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Economy

10 things you need to know before the opening bell on August 25

Updated : 2020-08-25 08:04:01

The Indian share market is expected to continue the trend of optimism for the second day in a row on Tuesday. At 7:32 am, the SGX Nifty traded 56.5 points higher at 11,504.80, indicating a positive start for the Sensex and the Nifty50.

1. Asia: Stocks in Asia Pacific were higher in Tuesday morning trade after the S&P 500 touched another record high overnight on Wall Street. Stocks in Japan led gains among the region’s major markets in early trade, with the Nikkei 225 jumping 1.19 percent while the Topix index advanced 1.22 percent. South Korea’s Kospi also rose 0.68 percent. Shares in Australia also edged higher, with the S&P/ASX 200 up 0.68 percent. Overall, the MSCI Asia ex-Japan index traded 0.2 percent higher. (Image: Reuters)
1. Asia: Stocks in Asia Pacific were higher in Tuesday morning trade after the S&P 500 touched another record high overnight on Wall Street. Stocks in Japan led gains among the region’s major markets in early trade, with the Nikkei 225 jumping 1.19 percent while the Topix index advanced 1.22 percent. South Korea’s Kospi also rose 0.68 percent. Shares in Australia also edged higher, with the S&P/ASX 200 up 0.68 percent. Overall, the MSCI Asia ex-Japan index traded 0.2 percent higher. (Image: Reuters)
2. US: U.S. stock futures rose slightly on Monday night after another record-setting session on Wall Street. Dow Jones Industrial Average futures traded higher by 53 points, or 0.2 percent. S&P 500 and Nasdaq 100 futures gained 0.2 percent and 0.1 percent, respectively. During regular trading, the S&P 500 climbed 1% and closed above 3,400 for the first time. Apple also hit an all-time high, leading other tech names higher, while airline and cruise operator stocks jumped amid enthusiasm on the coronavirus front. (Image: AP)
2. US: U.S. stock futures rose slightly on Monday night after another record-setting session on Wall Street. Dow Jones Industrial Average futures traded higher by 53 points, or 0.2 percent. S&P 500 and Nasdaq 100 futures gained 0.2 percent and 0.1 percent, respectively. During regular trading, the S&P 500 climbed 1% and closed above 3,400 for the first time. Apple also hit an all-time high, leading other tech names higher, while airline and cruise operator stocks jumped amid enthusiasm on the coronavirus front. (Image: AP)
3. Market At Close On Monday: The Indian market ended the first day of the week in gains led by financial stocks and Eicher Motors. The positive sentiment coming in from global peers also helped in lifting the market today. At close, the Sensex ended 364 points or 0.95 percent higher at 38,799 while the Nifty50 index closed at 11,474, 102 points or 0.90 percent higher. Broader markets outperformed the benchmarks, with Nifty Smallcap100 and Nifty Midcap100 index closing 1.67 percent and 0.70 percent respectively. (Image: Reuters)
3. Market At Close On Monday: The Indian market ended the first day of the week in gains led by financial stocks and Eicher Motors. The positive sentiment coming in from global peers also helped in lifting the market today. At close, the Sensex ended 364 points or 0.95 percent higher at 38,799 while the Nifty50 index closed at 11,474, 102 points or 0.90 percent higher. Broader markets outperformed the benchmarks, with Nifty Smallcap100 and Nifty Midcap100 index closing 1.67 percent and 0.70 percent respectively. (Image: Reuters)
4. Crude Oil: Two storms are barreling toward the Gulf Coast forcing a shutdown in oil operations, but the muted reaction in oil prices demonstrates just how closely the market is tied to a global recovery from Covid-19. West Texas Intermediate crude, the U.S. oil benchmark, gained 28 cents, or 0.66 percent, to settle at $42.62 per barrel. International benchmark Brent crude advanced 78 cents, or 1.76 percent, to $45.13. (Image: Reuters)
4. Crude Oil: Two storms are barreling toward the Gulf Coast forcing a shutdown in oil operations, but the muted reaction in oil prices demonstrates just how closely the market is tied to a global recovery from Covid-19. West Texas Intermediate crude, the U.S. oil benchmark, gained 28 cents, or 0.66 percent, to settle at $42.62 per barrel. International benchmark Brent crude advanced 78 cents, or 1.76 percent, to $45.13. (Image: Reuters)
5. Rupee Close: The Indian rupee gained 56 paise on Monday amidst positive equity markets and global cues. The rupee ended at a 5-month high at 74.32 as against the US dollar as compared to the previous close of 74.85. (Image: Reuters)
5. Rupee Close: The Indian rupee gained 56 paise on Monday amidst positive equity markets and global cues. The rupee ended at a 5-month high at 74.32 as against the US dollar as compared to the previous close of 74.85. (Image: Reuters)
6. Sunil Mittal Hints At Mobile Services Rate Hike: Bharti Airtel Founder and Chairman Sunil Bharti Mittal on Monday hinted at an increase in mobile services rates while stating that the average revenue per user is expected to cross Rs 200 in the next six months. He said 16 GB data consumption a month for Rs 160 is a tragedy.
