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

Updated : 2019-07-04 07:38:37

Indian benchmark indices are set for a positive start on Thursday over hopes that the government could announce measures in the fiscal Budget to ease liquidity situation and boost the slowing economy. Finance minister Nirmala Sitharaman will present her first Union Budget in the Parliament on July 5. Meanwhile, Asian stocks advanced tracking sharp gains on Wall Street as recent data from multiple sectors pointed to slowing economic growth in the United States. At 07:00 AM, the SGX Nifty futures traded 15.50 points, or 0.13 percent, higher at 11,963.50, suggesting a positive start for the Sensex and the Nifty 50.

1. Asia: Asian stocks advanced on Thursday, tracking sharp gains on Wall Street as recent data from multiple sectors pointed to slowing economic growth in the United States, bolstering the prospect of rate cuts by the Federal Reserve. The Nikkei jumped 0.31 percent in early trade, while South Korea's Kospi added 0.32 percent. (Image: Reuters)
1. Asia: Asian stocks advanced on Thursday, tracking sharp gains on Wall Street as recent data from multiple sectors pointed to slowing economic growth in the United States, bolstering the prospect of rate cuts by the Federal Reserve. The Nikkei jumped 0.31 percent in early trade, while South Korea's Kospi added 0.32 percent. (Image: Reuters)
2. US: Stocks closed at record high on Wednesday as investors bet on a potential note cut from the Federal Reserve later this month after the release of weaker-than-expected economic data. On Wall Street, the Dow Jones Industrial Average rose 179.32 points, or 0.67 percent, to 26,966, the S&P 500 gained 22.81 points, or 0.77 percent, to 2,995.82 and the Nasdaq Composite added 61.14 points, or 0.75 percent, to 8,170.23. The U.S. market closed early due to the Fourth of July holiday and will reopen Friday, when the closely-watched monthly jobs report will provide one of the most important data points before the Federal Reserve holds its next meeting at the end of the month. (Image: Reuters)
2. US: Stocks closed at record high on Wednesday as investors bet on a potential note cut from the Federal Reserve later this month after the release of weaker-than-expected economic data. On Wall Street, the Dow Jones Industrial Average rose 179.32 points, or 0.67 percent, to 26,966, the S&P 500 gained 22.81 points, or 0.77 percent, to 2,995.82 and the Nasdaq Composite added 61.14 points, or 0.75 percent, to 8,170.23. The U.S. market closed early due to the Fourth of July holiday and will reopen Friday, when the closely-watched monthly jobs report will provide one of the most important data points before the Federal Reserve holds its next meeting at the end of the month. (Image: Reuters)
3. Markets At Close On Wednesday: Indian shares closed largely unchanged on Wednesday as weak global data hurt sentiment, while investors awaited for positive developments from the Union Budget. The broader NSE Nifty closed 0.05 percent higher at 11,916.75, while the benchmark BSE Sensex settled 0.06 percent firmer at 39,839.25. The rupee closed at Rs 68.91 against the US dollar, 0.02 percent lower on Wednesday. (Image: Reuters)
3. Markets At Close On Wednesday: Indian shares closed largely unchanged on Wednesday as weak global data hurt sentiment, while investors awaited for positive developments from the Union Budget. The broader NSE Nifty closed 0.05 percent higher at 11,916.75, while the benchmark BSE Sensex settled 0.06 percent firmer at 39,839.25. The rupee closed at Rs 68.91 against the US dollar, 0.02 percent lower on Wednesday. (Image: Reuters)
4. FIIs & DIIs: Foreign institutional investors (FIIs) sold shares worth Rs 390 crore on a net basis in the cash market, while domestic institutional investors (DIIs) bought shares worth Rs 288 crore. (Image: Reuters)
4. FIIs & DIIs: Foreign institutional investors (FIIs) sold shares worth Rs 390 crore on a net basis in the cash market, while domestic institutional investors (DIIs) bought shares worth Rs 288 crore. (Image: Reuters)
5. Crude Oil: Oil prices inched lower on Thursday after solid gains the day before, pressured by data showing a smaller-than-expected decline in U.S. crude stockpiles. Front-month Brent crude futures, the international benchmark for oil prices, were down 0.4 percent at $63.60 per barrel by 0112 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 0.3 percent at $57.18 per barrel.  (Image: Reuters)
