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10 things you need to know before the opening bell on October 9

Updated : 2019-10-09 09:08:06

Indian shares are likely to open flat-to-negative on Wednesday after a day’s break, tracking global stocks which fell sharply as the US-China trade dispute looks far from ending, weighing on global economic growth. At 7:37 AM, SGX Nifty was trading at 11,119, up 0.20 percent, indicating a flat start for the Sensex and the Nifty.

1. Asia: Asian stocks fell the most in a week on Wednesday as the United States and China's ever-expanding dispute over trade and foreign policy showed little sign of coming to an end, weighing on global economic growth. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3 percent. Japan's Nikkei slid 0.81 percent. Australian shares were down 0.92 percent. (Image: Reuters)
1. Asia: Asian stocks fell the most in a week on Wednesday as the United States and China's ever-expanding dispute over trade and foreign policy showed little sign of coming to an end, weighing on global economic growth. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3 percent. Japan's Nikkei slid 0.81 percent. Australian shares were down 0.92 percent. (Image: Reuters)
2. US:  Stocks fell on Tuesday as U.S.-China tensions rose further ahead of high-level trade talks, while the British pound sank on reports that Brexit negotiations were close to breaking down. Wall Street stocks closed at session lows after Washington imposed visa restrictions on Chinese government and Communist Party officials over abuses of Muslim minorities. The Dow Jones Industrial Average fell 313.98 points, or 1.19 percent, to 26,164.04, the S&P 500 lost 45.73 points, or 1.56 percent, to 2,893.06 and the Nasdaq Composite dropped 132.52 points, or 1.67 percent, to 7,823.78. (Image: AP)
2. US:  Stocks fell on Tuesday as U.S.-China tensions rose further ahead of high-level trade talks, while the British pound sank on reports that Brexit negotiations were close to breaking down. Wall Street stocks closed at session lows after Washington imposed visa restrictions on Chinese government and Communist Party officials over abuses of Muslim minorities. The Dow Jones Industrial Average fell 313.98 points, or 1.19 percent, to 26,164.04, the S&P 500 lost 45.73 points, or 1.56 percent, to 2,893.06 and the Nasdaq Composite dropped 132.52 points, or 1.67 percent, to 7,823.78. (Image: AP)
3. Markets At Close On Monday: Equity benchmark BSE Sensex declined by 141 points after a volatile session on Monday, dragged down by losses in index heavyweights ITC, TCS, L&T, HDFC twins and Infosys amid weak global cues. After swinging 439 points during the day, the 30-share Sensex ended 141.33 points, or 0.38 percent, lower at 37,531.98. The broader NSE Nifty dropped 48.35 points, or 0.43 percent, to close at 11,126.40. Meanwhile, foreign institutional investors sold 494 crore in the cash market while domestic institutional investors bought 905 crore on October 7. (Image: Reuters)
3. Markets At Close On Monday: Equity benchmark BSE Sensex declined by 141 points after a volatile session on Monday, dragged down by losses in index heavyweights ITC, TCS, L&T, HDFC twins and Infosys amid weak global cues. After swinging 439 points during the day, the 30-share Sensex ended 141.33 points, or 0.38 percent, lower at 37,531.98. The broader NSE Nifty dropped 48.35 points, or 0.43 percent, to close at 11,126.40. Meanwhile, foreign institutional investors sold 494 crore in the cash market while domestic institutional investors bought 905 crore on October 7. (Image: Reuters)
4. Crude Oil: U.S. crude fell 0.42 percent to $52.41. Slower growth in the United States and China, the world's two-largest economies, suggests less demand for energy in the future.<br />A larger-than-expected increase in U.S. crude inventories also fanned fears that the global oil market will continue to struggle with excess supply. (Image: Reuters)
4. Crude Oil: U.S. crude fell 0.42 percent to $52.41. Slower growth in the United States and China, the world's two-largest economies, suggests less demand for energy in the future.
A larger-than-expected increase in U.S. crude inventories also fanned fears that the global oil market will continue to struggle with excess supply. (Image: Reuters)
5. Currency: The Indian rupee depreciated by 18 paise to 71.07 against the US dollar intra-day on Monday. (Image: Reuters)
5. Currency: The Indian rupee depreciated by 18 paise to 71.07 against the US dollar intra-day on Monday. (Image: Reuters)
6. BSE Joins hands With FICCI: To enhance MSME and startup environment, leading stock exchange BSE in association with Ficci on Monday organised a brainstorming session to identify gaps in the existing policies and make suggestions for robust policies. Besides, the session was organised to promote Udyam Saathi and Udyam Sakhi initiatives to foster the micro, small and medium enterprises (MSMEs) sector.
6. BSE Joins hands With FICCI: To enhance MSME and startup environment, leading stock exchange BSE in association with Ficci on Monday organised a brainstorming session to identify gaps in the existing policies and make suggestions for robust policies. Besides, the session was organised to promote Udyam Saathi and Udyam Sakhi initiatives to foster the micro, small and medium enterprises (MSMEs) sector. "Some of the concerns that were identified were simplifying the MSME definitions, availability of funds which will result in improved attitude of lenders and borrowers, pull up payment delays and increasing market access for the MSMEs," BSE said in a statement. (Image: Reuters)
