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10 things you need to know before the opening bell on August 13

Updated : 2019-08-13 07:26:47

Indian shares are likely to open higher on Tuesday amid expectations the government will address tax concerns and announce steps to revive economic growth. Meanwhile, Asian shares traded lower due to the weak sentiment arising from the US-China trade war and turbulence amongst protesters in Hong Kong. At 07:05 AM, the SGX Nifty futures traded 0.23 percent up at 11,116, indicating a positive start for the Sensex and the Nifty.

1. Asia: Asian shares fell on Tuesday as fears about a drawn out Sino-U.S. trade war, protests in Hong Kong and a crash in Argentina's peso currency drove investors to safe harbours like bonds, gold, and the yen. Japan’s Nikkei average dropped 1.48 percent in early trade, while Australian stocks declined and South Korean stocks slipped 0.63  percent. (Image: Reuters)
1. Asia: Asian shares fell on Tuesday as fears about a drawn out Sino-U.S. trade war, protests in Hong Kong and a crash in Argentina's peso currency drove investors to safe harbours like bonds, gold, and the yen. Japan’s Nikkei average dropped 1.48 percent in early trade, while Australian stocks declined and South Korean stocks slipped 0.63  percent. (Image: Reuters)
2. US: U.S. stocks dropped in a broad sell-off on Monday as simmering geopolitical tensions spooked equity investors and drove a bond market rally while the protracted U.S.-China trade war stoked fears of impending recession, reported Reuters. The Dow Jones Industrial Average fell 391 points, or 1.49 percent, to 25,896.44, the S&P 500 lost 35.96 points, or 1.23 percent, to 2,882.69 and the Nasdaq Composite dropped 95.73 points, or 1.2 percent, to 7,863.41. (Image: AP)
2. US: U.S. stocks dropped in a broad sell-off on Monday as simmering geopolitical tensions spooked equity investors and drove a bond market rally while the protracted U.S.-China trade war stoked fears of impending recession, reported Reuters. The Dow Jones Industrial Average fell 391 points, or 1.49 percent, to 25,896.44, the S&P 500 lost 35.96 points, or 1.23 percent, to 2,882.69 and the Nasdaq Composite dropped 95.73 points, or 1.2 percent, to 7,863.41. (Image: AP)
3. Markets At Close On Friday: Equity benchmarks defied gravity for the second straight session on Friday on expectations of measures from the Centre to jumpstart the sluggish economy and assuage investor concerns over taxation. After rallying 480 points during the day, the 30-share BSE Sensex settled 254.55 points or 0.68 percent higher at 37,581.91.  (Image: Reuters)
3. Markets At Close On Friday: Equity benchmarks defied gravity for the second straight session on Friday on expectations of measures from the Centre to jumpstart the sluggish economy and assuage investor concerns over taxation. After rallying 480 points during the day, the 30-share BSE Sensex settled 254.55 points or 0.68 percent higher at 37,581.91.  (Image: Reuters)
4. Crude Oil: Oil prices edged lower on Tuesday, offsetting narrow gains in the previous session, on the expectation major producers would continue to reduce global supplies due to a slowing economic growth outlook. International benchmark Brent crude futures were down 11 cents or 0.2 percent, from the previous settlement, to $58.46 a barrel by 0108 GMT. U.S. West Texas Intermediate (WTI) futures were $54.81 per barrel, down 12 cents, or 0.2 percent, from the last close. (Image: Reuters)
4. Crude Oil: Oil prices edged lower on Tuesday, offsetting narrow gains in the previous session, on the expectation major producers would continue to reduce global supplies due to a slowing economic growth outlook. International benchmark Brent crude futures were down 11 cents or 0.2 percent, from the previous settlement, to $58.46 a barrel by 0108 GMT. U.S. West Texas Intermediate (WTI) futures were $54.81 per barrel, down 12 cents, or 0.2 percent, from the last close. (Image: Reuters)
5. Nirmala Sitharaman Meets Realtors: The government on Sunday said it will soon address issues affecting the real estate sector after industry bodies and homebuyers met Finance Minister Nirmala Sitharaman to flag their concerns regarding liquidity crunch, demand slowdown and stalled projects. The finance minister on Sunday held two separate meetings -- the first with the two apex realtors' industry bodies CREDAI and NAREDCO, and the second with homebuyer associations, to discuss the issues concerning the real estate sector. ( Getty Image)
