Motilal Oswal
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Motilal Oswal
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10 things you need to know before the opening bell on July 11

Updated : 2019-07-11 07:25:52

Indian shares are likely to open higher on Thursday, tracking gains in Asia, after US Federal Reserve chair Jerome Powell reinforced prospects of a US interest rate cut later this month. At 7.10 AM, the SGX Nifty futures traded 0.30 percent up, pointing to a higher start for the Sensex and the Nifty 50. On Wednesday, the Sensex ended 174 points lower while the Nifty closed below 11,500 for the first time since May 17, dragged mainly by auto, metal and PSU Bank stocks.

1. Asia: MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 percent, while Japan's Nikkei added 0.15 percent. South Korea's KOSPI climbed 0.7 percent. Australian stocks were steady. (Image: Reuters)
1. Asia: MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 percent, while Japan's Nikkei added 0.15 percent. South Korea's KOSPI climbed 0.7 percent. Australian stocks were steady. (Image: Reuters)
2. US: The Dow Jones Industrial Average rose 76.71 points, or 0.29 percent, to 26,860.2, the S&P 500 gained 13.44 points, or 0.45 percent, to 2,993.07 and the Nasdaq Composite added 60.80 points, or 0.75 percent, to 8,202.53. The Dow also hit an intraday record and the Nasdaq closed at an all-time high following the release of prepared remarks for Powell's testimony before the US House of Representatives Financial Services Committee. (Image: Reuters)
2. US: The Dow Jones Industrial Average rose 76.71 points, or 0.29 percent, to 26,860.2, the S&P 500 gained 13.44 points, or 0.45 percent, to 2,993.07 and the Nasdaq Composite added 60.80 points, or 0.75 percent, to 8,202.53. The Dow also hit an intraday record and the Nasdaq closed at an all-time high following the release of prepared remarks for Powell's testimony before the US House of Representatives Financial Services Committee. (Image: Reuters)
3. Markets At Close On Wednesday: Indian benchmark indices lower on Wednesday with the Nifty ending below 11,500 for the first time since May 17, dragged mainly by auto, metal and PSU Bank stocks. The Sensex ended 174 points higher at 38,557, while the broader Nifty50 index lost 57 points to end at 11,499. (Image: Reuters)
3. Markets At Close On Wednesday: Indian benchmark indices lower on Wednesday with the Nifty ending below 11,500 for the first time since May 17, dragged mainly by auto, metal and PSU Bank stocks. The Sensex ended 174 points higher at 38,557, while the broader Nifty50 index lost 57 points to end at 11,499. (Image: Reuters)
4. Crude Oil: US West Texas Intermediate (WTI) crude futures were up 11 cents at $60.54 a barrel by 0055 GMT, after earlier touching the highest since May 23 at $60.63. They gained 4.5 percent in the previous session. Brent crude futures were down 5 cents, or 0.1 percent, at $66.96 a barrel, after ending Wednesday up 4.4 percent. (Image: AP)
4. Crude Oil: US West Texas Intermediate (WTI) crude futures were up 11 cents at $60.54 a barrel by 0055 GMT, after earlier touching the highest since May 23 at $60.63. They gained 4.5 percent in the previous session. Brent crude futures were down 5 cents, or 0.1 percent, at $66.96 a barrel, after ending Wednesday up 4.4 percent. (Image: AP)
5. Currency: Indian rupee fell 3 paise, closing at 68.56 against the US dollar on Wednesday. The dollar index against a basket of six major currencies stood at 97.055 after falling 0.4 percent overnight, when it pulled back from a three-week peak of 97.588 in the wake of Powell's comments. (Image: Reuters)
5. Currency: Indian rupee fell 3 paise, closing at 68.56 against the US dollar on Wednesday. The dollar index against a basket of six major currencies stood at 97.055 after falling 0.4 percent overnight, when it pulled back from a three-week peak of 97.588 in the wake of Powell's comments. (Image: Reuters)
6. US Federal Reserve: Federal Reserve chairman Jerome Powell on Wednesday set the stage for the rate cut this month, as records from policymakers' latest meeting showed increasing fear that a US-China trade war that has done little to directly restrain growth is indirectly causing businesses to hold back on buying equipment, giving workers a raise and hiking their prices. Powell used an appearance before his congressional overseers on Wednesday to confirm that the US economy is still under threat from disappointing factory activity, tame inflation and a simmering trade war. (Image: AP)
