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ETMarkets Morning Podcast (ETMarkets.com)

Life insurers may enter Nifty & other top news you must know

05:59 Min | June 30, 2020, 8:59 AM IST
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Hi there! Welcome to ETMarkets Morning, the show about money, business and markets. I am Saloni Goel, and here is what we have to start your day.

>> Life insurers may make Nifty entry in Aug
>> RIL close to deal to buy out Future Group
>> India bans Tiktok, 58 other Chinese apps
>> Voda Idea likely to report lesser loss for Q4

And there is more.

But first, a quick glance at the state of the markets...

>> Nifty futures on Singapore Exchange traded 55 points higher at 7 am (IST) signalling a positive start ahead for Dalal Street

>> Asian stocks advanced this morning, set to round out their best quarter since 2009, as optimism about a recovery overshadowed concerns over an increase in US coronavirus cases. Benchmark indices rose more than 1% in Japan, Australia and South Korea. Hong Kong gains were more modest after the Trump administration suspended some trade benefits for the city over China’s new national security law

>> Wall Street stocks closed higher on Monday as investors hoped for a stimulus-backed economic rebound and Boeing shares surged. Dow rose 580 points, or 2.32%, the S&P500 44.19 points, or 1.47%, and the Nasdaq 116 points, or 1.2%.

>> The rupee settled 7 paise higher at 75.58 against the US dollar on Monday supported by weak American currency and easing of crude prices.

>> Safe-haven currencies were on the back foot on Tuesday as hopes of an economic turnaround boosted stock prices. The dollar touched a three-week high against the yen, the euro gained a tad against the greenback, while safe-haven Swiss franc eased a bit against the US currency. Sterling was under pressure after UK government promise to boost public spending.

>> CRUDE prices fell in early trade on Tuesday after weak Japanese industrial production data. WTI crude futures briefly traded higher then fell 38 cents, or 1%, to $39.32 a barrel while Brent futures fell 32 cents, or 0.8%, to $41.53

>> Gold prices fell in India on Monday, though global prices continued to rally, edging closer to an eight-year high. Spot gold rose 0.1% to $1,772.61 per ounce in international markets. Back home, gold futures slipped by Rs 50 to Rs 48,250 per 10 gm on MCX while silver futures closed flat at Rs 49,245 per kg.

All in all, Dalal Street looks headed for a positive start. On Monday, Nifty formed a Doji candle on the daily chart for the second consecutive session, suggesting indecisiveness among investors after the recent rally.


Voda Idea, ONGC earnings, And

May Core Sector Growth and Fiscal Deficit prints

LET ME NOW GIVE YOU A HEADS-UP on some of the top news we are tracking at this hour.

… The semi-annual review of the components of the Nifty by exchanges could lead to inclusion of more financials. Analysts says two of the country’s largest life insurance firms, HDFC Life Insurance and SBI Life Insurance, could make their way into the main index. Divi’s Laboratories and consumer major Dabur India are the others that stand a good chance of making it into the Nifty

….RIL has moved close to clinching a deal to buy the retail businesses of Kishore Biyani’s Future Group, which owns brands like Big Bazaar and EasyDay. The move will further cement RIL’s position as the top brick-and-mortar player across categories like groceries, fashion and general merchandise

… A day before the third round of talks to resolve the border dispute with China, the Modi government on Monday “blocked” 59 apps owned or backed by the Chinese, including popular ones such as Tik-Tok, UC Browser, WeChat, Shareit and CamScanner. The Centre claimed the apps were “engaging in activities prejudicial to sovereignty and integrity of India, defence of India, security of state and public order”.

… In an indication that the Covid situation remains serious, the “unlocking” process has been paused with fresh guidelines stating that the lockdown shall continue to be strictly implemented in all containment zones till July 31. Opening of schools & colleges, international passenger flights, Metro services, cinema halls, gymnasiums as well as social, political and religious congregations remain barred.

…Domestic airlines are cancelling 10 to 25% of flights every day, leading to chaos, confusion and hundreds of disgruntled passengers, most of whom have not even got refunds. Airlines are selling tickets for up to one-third of their total flights but are operating only about one fourth, cancelling the rest due to either low demand or new norm in the constantly changing lockdown and quarantine rules of states.

…IT services providers such as TCS, Wipro and Infosys are likely to reprioritise their China businesses, as economic stress and unstable geopolitical relations are impacting their already struggling units that have failed to scale up in the Middle Kingdom, analysts said. For these software services providers, growth in China has been challenging as they have been focusing largely on Western companies with operations there.


Financial creditors to the bankrupt Bhushan Power & Steel have rejected JSW Steel’s request for time till March 2021 to take over the sick company.

Vodafone Idea is likely to report lower losses and higher revenue sequentially for March quarter, the first full quarter when the ailing telco will reap the benefit of up to 40% tariff hikes imposed in December 2019

Interest in Andhra Paper, a debt-free company with a strong balance sheet, has spiked after market purchases by big investors like Radhakishan Damani and SBI Mutual Fund, the country’s largest fund house.


Hindalco's overseas unit Novelis has sought an extension of its $1.1 billion bridge loan from 20 lenders as the proposed sale of two plants in Belgium and the US is stuck due to the global lockdowns.

That’s it for now. For all the market news through the day, do track ETMarkets.com. Have a great day ahead! Bye-bye.
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