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10 things you need to know before the opening bell on October 5

Updated : 2020-10-05 08:02:37

The Indian market is expected to open lower on Monday on concern and confusion over US President Donald Trump's COVID-19 diagnosis. At 7:36 am, the SGX Nifty traded 31 points lower at 11,409, indicating a weak start for the Sensex and the Nifty50.

1. Asia: Stocks in Asia-Pacific traded higher Monday morning as investors watched for developments on U.S. President Donald Trump’s health after he tested positive for the coronavirus last week. Meanwhile, stocks in Australia jumped in morning trade, with the S&P/ASX 200 up about 2.2 percent as shares of the country’s major banks surged. In Japan, the Nikkei 225 rose 1.34 percent in early trade as the Topix index gained 1.68 percent. South Korea’s Kospi added 0.35 percent. Overall, the MSCI Asia ex-Japan traded 0.41 percent higher. Markets in China are closed on Monday for a holiday, reported CNBC International. (Image: Reuters)
1. Asia: Stocks in Asia-Pacific traded higher Monday morning as investors watched for developments on U.S. President Donald Trump’s health after he tested positive for the coronavirus last week. Meanwhile, stocks in Australia jumped in morning trade, with the S&P/ASX 200 up about 2.2 percent as shares of the country’s major banks surged. In Japan, the Nikkei 225 rose 1.34 percent in early trade as the Topix index gained 1.68 percent. South Korea’s Kospi added 0.35 percent. Overall, the MSCI Asia ex-Japan traded 0.41 percent higher. Markets in China are closed on Monday for a holiday, reported CNBC International. (Image: Reuters)
2. US: Stock futures rose in overnight trading on Sunday as investors brace for another volatile week with President Donald Trump’s hospitalization adding more uncertainty to the market outlook ahead of Election Day.  Futures on the Dow Jones Industrial Average climbed about 200 points. The S&P 500 futures and the Nasdaq 100 futures both rose about 0.7 percent, reported CNBC International. (Image: AP)
2. US: Stock futures rose in overnight trading on Sunday as investors brace for another volatile week with President Donald Trump’s hospitalization adding more uncertainty to the market outlook ahead of Election Day.  Futures on the Dow Jones Industrial Average climbed about 200 points. The S&P 500 futures and the Nasdaq 100 futures both rose about 0.7 percent, reported CNBC International. (Image: AP)
3. Market At Close On Thursday: Indian shares ended over 1.5 percent higher on Thursday led by gains in banking and media stocks. Meanwhile, renewed US stimulus hopes kept the global markets lifted as well further aiding the sentiment. The Sensex ended 629 points higher at 38,697 while the Nifty rose 169 points to settle at 11,417. For the week, both indices were up over 3 percent each. Broader markets underperformed indices but were also up for the day. Nifty Midcap and Nifty Smallcap rose 0.8 percent and 0.6 percent, respectively. (Image: Reuters)
3. Market At Close On Thursday: Indian shares ended over 1.5 percent higher on Thursday led by gains in banking and media stocks. Meanwhile, renewed US stimulus hopes kept the global markets lifted as well further aiding the sentiment. The Sensex ended 629 points higher at 38,697 while the Nifty rose 169 points to settle at 11,417. For the week, both indices were up over 3 percent each. Broader markets underperformed indices but were also up for the day. Nifty Midcap and Nifty Smallcap rose 0.8 percent and 0.6 percent, respectively. (Image: Reuters)
4.  Crude Oil: Oil prices fell 3% on Friday after U.S. President Donald Trump tested positive for COVID-19, roiling risky assets, and as rising global crude output threatens to overwhelm the market’s weak recovery. Benchmark Brent and U.S. crude were both headed for a second straight week of losses. The uncertainty surrounding the U.S. president’s health added to a series of jitters, including a lackluster U.S. unemployment report and increased supply from major world oil producers. Brent crude was down $1.12, or 2.7 percent, at $39.81 a barrel, after earlier touching a session low of $38.79 a barrel. West Texas Intermediate, the U.S. oil benchmark, settled $1.67, or 4.3 percent, lower at $37.05 per barrel, reported CNBC International. (Image: Reuters)
4.  Crude Oil: Oil prices fell 3% on Friday after U.S. President Donald Trump tested positive for COVID-19, roiling risky assets, and as rising global crude output threatens to overwhelm the market’s weak recovery. Benchmark Brent and U.S. crude were both headed for a second straight week of losses. The uncertainty surrounding the U.S. president’s health added to a series of jitters, including a lackluster U.S. unemployment report and increased supply from major world oil producers. Brent crude was down $1.12, or 2.7 percent, at $39.81 a barrel, after earlier touching a session low of $38.79 a barrel. West Texas Intermediate, the U.S. oil benchmark, settled $1.67, or 4.3 percent, lower at $37.05 per barrel, reported CNBC International. (Image: Reuters)
5. Rupee Close: The Indian currency closed higher on Thursday amidst positive macro-economic data and a weak greenback overseas. The rupee ended 63 paise higher to 73.13 against the US dollar- the biggest single-day jump in a month. (Image: Reuters)
5. Rupee Close: The Indian currency closed higher on Thursday amidst positive macro-economic data and a weak greenback overseas. The rupee ended 63 paise higher to 73.13 against the US dollar- the biggest single-day jump in a month. (Image: Reuters)
6. Govt On Subsidies: Union commerce and industry minister Piyush Goyal on Saturday said quality, technology, and scale of production will help India take its annual exports to $1 trillion and not government subsidies. He exhorted exporters and the industry as a whole to target $1 trillion worth of shipments.
