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10 things you need to know before the opening bell on September 10

Updated : 2020-09-10 08:11:25

The Indian market is likely to open flat on Thursday after a rally in global markets. At 8:05 am, the SGX Nifty was trading 7.50 points or 0.07 percent lower at 11,298.50, indicating a flat start for the Sensex and Nifty50.

 1. Asian Stocks  | Stocks in Asia-Pacific traded higher Thursday morning following an overnight bounce in US stock markets led by a pullback in tech stocks. The Nikkei in Japan rose 0.67 percent in early trade while the Topix index advanced 0.66 percent. Overall, the MSCI Asia ex-Japan index traded 0.39 percent higher. (Image: Reuters)
1. Asian Stocks | Stocks in Asia-Pacific traded higher Thursday morning following an overnight bounce in US stock markets led by a pullback in tech stocks. The Nikkei in Japan rose 0.67 percent in early trade while the Topix index advanced 0.66 percent. Overall, the MSCI Asia ex-Japan index traded 0.39 percent higher. (Image: Reuters)
 2. US Stocks  | Wall Street's main indexes ended higher on Wednesday to snap a three-session losing skid as investors jumped back in to take advantage of the pullback in technology-related stocks, a day after the Nasdaq confirmed correction territory. The Dow Jones Industrial Average rose 439.58 points, or 1.6 percent, to close at 27,940.47, the S&P 500 gained 67.12 points, or 2.01 percent, to 3,398.96 and the Nasdaq Composite added 293.87 points, or 2.71 percent, to 11,141.56. (Image: Reuters)
2. US Stocks | Wall Street's main indexes ended higher on Wednesday to snap a three-session losing skid as investors jumped back in to take advantage of the pullback in technology-related stocks, a day after the Nasdaq confirmed correction territory. The Dow Jones Industrial Average rose 439.58 points, or 1.6 percent, to close at 27,940.47, the S&P 500 gained 67.12 points, or 2.01 percent, to 3,398.96 and the Nasdaq Composite added 293.87 points, or 2.71 percent, to 11,141.56. (Image: Reuters)
 3. Market at Close  | The Indian benchmark equity indices, Sensex and Nifty ended lower Wednesday dragged by selling in banking and IT stocks amid negative global cues. The Sensex ended 171.43 points or 0.45 percent lower at 38,193.92 while the Nifty lost 39.35 points or 0.35 percent to close at 11,278.00. Broader indices also declined with Nifty Smallcap100 and Nifty Midcap100 indices falling 1.51 percent and 0.54 percent, respectively.
3. Market at Close | The Indian benchmark equity indices, Sensex and Nifty ended lower Wednesday dragged by selling in banking and IT stocks amid negative global cues. The Sensex ended 171.43 points or 0.45 percent lower at 38,193.92 while the Nifty lost 39.35 points or 0.35 percent to close at 11,278.00. Broader indices also declined with Nifty Smallcap100 and Nifty Midcap100 indices falling 1.51 percent and 0.54 percent, respectively.
 4. Crude Oil  | Oil futures fell in early trade on Thursday, paring overnight gains, on worries about fuel demand after data showed US crude stockpiles rose last week, rather than dropping as expected, and COVID-19 cases continued to rise around the world. US West Texas Intermediate (WTI) crude futures fell 20 cents, or 0.5 percent, to $37.85 a barrel, after climbing 3.5 percent on Wednesday. Brent crude futures dropped 14 cents, or 0.3 percent to $40.65 a barrel, after rising 2.5 percent on Wednesday. (Image: AP)
4. Crude Oil | Oil futures fell in early trade on Thursday, paring overnight gains, on worries about fuel demand after data showed US crude stockpiles rose last week, rather than dropping as expected, and COVID-19 cases continued to rise around the world. US West Texas Intermediate (WTI) crude futures fell 20 cents, or 0.5 percent, to $37.85 a barrel, after climbing 3.5 percent on Wednesday. Brent crude futures dropped 14 cents, or 0.3 percent to $40.65 a barrel, after rising 2.5 percent on Wednesday. (Image: AP)
 5. Rupee  | The rupee recovered by 5 paise to settle at 73.55 against the US dollar on Wednesday helped by forex inflows into equities. Forex traders said corporate dollar inflows supported the rupee and the focus will be on Reliance stake sales. At the interbank forex market, the domestic unit opened at 73.67 against the US dollar and dropped to the day's low of 73.73 as equity markets declined. The rupee arrested its fall towards the end of the trade and touched the day's high of 73.47. The local unit finally settled at 73.55, registering a rise of 5 paise over its last close.
