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10 things you need to know before the opening bell on August 14

Updated : 2020-08-14 07:56:29

The Indian market is likely to open lower on Friday following a mixed trend in Asian peers amid cautiousness in the global market. At 7:10 am, the SGX Nifty was trading 18.00 points or 0.16 percent lower at 11,312.80, indicating a negative start for the Sensex and Nifty50.

1. Asia: Asia Pacific markets were mixed in early trade on Friday as investors remained cautious after U.S. lawmakers seemed unable to move forward with a coronavirus stimulus bill. Australia’s ASX 200 rose 0.24 percent immediately after market open. In Japan, the Nikkei 225 added 0.23 percent but the Topix index was fractionally lower. South Korea’s Kospi index fell 0.22 percent, reported CNBC International. (Image: Reuters)
1. Asia: Asia Pacific markets were mixed in early trade on Friday as investors remained cautious after U.S. lawmakers seemed unable to move forward with a coronavirus stimulus bill. Australia’s ASX 200 rose 0.24 percent immediately after market open. In Japan, the Nikkei 225 added 0.23 percent but the Topix index was fractionally lower. South Korea’s Kospi index fell 0.22 percent, reported CNBC International. (Image: Reuters)
2. US: U.S. stock futures rose slightly on Thursday night after the S&P 500 failed once again to reach its record high from February. Dow Jones Industrial Average futures were up 48 points, or 0.2 percent. S&P 500 and Nasdaq 100 futures both climbed 0.2 percent as well. The gyrations between gains and losses on Thursday came as tech shares outperformed while names that would benefit from the economy reopening struggled, reported CNBC International. (Image: AP)
2. US: U.S. stock futures rose slightly on Thursday night after the S&P 500 failed once again to reach its record high from February. Dow Jones Industrial Average futures were up 48 points, or 0.2 percent. S&P 500 and Nasdaq 100 futures both climbed 0.2 percent as well. The gyrations between gains and losses on Thursday came as tech shares outperformed while names that would benefit from the economy reopening struggled, reported CNBC International. (Image: AP)
3. Market At Close On Thursday: Indian shares pared morning gains to end flat on Thursday as gains in auto and metal stocks were capped by losses in index heavyweights Bharti Airtel, ITC, Infosys and Sun Pharma. The Sensex ended 59 points lower at 38,310 while the Nifty fell 8 points to settle at 11,300. Sentiment was also negative after the country reported a record single-day increase of 66,999 cases, India's COVID-19 tally mounted to 23,96,637 on Thursday. Broader market, however, outperformed benchmarks with midcap and smallcap indices up 1.6 percent and 0.7 percent, respectively. (Image: Reuters)
3. Market At Close On Thursday: Indian shares pared morning gains to end flat on Thursday as gains in auto and metal stocks were capped by losses in index heavyweights Bharti Airtel, ITC, Infosys and Sun Pharma. The Sensex ended 59 points lower at 38,310 while the Nifty fell 8 points to settle at 11,300. Sentiment was also negative after the country reported a record single-day increase of 66,999 cases, India's COVID-19 tally mounted to 23,96,637 on Thursday. Broader market, however, outperformed benchmarks with midcap and smallcap indices up 1.6 percent and 0.7 percent, respectively. (Image: Reuters)
4. Crude Oil: Oil prices eased on Thursday after the International Energy Agency lowered its 2020 oil demand forecast following unprecedented travel restrictions, but resilience in equities markets and a weak dollar limited losses. Brent crude was down 43 cents, or 0.95 percent, at $45.00 a barrel, and West Texas Intermediate settled 43 cents, or 1.01 percent, lower at $42.24 per barrel, reported CNBC International. (image: Reuters)
4. Crude Oil: Oil prices eased on Thursday after the International Energy Agency lowered its 2020 oil demand forecast following unprecedented travel restrictions, but resilience in equities markets and a weak dollar limited losses. Brent crude was down 43 cents, or 0.95 percent, at $45.00 a barrel, and West Texas Intermediate settled 43 cents, or 1.01 percent, lower at $42.24 per barrel, reported CNBC International. (image: Reuters)
5. Rupee Close: The Indian currency closed lower on Thursday amidst muted equity market. The rupee ended 5 paise higher to 74.83 against the US dollar as compared to Wednesday's close of 74.78. (Image: Reuters)
5. Rupee Close: The Indian currency closed lower on Thursday amidst muted equity market. The rupee ended 5 paise higher to 74.83 against the US dollar as compared to Wednesday's close of 74.78. (Image: Reuters)
6. Retail Inflation Climbs In July: India's retail inflation as measured by the Consumer Price Index (CPI) recorded 6.93 percent in the month of July as food prices continued to soar due to disrupted supply chains, showed data released by the National Statistics Office (NSO) on Thursday. The retail inflation based on Consumer Prince Index was 6.09 percent in June 2020 and 3.15 percent in the year-ago period. The food inflation, according to the Consumer Price Index (CPI) data, increased to 9.62 percent in July. The retail inflation in June was 6.23 percent, while the food inflation stood at 8.72 percent. (Image: Reuters)
