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10 things you need to know before the opening bell on August 9

Updated : 2019-08-09 08:38:11

Indian shares are likely to open higher on Friday following gains in Asian and after reports that the government may announce several market-friendly measures, including withdrawal of a hike in income tax surcharge on FPIs. Asian shares advanced supported by gains in US stocks and better-than-expected macro-economic data from China. Indian shares rose over 1.5 percent in the previous session. At 7.20 AM, the SGX Nifty futures traded 0.11 percent up at 11,083, indicating a positive start for the Sensex and the Nifty 50.

1. Asian shares caught the tail of a Wall Street rally on Friday, helped by China’s better-than-expected export figures but fresh concerns about Sino-US trade ties are likely to limit gains in the region, reported Reuters. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2 percent. Japan’s Nikkei average advanced 0.6 percent, while Australian stocks stood flat and South Korean stocks gained 1.0 percent. (Image: Reuters)
1. Asian shares caught the tail of a Wall Street rally on Friday, helped by China’s better-than-expected export figures but fresh concerns about Sino-US trade ties are likely to limit gains in the region, reported Reuters. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2 percent. Japan’s Nikkei average advanced 0.6 percent, while Australian stocks stood flat and South Korean stocks gained 1.0 percent. (Image: Reuters)
2. US: The S&P 500 registered its largest one-day percentage gain in about two months on Thursday, with technology shares providing the biggest boost as equities continued to rebound along with bond yields, reported Reuters. The Dow rose 1.43 percent, the S&P 500 gained 1.88 percent and the Nasdaq added 2.24 percent. (Image: Reuters)
2. US: The S&P 500 registered its largest one-day percentage gain in about two months on Thursday, with technology shares providing the biggest boost as equities continued to rebound along with bond yields, reported Reuters. The Dow rose 1.43 percent, the S&P 500 gained 1.88 percent and the Nasdaq added 2.24 percent. (Image: Reuters)
3. Indian shares ended higher on Thursday on hopes of FPI surcharge roll-back. The Nifty posted the biggest one-day gain in three months. The BSE Sensex ended 636.86 points higher at 37,327.36 and the Nifty50 added 176.95 points to settle at 11,032.45. Meanwhile, FIIs sold shares worth Rs 437 crore, while DIIs bought equities worth Rs 291 crore on a net basis. (Image: Reuters)
3. Indian shares ended higher on Thursday on hopes of FPI surcharge roll-back. The Nifty posted the biggest one-day gain in three months. The BSE Sensex ended 636.86 points higher at 37,327.36 and the Nifty50 added 176.95 points to settle at 11,032.45. Meanwhile, FIIs sold shares worth Rs 437 crore, while DIIs bought equities worth Rs 291 crore on a net basis. (Image: Reuters)
4. Crude oil prices rose in the morning of Asian trading hours, with the international benchmark Brent crude futures gaining 0.51 percent to $57.67 per barrel and U.S. crude futures adding 0.53 percent to $52.82 per barrel. (Image: Reuters)
4. Crude oil prices rose in the morning of Asian trading hours, with the international benchmark Brent crude futures gaining 0.51 percent to $57.67 per barrel and U.S. crude futures adding 0.53 percent to $52.82 per barrel. (Image: Reuters)
5. Currency: The dollar index inched up 0.02 percent on Thursday. The Indian rupee snapped its five-day losing streak to close higher by 20 paise at 70.69 against the US dollar. (Image: Reuters)
5. Currency: The dollar index inched up 0.02 percent on Thursday. The Indian rupee snapped its five-day losing streak to close higher by 20 paise at 70.69 against the US dollar. (Image: Reuters)
6. CBDT On Start-ups: Seeking to calm the nerves of startups worried over angel tax, the government has assured that explanation given by them to a tax notice in a limited scrutiny case would be summarily accepted without any questions asked by the taxman.<br />This is part of the procedure being laid out by the Central Board of Direct Taxes (CBDT) to deal with pending angel tax assessments of startups, a move aimed at easing tax compliance for such ventures. (Image: Reuters)
6. CBDT On Start-ups: Seeking to calm the nerves of startups worried over angel tax, the government has assured that explanation given by them to a tax notice in a limited scrutiny case would be summarily accepted without any questions asked by the taxman.
