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10 things you need to know before the opening bell on October 31

Updated : 2019-10-31 07:26:45

The Indian market is likely to open positive today tracking gains in global markets on the US Federal Reserve's decision to cut interest rates by a quarter of a percentage point. At 7:00 am, the SGX Nifty was trading 37.50 points or 0.32 percent higher at 11,888, indicating a positive start for the Sensex and the Nifty. Here are the 10 vital things to know before the market opens.

1. Asia: Asian shares rose on Thursday and US stock futures edged higher after the US Federal Reserve cut interest rates as expected to keep the economic expansion on track. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2 percent. Japan's Nikkei stock index rose 0.41 percent, but Australian shares fell 0.24 percent. (Image: Reuters)
1. Asia: Asian shares rose on Thursday and US stock futures edged higher after the US Federal Reserve cut interest rates as expected to keep the economic expansion on track. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2 percent. Japan's Nikkei stock index rose 0.41 percent, but Australian shares fell 0.24 percent. (Image: Reuters)
2. US: US stocks advanced on Wednesday, with the S&P 500 closing at a record for the second time in three sessions, after a policy statement by the US Federal Reserve that cut interest rates by a quarter of a percentage point. The Fed lowered its policy rate to a target range between 1.50 percent and 1.75 percent but dropped a previous reference in its statement to
2. US: US stocks advanced on Wednesday, with the S&P 500 closing at a record for the second time in three sessions, after a policy statement by the US Federal Reserve that cut interest rates by a quarter of a percentage point. The Fed lowered its policy rate to a target range between 1.50 percent and 1.75 percent but dropped a previous reference in its statement to "act as appropriate" to sustain the economic expansion, which could signal the Fed may hold off on future rate cuts. The Dow Jones Industrial Average rose 115.54 points, or 0.43 percent, to 27,186.96, the S&P 500 gained 9.92 points, or 0.33 percent, to 3,046.81 and the Nasdaq Composite added 27.12 points, or 0.33 percent, to 8,303.98. (Image: AP)
3. Markets at close on Wednesday: Indian equity benchmark indices closed higher for the fourth consecutive day on Wednesday on the back of gains from PSU banks. At 3:30 pm, the 30-share BSE Sensex ended 220.03 points or 0.55 percent at 40,051 while 50-share index Nifty50 ended with 63.40 points or 0.54 percent higher at 11,850.25. Meanwhile, foreign institutional investors bought 7,192 crores in the cash market while domestic institutional investors bought 186 crores. (Image: Reuters)
3. Markets at close on Wednesday: Indian equity benchmark indices closed higher for the fourth consecutive day on Wednesday on the back of gains from PSU banks. At 3:30 pm, the 30-share BSE Sensex ended 220.03 points or 0.55 percent at 40,051 while 50-share index Nifty50 ended with 63.40 points or 0.54 percent higher at 11,850.25. Meanwhile, foreign institutional investors bought 7,192 crores in the cash market while domestic institutional investors bought 186 crores. (Image: Reuters)
4. Crude oil: Oil prices fell for a fourth day on Wednesday, extending losses after a surge in US inventories surprised investors, overshadowing an interest rate cut by the Federal Reserve. Brent crude futures were down 6 cents at $60.55 a barrel by 0033 GMT, having fallen by 1.6 percent on Wednesday. US West Texas Intermediate (WTI) crude futures were down by 16 cents, 0.3 percent, at $54.90 a barrel, after declining 0.9 percent. (Image: Reuters)
4. Crude oil: Oil prices fell for a fourth day on Wednesday, extending losses after a surge in US inventories surprised investors, overshadowing an interest rate cut by the Federal Reserve. Brent crude futures were down 6 cents at $60.55 a barrel by 0033 GMT, having fallen by 1.6 percent on Wednesday. US West Texas Intermediate (WTI) crude futures were down by 16 cents, 0.3 percent, at $54.90 a barrel, after declining 0.9 percent. (Image: Reuters)
5. Currency: The Indian rupee settled 6 paise lower at 70.90 to the US dollar on Wednesday as participants exercised caution ahead of the Federal Reserve's monetary policy decision. Starting off weaker, the domestic currency went on to hit a low of 71.03 against the US dollar during the day. It, however, claimed some of its lost ground to settle at 70.90, showing a fall of 6 paise over its previous close. (Image: Reuters)
