1. Asia: Stocks in Asia-Pacific were mostly higher in Tuesday morning trade as investors look to the interest rate decision set to be announced by the Reserve Bank of Australia.
Hong Kong’s Hang Seng index advanced 0.42 percent in early trade. In Japan, the Nikkei 225 rose 0.3 percent in morning trade as shares of conglomerate Softbank Group jumped 1.82 percent. The Topix index also gained 0.18 percent. South Korea’s Kospi advanced 0.43 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.42 percent higher. Markets in China are closed on Tuesday for a holiday, reported CNBC International. (Image: Reuters)
2. US: US stock futures were little changed on Monday evening after the market had its strongest session in several weeks. Futures tied to the Dow Jones Industrial Average rose about were flat. Contracts for the Nasdaq 100 slipped about 0.2 percent, while those for the S&P 500 were down 0.1 percent. The stability for futures followed a strong Monday session for the market as investors grew more optimistic about President Donald Trump’s health and the possibility of additional economic relief, reported CNBC International. (Image: AP)
3. Market At Close On Monday: Indian indices ended with gains on Monday led by the rally in IT stocks. The Sensex ended 277 points higher to 38,973.70 while the Nifty50 index ended at 11,503.35, up 86 points. Broader markets ended on a mixed note with Nifty Midcap 100 closing in the red and Nifty Smallcap 100 index ending nearly a percent higher. Barring PSU bank index, all sectoral indices ended in green with IT index settling over 3 percent higher. (Image: Reuters)
4. Crude Oil: Oil prices surged more than 5 percent on Monday after doctors said U.S. President Donald Trump could soon be discharged from the hospital where he is being treated for COVID-19, while six Norwegian offshore oil and gas fields were shut as more workers joined a strike. Brent crude rose $2.30, or 5.9 percent, to $41.57 a barrel. West Texas Intermediate crude gained $2.17, or 5.9 percent, to settle at $39.22 per barrel, reported CNBC International. (Image: Reuters)
5. Rupee Close: The Indian currency depreciated despite positively trading equity markets. The rupee ended at 73.29 against the US dollar as compared to Thursday's close of 73.13. (Image: Reuters)
6. Govt Appoints 3 New MPC Members: The Narendra Modi government has appointed Ashima Goyal, Shashanka Bhide and Jayanth Varma to Reserve Bank of India’s (RBI’s) Monetary Policy Committee (MPC). The trio have been appointed for a four-year term, CNBC-TV18 reported in an exclusive news break. Bhide, currently is a Senior Advisor to the National Council for Applied Economic Research. Goyal, is a professor at the Indira Gandhi Institute of Development Research in Mumbai. Similarly, Jayanth Varma is a professor at the Indian Institute of Management, Ahmedabad. (Image: PTI)
7. GST Council: The 42nd GST Council meeting is all set to discuss a whole host of issues proposing compliance relaxations, finding a solution to the on-going compensation cess issue of states and whether can the rate be reduced for ayurvedic hand sanitizers, sources told CNBC-TV18. The GST Council, which is set to meet on 5th October, will take a detailed view on the two options of borrowings given by centre, to states, to make good for lack of funds in the compensation cess kitty. "The Council is likely to revisit two options given by centre to meet compensation shortfall. As part of the revenue collections discussions, Centre will present a detailed calculation of GST Compensation cess collected and released so far," sources in the know elaborated. (Image: PTI)
8. SC On Loan Moratorium: The Supreme Court has deferred the next hearing to October 13, asking all affidavits to be filed by October 12. The apex court had asked the Centre and the Reserve Bank of India (RBI) to place on record the K V Kamath committee recommendation on debt restructuring due to COVID-19 related stress on various sectors as also the notifications and circulars issued by them so far on the issue of loan moratorium. The Kamath panel had made recommendations for 26 sectors that could be factored by lending institutions while finalizing loan resolution plans and had said that banks could adopt a graded approach based on the severity of the coronavirus pandemic in a sector. (Image: PTI)
9. SEBI Introduces Very High-Risk Category: Markets regulator Sebi on Monday revamped the product labelling on mutual fund schemes under the risk-o-meter by introducing "very high risk" category to warn investors. The existing five categories to measure risks are - low, low to moderate, moderate,moderately high, and high. Based on the scheme characteristics, mutual funds will assign a risk level for schemes at the time of launch of scheme/new fund offer, Securities and Exchange Board of India (Sebi) said in a circular. It further said any change in risk-o-meter will be communicated by way of notice-cum-addendum and by way of an e-mail or SMS to unitholders of that particular scheme. (Stock Image)
10. Overall Spend To Drop This Festive Season: Half of the festive shoppers will choose e-commerce this year for shopping compares to only 27 percent consumers last year, a survey by LocalCircles showed. However, the overall spend during the festive season will likely see a fall from last year, as per the survey, as more people will shop for lower ticket items and more will refrain from spending. "At an overall level, 61 percent consumers are expected to engage in festive spending this year as compared to 78 percent in 2019 and feedback suggests that a section of upper-middle-class consumers are likely to downgrade their spend,” said Sachin Taparia, Founder & Chairman of LocalCircles. (stock image)