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10 things to know before the opening bell

10 things to know before the opening bell

10 things to know before the opening bell
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By CNBC-TV18 Oct 4, 2018 7:42:49 AM IST (Updated)

Indian equity market is likely to open weak on Thursday, tracking weakness in Asian shares coupled with macro-economic concerns back home due to weakening rupee and steady fund outflows.

Indian equity market is likely to open weak on Thursday, tracking weakness in Asian shares coupled with macro-economic concerns back home due to weakening rupee and steady fund outflows.

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Here's what you should know before the opening bell
Cabinet on MSP: The government on  Wednesday announced a 6 percent hike in wheat support price to Rs 1,840 per quintal and up to 21 percent increase in other rabi crops, a move that will give farmers Rs 62,635 crore additional income and help contain their simmering discontent over high input cost and low returns
Rupee: The rupee recovered sharply from record low levels, hitting the 73-market, on Wednesday after reports that the government was in talks with RBI for a special dollar swap window with some state-run fuel retailers.
Asian Markets: The Asian markets on Thursday were largely trading in the red as oil prices near four-year highs threatened to roil emerging economies while concerns over the persisting US-China trade war continued to weigh on investors' sentiment.
RBI on ECB: The Reserve Bank of India (RBI) on Wednesday allowed the oil marketing companies (OMC) to raise External Commercial Borrowings (ECB) from all recognised lenders under the automatic route.
Oil prices: Oil prices fell from four-year highs reached the previous session, pressured by rising US inventories and after sources said Russia and Saudi Arabia struck a private deal in September to raise crude output.
Wall street close: Wall Street advanced on Wednesday and the Dow Jones Industrial Average closed at a record for a second day, after US economic data fuelled a rise in Treasury yields, lifting financial stocks. The ADP National Employment Report showed private payrolls jumped by 230,000 jobs in September, the largest gain since February. The data fed expectations for a US Federal Reserve interest rate hike in December.
RBI Monetary Policy: The Reserve Bank of India (RBI) will declare the outcome of the October bi-monthly meet on Friday. Experts have said there are strong chances for the central bank to raise the repo rates for the third consecutive time due to the fall in rupee and the rising crude oil prices.
India and US: The United States has warned India against a planned purchase of S-400 surface-to-air missiles from Russia when President Vladimir Putin visits New Delhi this week, saying such an acquisition would attract sanctions under US law.
Market at close: Indian shares ended sharply lower on Wednesday, after sustained selling across sectors in the last hour of trade. The BSE Sensex gave up 36,000, ending the day at 35,976, nosediving by 550 points, or 1.51 percent, while the Nifty settled below 10,900, closing at 10,858, lower by 1.36 percent, dipping by 150 points.
Dollar: The dollar reached an 11-month high against the yen and stood tall against other peers on Thursday, boosted by new upbeat US data and comments from Federal Reserve Chairman Jerome Powell that were seen as hawkish.
(With inputs from agencies)
 
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