5. Crude Oil: Oil prices inched lower on Thursday after solid gains the day before, pressured by data showing a smaller-than-expected decline in U.S. crude stockpiles. Front-month Brent crude futures, the international benchmark for oil prices, were down 0.4 percent at $63.60 per barrel by 0112 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 0.3 percent at $57.18 per barrel.  (Image: Reuters)
6. Reserve Bank of India: The Reserve Bank on Wednesday said it has constituted a working group that will review the regulatory and supervisory framework for core investment companies. In August 2010, RBI had introduced a separate framework for the regulation of systemically important core investment companies (CICs), recognising the difference in the business model of a holding company relative to other non-banking financial companies. (Image: Reuters)
6. Reserve Bank of India: The Reserve Bank on Wednesday said it has constituted a working group that will review the regulatory and supervisory framework for core investment companies. In August 2010, RBI had introduced a separate framework for the regulation of systemically important core investment companies (CICs), recognising the difference in the business model of a holding company relative to other non-banking financial companies. (Image: Reuters)
7. Kharif Crops: The Union Cabinet on Wednesday gave its nod to hike the minimum support price (MSP) for kharif crops. MSP of paddy increased by Rs 65 per quintal, Jowar by Rs 120 per quintal and Ragi by Rs 253 per quintal. (Image: Reuters)
7. Kharif Crops: The Union Cabinet on Wednesday gave its nod to hike the minimum support price (MSP) for kharif crops. MSP of paddy increased by Rs 65 per quintal, Jowar by Rs 120 per quintal and Ragi by Rs 253 per quintal. (Image: Reuters)
7. Telecom: Telecom operators need to be financially sound to build up infrastructure and there is a need to review the auction architecture as they cannot pay high prices for spectrum, a senior Niti Aayog official said.
7. Telecom: Telecom operators need to be financially sound to build up infrastructure and there is a need to review the auction architecture as they cannot pay high prices for spectrum, a senior Niti Aayog official said. "We need telcos also to be financially sound. They cannot pay through the nose for spectrum auction. Again, it is not an area of my expertise but my personal view is that we need to relook at the whole auction architecture, not only in spectrum but also in mining and other areas," Niti Aayog Special Secretary Yaduvendra Mathur said at Broadband India Forum (BIF) event here. (Image: Reuters)
8. Tax Department: The tax department has extended by three months till July 31 the deadline for service providers with turnover of up to Rs 50 lakh to opt for the composition scheme and pay six per cent goods and services tax (GST). The GST Council, chaired by Finance Minister and comprising state counterparts, has permitted such service providers to opt for composition scheme and pay taxes at reduced rate of six per cent beginning April 1, 2019. This is against the higher rates of 12 and 18 per cent levied for most services under GST. (stock image)
8. Tax Department: The tax department has extended by three months till July 31 the deadline for service providers with turnover of up to Rs 50 lakh to opt for the composition scheme and pay six per cent goods and services tax (GST). The GST Council, chaired by Finance Minister and comprising state counterparts, has permitted such service providers to opt for composition scheme and pay taxes at reduced rate of six per cent beginning April 1, 2019. This is against the higher rates of 12 and 18 per cent levied for most services under GST. (stock image)
10. US China: Top representatives from the United States and China are arranging to resume talks next week to try to resolve a year-long trade war between the world's two largest economies, Trump administration officials said on Wednesday.
10. US China: Top representatives from the United States and China are arranging to resume talks next week to try to resolve a year-long trade war between the world's two largest economies, Trump administration officials said on Wednesday. "Those talks will continue in earnest this coming week," White House Economic Adviser Larry Kudlow told reporters in a briefing. (Image: Reuters)
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