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10 things you need to know before the opening bell on June 24

Updated : 2019-06-24 07:38:30

Indian shares are likely to open little changed on Monday following muted trades in global markets and a spike in oil prices. Asian shares traded cautious as investors await US-China trade negotiations ahead of G20 meeting this weekend. At 7.00 AM, the SGX Nifty futures traded at 1.50 points, or 0.01 percent, higher at 11,755.50, indicating a flat start for the Sensex and the Nifty 50.

1. Global Markets: Asian shares were off to a cautious start on Monday as investors pinned their hopes on any signs of a thaw in Sino-US trade negotiations while oil prices firmed on worries over heightened tensions between the United States and Iran. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.16 percent in early trade while Japan’s Nikkei ticked down 0.26 percent. Meanwhile, in the US, the S&P 500 fell slightly on Friday after reaching a fresh record high earlier in the day as Wall Street concluded a strong week of gains. The Dow closed 34.04 points lower at 26,719.13 while the Nasdaq lost 0.2 percent to end the day at 8,031.71. (Image: Reuters)
1. Global Markets: Asian shares were off to a cautious start on Monday as investors pinned their hopes on any signs of a thaw in Sino-US trade negotiations while oil prices firmed on worries over heightened tensions between the United States and Iran. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.16 percent in early trade while Japan’s Nikkei ticked down 0.26 percent. Meanwhile, in the US, the S&P 500 fell slightly on Friday after reaching a fresh record high earlier in the day as Wall Street concluded a strong week of gains. The Dow closed 34.04 points lower at 26,719.13 while the Nasdaq lost 0.2 percent to end the day at 8,031.71. (Image: Reuters)
2.Market At Close On Friday: Markets ended lower dragged by auto, banking and pharma stocks, as global sentiment remained negative. The Sensex ended 407 points lower at 39,194, while the broader Nifty50 index lost 108 points to end at 11,724. Broader markets outperformed benchmark indices with the Nifty Midcap and the Nifty Smallcap indices don 0.1 percent and 0.2 percent, respectively. Meanwhile, foreign institutional investors (FIIs) sold shares worth Rs 731 crore on a net basis in the cash market, while domestic institutional investors (DIIs) bought shares worth Rs 446 crore. Image: Reuters)
2.Market At Close On Friday: Markets ended lower dragged by auto, banking and pharma stocks, as global sentiment remained negative. The Sensex ended 407 points lower at 39,194, while the broader Nifty50 index lost 108 points to end at 11,724. Broader markets outperformed benchmark indices with the Nifty Midcap and the Nifty Smallcap indices don 0.1 percent and 0.2 percent, respectively. Meanwhile, foreign institutional investors (FIIs) sold shares worth Rs 731 crore on a net basis in the cash market, while domestic institutional investors (DIIs) bought shares worth Rs 446 crore. Image: Reuters)
3. Crude Oil: Oil prices climbed on Monday as tensions remain high between Iran and the United States, with US Secretary of State Mike Pompeo saying “significant” sanctions on Tehran would be announced. Brent futures were up 37 cents, or 0.6 percent, at $65.57 a barrel by 0044 GMT. West Texas Intermediate crude was up 43 cents, or 0.8 percent, at $57.86 a barrel. (Image: Reuters)
3. Crude Oil: Oil prices climbed on Monday as tensions remain high between Iran and the United States, with US Secretary of State Mike Pompeo saying “significant” sanctions on Tehran would be announced. Brent futures were up 37 cents, or 0.6 percent, at $65.57 a barrel by 0044 GMT. West Texas Intermediate crude was up 43 cents, or 0.8 percent, at $57.86 a barrel. (Image: Reuters)
4. Currency: The rupee closed at Rs 69.55 against the US dollar, 0.16 percent lower on Friday. The dollar index, which measures the U.S. currency against six of its peers, was at 96.117 after slipping from levels above 97.5 last week. (Image: Reuters)
4. Currency: The rupee closed at Rs 69.55 against the US dollar, 0.16 percent lower on Friday. The dollar index, which measures the U.S. currency against six of its peers, was at 96.117 after slipping from levels above 97.5 last week. (Image: Reuters)
5. GST: The Goods and Services Tax Council on Friday has decided to use Aadhaar by businesses for registration under GST-Network. The Council's meeting, chaired by finance minister Nirmala Sitharaman, also approved imposing a penalty of up to 10 percent of the profiteered amount on entities for not passing on benefits of GST rate cuts to consumers, as against the current norm of levying a maximum fine of Rs 25,000. (stock image)
5. GST: The Goods and Services Tax Council on Friday has decided to use Aadhaar by businesses for registration under GST-Network. The Council's meeting, chaired by finance minister Nirmala Sitharaman, also approved imposing a penalty of up to 10 percent of the profiteered amount on entities for not passing on benefits of GST rate cuts to consumers, as against the current norm of levying a maximum fine of Rs 25,000. (stock image)
