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10 things you need to know before the opening bell on September 26

Updated : 2019-09-26 07:33:22

Indian shares are expected to open marginally higher in line with global markets after US President Donald Trump said a trade deal with China is likely to happen soon. Rising oil prices and political uncertainties in the US may cap gains. At 7:20 AM, the SGX Nifty futures traded 24 points, or 0.21 percent, higher at 11,499, indicating a positive start for the Sensex and the Nifty.

1. Asia: Asian stocks edged up on Thursday as hopes that the United States and China may soon end their year-long trade war boosted demand for riskier assets while worries about a U.S. presidential impeachment bid ebbed, reported Reuters. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1 percent, Japan's Nikkei rose 0.45  percent, while Australian shares were up 0.13 percent. (Image: Reuters)
1. Asia: Asian stocks edged up on Thursday as hopes that the United States and China may soon end their year-long trade war boosted demand for riskier assets while worries about a U.S. presidential impeachment bid ebbed, reported Reuters. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1 percent, Japan's Nikkei rose 0.45  percent, while Australian shares were up 0.13 percent. (Image: Reuters)
2. US: The dollar rose and stocks on Wall Street lifted a gauge of global equities on Wednesday on robust US housing data and the notion a strong economy would overcome any investor skittishness over a possible impeachment of President Donald Trump, reported Reuters. The Dow Jones Industrial Average rose 162.94 points, or 0.61 percent, to 26,970.71. The S&P 500 gained 18.25 points, or 0.62 percent, to 2,984.85 and the Nasdaq Composite added 83.76 points, or 1.05 percent, to 8,077.38. (Image: AP)
2. US: The dollar rose and stocks on Wall Street lifted a gauge of global equities on Wednesday on robust US housing data and the notion a strong economy would overcome any investor skittishness over a possible impeachment of President Donald Trump, reported Reuters. The Dow Jones Industrial Average rose 162.94 points, or 0.61 percent, to 26,970.71. The S&P 500 gained 18.25 points, or 0.62 percent, to 2,984.85 and the Nasdaq Composite added 83.76 points, or 1.05 percent, to 8,077.38. (Image: AP)
3. Markets At Close On Wednesday: Indian shares ended lower on Wednesday, tracking broader Asia after the launch of a formal impeachment inquiry against US President Donald Trump, increasing the prospects of prolonged political uncertainty. The Sensex ended 504 points lower at 38,593, while the broader Nifty50 index lost 148 points to end the day at 11,440. Meanwhile, foreign institutional investors (FIIs) sold Rs 342 crore in the cash market and domestic institutional investors (DIIs) sold Rs 762 crore. The Indian rupee dipped 3 paise to close at 71.04 against the US dollar amid rising demand for the greenback vis-a-vis other currencies overseas, even as crude oil prices eased. (Image: Reuters)
3. Markets At Close On Wednesday: Indian shares ended lower on Wednesday, tracking broader Asia after the launch of a formal impeachment inquiry against US President Donald Trump, increasing the prospects of prolonged political uncertainty. The Sensex ended 504 points lower at 38,593, while the broader Nifty50 index lost 148 points to end the day at 11,440. Meanwhile, foreign institutional investors (FIIs) sold Rs 342 crore in the cash market and domestic institutional investors (DIIs) sold Rs 762 crore. The Indian rupee dipped 3 paise to close at 71.04 against the US dollar amid rising demand for the greenback vis-a-vis other currencies overseas, even as crude oil prices eased. (Image: Reuters)
4. Crude Oil: U.S. crude ticked up 0.27 percent to $56.64 a barrel, while Brent crude rose to 0.29 percent & $62.54 per barrel in a sign some investors anticipate higher demand for energy and fuel in the future due to stronger economic activity. (Image: Reuters)
4. Crude Oil: U.S. crude ticked up 0.27 percent to $56.64 a barrel, while Brent crude rose to 0.29 percent & $62.54 per barrel in a sign some investors anticipate higher demand for energy and fuel in the future due to stronger economic activity. (Image: Reuters)
5. SEBI Tells MFs To Adopt Waterfall Approach: In order to bring uniformity and consistency in valuation, market regulator Sebi has asked mutual fund houses to follow
5. SEBI Tells MFs To Adopt Waterfall Approach: In order to bring uniformity and consistency in valuation, market regulator Sebi has asked mutual fund houses to follow "waterfall" approach for the valuation of money market and debt securities. Under this approach, all traded securities would be valued on the basis of traded yields, subject to identification of outlier trades by the valuation agencies. Besides, the regulator has come out with a framework relating to valuation of inter-scheme transfers and barred the use of own trades for valuation. Further, the regulator said a money market or debt security will be classified as "below investment grade" if the long-term rating of the security issued by a credit rating agency (CRA) is below BBB- or if the short-term rating of the security is below A3. (Image: Reuters)
6. SEBI Relaxes FPI Norms: Easing the regulatory framework for foreign portfolio investors, Sebi has simplified KYC requirements for them and permitted them to carry out the off-market transfer of securities. Besides, the regulator has broad-based the classification for foreign portfolio investors (FPIs) and simplified their registration process. Under the new framework, FPIs would be classified into two categories instead of three. As per the new rule, the government and government-related investors such as central banks, sovereign wealth funds, international or multilateral organizations or agencies including entities controlled or at least 75 percent directly or indirectly owned by such government and government-related investor; pension and university funds would fall under the Category-I FPIs. (Image: Representational)
