Indian equity indices, the BSE Sensex and the NSE Nifty 50, are set for a tepid start on Monday owing to weak global cues. The Singapore-traded SGX Nifty traded at levels around 11,590 vs Nifty September Future's Friday close of 11,633, indicating a weak opening on Dalal Street today.
Here is what you need to know before the market opens
Asia: Market started the week in the red again on Monday. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.2 percent after dropping 3.5 percent last week. Japan's Nikkei opened lower but quickly pared losses. Australia's benchmark share index slipped 0.2 percent, while South Korea's KOSPI index eased 0.1 percent.
US: The Dow Jones Industrial Average fell 79.33 points, or 0.31 percent, to 25,916.54, the S&P 500 lost 6.37 points, or 0.22 percent, to 2,871.68 and the Nasdaq Composite Index dropped 20.19 points, or 0.25 percent, to 7,902.54.
Dollar: The euro held at $1.1555 after two straight sessions of losses while the yen traded in a narrow range, changing hands at 110.98. The dollar index, which measures the greenback against a basket of six currencies, was basically flat at 95.381, not far off a three-week high of 95.737 hit on Tuesday last week.
Crude oil prices: Prices were slightly firmer after three straight days of losses with US crude futures up 35 cents at $68.1 per barrel. Brent crude futures added 37 cents to $77.20 a barrel.
Market at close: The BSE Sensex settled 147 points, or 0.38 percent higher at 38,389 on Friday, while the NSE Nifty50 closed the day 52 points, or 0.45 percent higher at 11,589. For the week, both indices slipped lower on account of weakness in the Indian rupee, higher crude prices and Sebi circular revised guidelines on foreign portfolio investors.
Rupee: The rupee on Friday closed higher by 26 paise at 71.73 against the US dollar after heavy intervention by the Reserve Bank of India (RBI).
US-China trade war: President Donald Trump said on Friday that he's prepared to impose tariffs on an additional $267 billion in Chinese imports. These potential tariffs would come on top of tariffs Trump has said he's poised to slap on $200 billion worth of Chinese goods and in addition to tariffs his administration has already imposed on $50 billion in Chinese imports, for which Beijing has retaliated with an equal amount of import taxes on US goods.
Japanese economy: Revised Cabinet office data out on Monday showed the economy grew an annualised 3.0 percent in April-June, handily beating economists’ median estimate for 2.6 percent gain and posting the fastest growth since first-quarter 2016. The preliminary reading was for a 1.9 percent expansion.
Mutual Fund data: Assets under management of the Mutual Fund Industry saw a 9 percent month-on-month jump in August 2018 and increased to a record high of Rs 25.20 lakh crore, as per AMFI data. Equity assets increased by 4.2 percent and reached Rs 8.04 lakh crore.
Sebi probe: The capital markets regulator may soon summon ICICI Bank's on-leave CEO Chanda Kochhar and her husband with regard to a probe into alleged regulatory lapses with regard to his business dealings, officials said.
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