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10 things you need to know before the opening bell on November 13

Updated : 2020-11-13 07:20:22

The Indian market is likely to open lower Friday following losses in global markets as the COVID-19 cases continue to surge in the US. At 7:00 am, the SGX Nifty was trading 112.50 points or 0.88 percent lower at 12,634.50, indicating a negative start for the Sensex and Nifty50.

1. Asia: Stocks in Asia-Pacific declined in Friday morning trade as coronavirus cases continue to surge in the U.S., dimming optimism from positive vaccine news earlier in the week. In Japan, the Nikkei 225 shed 0.43 percent while the Topix index fell 0.7 percent. South Korea’s Kospi dipped 0.28 percent. Meanwhile, shares in Australia dipped, with the S&P/ASX 200 down 0.2 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.1 percent lower, reported CNBC International. (Image: Reuters)
1. Asia: Stocks in Asia-Pacific declined in Friday morning trade as coronavirus cases continue to surge in the U.S., dimming optimism from positive vaccine news earlier in the week. In Japan, the Nikkei 225 shed 0.43 percent while the Topix index fell 0.7 percent. South Korea’s Kospi dipped 0.28 percent. Meanwhile, shares in Australia dipped, with the S&P/ASX 200 down 0.2 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.1 percent lower, reported CNBC International. (Image: Reuters)
2. US: U.S. stock futures were flat on Thursday night as Wall Street continues to grapple with the rising number of coronavirus cases and its potential economic impact. Dow Jones Industrial Average futures traded 32 points higher, or 0.1 percent. S&P 500 futures fell marginally and Nasdaq 100 futures traded 0.1 percent higher, reported CNBC International. (Image: AP)
2. US: U.S. stock futures were flat on Thursday night as Wall Street continues to grapple with the rising number of coronavirus cases and its potential economic impact. Dow Jones Industrial Average futures traded 32 points higher, or 0.1 percent. S&P 500 futures fell marginally and Nasdaq 100 futures traded 0.1 percent higher, reported CNBC International. (Image: AP)
3. Market At Close On Thursday: Indian indices ended lower on Thursday, snapping 8 sessions of gains after a slew of announcements by the union finance minister Nirmala Sitharaman to boost the economy failed to impress the Street. Losses in the benchmarks were led by banks and financials. The Sensex ended 236 points lower at 43,357 while the Nifty lost 58 points to settle at 12,691. Broader markets, however, outperformed, the benchmarks with the Nifty Midcap and the Nifty Smallcap indices up 0.5 percent and 1.3 percent, respectively. The Nifty Bank and the Nifty Fin Services sectors fell 1-2 percent during the day while the Nifty Metal index also lost 0.5 percent. However, the Nifty FMCG jumped 1.5 percent and the IT, auto, and pharma indices were also positive for the day.(Image: Reuters)
3. Market At Close On Thursday: Indian indices ended lower on Thursday, snapping 8 sessions of gains after a slew of announcements by the union finance minister Nirmala Sitharaman to boost the economy failed to impress the Street. Losses in the benchmarks were led by banks and financials. The Sensex ended 236 points lower at 43,357 while the Nifty lost 58 points to settle at 12,691. Broader markets, however, outperformed, the benchmarks with the Nifty Midcap and the Nifty Smallcap indices up 0.5 percent and 1.3 percent, respectively. The Nifty Bank and the Nifty Fin Services sectors fell 1-2 percent during the day while the Nifty Metal index also lost 0.5 percent. However, the Nifty FMCG jumped 1.5 percent and the IT, auto, and pharma indices were also positive for the day.(Image: Reuters)
4. Crude Oil: Oil prices fell on Thursday, weighed down by the surge in coronavirus cases that is hampering the global economy, along with an unexpected rise in U.S. crude stockpiles. Brent crude fell 27 cents to settle at $43.53 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 33 cents to settle at $41.12 a barrel, reported CNBC International. (Image: Reuters)
4. Crude Oil: Oil prices fell on Thursday, weighed down by the surge in coronavirus cases that is hampering the global economy, along with an unexpected rise in U.S. crude stockpiles. Brent crude fell 27 cents to settle at $43.53 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 33 cents to settle at $41.12 a barrel, reported CNBC International. (Image: Reuters)
5. Rupee Close: The Indian currency slumped by 28 paise to close at 74.64 (provisional) against the US dollar on Thursday, as weak domestic equities influenced investor sentiments. At the interbank foreign exchange market, the local unit opened at 74.44 against the greenback and finally closed at 74.64, down 28 paise over its last close, reported PTI. (Image: Reuters)
5. Rupee Close: The Indian currency slumped by 28 paise to close at 74.64 (provisional) against the US dollar on Thursday, as weak domestic equities influenced investor sentiments. At the interbank foreign exchange market, the local unit opened at 74.44 against the greenback and finally closed at 74.64, down 28 paise over its last close, reported PTI. (Image: Reuters)
6. India's Retail Inflation Inches Up: India's retail inflation as measured by the Consumer Price Index (CPI) recorded 7.61 percent in the month of October on the back of a further rise for food prices, showed data released by the National Statistics Office (NSO) on Thursday. It was 4.62 percent in October 2019. The rise in general inflation was mainly on account of elevated food prices. As per the data, the Consumer Food Price Index (CFPI) rose to 11.07 percent in October, up from 10.68 percent in the previous month of September. The Consumer Food Price Index (CFPI), according to the data, rose to 11.07 percent in October from 10.68 percent in the previous month of September. It was 4.62 percent in October 2019. (Image: Reuters)
6. India's Retail Inflation Inches Up: India's retail inflation as measured by the Consumer Price Index (CPI) recorded 7.61 percent in the month of October on the back of a further rise for food prices, showed data released by the National Statistics Office (NSO) on Thursday. It was 4.62 percent in October 2019. The rise in general inflation was mainly on account of elevated food prices. As per the data, the Consumer Food Price Index (CFPI) rose to 11.07 percent in October, up from 10.68 percent in the previous month of September. The Consumer Food Price Index (CFPI), according to the data, rose to 11.07 percent in October from 10.68 percent in the previous month of September. It was 4.62 percent in October 2019. (Image: Reuters)