This is part of the procedure being laid out by the Central Board of Direct Taxes (CBDT) to deal with pending angel tax assessments of startups, a move aimed at easing tax compliance for such ventures. (Image: Reuters)
7. India's Domestic Air Traffic In June: India's domestic air passenger traffic rose 7.9 percent in June over the year ago period even as the average demand for domestic travel across seven major aviation markets declined in the reporting month to 4.4 percent from 4.7 percent earlier, IATA said on Thursday. The overall global passenger traffic (domestic and international), however, rose by 5 percent compared to June 2018, said the International Air Transport Association (IATA). (Getty Image)
7. India's Domestic Air Traffic In June: India's domestic air passenger traffic rose 7.9 percent in June over the year ago period even as the average demand for domestic travel across seven major aviation markets declined in the reporting month to 4.4 percent from 4.7 percent earlier, IATA said on Thursday. The overall global passenger traffic (domestic and international), however, rose by 5 percent compared to June 2018, said the International Air Transport Association (IATA). (Getty Image)
8. Import Duty On Solar Equipment: In a bid to encourage domestic manufacturing, India will increase import duty on solar equipment down the value chain in the coming years, Power Minister R K Singh said on Thursday.
8. Import Duty On Solar Equipment: In a bid to encourage domestic manufacturing, India will increase import duty on solar equipment down the value chain in the coming years, Power Minister R K Singh said on Thursday. "Right now safeguard duty is imposed on solar equipment which will be diluted in few years. We will increase tariff on solar equipment down the value chain in coming years," the minister said at a curtain raiser press conference on 3rd Global RE-Invest. Allaying fears that any hike in import duty may increase solar energy tariff bidding rate, he assured that it will not impact solar energy bidding process in India. (Image: Reuters)
9. SEBI Mulls Startup Norms: To help startups to move from the Innovators Growth Platform of stock exchanges to the mainboard for regular trading, regulator Sebi is planning a new set of norms to allow them to shift after one year of trading and expanding their shareholder base to at least 200. However, the regulator is of the view that if companies listed on the IGP are allowed to be traded in the regular category of mainboard without following stringent criteria, it may be misused to bypass the rigorous route of coming up with the main board IPO, officials said. (Image: Reuters)
9. SEBI Mulls Startup Norms: To help startups to move from the Innovators Growth Platform of stock exchanges to the mainboard for regular trading, regulator Sebi is planning a new set of norms to allow them to shift after one year of trading and expanding their shareholder base to at least 200. However, the regulator is of the view that if companies listed on the IGP are allowed to be traded in the regular category of mainboard without following stringent criteria, it may be misused to bypass the rigorous route of coming up with the main board IPO, officials said. (Image: Reuters)
10. SEBI On Mutual Funds: With an aim to safeguard mutual fund investors from high-risk assets, regulator Sebi wants fund houses to shift all their investments to listed or to-be-listed equity and debt securities in a phased manner and reduce their exposure to unrated debt instruments from 25 percent to only 5 percent. Exposure to risky debt securities has emerged as a major risk for the capital market investors, including those coming through the mutual fund space, and the regulator has been making efforts to enhance its regulatory safety net against such risks. (Image: Reuters)
10. SEBI On Mutual Funds: With an aim to safeguard mutual fund investors from high-risk assets, regulator Sebi wants fund houses to shift all their investments to listed or to-be-listed equity and debt securities in a phased manner and reduce their exposure to unrated debt instruments from 25 percent to only 5 percent. Exposure to risky debt securities has emerged as a major risk for the capital market investors, including those coming through the mutual fund space, and the regulator has been making efforts to enhance its regulatory safety net against such risks. (Image: Reuters)
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