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

Updated : 2019-10-14 08:20:02

Indian shares are likely to open higher on Monday tracking gains in global markets following progress in the US-China trade negotiations. However, disappointing Q2 earnings from IT heavyweights and World Bank’s poor growth forecast for India may weigh on the equities. Asian shares rose after the US outlined the first phase of a deal to end a trade war with China and suspended a threatened tariff hike. At 7:31 AM, the SGX Nifty futures traded 24.50 points, or 0.22 percent, down at 11,284.50, indicating a positive start for the Sensex and the Nifty50.

1. Asia: Asian shares trade higher on Monday as investor sentiment improved following last week’s high-level trade negotiations between the United States and China. South Korea’s Kospi index gained 1.27 percent in early trade, with major chipmakers Samsung and SK Hynix advancing 2.14 percent and 1.5 percent, respectively. In Australia, the benchmark ASX 200 rose 0.83 percent, with most sectors notching gains. Markets in Japan are closed for a public holiday. (Image: Reuters)
1. Asia: Asian shares trade higher on Monday as investor sentiment improved following last week’s high-level trade negotiations between the United States and China. South Korea’s Kospi index gained 1.27 percent in early trade, with major chipmakers Samsung and SK Hynix advancing 2.14 percent and 1.5 percent, respectively. In Australia, the benchmark ASX 200 rose 0.83 percent, with most sectors notching gains. Markets in Japan are closed for a public holiday. (Image: Reuters)
2. US: Stocks rallied on Friday after President Donald Trump said China and the U.S. reached the first phase of a substantial trade deal that delays tariff hikes that were set to kick in next week. The Dow Jones Industrial Average surged 319.92 points, or 1.2 percent to close at 26,816.59, led by Apple which surged to an all-time high. The S&P 500 rose 1.1 percent to 2,970.27, while the Nasdaq Composite jumped 1.3 percent to 8,057.04. (Image: AP)
2. US: Stocks rallied on Friday after President Donald Trump said China and the U.S. reached the first phase of a substantial trade deal that delays tariff hikes that were set to kick in next week. The Dow Jones Industrial Average surged 319.92 points, or 1.2 percent to close at 26,816.59, led by Apple which surged to an all-time high. The S&P 500 rose 1.1 percent to 2,970.27, while the Nasdaq Composite jumped 1.3 percent to 8,057.04. (Image: AP)
3. Markets At Close On Friday: Indian shares rose on Friday, in line with their Asian peers, led by gains in IT, metal and auto stocks. The Sensex ended 247 points higher at 38,127, while the broader Nifty50 index added 70 points to end the day at 11,305. All sectoral indices, except the Nifty Media and the Nifty Private Bank, ended in green for the day. Meanwhile, foreign institutional investors bought 750 crores in the cash market while domestic institutional investors sold 703 crores on Friday. (Image: Reuters)
3. Markets At Close On Friday: Indian shares rose on Friday, in line with their Asian peers, led by gains in IT, metal and auto stocks. The Sensex ended 247 points higher at 38,127, while the broader Nifty50 index added 70 points to end the day at 11,305. All sectoral indices, except the Nifty Media and the Nifty Private Bank, ended in green for the day. Meanwhile, foreign institutional investors bought 750 crores in the cash market while domestic institutional investors sold 703 crores on Friday. (Image: Reuters)
4. Crude Oil Prices: Oil prices rose more than 2 percent on Friday after Iranian media said a state-owned oil tanker was attacked in the Red Sea near Saudi Arabia, while optimism surrounding the U.S.-China trade war lifted sentiment. Brent crude futures gained $1.41, or 2.4 percent, to settle at $60.51 a barrel. West Texas Intermediate (WTI) crude futures rose $1.15, or 2.2 percent, to settle at $54.70 a barrel. (Image: AP)
4. Crude Oil Prices: Oil prices rose more than 2 percent on Friday after Iranian media said a state-owned oil tanker was attacked in the Red Sea near Saudi Arabia, while optimism surrounding the U.S.-China trade war lifted sentiment. Brent crude futures gained $1.41, or 2.4 percent, to settle at $60.51 a barrel. West Texas Intermediate (WTI) crude futures rose $1.15, or 2.2 percent, to settle at $54.70 a barrel. (Image: AP)
5. World Bank On India's FY20 Growth: In a  major setback for India's economic outlook, a World Bank report on Sunday estimated India's economic growth in the current fiscal at 6 percent, lower than the Reserve Bank of India's latest revised outlook of 6.1 percent.
5. World Bank On India's FY20 Growth: In a  major setback for India's economic outlook, a World Bank report on Sunday estimated India's economic growth in the current fiscal at 6 percent, lower than the Reserve Bank of India's latest revised outlook of 6.1 percent. "In India, after the broad-based deceleration in the first quarters of this fiscal year, growth is projected to fall to 6.0 percent this fiscal year," said the report named "South Asia Economic Focus, Fall 2019: Making (De)centralization Work". It, however, said that growth is expected to gradually recover to 6.9 percent in fiscal year 2020 and to 7.2 percent in the following year. (Image: Reuters)
