Indian equity indexes are expected to start on a positive note tracking global cues. The Singapore-traded SGX Nifty was at levels around 11,510 vs Nifty August Future's Friday close of 11,488, indicating a positive opening on Dalal street on Monday.
Here is what you need to know before the market opens: Asia: Share markets crept cautiously higher on Monday as investors awaited developments on proposed Sino-US trade talks, while keeping a wary eye on the Chinese yuan and Turkish lira for any new signs of strain. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.3 percent in early trade, with South Korea leading the way with a rise of 0.6 percent. Japan’s Nikkei wavered either side of flat. US markets: The Dow Jones Industrial Average jumped 110.59 points to 25,669.32 after the Wall Street Journal said US and Chinese officials are working on a road map for the Trump-Xi Jinping meeting to take place. The S&P 500 also rose 0.3 percent to 2,850.13, while the Nasdaq Composite erased earlier losses to close 0.1 percent higher at 7,816.33. Crude oil: Brent was 12 cents lower at $71.71 a barrel, while US crude eased 13 cents to $65.78. Dollar index: The dollar index was steady at 96.129 on Monday, having fallen almost 0.6 percent at the end of last week. The euro held at $1.1435 after bouncing from a 13-month trough at $1.1297 last week, while the dollar was idling at 110.47 yen and just above recent lows at 110.11/31. Market at close: The Sensex closed at 37,947.88, higher by 284.32 points, while the Nifty 50 surged 85.70 points to 11,470.75. For the week, the Sensex surged by 0.3 percent, while the Nifty gained half a percent. Rupee: Money markets were closed on Friday. The day before the Indian rupee settled at its lowest closing level of 70.16, after touching an all-time low of 70.39-40 per dollar. FII & DII data: Foreign institutional investors (FIIs) bought shares worth Rs 147.31 crore and domestic institutional investors Rs 151.89 crore in the Indian equity market on Friday. Foreign investors have pumped over Rs 7,500 crore into the Indian capital markets so far this month on better corporate earnings coupled with improvement in crude oil prices. Current Account Deficit: India's current account deficit (CAD) will widen to 2.5 percent of the GDP in the current fiscal due to higher oil prices that has been accentuated by rupee depreciation, Moody's said. New tax audit form: The Central Board of Direct Taxes (CBDT) has put off till March 31, 2019, the proposed GST and GAAR reporting under the amended tax audit form. This dispensation would be available for tax audit reports to be furnished on or after August 20 but before April 1, 2019. Companies under scanner: Both the BSE and the NSE will together suspend Gitanjali Gems, Amtek Auto, Easun Reyroll and Panoramic Universal from September 10 for not complying with listing norms pertaining to submission of financial results. The BSE will suspend Thambbi Modern Spinning Mills, Indo Pacific Projects, Haryana Financial Corporation, Noble Polymers and Samruddhi Realty.