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10 things you need to know before the opening bell on September 27

Updated : 2019-09-27 07:56:43

Indian shares are likely to open higher on Friday, extending previous day's rally, on the back of overseas inflows. At 7:05 AM, the SGX Nifty futures traded higher by 20 points, or 0.17 percent, at 11,610, indicating a positive start for the Sensex and the Nifty.

1. Asia: Asian shares were on course for a second straight week of losses on Friday as the release of a whistleblower complaint against US President Donald Trump heightened uncertainties about the global economy, already reeling from Sino-US trade war, reported Reuters. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.05 percent, Japan's Nikkei slipped 0.48 percent, while Australian shares were up 0.56 percent. (Image: Reuters)
1. Asia: Asian shares were on course for a second straight week of losses on Friday as the release of a whistleblower complaint against US President Donald Trump heightened uncertainties about the global economy, already reeling from Sino-US trade war, reported Reuters. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.05 percent, Japan's Nikkei slipped 0.48 percent, while Australian shares were up 0.56 percent. (Image: Reuters)
2. US: US stocks slipped on Thursday as the release of a whistleblower report tied to the Democrats' impeachment move against President Donald Trump kept uncertainty high, while trade comments from China's top diplomat helped to limit losses, reported Reuters. The Dow Jones Industrial Average fell 79.59 points, or 0.3 percent, to 26,891.12. The S&P 500 lost 7.25 points, or 0.24 percent, to 2,977.62 and the Nasdaq Composite dropped 46.72 points, or 0.58 percent, to 8,030.66. (Image: AP)
2. US: US stocks slipped on Thursday as the release of a whistleblower report tied to the Democrats' impeachment move against President Donald Trump kept uncertainty high, while trade comments from China's top diplomat helped to limit losses, reported Reuters. The Dow Jones Industrial Average fell 79.59 points, or 0.3 percent, to 26,891.12. The S&P 500 lost 7.25 points, or 0.24 percent, to 2,977.62 and the Nasdaq Composite dropped 46.72 points, or 0.58 percent, to 8,030.66. (Image: AP)
3. Markets At Close On Thursday: Indian shares ended higher on Thursday, driven by gains in index heavyweights ICICI Bank, RIL, L&T and Maruti as September series derivatives expired amid positive cues from global markets. After rallying 565 points during the day, the Sensex ended 396.22 points, or 1.03 percent, higher at 38,989.74. The broader NSE Nifty soared 133.10 points, or 1.22 percent, to end at 11,573.30. Meanwhile, foreign institutional investors (FIIs) bought Rs 737 crore in the cash market and domestic institutional investors (DIIs) bought Rs 339 crore. The rupee strengthened by 16 paise to close at 70.88 against the US dollar. (Image: Reuters)
3. Markets At Close On Thursday: Indian shares ended higher on Thursday, driven by gains in index heavyweights ICICI Bank, RIL, L&T and Maruti as September series derivatives expired amid positive cues from global markets. After rallying 565 points during the day, the Sensex ended 396.22 points, or 1.03 percent, higher at 38,989.74. The broader NSE Nifty soared 133.10 points, or 1.22 percent, to end at 11,573.30. Meanwhile, foreign institutional investors (FIIs) bought Rs 737 crore in the cash market and domestic institutional investors (DIIs) bought Rs 339 crore. The rupee strengthened by 16 paise to close at 70.88 against the US dollar. (Image: Reuters)
4. Crude Oil: Oil prices steadied off two-week lows as a Pentagon statement intensified concerns of a Middle East conflict and supply disruptions, although the impeachment inquiry into US President Donald Trump kept risk assets broadly in check. Brent crude futures fell 0.53 percent to $62.41 a barrel but stayed above Wednesday's low of $61.23, while US West Texas Intermediate (WTI) crude lost 0.2 percent to $56.30 per barrel, off their low of $55.41 on Thursday. (Image: Reuters)
4. Crude Oil: Oil prices steadied off two-week lows as a Pentagon statement intensified concerns of a Middle East conflict and supply disruptions, although the impeachment inquiry into US President Donald Trump kept risk assets broadly in check. Brent crude futures fell 0.53 percent to $62.41 a barrel but stayed above Wednesday's low of $61.23, while US West Texas Intermediate (WTI) crude lost 0.2 percent to $56.30 per barrel, off their low of $55.41 on Thursday. (Image: Reuters)
5. Finance Minister On Liquidity Crisis: Finance Minister Nirmala Sitharaman on Thursday met private sector banks, NBFCs and micro-finance institutions and small finance banks where she said liquidity is no longer an issue while expressing the hope that demand is ready to be kicked off from the festival season onwards and that meeting private bankers was like a tonic for her. Addressing the media after the meeting, Sitharaman evinced hope that demand would return in most of the sectors. (Getty Image)
5. Finance Minister On Liquidity Crisis: Finance Minister Nirmala Sitharaman on Thursday met private sector banks, NBFCs and micro-finance institutions and small finance banks where she said liquidity is no longer an issue while expressing the hope that demand is ready to be kicked off from the festival season onwards and that meeting private bankers was like a tonic for her. Addressing the media after the meeting, Sitharaman evinced hope that demand would return in most of the sectors. (Getty Image)
6. Government On Income Tax: The government will take a decision on raising the income tax exemption limit at an appropriate time, Minister of State for Finance Anurag Singh Thakur said on Thursday.
6. Government On Income Tax: The government will take a decision on raising the income tax exemption limit at an appropriate time, Minister of State for Finance Anurag Singh Thakur said on Thursday. "When the time arises to take a call on it (income tax relief), the government will do so. The government in the past has also increased (the limit) from Rs 2.5 lakh to Rs 5 lakh. In future, whenever the time arises, we will look into the matter," he said here. (Representational Image)
