10 things you need to know before the opening bell on June 14

SUMMARY

Indian shares are set for a negative start following rising global geopolitical tensions and amid concerns over liquidity situation at the non-banking financial companies. On the macro front, India’s Wholesale Price Index-based inflation data will be released today. At 7.10 AM, SGX Nifty, an early indicator of the Nifty 50's trend in India, traded 23 points or 0.19 percent lower at 11,897, indicating a negative start for the Sensex and the Nifty 50.

By CNBC-TV18Jun 14, 2019 7:20:55 AM IST (Updated)

1. Global Markets: MSCI's broadest index of Asia-Pacific shares outside Japan was little changed. Australian stocks edged up 0.05 percent while Japan's Nikkei dipped 0.1 percent. The Dow Jones Industrial Average rose 101.94 points, or 0.39 percent, to 26,106.77, the S&P 500 gained 11.8 points, or 0.41 percent, to 2,891.64 and the Nasdaq Composite added 44.41 points, or 0.57 percent, to 7,837.13.

2. Markets At Close On Thursday: Indian benchmark indices pared gains to end flat on Thursday and lifted banking heavyweights like HDFC Bank, Kotak Bank and ICICI Bank. The Sensex ended 15 points lower at 39,741, while the broader Nifty50 index added 8 points to end at 11,914.

3. Crude Oil: Brent crude futures were down 17 cents, or 0.3 percent, at $61.14 a barrel by 0041 GMT. They settled up 2.23 percent on Thursday, at $61.31, having risen as much as 4.5 percent. US West Texas Intermediate crude futures were down 39 cents, or 0.8 percent, at $51.89 a barrel. They closed 2.23 percent higher at $52.28 a barrel in the previous session, having also risen as much as 4.5 percent. The attacks near Iran and the Strait of Hormuz countered concerns about global demand that had hammered prices in recent weeks, analysts said.

4. Currency: The rupee closed 17 paise lower on Thursday, at Rs 69.51 against the US dollar. The dollar index against a basket of six major currencies was little changed at 96.998 after ending the previous day nearly flat, with caution ahead of the next week's Fed meeting keeping the greenback in a tight range.

5. FIIs & DIIs: Foreign institutional investors (FIIs) bought shares worth Rs 172 crore on a net basis in the cash market, while domestic institutional investors (DIIs) sold shares worth Rs 445 crore on June 13.

6. RBI: The Reserve Bank of India said Thursday said it will infuse Rs 12,500 crore into the financial system through bond purchases on June 20. The decision has taken based on a review of the evolving liquidity conditions and assessment of the durable liquidity needs going forward, the central bank said in a statement. The purchase of government securities under the Open Market Operation (OMO) for Rs 125 billion (Rs 12,500 crore) will be conducted on June 20, 2019.

7. Telecom-Spectrum Auction: The apex decision making body at the Telecom Department Thursday decided to refer to TRAI for reconsideration the recommendations on spectrum auction amid industry's concerns on pricing. The Digital Communications Commission (DCC), which met here Thursday, also approved the terms and conditions for 5G trials in the country, sources said.

8. US-India Trade Ties: India's reluctance to give equitable market access to the American companies led to the withdrawal of the generalised system of preferences (GSP), the US commerce secretary Wilbur Ross said on Thursday. Ross was speaking at the two-day India Ideas Summit organised by the US India Business Council (USIBC) in Washington DC. He said that the US industry is confronted by tariff and non-tariff barriers in India particularly in e-commerce, data localisation, and price control. Moreover, US Secretary of State Mike Pompeo said, "We remain open to dialogue and hope our Indian friends will drop their trade barriers and trust in the competitiveness of their exporters and private-sector companies."

9. PM Modi-Xi Jinping Meet At SCO: Prime Minister Narendra Modi on Thursday said he had an "extremely fruitful meeting" with Chinese President Xi Jinping on the sidelines of the SCO Summit here and discussed the full spectrum of bilateral relations as they vowed to work together to improve the economic and cultural ties. The meeting also comes a month after the 1267 Al Qaeda Sanctions Committee of the powerful UN Security Council designated Pakistan-based terror group Jaish-e-Mohammed chief Masood Azhar as a global terrorist after China lifted its technical hold on the proposal to blacklist him.

10. Electric Vehicle: The Narendra Modi government is mulling a 50 to 100 percent subsidy to electric vehicle charging infrastructure, sources privy to the developments told CNBC-TV18. The matter has been already discussed by union heavy industries and the power ministry, and is seeking a cabinet nod, sources in the know told CNBC-TV18.