7. Finance Ministry On MEIS Dues: The union finance ministry on Thursday has approved allocation for a key export sop, which were held up earlier this year amidst a dip in revenue collection. Sources told CNBC-TV18 that North Block has approved allocation worth Rs 39,097 crore for Merchandise Exports from India Scheme (MEIS) benefits for exports undertaken in FY20 and Rs 15,555 crore for exports between April and December 2020. Sources added that for exports between April and August 2020, MEIS allocation will be Rs 10,555 crore while for September and December, it will be Rs 5,000 crore. As per government guidelines, the maximum amount for MEIS benefits for exports between September and December 2020 will be Rs 2 crore per exporter. (File Photo: IANS)
7. Finance Ministry On MEIS Dues: The union finance ministry on Thursday has approved allocation for a key export sop, which were held up earlier this year amidst a dip in revenue collection. Sources told CNBC-TV18 that North Block has approved allocation worth Rs 39,097 crore for Merchandise Exports from India Scheme (MEIS) benefits for exports undertaken in FY20 and Rs 15,555 crore for exports between April and December 2020. Sources added that for exports between April and August 2020, MEIS allocation will be Rs 10,555 crore while for September and December, it will be Rs 5,000 crore. As per government guidelines, the maximum amount for MEIS benefits for exports between September and December 2020 will be Rs 2 crore per exporter. (File Photo: IANS)
8. FM On Govt Tenders:  Finance Minister Nirmala Sitharaman on Thursday announcing support for construction and infrastructure, she said Earnest Money Deposit (EMO) and performance security requirements will be relaxed for government tenders. Performance security on contracts will be reduced to 3 percent instead of 5 to 10 percent. This would be extended to ongoing contracts which are free of disputes. It would also be extended to public sector enterprises, she said, adding states will also be encouraged to adopt the same. Earnest money deposit (EMD) will not be required for tenders and will be replaced by bid security declaration. These relaxations will be given till December 31, 2021, she said, adding the move would give relief to contractors by reducing locking up of capital and cost of bank guarantees. (Image: PTI)
8. FM On Govt Tenders:  Finance Minister Nirmala Sitharaman on Thursday announcing support for construction and infrastructure, she said Earnest Money Deposit (EMO) and performance security requirements will be relaxed for government tenders. Performance security on contracts will be reduced to 3 percent instead of 5 to 10 percent. This would be extended to ongoing contracts which are free of disputes. It would also be extended to public sector enterprises, she said, adding states will also be encouraged to adopt the same. Earnest money deposit (EMD) will not be required for tenders and will be replaced by bid security declaration. These relaxations will be given till December 31, 2021, she said, adding the move would give relief to contractors by reducing locking up of capital and cost of bank guarantees. (Image: PTI)
9. India On Imports Of Clear Float Glass: India has imposed anti-dumping duty on clear float glass, used in automobiles and refrigeration industries, from Malaysia for five years with an aim to guard domestic industry from cheap imports. The duty was imposed after a recommendation was made by the commerce ministry's investigation arm Directorate General of Trade Remedies (DGTR).
9. India On Imports Of Clear Float Glass: India has imposed anti-dumping duty on clear float glass, used in automobiles and refrigeration industries, from Malaysia for five years with an aim to guard domestic industry from cheap imports. The duty was imposed after a recommendation was made by the commerce ministry's investigation arm Directorate General of Trade Remedies (DGTR). "The anti-dumping duty imposed under this notification shall be effective for a period of five years (unless revoked, superseded or amended earlier)...and shall be paid in Indian currency," the department of revenue has said in a notification. While DGTR recommends the duty, the finance ministry takes the final call to impose the same. The duty imposed is in the range of USD 273 per tonne to USD 326 per tonne. The glass has major uses in construction, refrigeration, mirror and automobile industries. It is a superior quality of glass.
10. Google's New App Could Lock Phones On Repayment Default: A large number of smartphone users upgrade to or purchase the latest device that usually comes at a higher price. Original Equipment Manufacturers (OEMs) often tie-up with credit card companies and banks to allow users long-term payment options that make buying a premium smartphone easy on the pockets of consumers. Now, internet giant Google has reportedly come up with an app that will allow banks or credit card companies to block certain functions of the phone in case of a default. The app is called Device Lock Controller and is listed on the Play Store under the Google LLC label. Reports suggest that the app can allow banks or credit card companies to lock a device or shut certain functions if a user misses out on paying an installment. (stock image)
10. Google's New App Could Lock Phones On Repayment Default: A large number of smartphone users upgrade to or purchase the latest device that usually comes at a higher price. Original Equipment Manufacturers (OEMs) often tie-up with credit card companies and banks to allow users long-term payment options that make buying a premium smartphone easy on the pockets of consumers. Now, internet giant Google has reportedly come up with an app that will allow banks or credit card companies to block certain functions of the phone in case of a default. The app is called Device Lock Controller and is listed on the Play Store under the Google LLC label. Reports suggest that the app can allow banks or credit card companies to lock a device or shut certain functions if a user misses out on paying an installment. (stock image)
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