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10 things you need to know before the opening bell on September 25

Updated : 2020-09-25 07:50:58

The Indian market is likely to open higher on Friday following positive momentum in Asian peers. At 7:34 am, the SGX Nifty traded 73 points higher at 10,913, indicating a higher start for the Sensex and the Nifty50.

1. Asia: Stocks in Asia-Pacific edged higher in Friday morning trade following a volatile session overnight on Wall Street. In Japan, the Nikkei 225 rose 0.48 percent while the Topix index shed 0.52 percent. South Korea’s Kospi also advanced 0.67 percent. Meanwhile, Australia’s S&P/ASX 200 gained 0.81 percent. Overall, the MSCI Asia ex-Japan index traded 0.33 percent higher. Investors will monitor Chinese assets after FTSE Russell announced Thursday that Chinese government bonds are scheduled to be included in the FTSE World Government Bond Index starting October 2021, reported CNBC International. (Image: Reuters)
1. Asia: Stocks in Asia-Pacific edged higher in Friday morning trade following a volatile session overnight on Wall Street. In Japan, the Nikkei 225 rose 0.48 percent while the Topix index shed 0.52 percent. South Korea’s Kospi also advanced 0.67 percent. Meanwhile, Australia’s S&P/ASX 200 gained 0.81 percent. Overall, the MSCI Asia ex-Japan index traded 0.33 percent higher. Investors will monitor Chinese assets after FTSE Russell announced Thursday that Chinese government bonds are scheduled to be included in the FTSE World Government Bond Index starting October 2021, reported CNBC International. (Image: Reuters)
2. US: U.S. stock futures rose slightly on Thursday evening as the market indexes tried to avoid a fourth consecutive week of losses.  Futures for the Dow Jones Industrial Average gained about 110 points, or 0.5 percent. Contracts tied to the S&P 500 and the Nasdaq Composite ticked up 0.5 percent and 0.6 percent, respectively. The move in futures comes after the three major U.S. indexes held on to slight gains during a choppy session Thursday but were still negative for the week. The Nasdaq Composite slightly outperformed, gaining about 0.4 percent, and has also been the best performing index this week, reported CNBC International. (Image: AP)
2. US: U.S. stock futures rose slightly on Thursday evening as the market indexes tried to avoid a fourth consecutive week of losses.  Futures for the Dow Jones Industrial Average gained about 110 points, or 0.5 percent. Contracts tied to the S&P 500 and the Nasdaq Composite ticked up 0.5 percent and 0.6 percent, respectively. The move in futures comes after the three major U.S. indexes held on to slight gains during a choppy session Thursday but were still negative for the week. The Nasdaq Composite slightly outperformed, gaining about 0.4 percent, and has also been the best performing index this week, reported CNBC International. (Image: AP)
3. Market At Close On Thursday: The Indian benchmark equity indices, Sensex and Nifty ended Thursday's session lower, their sixth consecutive day of losses, following steep losses in Asian peers amid weak global cues. All sectors witnesses major selling weighing on the benchmarks led by the metal, IT, PSU bank, IT and auto indices down over 3 percent each. The Sensex ended 1,114.82 points or 2.96 percent lower at 36,553.60 while the Nifty lost 307 points or 2.76 percent to settle at 10,824.65 . Broader indices ended lower with Nifty Smallcap100 closing 2.42 percent while Nifty Midcap100 fell 2.37 percent. (Image: Reuters)
3. Market At Close On Thursday: The Indian benchmark equity indices, Sensex and Nifty ended Thursday's session lower, their sixth consecutive day of losses, following steep losses in Asian peers amid weak global cues. All sectors witnesses major selling weighing on the benchmarks led by the metal, IT, PSU bank, IT and auto indices down over 3 percent each. The Sensex ended 1,114.82 points or 2.96 percent lower at 36,553.60 while the Nifty lost 307 points or 2.76 percent to settle at 10,824.65 . Broader indices ended lower with Nifty Smallcap100 closing 2.42 percent while Nifty Midcap100 fell 2.37 percent. (Image: Reuters)
4. Crude Oil: Oil prices steadied on Thursday, as the bullish impact of a fall in U.S. inventories was offset by a stronger dollar and a renewed wave of coronavirus cases in Europe that led several countries to reimpose travel restrictions. Brent crude futures rose 8 cents, or 0.2 percent, to $41.85 a barrel. West Texas Intermediate crude settled 38 cents, or 0.95 percent, higher at $40.31 per barrel. Both benchmarks traded lower earlier in the session, reported CNBC International. (Image: Reuters)
