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10 things you need to know before the opening bell on May 29

Updated : 2019-05-29 08:25:57

Indian benchmark indices are likely to open lower on Wednesday following losses in global markets. Asian shares fell over concerns of trade tensions between the US and China. US President Donald Trump said on Monday that the US was not ready to make a deal with China yet, and also pressed Japan to reduce its trade imbalance with the US. Investors in India were also cautious ahead of F&O expiry and key economic data due this week. Indian shares settled marginally higher in the previous session, extending gains for the third straight day. At 7.10 AM, the SGX Nifty traded 19 points, or 0.16 percent, lower at 11,910, pointing to a muted start for the Sensex and the Nifty 50.

1. Asia: MSCI Asia Pacific index was up 0.25 percent in the morning. The Nikkei in Japan dropped 1.35 percent and the Topix also declined 1.36 percent. In South Korea, the Kospi fell 0.74 percent. (Image: Reuters)
1. Asia: MSCI Asia Pacific index was up 0.25 percent in the morning. The Nikkei in Japan dropped 1.35 percent and the Topix also declined 1.36 percent. In South Korea, the Kospi fell 0.74 percent. (Image: Reuters)
2. US: Markets in the US closed lower with initial gains giving way to declines as the likelihood of a prolonged trade war between the United States and China once again kept risk appetite in check. The Dow Jones Industrial Average fell 237.32 points, or 0.93 percent, to 25,348.37, the S&P 500 lost 23.91 points, or 0.85 percent, to 2,802.15 and the Nasdaq Composite dropped 29.66 points, or 0.39 percent, to 7,607.35. (Image: Reuters)
2. US: Markets in the US closed lower with initial gains giving way to declines as the likelihood of a prolonged trade war between the United States and China once again kept risk appetite in check. The Dow Jones Industrial Average fell 237.32 points, or 0.93 percent, to 25,348.37, the S&P 500 lost 23.91 points, or 0.85 percent, to 2,802.15 and the Nasdaq Composite dropped 29.66 points, or 0.39 percent, to 7,607.35. (Image: Reuters)
3. Markets At Close On Tuesday: The Indian market trimmed losses towards the end of the trading session on Tuesday to settle marginally higher. Index heavyweights like Infosys, Reliance Industries, TCS, and HDFC Bank contributed to the gains. The Sensex settled 66 points higher at 39,750, while the Nifty50 added 16 points to end at 11,941. (Image: Reuters)
3. Markets At Close On Tuesday: The Indian market trimmed losses towards the end of the trading session on Tuesday to settle marginally higher. Index heavyweights like Infosys, Reliance Industries, TCS, and HDFC Bank contributed to the gains. The Sensex settled 66 points higher at 39,750, while the Nifty50 added 16 points to end at 11,941. (Image: Reuters)
4. Crude Oil: Front-month Brent crude futures, the international benchmark for oil prices, were at $69.85 at 0101 GMT. That was 26 cents, or 0.4 percent, below the last session’s close. U.S. West Texas Intermediate (WTI) crude futures were at $58.70 per barrel, down 44 cents, or 0.7 percent, from their last settlement. (Image: Reuters)
4. Crude Oil: Front-month Brent crude futures, the international benchmark for oil prices, were at $69.85 at 0101 GMT. That was 26 cents, or 0.4 percent, below the last session’s close. U.S. West Texas Intermediate (WTI) crude futures were at $58.70 per barrel, down 44 cents, or 0.7 percent, from their last settlement. (Image: Reuters)
5. Rupee & Dollar Index: The Indian rupee closed at 69.69, up 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, rose 0.17 percent to 97.782. (Image: Reuters)
5. Rupee & Dollar Index: The Indian rupee closed at 69.69, up 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, rose 0.17 percent to 97.782. (Image: Reuters)
6. FII & DII: Foreign institutional investors (FIIs) sold shares worth Rs 501 crore on a net basis in the cash market, while domestic institutional investors (DIIs) bought shares worth Rs 269 crore. (Image: Reuters)
6. FII & DII: Foreign institutional investors (FIIs) sold shares worth Rs 501 crore on a net basis in the cash market, while domestic institutional investors (DIIs) bought shares worth Rs 269 crore. (Image: Reuters)
