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10 things you need to know before the opening bell on August 7 – CNBCTV18

Economy

Updated : 2020-08-07 07:54:37

The Indian market is expected to open flat on Friday amidst a mixed trend in the peer markets. At 7:43 am, the SGX Nifty traded 11 points lower at 11,201, indicating a flat start for the Sensex and the Nifty50.

CNBCTV18.com

1. Asia: Stocks in Asia Pacific traded mixed Friday morning as investors await several economic data releases for July. In Japan, the Nikkei 225 slipped 0.3 percent in early trade while the Topix index shed 0.15 percent. South Korea’s Kospi advanced 0.51 percent. Meanwhile, shares in Australia dipped, with the S&P/ASX 200 shedding 0.64 percent. The Reserve Bank of Australia is set to release its statement on monetary policy. Overall, the MSCI Asia ex-Japan index hovered above the flatline, reported CNBC International. (Image: AP)

1. Asia: Stocks in Asia Pacific traded mixed Friday morning as investors await several economic data releases for July. In Japan, the Nikkei 225 slipped 0.3 percent in early trade while the Topix index shed 0.15 percent. South Korea’s Kospi advanced 0.51 percent. Meanwhile, shares in Australia dipped, with the S&P/ASX 200 shedding 0.64 percent. The Reserve Bank of Australia is set to release its statement on monetary policy. Overall, the MSCI Asia ex-Japan index hovered above the flatline, reported CNBC International. (Image: AP)

2. US:  Futures tied to major U.S. equity averages held steady in overnight trading on Thursday as investors awaited a key monthly jobs report. Dow Jones Industrial Average futures dipped about 30 points. The S&P 500 and the Nasdaq 100 futures were little changed.. The stock market is coming off five consecutive days of gains as the technology sector built on its momentum, reported CNBC International.  (Image: AP)

2. US:  Futures tied to major U.S. equity averages held steady in overnight trading on Thursday as investors awaited a key monthly jobs report. Dow Jones Industrial Average futures dipped about 30 points. The S&P 500 and the Nasdaq 100 futures were little changed.. The stock market is coming off five consecutive days of gains as the technology sector built on its momentum, reported CNBC International.  (Image: AP)

3. Market At Close On Thursday: The Indian benchmark equity indices, Sensex and Nifty ended higher Thursday after the announcement of the Reserve Bank of India’s (RBI) monetary policy. The Sensex ended 362.12 points or 0.96 percent higher at 38,025.45 while the Nifty surged 98.50 points or 0.89 percent to close at 11,200.15. Broader indices participated in the rally with Nifty Midcap gaining over 1 percent and Nifty Smallcap index ending over 0.3 percent higher. (Image: Reuters)

3. Market At Close On Thursday: The Indian benchmark equity indices, Sensex and Nifty ended higher Thursday after the announcement of the Reserve Bank of India’s (RBI) monetary policy. The Sensex ended 362.12 points or 0.96 percent higher at 38,025.45 while the Nifty surged 98.50 points or 0.89 percent to close at 11,200.15. Broader indices participated in the rally with Nifty Midcap gaining over 1 percent and Nifty Smallcap index ending over 0.3 percent higher. (Image: Reuters)

4. Crude Oil: Oil prices hovered near five-month highs on Thursday as support from a weak dollar and Iraq’s planned production cuts counteracted bearish sentiment about fuel demand, pushing the benchmarks in and out of positive territory. Brent crude was up 9 cents at $45.25 a barrel, while West Texas Intermediate crude fell 24 cents, or 0.57 percent, to settle at $41.95 after a four-day streak of gains, reported CNBC International. (Image: Reuters)

4. Crude Oil: Oil prices hovered near five-month highs on Thursday as support from a weak dollar and Iraq’s planned production cuts counteracted bearish sentiment about fuel demand, pushing the benchmarks in and out of positive territory. Brent crude was up 9 cents at $45.25 a barrel, while West Texas Intermediate crude fell 24 cents, or 0.57 percent, to settle at $41.95 after a four-day streak of gains, reported CNBC International. (Image: Reuters)

5. Rupee Close: The Indian currency closed little unchanged on Thursday after RBI left the key policy rates same as the previous ones. The rupee ended at 74.93 against the US dollar as compared to the previous close of 74.93. (Image: Reuters)

5. Rupee Close: The Indian currency closed little unchanged on Thursday after RBI left the key policy rates same as the previous ones. The rupee ended at 74.93 against the US dollar as compared to the previous close of 74.93. (Image: Reuters)

6. RBI Leaves Repo Rate Unchanged At 4%: The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) kept the repo rate unchanged in the August policy. With no change this time, the repo rate currently stands at 4 percent. The reverse repo rate has been maintained at 3.35 percent. The central bank has maintained its policy stance at “accommodative” which could continue for as long as necessary to revive growth. (Image: Reuters)

6. RBI Leaves Repo Rate Unchanged At 4%: The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) kept the repo rate unchanged in the August policy. With no change this time, the repo rate currently stands at 4 percent. The reverse repo rate has been maintained at 3.35 percent. The central bank has maintained its policy stance at “accommodative” which could continue for as long as necessary to revive growth. (Image: Reuters)

7. Govt Mulling Production Linked Incentives For More Sectors: After launching production linked incentive (PLI) schemes for electronics, pharma, medical equipment, the government is now discussing similar PLI schemes for more sectors.

