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10 things you need to know before the opening bell on June 1

Updated : 2020-06-01 07:55:51

The Indian market is expected to open in the green on Monday after the home ministry allowed areas outside containment zones to be reopened in a phased manner. Positive momentum in the Asian peers may also support gains in the domestic market. At 7:30 am, the SGX Nifty traded 167 points higher at 9,649, indicating a positive start for the Sensex and Nifty50.

1. Asia: Stocks in Asia Pacific were mixed in Monday morning trade as a Chinese data release over the weekend showed the country’s factory activity expanding in May. In Japan, the Nikkei 225 added 0.56 percent as shares of index heavyweight and conglomerate Softbank Group jumped 2.07 percent. The Topix index also traded 0.3 percent higher. South Korea’s Kospi rose 0.77 percent. Meanwhile, shares in Australia declined, with the S&P/ASX 200 down 0.76 percent. Overall, the MSCI Asia ex-Japan index traded 0.17 percent higher. (Image: AP)
1. Asia: Stocks in Asia Pacific were mixed in Monday morning trade as a Chinese data release over the weekend showed the country’s factory activity expanding in May.
In Japan, the Nikkei 225 added 0.56 percent as shares of index heavyweight and conglomerate Softbank Group jumped 2.07 percent. The Topix index also traded 0.3 percent higher. South Korea’s Kospi rose 0.77 percent. Meanwhile, shares in Australia declined, with the S&P/ASX 200 down 0.76 percent. Overall, the MSCI Asia ex-Japan index traded 0.17 percent higher. (Image: AP)
2. US: U.S. stock futures fell on Sunday night as Wall Street was set to kick off June trading on a sour note after consecutive monthly gains. Dow Jones Industrial Average futures traded 39 points lower, or 0.15 percent. S&P 500 and Nasdaq 100 futures slid 0.2 percent each.The S&P 500 and Dow each gained at least 3 percent last week while the Nasdaq Composite advanced 1.8 percent to close out May. Those gains were propelled by increasing bets by traders that the global economy will successfully reopen after the coronavirus forces a shutdown of most economic activity. (Image: AP)
2. US: U.S. stock futures fell on Sunday night as Wall Street was set to kick off June trading on a sour note after consecutive monthly gains. Dow Jones Industrial Average futures traded 39 points lower, or 0.15 percent. S&P 500 and Nasdaq 100 futures slid 0.2 percent each.The S&P 500 and Dow each gained at least 3 percent last week while the Nasdaq Composite advanced 1.8 percent to close out May. Those gains were propelled by increasing bets by traders that the global economy will successfully reopen after the coronavirus forces a shutdown of most economic activity. (Image: AP)
3. Market At Close On Friday: Indian indices ended higher for the third straights session on Friday led by FMCG, auto and pharma stocks. Gains in index heavyweights ITC, HDFC, HUL, L&T, and Nestle also lifted the indices during the day. The Sensex ended 223 points higher at 32,424 while the Nifty rose 90 points to end at 9,580. On the Nifty50 index, IOC, Wipro, Coal India, Bajaj Auto and ONGC were the top gainers, while Axis Bank, Adani Ports, Bharti Airtel, TCS, and Titan led the losses. (Image: Reuters)
3. Market At Close On Friday: Indian indices ended higher for the third straights session on Friday led by FMCG, auto and pharma stocks. Gains in index heavyweights ITC, HDFC, HUL, L&T, and Nestle also lifted the indices during the day. The Sensex ended 223 points higher at 32,424 while the Nifty rose 90 points to end at 9,580. On the Nifty50 index, IOC, Wipro, Coal India, Bajaj Auto and ONGC were the top gainers, while Axis Bank, Adani Ports, Bharti Airtel, TCS, and Titan led the losses. (Image: Reuters)
4. Crude Oil: Oil jumped more than 5% on Friday, the last trading day of the month, capping off its best month in history as an uptick in demand as well as record supply cuts pushed prices higher. West Texas Intermediate, the U.S. oil benchmark, finished May with a gain of 88 percent. But experts are quick to note that the surge in prices follows the steepest downturn on record, and that oil still has a ways to go before it regains old highs. The OPEC+ production cuts as they stand now will begin to taper on July 1, and the group is expected to decide on whether or not to extend the deeper cuts at its June 9-10 meeting.  (Image: Reuters)
4. Crude Oil: Oil jumped more than 5% on Friday, the last trading day of the month, capping off its best month in history as an uptick in demand as well as record supply cuts pushed prices higher. West Texas Intermediate, the U.S. oil benchmark, finished May with a gain of 88 percent. But experts are quick to note that the surge in prices follows the steepest downturn on record, and that oil still has a ways to go before it regains old highs. The OPEC+ production cuts as they stand now will begin to taper on July 1, and the group is expected to decide on whether or not to extend the deeper cuts at its June 9-10 meeting.  (Image: Reuters)
5. Rupee Close: The rupee appreciated 14 paise to provisionally close at 75.62 against the US dollar on Friday as foreign fund inflows and weak American currency boosted investor confidence. Forex traders said investors are awaiting the country’s gross domestic product data for the January-March quarter, due later in the day, for further cues. The rupee opened at 75.71 at the interbank forex market, gained further ground, and finally settled at 75.62, up 14 paise over its last close. It had settled at 75.76 against the US dollar on Thursday. (Image: Reuters)
5. Rupee Close: The rupee appreciated 14 paise to provisionally close at 75.62 against the US dollar on Friday as foreign fund inflows and weak American currency boosted investor confidence. Forex traders said investors are awaiting the country’s gross domestic product data for the January-March quarter, due later in the day, for further cues. The rupee opened at 75.71 at the interbank forex market, gained further ground, and finally settled at 75.62, up 14 paise over its last close. It had settled at 75.76 against the US dollar on Thursday. (Image: Reuters)