4. Crude Oil: Oil prices steadied on Thursday, as the bullish impact of a fall in U.S. inventories was offset by a stronger dollar and a renewed wave of coronavirus cases in Europe that led several countries to reimpose travel restrictions. Brent crude futures rose 8 cents, or 0.2 percent, to $41.85 a barrel. West Texas Intermediate crude settled 38 cents, or 0.95 percent, higher at $40.31 per barrel. Both benchmarks traded lower earlier in the session, reported CNBC International. (Image: Reuters)
5. Rupee Close: The Indian currency fell sharply to one-month low due to global cues and volatile equity markets. The rupee ended 32 paise lower at 73.89 against the US dollar as compared to Wednesday's close of 73.57. (Image: Reuters)
5. Rupee Close: The Indian currency fell sharply to one-month low due to global cues and volatile equity markets. The rupee ended 32 paise lower at 73.89 against the US dollar as compared to Wednesday's close of 73.57. (Image: Reuters)
6. Govt To Extend IBC Suspension: The government has extended the suspension of insolvency proceedings for any COVID-19 related default by a period of three months, effective from September 25. The Insolvency & Bankruptcy Code (IBC) was suspended for a period of six months with effect from March 25, 2020, by the government earlier, to protect those experiencing financial distress on account of the pandemic. This means that no insolvency proceedings can be initiated against any borrower for defaults arising on or after March 25, 2020, until such time that the IBC remains suspended. The government has now decided to further extend the suspension for another three months until the last week of December under the newly inserted Section 10A of the IBC. (Image: Reuters)
6. Govt To Extend IBC Suspension: The government has extended the suspension of insolvency proceedings for any COVID-19 related default by a period of three months, effective from September 25. The Insolvency & Bankruptcy Code (IBC) was suspended for a period of six months with effect from March 25, 2020, by the government earlier, to protect those experiencing financial distress on account of the pandemic. This means that no insolvency proceedings can be initiated against any borrower for defaults arising on or after March 25, 2020, until such time that the IBC remains suspended. The government has now decided to further extend the suspension for another three months until the last week of December under the newly inserted Section 10A of the IBC. (Image: Reuters)
7. KV Kamath On Digital Services: The coronavirus pandemic has dealt a serious blow to all economies, but the growth contraction in India is particularly painful. The pandemic has also thrown a lot of opportunities. It has quickened the pace of digitisation - schools and colleges have gone online, even government services which are the last to pick-up anything modern are all online now. The government has also come with some creative packages - one, it has tried to get into global supply chains by announcing PLI schemes and has ensured reforms in the labour sector and in agri trade so that agriculture becomes robust again, said KV Kamath. The financial sector was always on the forefront of technology and digitisation. (image: PTI)
7. KV Kamath On Digital Services: The coronavirus pandemic has dealt a serious blow to all economies, but the growth contraction in India is particularly painful. The pandemic has also thrown a lot of opportunities. It has quickened the pace of digitisation - schools and colleges have gone online, even government services which are the last to pick-up anything modern are all online now. The government has also come with some creative packages - one, it has tried to get into global supply chains by announcing PLI schemes and has ensured reforms in the labour sector and in agri trade so that agriculture becomes robust again, said KV Kamath. The financial sector was always on the forefront of technology and digitisation. (image: PTI)