7. Govt Mulling Production Linked Incentives For More Sectors: After launching production linked incentive (PLI) schemes for electronics, pharma, medical equipment, the government is now discussing similar PLI schemes for more sectors. “Discussions are going on between the Finance Ministry, Niti Aayog and line ministries and soon as the contours get finalized, the schemes will be sent for a cabinet nod for a formal announcement,” sources told CNBC-TV18. Some of the sectors, where a PLI scheme could be announced soon include chemicals, fertilizers, solar equipment, including solar cells and panels, power equipment manufacturing, electric vehicle components, batteries and auto parts and components, sources said. (Image: Reuters)

8. Amitabh Kant On Beneficial Ownership Issue: The government will soon issue a clarification on the beneficial ownership issue regarding foreign direct investment (FDI) from neighbouring countries, said Amitabh Kant, chief executive officer of policy think-tank NITI Aayog. “Inter-ministerial consultation is going on and you will soon have a policy regime on this,” Kant told CNBC-TV18. He also stated that the Production-Linked Incentive Scheme will be extended to more sectors very shortly. “Without the clarity on the threshold, any investor with even one share held by a Chinese investor will require an added layer of approval, this is a big concern,

8. Amitabh Kant On Beneficial Ownership Issue: The government will soon issue a clarification on the beneficial ownership issue regarding foreign direct investment (FDI) from neighbouring countries, said Amitabh Kant, chief executive officer of policy think-tank NITI Aayog. “Inter-ministerial consultation is going on and you will soon have a policy regime on this,” Kant told CNBC-TV18. He also stated that the Production-Linked Incentive Scheme will be extended to more sectors very shortly. “Without the clarity on the threshold, any investor with even one share held by a Chinese investor will require an added layer of approval, this is a big concern,” said a private equity expert. (Image: Reuters)

9. Priority Lending For Startups: The Reserve Bank of India on Thursday included startups among its ‘priority lending’ sectors, ensuring access to easy credit from banks. The move, industry members said, will lower startups' reliance on equity funding for growth. “With a view to aligning the guidelines with emerging national priorities and bring a sharper focus on inclusive development, the Priority Sector Lending (PSL) guidelines have been reviewed,” RBI governor Shaktikanta Das said during his monetary policy speech, adding that an incentive framework is now being put in place for banks to address the regional disparities in the flow of priority sector credit. “PSL status is also being given to start-ups,” he added. (Stock Image)

9. Priority Lending For Startups: The Reserve Bank of India on Thursday included startups among its ‘priority lending’ sectors, ensuring access to easy credit from banks. The move, industry members said, will lower startups’ reliance on equity funding for growth. “With a view to aligning the guidelines with emerging national priorities and bring a sharper focus on inclusive development, the Priority Sector Lending (PSL) guidelines have been reviewed,” RBI governor Shaktikanta Das said during his monetary policy speech, adding that an incentive framework is now being put in place for banks to address the regional disparities in the flow of priority sector credit. “PSL status is also being given to start-ups,” he added. (Stock Image)

10. DPIIT Secretary On Japanese Industrial Ownership: India is planning to set up the 13th Japanese industrial township in Assam, a move aimed at promoting domestic manufacturing and strengthening economic ties between the two countries, a top government official said on Thursday. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Guruprasad Mohapatra said they are working on a Geographic Information System-enabled database of industrial areas and clusters across the country.

10. DPIIT Secretary On Japanese Industrial Ownership: India is planning to set up the 13th Japanese industrial township in Assam, a move aimed at promoting domestic manufacturing and strengthening economic ties between the two countries, a top government official said on Thursday. Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Guruprasad Mohapatra said they are working on a Geographic Information System-enabled database of industrial areas and clusters across the country. “In terms of infrastructure, India has 12 Japanese industrial townships across nine states, a 13th is being planned in Assam. These are integrated industrial parks with ready to move in infrastructure facilities, with world-class infrastructure, plug and play factories, pre-approved licences, and investment incentives exclusively for Japanese companies,” he said. (Image: Reuters)