6. Sunil Mittal Hints At Mobile Services Rate Hike: Bharti Airtel Founder and Chairman Sunil Bharti Mittal on Monday hinted at an increase in mobile services rates while stating that the average revenue per user is expected to cross Rs 200 in the next six months.
He said 16 GB data consumption a month for Rs 160 is a tragedy. "You either consume 1.6 GB of capacity per month either at this price point or you may prepare to pay a lot more. We are not wanting USD 50-60 like the US or Europe but certainly USD 2 for 16 GB a month is not sustainable," Mittal said at an event. He said that ARPU of Rs 300 is required to make industry sustainable with lower end still paying Rs 100 a month. (stock image)
7. Telecom Sector Could Be Reduced To 2 Companies, Warns Sunil Mittal: Amid the ongoing Adjusted Gross Revenue (AGR) case in the Supreme Court, the top boss of Bharti Airtel has warned that the telecom sector in the country could come down to only two companies due to the financial stress faced by the sector.
7. Telecom Sector Could Be Reduced To 2 Companies, Warns Sunil Mittal: Amid the ongoing Adjusted Gross Revenue (AGR) case in the Supreme Court, the top boss of Bharti Airtel has warned that the telecom sector in the country could come down to only two companies due to the financial stress faced by the sector. "We could well be down to two companies given the financial stress in the sector. Unless promoters of the third company decide to bring in large amounts of capital, sustainability will be in difficulty. Airtel has also been badly hit. We have managed to pump in new capital, rights issues and QIP placement. The third operator may want to do the same to raise capital," said Sunil Bharti Mittal, Chairman, Bharti Airtel. (Image: Reuters)
8. Govt Extends Validity Of Expiring Motor Vehicle Documents: The government has extended the validity of expiring driving licence and motor vehicle documents till December 31 in view of the prevailing condition in the country due to coronavirus. This is the third time the government has extended the deadline.
8. Govt Extends Validity Of Expiring Motor Vehicle Documents: The government has extended the validity of expiring driving licence and motor vehicle documents till December 31 in view of the prevailing condition in the country due to coronavirus. This is the third time the government has extended the deadline."Taking into consideration the grim situation still continuing due to conditions for prevention of spread of COVID-19 across the country, it is further advised that the validity of referred documents whose extension of validity could not or not likely be granted due to lockdown and which had expired since February 1, 2020 or would expire by December 31, 2020, the same may be treated to be valid till December 31, 2020," stated a PIB's release. (Image: AP)
9. Govt Could Permit FDI For LLPs In Construction Development: The government is considering a proposal to permit foreign direct investment (FDI) in limited liability partnership (LLP) firms engaged in construction development with a view to attracting overseas fund inflows, sources said. At present, FDI is permitted under the automatic route in LLPs that are operating in sectors where 100 per cent foreign direct investment is allowed through the automatic route and there are no FDI-linked performance conditions. In the construction development, 100 percent foreign direct investment is permitted under automatic route but with certain conditions.
9. Govt Could Permit FDI For LLPs In Construction Development: The government is considering a proposal to permit foreign direct investment (FDI) in limited liability partnership (LLP) firms engaged in construction development with a view to attracting overseas fund inflows, sources said. At present, FDI is permitted under the automatic route in LLPs that are operating in sectors where 100 per cent foreign direct investment is allowed through the automatic route and there are no FDI-linked performance conditions. In the construction development, 100 percent foreign direct investment is permitted under automatic route but with certain conditions. "So, at present, LLP firms in this segment are not permitted to receive foreign funds. Now, the government is considering making a carve out for LLPs in the construction development sector," a source said. (Stock Image)
10. Mobile Payments Users In India To Surge By 5 Times By FY25: Mobile payments users in India will surge 5 times from the current 16 crore to 80 crore, according to a report by RedSeer Consulting. Country’s mobile payments segment will drive 3.5 percent of total digital payments of Rs 7092 lakh crore by FY25, up from the current 1 percent. Digital payments growth is steered by inclusive government policies and increased participation by MSMEs. (Stock Image)
10. Mobile Payments Users In India To Surge By 5 Times By FY25: Mobile payments users in India will surge 5 times from the current 16 crore to 80 crore, according to a report by RedSeer Consulting. Country’s mobile payments segment will drive 3.5 percent of total digital payments of Rs 7092 lakh crore by FY25, up from the current 1 percent. Digital payments growth is steered by inclusive government policies and increased participation by MSMEs. (Stock Image)
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