5. Currency: The Indian rupee settled 6 paise lower at 70.90 to the US dollar on Wednesday as participants exercised caution ahead of the Federal Reserve's monetary policy decision. Starting off weaker, the domestic currency went on to hit a low of 71.03 against the US dollar during the day. It, however, claimed some of its lost ground to settle at 70.90, showing a fall of 6 paise over its previous close. (Image: Reuters)
6. Piyush Goyal on free-trade agreement: India will not sign any free-trade agreement (FTA) in a
6. Piyush Goyal on free-trade agreement: India will not sign any free-trade agreement (FTA) in a "rush" but will engage with the world without compromising the interest of the domestic industry, commerce and industry minister Piyush Goyal said on Wednesday. He said India will enter into an FTA or comprehensive partnership agreements on its terms and will do what is best for the people and national interest. (Image: PTI)
7. India, Saudi ink pacts: India and Saudi Arabia on Tuesday inked over a dozen agreements in several key sectors including oil and gas, defence and civil aviation to bolster their ties as Prime Minister Narendra Modi held extensive talks with the kingdom's top leadership during which a strategic partnership council was established to coordinate on important issues.  (Image: Reuters)
7. India, Saudi ink pacts: India and Saudi Arabia on Tuesday inked over a dozen agreements in several key sectors including oil and gas, defence and civil aviation to bolster their ties as Prime Minister Narendra Modi held extensive talks with the kingdom's top leadership during which a strategic partnership council was established to coordinate on important issues.  (Image: Reuters)
8. India, China growth to accelerate in Q4: India and China are projected to see accelerated economic growth in the fourth quarter of this year, bucking trends in the US and the European Union, according to a report. The Economist Intelligence Unit on Wednesday said it expects third-quarter GDP growth to be weak across most of the world's biggest economies.
8. India, China growth to accelerate in Q4: India and China are projected to see accelerated economic growth in the fourth quarter of this year, bucking trends in the US and the European Union, according to a report. The Economist Intelligence Unit on Wednesday said it expects third-quarter GDP growth to be weak across most of the world's biggest economies. "Of the G7 and BRICS economies, only India and the UK are expected to post third-quarter results that show an acceleration from the second quarter. In the case of the UK, however, there is limited cause for celebration, as this only represents a recovery from a disastrous second quarter," it said in a release providing excerpts of a report. (Image: Reuters)
9. Unsecured loans driving consumer credit: Reliance on unsecured lending for consumption purposes has grown due to the tighter credit market, which raises
9. Unsecured loans driving consumer credit: Reliance on unsecured lending for consumption purposes has grown due to the tighter credit market, which raises "concerns" for the future, a credit information company said on Wednesday. Even though loan defaults in the consumer segments are stable, there are build-up of stress in non-bank finance companies (NBFCs) portfolios, Transunion Cibil said. It can be noted that over the last year, a crisis at NBFCs has hit the credit market as the liquidity conditions became difficult. The subsequent sluggish economic growth ensured corporates stay away from borrowings, forcing banks to focus on the consumer segment. (Image: Reuters)
10. Piyush Goyal on startups: Commerce and industry minister Piyush Goyal on Wednesday assured that startups will never be harassed and that the government is taking steps to promote them.
10. Piyush Goyal on startups: Commerce and industry minister Piyush Goyal on Wednesday assured that startups will never be harassed and that the government is taking steps to promote them. "I assure you that start-ups will never be harassed. They have to do the limited activity of registering themselves so that good law is not misused by a few people," he said at a function. The minister said the government has come out with clarifications that startups would not be asked any questions if they are registered with and recognized by the Department for Promotion of Industry and Internal Trade (DPIIT). "Few investments which are genuine investments in startups possibly got notice probably seeking some information. I think there is no harm in giving that information," Goyal said.  (Image: Reuters)
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