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10 things you need to know before the opening bell on June 19

Updated : 2020-06-19 08:04:13

The Indian market is likely to open in the red on Friday following global peers as investors remained cautious amid a rise in coronavirus cases in some countries and India-China border tensions continued. At 7:40 am, the SGX Nifty traded 45 points lower at 10,029, indicating a lower start for the Sensex and the Nifty50.

1. Asia: Stocks in Asia Pacific were mixed in Friday morning trade as investors continued to monitor the situation surrounding a recent uptick in coronavirus cases in some countries. Japan’s Nikkei 225 gained 0.18 percent while the Topix index shed 0.39 percent. Over in South Korea, the Kospi fell 0.75 percent. Shares in Australia saw gains, with the S&P/ASX 200 up 0.39 percent. Overall, the MSCI Asia ex-Japan index traded 0.14 percent lower. Investor focus on Friday likely remained on developments surrounding the resurgence of coronavirus in some places, with four states in the U.S. reporting record spikes in cases. (Image: AP)
1. Asia: Stocks in Asia Pacific were mixed in Friday morning trade as investors continued to monitor the situation surrounding a recent uptick in coronavirus cases in some countries. Japan’s Nikkei 225 gained 0.18 percent while the Topix index shed 0.39 percent. Over in South Korea, the Kospi fell 0.75 percent. Shares in Australia saw gains, with the S&P/ASX 200 up 0.39 percent. Overall, the MSCI Asia ex-Japan index traded 0.14 percent lower. Investor focus on Friday likely remained on developments surrounding the resurgence of coronavirus in some places, with four states in the U.S. reporting record spikes in cases. (Image: AP)
2. US: U.S. stock futures were little changed on Thursday night following a muted session in which traders grappled with disappointing unemployment data and rising coronavirus cases. Dow Jones Industrial Average futures gained just 27 points, but pointing to a Friday opening dip of about 20 points. S&P 500 and Nasdaq-100 futures pointed to a little changed Friday open for the two indexes. (Image: Reuters)
2. US: U.S. stock futures were little changed on Thursday night following a muted session in which traders grappled with disappointing unemployment data and rising coronavirus cases. Dow Jones Industrial Average futures gained just 27 points, but pointing to a Friday opening dip of about 20 points. S&P 500 and Nasdaq-100 futures pointed to a little changed Friday open for the two indexes. (Image: Reuters)
3. Market At Close On Thursday: Indian indices ended 2 percent higher on Thursday led by gains in financials and index heavyweight Reliance Industries. The gains came after the Supreme Court allowed DoT (Department of Telecom) more time to consider telcos' proposals. The next hearing on this will be held in third week of July. In the meanwhile, the telcos have been asked to submit financial documents. The Sensex ended 700 points higher at 34,208, while the Nifty50 rose 210 points to settle at 10,092. (Image: Reuters)
3. Market At Close On Thursday: Indian indices ended 2 percent higher on Thursday led by gains in financials and index heavyweight Reliance Industries. The gains came after the Supreme Court allowed DoT (Department of Telecom) more time to consider telcos' proposals. The next hearing on this will be held in third week of July. In the meanwhile, the telcos have been asked to submit financial documents. The Sensex ended 700 points higher at 34,208, while the Nifty50 rose 210 points to settle at 10,092. (Image: Reuters)
4. Crude Oil: Oil prices rose on Thursday as a panel of OPEC and its allies met to review record oil supply cuts, even as the market remained concerned about additional coronavirus cases reported in parts of the United States and China. Brent crude futures were up 78 cents at $41.48 a barrel and West Texas Intermediate crude futures gained 88 cents, or 2.32 percent, to settle at $38.84 per barrel. (Image: Reuters)
4. Crude Oil: Oil prices rose on Thursday as a panel of OPEC and its allies met to review record oil supply cuts, even as the market remained concerned about additional coronavirus cases reported in parts of the United States and China. Brent crude futures were up 78 cents at $41.48 a barrel and West Texas Intermediate crude futures gained 88 cents, or 2.32 percent, to settle at $38.84 per barrel. (Image: Reuters)
5. Rupee Close: The rupee appreciated 7 paise to 76.09 against the US dollar in early trade on Thursday amid weak US dollar and gains in the domestic equity market. Forex traders said rupee was trading in a narrow range as positive domestic equities and weak US currency supported the local unit, while rising coronavirus cases, border tension with China and foreign fund outflows capped the gains. The rupee opened at 76.17 against the US dollar, gained further ground, and touched 76.09 against the US dollar, up 7 paise over its previous close. It had settled at 76.16 against the greenback on Wednesday. (Image: Reuters)
5. Rupee Close: The rupee appreciated 7 paise to 76.09 against the US dollar in early trade on Thursday amid weak US dollar and gains in the domestic equity market. Forex traders said rupee was trading in a narrow range as positive domestic equities and weak US currency supported the local unit, while rising coronavirus cases, border tension with China and foreign fund outflows capped the gains. The rupee opened at 76.17 against the US dollar, gained further ground, and touched 76.09 against the US dollar, up 7 paise over its previous close. It had settled at 76.16 against the greenback on Wednesday. (Image: Reuters)
