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10 things you need to know before the opening bell on September 11

Updated : 2019-09-11 07:08:44

Indian shares are set to open higher on Wednesday, in line with its global peers, as hopes of diminishing US-China tensions and rate cuts by major central banks provided some support to investors. The anticipation of more policy initiatives from the government to arrest demand slowdown also remains the key reason behind the rally in the Indian market. At 07:00 AM, the SGX Nifty Futures traded higher by 0.49 percent, or 54 points, at 11,025, indicating a positive start for the Sensex and the Nifty.

1. Asia: Asian stock markets held firm and bond yields rose on Wednesday as hopes of diminishing U.S.-China tensions and reduced risk of no-deal Brexit prompted investors to take profit in risk-off trade ahead of key central bank policy meetings. In early trade, MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.10 percent while Japan's Nikkei rose 0.32 percent. (Image: Reuters)
1. Asia: Asian stock markets held firm and bond yields rose on Wednesday as hopes of diminishing U.S.-China tensions and reduced risk of no-deal Brexit prompted investors to take profit in risk-off trade ahead of key central bank policy meetings. In early trade, MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.10 percent while Japan's Nikkei rose 0.32 percent. (Image: Reuters)
2. US: The S&P 500 ended little changed on Tuesday, with a rally in energy and industrial shares countering a drop in the technology and real estate sectors as investors favoured value over growth. Industrials pulled the blue-chip Dow slightly higher and led the bellwether S&P 500's nominal advance, while the tech-heavy Nasdaq posted its third straight decline.  The Dow Jones Industrial Average rose 73.92 points, or 0.28 percent, to 26,909.43, the S&P 500 gained 0.96 points, or 0.03 percent, to 2,979.39 and the Nasdaq Composite dropped 3.28 points, or 0.04 percent, to 8,084.16. (Image: AP)
2. US: The S&P 500 ended little changed on Tuesday, with a rally in energy and industrial shares countering a drop in the technology and real estate sectors as investors favoured value over growth. Industrials pulled the blue-chip Dow slightly higher and led the bellwether S&P 500's nominal advance, while the tech-heavy Nasdaq posted its third straight decline.  The Dow Jones Industrial Average rose 73.92 points, or 0.28 percent, to 26,909.43, the S&P 500 gained 0.96 points, or 0.03 percent, to 2,979.39 and the Nasdaq Composite dropped 3.28 points, or 0.04 percent, to 8,084.16. (Image: AP)
3. Markets At Close On Monday: Indian equities gained for the 4th straight day on Monday, in line with gains in broader Asia, as US-China trade tensions eased. The gains were led by banking as Nifty Bank jumped over 500 points from lows. The Sensex ended 163.68 points higher at 37,145.45, while the broader Nifty50 index added 56.85 points to end the day at 11,003.05. Meanwhile, foreign institutional investors sold Rs 188 crore in the cash market while domestic institutional investors bought Rs 686 crore. The rupee settled at 71.70 against the US dollar. (Image: Reuters)
3. Markets At Close On Monday: Indian equities gained for the 4th straight day on Monday, in line with gains in broader Asia, as US-China trade tensions eased. The gains were led by banking as Nifty Bank jumped over 500 points from lows. The Sensex ended 163.68 points higher at 37,145.45, while the broader Nifty50 index added 56.85 points to end the day at 11,003.05. Meanwhile, foreign institutional investors sold Rs 188 crore in the cash market while domestic institutional investors bought Rs 686 crore. The rupee settled at 71.70 against the US dollar. (Image: Reuters)
4. Crude Oil: Oil prices rose on Wednesday after an industry report showed that crude stockpiles in the U.S. fell last week by more than twice the amount that analysts had forecast. Brent crude futures rose 43 cents, or 0.7 percent, to $62.81 a barrel by 0053 GMT, while WTI futures were up 47 cents, or 0.8 percent, to $57.87 a barrel. (Image: Reuters)
4. Crude Oil: Oil prices rose on Wednesday after an industry report showed that crude stockpiles in the U.S. fell last week by more than twice the amount that analysts had forecast. Brent crude futures rose 43 cents, or 0.7 percent, to $62.81 a barrel by 0053 GMT, while WTI futures were up 47 cents, or 0.8 percent, to $57.87 a barrel. (Image: Reuters)
5. India Ratings On NBFCs: The year-long liquidity pains of shadow bankers are set to linger on through the rest of the fiscal year at least given the deepening slump in the overall economy which will pull down their growth to 10-12 percent<br />from a high 15 percent, warns a report. The domestic rating agency India Ratings Monday also revised the outlook on the sector to negative from stable.
5. India Ratings On NBFCs: The year-long liquidity pains of shadow bankers are set to linger on through the rest of the fiscal year at least given the deepening slump in the overall economy which will pull down their growth to 10-12 percent
from a high 15 percent, warns a report. The domestic rating agency India Ratings Monday also revised the outlook on the sector to negative from stable. "We have cut our growth forecast for NBFCs for FY20 to 10-12 percent from 15 in view of the funding challenges and the general economic slowdown, as evident from the deep fall in auto sales, slowdown in rural infra activities and challenges that small units are facing," the agency said. (Stock Image)
6. RBI Suggestions For Home Loan Securitisation Market: A Reserve Bank committee on Monday suggested standardisation of loan documents and setting up of a government-sponsored intermediary under the National Housing Bank (NHB) for development of the home loan securitisation market. Among other things, the Committee on Development of Housing Finance Securitisation Market also recommended that the central government should exempt mortgage-backed securitisation from stamp duty as has been done in the case of asset reconstruction companies (ARCs). Securitisation involves pooling of loans and selling them to a special purpose vehicle which then issues securities called pass-through certificates (PTCs) backed by the loan pool. (Image: Reuters)