 7. SBI Research On Depositor's Insurance: The Punjab & Maharashtra Cooperative Bank (PMC) scam points to the urgent need to massively increase the depositor insurance cover from the present Rs 1 lakh, says a report. The Deposit Insurance & Credit Guarantee Corporation (DICGC) insures each depositor in a bank up to a maximum of Rs 1 lakh for both principal and interest as on the date of liquidation/cancellation of the affected bank's licence or from the date of amalgamation/merger.
 7. SBI Research On Depositor's Insurance: The Punjab & Maharashtra Cooperative Bank (PMC) scam points to the urgent need to massively increase the depositor insurance cover from the present Rs 1 lakh, says a report. The Deposit Insurance & Credit Guarantee Corporation (DICGC) insures each depositor in a bank up to a maximum of Rs 1 lakh for both principal and interest as on the date of liquidation/cancellation of the affected bank's licence or from the date of amalgamation/merger. "The current upper limit of Rs 1 lakh per depositor, we believe, has outlived its shelf life and there is a need to revisit it," SBI's Research said in a report Monday. (Image: Reuters)
8. SEBI On Foreign Investors: Sebi Chairman Ajay Tyagi and other officials met scores of foreign investors in the US last week and saw keen interest from them in emerging areas such as REITs and InvITs, which have a total asset size of more than USD 10 billion.
8. SEBI On Foreign Investors: Sebi Chairman Ajay Tyagi and other officials met scores of foreign investors in the US last week and saw keen interest from them in emerging areas such as REITs and InvITs, which have a total asset size of more than USD 10 billion. "We met various stakeholders during the meetings. The participants welcomed various initiatives taken by Sebi," Tyagi said in the statement. During the meeting, the regulator found that "the participants were keen on emerging areas such as REITs (real estate investment trusts) and InvITs , (infrastructure investment trusts) which have more than USD 10 billion asset size as on today". Several participants also showed interest in the Alternative Investment Fund space with its relaxed foreign investment norms wherein the investments have rises by more than 15 times in the past 5 years. (Image: Reuters)
9. Reports On Food Grains Output: With the best monsoons in 25 years, the overall food grain production is expected to increase marginally by 8.4 million tonne from the average<br />output in the past five years at 140.57 million tonne in 2019-20, says a report. The monsoons have been normal or excess in 84 percent of the regions, while the rest of the regions getting insufficient rainfalls, the National Bulk Handling Corporation (NBHC) said in a report Monday. Production of monsoon-sown food grain is expected to be 140.57 mt in 2019-20, up by 8.4 mt from average output in the past five years, it added. The report said total rice is expected to show marginal improvement in sown area by 2.80 percent as farmers have shifted 20-25 percent of their crop areas from non- basmati rice to basmati in Punjab due to the higher export demand last year. (Image: Reuters)
9. Reports On Food Grains Output: With the best monsoons in 25 years, the overall food grain production is expected to increase marginally by 8.4 million tonne from the average
output in the past five years at 140.57 million tonne in 2019-20, says a report. The monsoons have been normal or excess in 84 percent of the regions, while the rest of the regions getting insufficient rainfalls, the National Bulk Handling Corporation (NBHC) said in a report Monday. Production of monsoon-sown food grain is expected to be 140.57 mt in 2019-20, up by 8.4 mt from average output in the past five years, it added. The report said total rice is expected to show marginal improvement in sown area by 2.80 percent as farmers have shifted 20-25 percent of their crop areas from non- basmati rice to basmati in Punjab due to the higher export demand last year. (Image: Reuters)
10. Government Probe On Hot-Rolled Steel Products: The government has started a probe to see whether the expiry of existing anti-dumping duty on certain hot-rolled steel products from China, Malaysia and South Korea would lead to continuation of dumping of the product, following complaints by the domestic industry. According to a notification of the Directorate General of Trade Remedies (DGTR), Jindal Stainless (Hisar) Ltd and Jindal Stainless Ltd have jointly filed a review petition for continued imposition of the existing anti-dumping duty on the imports of 'Hot Rolled Flat Products of Stainless Steel-304 grade' from China , Malaysia and Korea.
10. Government Probe On Hot-Rolled Steel Products: The government has started a probe to see whether the expiry of existing anti-dumping duty on certain hot-rolled steel products from China, Malaysia and South Korea would lead to continuation of dumping of the product, following complaints by the domestic industry. According to a notification of the Directorate General of Trade Remedies (DGTR), Jindal Stainless (Hisar) Ltd and Jindal Stainless Ltd have jointly filed a review petition for continued imposition of the existing anti-dumping duty on the imports of 'Hot Rolled Flat Products of Stainless Steel-304 grade' from China , Malaysia and Korea. "Based on the facts and data, the authority is of the opinion that there is a need to review for continued imposition of the duties in force in respect of the subject goods, originating in or exported from China, Malaysia and Korea," DGTR has said in a notification. (Image: Reuters)
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