Posted on by CNBC-TV18

10 things you need to know before the opening bell on June 5

A man looks at an electronic board showing the Nikkei stock index outside a brokerage in Tokyo
1. Asia: Stocks in Asia Pacific were mixed in Friday morning trade after major stock indexes on Wall Street snapped their winning streak overnight. In Japan, the Nikkei 225 dipped 0.31 percent in early trade while the Topix index shed 0.17 percent. South Korea’s Kospi, on the other hand, added 0.11 percent. Meanwhile, the S&P/ASX 200 declined 0.21 percent. Overall, the MSCI Asia ex-Japan index traded 0.05 percent lower. (image: Reuters)
2. US: Stocks were lower on Thursday, giving back some of the strong gains for June, as Wall Street grappled with disappointing jobs data and a late-day sell-off in tech shares. The S&P 500 slid 0.3 percent to 3,112.35 while the Nasdaq Composite dropped 0.7 percent to 9,615.81. It was the first decline in five sessions for both indexes. The Dow Jones Industrial Average closed just above the flatline, advancing 11 points, or 0.1 percent, to 26,281.82. (image: Reuters)
Market
3. Market At Close On Thursday: Indian shares ended lower after a volatile session on Thursday, following a more than 1,000-point rally in the last six sessions led by losses in financials. However, IT and pharma stocks capped the decline. The Sensex ended 129 points lower at 33,981, while the Nifty fell 32 points to settle at 10,029. Among sectors, Nifty Bank and Nifty Fin Services fell over 2.5 percent each while Nifty IT and Nifty Pharma rose 2 and 2.3 percent respectively. (Image: Reuters)
fuel
4. Crude Oil: Oil prices were little changed on Thursday as investors awaited a decision from top crude producers on whether to extend record output cuts. The Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, a group known as OPEC+, are debating when to hold ministerial talks to discuss a possible extension of the existing cuts. Brent crude futures were up 6 cents, or 0.2 percent, at $39.85 a barrel. West Texas Intermediate crude futures gained 12 cents to settle at $37.41 per barrel. (Image: Reuters)
INR vs USD, Indian rupee, rupee
5. Rupee Close: The rupee depreciated by 10 paise to close at 75.57 against the US dollar on Thursday as strengthening US dollar and weak domestic equities weighed on investor sentiment. The rupee opened weak at 75.62 at the interbank forex market and moved in between 75.38 and 75.62 in the day trade. The local unit settled at 75.57 against the US dollar, down 10 paise over its last close of 75.47. Forex traders said sustained foreign fund inflow and the revival of business activities supported the local unit, but concerns about US-China trade tiff dragged the local unit down. (Image Reuters)
6. Govt Looks To Create Consultancy Giant Through Merger Of PSUs: After oil and power sectors, the government now plans to create a public sector consultancy giant by bringing together about half a dozen smaller engineering companies and merging with much larger and profitable Engineers India Ltd (EIL). There are close to a dozen public sector undertakings (PSUs) that provide a range of consultancy services — from education, water services to engineering, procurement and construction (EPC). EIL is the biggest state-owned PSU which provides turn-key engineering solutions to projects in India and abroad. (Representational Image)
7. Govt Extends Anti-Dumping Duty On Certain Steel Items: The government has extended anti-dumping duty on certain variety of steel products till December 4 this year with a view to guard domestic manufacturers from cheap imports coming from China, Malaysia and Korea. The duty on imports of ‘hot rolled flat products of stainless steel 304 series’ from the said countries was first imposed by the finance ministry on June 5, 2015, for five years. The duty was imposed in the range of USD 180-316 per tonne. “The anti-dumping duty imposed…shall remain in force up to and inclusive of 4th December, 2020, unless revoked, superseded or amended earlier,” Department of Revenue said in a notification. (Image: AP)
India Malaysia palm oil imports
8. India’s May Palm Oil Imports Halve: India’s palm oil imports in May plunged 53 percent from a year ago to 387,006 tonnes as a nationwide lockdown to curb the spread of the novel coronavirus cut demand from hotels and restaurants, a leading trade body said on Thursday. Lower imports by India, the world’s biggest importer of edible oil, could put pressure on Malaysian palm oil prices. The country’s imports of soyoil also fell in May to 187,034 tonnes from 232,003 tonnes a year ago, while sunflower oil imports edged up 2 percent to 133,438 tonnes, provisional data published by the Solvent Extractors Association of India showed. (Image: Reuters)
9. Environmentalists Call For Stronger Nature Conservation Post COVID: The novel coronavirus has altered the lives of billions of humans in unprecedented ways, but what shone through is the resilience of nature. Air pollution levels down, animal communities freer to roam the planet, and clearer streams of water — restricted human activity has achieved what only years of organised environmental effort could have corrected. Wildlife biologist Latika Nath says that humans have for centuries been taking over habitats that were homes for fauna both on the land and in the oceans. According to environmental activist Arun Krisnamurthy, known for restoring scores of lakes across India, the biggest environmental gain out of this lockdown has to be that of air quality improving in most parts of India. (Stock Image)
10. World Food Price Index Hits 17-month Low In May: World food prices fell for a fourth consecutive month in May, hit by the economic fallout of the coronavirus pandemic which has stymied demand, the United Nations food agency said on Thursday. (Image: Reuters)