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10 things you need to know before the opening bell on August 13

Updated : 2020-08-13 08:09:16

The Indian market is likely to open higher on Thursday following gains in global markets as investors stateside seemed to shrug off uncertainty over a second coronavirus stimulus bill. At 7:50 am, the SGX Nifty traded 24.50 points higher at 11,319, indicating a positive start for the Sensex and the Nifty50.

1. Asia: Asia-Pacific markets jumped in early trade on Thursday, following a surge in the U.S. markets overnight as tech stocks rallied. Japan’s Nikkei 225 bounced 1.58 percent, while the Topix was also up 1.09 percent. Auto and tech stocks jumped in early trading. Softbank was up 2.87%, while Sony rose 2.84 percent. South Korea’s Kospi rose 0.83 percent. In Australia the S&P/ASX 200 was up 0.18 percent, reported CNBC International. (Image: Reuters)
1. Asia: Asia-Pacific markets jumped in early trade on Thursday, following a surge in the U.S. markets overnight as tech stocks rallied. Japan’s Nikkei 225 bounced 1.58 percent, while the Topix was also up 1.09 percent. Auto and tech stocks jumped in early trading. Softbank was up 2.87%, while Sony rose 2.84 percent. South Korea’s Kospi rose 0.83 percent. In Australia the S&P/ASX 200 was up 0.18 percent, reported CNBC International. (Image: Reuters)
2. US: Futures contracts tied to the major U.S. stock indexes inched higher in extended trading Wednesday evening, hours after the S&P 500 flirted with, but fell just short of, a new record close.Dow Jones Industrial Average futures rose 45 points, implying an opening move just above the flatline when regular trading resumes. S&P 500 futures also gained, but pointed to an opening trade around the flatline. Nasdaq-100 futures indicated a slightly lower opening trade, reported CNBC International. (image: AP)
2. US: Futures contracts tied to the major U.S. stock indexes inched higher in extended trading Wednesday evening, hours after the S&P 500 flirted with, but fell just short of, a new record close.Dow Jones Industrial Average futures rose 45 points, implying an opening move just above the flatline when regular trading resumes. S&P 500 futures also gained, but pointed to an opening trade around the flatline. Nasdaq-100 futures indicated a slightly lower opening trade, reported CNBC International. (image: AP)
3. Market At Close On Wednesday: The Indian benchmark indices, Sensex and Nifty, ended marginally lower Wednesday, snapping six-day gaining streak, as selling in metals and pharma stocks dragged while mounting uncertainties about US stimulus dented global risk appetite. The Sensex ended 37.38 points or 0.10 percent lower at 38,369.63 while the Nifty fell 14.10 points or 0.12 percent to settle at 11,308.40. Broader indices outperformed the benchmarks as Nifty Smallcap100 and Nifty Midcap100 indices ended 0.41 and 0.07 percent higher, respectively. (Image: Reuters)
3. Market At Close On Wednesday: The Indian benchmark indices, Sensex and Nifty, ended marginally lower Wednesday, snapping six-day gaining streak, as selling in metals and pharma stocks dragged while mounting uncertainties about US stimulus dented global risk appetite. The Sensex ended 37.38 points or 0.10 percent lower at 38,369.63 while the Nifty fell 14.10 points or 0.12 percent to settle at 11,308.40. Broader indices outperformed the benchmarks as Nifty Smallcap100 and Nifty Midcap100 indices ended 0.41 and 0.07 percent higher, respectively. (Image: Reuters)
4. Crude Oil: Crude prices rose more than 2 percent on Wednesday after government data showed U.S. oil inventories fell across the board, bolstering hopes that fuel demand in the world’s biggest economy will withstand the coronavirus pandemic. Brent crude was up 95 cents, or 2.1 percent, at $45.44 a barrel, after falling around 1 percent on Tuesday. West Texas Intermediate oil gained $1.06, or 2.55 percent, to settle at $42.67 per barrel, having dropped 0.8 percent in the previous session, reported CNBC International. (Image: Reuters)
4. Crude Oil: Crude prices rose more than 2 percent on Wednesday after government data showed U.S. oil inventories fell across the board, bolstering hopes that fuel demand in the world’s biggest economy will withstand the coronavirus pandemic. Brent crude was up 95 cents, or 2.1 percent, at $45.44 a barrel, after falling around 1 percent on Tuesday. West Texas Intermediate oil gained $1.06, or 2.55 percent, to settle at $42.67 per barrel, having dropped 0.8 percent in the previous session, reported CNBC International. (Image: Reuters)
5. Rupee Close: The Indian currency ended little changed on Wednesday amidst volatile equity market. The rupee ended 5 paise lower to 74.83 against the US dollar. Forex traders said, rupee traded in a narrow range as muted domestic equities and weak Index of Industrial Production (IIP) data weighed on investor sentiment, while sustained foreign fund inflows supported the rupee and restricted the fall. (Image: CNBC-TV18)
5. Rupee Close: The Indian currency ended little changed on Wednesday amidst volatile equity market. The rupee ended 5 paise lower to 74.83 against the US dollar. Forex traders said, rupee traded in a narrow range as muted domestic equities and weak Index of Industrial Production (IIP) data weighed on investor sentiment, while sustained foreign fund inflows supported the rupee and restricted the fall. (Image: CNBC-TV18)
6. Finance Ministry: The finance ministry is flooded with requests seeking an urgent clarification on the recent order of restrictions on public procurement on companies, which are 100 percent subsidiaries of Hong Kong-registered companies but in turn are 100 percent owned by European or USA entities. As per the order, any bidder from such countries, that share a land border with India, are now not eligible to bid in any procurement whether of goods, services (including consultancy services and non-consultancy services) or works (including turnkey projects) if the bidder is a company incorporated or registered in such country. (File Photo: IANS)
