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10 things you need to know before the opening bell on August 4

Updated : 2020-08-04 08:30:41

The Indian market is likely to open higher Tuesday following gains in Asian peers. At 8:20 am, the SGX Nifty was trading 26 points or 0.24 percent higher at 10,942, indicating a positive start for the Sensex and Nifty50.

1. Asia: Stocks in Asia Pacific traded higher Tuesday morning as investors await the Reserve Bank of Australia’s decision on interest rates. The S&P/ASX 200 in Australia surged 2.15 percent. The Nikkei 225 gained 1.39 percent while the Topix index advanced 1.62 percent. South Korea’s Kospi gained 1.37 percent. Mainland Chinese stocks were mixed in early trade, with Shanghai composite fractionally higher while the Shenzhen component dipped slightly, reported CNBC International. (Image: Reuters)
1. Asia: Stocks in Asia Pacific traded higher Tuesday morning as investors await the Reserve Bank of Australia’s decision on interest rates. The S&P/ASX 200 in Australia surged 2.15 percent. The Nikkei 225 gained 1.39 percent while the Topix index advanced 1.62 percent. South Korea’s Kospi gained 1.37 percent. Mainland Chinese stocks were mixed in early trade, with Shanghai composite fractionally higher while the Shenzhen component dipped slightly, reported CNBC International. (Image: Reuters)
2. US: Stock futures traded along the flatline on Monday night after the major averages logged in sharp gains to start the new month earlier in the day. Dow Jones Industrial Average futures were up just 1 point or less than 0.1 percent. S&P 500 and Nasdaq 100 futures posted marginal moves as well. The Dow closed Monday’s session up more than 200 points, or 0.9 percent. The S&P 500 rallied to its highest level since Feb. 21 and the Nasdaq closed at a record high, reported CNBC International. (Image: AP)
2. US: Stock futures traded along the flatline on Monday night after the major averages logged in sharp gains to start the new month earlier in the day. Dow Jones Industrial Average futures were up just 1 point or less than 0.1 percent. S&P 500 and Nasdaq 100 futures posted marginal moves as well. The Dow closed Monday’s session up more than 200 points, or 0.9 percent. The S&P 500 rallied to its highest level since Feb. 21 and the Nasdaq closed at a record high, reported CNBC International. (Image: AP)
3. Market At Close On Monday: Indian shares fell for the fourth straight session to end over 1.5 percent lower on Monday as banking stocks tumbled on mixed expectations for an upcoming interest rate decision. Meanwhile, surging domestic coronavirus cases also dented the sentiment. The Sensex ended 667 points lower at 36,939 while the Nifty lost 182 points to settle at 10,891. Index heavyweights RIL, HDFC twins, and Kotak Bank were the biggest contributor to the losses. (Image: Reuters)
3. Market At Close On Monday: Indian shares fell for the fourth straight session to end over 1.5 percent lower on Monday as banking stocks tumbled on mixed expectations for an upcoming interest rate decision. Meanwhile, surging domestic coronavirus cases also dented the sentiment. The Sensex ended 667 points lower at 36,939 while the Nifty lost 182 points to settle at 10,891. Index heavyweights RIL, HDFC twins, and Kotak Bank were the biggest contributor to the losses. (Image: Reuters)
4. Crude Oil: Oil prices rose nearly 2 percent on Monday on positive economic data from Europe, Asia and the United States, but investors remained concerned about rising COVID-19 cases globally and oversupply as OPEC begins to lift supply cuts. Brent crude rose 86 cents, or 2 percent, to $44.38 a barrel, while West Texas Intermediate crude settled 74 cents, or 1.84 percent, higher at $41.01 per barrel, reported CNBC International.  (Image: Reuters)
4. Crude Oil: Oil prices rose nearly 2 percent on Monday on positive economic data from Europe, Asia and the United States, but investors remained concerned about rising COVID-19 cases globally and oversupply as OPEC begins to lift supply cuts. Brent crude rose 86 cents, or 2 percent, to $44.38 a barrel, while West Texas Intermediate crude settled 74 cents, or 1.84 percent, higher at $41.01 per barrel, reported CNBC International.  (Image: Reuters)
5. Rupee Close: The Indian currency ended at a two-week low against the US dollar, tracking weakness in domestic equities. The Indian rupee ended at 75.01 against the US dollar as compared to Friday's close of 74.82. (Image: Reuters)
5. Rupee Close: The Indian currency ended at a two-week low against the US dollar, tracking weakness in domestic equities. The Indian rupee ended at 75.01 against the US dollar as compared to Friday's close of 74.82. (Image: Reuters)
6. Trump On H1B Visa: In a huge blow to Indian IT professionals eyeing the US job market, President Donald Trump on Monday signed an executive order preventing federal agencies from contracting or subcontracting foreign workers -- mainly those on H-1B visa -- from hiring. The move came over a month after the Trump administration in June 23 suspended the H-1B visas along with other types of foreign work visas until the end of 2020 to protect American workers in a crucial election year. The new restrictions took effect from June 24. Trump told reporters that his administration will not tolerate the firing of hardworking Americans in the pursuit of cheap foreign labour. (Image: AP)
