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    10 things you need to know before the opening bell on July 2

    10 things you need to know before the opening bell on July 2

    10 things you need to know before the opening bell on July 2
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    By CNBCTV18.com  IST (Published)

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    The Indian market is likely to open higher on Thursday tracking gains in Asian peers that rose on positive news overnight around the development of a potential coronavirus vaccine. At 7:00 am, the SGX Nifty was trading 17.05 points or 0.16 percent higher at 10,461.30, indicating a positive start for the Sensex and Nifty50.

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    1. Asia: Stocks in Asia Pacific rose in Thursday morning trade following positive news overnight around the development of a potential coronavirus vaccine. In Japan, the Nikkei 225 rose 0.39 percent in early trade. The Topix index also added 0.63 percent. South Korea’s Kospi gained 0.78 percent. Meanwhile, Australia’s S&P/ASX 200 rose 0.44 percent. Overall, the MSCI Asia ex-Japan index traded 0.16 percent higher. (Image: AP)

    Stock traders wear New Year's 2020 party glasses at New York Stock Exchange, Tuesday, Dec. 31, 2019. Stocks slipped globally in quiet New Year's Eve trading Tuesday with many markets closed. Wall Street could close 2019 with back-to-back daily losses in a year that the U.S. posted the largest market gains since 2013. (AP Photo/Mark Lennihan)
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    2. US: Futures contracts tied to the major U.S. stock indexes held steady Wednesday evening as investors looked ahead to two jobs reports on Thursday, the week’s final day of trading. Dow Jones Industrial Average futures slipped 13 points, suggesting an opening fall of 0.2 percent when regular trading resumes on Thursday. S&P 500 futures pointed to a similar opening decline of about 0.15 percent while Nasdaq-100 futures indicated an open around flatline. (Image:AP)

    Bajaj Finance, Bajaj Finance share price, Bajaj Finance share price target, Sharekhan Bajaj Finance report, Bajaj Finance third quarter result, Bajaj Finance long term stock price target, Bajaj Finance news, senex, nifty, NBFC stocks, consumer finance company shares
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    3. Market At Close On Wednesday: The Indian equity benchmark indices ended the trading session with gains after sluggish opening on Wednesday supported by PSU banks. At close, the Sensex ended 498.65 points or 1.43 percent at 35,414.45 while the Nifty50 ended at 10,430.05, 127.95 points or 1.24 percent. Axis Bank, Bajaj Finserv, UPL, HDFC and Bajaj Finance were the Nifty50 top gainers of the day while NTPC, Nestle India, Cipla, L&T and M&M remained the index top losers. Image: Reuters)

    Saudi Arabia
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    4. Crude Oil: Oil prices rose about 1 percent on Wednesday following a drawdown in U.S. crude inventories from record highs and a string of positive manufacturing data, but a surge in coronavirus cases tempered gains. Brent crude rose 67 cents, or 1.5 percent, to $41.90 a barrel. West Texas Intermediate crude rose 44 cents, or 1.1 percent, to $39.73 a barrel. (Image:AP)

    Indian rupee
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    5. Indian Rupee: The rupee on Wednesday settled 9 paise lower at 75.60 (provisional) against the US dollar as concerns over rising COVID-19 cases weighed on investor sentiment even as the domestic equity market was trading in the positive territory. At the interbank forex market, the rupee opened at 75.49 against the US dollar, but lost ground and ended the day at 75.60 against the US dollar, down 9 paise over its last close. It had settled at 75.51 against the US dollar on Tuesday. (Image: Reuters)

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    6. SEBI Issues SoP To Deal With Possible Defaults: Sebi on Wednesday came out with a set of standard operating procedures for stock exchanges, clearing corporations and depositories to deal with possible defaults by trading or clearing members. The framework, which will come into force from August 1, is aimed at protecting the interest of non-defaulting clients of trading members or clearing members in the likely event of default by trading member or clearing member. The regulator also said the SoP has been prepared in order to harmonise and ensure uniformity in the action amongst all the stock exchanges, clearing corporations and depositories in a time-bound manner. (Image: Reuters)

    GST filing
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    7. Relief In June As GST Collection Hits Rs 90,000 crore: As, the goods and services tax, completes 3 years of the roll-out, the GST revenue collection for June 2020 came in at about Rs 90,917 crore. Of this, CGST is Rs 18,980 crore, SGST is Rs 23,970 crore, IGST is Rs 40,302crore (including Rs. 15,709 crore collected on import of goods) and Cess is Rs7,665 crore (including Rs 607 crore collected on import of goods), said the government press release. For the first quarter, that is GST collections recorded between April 1 – June 30 (10 am) stand at Rs 1,85,220 crore, June collections were Rs 90,917 crore, for May GST collections were Rs 62,009 crore and for April, they were Rs 32,294 crore. (Representational Image)

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    8. World Bank To Give Support To MSMEs: The World Bank on Wednesday said it will give a USD 750 million-budget support to 15 crore MSMEs to increase liquidity access for viable small businesses impacted by COVID-19. During the 2020 fiscal (July 2019-June 2020), World Bank has extended USD 5.13 billion loans to India-- which is the highest in a decade. This includes USD 2.75 billion given in three months in response to the COVID-19 pandemic. World Bank Country Director in India Junaid Ahmad said this funding is under the multilateral lender's Development Policy Law, which is a direct budget support. (Image: Reuters)

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    9. India's Factory Activity  Contracts: India's manufacturing activity contracted for a third straight month in June, albeit at a much shallower pace, as demand and output continued to suffer from three months of lockdowns to quell the spread of the coronavirus, a private survey showed. "India's manufacturing sector moved towards stabilisation in June, with both output and new orders contracting at much softer rates than seen in April and May. However, the recent spike in new coronavirus cases and the resulting lockdown extensions have seen demand continue to weaken," noted Eliot Kerr, an economist at IHS Markit. (Image: Reuters)

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    10. Report Says Indian Banks To Face Asset Quality Stress For 2 Years: Indian banks may continue to face heightened asset quality and earning pressure for at least two years, as disruption to business activity and supply chains and shrinking personal incomes damage banks' balance sheets, according to a report by Fitch Ratings. "Bank balance sheets are yet to feel the impact of India's strict lockdown measures that were implemented by the government from March 25. Moreover, a meaningful short-term recovery looks unlikely, as the acceleration of new COVID-19 cases threatens the gradual reopening of the economy," it said. (Image: Reuters)

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