8. Social Security Code: The social security code passed by the Parliament this week, along with two other labour codes, is expected to revamp the growing gig economy, and will entail several changes for players such as Zomato, Swiggy, OLa, Uber and even ecommerce platforms such as Amazon and Flipkart, which employ temporary workers. One of the key proposals in the code is that the central government as well as state governments create a Social Security Fund for the welfare of the unorganised workers, gig workers and platform workers. The code proposes that aggregators’ contribute a minimum of 1 percent of their annual turnover, going up to 2 percent, as may be notified by the central government, to this social security fund. (Image: Reuters)
8. Social Security Code: The social security code passed by the Parliament this week, along with two other labour codes, is expected to revamp the growing gig economy, and will entail several changes for players such as Zomato, Swiggy, OLa, Uber and even ecommerce platforms such as Amazon and Flipkart, which employ temporary workers. One of the key proposals in the code is that the central government as well as state governments create a Social Security Fund for the welfare of the unorganised workers, gig workers and platform workers. The code proposes that aggregators’ contribute a minimum of 1 percent of their annual turnover, going up to 2 percent, as may be notified by the central government, to this social security fund. (Image: Reuters)
9. India On Chemical Import: India has initiated a probe into the alleged dumping of a chemical, used in pharmaceutical and agrochemicals industries, from China and South Korea following a complaint by a domestic manufacturer. Cabot Sanmar Ltd filed the application before the commerce ministry's investigation arm DGTR, seeking initiation of an anti-dumping probe concerning imports of 'Untreated Fumed Silica' from these two counties. The company has alleged that material injury is being caused to the domestic industry due to dumped imports from China and Korea and has requested for the imposition of anti-dumping duty on the imports, according to the notification of the Directorate General of Trade Remedies (DGTR). On the basis of prima facie evidence submitted by the industry,
9. India On Chemical Import: India has initiated a probe into the alleged dumping of a chemical, used in pharmaceutical and agrochemicals industries, from China and South Korea following a complaint by a domestic manufacturer. Cabot Sanmar Ltd filed the application before the commerce ministry's investigation arm DGTR, seeking initiation of an anti-dumping probe concerning imports of 'Untreated Fumed Silica' from these two counties. The company has alleged that material injury is being caused to the domestic industry due to dumped imports from China and Korea and has requested for the imposition of anti-dumping duty on the imports, according to the notification of the Directorate General of Trade Remedies (DGTR). On the basis of prima facie evidence submitted by the industry, "the authority, hereby, initiates an investigation", it said. (image: AP)
10. FDA On HCQ Side-Effects: Hydroxychloroquine and chloroquine are associated with higher rates of cardiovascular problems, concluded a study published in the British Journal of Clinical Pharmacology. These problems include life-threatening heart rhythm events, heart failure and cardiomyopathy (resulting in damage to the heart muscle). In pursual of an effective treatment of COVID-19, the anti-malarial drug, Hydroxychloroquine (HCQ) and chloroquine (CQ) were found and declared competent. However, despite its widespread use, data regarding their safety is relatively inadequate. In such a case, we must understand the mechanism of how they work, said the British Journal of Clinical Pharmacology. (Image: Reuters)
10. FDA On HCQ Side-Effects: Hydroxychloroquine and chloroquine are associated with higher rates of cardiovascular problems, concluded a study published in the British Journal of Clinical Pharmacology. These problems include life-threatening heart rhythm events, heart failure and cardiomyopathy (resulting in damage to the heart muscle). In pursual of an effective treatment of COVID-19, the anti-malarial drug, Hydroxychloroquine (HCQ) and chloroquine (CQ) were found and declared competent. However, despite its widespread use, data regarding their safety is relatively inadequate. In such a case, we must understand the mechanism of how they work, said the British Journal of Clinical Pharmacology. (Image: Reuters)
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