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Economy

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

Updated : 2020-07-09 07:53:30

The Indian market is likely to open higher on Thursday following a positive trend in the global markets. At 7:25 am, the SGX Nifty was trading 25.50 points or 0.24 percent higher at 10,737.80, indicating a positive start for the Sensex and Nifty50.

1. Asia: Shares in Asia Pacific were mostly higher in Thursday morning trade as investors await the release of Chinese inflation data. The Nikkei 225 in Japan rose 0.27 percent in early trade as shares of conglomerate Softbank Group soared more than 4 percent. The Topix index, however, slipped 0.1 percent. Over in South Korea, the Kospi advanced 0.71 percent. Australia’s S&P/ASX 200 gained 0.79 percent. Overall, the MSCI Asia ex-Japan index traded 0.27 percent higher. (Image: Reuters)
1. Asia: Shares in Asia Pacific were mostly higher in Thursday morning trade as investors await the release of Chinese inflation data. The Nikkei 225 in Japan rose 0.27 percent in early trade as shares of conglomerate Softbank Group soared more than 4 percent. The Topix index, however, slipped 0.1 percent. Over in South Korea, the Kospi advanced 0.71 percent. Australia’s S&P/ASX 200 gained 0.79 percent. Overall, the MSCI Asia ex-Japan index traded 0.27 percent higher. (Image: Reuters)
2. US: Futures contracts tied to the major U.S. stock indexes held steady during the overnight session Wednesday evening just hours after the Nasdaq Composite clinched its 25th record close for 2020. Dow Jones Industrial Average futures fell 27 points, implying an opening move around the flatline when trading resumes on Thursday. S&P 500 and Nasdaq-100 futures pointed to similar muted action Thursday morning. (Image: Reuters)
2. US: Futures contracts tied to the major U.S. stock indexes held steady during the overnight session Wednesday evening just hours after the Nasdaq Composite clinched its 25th record close for 2020. Dow Jones Industrial Average futures fell 27 points, implying an opening move around the flatline when trading resumes on Thursday. S&P 500 and Nasdaq-100 futures pointed to similar muted action Thursday morning. (Image: Reuters)
3. Market At Close On Wednesday: Indian benchmark indices, Sensex and Nifty, snapped five-day gaining streak to end Wednesday's volatile session lower amid cautiousness over a surge in coronavirus infection cases. The Sensex ended 345.51 points or 0.94 percent lower at 36,329.01 while the Nifty lost 93.90 points or 0.87 percent to settle at 10,705.75. Losses in IT and auto stocks offset gains in metals and private-sector lenders. (Image: Reuters)
3. Market At Close On Wednesday: Indian benchmark indices, Sensex and Nifty, snapped five-day gaining streak to end Wednesday's volatile session lower amid cautiousness over a surge in coronavirus infection cases. The Sensex ended 345.51 points or 0.94 percent lower at 36,329.01 while the Nifty lost 93.90 points or 0.87 percent to settle at 10,705.75. Losses in IT and auto stocks offset gains in metals and private-sector lenders. (Image: Reuters)
4. Crude Oil: Oil prices edged up on Wednesday on signs of a recovery in gasoline consumption in the United States, but rising U.S. crude inventories and an increase in coronavirus infections limited gains. Brent crude futures rose 25 cents to $43.37 a barrel. West Texas Intermediate crude futures settled 28 cents, or 0.69 percent, higher at $40.90 per barrel. (Image: Reuters)
4. Crude Oil: Oil prices edged up on Wednesday on signs of a recovery in gasoline consumption in the United States, but rising U.S. crude inventories and an increase in coronavirus infections limited gains. Brent crude futures rose 25 cents to $43.37 a barrel. West Texas Intermediate crude futures settled 28 cents, or 0.69 percent, higher at $40.90 per barrel. (Image: Reuters)
5. Rupee Close: The Indian currency depreciated 9 paise on Wednesday amidst volatile domestic equities, rising crude oil prices and strengthening American currency. The rupee opened on a positive note at 74.88 at the interbank forex market, but lost ground and closed at 75.02 against the US dollar, down 9 paise over its last close as compared to Tuesday's close of 74.93. (Image: Reuters)
5. Rupee Close: The Indian currency depreciated 9 paise on Wednesday amidst volatile domestic equities, rising crude oil prices and strengthening American currency. The rupee opened on a positive note at 74.88 at the interbank forex market, but lost ground and closed at 75.02 against the US dollar, down 9 paise over its last close as compared to Tuesday's close of 74.93. (Image: Reuters)
6. India Imposes Anti-Dumping Duty On Certain Measurement Tapes: India on Wednesday again imposed definitive anti-dumping duty on certain types of measuring tapes from China for five years to guard domestic manufacturers from cheap imports. The duty was imposed on 'steel and fiberglass measuring tapes and their parts and components' after the commerce ministry's investigation arm Directorate General of Trade Remedies (DGTR) recommended for continuation of the duty. The DGTR in its sunset review probe has concluded that there is continued dumping of the goods from China, and the imports are likely to enter the Indian market at dumped prices in the event of expiry of the duty. (Image: Reuters)
