Good morning! Heres a lowdown on the top macro triggers that may move market on January 1, 2019. This report was compiled from agency feeds.
Bank asset qualities start improving
The banking sector is on "course to recovery" with the afflicting non-performing assets receding, but state-run lenders need reforms in governance, RBI Governor Shaktikanta Das said on Monday. RBI in its Financial Stability Report filed Monday, said the asset quality of banks have showed improvement with gross non performing assets' (GNPAs) ratio declining to 10.8 per cent in September 2018 from 11.5 per cent in March 2018, The net NPAs ratio also witnessed a fall at 5.3 per cent in September 2018 as against 6.2 per cent in March 2018. The GNPA ratio of both public and private sector banks showed a half-yearly decline, for the first time since March 2015, the financial year-end prior to the launch of asset quality review (AQR).
23 goods & services get cheaper from today
In a new year gift to the common man, the government has notified reduction in GST rates on 23 goods and services, including movie tickets, TV and monitor screen. The consumers will pay less for these items of common consumption from Tuesday. Services supplied by banks to basic savings bank deposit account holders under the Jan Dhan Yojana will not attract the GST.
Core sector growth hits 16-month low in Nov
Eight core industries grew at their slowest pace in 16 months at 3.5 per cent in November due to a fall in the output of crude oil and fertilisers, official data showed on Monday. The previous lowest expansion in output growth of these key industries was recorded at 2.9 per cent in July 2017.
North Korea to take new path if US keeps sanctions
Kim Jong Un has said North Korea would take a new path if the US insisted on keeping sanctions, delivering a pointed message to President Donald Trump in his New Years address. Kim said he was willing to meet the U.S. president at any time, mixing in conciliatory messages with his warnings of conflict to Washington and Seoul in his annual speech.
EPFO & stock investment
In 2019, subscribers of the retirement fund body EPFO may get an option to invest more of their savings in equity market, besides a host of other social security benefits and digital tools to manage their funds. At present, the EPFO invests up to 15 per cent of its investible deposits into the exchange traded funds (ETFs).
Oil prices end 2018 with full-year losses
Oil prices ended with full-year losses for the first time since 2015, after a desultory fourth quarter that saw buyers flee the market over growing worries about a supply glut and mixed signals related to renewed U.S. sanctions on Iran. A Reuters survey of 32 economists and analysts forecast an average Brent price of $69.13 next year, more than $5 below analyst projections a month ago, and compared with an average real price of $71.76 in 2018.
FM clears the air on RBI surplus
TOP QUOTE
Go value hunting in 2019
FUNDAMENTALS
Rupee up: The Indian rupee Monday signed off the last trading session of 2018 with 18 paise gains at 69.77 per dollar.
10-yr bond yields unchanged: India 10-year bonds' yields fell 0.02 per cent to 7.37 per cent on Monday from 7.39 per cent in the previous trading session, according to RBI data.
Call rate: The overnight call money rate weighted average was 6.01 per cent on Monday, according to RBI data. It moved in a range of 4.10-6.40 per cent.
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