged domestic indices to a higher close. Sensex climbed 0.43 per cent to close at 40,850, while Nifty reclaimed the psychological mark of 12,000 and closed 0.41 per cent higher at 12,043.

Going forward, analysts say the action of optimism for fresh buys are visible in sectors like metals, consumer durables, IT and banking stocks.

In the end, we will leave with a trading idea by CapitalVia Global Research which recommends buying NMDC Limited above Rs 115 for the target of Rs 130 with a stop-loss at Rs 106.

MONTHLY STAR

Business Standard Digital

Business Standard Digital Monthly Subscription
149.00  
subscribe
Complete access to the premium product
Convenient - Pay as you go
Pay using Master/Visa Credit Card & ICICI VISA Debit Card
Auto renewed (subject to your card issuer's permission)
Cancel any time in the future
Requires personal information

What you get?

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all the content on any device through browser or app.
  • Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.
  • 18 years of archival data.

NOTE :

  • The product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the email with the cancellation request to assist@bsmail.in. Include your contact number for speedy action. Requests mailed to any other ID will not be acknowledged or actioned upon.

SMART MONTHLY

Business Standard Digital

Business Standard Digital - 12 Months
1499.00
subscribe
Get 12 months of Business Standard digital access
Single Seamless Sign-up to Business Standard Digital
Convenient - Once a year payment
Pay using an instrument of your choice - Credit/Debit Cards, Net Banking, Payment Wallets accepted
Exclusive Invite to select Business Standard events

What you get

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all content on any device through browser or app.
  • Exclusive content, features, opinions and comment - hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.

NOTE :

  • This product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the mail with the request to assist@bsmail.in. Include your contact number for easy reference. Requests mailed to any other ID will not be acknowledged or actioned upon.
First Published: Thu, December 05 2019. 07:59 IST
RECOMMENDED FOR YOU