• SENSEX
    NIFTY 50
Economy

10 things you need to know before the opening bell on September 21

Updated : 2020-09-21 08:22:00

The Indian stock market is expected to open lower on Monday following negative trends in the global markets. At 7:40 am, the SGX Nifty traded 40 points lower at 11,479.50, indicating a weak start for the Sensex and the Nifty50.

1. Asia: Stocks in Asia-Pacific were mixed in Monday morning trade as investors await the release of China’s benchmark lending rate. South Korea’s Kospi recovered from an earlier dip as it rose 0.34 percent in morning trade as shares of Hyundai Motor jumped more than 3 percent. Over in Australia, the S&P/ASX 200 was fractionally lower. Overall, the MSCI Asia ex-Japan index traded little changed. Markets in Japan are closed on Monday for a holiday, reported CNBC International. (Image: Reuters)
1. Asia: Stocks in Asia-Pacific were mixed in Monday morning trade as investors await the release of China’s benchmark lending rate. South Korea’s Kospi recovered from an earlier dip as it rose 0.34 percent in morning trade as shares of Hyundai Motor jumped more than 3 percent. Over in Australia, the S&P/ASX 200 was fractionally lower. Overall, the MSCI Asia ex-Japan index traded little changed. Markets in Japan are closed on Monday for a holiday, reported CNBC International. (Image: Reuters)
2. US: U.S. stock futures were little changed on Sunday night as the market tried to bounce back from its longest weekly losing streak in about a year. Dow Jones Industrial Average futures traded 17 points lower, or 0.1 percent. S&P 500 futures hovered below the flatline and Nasdaq 100 futures climbed 0.2 percent. The S&P 500, Dow Jones Industrial Average and Nasdaq Composite all fell for a third straight week. That marks the market’s longest weekly slide since 2019, reported CNBC International. (Image: AP)
2. US: U.S. stock futures were little changed on Sunday night as the market tried to bounce back from its longest weekly losing streak in about a year. Dow Jones Industrial Average futures traded 17 points lower, or 0.1 percent. S&P 500 futures hovered below the flatline and Nasdaq 100 futures climbed 0.2 percent. The S&P 500, Dow Jones Industrial Average and Nasdaq Composite all fell for a third straight week. That marks the market’s longest weekly slide since 2019, reported CNBC International. (Image: AP)
3. Market At Close On Friday: Indian benchmark indices, Sensex and Nifty erased day's gains to end Friday's volatile session lower, dragged by selling in banking and financial stocks. At the close of trade, the Sensex fell 134.03 points or 0.34 percent to 38,845.82 while the Nifty declined 11.15 points or 0.10 percent to 11,504.95. Broader indices, Nifty Midcap100 and Nifty Smallcap100 declined 0.07 and 0.44 percent, respectively. For the week, Sensex ended flat while Nifty was up 0.5 percent. Nifty Bank fell 1.9 percent. Midcap Index outperformed the benchmarks with gains of almost 4 percent. Selling in banking heavyweights such as HDFC Bank, Kotak Mahindra Bank, SBI, among others dragged Nifty Bank over 1 percent. (Image: Reuters)
3. Market At Close On Friday: Indian benchmark indices, Sensex and Nifty erased day's gains to end Friday's volatile session lower, dragged by selling in banking and financial stocks. At the close of trade, the Sensex fell 134.03 points or 0.34 percent to 38,845.82 while the Nifty declined 11.15 points or 0.10 percent to 11,504.95. Broader indices, Nifty Midcap100 and Nifty Smallcap100 declined 0.07 and 0.44 percent, respectively. For the week, Sensex ended flat while Nifty was up 0.5 percent. Nifty Bank fell 1.9 percent. Midcap Index outperformed the benchmarks with gains of almost 4 percent. Selling in banking heavyweights such as HDFC Bank, Kotak Mahindra Bank, SBI, among others dragged Nifty Bank over 1 percent. (Image: Reuters)
4. Crude Oil: Oil prices were mixed on Friday after a Libyan commander said a blockade on the country’s oil exports would be lifted for a month, while a declining U.S. equities market also weighed on futures. Brent fell 55 cents to $42.75 a barrel, but was set to rise 7.4 percent for the week, while West Texas Intermediate crude, the U.S. oil benchmark, settled 14 cents, or 0.3 percent, higher at $41.11 per barrel.  Prices fell on Friday after eastern Libyan commander Khalifa Haftar announced he would lift his blockade of oil output for one month. The blockade slashed Libyan production to just over 100,000 barrels per day now from around 1.2 million bpd previously. (Image: Reuters)
4. Crude Oil: Oil prices were mixed on Friday after a Libyan commander said a blockade on the country’s oil exports would be lifted for a month, while a declining U.S. equities market also weighed on futures. Brent fell 55 cents to $42.75 a barrel, but was set to rise 7.4 percent for the week, while West Texas Intermediate crude, the U.S. oil benchmark, settled 14 cents, or 0.3 percent, higher at $41.11 per barrel.  Prices fell on Friday after eastern Libyan commander Khalifa Haftar announced he would lift his blockade of oil output for one month. The blockade slashed Libyan production to just over 100,000 barrels per day now from around 1.2 million bpd previously. (Image: Reuters)
5. Rupee Close: The Indian currency ended higher on Friday, by 33 paise to close at Rs 73.33 against the US currency as compared to Thursday's close of 73.66. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.07 percent to 92.90. (Image: Reuters)
5. Rupee Close: The Indian currency ended higher on Friday, by 33 paise to close at Rs 73.33 against the US currency as compared to Thursday's close of 73.66. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.07 percent to 92.90. (Image: Reuters)
6. Rajya Sabha Passes Amendment In Insolvency And Bankruptcy Code: The Rajya Sabha on Saturday passed the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020, whereby fresh insolvency proceedings will not be initiated for at least six months starting from March 25 amid the coronavirus pandemic. Replying to a debate on the Bill in the House, union finance minister Nirmala Sitharaman said the intention of the IBC is to keep companies a