7. SEBI On Rights Issue, Promoter Concept: Markets regulator Sebi on Thursday said it will soon take a view on a proposal to reduce the time taken for rights issues to around 31 days. Sebi Chairman Ajay Tyagi said at a Ficci event that Sebi is examining the concept of company 'promoters' and studying if we can shift to 'controlling shareholders'.
7. SEBI On Rights Issue, Promoter Concept: Markets regulator Sebi on Thursday said it will soon take a view on a proposal to reduce the time taken for rights issues to around 31 days. Sebi Chairman Ajay Tyagi said at a Ficci event that Sebi is examining the concept of company 'promoters' and studying if we can shift to 'controlling shareholders'. "Keeping in mind changing realities of the global and Indian markets, we are examining the relevance of the concept of 'promoter' in today's times along with whether any changes to Sebi Regulations are warranted in this regard," Tyagi said. With regard to rights issue, the regulator came out with a consultative paper on the mode of fund raising in May. In the paper, Sebi proposed to reduce the overall time taken for rights issue to around 31 days as well as make the application and allotment process more efficient. (Image: Reuters)
8. Fitch Ratings On Corporate Tax Cut: Fitch Ratings on Thursday said the steep cut in tax paid by companies may stimulate investments and economic growth only in the medium term, but it will lead to breach fiscal targets in the current fiscal itself.
8. Fitch Ratings On Corporate Tax Cut: Fitch Ratings on Thursday said the steep cut in tax paid by companies may stimulate investments and economic growth only in the medium term, but it will lead to breach fiscal targets in the current fiscal itself. "India's corporate tax cuts support efforts to stimulate investment and GDP growth in the medium term, but will cause the fiscal deficit to widen in the near term. As such, slippage from previous government fiscal targets this year (FY19-20) is now very likely," Fitch said. The corporate tax cut follows other measures by the government to prop up slowing GDP growth adopted since the May general elections. These include efforts to reduce red tape and boost FDI, and plans to consolidate the state-owned banks. (Image: Reuters)
9. SEBI New Norm For Mutual Funds: With an aim to safeguard mutual fund investors from high-risk assets, regulator Sebi has asked asset management companies to make all their investments in listed or to-be-listed equity securities. The new framework comes after the board of Securities and Exchange Board of India (Sebi) approved a proposal in this regard in August. Exposure to risky debt securities has emerged as a major risk for capital market investors, including those coming through the mutual fund route, and the regulator has been making efforts to enhance its regulatory safety net against such risks.<br />
9. SEBI New Norm For Mutual Funds: With an aim to safeguard mutual fund investors from high-risk assets, regulator Sebi has asked asset management companies to make all their investments in listed or to-be-listed equity securities. The new framework comes after the board of Securities and Exchange Board of India (Sebi) approved a proposal in this regard in August. Exposure to risky debt securities has emerged as a major risk for capital market investors, including those coming through the mutual fund route, and the regulator has been making efforts to enhance its regulatory safety net against such risks.
"All investments by a mutual fund scheme in equity shares and equity-related instruments shall only be made, provided such securities are listed or to be listed," the regulator said in a notification dated September 23. (Image: Reuters)
10. RBI Panel On Managing Liquidity: An RBI internal working group has suggested the introduction of longer-term repo operations at market-related rates of up to one-year tenor as an alternative to open market operations conducted by the central government to manage liquidity in the banking system. According to the group's report put up on the RBI's website on Thursday, the panel has recommended that the current liquidity management framework should largely continue in its present form -- a corridor system with the call money rate as the target rate. Comments have been invited from stakeholder till October 31. The framework should be flexible. While the corridor system would normally require the system liquidity to be in a small deficit if financial conditions warrant a situation of liquidity surplus, the framework should be adaptable, it said.<br />On managing durable liquidity, the panel has recommended that, as an alternative to OMO purchases,
10. RBI Panel On Managing Liquidity: An RBI internal working group has suggested the introduction of longer-term repo operations at market-related rates of up to one-year tenor as an alternative to open market operations conducted by the central government to manage liquidity in the banking system. According to the group's report put up on the RBI's website on Thursday, the panel has recommended that the current liquidity management framework should largely continue in its present form -- a corridor system with the call money rate as the target rate. Comments have been invited from stakeholder till October 31. The framework should be flexible. While the corridor system would normally require the system liquidity to be in a small deficit if financial conditions warrant a situation of liquidity surplus, the framework should be adaptable, it said.
On managing durable liquidity, the panel has recommended that, as an alternative to OMO purchases, "longer-term variable rate repos, of more than 14 days and up to one-year tenor, be considered as a new tool for injection if system liquidity is in a large deficit". (Image: Reuters)
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