6. SEBI Relaxes FPI Norms: Easing the regulatory framework for foreign portfolio investors, Sebi has simplified KYC requirements for them and permitted them to carry out the off-market transfer of securities. Besides, the regulator has broad-based the classification for foreign portfolio investors (FPIs) and simplified their registration process. Under the new framework, FPIs would be classified into two categories instead of three. As per the new rule, the government and government-related investors such as central banks, sovereign wealth funds, international or multilateral organizations or agencies including entities controlled or at least 75 percent directly or indirectly owned by such government and government-related investor; pension and university funds would fall under the Category-I FPIs. (Image: Representational)
7. SEBI Floats Tighter Norms: Markets regulator Sebi has come out with new norms that make it mandatory for companies to provide details on delayed loan repayments and possible defaults to credit rating agencies amid concerns over banks citing 'client confidentiality' to resist sharing of such information by their borrowers. The new framework would enable credit rating agencies (CRAs) to get timely information on possible defaults. The move is aimed at helping the rating agencies better understand the rated entity's financial strength and incorporate the impact of these details in their ratings. Sebi has amended its regulations for credit rating agencies to ensure that any listed or unlisted entity, before getting rated, gives an explicit consent to obtain from their lenders and other entities full details about their existing and future borrowings as well. (Image: Reuters)
7. SEBI Floats Tighter Norms: Markets regulator Sebi has come out with new norms that make it mandatory for companies to provide details on delayed loan repayments and possible defaults to credit rating agencies amid concerns over banks citing 'client confidentiality' to resist sharing of such information by their borrowers. The new framework would enable credit rating agencies (CRAs) to get timely information on possible defaults. The move is aimed at helping the rating agencies better understand the rated entity's financial strength and incorporate the impact of these details in their ratings. Sebi has amended its regulations for credit rating agencies to ensure that any listed or unlisted entity, before getting rated, gives an explicit consent to obtain from their lenders and other entities full details about their existing and future borrowings as well. (Image: Reuters)
8. ICRA On State-Owned Banks: Rating agency ICRA on Wednesday said profitability and return on assets (RoA) of public sector banks (PSBs) are likely to remain low during the current financial year on the back of continued provisioning on existing and fresh bad loans. Provisioning on existing and fresh non-performing assets (NPAs) will consume majority of operating profits, ICRA said in a statement.
8. ICRA On State-Owned Banks: Rating agency ICRA on Wednesday said profitability and return on assets (RoA) of public sector banks (PSBs) are likely to remain low during the current financial year on the back of continued provisioning on existing and fresh bad loans. Provisioning on existing and fresh non-performing assets (NPAs) will consume majority of operating profits, ICRA said in a statement. "This would result in overall poor profitability and feeble return on equity (RoE) of less than 1 percent," it said. Private sector banks will also face another challenging year due to high credit cost and a muted RoE at 9-10 percent, notwithstanding 15-30 percent growth in their net profits during the current fiscal, it said. (Image: Reuters)
9. ADB Trims India's GDP Growth: The Asian Development Bank (ADB) on Wednesday sharply lowered India's growth forecast from 7.2 percent to 6.5 percent for the current fiscal, though has it indicated that the country will grow faster than China.
9. ADB Trims India's GDP Growth: The Asian Development Bank (ADB) on Wednesday sharply lowered India's growth forecast from 7.2 percent to 6.5 percent for the current fiscal, though has it indicated that the country will grow faster than China. "India's growth forecast for fiscal year 2019 is lowered to 6.5 percent after growth slowed markedly to 5 percent in the first quarter, April-June. Abrupt declines in manufacturing and investment reflect uncertainty ahead of general elections, subdued lending by banks and other financial institutions, stress in the rural economy, and a weakening external outlook," the agency said. (Company Image)
10. Amitabh Kant On India's Growth: The government is determined to take India back to a high trajectory growth rate of 8-9 percent and the real challenge before the country is to sustain that growth, NITI Aayog CEO Amitabh Kant said. His remarks come at a time when the government has taken several measures to boost the economy that has hit over six-year low of 5 percent.
10. Amitabh Kant On India's Growth: The government is determined to take India back to a high trajectory growth rate of 8-9 percent and the real challenge before the country is to sustain that growth, NITI Aayog CEO Amitabh Kant said. His remarks come at a time when the government has taken several measures to boost the economy that has hit over six-year low of 5 percent. "The government is determined to take India back to a high trajectory growth rate of 8-9 percent and the challenge before India is really to grow on a sustained basis of 8-9 percent per annum year after year for three decades or more," Kant said last evening. (Photo: IANS)
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