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10 things you need to know before the opening bell on June 3

Updated : 2019-06-03 08:33:29

Indian shares are likely to open higher on Monday as prospects of an interest rate cut by the Reserve Bank of India increased after India’s fourth-quarter gross domestic product (GDP) growth rate slowed to a five-year low of 5.8 percent. The eight core sector industries too witnessed a slowdown in April, with growth rate slipping to 2.6 percent. However, fiscal deficit for 2018-19 remained within the revised Budget target of 3.4 percent of the GDP. In global markets, oil prices and Asian shares declined over US-China trade tensions and Donald Trump’s threat to impose tariffs on Mexico. At 7.03 AM, the SGX Nifty futures traded 37.5 points, or 0.31 percent, higher at 11,962.50, indicating a positive start for the BSE Sensex and NSE’s Nifty 50.

1. Asia: MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.05 percent. Asian stocks trade lower amid incrasing concerns over the state of global trade. Japan's Nikkei fell 1.21 percent in early trade with Topix also trading down, by 1.16 percent. On Friday, the Dow Jones Industrial Average fell 354.84 points, or 1.41%, to 24,815.04, the S&P 500 lost 36.8 points, or 1.32%, to 2,752.06 and the Nasdaq Composite dropped 114.57 points, or 1.51%, to 7,453.15. (Image: Reuters)
1. Asia: MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.05 percent. Asian stocks trade lower amid incrasing concerns over the state of global trade. Japan's Nikkei fell 1.21 percent in early trade with Topix also trading down, by 1.16 percent. On Friday, the Dow Jones Industrial Average fell 354.84 points, or 1.41%, to 24,815.04, the S&P 500 lost 36.8 points, or 1.32%, to 2,752.06 and the Nasdaq Composite dropped 114.57 points, or 1.51%, to 7,453.15. (Image: Reuters)
2. Markets At Close On Friday: The Indian market gave up early gains after losses in power, metal and financial stocks. The Sensex settled 117 points lower at 39,714, while the Nifty50 ended lower at 11,922.80, by 23.10 points. Meanwhile, foreign institutional investors (FIIs) bought shares worth Rs 676 crore on a net basis in the cash market, while domestic institutional investors (DIIs) sold shares worth Rs 394 crore. (Image: Reuters)
2. Markets At Close On Friday: The Indian market gave up early gains after losses in power, metal and financial stocks. The Sensex settled 117 points lower at 39,714, while the Nifty50 ended lower at 11,922.80, by 23.10 points. Meanwhile, foreign institutional investors (FIIs) bought shares worth Rs 676 crore on a net basis in the cash market, while domestic institutional investors (DIIs) sold shares worth Rs 394 crore. (Image: Reuters)
3. Crude Oil: Front-month Brent crude futures, the international benchmark for oil prices, were at $60.97 at 0044 GMT. That was $1.02 cents, or 1.7 percent, below last session’s close. US West Texas Intermediate (WTI) crude futures were at $52.71 per barrel, down 79 cents, or 1.5 percent. (Image: Reuters)
3. Crude Oil: Front-month Brent crude futures, the international benchmark for oil prices, were at $60.97 at 0044 GMT. That was $1.02 cents, or 1.7 percent, below last session’s close. US West Texas Intermediate (WTI) crude futures were at $52.71 per barrel, down 79 cents, or 1.5 percent. (Image: Reuters)
4. India's gross domestic product (GDP) growth rate in the January-March quarter of 2018-19 slowed to 5.8 percent, due to poor performance in the agriculture and manufacturing sectors, as per the data released by the government on Friday. (Image: Reuters)
4. India's gross domestic product (GDP) growth rate in the January-March quarter of 2018-19 slowed to 5.8 percent, due to poor performance in the agriculture and manufacturing sectors, as per the data released by the government on Friday. (Image: Reuters)
5. Rupee & Dollar Index: The Indian rupee closed at 69.67, down 0.28 percent against the US dollar from its previous close. While, the dollar index, which tracks the U.S. currency against a basket of six other major currencies, fell 0.40 percent to 97.7500. (Image: Reuters)
5. Rupee & Dollar Index: The Indian rupee closed at 69.67, down 0.28 percent against the US dollar from its previous close. While, the dollar index, which tracks the U.S. currency against a basket of six other major currencies, fell 0.40 percent to 97.7500. (Image: Reuters)
6. Donald Trump Terminates Preferential Trade Status For India: US President Donald Trump has terminated India's designation as a beneficiary developing nation under the key GSP trade programme after determining that it has not assured the US that it will provide
6. Donald Trump Terminates Preferential Trade Status For India: US President Donald Trump has terminated India's designation as a beneficiary developing nation under the key GSP trade programme after determining that it has not assured the US that it will provide "equitable and reasonable access" to its markets. The Generalized System of Preference (GSP) is designed to promote economic development by allowing duty-free entry for thousands of products from designated beneficiary countries. Under the GSP programme, nearly 2,000 products including auto components and textile materials can enter the US duty-free if the beneficiary developing countries meet the eligibility criteria established by Congress. (Image: AP)
