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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 CNBC-TV18 Jul 2, 2019 8:03:16 AM IST (Updated)

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SUMMARY

Indian benchmark indices BSE Sensex and NSE's Nifty50 are likely to open little changed on Tuesday, tracking muted trends in global markets. Asian shares traded mixed after disappointing PMI data. Meanwhile, US stocks hit record highs in the previous session following progress in US-China trade negotiations. Indian markets have turned cautious ahead of the Union Budget to be presented in the Parliament on July 5. At 7.00 AM, the SGX Nifty futures traded 9 points, or 0.08 percent, higher indicating a flat start for the Nifty 50 and the Sensex.

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1. Asia shares traded mixed with Japan's Nikkei rising 0.10 percent and South Korea's Kospi edging lower 0.09 percent. (Image: Reuters)

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2. US: US markets surged after North Korean leader Kim Jong Un and US President Donald Trump agreed at their meeting on Sunday to push forward dialogue for making a new breakthrough in the denuclearisation of the Korean peninsula. The Dow Jones Industrial Average rose 117.47 points, or 0.44 percent, to 26,717.43, the S&P 500 gained 22.57 points, or 0.77 percent, to 2,964.33 and the Nasdaq Composite added 84.92 points, or 1.06 percent, to 8,091.16. (Image: Reuters)

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3. Markets At Close On Tuesday: Indian equity benchmark indices closed higher on Monday, in line with broader Asian peers after the US and China agreed to restart trade talks, boosting risk appetite. The broader NSE Nifty50 closed 0.65 percent higher at 11,865.60, while the benchmark 30-share BSE index settled 0.74 percent firmer at 39,686.50. The rupee closed at Rs 68.94 against the US dollar, 0.10 percent lower on Monday. Meanwhile, foreign institutional investors (FIIs) bought shares worth Rs 427 crore on a net basis in the cash market, while domestic institutional investors (DIIs) sold shares worth Rs 51 crore. (Image: Reuters)

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4. Crude Oil: Oil prices slipped on Tuesday as worries that a weakening global economy would dent demand for the commodity outweighed OPEC's decision to extend supply cuts until next March. Brent crude futures for September delivery had dropped 33 cents, or 0.5 percent, to $64.73 a barrel by 0034 GMT. US crude futures for August had fallen 48 cents, or 0.8 percent, to $58.61 a barrel. (Image: Reuters)

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5. Nirmala Sitharaman: The government is considering strengthening the Reserve Bank's regulatory and supervisory powers over the non-banking finance companies (NBFCs), Finance Minister Nirmala Sitharaman said in the Lok Sabha on Monday. Replying to a question, the minister said RBI was closely monitoring the liquidity position of NBFCs and will continue to monitor the activity and performance of the sector with a focus on major entities and their interlinkages with other sectors. The central bank, she added, has also informed that with a view to strengthen the NBFCs and maintain stability of the financial system, it has been taking necessary regulatory and supervisory steps. (Image: Reuters)

The Securities and Exchange Board of India is to felicitate producer participation on the exchange and has allowed levying a nominal fee of Rs. 1 lakh per exchange overcharging on turnover slab rates. The exchanges dealing with agri-commodity derivatives would create a separate fund earmarked for the benefit of farmers and farmer’s producer's organisations in which the fee by SEBI would be deposited. The exchange needs to draw an action plan for the fund for full utilisation of foregone fee in any financial year during the succeeding year. The action plan is expected to be drawn by the 10th of April and facilities like wavier or subsidy in warehousing charges, reimbursement of cost bags provided to farmers for deposits on the exchange platform and subsidising of broker fee for farmers could be considered by the exchanges for preparing an action plan.
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6. ATF And LPG Prices: Jet fuel price was on Monday cut by a steep 5.8 percent to a four-month low on softening international oil prices, according to state-owned fuel retailers. In Mumbai, home to country's busiest airport, ATF price was cut to Rs 61,199.79 per kl from Rs 64,946.04 per kl, according to a price notification issued by oil companies. Simultaneously, oil firms also cut the price of cooking gas LPG. In Mumbai, the subsidised 14.2-kg bottle will cost Rs 492.04 as compared to Rs 495.09 till Sunday. (Image: Reuters)

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7. Sugar Output: India's sugar production is estimated to decline 14 percent to 28.2 million tonne in the next marketing year starting October, mainly due to fall in sugarcane acreage due to less rains in states like Maharashtra and Karnataka, according to industry body ISMA. Sugar output is likely to be at 32.95 million tonne (MT) in the current 2018-19 marketing year (October-September), Indian Sugar Mills Association (ISMA) said in a statement. Mills have produced 32.8 MT of sugar till June and another 0.1-0.15 MT is expected during the next three months, taking the total output to 32.9-32.95 MT. The annual domestic demand is around 26.5 MT. (Image: Reuters)

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8. GST Collections In June: In signs of sluggish momentum in tax collections, Goods and Services Tax (GST) receipts in June fell to Rs 99,939 crore, down from over Rs 1 lakh crore in the previous month, the finance ministry said. While the GST collections in June were lower than Rs 1,00,289 crore in May, they were higher than Rs 95,610 crore receipts in the same month of the previous year. The collections comprise of receipts by both the centre and state governments of GST, which had two years back amalgamated 17 different indirect tax levies. (Image: Reuters)

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9. Unclaimed Bank Deposits: Unclaimed deposits in the banking system have witnessed a jump of 26.8 per cent to Rs 14,578 crore in 2018, Parliament was informed on Monday.
The unclaimed deposits rose to Rs 11,494 crore in 2017 from Rs 8,928 crore in 2016, Finance Minister Nirmala Sitharaman said in a written reply to the Lok Sabha. State Bank of India (SBI) alone had an unclaimed deposit of Rs 2,156.33 crore at the end of 2018, she said. (Image: Reuters)

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10. Housing Prices Growth: The growth in housing prices moderated during the January-March quarter of last fiscal to 3.6 per cent, according to RBI data. The Reserve Bank of India on Monday released the quarterly house price index (HPI) for January-March quarter of 2018-19 based on transaction data received from housing registration authorities in ten major cities (Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow and Mumbai). (stock image)

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