10 things you need to know before the opening bell on September 8 – CNBCTV18

1. Asia: Stocks in Asia Pacific were mostly higher on Tuesday morning, as Japan released revised gross domestic product figures for the second quarter. In Japan, the Nikkei 225 advanced 0.33 percent in morning trade while the Topix index gained 0.14 percent. Elsewhere, Hong Kong’s Hang Seng index traded 0.33 percent higher. South Korea’s Kospi rose 0.69 percent. Shares in Australia also saw gains, with the S&P/ASX 200 trading 0.97 percent higher. Overall, the MSCI Asia ex-Japan index traded 0.34 percent higher, reported CNBC International. (Image: Reuters)

2. US: Stocks futures climbed in overnight trading on Monday after technology shares suffered their worst sell-off in more than five months. Futures on the Dow Jones Industrial Average gained about 220 points, while the S&P 500 futures rose 0.5 percent. The Nasdaq 100 futures were flat. Many on Wall Street believe the weakness derived from worries that the massive tech run-up pushed valuations to unsustainable levels, reported CNBC International. (Image: AP)

3. Market At Close On Monday: Indian indices ended marginally higher after a volatile session on Monday led by IT, FMCG stocks and heavyweights HDFC and RIL. Investors shrugged off caution as the country became the second-most hit with coronavirus and selloff in Wall Street. The Sensex ended 60 points higher at 38,417 while the Nifty rose 40 points to 11,374. Broader markets were mixed with Nifty Midcap down 0.7 percent and Nifty Smallcap up 0.2 percent. (Image: Reuters)

4. Crude Oil: Oil prices dropped more than 1% on Monday after earlier hitting their lowest since July as Saudi Arabia made the deepest monthly price cuts for supply to Asia in five months while optimism about demand recovery cooled amid the coronavirus pandemic. Brent crude was at $42.21 a barrel, down 45 cents or 1.1% by 0439 GMT, after earlier sliding to $41.51, the lowest since July 30. U.S. West Texas Intermediate crude skidded 51 cents, or 1.3%, to $39.26 a barrel after earlier dropping to $38.55, the lowest since July 10, reported CNBC International. (Image: AP)

5. Rupee Close: The Indian currency depreciated 21 paise on Monday amidst volatile equity market and strengthening American currency. The rupee ended at 73.35 against the US dollar as compared to the previous close of 73.14. (Image: Reuters)

6. KV Kamath Panel Submits Report For Loan Relief: The Reserve Bank of India (RBI) has released the report of the Expert Committee on Resolution Framework for Covid-19 related Stress. The committee, headed by KV Kamath, has recommended financial parameters including aspects related to leverage, liquidity and debt serviceability. The recommendations of the committee have broadly been accepted by the RBI. The Committee has recommended financial ratios for 26 sectors, which could be factored by lending institutions while finalizing a resolution plan for a borrower. (Getty Image)

7. Banks Sanction Loans To MSMEs: The Finance Ministry on Monday said banks have sanctioned loans of about Rs 1,61,017 crore under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector reeling under the slowdown caused by the coronavirus pandemic. However, disbursements against this stood at Rs 1,13,713 lakh crore till September 3. The scheme is the biggest fiscal component of the Rs 20-lakh crore Aatmanirbhar Bharat Abhiyan package announced by Finance Minister Nirmala Sitharaman in May to mitigate the distress caused by lockdown due to COVID-19 by providing credit to different sectors, especially micro, small and medium enterprises (MSMEs). (image: Reuters)

8. SEBI On Re-lodgement Of Share Transfer Requests: Capital markets regulator Sebi on Monday fixed March 31, 2021, as the cut-off date for re-lodgement of share transfer requests. Transfer of securities held in physical mode has been discontinued with effect from April 1, 2019, but investors have not been barred from holding shares in the physical form. Sebi, in March 2019, had clarified that transfer deeds lodged before the deadline of April 1, 2019, and rejected or returned due to deficiency in the documents may be re-lodged with requisite documents. Now, Securities and Exchange Board of India (Sebi), has “decided to fix March 31, 2021, as the cut-off date for re-lodgement of transfer deeds”, according to a circular. (image: Reuters)

9. EPFO On Selling Of ETF Investments: The Central Board of Trustees of the Employees Provident Fund Organization will meet this week on Wednesday to seek permission to liquidate some of its old ETF investments. The upcoming board meet will discuss selling ETF holdings of 2016 in order to meet the 8.5 percent interest promised to provident fund subscribers in March. Sources tell CNBC-TV18, the 2016 ETF holdings are worth around Rs 6,000 crore and with the markets staging a smart recovery, the EPFO expects to earn around Rs 2,700 crore, sufficient not just to meet the 8.5 percent provident fund rate, but also enable the EPFO to retain a small surplus of Rs 500 crore in the process. (Image: Reuters)

10. Fitch Revises India’s FY21 Fiscal Deficit: Global credit rating agency Fitch has revised India’s FY21 central government fiscal deficit forecast to 8.2 percent of GDP from 7.2 percent due to higher than anticipated willingness of govt to spend amid weak revenue collection. The rating agency also forecasts total government deficit including the state deficit for FY21 at 11.8 percent of GDP. This is due to a quicker than previously anticipated divergence in expenditures and non-debt receipts, which saw the deficit exceed the full year target in only four months, Fitch said. Fitch expects the government to maintain its spending expansion through increased government securities issuances, which would be absorbed by the banking sector under an increased Statutory Liquidity Ratio threshold up to March 31, 2021, which allows more funds to be invested in these securities. (Image: Reuters)