6. India Imposes Anti-Dumping Duty On Certain Measurement Tapes: India on Wednesday again imposed definitive anti-dumping duty on certain types of measuring tapes from China for five years to guard domestic manufacturers from cheap imports. The duty was imposed on 'steel and fiberglass measuring tapes and their parts and components' after the commerce ministry's investigation arm Directorate General of Trade Remedies (DGTR) recommended for continuation of the duty. The DGTR in its sunset review probe has concluded that there is continued dumping of the goods from China, and the imports are likely to enter the Indian market at dumped prices in the event of expiry of the duty. (Image: Reuters)
7. Cabinet Approves Development Of Affordable Rental Housing Complexes: The Union Cabinet on Wednesday approved the development of Affordable Rental Housing Complexes (ARHC) for urban migrants and poor that will make housing available at affordable rent close to the place of work, the government said. As part of ARHC, existing vacant government-funded housing complexes will be converted into Affordable Rental Housing Complexes through
7. Cabinet Approves Development Of Affordable Rental Housing Complexes: The Union Cabinet on Wednesday approved the development of Affordable Rental Housing Complexes (ARHC) for urban migrants and poor that will make housing available at affordable rent close to the place of work, the government said. As part of ARHC, existing vacant government-funded housing complexes will be converted into Affordable Rental Housing Complexes through "concession agreements" for 25 years, an official statement said. Affordable Rental Housing Complexes is a sub-scheme under the Pradhan Mantri Awas Yojana-Urban. (Image: Reuters)
8. Government Approves Rs 12,450 Crore Capital Infusion In 3 Insurers: The Union Cabinet on Wednesday approved capital infusion of Rs 12,450 crore in three state-owned general insurance companies to strengthen their capital base and make them more stable. The National Insurance Company, Oriental Insurance Company and United Insurance Company will get the additional capital, Information and Broadcasting Minister Prakash Javadekar told reporters after the cabinet meeting. The recapitalization will make the three state-owned general insurance companies more stable, the minister said. (Image: Reuters)
8. Government Approves Rs 12,450 Crore Capital Infusion In 3 Insurers: The Union Cabinet on Wednesday approved capital infusion of Rs 12,450 crore in three state-owned general insurance companies to strengthen their capital base and make them more stable. The National Insurance Company, Oriental Insurance Company and United Insurance Company will get the additional capital, Information and Broadcasting Minister Prakash Javadekar told reporters after the cabinet meeting. The recapitalization will make the three state-owned general insurance companies more stable, the minister said. (Image: Reuters)
9. US Will Not Issue Visas To Foreign Students: In a major setback for Indian students in the United States, the US State Department has said it will not issue visas to students enrolled in schools that are fully online in the fall semester. All students with active F1 and M1 non-immigrant visas will not be allowed in the US and those already present in the country may be asked to depart if they are not receiving a minimum amount of in person instruction. The new rules would in force during the fall semester which goes on from August to December. (Image: Reuters)
9. US Will Not Issue Visas To Foreign Students: In a major setback for Indian students in the United States, the US State Department has said it will not issue visas to students enrolled in schools that are fully online in the fall semester. All students with active F1 and M1 non-immigrant visas will not be allowed in the US and those already present in the country may be asked to depart if they are not receiving a minimum amount of in person instruction. The new rules would in force during the fall semester which goes on from August to December. (Image: Reuters)
10. Hiring Activities Up 33% In June: Hiring activities in June remained muted on a year-on-year basis, but registered an increase over the previous month amid nationwide relaxations of coronavirus-induced lockdown norms, a report said on Wednesday. The Naukri JobSpeak Index for the month of June stood at 1,208, registering an improvement of 33 percent compared to May when it was at 910. However, on year-on-year basis, the hiring activity was still down by 44 percent. The Naukri JobSpeak is a monthly Index that calculates and records hiring activities based on the job listings on Naukri.com. (Representational Image)
10. Hiring Activities Up 33% In June: Hiring activities in June remained muted on a year-on-year basis, but registered an increase over the previous month amid nationwide relaxations of coronavirus-induced lockdown norms, a report said on Wednesday. The Naukri JobSpeak Index for the month of June stood at 1,208, registering an improvement of 33 percent compared to May when it was at 910. However, on year-on-year basis, the hiring activity was still down by 44 percent. The Naukri JobSpeak is a monthly Index that calculates and records hiring activities based on the job listings on Naukri.com. (Representational Image)
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