6. RBI Suggestions For Home Loan Securitisation Market: A Reserve Bank committee on Monday suggested standardisation of loan documents and setting up of a government-sponsored intermediary under the National Housing Bank (NHB) for development of the home loan securitisation market. Among other things, the Committee on Development of Housing Finance Securitisation Market also recommended that the central government should exempt mortgage-backed securitisation from stamp duty as has been done in the case of asset reconstruction companies (ARCs). Securitisation involves pooling of loans and selling them to a special purpose vehicle which then issues securities called pass-through certificates (PTCs) backed by the loan pool. (Image: Reuters)
7. Moody's On RBI Mandate For Banks: The Reserve Bank of India mandating banks to link certain loans to the external benchmark-based interest rate from October 1 is credit negative to the lenders as it will limit their flexibility in managing risks, Moody's Investors Service said on Tuesday.
7. Moody's On RBI Mandate For Banks: The Reserve Bank of India mandating banks to link certain loans to the external benchmark-based interest rate from October 1 is credit negative to the lenders as it will limit their flexibility in managing risks, Moody's Investors Service said on Tuesday. "This is credit negative for India's banks as it will limit their flexibility in managing interest rate risk," Moody's said in a statement. Banks will be free to decide the spread over the external benchmark. Subsequently, credit risk premiums may undergo change when a borrower's credit assessment also undergoes a substantial change, as agreed upon in the loan contract, Moody's said. (Image: Reuters)
8. Fitch Ratings On India's Fiscal Policy: Fitch Ratings on Tuesday forecasted India's economic growth at 6.6 percent during the current year, down from 6.8 percent in the previous year, and said the government has only limited room to ease fiscal policy because of high debt. It said GDP (gross domestic product) growth is likely to rebound to 7.1 percent next year. Keeping India's rating unchanged at BBB- with a stable outlook, it said the rating balances a strong medium-term growth outlook and relative external resilience with sturdy foreign reserve buffers, against high public debt, financial sector fragilities and some lagging structural factors. In its Asia-Pacific Sovereign Credit Overview, Fitch said India's GDP growth decreased for a fifth consecutive quarter in the April-June quarter to 5 percent, the lowest in six years. (Image: Reuters)
8. Fitch Ratings On India's Fiscal Policy: Fitch Ratings on Tuesday forecasted India's economic growth at 6.6 percent during the current year, down from 6.8 percent in the previous year, and said the government has only limited room to ease fiscal policy because of high debt. It said GDP (gross domestic product) growth is likely to rebound to 7.1 percent next year. Keeping India's rating unchanged at BBB- with a stable outlook, it said the rating balances a strong medium-term growth outlook and relative external resilience with sturdy foreign reserve buffers, against high public debt, financial sector fragilities and some lagging structural factors. In its Asia-Pacific Sovereign Credit Overview, Fitch said India's GDP growth decreased for a fifth consecutive quarter in the April-June quarter to 5 percent, the lowest in six years. (Image: Reuters)
9. Gold ETFs Highest Inflow In August: Gold exchange-traded funds witnessed a net inflow of Rs 145 crore in August, making it the first such infusion in nine months, as higher gold prices and a weak rupee have made investors bet big on this safe-heaven asset.<br />This also marks the highest inflow since December 2012, when gold exchange-traded funds (ETFs) had seen a net infusion of Rs 474 crore. There has been a significant uptick both in terms of month-on-month and year-on-year basis. Gold ETFs had seen a net outflow of Rs 17.66 crore in July this year and a net outflow of Rs 45 crore in August 2018. (Image: Reuters)
9. Gold ETFs Highest Inflow In August: Gold exchange-traded funds witnessed a net inflow of Rs 145 crore in August, making it the first such infusion in nine months, as higher gold prices and a weak rupee have made investors bet big on this safe-heaven asset.
This also marks the highest inflow since December 2012, when gold exchange-traded funds (ETFs) had seen a net infusion of Rs 474 crore. There has been a significant uptick both in terms of month-on-month and year-on-year basis. Gold ETFs had seen a net outflow of Rs 17.66 crore in July this year and a net outflow of Rs 45 crore in August 2018. (Image: Reuters)
10. Agri Exports Fall: The country's agriculture exports dipped 14.39 percent to USD 5.45 billion (about Rs 38,700 crore) in April-July this fiscal, according to APEDA data.<br />Basmati and non-basmati rice exports dipped 9.26 percent to USD 1.56 billion during the first four months of the current fiscal. Similarly, non-basmati rice exports too contracted 38.3 per cent to USD 695 million. The other categories which recorded negative growth include guar gum, groundnut, buffalo meat, sheep/goat meat, poultry and dairy products, processed fruits and vegetables, floriculture and seeds. (Image: AP)
10. Agri Exports Fall: The country's agriculture exports dipped 14.39 percent to USD 5.45 billion (about Rs 38,700 crore) in April-July this fiscal, according to APEDA data.
Basmati and non-basmati rice exports dipped 9.26 percent to USD 1.56 billion during the first four months of the current fiscal. Similarly, non-basmati rice exports too contracted 38.3 per cent to USD 695 million. The other categories which recorded negative growth include guar gum, groundnut, buffalo meat, sheep/goat meat, poultry and dairy products, processed fruits and vegetables, floriculture and seeds. (Image: AP)
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