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10 things you need to know before the opening bell on September 12

Updated : 2019-09-12 07:01:59

Indian shares are likely to extend Wednesday’s gains today as sentiment remained positive on hopes of fresh initiatives from the government to revive the automobile sector, which is facing its worst crisis in a decade. Additionally, positive cues from Asia on the back of the diminishing US-China trade tensions and rate cut hopes by major central banks, are likely to support the domestic market. At 06:52 AM, the SGX Nifty Futures traded higher by 0.45 percent, or 49.50 points, at 11,086.50, indicating a positive start for the Sensex and the Nifty.

1. Asia: Asian stocks rose on Thursday on hopes for a thaw in U.S.-China trade frictions and expectations that the European Central Bank will kick off another wave of monetary easing by global central banks. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2 percent and Japan's Nikkei stock index rose 1 percent. Australian shares were up 0.41 percent. (Image: Reuters)
1. Asia: Asian stocks rose on Thursday on hopes for a thaw in U.S.-China trade frictions and expectations that the European Central Bank will kick off another wave of monetary easing by global central banks. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2 percent and Japan's Nikkei stock index rose 1 percent. Australian shares were up 0.41 percent. (Image: Reuters)
2. US:  Wall Street moved higher on Wednesday, led by tariff-sensitive technology and industrial stocks after China extended an olive branch ahead of next month's trade negotiations with the United States. The Dow Jones Industrial Average rose 227.61 points, or 0.85 percent, to 27,137.04, the S&P 500 gained 21.54 points, or 0.72 percent, to 3,000.93 and the Nasdaq Composite added 85.52 points, or 1.06 percent, to 8,169.68. (Image: AP)
2. US:  Wall Street moved higher on Wednesday, led by tariff-sensitive technology and industrial stocks after China extended an olive branch ahead of next month's trade negotiations with the United States. The Dow Jones Industrial Average rose 227.61 points, or 0.85 percent, to 27,137.04, the S&P 500 gained 21.54 points, or 0.72 percent, to 3,000.93 and the Nasdaq Composite added 85.52 points, or 1.06 percent, to 8,169.68. (Image: AP)
3. Markets At Close On Wednesday: Indian shares ended higher on Wednesday, led by Yes Bank and Tata Motors, while gains in broader Asia amid easing Sino-US tensions also buoyed trading sentiment. The Sensex ended 125 points higher at 37,271, while the broader Nifty50 index added 33 points to end the day at 11,036. Meanwhile, foreign institutional investors bought Rs 267 crore in the cash market while domestic institutional investors bought Rs 1,132 crore. (Image: Reuters)
3. Markets At Close On Wednesday: Indian shares ended higher on Wednesday, led by Yes Bank and Tata Motors, while gains in broader Asia amid easing Sino-US tensions also buoyed trading sentiment. The Sensex ended 125 points higher at 37,271, while the broader Nifty50 index added 33 points to end the day at 11,036. Meanwhile, foreign institutional investors bought Rs 267 crore in the cash market while domestic institutional investors bought Rs 1,132 crore. (Image: Reuters)
4. Crude Oil: Oil prices rose in the morning of Asian trading hours, with international benchmark Brent crude futures adding 0.59 percent to $61.17 per barrel and U.S. crude futures gaining 0.72 percent to $56.15 per barrel. (Image: Reuters)
4. Crude Oil: Oil prices rose in the morning of Asian trading hours, with international benchmark Brent crude futures adding 0.59 percent to $61.17 per barrel and U.S. crude futures gaining 0.72 percent to $56.15 per barrel. (Image: Reuters)
5. Currency: The rupee recovered from initial losses to settle higher by 5 paise at 71.66 against the US currency on Wednesday, extending gains for a fifth straight session on the back of firm domestic equities and Asian currencies like the Chinese yuan. Forex traders said the uptick in domestic stocks enthused investors, following which the domestic unit gained strength and recovered from early losses. (Image: Reuters)
5. Currency: The rupee recovered from initial losses to settle higher by 5 paise at 71.66 against the US currency on Wednesday, extending gains for a fifth straight session on the back of firm domestic equities and Asian currencies like the Chinese yuan. Forex traders said the uptick in domestic stocks enthused investors, following which the domestic unit gained strength and recovered from early losses. (Image: Reuters)
sized enterprises (MSMEs) because of the funding squeeze caused by the liquidity crisis in the country's financial sector," the agency said. (Image: Reuters)" data-original="https://images.cnbctv18.com/wp-content/uploads/2018/04/2018-03-26T182621Z_2_LYNXMPEE2P1M7_RTROPTP_4_SAFRICA-POLITICS-RAMAPHOSA.jpg" > 6. Moody's On Refinancing Risk: Delinquencies in loans against property to small businesses may go up as the liquidity squeeze is forcing non-bank lenders to pull back from lending to such enterprises, global rating agency Moody's said on Wednesday. This situation is a credit negative for the asset- backed securities, the agency warned. sized enterprises (MSMEs) because of the funding squeeze caused by the liquidity crisis in the country's financial sector," the agency said. (Image: Reuters)" title="6. Moody's On Refinancing Risk: Delinquencies in loans against property to small businesses may go up as the liquidity squeeze is forcing non-bank lenders to pull back from lending to such enterprises, global rating agency Moody's said on Wednesday. This situation is a credit negative for the asset- backed securities, the agency warned. "Indian non-banking financial companies (NBFCs) and housing finance companies (HFCs) are pulling back on loan against property (LAP) lending to micro, small and medium
