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    10 things you need to know before the opening bell on May 22

    10 things you need to know before the opening bell on May 22

    10 things you need to know before the opening bell on May 22
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    By CNBCTV18.com  IST (Published)

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    The Indian market is likely to open lower Friday following losses in Asian peers amid weak global cues. However, hopes of some major announcements by the RBI Governor Shaktikanta Das may support sentiment. At 8:05 am, the SGX Nifty was trading 32.40 points or 0.36 percent lower at 9,033.80, indicating a negative start for the Sensex and Nifty50.

    A woman walks past an electric screen showing world markets indices outside a brokerage in Tokyo, Japan, July 1, 2019. REUTERS/Issei Kato
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    1. Asia: Stocks in Asia were little changed in Friday morning trade as tensions between China and the US rise. In Japan, the Nikkei 225 dipped slightly in early trade while the Topix index was flat. Over in South Korea, the Kospi was also unchanged. Shares in Australia also trade close to the flatline, with the S&P/ASX 200 little changed. Overall, the MSCI Asia ex-Japan index traded slightly lower. (Image: Reuters)

    US stock market, Wall Street
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    2. Wall Street: US stocks ended lower on Thursday on a fresh wave of China-US tensions that raised doubts about the trade deal reached early this year between the world's two largest economies. On Wall Street, the Dow Jones Industrial Average fell 101.78 points, or 0.41 percent, to 24,474.12. The S&P 500 lost 23.1 points, or 0.78 percent, to 2,948.51 and the Nasdaq Composite dropped 90.90 points, or 0.97 percent, to 9,284.88. (Image: AP)

    India stock market, Sensex, Nifty
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    3. Market At Close On Thursday: Indian shares rose on Thursday after encouraging corporate earnings reports and as the government said it plans to ease curbs on air travel, in a further relaxation of a weeks-long coronavirus lockdown that has bruised the economy. The Sensex ended 114 points higher at 30,933, while Nifty rose 40 points to settle at 9,106. Gains were led by auto, FMCG and metal stocks. (Image: Reuters)

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    4. Crude Oil: Oil prices rose to the highest level since March on Thursday, supported by lower U.S. crude inventories, OPEC-led supply cuts and recovering demand as governments ease restrictions imposed on people’s movements due to the coronavirus crisis. Brent rose 31 cents, or 0.87 percent, to settle at $36.06 per barrel, while West Texas Intermediate crude gained 43 cents, or 1.28 percent, to settle at $33.92 per barrel. (Image: Reuters)

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    5. Rupee Close: The rupee rose by 19 paise to close at 75.61 against the US currency on Thursday on dollar selling by banks following gains in equities and weakness in the greenback. The gradual reopening of the economic activities including air and rail travel bolstered the rupee sentiment, forex dealers said. At the interbank foreign exchange, the rupee opened strong at 75.70 gained further to finally settled at 75.61, registering a rise of 19 paise over its previous close. (Image: Reuters)

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    6. RBI Governor Shaktikanta Das to address: The Reserve Bank of India (RBI) Governor Shaktikanta Das will address media today at 10 am. This will be the third presser of the RBI governor on the central bank's measures to address COVID-19 crisis. The press briefing comes after the government gave details of the Rs 20 lakh crore stimulus package. (Image: PTI)

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    7. NK Singh Says Return To Fiscal Trajectory May Pose Challenges: Chairman of the 15th Finance Commission NK Singh on Thursday said it could be tough for the central and state governments to return to the path of fiscal consolidation. “Return to fiscal trajectory may pose challenges” Singh told reporters after the first meeting of the Commission’s committee on fiscal issues.“.....There are huge uncertainties on key macro-economic variables. We will wait for Q4 and Q1 data to capture the impact of the lockdown and make any assessment of the medium term fiscal path, 7%-8% growth is critical for moving to a more sustainable debt trajectory,” Singh added. (Image: CNBC-TV18)

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    8. Cabinet Clears Rs 10,000 Crore Scheme For Micro Food Units: The government has started taking action over the stimulus announcement made by Finance Minister Nirmala Sitharaman last week. The cabinet has approved a Rs 10,000 crore back-ended credit linked subsidy scheme to provide credit to about 2 lakh micro food enterprises across the country. Under the scheme, micro food units will get a 35 percent subsidy with a ceiling of up to Rs 10 lakh on total project cost, beneficiaries would have to contribute at least 10 percent of the project cost, while the balance will come from loans. (Image: Reuters)

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    9. Government Disallows Global Tender For Procurement: The government has notified amendments to General Financial Rules (GFR) to ensure that goods and services valued less than Rs 200 crore are being procured from domestic firms, a move which will benefit MSMEs. "Govt has notified the amendments to the General Financial Rules 2017 to ensure that henceforth global tenders will be disallowed in government procurement up to Rs 200 crore, as announced in the #AatmanirbharBharat Package. A big boost to domestic suppliers, especially MSMEs, the Office of Finance Minister Nirmala Sitharaman said in a tweet. (Image: Reuters)

    Uttar Pradesh state Chief Minister Yogi Adityanath, arrives on the eve of the Basant Panchami festival in Prayagraj, India, Wednesday, Jan. 29, 2020. (AP Photo/Rajesh Kumar Singh)
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    10. Yogi Adityanath Sets Up Rs 218 Crore Fund: Uttar Pradesh Chief Minister Yogi Adityanath on Thursday set up a revolving fund of Rs 218.49 crore for over 35,000 families to promote self-employment. This fund under the Rural Livelihood Mission, will help those engaged in sewing, embroidery, production of disposable plates, spices, masks, an official spokesman said. The purpose of the revolving fund is to promote self-employment and self-reliance in rural areas, the spokesman said, adding that on the occasion, the chief minister also interacted with migrant workers and women of self-help groups from different districts through video conferencing. (Image:AP)

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