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10 things you need to know before the opening bell on October 30

Updated : 2020-10-30 07:48:51

The Indian stock market is expected to open flat on Friday as Asian peers traded mixed. At 7:30 am, the SGX Nifty traded 13 points lower at 11,653, indicating a flat start for the Sensex and the Nifty50.

1. Asia: Stocks in Asia-Pacific traded mixed on Friday morning following an overnight bounce on Wall Street on the back of better-than-expected U.S. economic data. In Japan, the Nikkei 225 slipped 0.36 percent while the Topix index shed 0.73 percent . South Korea’s Kospi also dipped 0.41 percent . Meanwhile, shares in Australia advanced, with the S&P/ASX 200 up 0.3 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan traded little changed, reported CNBC International. (Image: Reuters)
1. Asia: Stocks in Asia-Pacific traded mixed on Friday morning following an overnight bounce on Wall Street on the back of better-than-expected U.S. economic data. In Japan, the Nikkei 225 slipped 0.36 percent while the Topix index shed 0.73 percent . South Korea’s Kospi also dipped 0.41 percent . Meanwhile, shares in Australia advanced, with the S&P/ASX 200 up 0.3 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan traded little changed, reported CNBC International. (Image: Reuters)
2. US: U.S. stock futures fell in overnight trading Thursday after some of the technology heavyweights came under pressure following their quarterly reports. Futures on the Dow Jones Industrial Average dropped 205 points. S&P 500 futures and Nasdaq-100 also traded in negative territory. Shares of Apple fell more than 4 percent in extended trading after the tech giant reported a 16% decline in iPhone sales and failed to offer investors any guidance for the quarter ahead, reported CNBC International. (Image: AP)
2. US: U.S. stock futures fell in overnight trading Thursday after some of the technology heavyweights came under pressure following their quarterly reports. Futures on the Dow Jones Industrial Average dropped 205 points. S&P 500 futures and Nasdaq-100 also traded in negative territory. Shares of Apple fell more than 4 percent in extended trading after the tech giant reported a 16% decline in iPhone sales and failed to offer investors any guidance for the quarter ahead, reported CNBC International. (Image: AP)
3. Closing Bell On Thursday: The Indian stock market ended lower for the day but gained in the October expiry series. The Sensex ended 173 points lower at 39,749.85 while the Nifty50 index ended at 11,670.80, down 59 points. Asian Paints, UltraTech Cement, Shree Cements, HCL Tech, and Kotak Mahindra Bank were among major gainers on the Nifty, while losers were L&T, Titan Company, ONGC, Adani Ports, and Tata Motors. Except for IT and energy, all other sectoral indices ended lower led by FMCG, pharma, metal, and auto. BSE Smallcap index shed 0.5 percent. (Image: Reuters)
3. Closing Bell On Thursday: The Indian stock market ended lower for the day but gained in the October expiry series. The Sensex ended 173 points lower at 39,749.85 while the Nifty50 index ended at 11,670.80, down 59 points. Asian Paints, UltraTech Cement, Shree Cements, HCL Tech, and Kotak Mahindra Bank were among major gainers on the Nifty, while losers were L&T, Titan Company, ONGC, Adani Ports, and Tata Motors. Except for IT and energy, all other sectoral indices ended lower led by FMCG, pharma, metal, and auto. BSE Smallcap index shed 0.5 percent. (Image: Reuters)
4. Crude Oil: Oil prices fell more than 3 percent on Thursday, extending the previous day’s sharp decline on the potential impact renewed coronavirus lockdowns will have on oil demand. Brent crude settled 3.76 percent lower at $37.65 per barrel. U.S. West Texas Intermediate (WTI) crude futures fell 3.26 percent to settle at $36.17 per barrel. Both contracts plunged by more than 5 percent on Wednesday, reported CNBC International. (Image: Reuters)
4. Crude Oil: Oil prices fell more than 3 percent on Thursday, extending the previous day’s sharp decline on the potential impact renewed coronavirus lockdowns will have on oil demand. Brent crude settled 3.76 percent lower at $37.65 per barrel. U.S. West Texas Intermediate (WTI) crude futures fell 3.26 percent to settle at $36.17 per barrel. Both contracts plunged by more than 5 percent on Wednesday, reported CNBC International. (Image: Reuters)
5. Rupee Close: The Indian currency settled lower on Thursday amidst volatility in the equity markets. The rupee ended 23 paise lower to 74.10 against the US dollar as compared to the previous close of 73.87. (Image: Reuters)
5. Rupee Close: The Indian currency settled lower on Thursday amidst volatility in the equity markets. The rupee ended 23 paise lower to 74.10 against the US dollar as compared to the previous close of 73.87. (Image: Reuters)
6. RBI Governor On Preventive Vigilance Framework: Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday underlined the need for strengthening the preventive vigilance framework to increase efficiency, stressing that it was also critical for ensuring good governance. He was speaking at a panel discussion organized by the central bank as part of the 'Vigilance Awareness Week 2020'. In his opening address, the governor
6. RBI Governor On Preventive Vigilance Framework: Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday underlined the need for strengthening the preventive vigilance framework to increase efficiency, stressing that it was also critical for ensuring good governance. He was speaking at a panel discussion organized by the central bank as part of the 'Vigilance Awareness Week 2020'. In his opening address, the governor "highlighted the critical role of vigilance in ensuring good governance standards in the financial sector and the need to strengthen preventive vigilance framework to increase efficiency," the RBI said in a statement. (Image: AP)