sized enterprises (MSMEs) because of the funding squeeze caused by the liquidity crisis in the country's financial sector," the agency said. (Image: Reuters)">
6. Moody's On Refinancing Risk: Delinquencies in loans against property to small businesses may go up as the liquidity squeeze is forcing non-bank lenders to pull back from lending to such enterprises, global rating agency Moody's said on Wednesday. This situation is a credit negative for the asset- backed securities, the agency warned. "Indian non-banking financial companies (NBFCs) and housing finance companies (HFCs) are pulling back on loan against property (LAP) lending to micro, small and medium
sized enterprises (MSMEs) because of the funding squeeze caused by the liquidity crisis in the country's financial sector," the agency said. (Image: Reuters)
7. Nitin Gadkari On Auto Sector: Union minister Nitin Gadkari on Wednesday said it is up to the finance ministry along with state governments and GST Council to decide on reduction in GST rate for automobiles and that he has already spoken to the finance minister in this regard. The Road Transport and Highways Minister also said a scrappage policy, which also includes two-wheelers, is in the works and will be launched soon. He further said, currently the ball is in the court of the finance ministry and he is confident that the ministry in consultation with state governments will take a positive decision.(Image: PTI)
7. Nitin Gadkari On Auto Sector: Union minister Nitin Gadkari on Wednesday said it is up to the finance ministry along with state governments and GST Council to decide on reduction in GST rate for automobiles and that he has already spoken to the finance minister in this regard. The Road Transport and Highways Minister also said a scrappage policy, which also includes two-wheelers, is in the works and will be launched soon. He further said, currently the ball is in the court of the finance ministry and he is confident that the ministry in consultation with state governments will take a positive decision.(Image: PTI)
8. OPEC On India's Oil Demand: India's oil demand will rise by the fastest pace globally this year and the next even as its economic expansion has slowed down, oil producers cartel OPEC said on Wednesday. In its monthly World Oil Demand report, OPEC said India's oil demand is projected to rise by 3.21 percent to 4.88 million barrels per day (mb/d) in 2019 from 4.73 mb/d in the previous year. In 2020, it will further rise by 3.36 percent to 5.05 mb/d. This outpaces China's oil demand growth of 2.73 percent in 2019 and 2.37 percent in 2020. World oil demand in 2019 is expected to grow by 1.02 mb/d, which is 0.08 mb/d lower than the previous projection, OPEC said. (Image: Reuters)
8. OPEC On India's Oil Demand: India's oil demand will rise by the fastest pace globally this year and the next even as its economic expansion has slowed down, oil producers cartel OPEC said on Wednesday. In its monthly World Oil Demand report, OPEC said India's oil demand is projected to rise by 3.21 percent to 4.88 million barrels per day (mb/d) in 2019 from 4.73 mb/d in the previous year. In 2020, it will further rise by 3.36 percent to 5.05 mb/d. This outpaces China's oil demand growth of 2.73 percent in 2019 and 2.37 percent in 2020. World oil demand in 2019 is expected to grow by 1.02 mb/d, which is 0.08 mb/d lower than the previous projection, OPEC said. (Image: Reuters)
9. Government On Bad Loans Solution: The government on Wednesday asked banks to put in all efforts to resolve bad loans themselves and approach National Company Law Tribunal (NCLT) only in the absence of any alternative. Minister of State for Finance and Corporate Affairs Anurag Thakur said NCLT route should not be used by bankers to<br />resolving stressed accounts on a daily basis.
9. Government On Bad Loans Solution: The government on Wednesday asked banks to put in all efforts to resolve bad loans themselves and approach National Company Law Tribunal (NCLT) only in the absence of any alternative. Minister of State for Finance and Corporate Affairs Anurag Thakur said NCLT route should not be used by bankers to
resolving stressed accounts on a daily basis. "I would request bankers to try and resolve stressed assets in the right earnest and refer cases to NCLT only if satisfied resolution outside the NCLT process is not available," Thakur said at the 72nd annual general meeting of Indian Banks' Association (IBA). (Image: Reuters)
10. Crisil On Airports Growth: Air passengers are likely to shell out the highest fares for domestic travel this fiscal with the ticket prices expected to spike 7-9 percent during<br />the period because of limited capacity additions since the grounding of Jet Airways, rating agency Crisil Research said on Wednesday.
10. Crisil On Airports Growth: Air passengers are likely to shell out the highest fares for domestic travel this fiscal with the ticket prices expected to spike 7-9 percent during
the period because of limited capacity additions since the grounding of Jet Airways, rating agency Crisil Research said on Wednesday. "This is way below the 14 percent growth logged in fiscal 2019 and the compound annual growth rate (CAGR) of 18 percent was seen in the last five years. Nevertheless, is higher than our earlier estimate of 2 percent growth and factors an upward revision in capacity addition plans of low cost carriers (LCCs)," Crisil added. (Image: Reuters)
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