5. Nirmala Sitharaman Meets Realtors: The government on Sunday said it will soon address issues affecting the real estate sector after industry bodies and homebuyers met Finance Minister Nirmala Sitharaman to flag their concerns regarding liquidity crunch, demand slowdown and stalled projects. The finance minister on Sunday held two separate meetings -- the first with the two apex realtors' industry bodies CREDAI and NAREDCO, and the second with homebuyer associations, to discuss the issues concerning the real estate sector. ( Getty Image)
6.  On Economy: The government is working on a set of measures to remove friction points in the economy with a view to ensuring easy availability of funds to productive sectors and stimulate overall growth, sources said. However, the strategy being worked out does not include proposal for reduction of GST rates as the government believes that taxes are already lower than in the past, they added. (Image: Reuters)
6.  On Economy: The government is working on a set of measures to remove friction points in the economy with a view to ensuring easy availability of funds to productive sectors and stimulate overall growth, sources said. However, the strategy being worked out does not include proposal for reduction of GST rates as the government believes that taxes are already lower than in the past, they added. (Image: Reuters)
7. PSBs Cut Lending Rates: Nudged by the regulator and government, more state-run lenders Friday joined their larger peer SBI to slash lending rates with lenders like Bank of<br />India, Syndicate, Andhra, IOB, and Canara among others announcing 10-30 bps reduction in their loan pricing. (Image: Reuters)
7. PSBs Cut Lending Rates: Nudged by the regulator and government, more state-run lenders Friday joined their larger peer SBI to slash lending rates with lenders like Bank of
India, Syndicate, Andhra, IOB, and Canara among others announcing 10-30 bps reduction in their loan pricing. (Image: Reuters)
8. SEBI Eases Investment Norms: Sebi on Friday said investment provisions for domestic Alternative Investment Funds (AIFs) will also be applicable for such entities operating in international financial services centre (IFSC).
8. SEBI Eases Investment Norms: Sebi on Friday said investment provisions for domestic Alternative Investment Funds (AIFs) will also be applicable for such entities operating in international financial services centre (IFSC). "Accordingly, AIFs incorporated in IFSC shall be permitted to make investments as per the provisions of the Sebi (Alternative Investment Fund) Regulations, 2012, and the guidelines and circulars issued there under, including the operating guidelines for AIFs in IFSC," it said. (Image: Reuters)
9. Government FDI In Contract Manufacturing: The government is working on a proposal to allow 100 percent FDI in contract manufacturing with a view to attract overseas investments, sources said. According to the existing foreign investment policy, 100 percent foreign direct investment (FDI) is permitted in the manufacturing sector under the automatic route. (Image: Reuters)
9. Government FDI In Contract Manufacturing: The government is working on a proposal to allow 100 percent FDI in contract manufacturing with a view to attract overseas investments, sources said. According to the existing foreign investment policy, 100 percent foreign direct investment (FDI) is permitted in the manufacturing sector under the automatic route. (Image: Reuters)
10. FPI Selling: Continuing with their selling spree, foreign investors pulled out a net amount of Rs 9,197 crore in just seven trading sessions in August due to unconducive domestic and global factors. According to latest depositories data, foreign portfolio investors (FPIs) withdrew a net amount of Rs 11,134.60 from equities while pumping in Rs 1,937.54 into the debt segment during August 1-9, taking the total net withdrawal to Rs 9,197.06 crore. (Image: Reuters)
10. FPI Selling: Continuing with their selling spree, foreign investors pulled out a net amount of Rs 9,197 crore in just seven trading sessions in August due to unconducive domestic and global factors. According to latest depositories data, foreign portfolio investors (FPIs) withdrew a net amount of Rs 11,134.60 from equities while pumping in Rs 1,937.54 into the debt segment during August 1-9, taking the total net withdrawal to Rs 9,197.06 crore. (Image: Reuters)
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