6. Rajya Sabha Passes Amendment In Insolvency And Bankruptcy Code: The Rajya Sabha on Saturday passed the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020, whereby fresh insolvency proceedings will not be initiated for at least six months starting from March 25 amid the coronavirus pandemic. Replying to a debate on the Bill in the House, union finance minister Nirmala Sitharaman said the intention of the IBC is to keep companies a "going concern" and not liquidate them. The Bill mandates that a default on repayments from March 25, the day when a nationwide lockdown began to curb the spread of coronavirus, would not be considered for initiating insolvency proceedings for at least six months. (Image: PTI)
7. Finance Minister On Insolvency Proceedings: Union finance minister Nirmala Sitharaman on Saturday said law provides for carrying out insolvency and bankruptcy proceedings against corporate debtors as well personal guarantors together. She was replying to a debate on the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020, in the Rajya Sabha which passed the proposed legislation to replace an ordinance in this regard with voice vote.
7. Finance Minister On Insolvency Proceedings: Union finance minister Nirmala Sitharaman on Saturday said law provides for carrying out insolvency and bankruptcy proceedings against corporate debtors as well personal guarantors together. She was replying to a debate on the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020, in the Rajya Sabha which passed the proposed legislation to replace an ordinance in this regard with voice vote. "The corporate debtor often has guarantors. So for comprehensive corporate insolvency resolution and liquidation, we felt it was necessary that the insolvency of the corporate debtor as well as its guarantors are considered together to whatever extent it is possible," Sitharaman said in response to some members raising the issue. (Image: PTI)
8. RBI On Possible Pile-Up in NPAs: The RBI has not asked banks and non-banking financial institutions to raise capital to brace for a possible pile up in bad debt in the coming months, Minister of State for Finance Anurag Thakur informed the Rajya Sabha. However, he said,
8. RBI On Possible Pile-Up in NPAs: The RBI has not asked banks and non-banking financial institutions to raise capital to brace for a possible pile up in bad debt in the coming months, Minister of State for Finance Anurag Thakur informed the Rajya Sabha. However, he said, "banks and non-banking financial institutions are required to maintain capital as per prudential capital adequacy norms on an ongoing basis." RBI Governor Shaktikanta Das at an event in July had advised that banks need to raise capital on anticipatory basis to build up adequate capital buffers to mitigate risks arising out of coronavirus outbreak. "In such a situation, it has become a lot more important that the banks have to improve their governance, sharpen their risk management skills and banks have to raise capital on an anticipatory basis instead of waiting for a situation to arise. Proactively, it is necessary for both public and private sector banks to build up adequate capital buffers," Das had said. (Image: Reuters)
9. Custom Duty On Open Cell: The customs duty at the rate of 5 percent shall apply on Open Cell, a key component for television manufacturing, from October 2020, as the customs duty exemption given to Open Cell for a period of one year will end on this 30th September. This exemption was given a year ago to the industry as it had sought time to build domestic capacity for Open Cell, said a finance ministry source while responding to a query whether the television sets are going to cost more from coming October as panel duty sop ends. This move is elemental to the Phased Manufacturing Plan (PMP) of television and its components to bring the television industry out of the crutch-walking (of mere television assembling while being totally dependent on imports for all its parts), said a top government source. (stock image)
9. Custom Duty On Open Cell: The customs duty at the rate of 5 percent shall apply on Open Cell, a key component for television manufacturing, from October 2020, as the customs duty exemption given to Open Cell for a period of one year will end on this 30th September. This exemption was given a year ago to the industry as it had sought time to build domestic capacity for Open Cell, said a finance ministry source while responding to a query whether the television sets are going to cost more from coming October as panel duty sop ends. This move is elemental to the Phased Manufacturing Plan (PMP) of television and its components to bring the television industry out of the crutch-walking (of mere television assembling while being totally dependent on imports for all its parts), said a top government source. (stock image)
10. Net Direct Tax Collection Dips In April-August: The net direct tax collection during April-August was Rs 1.92 lakh crore, down 31 percent over the same period of the last fiscal. The net indirect tax collection during the five-month period till August fell 11 percent year-on-year to Rs 3.42 lakh crore. In a written reply to the Lok Sabha, Minister of State for Finance Anurag Singh Thakur said net direct tax collection was Rs 2,79,711 crore in April-August 2019, compared to Rs 1,92,718 crore in April-August 2020. The net indirect tax collection in April-August 2019 was Rs 3,85,949 crore, as against Rs 3,42,591 crore in April-August 2020. (stock image)
10. Net Direct Tax Collection Dips In April-August: The net direct tax collection during April-August was Rs 1.92 lakh crore, down 31 percent over the same period of the last fiscal. The net indirect tax collection during the five-month period till August fell 11 percent year-on-year to Rs 3.42 lakh crore. In a written reply to the Lok Sabha, Minister of State for Finance Anurag Singh Thakur said net direct tax collection was Rs 2,79,711 crore in April-August 2019, compared to Rs 1,92,718 crore in April-August 2020. The net indirect tax collection in April-August 2019 was Rs 3,85,949 crore, as against Rs 3,42,591 crore in April-August 2020. (stock image)
Live TV

recommended for you

Ask Our Experts CNBC TV18

Advertisement