You are here: Home » Markets » News
Business Standard

Market Ahead, Nov 20: Top factors you need to know before the Opening Bell

The rally in telecom stocks could continue for the fourth straight session after Reliance Jio joined rivals Vodafone Idea and Airtel in announcing an increase in tariffs

Topics
Market Ahead | Markets | Asia Markets

BS Web Team  |  New Delhi 

Global cues, stock-specific action, and foreign fund flow will be the top factors that will give direction to the today.

The rally in telecom stocks could continue for the fourth straight session after Reliance Jio joined rivals Vodafone Idea and Airtel in announcing an increase in tariffs over the next few weeks. The share price of Vodafone Idea has surged 130 per cent while Bharti Airtel has gained 25 per cent in the last three trading sessions after announcing tariff hikes.

In another major news, private sector lender YES Bank has reported asset quality divergence of Rs 3,277 crore, based on receipt of the Reserve Bank of India’s (RBI’s) final risk assessment report for 2018-19. According to the bank, it has already classified as NPA Rs 1,259 crore as on September 30, setting aside Rs 346 crore of provisions.

That apart, market participants will also track oil price movement, the value of rupee against the dollar, and foreign fund flow.

Global markets:

In US, major indexes fell from record levels on Tuesday as US President Donald Trump threatened to raise tariffs on Chinese imports if no deal is reached with Beijing. The Dow Jones Industrial Average fell 0.36 per cent, the S&P 500 lost 0.06 per cent, and the Nasdaq Composite added 0.24 per cent.

Asian shares also lumbered lower on Wednesday. MSCI's broadest index of Asia-Pacific shares outside Japan was off 0.25 per cent. Japan's Nikkei eased 0.2 per cent and South Korea 0.4 per cent. The SGX Nifty was also trading lower in the early hours, indicating a subdued start for the domestic indices.

In commodities, Brent crude futures stood at $60.91 a barrel early on Wednesday, after sliding 2.6 per cent overnight.

Yesterday, benchmark indices ended with nearly half a per cent gains. The S&P BSE Sensex added 186 points to settle at 40,470, and the broader Nifty50 index ended at 11,940 levels, up 57 points.

Here's a trading idea by Religare Broking who recommend buying HPCL around Rs 288-290 for a target of Rs 305 with stoploss at Rs 282.

MONTHLY STAR

Business Standard Digital

Business Standard Digital Monthly Subscription
199.00  
subscribe
Complete access to the premium product
Convenient - Pay as you go
Pay using Amex/Master/VISA Credit Cards and VISA Debit Cards Only
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 ANNUAL

Business Standard Digital

Business Standard Digital - 12 Months
1799.00
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 -all Credit and Debit Cards, Net Banking, Payment Wallets, and UPI
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.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, November 20 2019. 07:43 IST
RECOMMENDED FOR YOU
.