7. SEBI On New Regulations For Financial Institutions: Market watchdog Sebi proposed a regulatory sandbox for financial institutions wherein exemptions could be provided from various regulations for developing new products and services. By participating in the sandbox regime, the companies will get an opportunity to test their solutions on real customers/investors. On the other hand, it may help Sebi to frame policies that may reduce the time and cost of deploying new investor-centric solutions in the capital market. (Image: Reuters)
7. SEBI On New Regulations For Financial Institutions: Market watchdog Sebi proposed a regulatory sandbox for financial institutions wherein exemptions could be provided from various regulations for developing new products and services. By participating in the sandbox regime, the companies will get an opportunity to test their solutions on real customers/investors. On the other hand, it may help Sebi to frame policies that may reduce the time and cost of deploying new investor-centric solutions in the capital market. (Image: Reuters)
8. Government To Add New System Under GST: After the successful implementation of the e-way bill system, the finance ministry is looking to implement an electronic invoice mechanism or e-invoicing for the Goods and Services Tax (GST) portal for its customers, reported <em>The Economic Times</em> quoting sources<em>. In the initial phase, the service will only be available to large companies which will register every transaction on the GST network, the daily said. E-invoicing, which will be implemented to curb tax evasion, will allow the government to capture transactions on a real-time basis, the report said, adding that, for companies, it will make compliance, as well as, getting their tax credits, easier. (stock image)</em>
8. Government To Add New System Under GST: After the successful implementation of the e-way bill system, the finance ministry is looking to implement an electronic invoice mechanism or e-invoicing for the Goods and Services Tax (GST) portal for its customers, reported The Economic Times quoting sources. In the initial phase, the service will only be available to large companies which will register every transaction on the GST network, the daily said. E-invoicing, which will be implemented to curb tax evasion, will allow the government to capture transactions on a real-time basis, the report said, adding that, for companies, it will make compliance, as well as, getting their tax credits, easier. (stock image)
9. NSIC Eyes Increase In Revenue In FY20: The National Small Industries Corporation on Tuesday said it is eyeing a 22 percent increase in revenue to Rs 3,100 crore in 2019-20 from Rs 2,540 crore in 2018-19. It signed a MoU (Memorandum of Understanding) with the Micro, Small and Medium Enterprises (MSME) Ministry for 2019-20 in the presence of National Small Industries Corporation (NSIC) CMD Ram Mohan Mishra and MSME Secretary Arun Kumar Panda. (Image: Reuters)
9. NSIC Eyes Increase In Revenue In FY20: The National Small Industries Corporation on Tuesday said it is eyeing a 22 percent increase in revenue to Rs 3,100 crore in 2019-20 from Rs 2,540 crore in 2018-19. It signed a MoU (Memorandum of Understanding) with the Micro, Small and Medium Enterprises (MSME) Ministry for 2019-20 in the presence of National Small Industries Corporation (NSIC) CMD Ram Mohan Mishra and MSME Secretary Arun Kumar Panda. (Image: Reuters)
10. NSE Chief Over Post Poll Euphoria: Investors are pinning hope on reforms and GDP expansion from the new government and would look to growth numbers once the post-election euphoria dies down, National Stock Exchange's head Vikram Limaye said on Tuesday. The comments come amid expectations of economic growth slipping to around 6 percent in the last quarter of FY2018-19, which is much below the aspirational 9-10 percent level. He said, for now, the markets are very positive of the election outcome as investors feel continuity to be positive. (stock image)
10. NSE Chief Over Post Poll Euphoria: Investors are pinning hope on reforms and GDP expansion from the new government and would look to growth numbers once the post-election euphoria dies down, National Stock Exchange's head Vikram Limaye said on Tuesday. The comments come amid expectations of economic growth slipping to around 6 percent in the last quarter of FY2018-19, which is much below the aspirational 9-10 percent level. He said, for now, the markets are very positive of the election outcome as investors feel continuity to be positive. (stock image)
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