6. FM Nirmala Sitharaman On Garib Kalyan Rojgar Abhiyaan: Finance Minister Nirmala Sitharaman addressed a press conference and provided details on the Rs 50,000 crore PM Garib Kalyan Rojgar Abhiyaan, which will be launched on June 20 primarily to generate jobs for migrant workers who have returned home. Earlier in the day, Prime Minister Narendra Modi said that the Centre was launching the Garib Kalyan Rojgar Abhiyaan which will help migrant labourers find work in rural areas amid the coronavirus pandemic. (Image: PTI)
6. FM Nirmala Sitharaman On Garib Kalyan Rojgar Abhiyaan: Finance Minister Nirmala Sitharaman addressed a press conference and provided details on the Rs 50,000 crore PM Garib Kalyan Rojgar Abhiyaan, which will be launched on June 20 primarily to generate jobs for migrant workers who have returned home. Earlier in the day, Prime Minister Narendra Modi said that the Centre was launching the Garib Kalyan Rojgar Abhiyaan which will help migrant labourers find work in rural areas amid the coronavirus pandemic. (Image: PTI)
7. North Block Mulling Duty Hikes To Curb Chinese Imports:  Even as diplomatic talks continue between India and China following the brutal face-off at Line of Actual Control (LAC), New Delhi is mulling options to reduce India's dependence on Chinese products.
7. North Block Mulling Duty Hikes To Curb Chinese Imports:  Even as diplomatic talks continue between India and China following the brutal face-off at Line of Actual Control (LAC), New Delhi is mulling options to reduce India's dependence on Chinese products."The Finance and Commerce ministries have already held a series of discussions with line ministry officers on various policy options on Chinese goods and to reduce India's dependence on these goods," highly placed sources told CNBCTV18. Government officials confirmed that multiple meetings have already happened and a few more are lined up before a formal proposal will be put up before the the Finance Minister and the Prime Minister for a final nod. (Image: Reuters)
8. India To Offer 41 Coal Blocks For First Commercial Mining Auction: Prime Minister Narendra Modi launched the first-ever coal auction for commercial mining, ending the monopoly of Coal India in a bid to curb import dependence despite having the fourth-largest reserves in the world. The Ministry of coal will offer 41 coal blocks in the first auction, which will include 37 fully explored blocks, 4 coking coal which is required for the steel sector. India imported 251 million tonnes (MT) of coal in FY20 worth Rs 1,58,685 crore and plans to substitute 135 MT with the opening of the coal sector. (Image: AP)
8. India To Offer 41 Coal Blocks For First Commercial Mining Auction: Prime Minister Narendra Modi launched the first-ever coal auction for commercial mining, ending the monopoly of Coal India in a bid to curb import dependence despite having the fourth-largest reserves in the world. The Ministry of coal will offer 41 coal blocks in the first auction, which will include 37 fully explored blocks, 4 coking coal which is required for the steel sector. India imported 251 million tonnes (MT) of coal in FY20 worth Rs 1,58,685 crore and plans to substitute 135 MT with the opening of the coal sector. (Image: AP)
9. India Inc Earnings Fall 22% In March Quarter: Earnings of India Inc fell by nearly a fourth in January-March as compared to the year-ago period due to legacy problems, Icra said on Thursday, warning of deeper impact in the June quarter due to COVID-19-induced lockdown. Absolute earnings of the corporate India contracted by 22 per cent and 12 per cent in Q4FY20 and FY20, respectively. Further, the impact is expected to be even more pronounced during Q1 FY2021, given the stringent two-month long nationwide lockdown, the rating agency said. (Image for representational purpose)
9. India Inc Earnings Fall 22% In March Quarter: Earnings of India Inc fell by nearly a fourth in January-March as compared to the year-ago period due to legacy problems, Icra said on Thursday, warning of deeper impact in the June quarter due to COVID-19-induced lockdown. Absolute earnings of the corporate India contracted by 22 per cent and 12 per cent in Q4FY20 and FY20, respectively. Further, the impact is expected to be even more pronounced during Q1 FY2021, given the stringent two-month long nationwide lockdown, the rating agency said. (Image for representational purpose)
10. 70% Of Today's Prospective Buyers Won't Buy A Home For 12 Months: Residential  demand in India could pick up in 12 months but only by the slimmest of margins, according to property consultancy Savills India. A recent Savills India research indicates that only about a fifth of prospective buyers or end-users may return to the market in a year, as per consumer sentiments that existed in May 2020.
10. 70% Of Today's Prospective Buyers Won't Buy A Home For 12 Months: Residential  demand in India could pick up in 12 months but only by the slimmest of margins, according to property consultancy Savills India. A recent Savills India research indicates that only about a fifth of prospective buyers or end-users may return to the market in a year, as per consumer sentiments that existed in May 2020. "As expected, a significant 70 percent of end-users do not plan to purchase a home within 12 months," said Savills' Profiling Locked-down Homes Research Report. "Similarly, most investors plan to wait and watch, with almost 94 percent set to take their decisions after 12 months."(File Photo: IANS)
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