• SENSEX
    NIFTY 50
Economy

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

Updated : 2020-08-27 07:57:57

The Indian equity market may open higher on Thursday following Asian peers that traded in the green after a rally on Wall Street. At 7:50 am, the SGX Nifty was trading 29 points or 0.25 percent higher at 11,585.50, indicating a mildly positive start for the Sensex and Nifty50.

1. Asia: Shares in Asia Pacific were mixed in Thursday morning trade as investors await upcoming comments from U.S. Federal Reserve Chairman Jerome Powell. In Japan, the Nikkei 225 shed 0.17 percent in early trade while the Topix index dipped 0.32 percent. South Korea’s Kospi slipped 0.25 percent. Meanwhile, stocks in Australia nudged higher, with the S&P/ASX 200 up frationally. Overall, the MSCI Asia ex-Japan index traded around 0.1 percent higher, reported CNBC International. (Image: Reuters)
1. Asia: Shares in Asia Pacific were mixed in Thursday morning trade as investors await upcoming comments from U.S. Federal Reserve Chairman Jerome Powell. In Japan, the Nikkei 225 shed 0.17 percent in early trade while the Topix index dipped 0.32 percent. South Korea’s Kospi slipped 0.25 percent. Meanwhile, stocks in Australia nudged higher, with the S&P/ASX 200 up frationally. Overall, the MSCI Asia ex-Japan index traded around 0.1 percent higher, reported CNBC International. (Image: Reuters)
2. US: Futures contracts tied to the major U.S. stock indexes slipped during the overnight session Wednesday evening as Wall Street turned its attention to an upcoming address from Federal Reserve Chairman Jerome Powell. Dow futures lost 25 points, pointing to a muted move when regular equity trading resumes Thursday morning. Both S&P 500 and Nasdaq-100 futures ticked lower, each pointing to flat opens, reported CNBC International. (Image: AP)
2. US: Futures contracts tied to the major U.S. stock indexes slipped during the overnight session Wednesday evening as Wall Street turned its attention to an upcoming address from Federal Reserve Chairman Jerome Powell. Dow futures lost 25 points, pointing to a muted move when regular equity trading resumes Thursday morning. Both S&P 500 and Nasdaq-100 futures ticked lower, each pointing to flat opens, reported CNBC International. (Image: AP)
3. Market At Close On Wednesday: Indian indices ended higher on Wednesday led by gains in banks, auto and IT stocks. Index heavyweights RIL, Infosys, Kotak Bank, Axis Bank, and ICICI Bank contributed the most to the benchmarks. The Sensex ended 230 points higher at 30,074 while the Nifty rose 77 points to settle at 11,550. Broader markets were also positive with the midcap and smallcap indices up 0.5 percent and 1 percent, respectively. (Image: Reuters)
3. Market At Close On Wednesday: Indian indices ended higher on Wednesday led by gains in banks, auto and IT stocks. Index heavyweights RIL, Infosys, Kotak Bank, Axis Bank, and ICICI Bank contributed the most to the benchmarks. The Sensex ended 230 points higher at 30,074 while the Nifty rose 77 points to settle at 11,550. Broader markets were also positive with the midcap and smallcap indices up 0.5 percent and 1 percent, respectively. (Image: Reuters)
4. Crude Oil: Oil prices steadied on Wednesday, pressured by worries about the demand outlook during the coronavirus pandemic but buoyed as U.S. producers shut output in the Gulf of Mexico ahead of Hurricane Laura.Brent crude fell 22 cents to $45.64 a barrel, while West Texas Intermediate crude settled 4 cents higher at $43.39 per barrel. Both benchmarks settled at a five-month high on Tuesday, reported CNBC International. (Image: Reuters)
4. Crude Oil: Oil prices steadied on Wednesday, pressured by worries about the demand outlook during the coronavirus pandemic but buoyed as U.S. producers shut output in the Gulf of Mexico ahead of Hurricane Laura.Brent crude fell 22 cents to $45.64 a barrel, while West Texas Intermediate crude settled 4 cents higher at $43.39 per barrel. Both benchmarks settled at a five-month high on Tuesday, reported CNBC International. (Image: Reuters)
5. Rupee Close: The Indian currency settled in-line with the volatile equity market on Wednesday. The rupee ended at 74.33 against the US dollar as compared to the previous close of 74.33. (Image: Reuters)
5. Rupee Close: The Indian currency settled in-line with the volatile equity market on Wednesday. The rupee ended at 74.33 against the US dollar as compared to the previous close of 74.33. (Image: Reuters)
6. SEBI On Market Volatility: Capital markets regulator Sebi on Wednesday said measures to deal with market volatility will be in place till September 24 after reviewing the coronavirus pandemic-related situation. In the wake of the pandemic, the watchdog, in March, came out with various measures, including revision of market wide position limit, to ensure orderly trading and settlement to contain high market volatility. Besides ensuring orderly trading and settlement, these steps were aimed at effective risk management, price discovery and maintenance of market integrity. (Image: Reuters)
6. SEBI On Market Volatility: Capital markets regulator Sebi on Wednesday said measures to deal with market volatility will be in place till September 24 after reviewing the coronavirus pandemic-related situation. In the wake of the pandemic, the watchdog, in March, came out with various measures, including revision of market wide position limit, to ensure orderly trading and settlement to contain high market volatility. Besides ensuring orderly trading and settlement, these steps were aimed at effective risk management, price discovery and maintenance of market integrity. (Image: Reuters)