5. Rupee | The rupee recovered by 5 paise to settle at 73.55 against the US dollar on Wednesday helped by forex inflows into equities. Forex traders said corporate dollar inflows supported the rupee and the focus will be on Reliance stake sales. At the interbank forex market, the domestic unit opened at 73.67 against the US dollar and dropped to the day's low of 73.73 as equity markets declined. The rupee arrested its fall towards the end of the trade and touched the day's high of 73.47. The local unit finally settled at 73.55, registering a rise of 5 paise over its last close.
 6. Govt plans Rs 2.18 lakh crore for PLI scheme for next 5 years  | The government is planning to save about Rs 35,000 crore to help manage the fiscal load put by the production-linked incentive (PLI) and phased manufacturing program (PMP) schemes, its initiatives to attract investment into the country. Highly-placed government sources told CNBC-TV18 that these savings will be achieved by the transition from MEIS to Remission of Duties and Taxes on Exported Products (RoDTEP), which is likely to lead to Rs 3,08,624 crore in savings between FY21 and FY26 -- about Rs 34,666 crore in the current fiscal.
6. Govt plans Rs 2.18 lakh crore for PLI scheme for next 5 years | The government is planning to save about Rs 35,000 crore to help manage the fiscal load put by the production-linked incentive (PLI) and phased manufacturing program (PMP) schemes, its initiatives to attract investment into the country. Highly-placed government sources told CNBC-TV18 that these savings will be achieved by the transition from MEIS to Remission of Duties and Taxes on Exported Products (RoDTEP), which is likely to lead to Rs 3,08,624 crore in savings between FY21 and FY26 -- about Rs 34,666 crore in the current fiscal.
 7. Finance Minister launches doorstep banking initiative by PSBs  | FM Nirmala Sitharaman on Wednesday launched a doorstep banking services initiative by public sector banks (PSBs) which will provide convenience to customers. This is part of EASE (enhanced access and service excellence) reforms that the Department of Financial Services had undertaken in 2018.
7. Finance Minister launches doorstep banking initiative by PSBs | FM Nirmala Sitharaman on Wednesday launched a doorstep banking services initiative by public sector banks (PSBs) which will provide convenience to customers. This is part of EASE (enhanced access and service excellence) reforms that the Department of Financial Services had undertaken in 2018.
 8. SEBI  | Markets regulator Securities & Exchange Board of India decided to implement system-driven disclosures for members of the promoter group, directors and designated persons of a listed company. The system-driven disclosures will pertain to trading in equity shares and equity derivative instruments — futures and options — of the listed company by such entities, Sebi said in a circular.
8. SEBI | Markets regulator Securities & Exchange Board of India decided to implement system-driven disclosures for members of the promoter group, directors and designated persons of a listed company. The system-driven disclosures will pertain to trading in equity shares and equity derivative instruments — futures and options — of the listed company by such entities, Sebi said in a circular.
 9. US jobs data  | US employers advertised more jobs but hired fewer workers in July, sending mixed signals about the job market in the wake of the coronavirus outbreak. The Labour Department said Wednesday that the number of US job postings on the last day of July rose to 6.6 million from 6 million at the end of June. A year earlier, employers posted 7.2 million job openings. Hiring dropped to 5.8 million from 7 million in June. The number of Americans laid off or discharged fell to 1.7 million from nearly 2 million in June.
9. US jobs data | US employers advertised more jobs but hired fewer workers in July, sending mixed signals about the job market in the wake of the coronavirus outbreak. The Labour Department said Wednesday that the number of US job postings on the last day of July rose to 6.6 million from 6 million at the end of June. A year earlier, employers posted 7.2 million job openings. Hiring dropped to 5.8 million from 7 million in June. The number of Americans laid off or discharged fell to 1.7 million from nearly 2 million in June.
 10. India's fuel demand  | India's fuel demand fell 15.6 percent in August compared with the same month last year. Consumption of fuel totalled 14.39 million tonnes, according to the data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry. Sales of gasoline, or petrol, were 7.5 percent lower from a year earlier at 2.38 million tonnes. (Image: Reuters)
10. India's fuel demand | India's fuel demand fell 15.6 percent in August compared with the same month last year. Consumption of fuel totalled 14.39 million tonnes, according to the data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry. Sales of gasoline, or petrol, were 7.5 percent lower from a year earlier at 2.38 million tonnes. (Image: Reuters)
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