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10 things you need to know before the opening bell on November 14

Updated : 2019-11-14 08:19:45

Indian shares are likely to open marginally higher following mixed cues in the global markets. India’s October retail inflation data surpassed the RBI’s target, however, analysts still expect the central bank to cut rates due to signs of slowing economic activities. Asian shares traded in tight ranges as investors await China data and progress on US-China trade talks. At 7:50 AM, the SGX Nifty futures traded 0.16 percent up at 11,884.

1. Asia: Asian stocks clung to tight ranges on Thursday as investors awaited key Chinese data for clues on how much the 16-month trade war between Beijing and Washington has hit growth in the world's second-largest economy. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.01 percent. Australian shares were up 0.12 percent, while Japan's Nikkei stock index fell 0.02 percent. (Image: Reuters)
1. Asia: Asian stocks clung to tight ranges on Thursday as investors awaited key Chinese data for clues on how much the 16-month trade war between Beijing and Washington has hit growth in the world's second-largest economy. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.01 percent. Australian shares were up 0.12 percent, while Japan's Nikkei stock index fell 0.02 percent. (Image: Reuters)
2. US: The Dow Jones Industrial Average and the S&P 500 posted record closing highs on Wednesday helped by a big jump in Walt Disney shares, but the Nasdaq fell as stocks were kept in check by fresh uncertainty over U.S.-China trade relations. The three indexes had all drifted higher earlier in the day after Federal Reserve Chairman Jerome Powell said U.S. central bankers see a
2. US: The Dow Jones Industrial Average and the S&P 500 posted record closing highs on Wednesday helped by a big jump in Walt Disney shares, but the Nasdaq fell as stocks were kept in check by fresh uncertainty over U.S.-China trade relations. The three indexes had all drifted higher earlier in the day after Federal Reserve Chairman Jerome Powell said U.S. central bankers see a "sustained expansion" ahead for the country's economy. The Dow Jones Industrial Average rose 92.1 points, or 0.33 percent, to 27,783.59, the S&P 500 gained 2.2 points, or 0.07 percent, to 3,094.04 and the Nasdaq Composite dropped 3.99 points, or 0.05 percent, to 8,482.10. (Image: AP)
3. Markets At Close On Wednesday: Indian shares tumbled in the last hour of trade to end lower on Wednesday, weighed down by weak factory output data, gross domestic product (GDP) growth concerns, and a falling rupee, as investors awaited retail inflation data due later in the day. The Sensex ended 229 points lower at 40,116, while the broader Nifty50 index lost 73 points to settle at 11,840. Meanwhile, foreign institutional investors bought 585 crores in the cash market while domestic institutional investors sold 890 crores. (Image: Reuters)
3. Markets At Close On Wednesday: Indian shares tumbled in the last hour of trade to end lower on Wednesday, weighed down by weak factory output data, gross domestic product (GDP) growth concerns, and a falling rupee, as investors awaited retail inflation data due later in the day. The Sensex ended 229 points lower at 40,116, while the broader Nifty50 index lost 73 points to settle at 11,840. Meanwhile, foreign institutional investors bought 585 crores in the cash market while domestic institutional investors sold 890 crores. (Image: Reuters)
4. Crude Oil: Oil prices edged up on Wednesday on positive economic comments from U.S. Federal Reserve Chair Jerome Powell and the Organization of the Petroleum Exporting Countries (OPEC) ahead of a weekly report on U.S. stockpiles. Brent futures rose 31 cents, or 0.5 percent, to settle at $62.37 per barrel, while U.S. West Texas Intermediate crude gained 32 cents, or 0.6 percent, to settle at $57.12. (Image: Reuters)
4. Crude Oil: Oil prices edged up on Wednesday on positive economic comments from U.S. Federal Reserve Chair Jerome Powell and the Organization of the Petroleum Exporting Countries (OPEC) ahead of a weekly report on U.S. stockpiles. Brent futures rose 31 cents, or 0.5 percent, to settle at $62.37 per barrel, while U.S. West Texas Intermediate crude gained 32 cents, or 0.6 percent, to settle at $57.12. (Image: Reuters)
5. Currency: The rupee nosedived 62 paise to hit an over two-month low of 72.09 to the US dollar on Wednesday as poor macro data and lingering worries over US-China trade war weighed on sentiment. At the interbank foreign exchange, the rupee opened on a weak note at 71.75 against the US dollar. As the day progressed, it crashed below the 72-level and touched the day's low of 72.10. The Indian unit finally settled at 72.09 -- registering a fall of 62 paise over its previous close. This is the lowest closing level for the rupee since September 4. (Image: Reuters)
5. Currency: The rupee nosedived 62 paise to hit an over two-month low of 72.09 to the US dollar on Wednesday as poor macro data and lingering worries over US-China trade war weighed on sentiment. At the interbank foreign exchange, the rupee opened on a weak note at 71.75 against the US dollar. As the day progressed, it crashed below the 72-level and touched the day's low of 72.10. The Indian unit finally settled at 72.09 -- registering a fall of 62 paise over its previous close. This is the lowest closing level for the rupee since September 4. (Image: Reuters)
6. Retail Inflations Spikes Up: Retail inflation based on consumer price index (CPI) accelerated to 4.62 percent in October against 3.99 percent in September due to the high prices of food items, government data showed on Wednesday. On a year-on-year (YoY) basis, the inflation was 3.21 percent in October 2018. During the month, the prices of vegetables spiked to 26.10 percent from 5.40 percent in September, while for fruits it jumped to 4.08 percent from 0.83 percent. (Image: Reuters)
