Morning Market Mint - 19.01.2021

 Morning Market Mint - Rupeedesk Reports - 19.01.2021

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Morning Market Mint - Rupeedesk Reports - 19.01.2021

Morning Market Mint - Rupeedesk Reports - 19.01.2021

Trends on SGX Nifty indicate a positive opening for the index in India with a 91 points gain

* Asian Markets

Asian share markets edged ahead on Tuesday as investors wagered China’s economic strength would help underpin growth in the region, even as pandemic lockdowns threatened to lengthen the road to recovery in the West.

* SGX Nifty

Trends on SGX Nifty indicate a positive opening for the index in India with a 91 points gain. The Nifty futures were trading at 13,367 on the Singaporean Exchange around 07:30 hours IST.

* Forex intervention by RBI to touch $93 billion by March: Report

The Reserve Bank of India (RBI) is likely to spend at least $20 billion more to support the rupee and increase the forex kitty through the reminder of the financial year, taking its overall forex intervention to $93 billion, according to a report.

* Banks' low profitability, weak asset quality pose difficulty in boosting digitisation: S&P

S&P Global Ratings on January 18 said India's banking system's low profitability and weak asset quality present some difficulties in significantly boosting digitalisation for several state-owned and smaller private-sector banks. In its report titled 'Tech Disruption in retail banking: Top tier banks lead the change', S&P said India's digital disruption, however, poses a relatively low risk to its top-tier banks' longstanding market position.

* FinMin releases weekly instalment of Rs 6,000 crore to states to meet GST compensation shortfall

The Finance Ministry on Monday released the 12th instalment of Rs 6,000 crore to states to meet the GST compensation shortfall, taking the total amount released so far under this window to Rs 72,000 crore. The Centre had set up a special borrowing window in October 2020 to meet the estimated shortfall of Rs 1.10 lakh crore in revenue arising on account of implementation of Goods and Services Tax (GST).

* IMF chief sees 'high degree of uncertainty' in global outlook

The head of the International Monetary Fund said on Monday the global economic outlook remained highly uncertain given the coronavirus pandemic, and a growing divergence between rich and poor countries required the IMF to find more resources.

* Results on January 19

ICICI Lombard General Insurance Company, Alembic Pharmaceuticals, Ceat, CSB Bank, DCM Shriram, L&T Infotech, Skipper, Tata Communications, Tata Metaliks, Tata Steel Bsl, Gateway Distriparks, Hatsun Agro Product, HT Media, JSW Ispat Special Products, Bank of Maharashtra, Mold-Tek Packaging, Network18 Media & Investments, Roselabs Finance, TV18 Broadcast, Vardhman Special Steels, Raghav Productivity Enhancers, Shree Ganesh Biotech, Wardwizard Innovations & Mobility, Add-Shop ERetail, AVI Polymers and Bigbloc Construction will announce their quarterly earnings on January 19.

* FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 650.6 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 42.51 crore in the Indian equity market on January 18, as per provisional data available on the NSE.

* 3 stocks under F&O ban on NSE

BHEL, Vodafone Idea and SAIL are under the F&O ban for January 19. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.

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