Morning Market Mint - 13.01.2021

   Morning Market Mint - Rupeedesk Reports - 13.01.2021

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Morning Market Mint - Rupeedesk Reports - 13.01.2021

Morning Market Mint - Rupeedesk Reports - 13.01.2021

* US Markets

The benchmark S&P 500 closed barely higher on Tuesday while shares in smaller companies soared to record highs as investors favored more economically sensitive market segments as they bet on a recovery in 2021.

* Asian Markets

Asian stocks opened mostly higher on Wednesday, tracking modest Wall Street gains as prospects of an eventual victory against coronavirus shored up recovery hopes, while tight supply expectations pushed oil prices to their highest in a year.

* SGX Nifty

Trends on SGX Nifty indicate a positive opening for the index in India with a 39 points gain. The Nifty futures were trading at 14,639 on the Singaporean Exchange around 07:30 hours IST.

* India IIP contracts 1.9% in November 2020 versus 3.6% expansion in October

The Index of Industrial Production (IIP) contracted 1.9 percent for November 2020, showed the data released by the Ministry of Statistics and Programme Implementation (MoSPI) on January 12. The factory output in the country had grown at 3.6 per cent in October.

* Retail inflation in India eases to 4.59% in December

India's Consumer Price Index (CPI), which measures the country's retail inflation eased to 4.59 percent in December versus 6.93 percent in November. This month's CPI has fallen within the Reserve Bank of India’s (RBI) upper margin of 6.

* Domestic hospitality industry to contract by 65% in FY21: Report

The domestic hospitality industry, which has been severely affected by the COVID -19 related disruptions, is likely to witness a decline of over 65 percent in 2020-21, according to a report. However, there might be a recovery in demand in the later part of financial year 2021-22 as vaccine rollouts gains traction

* Cabinet likely to approve mining reforms proposal tomorrow

The Union cabinet is most likely to consider the proposal of mining sector reform for enhancing private investment, in the meeting scheduled for January 13. Amendments in the Mines and Minerals (Development and Regulation) Act, 1957 have been proposed

* Approvals received for relevant downstream investments post FDI nod from DoT: Airtel

Bharti Airtel on Tuesday said pursuant to the FDI approval in January 2020 granted to it by the DoT, the company has received necessary approvals for its relevant downstream investments. Bharti Airtel further said it is initiating the process to revise its foreign investment limit, as notified to its depositories, to 100 percent with immediate effect.

* RBI imposes Rs 2 crore monetary penalty on Deutsche Bank for lack of compliance

The Reserve Bank of India (RBI) on January 12 imposed a monetary penalty of Rs two crore on Deutsche Bank AG for non-compliance with certain provisions. The RBI didn’t elaborate the nature of compliance violations by the bank. The penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) of the Banking Regulation Act, 1949, the RBI said.

* Results on January 13

Infosys, Wipro, 5paisa Capital, Amtek Auto, Asian Tea & Exports, CESC, Capital Trade Links, GTPL Hathway, Mideast (India) and Rajoo Engineers will announce their quarterly earnings on January 13.

* FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 571.47 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 1,334.5 crore in the Indian equity market on January 12, as per provisional data available on the NSE.

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