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10 things you need to know before the opening bell on September 14

Updated : 2020-09-14 07:48:58

The Indian stock market is expected to open marginally higher on Monday tracking positive trends in global markets. At 7:41 am, the SGX Nifty traded 23.50 points higher at 11,493.50, indicating a positive start for the Sensex and the Nifty50.

1. Asia: Stocks in Asia-Pacific rose in Monday morning trade, with investors watching shares of Japanese conglomerate Softbank Group following an announcement of its sale of U.K. chip designer Arm. In Japan, the Nikkei 225 rose 0.56 percent in early trade while the Topix index added 0.69 percent. South Korea’s Kospi also gained 0.8 percent. Australia’s S&P/ASX 200 edged 0.64 percent higher. Shares of Macquarie Group, however, plunged more than 3 percent after the firm announced Monday it anticipated a 35 percent plunge in its first-half earnings. Overall, the MSCI Asia ex-Japan index traded 0.22 percent higher, reported CNBC International. (Image: AP)
1. Asia: Stocks in Asia-Pacific rose in Monday morning trade, with investors watching shares of Japanese conglomerate Softbank Group following an announcement of its sale of U.K. chip designer Arm. In Japan, the Nikkei 225 rose 0.56 percent in early trade while the Topix index added 0.69 percent. South Korea’s Kospi also gained 0.8 percent. Australia’s S&P/ASX 200 edged 0.64 percent higher. Shares of Macquarie Group, however, plunged more than 3 percent after the firm announced Monday it anticipated a 35 percent plunge in its first-half earnings. Overall, the MSCI Asia ex-Japan index traded 0.22 percent higher, reported CNBC International. (Image: AP)
2. US: U.S. stock futures rose on Sunday night after a sell-off in tech shares led to the market’s first back-to-back weekly declines in months. Dow Jones Industrial Average futures traded 203 points higher, 0.7 percent. The S&P 500 climbed 0.8 percent and Nasdaq 100 futures were up by 1.1 percent. Sentiment was lifted in part by news of Nvidia buying chip maker Arm Holdings from SoftBank for $40 billion. Nvidia will finance the deal through a combination of cash and common stock, reported CNBC International. (Image: AP)
2. US: U.S. stock futures rose on Sunday night after a sell-off in tech shares led to the market’s first back-to-back weekly declines in months. Dow Jones Industrial Average futures traded 203 points higher, 0.7 percent. The S&P 500 climbed 0.8 percent and Nasdaq 100 futures were up by 1.1 percent. Sentiment was lifted in part by news of Nvidia buying chip maker Arm Holdings from SoftBank for $40 billion. Nvidia will finance the deal through a combination of cash and common stock, reported CNBC International. (Image: AP)
3. Market At Close On Friday: Indian benchmark indices ended flat on Friday as gains from IT and auto stocks were capped by banking and financial services sector. However, the indices closed 1 percent higher this week, with Reliance Industries adding most gains (+180 points). The stock surged over 12 percent this week. At close, the Sensex ended 14.23 points to 38,854 while the Nifty50 ended at 11,464, up 15 points. Broader markets ended higher as compared to the benchmark indices. Nifty Midcap 100 and Nifty Smallcap 100 indexes closed 0.68 percent and 0.27 percent higher respectively. (Image: Reuters)
3. Market At Close On Friday: Indian benchmark indices ended flat on Friday as gains from IT and auto stocks were capped by banking and financial services sector. However, the indices closed 1 percent higher this week, with Reliance Industries adding most gains (+180 points). The stock surged over 12 percent this week. At close, the Sensex ended 14.23 points to 38,854 while the Nifty50 ended at 11,464, up 15 points. Broader markets ended higher as compared to the benchmark indices. Nifty Midcap 100 and Nifty Smallcap 100 indexes closed 0.68 percent and 0.27 percent higher respectively. (Image: Reuters)
4. Crude Oil: Oil prices edged higher on Friday as equities markets firmed, but crude remained on track for a second weekly drop as investors expected a global glut to persist if demand weakens further with rising COVID-19 cases in some countries.Brent crude rose 16 cents, or 0.4 percent, to $40.22 a barrel. U.S. crude settled 3 cents, or 0.08 percent, higher at $37.33. For the week, however, it declined more than 6 percent, reported CNBC International. (Image: Reuters)
4. Crude Oil: Oil prices edged higher on Friday as equities markets firmed, but crude remained on track for a second weekly drop as investors expected a global glut to persist if demand weakens further with rising COVID-19 cases in some countries.Brent crude rose 16 cents, or 0.4 percent, to $40.22 a barrel. U.S. crude settled 3 cents, or 0.08 percent, higher at $37.33. For the week, however, it declined more than 6 percent, reported CNBC International. (Image: Reuters)
5. Rupee Close: The Indian rupee depreciated 7 paise to close at 73.53 against the US dollar on Friday tracking the muted domestic equities. The currency settled at 73.46 against the American dollar on Thursday. (Image: Reuters)
5. Rupee Close: The Indian rupee depreciated 7 paise to close at 73.53 against the US dollar on Friday tracking the muted domestic equities. The currency settled at 73.46 against the American dollar on Thursday. (Image: Reuters)
6. SEBI On Multi-Cap Allocation Circular: Market regulator, Sebi, on Sunday clarified that mutual funds have multiple options to comply with the changes in the framework for multi-cap mutual funds. Further, it said that the changes are targeted at ensuring that funds are true to their 'label'.