7. GST Collections Grew 6.67% In May: GST (Goods and Services Tax) collections grew 6.67 percent to touch Rs 1 lakh crore in May, as compared to Rs 94,016 crore in the year-ago period, the government said Saturday. The gross Goods and Services Tax collections in May at Rs 1,00,289 crore is, however, lower than Rs 1,13,865 crore collected in April, which was the highest ever collection since roll out of the GST from July 1, 2017. This is the third consecutive month in which GST collections have crossed Rs 1 lakh crore mark. In March mop up was Rs 1.06 lakh crore.
7. GST Collections Grew 6.67% In May: GST (Goods and Services Tax) collections grew 6.67 percent to touch Rs 1 lakh crore in May, as compared to Rs 94,016 crore in the year-ago period, the government said Saturday. The gross Goods and Services Tax collections in May at Rs 1,00,289 crore is, however, lower than Rs 1,13,865 crore collected in April, which was the highest ever collection since roll out of the GST from July 1, 2017. This is the third consecutive month in which GST collections have crossed Rs 1 lakh crore mark. In March mop up was Rs 1.06 lakh crore.
8. SFIO Coterie That Defrauded IL&FS:  Launching a massive crackdown on perpetrators of the IL&FS scam, the Serious Fraud Investigation Office (SFIO) has charged the erstwhile top management members of the group's financial services subsidiary IFIN of forming a
8. SFIO Coterie That Defrauded IL&FS:  Launching a massive crackdown on perpetrators of the IL&FS scam, the Serious Fraud Investigation Office (SFIO) has charged the erstwhile top management members of the group's financial services subsidiary IFIN of forming a "coterie" with its auditors and independent directors to defraud the company while running the business as their "personal fiefdom". Officials also said it is just a tip of the iceberg in this massive fraud case, involving defaults totalling an estimated amount of over Rs 90,000 crore, as the SFIO's first chargesheet concerns just one entity, IL&FS Financial Services Ltd (IFIN), and the probe is already underway against the parent firm Infrastructure Leasing and Financial Services Ltd (IL&FS) and several other subsidiaries. (Image: Reuters)
9. SEBI Seeks Pre-deposit On Appeals At SAT: With an aim to check frivolous appeals against its orders with the sole aim of delaying their execution, capital market regulator Sebi is seeking a mandatory deposit of 10 percent of the penalty amount before filing of any appeal before the appellate tribunal. Sebi has sought an amendment to the Sebi Act to provide for a
9. SEBI Seeks Pre-deposit On Appeals At SAT: With an aim to check frivolous appeals against its orders with the sole aim of delaying their execution, capital market regulator Sebi is seeking a mandatory deposit of 10 percent of the penalty amount before filing of any appeal before the appellate tribunal. Sebi has sought an amendment to the Sebi Act to provide for a "pre-deposit" by any entity seeking to challenge its order relating to a monetary penalty or orders relating to refund, recovery, disgorgement and compounding, officials said. The regulator is of the view that many a times provision to file an appeal before the Securities Appellate Tribunal (SAT) is used as a device to delay the execution of the Sebi order. (Image: Reuters)
10. FPIs Infuse Over Rs 9,000 crore In May: Overseas investors pumped in a net amount of Rs 9,031 crore into the Indian capital markets in May on expectations of more business-friendly measures following the BJP's landslide victory in the general elections.<br />According to the latest depositories data, foreign portfolio investors (FPIs) infused a net sum of Rs 7,919.73 crore into equities and Rs 1,111.42 crore in the debt market during May 2-31, taking the cumulative net investment to Rs 9,031.15 crore. Prior to this, they had invested a net Rs 16,093 crore in April, Rs 45,981 crore in March and Rs 11,182 crore in February in the capital markets (both equity and debt). (Image: Reuters)
10. FPIs Infuse Over Rs 9,000 crore In May: Overseas investors pumped in a net amount of Rs 9,031 crore into the Indian capital markets in May on expectations of more business-friendly measures following the BJP's landslide victory in the general elections.
According to the latest depositories data, foreign portfolio investors (FPIs) infused a net sum of Rs 7,919.73 crore into equities and Rs 1,111.42 crore in the debt market during May 2-31, taking the cumulative net investment to Rs 9,031.15 crore. Prior to this, they had invested a net Rs 16,093 crore in April, Rs 45,981 crore in March and Rs 11,182 crore in February in the capital markets (both equity and debt). (Image: Reuters)
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