6. Govt On Subsidies: Union commerce and industry minister Piyush Goyal on Saturday said quality, technology, and scale of production will help India take its annual exports to $1 trillion and not government subsidies. He exhorted exporters and the industry as a whole to target $1 trillion worth of shipments. "Why can't we aim for $1 trillion of exports from India. We certainly can. I see no reason, (why) we cannot. For that we need to be clear on actionable items (and) subsidies are never going to get us there, I am very very clear about that," he said. He said there is a need to identify areas where sensible policies can help take exports to $1 trillion. (Image: PTI)
7. GST Council: The 42nd GST Council meeting is all set to discuss a whole host of issues proposing compliance relaxations, finding a solution to the on-going compensation cess issue of states and whether can the rate be reduced for ayurvedic hand sanitizers, sources told CNBC-TV18. The GST Council, which is set to meet on 5th October, will take a detailed view on the two options of borrowings given by centre, to states, to make good for lack of funds in the compensation cess kitty.
7. GST Council: The 42nd GST Council meeting is all set to discuss a whole host of issues proposing compliance relaxations, finding a solution to the on-going compensation cess issue of states and whether can the rate be reduced for ayurvedic hand sanitizers, sources told CNBC-TV18. The GST Council, which is set to meet on 5th October, will take a detailed view on the two options of borrowings given by centre, to states, to make good for lack of funds in the compensation cess kitty. "The Council is likely to revisit two options given by centre to meet compensation shortfall. As part of the revenue collections discussions, Centre will present a detailed calculation of GST Compensation cess collected and released so far," sources in the know elaborated. (Image: PTI)
8. Centre On COVID-19 Vaccine Doses: The Centre estimates to receive and utilise 40-50 crore doses of COVID-19 vaccine covering 20-25 crore people by July next year and it is preparing a format for the states to submit by October-end their list of priority population to be inoculated, Health Minister Harsh Vardhan said on Sunday. He said priority would be given to health workers engaged in COVID-19 management in getting inoculated and asserted the Centre would ensure fair and equitable distribution of vaccines, once they are ready. During an interaction with his social media followers on 'Sunday Samvad' platform, Vardhan said vaccine procurement would be done centrally with each consignment tracked real-time until delivery to ensure it reaches those who need it the most and there is no black-marketing. (Image: Reuters)
8. Centre On COVID-19 Vaccine Doses: The Centre estimates to receive and utilise 40-50 crore doses of COVID-19 vaccine covering 20-25 crore people by July next year and it is preparing a format for the states to submit by October-end their list of priority population to be inoculated, Health Minister Harsh Vardhan said on Sunday. He said priority would be given to health workers engaged in COVID-19 management in getting inoculated and asserted the Centre would ensure fair and equitable distribution of vaccines, once they are ready. During an interaction with his social media followers on 'Sunday Samvad' platform, Vardhan said vaccine procurement would be done centrally with each consignment tracked real-time until delivery to ensure it reaches those who need it the most and there is no black-marketing. (Image: Reuters)
9. CII Study On Indian Economy: The CEOs of top 115 companies who met at CII's National Council earlier this week indicated a revival of business sentiment and a gradual rise in expected corporate performance in a poll, raising hopes that a steady recovery of India's economy is on the anvil. The CEOs, who took the poll, included representatives from across sectors like metals and mining, manufacturing, auto, pharma, health, energy, infrastructure, construction and leading services sector including ITES, health hospitality tourism and e-commerce, the Confederation of Indian Industry (CII) said on Sunday.
9. CII Study On Indian Economy: The CEOs of top 115 companies who met at CII's National Council earlier this week indicated a revival of business sentiment and a gradual rise in expected corporate performance in a poll, raising hopes that a steady recovery of India's economy is on the anvil. The CEOs, who took the poll, included representatives from across sectors like metals and mining, manufacturing, auto, pharma, health, energy, infrastructure, construction and leading services sector including ITES, health hospitality tourism and e-commerce, the Confederation of Indian Industry (CII) said on Sunday. "A steady recovery of the Indian economy is on the anvil as corporate India restarts business and economic activity with lockdowns being increasingly relaxed in many parts of the country," the chamber said. (Image: Reuters)
10. FPIs Turn Net Sellers In September: Snapping their three-month buying spree, overseas investors turned net sellers in Indian markets in September due to uncertainty ahead of the US presidential polls and surging coronavirus cases. Foreign investors withdrew Rs 3,419 crore on net basis from Indian markets in September, according to depositories data. A net of Rs 7,783 crore was withdrawn from equities while the debt segment saw inflows of Rs 4,364 crore. Foreign portfolio investors (FPI) adopted a cautious stance ahead of the US presidential election and renewed fears due to rising COVID-19 cases, among others, experts said. (Image: Reuters)
10. FPIs Turn Net Sellers In September: Snapping their three-month buying spree, overseas investors turned net sellers in Indian markets in September due to uncertainty ahead of the US presidential polls and surging coronavirus cases. Foreign investors withdrew Rs 3,419 crore on net basis from Indian markets in September, according to depositories data. A net of Rs 7,783 crore was withdrawn from equities while the debt segment saw inflows of Rs 4,364 crore. Foreign portfolio investors (FPI) adopted a cautious stance ahead of the US presidential election and renewed fears due to rising COVID-19 cases, among others, experts said. (Image: Reuters)
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