6. Lockdown In Containment Zones Extended Till June 30: The home ministry has extended the lockdown in containment zones till June 30, and directed that areas outside containment zones be opened up in a phased manner. All activities that were prohibited earlier will be opened up in areas outside Containment Zones in a phased manner. In Phase I, religious places and places of worship for the public, hotels, restaurants and other hospitality services, and shopping malls will be permitted to open from June 8, 2020. The ministry will issue standard operating procedures for these activities, in consultation with the central ministries/departments concerned. (Image: AP)
6. Lockdown In Containment Zones Extended Till June 30: The home ministry has extended the lockdown in containment zones till June 30, and directed that areas outside containment zones be opened up in a phased manner. All activities that were prohibited earlier will be opened up in areas outside Containment Zones in a phased manner. In Phase I, religious places and places of worship for the public, hotels, restaurants and other hospitality services, and shopping malls will be permitted to open from June 8, 2020. The ministry will issue standard operating procedures for these activities, in consultation with the central ministries/departments concerned. (Image: AP)
7. Shopping Centres To Open From June 8: The government's decision to allow shopping centres and malls to open from June 8 will help ease enormous pressure that the industry was facing due to the lockdown, Shopping Centres Association of India (SCAI) said on Saturday. Welcoming the steps announced in the fresh guidelines by the home ministry, SCAI Chairman Amitabh Taneja said,
7. Shopping Centres To Open From June 8: The government's decision to allow shopping centres and malls to open from June 8 will help ease enormous pressure that the industry was facing due to the lockdown, Shopping Centres Association of India (SCAI) said on Saturday. Welcoming the steps announced in the fresh guidelines by the home ministry, SCAI Chairman Amitabh Taneja said, "Revival and resurgence is a long process, which has just about begun".  "The relaxation is certainly going to help ease an unimaginable amount of pressure that was put on the industry following the lockdown." (Image: AP)
8. Piyush Goyal On Startups: Commerce minister Piyush Goyal has said most startups will be eligible for additional liquidity and funding under the credit and funding support announced for MSMEs under the Aatmanirbhar Bharat Abhiyan package. Goyal told CNN News18 that the government is ready to support stressed startups.
8. Piyush Goyal On Startups: Commerce minister Piyush Goyal has said most startups will be eligible for additional liquidity and funding under the credit and funding support announced for MSMEs under the Aatmanirbhar Bharat Abhiyan package. Goyal told CNN News18 that the government is ready to support stressed startups. "Most of the startups will be eligible for additional liquidity and funding under the Rs 3 lakh crore, 100% credit guarantee credit facilities under the Aatmanirbhar Bharat package," Goyal said in an interview with the channel on Saturday. (Representational Image)
9. Centre To Arrange Special Trains For Labourers To Return To Workplace: The Centre on Saturday said it would arrange special trains to facilitate the return of labourers to their workplaces, following concerns raised by industries regarding the shortage of labour hitting production and logistics. Minister of State for Finance and Corporate Affairs Anurag Singh Thakur, after listening to the problem of labour shortage from the industries, assured that special trains would be arranged so that labourers can return to their workplaces, Bharat Chamber of Commerce said in a statement. (Image:AP)
9. Centre To Arrange Special Trains For Labourers To Return To Workplace: The Centre on Saturday said it would arrange special trains to facilitate the return of labourers to their workplaces, following concerns raised by industries regarding the shortage of labour hitting production and logistics. Minister of State for Finance and Corporate Affairs Anurag Singh Thakur, after listening to the problem of labour shortage from the industries, assured that special trains would be arranged so that labourers can return to their workplaces, Bharat Chamber of Commerce said in a statement. (Image:AP)
10. NHAI Plans Model Stretches Of Highways In Every State: NHAI is planning to develop 57 stretches of national highway (1735 km) across the length and breadth of the country near each state capital, the agency said in a release. The aim is to exhibit the model stretches of National Highways and also use it as a platform to educate the highway engineers of the country, including state PWD engineers, NHAI said. Some of the NH sections identified for development as model stretches are Dausa to Jaipur, Jalandhar to Amritsar, Srinagar to Banihal, Varanasi Ring Road, Chennai Bypass, MP/MH border to Nagpur including Nagpur Bypass, Brahmputra Bridge to Guwahati. (Image: Reuters)
10. NHAI Plans Model Stretches Of Highways In Every State: NHAI is planning to develop 57 stretches of national highway (1735 km) across the length and breadth of the country near each state capital, the agency said in a release. The aim is to exhibit the model stretches of National Highways and also use it as a platform to educate the highway engineers of the country, including state PWD engineers, NHAI said. Some of the NH sections identified for development as model stretches are Dausa to Jaipur, Jalandhar to Amritsar, Srinagar to Banihal, Varanasi Ring Road, Chennai Bypass, MP/MH border to Nagpur including Nagpur Bypass, Brahmputra Bridge to Guwahati. (Image: Reuters)
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