6. US Federal Reserve: Federal Reserve chairman Jerome Powell on Wednesday set the stage for the rate cut this month, as records from policymakers' latest meeting showed increasing fear that a US-China trade war that has done little to directly restrain growth is indirectly causing businesses to hold back on buying equipment, giving workers a raise and hiking their prices. Powell used an appearance before his congressional overseers on Wednesday to confirm that the US economy is still under threat from disappointing factory activity, tame inflation and a simmering trade war. (Image: AP)
7. Forex Trading Hours: A RBI working group has suggested the calibrated extension of forex market trading hours from 9 am to 9 pm as it would help in gauging demand and potential benefits. RBI, in August 2018, had decided to set up an internal group to comprehensively review the timings of various markets it regulates and the associated payment and settlement infrastructure. The RBI regulates money markets, Government Securities (G-Sec) market, foreign exchange (Forex) market and the markets for derivatives on interest rate, currency and credit derivatives. (Image: Reuters)
7. Forex Trading Hours: A RBI working group has suggested the calibrated extension of forex market trading hours from 9 am to 9 pm as it would help in gauging demand and potential benefits. RBI, in August 2018, had decided to set up an internal group to comprehensively review the timings of various markets it regulates and the associated payment and settlement infrastructure. The RBI regulates money markets, Government Securities (G-Sec) market, foreign exchange (Forex) market and the markets for derivatives on interest rate, currency and credit derivatives. (Image: Reuters)
8. June Car Sales: Domestic passenger vehicles sales fell to 225,732 last month from 273,748 in the year-ago period, while two-wheeler sales dropped 11.7 percent in June, according to data released by the Society of Indian Automobile Manufacturers (SIAM). For the quarter ended June 30, vehicle sales across all categories declined by 12.35 percent to 61 lakh units. (Image: Stock)
8. June Car Sales: Domestic passenger vehicles sales fell to 225,732 last month from 273,748 in the year-ago period, while two-wheeler sales dropped 11.7 percent in June, according to data released by the Society of Indian Automobile Manufacturers (SIAM). For the quarter ended June 30, vehicle sales across all categories declined by 12.35 percent to 61 lakh units. (Image: Stock)
9. GDP Data: Swiss brokerage UBS has lowered the country's real GDP growth forecast to 6.7 percent from 6.9 percent earlier in FY20 citing the continuing slowdown in consumption demand and warned that a revival is unlikely before FY21. The brokerage expects the Reserve Bank to ease the policy rate by another 75 basis points as against its previous forecast 25 basis points in FY20. (Image: Stock)
9. GDP Data: Swiss brokerage UBS has lowered the country's real GDP growth forecast to 6.7 percent from 6.9 percent earlier in FY20 citing the continuing slowdown in consumption demand and warned that a revival is unlikely before FY21. The brokerage expects the Reserve Bank to ease the policy rate by another 75 basis points as against its previous forecast 25 basis points in FY20. (Image: Stock)
10: FDI Data: India Inc's foreign direct investment in June fell by over two times from a year ago to $820.36 million, data from the Reserve Bank of India showed Wednesday. The outward foreign direct investment (OFDI) by the Indian firms stood at $2.29 billion in the year-ago same month, according to the RBI data on OFDI. In May, the Indian firms had invested over $1.56 billion in their overseas ventures. (Image: Stock)
10: FDI Data: India Inc's foreign direct investment in June fell by over two times from a year ago to $820.36 million, data from the Reserve Bank of India showed Wednesday. The outward foreign direct investment (OFDI) by the Indian firms stood at $2.29 billion in the year-ago same month, according to the RBI data on OFDI. In May, the Indian firms had invested over $1.56 billion in their overseas ventures. (Image: Stock)
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