6. Finance Ministry: The finance ministry is flooded with requests seeking an urgent clarification on the recent order of restrictions on public procurement on companies, which are 100 percent subsidiaries of Hong Kong-registered companies but in turn are 100 percent owned by European or USA entities. As per the order, any bidder from such countries, that share a land border with India, are now not eligible to bid in any procurement whether of goods, services (including consultancy services and non-consultancy services) or works (including turnkey projects) if the bidder is a company incorporated or registered in such country. (File Photo: IANS)
7. Trump On H-1B Visa: The Trump administration has announced some relaxations for the H-1B visa holders. According to them, the visa holders will be allowed to enter the US if they are returning to the same jobs they had prior to the proclamation of the visa ban. The US Department of State advisory said dependents (spouses and children) will also be allowed to travel along with primary visa holders. Technical specialists, senior-level managers, and other workers who hold H-1B visas will be allowed to enter US. (Image: Reuters)
7. Trump On H-1B Visa: The Trump administration has announced some relaxations for the H-1B visa holders. According to them, the visa holders will be allowed to enter the US if they are returning to the same jobs they had prior to the proclamation of the visa ban. The US Department of State advisory said dependents (spouses and children) will also be allowed to travel along with primary visa holders. Technical specialists, senior-level managers, and other workers who hold H-1B visas will be allowed to enter US. (Image: Reuters)
8. Jewellery Exports Dip 38% In July: The country's gem and jewellery exports contracted by 38.10 per cent in July to USD 1.35 billion (around Rs 10,185 crore) due to weak global demand on account of the COVID-19 pandemic, according to the Gems and Jewellery Export Promotion Council (GJEPC). The exports stood at USD 2.2 billion (around Rs 15,112 crore) in July last year. The labour-intensive sector contributes about 15 per cent of the country's overall exports. GJEPC chairman Colin Shah had recently stated that there was a steady decline in exports as the demand has been going down following global economic slowdown and several restrictions in many countries to curb the spread of coronavirus pandemic. (Stock Image)
8. Jewellery Exports Dip 38% In July: The country's gem and jewellery exports contracted by 38.10 per cent in July to USD 1.35 billion (around Rs 10,185 crore) due to weak global demand on account of the COVID-19 pandemic, according to the Gems and Jewellery Export Promotion Council (GJEPC). The exports stood at USD 2.2 billion (around Rs 15,112 crore) in July last year. The labour-intensive sector contributes about 15 per cent of the country's overall exports. GJEPC chairman Colin Shah had recently stated that there was a steady decline in exports as the demand has been going down following global economic slowdown and several restrictions in many countries to curb the spread of coronavirus pandemic. (Stock Image)
9. Report Says PM to Roll Out Another Set of Measures: Amid the economic fallout caused due to the coronavirus outbreak, the government may soon roll out another set of stimulus measures and Prime Minister Narendra Modi himself will unveil these steps, a report said. Quoting sources, Economic Times reported that the government is likely to announce fresh measures which may including big-ticket infrastructure projects and policy changes, to make local industry more competitive, as part of efforts to rebuild the economy. These steps could also include an initiative to reorient the tax administration and the measures could be announced as early as August 13, the report added. (Image: PTI)
9. Report Says PM to Roll Out Another Set of Measures: Amid the economic fallout caused due to the coronavirus outbreak, the government may soon roll out another set of stimulus measures and Prime Minister Narendra Modi himself will unveil these steps, a report said. Quoting sources, Economic Times reported that the government is likely to announce fresh measures which may including big-ticket infrastructure projects and policy changes, to make local industry more competitive, as part of efforts to rebuild the economy. These steps could also include an initiative to reorient the tax administration and the measures could be announced as early as August 13, the report added. (Image: PTI)
10. CCPA On Tea Import: The Consultative Committee of Plantation Associations (CCPA), the apex body of tea associations in India, has urged Union Commerce Minister Piyush Goyal not to reduce import duty on tea as any move in that direction will disturb the equilibrium of the industry. CCPA chairman Vivek Goenka in a letter to Goel said that any such move will lead to erosion of domestic prices and subsequently affect the economic viability of the tea gardens and livelihood of lakhs of people. According to CCPA, reduction in import duty, now 100 percent, will pave the way for cheap tea to flood the market which will have disastrous effect on prices. (Image: Reuters)
10. CCPA On Tea Import: The Consultative Committee of Plantation Associations (CCPA), the apex body of tea associations in India, has urged Union Commerce Minister Piyush Goyal not to reduce import duty on tea as any move in that direction will disturb the equilibrium of the industry. CCPA chairman Vivek Goenka in a letter to Goel said that any such move will lead to erosion of domestic prices and subsequently affect the economic viability of the tea gardens and livelihood of lakhs of people. According to CCPA, reduction in import duty, now 100 percent, will pave the way for cheap tea to flood the market which will have disastrous effect on prices. (Image: Reuters)
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