6. SEBI On Multi-Cap Allocation Circular: Market regulator, Sebi, on Sunday clarified that mutual funds have multiple options to comply with the changes in the framework for multi-cap mutual funds. Further, it said that the changes are targeted at ensuring that funds are true to their 'label'. "Sebi would like to clarify that mutual funds have many options to meet with the requirements of the circular, based on the preference of their unitholders. Apart from rebalancing their portfolio in the multi-cap schemes, they could inter-alia facilitate a switch to other schemes by unitholders, merge their multi-cap scheme with their large-cap scheme or convert their multi-cap scheme to another scheme category, for instance, large cum mid-cap scheme," said Sebi in the statement issued on Sunday. (Image: Reuters)
7. 42nd GST Council Meeting Likely To Be Postponed: As the stand-off on GST compensation continues between states and the central government, sources have indicated that the 42nd GST Council meet which was scheduled for September 19, may now be held on October 5. Government sources told CNBC-TV18:
7. 42nd GST Council Meeting Likely To Be Postponed: As the stand-off on GST compensation continues between states and the central government, sources have indicated that the 42nd GST Council meet which was scheduled for September 19, may now be held on October 5. Government sources told CNBC-TV18: "The meet has been postponed as the Centre expects the Opposition to raise the issue of delayed compensation pay out to states in the upcoming monsoon session, which will begin from September 14." Sources added, "By end-September, the Centre would have a response from all states and union territories about the two options suggested by the GST Council, and the government may release some funds to states as GST compensation that have been collected so far." (Image: PTI)
8. Industrial Production Shrinks: India's industrial output as measured by Index of Industrial Production (IIP) declined by 10.4 per cent in the month of July 2020 as compared to 4.3 percent in the year-ago period, showed data released by the National Statistics Office (NSO) on Friday. According to the CNBC-TV18 Poll, the forecast for July IIP was pegged at -10.9 percent. According to the IIP data, manufacturing sector production registered a decline of 11.1 per cent, while the output of mining and power fell 13 per cent and 2.5 per cent, respectively.
8. Industrial Production Shrinks: India's industrial output as measured by Index of Industrial Production (IIP) declined by 10.4 per cent in the month of July 2020 as compared to 4.3 percent in the year-ago period, showed data released by the National Statistics Office (NSO) on Friday. According to the CNBC-TV18 Poll, the forecast for July IIP was pegged at -10.9 percent. According to the IIP data, manufacturing sector production registered a decline of 11.1 per cent, while the output of mining and power fell 13 per cent and 2.5 per cent, respectively. "In view of the preventive measures and announcement of nationwide lockdown by the Government to contain the spread of COVID-19 pandemic, a large number of the industrial sector establishments were not operating from the end of March 2020 onwards. (Image: Reuters)
9. FPIs Turn Net Sellers In September: Foreign portfolio investors (FPI) turned net sellers in Indian markets by pulling out Rs 2,038 crore so far in September as participants turned cautious in view of rising Indo-China tensions and weak global cues. According to the depositories data, a net Rs 3,510 crore was withdrawn from equities, while Rs 1,472 crore was pumped into debts by FPIs between September 1-11. FPIs were net buyers for three consecutive months -- June to August. They invested Rs 46,532 crore in August, Rs 3,301 crore in July and Rs 24,053 crore in June on a net basis. (Image: Reuters)
9. FPIs Turn Net Sellers In September: Foreign portfolio investors (FPI) turned net sellers in Indian markets by pulling out Rs 2,038 crore so far in September as participants turned cautious in view of rising Indo-China tensions and weak global cues. According to the depositories data, a net Rs 3,510 crore was withdrawn from equities, while Rs 1,472 crore was pumped into debts by FPIs between September 1-11. FPIs were net buyers for three consecutive months -- June to August. They invested Rs 46,532 crore in August, Rs 3,301 crore in July and Rs 24,053 crore in June on a net basis. (Image: Reuters)
10. Moody's On Indian Economy Contraction: Moody’s on Friday projected India’s real GDP will contract by 11.5 percent in the fiscal year starting April 2020 (fiscal 2020), much weaker than its previous forecast of a 4 percent contraction. The Ratings agency expects growth will rebound to 10.6 percent in fiscal 2021, reflecting a strong statistical base effect from the low GDP levels of 2020 as economic activity gradually normalises. “The sharp decline in growth will result in materially weaker government revenue combined with increased fiscal expenditure in response to the coronavirus outbreak, this will contribute to a wider general government fiscal deficit, which we now expect to reach 12.0% of GDP in fiscal 2020.” (Image: Reuters)
10. Moody's On Indian Economy Contraction: Moody’s on Friday projected India’s real GDP will contract by 11.5 percent in the fiscal year starting April 2020 (fiscal 2020), much weaker than its previous forecast of a 4 percent contraction. The Ratings agency expects growth will rebound to 10.6 percent in fiscal 2021, reflecting a strong statistical base effect from the low GDP levels of 2020 as economic activity gradually normalises. “The sharp decline in growth will result in materially weaker government revenue combined with increased fiscal expenditure in response to the coronavirus outbreak, this will contribute to a wider general government fiscal deficit, which we now expect to reach 12.0% of GDP in fiscal 2020.” (Image: Reuters)
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