7. DGTR Recommends Anti-Dumping Duty: The commerce ministry's investigation arm DGTR has recommended imposition of anti-dumping duty for five years on 'choline chloride', a chemical imported from China, Malaysia and Vietnam, to guard domestic players from cheap inbound shipments. The Directorate General of Trade Remedies (DGTR) has recommended duty in the range of USD 94 per tonne to USD 315 per tonne after conducting a probe on alleged dumping of Choline Chloride in all forms by these countries, following a complaint by a domestic manufacturer. (Image: Reuters)
7. DGTR Recommends Anti-Dumping Duty: The commerce ministry's investigation arm DGTR has recommended imposition of anti-dumping duty for five years on 'choline chloride', a chemical imported from China, Malaysia and Vietnam, to guard domestic players from cheap inbound shipments. The Directorate General of Trade Remedies (DGTR) has recommended duty in the range of USD 94 per tonne to USD 315 per tonne after conducting a probe on alleged dumping of Choline Chloride in all forms by these countries, following a complaint by a domestic manufacturer. (Image: Reuters)
8. Parliamentary Panel On Tobacco Sector: For providing benefits to farmers, a parliamentary panel has recommended permitting regulated foreign direct investment in the tobacco sector and establishing export-only tobacco farms to boost outward shipments. The Parliamentary Standing Committee on Commerce and Industry, chaired by YSR Congress leader Vijaysai Reddy, made these recommendations in its report submitted to Rajya Sabha Chairman M Venkaiah Naidu on Wednesday. The report is likely to be tabled in the upcoming session of Parliament. According to the report, the committee is of the opinion that the FDI in tobacco sector albeit in a regulated manner would stimulate the production and processing of Indian tobacco, thereby boosting its export. (stock image)
8. Parliamentary Panel On Tobacco Sector: For providing benefits to farmers, a parliamentary panel has recommended permitting regulated foreign direct investment in the tobacco sector and establishing export-only tobacco farms to boost outward shipments. The Parliamentary Standing Committee on Commerce and Industry, chaired by YSR Congress leader Vijaysai Reddy, made these recommendations in its report submitted to Rajya Sabha Chairman M Venkaiah Naidu on Wednesday. The report is likely to be tabled in the upcoming session of Parliament. According to the report, the committee is of the opinion that the FDI in tobacco sector albeit in a regulated manner would stimulate the production and processing of Indian tobacco, thereby boosting its export. (stock image)
9. India Risks Decade Of Stagnation If GDP Doesn't Grow Over 8% Annually: India's GDP needs to rise annually at 8-8.5 percent to create opportunities in the post COVID-19 era, and the country risks a decade of stagnating incomes and quality of life if urgent steps are not taken to spur growth, says a report. According to the report by McKinsey Global Institute (MGI), the country will have to undertake a slew of reform measures over the next 12-18 months with the aim of increasing productivity and creating jobs. Given the increasing urbanisation and population trends, there will be 90 million additional workers in search of non-farm jobs by 2030 and India will have to triple job creation to 12 million gainful non-farm jobs per year from the 4 million achieved between 2013 to 2018, it said. (stock image)
9. India Risks Decade Of Stagnation If GDP Doesn't Grow Over 8% Annually: India's GDP needs to rise annually at 8-8.5 percent to create opportunities in the post COVID-19 era, and the country risks a decade of stagnating incomes and quality of life if urgent steps are not taken to spur growth, says a report. According to the report by McKinsey Global Institute (MGI), the country will have to undertake a slew of reform measures over the next 12-18 months with the aim of increasing productivity and creating jobs. Given the increasing urbanisation and population trends, there will be 90 million additional workers in search of non-farm jobs by 2030 and India will have to triple job creation to 12 million gainful non-farm jobs per year from the 4 million achieved between 2013 to 2018, it said. (stock image)
10. Hospitality Industry Urges Govt To Extend Moratorium: The Federation of Hotel and Restaurant Associations of India (FHRAI) on Wednesday said it has urged the government and the Reserve Bank of India to an extend moratorium for additional three months. The association have sent written representation to Finance Minister Nirmala Sitharaman, Minister of State for Finance Anurag Singh Thakur and RBI Governor Shaktikanta Das seeking an extension of moratorium, FHRAI said in a release. The hotel industry has made no progress in terms of bookings even after several states unlocked and where hotels resumed operations, FHRAI said. It added that the industry has registered only average occupancy levels at 10-20 percent. (stock image)
10. Hospitality Industry Urges Govt To Extend Moratorium: The Federation of Hotel and Restaurant Associations of India (FHRAI) on Wednesday said it has urged the government and the Reserve Bank of India to an extend moratorium for additional three months. The association have sent written representation to Finance Minister Nirmala Sitharaman, Minister of State for Finance Anurag Singh Thakur and RBI Governor Shaktikanta Das seeking an extension of moratorium, FHRAI said in a release. The hotel industry has made no progress in terms of bookings even after several states unlocked and where hotels resumed operations, FHRAI said. It added that the industry has registered only average occupancy levels at 10-20 percent. (stock image)
Live TV
Advertisement