7. Crop, Tractor Loans Not Part Of Ex-Gratia Relief Plan: Agriculture and allied activity loans are not eligible for the interest on interest waiver announced by the government last week, the finance ministry clarified on Thursday. Issuing additional FAQs on the 'scheme for grant of ex gratia payment of the difference between compound interest and simple interest', it said credit card dues outstanding as of February 29 would be considered for giving relief to the borrowers. The benchmark rate applicable for such relief would be the contract rate, which is used by the credit card issuers for the purpose of EMI loans, it added. Crop and tractor loans come under agriculture and allied activities loans and are not part of the eight segments or classes eligible under the scheme, it added. (Image: PTI)
7. Crop, Tractor Loans Not Part Of Ex-Gratia Relief Plan: Agriculture and allied activity loans are not eligible for the interest on interest waiver announced by the government last week, the finance ministry clarified on Thursday. Issuing additional FAQs on the 'scheme for grant of ex gratia payment of the difference between compound interest and simple interest', it said credit card dues outstanding as of February 29 would be considered for giving relief to the borrowers. The benchmark rate applicable for such relief would be the contract rate, which is used by the credit card issuers for the purpose of EMI loans, it added. Crop and tractor loans come under agriculture and allied activities loans and are not part of the eight segments or classes eligible under the scheme, it added. (Image: PTI)
8. Govt On Air India Divestment: The Narendra Modi government on Thursday said it's unrealistic to expect Air India divestment to be completed by end of the fiscal after the Centre extended the deadline for the submission of preliminary bids for the state-owned airline to December 14. In an interview with CNBC-TV18, Tuhin Kanta Pandey, department of investment and public asset management (DIPAM) secretary, said the government has also allowed bidders to quote the enterprise value instead of a pre-fixed debt level to make the process more attractive. However, it's unrealistic to expect the divestment to be completed by end of fiscal, added Pandey. (Image: Reuters)
8. Govt On Air India Divestment: The Narendra Modi government on Thursday said it's unrealistic to expect Air India divestment to be completed by end of the fiscal after the Centre extended the deadline for the submission of preliminary bids for the state-owned airline to December 14. In an interview with CNBC-TV18, Tuhin Kanta Pandey, department of investment and public asset management (DIPAM) secretary, said the government has also allowed bidders to quote the enterprise value instead of a pre-fixed debt level to make the process more attractive. However, it's unrealistic to expect the divestment to be completed by end of fiscal, added Pandey. (Image: Reuters)
9. World Bank On India's Remittances: The World Bank on Thursday said remittances to India would fall this year by nine percent to $76 billion due to the ongoing coronavirus pandemic and global economic recession. India followed by China, Mexico, the Philippines, and Egypt continue to be the top five countries in 2020 to receive foreign remittances, the World Bank said in its latest report. As the COVID-19 pandemic and economic crisis continues, the amount of money migrant workers sends home is projected to decline 14 percent by 2021 compared to the pre-COVID-19 levels in 2019, according to the latest estimates published in the World Bank's Migration and Development Brief. Remittance flows to low and middle-income countries (LMICs) are projected to fall by 7 percent to $508 billion in 2020, followed by a further decline of 7.5 percent to $470 billion in 2021. (Image: Reuters)
9. World Bank On India's Remittances: The World Bank on Thursday said remittances to India would fall this year by nine percent to $76 billion due to the ongoing coronavirus pandemic and global economic recession. India followed by China, Mexico, the Philippines, and Egypt continue to be the top five countries in 2020 to receive foreign remittances, the World Bank said in its latest report. As the COVID-19 pandemic and economic crisis continues, the amount of money migrant workers sends home is projected to decline 14 percent by 2021 compared to the pre-COVID-19 levels in 2019, according to the latest estimates published in the World Bank's Migration and Development Brief. Remittance flows to low and middle-income countries (LMICs) are projected to fall by 7 percent to $508 billion in 2020, followed by a further decline of 7.5 percent to $470 billion in 2021. (Image: Reuters)
10. Employees Eligible For I-T Exemption Under LTC Scheme: The Income Tax Department on Thursday extended the I-T exemption available under the LTC cash voucher scheme to employees of state governments, state-owned enterprises, and the private sector. The Central Board of Direct Taxes in a statement said that the payment of cash allowance, subject to a maximum of Rs 36,000 per person as deemed Leave Travel Concession (LTC) fare per person (Round Trip) to non-central government employees, shall be allowed income-tax exemption subject to fulfillment of conditions.
10. Employees Eligible For I-T Exemption Under LTC Scheme: The Income Tax Department on Thursday extended the I-T exemption available under the LTC cash voucher scheme to employees of state governments, state-owned enterprises, and the private sector. The Central Board of Direct Taxes in a statement said that the payment of cash allowance, subject to a maximum of Rs 36,000 per person as deemed Leave Travel Concession (LTC) fare per person (Round Trip) to non-central government employees, shall be allowed income-tax exemption subject to fulfillment of conditions. "In order to provide the benefits to other employees (i.e. non-central government employees) ... it has been decided to provide a similar income-tax exemption for the payment of cash equivalent of LTC fare to the non-Central Government employees also," the CBDT said. Non-central government employees include employees of state governments, public sector enterprises, banks and private sector. (stock image)
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