6. Retail Inflations Spikes Up: Retail inflation based on consumer price index (CPI) accelerated to 4.62 percent in October against 3.99 percent in September due to the high prices of food items, government data showed on Wednesday. On a year-on-year (YoY) basis, the inflation was 3.21 percent in October 2018. During the month, the prices of vegetables spiked to 26.10 percent from 5.40 percent in September, while for fruits it jumped to 4.08 percent from 0.83 percent. (Image: Reuters)
7. NCLAT On SEBI: The National Company Law Appellate Tribunal (NCLAT) on Wednesday granted the market regulator SEBI one
7. NCLAT On SEBI: The National Company Law Appellate Tribunal (NCLAT) on Wednesday granted the market regulator SEBI one "last chance" to file its reply on the revised share delisting norms for companies under insolvency. A two-member NCLAT bench headed by Chairperson Justice S J Mukhopadhaya has granted one day time to SEBI for filing of the affidavit and said that failing which, it will proceed ahead in the matter. "It is stated that the copy of the affidavit filed by SEBI has been served on the council for the parties. However, no such affidavit has been filed by SEBI in this appellate tribunal," said the NCLAT. "By way of last chance, one-day time is given to SEBI to file an affidavit, failing which the appeal may be disposed of on the basis of the record. (Image: Reuters)
8. Ministry of Finance On Rationalizing Taxes: In perhaps the first instance, the finance ministry has kicked off the exercise to formulate the next budget by seeking suggestions on changes in direct and indirect taxes from industry and trade associations. Finance Minister Nirmala Sitharaman is due to present the annual budget for the financial year 2020-21 on February 1. While the ministry holds pre-budget consultations with representatives of different sectors and stakeholders, the Department of Revenue in the finance ministry perhaps for the first time put out circular seeking suggestions for changes in income tax rates for both individuals and corporates as well as in indirect taxes such as excise and customs duty. The November 11 circular asked industry and trade associations to give
8. Ministry of Finance On Rationalizing Taxes: In perhaps the first instance, the finance ministry has kicked off the exercise to formulate the next budget by seeking suggestions on changes in direct and indirect taxes from industry and trade associations. Finance Minister Nirmala Sitharaman is due to present the annual budget for the financial year 2020-21 on February 1. While the ministry holds pre-budget consultations with representatives of different sectors and stakeholders, the Department of Revenue in the finance ministry perhaps for the first time put out circular seeking suggestions for changes in income tax rates for both individuals and corporates as well as in indirect taxes such as excise and customs duty. The November 11 circular asked industry and trade associations to give "suggestions for changes in the duty structure, rates and broadening of tax base on both direct and indirect taxes giving economic justification for the same." (Image: Reuters)
9. Government GIves Relief To Sugar Industry: As the Rs 15,000 crore soft loan scheme for sugar mills is moving at a snail's pace, the government has extended the moratorium period for repayments by six more months, according to sources. Now, the moratorium period is one-and-a-half years. A moratorium period is a time during the loan term when the borrower is not required to make any repayment. The Centre had announced the loan package in two tranches -- first in June 2018 amounting to Rs 4,440 crore and the other in March 2019 of Rs 10,540 crore. The objective was to help millers in clearing cane arrears and divert surplus sugar for ethanol manufacturing. A soft loan is a loan that is given at a subsidized interest rate. (Image: Reuters)
9. Government GIves Relief To Sugar Industry: As the Rs 15,000 crore soft loan scheme for sugar mills is moving at a snail's pace, the government has extended the moratorium period for repayments by six more months, according to sources. Now, the moratorium period is one-and-a-half years. A moratorium period is a time during the loan term when the borrower is not required to make any repayment. The Centre had announced the loan package in two tranches -- first in June 2018 amounting to Rs 4,440 crore and the other in March 2019 of Rs 10,540 crore. The objective was to help millers in clearing cane arrears and divert surplus sugar for ethanol manufacturing. A soft loan is a loan that is given at a subsidized interest rate. (Image: Reuters)
10. Government On Onion Imports: The Agriculture Ministry on Wednesday extended relaxed fumigation norms for imported onions up to December 31, in a bid to improve domestic supply and check prices that have skyrocketed up to Rs 100 per kg. On November 6, the ministry had liberalized fumigation provisions under the Plant Quarantine (PQ) Order, 2003 till November 30 to facilitate import of the key kitchen staple from Afghanistan, Egypt, Turkey, and Iran to boost availability and check price rise. In its latest order, the ministry has extended these relaxed provisions till December 31 for onion imports with some conditions. Traders who have imported onions without fumigation or having the endorsement of such treatment on the phytosanitary certificate (PSC) will be allowed to fumigate in India through an accredited treatment provider, it said. (Image: Reuters)
10. Government On Onion Imports: The Agriculture Ministry on Wednesday extended relaxed fumigation norms for imported onions up to December 31, in a bid to improve domestic supply and check prices that have skyrocketed up to Rs 100 per kg. On November 6, the ministry had liberalized fumigation provisions under the Plant Quarantine (PQ) Order, 2003 till November 30 to facilitate import of the key kitchen staple from Afghanistan, Egypt, Turkey, and Iran to boost availability and check price rise. In its latest order, the ministry has extended these relaxed provisions till December 31 for onion imports with some conditions. Traders who have imported onions without fumigation or having the endorsement of such treatment on the phytosanitary certificate (PSC) will be allowed to fumigate in India through an accredited treatment provider, it said. (Image: Reuters)
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