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10 things you need to know before the opening bell on August 17

SUMMARY

The Indian stock market is expected to open higher on Monday following Asian peers. At 7:47 am, the SGX Nifty traded 108 points higher at 11,293, indicating a strong start for the Sensex and the Nifty50.

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By CNBCTV18.com August 17, 2020, 7:53:14 AM IST (Published)

Investors look at computer screens showing stock information at a brokerage house in Shanghai
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1. Asia: Stocks in Asia Pacific traded lower Monday morning as tensions between the U.S. and China continue to weigh on investor sentiment. Japan’s Nikkei 225 slipped 0.37 percent in early trade while the Topix index dipped 0.16 percent.Shares in Australia also declined, with the S&P/ASX 200 down 0.27 percent. Overall, the MSCI Asia ex-Japan index traded little changed. Markets in South Korea are closed on Monday for a holiday. (Image: Reuters)

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2. US: U.S. stock futures rose on Sunday night after Wall Street logged in its third consecutive weekly gain, but fell short of breaking the all-time high set on Feb. 19. Dow Jones Industrial Average futures were up by 72 points, or 0.3 percent. S&P 500 and Nasdaq 100 futures each traded higher by 0.2 percent. The S&P 500 climbed 0.6 percent last week and the Nasdaq Composite advanced 0.1 percent. The Dow gained 1.8 percent last week. (Image: AP)

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3. Market At Close On Friday: Indian indices pared early gains to end over 1 percent lower on Friday dragged by banks and financial stocks. All key sectors, except metal and pharma, also turned negative weighing on the sentiment. Sentiment was also lowered as rising inflation raised doubts about a further rate cut by the RBI. The Sensex ended 433 points lower at 37,877 while the Nifty lost 122 points to settle at 11,178. Both benchmarks also ended in red for the week. Broader markets were also in line with benchmarks with midcap and smallcap indices down 0.8 percent and 1 percent, respectively. (Image: Reuters)

Saudi Arabia
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4. Crude Oil: Oil prices edged lower on Friday on worries that demand would recover more slowly than expected from COVID-19 pandemic lockdowns, while rising supply also overshadowed optimism over falling crude and fuel inventories. Brent crude fell 10 cents to $44.86 per barrel, while West Texas Intermediate settled 23 cents lower at $43.01 per barrel. This week, two prominent forecasters, the International Energy Agency and the Organization of the Petroleum Exporting Countries, trimmed their 2020 oil demand forecasts. OPEC and its allies are increasing output this month. (Image: Reuters)

Rupee
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5. Rupee Close: The Indian currency ended lower on Friday as data showing slow economic recovery and higher inflation dampened forex market sentiment. The rupee ended 6 paise lower to 74.90 against the US dollar as compared to its previous close of 74.84. (Image: Reuters)

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6. India On PPE Exports: India exported 23 lakh personal protection equipment to five countries including the US, the UK and the UAE in July, after the government relaxed export norms and this has substantially helped the country to position itself in the global market of these kits, the Union Health Ministry said. The other two countries are Senegal and Slovania, it said. According to the ministry, the 'Make in India' spirit "embedded in the Atmanirbhar Bharat Abhiyaan has resulted in providing resilience and self-sufficiency" to the country for various medical equipment including PPE. While the Union government is supplying PPE kits, N95 masks, ventilators etc., to the state governments and union territories administrations, states are also procuring these items directly. (Image: Reuters)

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7. Uday Kotak On Atmanirbhar Bharat: Uday Kotak, MD and CEO of Kotak Mahindra Bank and president of CII said that PM’s address was an address of confidence in COVID times combined with aspiration & hope. “India has to understand the global trend, which is instead of multilateralism to bilateralism. Move away from multilateralism because that is out of fashion as I see it. Second is for exporters, do everything that is required to be facilitated, like the MEIS scheme announced that this scheme will be available even if payment is made over a period of time because of the budgetary constraints. Therefore make sure that exporters do not get stopped in the middle. Exports is the key to India’s Atmanirbharta. Do whatever it takes for driving exports because that is the true test of a nation,” he said. (Image: Reuters)

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8. Bank Credit Grows 5.51%, Deposits 11.11%: Bank credit and deposits grew 5.51 per cent and 11.11 per cent to Rs 102.65 lakh crore and Rs 141.61 lakh crore, respectively, in the fortnight ended July 31, according to the latest data from the RBI. In the fortnight ended August 2, 2019, bank credit and deposits were at Rs 97.29 lakh crore and Rs 127.44 lakh crore, respectively. On a year-on-year (y-o-y) basis, non-food bank credit growth was at 6.7 per cent in June 2020, nearly the same as in May 2020 but lower than the growth of 11.1 per cent in June 2019. (Image: Reuters)

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9. 'India To Be Key US Partner In Biden Administration': A Biden administration would be an advocate for India to play a leading role in international institutions, including helping it get a seat on a reformed UN Security Council, a top campaign official has said, asserting that New Delhi has to be a key American partner in engaging China from a position of strength.  Participating in a panel discussion on "US-India Relations and Indian Americans in Joe Biden Administration'", former diplomat Tony Blinken said on Saturday that the former vice president, if elected in the November elections, will help India get a seat at the UN Security Council and strengthen US' defence ties with India. (Image: Rueters)

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10. India Sends Team To Mauritius: India has sent technical equipment and a team of specialists to Mauritius to help local authorities deal with an environmental crisis after an oil spill from a Japanese ship, a government official said on Sunday. A Japanese bulk carrier struck a coral reef off the Indian Ocean island nation on July 25, spilling about 1,000 tonnes of fuel oil and triggering a state of "environmental emergency". The carrier split on Saturday, and the oil spill spread over a vast area of endangered corals, fish and other marine life in what some scientists called the country's worst ecological disaster. (Image: Reuters)

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