6. Finance Minister To Meet PSU Banks' CEOs: Finance Minister Nirmala Sitharaman will hold a review meeting with CEOs of public sector banks (PSBs) on Monday to discuss various issues, including progress on credit offtake, as part of efforts to prop up the economy. The meeting is expected to review fund flow to stressed non-banking finance companies (NBFC) and MSME (micro, small and medium enterprises) sectors, sources said. Banks are expected to present a report card on partial credit guarantee schemes and fundraising from the market to enhance their capital base. (Image: IANS)
6. Finance Minister To Meet PSU Banks' CEOs: Finance Minister Nirmala Sitharaman will hold a review meeting with CEOs of public sector banks (PSBs) on Monday to discuss various issues, including progress on credit offtake, as part of efforts to prop up the economy. The meeting is expected to review fund flow to stressed non-banking finance companies (NBFC) and MSME (micro, small and medium enterprises) sectors, sources said. Banks are expected to present a report card on partial credit guarantee schemes and fundraising from the market to enhance their capital base. (Image: IANS)
7. Factory Output Shrinks In August: India's industrial production growth slowed to -1.1 percent in August compared to 4.3 percent in July, lowest since February 2013, according to government data released on Friday. The Index of Industrial Production (IIP) had expanded by 4.8 percent in August 2018. The manufacturing sector, which contributes over 77 percent to the IIP, showed a decline of 1.2 percent in output during August 2019 as against a growth of 5.2 percent in the same month of last year. The overall IIP growth during the April-August period was 2.4 percent, down from 5.3 percent in the corresponding period of the last fiscal. (Image: Reuters)
7. Factory Output Shrinks In August: India's industrial production growth slowed to -1.1 percent in August compared to 4.3 percent in July, lowest since February 2013, according to government data released on Friday. The Index of Industrial Production (IIP) had expanded by 4.8 percent in August 2018. The manufacturing sector, which contributes over 77 percent to the IIP, showed a decline of 1.2 percent in output during August 2019 as against a growth of 5.2 percent in the same month of last year. The overall IIP growth during the April-August period was 2.4 percent, down from 5.3 percent in the corresponding period of the last fiscal. (Image: Reuters)
8. Government On Urea Import: The government on Friday said import of urea for industrial or non-agricultural use will be free from any restrictions. Earlier, it was allowed only with the actual user condition.
8. Government On Urea Import: The government on Friday said import of urea for industrial or non-agricultural use will be free from any restrictions. Earlier, it was allowed only with the actual user condition. "Import policy for urea for industrial or non-agricultural use, besides technical grade urea and industrial urea shall be free with immediate effect," the Directorate General of Foreign Tade said in a notification. It added that Rashtriya Chemicals and Fertilizers Ltd is designated as a state trading enterprise for the import of urea on government accounts. (Image: Reuters)
9. Banks Credit Growth Slips: For the first time this fiscal, bank credit growth slowed to single-digit, printing in at a low 8.79 percent at Rs 97.71 lakh crore in the fortnight to September 27, according the latest data from the Reserve Bank. In the year-ago fortnight, the advances had stood at Rs 89.82 lakh crore.  Deposits growth too slowed to 9.38 percent to Rs 129.06 lakh crore from Rs 118 lakh crore a year ago, the RBI said, adding deposits had grown 10.02 percent in the fortnight to September 13. (Image: Reuters)
9. Banks Credit Growth Slips: For the first time this fiscal, bank credit growth slowed to single-digit, printing in at a low 8.79 percent at Rs 97.71 lakh crore in the fortnight to September 27, according the latest data from the Reserve Bank. In the year-ago fortnight, the advances had stood at Rs 89.82 lakh crore.  Deposits growth too slowed to 9.38 percent to Rs 129.06 lakh crore from Rs 118 lakh crore a year ago, the RBI said, adding deposits had grown 10.02 percent in the fortnight to September 13. (Image: Reuters)
10. Passenger Vehicles Sales Drop: Passenger vehicle wholesales in India declined for the 11th consecutive month in September as the onset of the festive season failed to lift buyer sentiment and pull the industry out of a prolonged downturn, auto industry body SIAM said on Friday. According to the latest data by SIAM, passenger vehicle (PV) sales during September dropped by 23.69 percent to 2,23,317 units, down from 2,92,660 units in the year-ago period. Similarly, PV sales plummeted by 23.56 percent in the April-September period as compared with the same period last year. (Image: Reuters)
10. Passenger Vehicles Sales Drop: Passenger vehicle wholesales in India declined for the 11th consecutive month in September as the onset of the festive season failed to lift buyer sentiment and pull the industry out of a prolonged downturn, auto industry body SIAM said on Friday. According to the latest data by SIAM, passenger vehicle (PV) sales during September dropped by 23.69 percent to 2,23,317 units, down from 2,92,660 units in the year-ago period. Similarly, PV sales plummeted by 23.56 percent in the April-September period as compared with the same period last year. (Image: Reuters)
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