6. Government On PSU General Insurers: The government is exploring various consolidation options including the merger of state-owned general insurance companies with New India Assurance with a view to create synergy and unlock value. The Department of Investment and Public Asset Management (DIPAM) under the Ministry of Finance is also looking at other options including stake sale in three state-owned insurance firms like National Insurance Company, Oriental Insurance Company and United India Insurance Company, sources said. (Image: Reuters)
6. Government On PSU General Insurers: The government is exploring various consolidation options including the merger of state-owned general insurance companies with New India Assurance with a view to create synergy and unlock value. The Department of Investment and Public Asset Management (DIPAM) under the Ministry of Finance is also looking at other options including stake sale in three state-owned insurance firms like National Insurance Company, Oriental Insurance Company and United India Insurance Company, sources said. (Image: Reuters)
7. Niti Aayog: Think tank Niti Aayog on Sunday said that expert panel for macroeconomics and employment came out with suggestions to achieve $5 trillion economy target during an interaction with Prime Minister Narendra Modi. Modi on Saturday had an interaction with economists and industry experts on India's current economic situation. During the interactive session, ahead of the presentation of the Union Budget next month, all participants made a case for
7. Niti Aayog: Think tank Niti Aayog on Sunday said that expert panel for macroeconomics and employment came out with suggestions to achieve $5 trillion economy target during an interaction with Prime Minister Narendra Modi. Modi on Saturday had an interaction with economists and industry experts on India's current economic situation. During the interactive session, ahead of the presentation of the Union Budget next month, all participants made a case for "single minded pursuit" to achieve growth, according to sources. (Image: PTI)
8. Government's Liabilities: Government's total liabilities reached Rs 84.68 lakh crore at the end of March 2019, up 1.5 per cent over the preceding quarter, a report released by the Finance Ministry said on Friday. The total liabilities stood at Rs 83.40 lakh crore crore at end-December 2018. Public debt accounted for 89.5 per cent of the total outstanding liabilities at end-March 2019. Nearly 28.27 per cent of the outstanding dated securities had a residual maturity of less than 5 years. (Image: Reuters)
8. Government's Liabilities: Government's total liabilities reached Rs 84.68 lakh crore at the end of March 2019, up 1.5 per cent over the preceding quarter, a report released by the Finance Ministry said on Friday. The total liabilities stood at Rs 83.40 lakh crore crore at end-December 2018. Public debt accounted for 89.5 per cent of the total outstanding liabilities at end-March 2019. Nearly 28.27 per cent of the outstanding dated securities had a residual maturity of less than 5 years. (Image: Reuters)
9. Foreign Investors Inflow:  Overseas investors have infused a net sum of Rs 10,312 crore in the domestic capital markets this month so far, with debt segment accounting for the lion's share. Equity investments have slowed down on account of rising geopolitical tensions in the Middle East as well as US-India trade conflict, experts said. As per the latest depositories data, foreign portfolio investors (FPIs) pumped in a net amount of Rs 552.07 crore into equities and Rs 9,760.59 crore into the debt market during Jun 3-21, taking the cumulative net investment to Rs 10,312.66 crore. (Image: AP)
9. Foreign Investors Inflow:  Overseas investors have infused a net sum of Rs 10,312 crore in the domestic capital markets this month so far, with debt segment accounting for the lion's share. Equity investments have slowed down on account of rising geopolitical tensions in the Middle East as well as US-India trade conflict, experts said. As per the latest depositories data, foreign portfolio investors (FPIs) pumped in a net amount of Rs 552.07 crore into equities and Rs 9,760.59 crore into the debt market during Jun 3-21, taking the cumulative net investment to Rs 10,312.66 crore. (Image: AP)
10. Market Capitalisation Drop Last Week: Six of the 10 most valued domestic companies suffered a combined erosion of Rs 53,458.8 crore in market valuation last week, with Reliance Industries Ltd (RIL) taking the steepest hit. Tata Consultancy Services (TCS), HDFC Bank, HUL, HDFC and ITC were the other blue-chips that witnessed a drop in their market capitalisation (m-cap) for the week ended on Friday, while Infosys, SBI, Kotak Mahindra Bank and ICICI Bank finished with gains. RIL's valuation plummeted Rs 23,929.9 crore to Rs 8,10,889.80 crore. (Image: Reuters)
10. Market Capitalisation Drop Last Week: Six of the 10 most valued domestic companies suffered a combined erosion of Rs 53,458.8 crore in market valuation last week, with Reliance Industries Ltd (RIL) taking the steepest hit. Tata Consultancy Services (TCS), HDFC Bank, HUL, HDFC and ITC were the other blue-chips that witnessed a drop in their market capitalisation (m-cap) for the week ended on Friday, while Infosys, SBI, Kotak Mahindra Bank and ICICI Bank finished with gains. RIL's valuation plummeted Rs 23,929.9 crore to Rs 8,10,889.80 crore. (Image: Reuters)
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