6. Retail Inflation Climbs In July: India's retail inflation as measured by the Consumer Price Index (CPI) recorded 6.93 percent in the month of July as food prices continued to soar due to disrupted supply chains, showed data released by the National Statistics Office (NSO) on Thursday. The retail inflation based on Consumer Prince Index was 6.09 percent in June 2020 and 3.15 percent in the year-ago period. The food inflation, according to the Consumer Price Index (CPI) data, increased to 9.62 percent in July. The retail inflation in June was 6.23 percent, while the food inflation stood at 8.72 percent. (Image: Reuters)
7. PM Modi Launches Transparent Taxation Platform: Prime Minister Narendra Modi on Thursday unveiled faceless tax scrutiny and urged the people to pay their due taxes and contribute to nation building. Also the Income Tax department will adopt a 'taxpayer charter' which outlines rights and responsibilities of both tax officers and taxpayers. Launching the platform 'Transparent Taxation,’ ‘Honoring the Honest', Modi said the department will start faceless appeals from September 25.
7. PM Modi Launches Transparent Taxation Platform: Prime Minister Narendra Modi on Thursday unveiled faceless tax scrutiny and urged the people to pay their due taxes and contribute to nation building. Also the Income Tax department will adopt a 'taxpayer charter' which outlines rights and responsibilities of both tax officers and taxpayers. Launching the platform 'Transparent Taxation,’ ‘Honoring the Honest', Modi said the department will start faceless appeals from September 25. "Effort is to make tax system seamless, painless and faceless... Honest taxpayer plays an important role in nation development," he said. (Image: Reuters)
8. Higher Excise, Rebound In Volumes To Push States' Sales Tax Revenue: Sales tax revenue for states on petroleum products will grow by up to 9 percent in FY21 despite the impact of the COVID-19 pandemic, a report said on Thursday. The rise will be primarily driven by a rebound in volumes with the economic recovery after sharp fall in the initial months, benefits of the increase in central and state taxes and also firmness in crude prices, domestic rating agency Crisil said. The combined monthly volumes of petrol and diesel account for 90 per cent of sales tax collections from petroleum products for states. The sales tax gets computed on the value of fuel after adding the excise duties, which are at an elevated level at present. (Image: Reuters)
8. Higher Excise, Rebound In Volumes To Push States' Sales Tax Revenue: Sales tax revenue for states on petroleum products will grow by up to 9 percent in FY21 despite the impact of the COVID-19 pandemic, a report said on Thursday. The rise will be primarily driven by a rebound in volumes with the economic recovery after sharp fall in the initial months, benefits of the increase in central and state taxes and also firmness in crude prices, domestic rating agency Crisil said. The combined monthly volumes of petrol and diesel account for 90 per cent of sales tax collections from petroleum products for states. The sales tax gets computed on the value of fuel after adding the excise duties, which are at an elevated level at present. (Image: Reuters)
9. Hotel Bills Above Rs 20,000 To Come Under IT Scanner: As Narendra Modi government announced a landmark shift in the income tax administration to make it simple, painless and transparent, soon your hotel bill above Rs 20,000, health insurance premium above Rs 20,000, payment of education fees above Rs 1 lakh, purchase of jewellery, white goods, paintings, marble above Rs 1 lakh could get you under the income tax scanner. In a list of proposed measures to widen the tax base, in a tweet, government said no taxpayer should be left behind in the drive to ensure better compliance and transparency. (Stock Image)
9. Hotel Bills Above Rs 20,000 To Come Under IT Scanner: As Narendra Modi government announced a landmark shift in the income tax administration to make it simple, painless and transparent, soon your hotel bill above Rs 20,000, health insurance premium above Rs 20,000, payment of education fees above Rs 1 lakh, purchase of jewellery, white goods, paintings, marble above Rs 1 lakh could get you under the income tax scanner. In a list of proposed measures to widen the tax base, in a tweet, government said no taxpayer should be left behind in the drive to ensure better compliance and transparency. (Stock Image)
10. US Jobless Claims Fall Below 1 Million: The number of laid-off workers applying for unemployment aid fell below 1 million last week for the first time since the pandemic intensified five months ago yet still remains at a high level. The viral pandemic keeps forcing layoffs just as the expiration of a USD 600-a-week federal jobless benefit has deepened the hardships for many. The Labor Department said applications fell to 963,000, the second straight drop, from 1.2 million the previous week. The decline suggests that layoffs are slowing, though last week's figure still exceeds the pre-pandemic record of just under 700,000. (Image: AP)
10. US Jobless Claims Fall Below 1 Million: The number of laid-off workers applying for unemployment aid fell below 1 million last week for the first time since the pandemic intensified five months ago yet still remains at a high level. The viral pandemic keeps forcing layoffs just as the expiration of a USD 600-a-week federal jobless benefit has deepened the hardships for many. The Labor Department said applications fell to 963,000, the second straight drop, from 1.2 million the previous week. The decline suggests that layoffs are slowing, though last week's figure still exceeds the pre-pandemic record of just under 700,000. (Image: AP)
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