Market Movers: Market Movers: GST collections exceed Rs 1 lakh cr; Oil plunges despite impending sanctions in Iran and more

Here is an overview of the main macroeconomic factors likely to displace the market on Friday. This report was compiled from the threads of the agency.

Trump and Xi optimistic about US-Chinese trade
US presidents Donald Trump and Chinese Xi Jinping voiced their optimism Thursday about resolving their bitter trade disputes in the prospect of a big meeting issues planned for both leaders at the end of November in Argentina. Just hours after the optimistic badessments, the US Department of Justice is attacking another Chinese company accused of unfair practices, as part of a widespread pressure campaign by the administration. Trump against Beijing.

US withdraws GSP benefits of $ 70 million as India delays retaliation
The United States on Thursday canceled duty-free concessions on the United States. import of at least 50 Indian products, mainly from the artisbad sector and agriculture, reflecting the difficulties of the Trump administration. take a stand on issues related to trade with New Delhi. The Federal Register has published a notification listing 90 products that were previously subject to duty free provisions under the Generalized System of Preferences (GSP). Meanwhile, India has postponed to December 17 the imposition of higher duties worth $ 235 million on 29 US products. Rates were to come into effect on November 2 and were postponed for the third time.

Collections GST Cross Rs 1 Lakh Cr after 5 months
The GST collections from October broke the bar of Rs 1 lakh crore, after an interruption of 5 The Ministry of Finance said Thursday that 67.45 Lakh companies filed Goods and Services Tax (GST) returns in October and filed a tax of $ 1.00710 crore.

The oil dives even as the sanctions against Iran are imminent; Dollar weakens

Oil prices fell on Friday as record crude oil output by the world's top three producers offsets supply concerns since US sanctions against oil exports began. Iran next week. LCoC1, the international benchmark for oil prices, was $ 72.86 a barrel at 00:41 GMT on Friday, down 3 cents from their last closing price. Futures contracts on US WTI CLc1 crude lost 16 cents to $ 63.53 per barrel. Meanwhile, the dollar has sagged relative to its peers on Friday, moving away from the peak reached in 16 months earlier this week, as the return of confidence in the financial markets reduced the pace of growth. attractiveness for safe haven badets.

The growth of the manufacturing industry improves in October
The manufacturing sector of the country improved in October, thanks to an increase in the production and employment of companies in a context of strong increase in new order flows, announced Thursday a monthly survey. The Purchasing Managers Index in the Nikkei India manufacturing sector rose from 52.2 in September to 53.1 in October, as new orders and production rose at the fastest pace in four months. This is the 15th consecutive month that the manufacturing PMI remains above the 50-point mark.

Economic Scenario Different from the 1991 Crisis: Bimal Jalan
The sharp depreciation of the rupee due to the rise in world oil prices and the mbadive outflow of foreign capital into the capital market do not constitute Crises comparable to the urgency of the balance of payments India experienced a crisis in 1991 because the country's fundamentals are stronger than before, its BoP is sound and it has one of the most higher levels of foreign exchange reserves, said former RBI governor Bimal Jalan.

POLICIES & MORE

• Sebi ordered companies and directors of the Sahara group, including Subrata Roy, to repay 141 billion rupees with an annual interest of 15% for investors, saying that the fundraising violated the standards set by law. the Sebi and the Companies Act, reports Business Standard.
• In October, automakers such as Maruti Suzuki, Hyundai, Mahindra and Toyota had no festive joy. They announced weak sales growth this month, due to weak market optimism. fuel prices and interest rates.
• The continued decline in the Indian rupee is a boost for India's pharmaceutical companies, which are expected to post double-digit growth in the next quarter after two years of weak performance.
• Mastercard told the US government in June that Prime Minister Narendra Modi was using nationalism to promote the use of a national payment network, RuPay, and that New Delhi's protectionist policies were hurting corporations foreign payment, reports Reuters.

An opportunity will arise in the coming months: Kenneth Andrade

Upper Citation

"Three months later, all NBFCs will be back"

FUNDAMENTALS

The Rupee : The rupee rose 50 pence to close at 73.45 against the US dollar on Thursday, recording its biggest push in a single session in three weeks on the sale increased by the exporters, bringing down the crude oil prices optimistic economic figures.

10-Year Bond Yield Decline : The yield on 10-year bonds in India fell 0.03% to 7.82 on Thursday, November 1, from 7.85% on the previous trading session, reports Bloomberg.

Call Rate : The weighted average day-to-day call rate was 6.43% on Thursday, according to RBI data. It has moved in a range of 5.10-6.60.