6. Trump On H1B Visa: In a huge blow to Indian IT professionals eyeing the US job market, President Donald Trump on Monday signed an executive order preventing federal agencies from contracting or subcontracting foreign workers -- mainly those on H-1B visa -- from hiring. The move came over a month after the Trump administration in June 23 suspended the H-1B visas along with other types of foreign work visas until the end of 2020 to protect American workers in a crucial election year. The new restrictions took effect from June 24. Trump told reporters that his administration will not tolerate the firing of hardworking Americans in the pursuit of cheap foreign labour. (Image: AP)
7. Restriction On TV Imports To Help Domestic Industry: The government's move to put restrictions on imports of colour televisions will encourage the domestic industry as well as help build capacities for exports, according to industry body ICEA. The India Cellular & Electronics Association (ICEA) said it has been a long-standing demand to put restrictions on the import of colour televisions (CTVs) to encourage domestic manufacturing activity. CTVs up to Rs 600-700 crore were being imported from ASEAN countries, through zero-duty FTA, it said in a statement. (Stock Image)
7. Restriction On TV Imports To Help Domestic Industry: The government's move to put restrictions on imports of colour televisions will encourage the domestic industry as well as help build capacities for exports, according to industry body ICEA. The India Cellular & Electronics Association (ICEA) said it has been a long-standing demand to put restrictions on the import of colour televisions (CTVs) to encourage domestic manufacturing activity. CTVs up to Rs 600-700 crore were being imported from ASEAN countries, through zero-duty FTA, it said in a statement. (Stock Image)
8. JNPT Imports Could Get Back To Normal: The country's largest container handling port JNPT on Monday said it expects imports to get back to normal from the end of this month while exports have already picked up, seeing an increase in the shipments last month. The port has reported a 19 per cent spike in overall traffic to 4.85 million tonnes in July over June, while container traffic rose to 3,44,316 twenty-foot equivalent units during the same period, registering a growth of 19 per cent over June 2019, Jawaharlal Nehru Port Trust (JNPT) said in a release. The port handled a total of 196 vessels in July, it said. (Image: Reuters)
8. JNPT Imports Could Get Back To Normal: The country's largest container handling port JNPT on Monday said it expects imports to get back to normal from the end of this month while exports have already picked up, seeing an increase in the shipments last month. The port has reported a 19 per cent spike in overall traffic to 4.85 million tonnes in July over June, while container traffic rose to 3,44,316 twenty-foot equivalent units during the same period, registering a growth of 19 per cent over June 2019, Jawaharlal Nehru Port Trust (JNPT) said in a release. The port handled a total of 196 vessels in July, it said. (Image: Reuters)
9. India Imposes Anti-Dumping Duty On Digital Printing: India has imposed anti-dumping duty on digital printing plates from China, Japan, Korea, Taiwan and Vietnam for five years with a view to guard domestic manufacturers from cheap imports from these countries. The Commerce Ministry's investigation arm Directorate General of Trade Remedies (DGTR) recommended the duty after its probe concluded that there is a substantial increase in imports of digital offset printing plates from these countries in absolute terms.
9. India Imposes Anti-Dumping Duty On Digital Printing: India has imposed anti-dumping duty on digital printing plates from China, Japan, Korea, Taiwan and Vietnam for five years with a view to guard domestic manufacturers from cheap imports from these countries. The Commerce Ministry's investigation arm Directorate General of Trade Remedies (DGTR) recommended the duty after its probe concluded that there is a substantial increase in imports of digital offset printing plates from these countries in absolute terms. "The anti-dumping duty imposed under this notification shall be effective for a period of five years (unless revoked, superseded or amended earlier)," the Department of Revenue said in a notification. (Image: Reuters)
10. FDI On Coal Mining With Neighbouring Country Gets Stricter: The Centre on Monday clarified that any foreign direct investment (FDI) in commercial coal mining from an entity of a country that shares land border with India will be allowed only after government approval.
10. FDI On Coal Mining With Neighbouring Country Gets Stricter: The Centre on Monday clarified that any foreign direct investment (FDI) in commercial coal mining from an entity of a country that shares land border with India will be allowed only after government approval. "This is with reference to the ongoing auction process of coal mines for commercial coal mining...It is further clarified that any FDI (foreign direct investment) in the commercial coal mining is subject to applicable laws including the Press Note 3 of 2020 issued by the Central Government....," the coal ministry said in a statement. A corrigendum to the tender document has also been issued in this regard, it added. (Image: Reuters)
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