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10 things you need to know before the opening bell on August 19

Updated : 2019-08-19 07:14:25

Indian benchmark indices the BSE Sensex and NSE’s Nifty 50 are likely to open marginally higher led by a positive trend in the global markets and hopes of new measures from the government to revive growth. However, continued selling by FPIs may cap gains. Foreign investors pulled out Rs 8,319 crore on a net basis from capital markets in the first half of August. At 7:00 AM, the SGX Nifty futures traded 0.18 percent higher, indicating a positive start for the Sensex and the Nifty.

1. Asia: Asian stocks rose as hopes of more stimulus from central banks around the world and steps being taken by major economies such as Germany and China soothed investors’ fears of a sharp global economic slump. In Japan, the Nikkei225 rose 0.87 percent, while the Topix added 0.62 percent. Overall, MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.25 percent.  (Image: Reuters)
1. Asia: Asian stocks rose as hopes of more stimulus from central banks around the world and steps being taken by major economies such as Germany and China soothed investors’ fears of a sharp global economic slump. In Japan, the Nikkei225 rose 0.87 percent, while the Topix added 0.62 percent. Overall, MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.25 percent.  (Image: Reuters)
2. US stocks rebounded on Friday as an ebbing bond rally and news of potential German economic stimulus brought buyers back to the equities market, closing the book on a tumultuous week, reported Reuters. The Dow rose 306.62 1.2 percent, the S&P 500 gained 1.44 percent and the Nasdaq added 1.67 percent. (Image: AP)
2. US stocks rebounded on Friday as an ebbing bond rally and news of potential German economic stimulus brought buyers back to the equities market, closing the book on a tumultuous week, reported Reuters. The Dow rose 306.62 1.2 percent, the S&P 500 gained 1.44 percent and the Nasdaq added 1.67 percent. (Image: AP)
3. Markets At Close On Friday: Equity benchmarks ended flat on Friday, as gains in banking and auto stocks were capped by losses in IT stocks. The indices ended over 0.6 percent lower for the week. The Sensex ended 39 points higher at 37,350, while the broader Nifty50 index added 18 points to end the day at 11,048. Meanwhile, foreign institutional investors (FII) sold Rs 1,339 crore in the cash market on net basis while domestic institutional investors bought Rs 1,058 crore. (Image: Reuters)
3. Markets At Close On Friday: Equity benchmarks ended flat on Friday, as gains in banking and auto stocks were capped by losses in IT stocks. The indices ended over 0.6 percent lower for the week. The Sensex ended 39 points higher at 37,350, while the broader Nifty50 index added 18 points to end the day at 11,048. Meanwhile, foreign institutional investors (FII) sold Rs 1,339 crore in the cash market on net basis while domestic institutional investors bought Rs 1,058 crore. (Image: Reuters)
4. Crude Oil prices rose in the morning of Asian trading hours. The international benchmark Brent crude futures contract added 0.75 percent to $59.08 per barrel, and U.S. crude futures gained 0.64 percent to $55.22 per barrel. (Image: AP)
4. Crude Oil prices rose in the morning of Asian trading hours. The international benchmark Brent crude futures contract added 0.75 percent to $59.08 per barrel, and U.S. crude futures gained 0.64 percent to $55.22 per barrel. (Image: AP)
5. Currency: The rupee recovered from early lows to close higher by 13 paise at 71.14 against the US currency on Friday in line with firm local equities, defying gains in the greenback overseas and foreign capital outflows. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.12 percent to 98.26. (Image: Reuters)
5. Currency: The rupee recovered from early lows to close higher by 13 paise at 71.14 against the US currency on Friday in line with firm local equities, defying gains in the greenback overseas and foreign capital outflows. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.12 percent to 98.26. (Image: Reuters)
6. Union finance minister Nirmala Sitharaman on Friday said her officials are in discussions with their counterparts in the PMO and once the talks are over, the government will figure out what remedial steps should be taken and announce the same. However, she refused to say if the government is planning to come out with a stimulus package to arrest the deepening slowdown, or ruled the possibility of one either. (Image: Reuters)
6. Union finance minister Nirmala Sitharaman on Friday said her officials are in discussions with their counterparts in the PMO and once the talks are over, the government will figure out what remedial steps should be taken and announce the same. However, she refused to say if the government is planning to come out with a stimulus package to arrest the deepening slowdown, or ruled the possibility of one either. (Image: Reuters)
7. Insolvency And Bankruptcy Code Amended: The government has notified the Insolvency and Bankruptcy Code (Amendment) Act, 2019, under which a deadline of 330 days has been set for completion of the corporate insolvency resolution process (CIRP), including litigation and other judicial processes. The new law aims to provide greater clarity on the permissibility of corporate restructuring schemes, rights and duties of authorised representatives of voters, manner of distribution of amounts among financial and operational creditors. (Image: Reuters)
7. Insolvency And Bankruptcy Code Amended: The government has notified the Insolvency and Bankruptcy Code (Amendment) Act, 2019, under which a deadline of 330 days has been set for completion of the corporate insolvency resolution process (CIRP), including litigation and other judicial processes. The new law aims to provide greater clarity on the permissibility of corporate restructuring schemes, rights and duties of authorised representatives of voters, manner of distribution of amounts among financial and operational creditors. (Image: Reuters)
8. The finance ministry has asked public sector banks (PSBs) to initiate a month-long consultation process with officers at branch level to seek suggestions on streamlining banking sector to help the country achieve USD 5-trillion economy in five years. According to a communication by the ministry to the heads of PSBs, it will be a bottom-up consultative process from the branch level onwards which will involve discussions at the branch or regional level, state level and national level. (Image: Reuters)
8. The finance ministry has asked public sector banks (PSBs) to initiate a month-long consultation process with officers at branch level to seek suggestions on streamlining banking sector to help the country achieve USD 5-trillion economy in five years. According to a communication by the ministry to the heads of PSBs, it will be a bottom-up consultative process from the branch level onwards which will involve discussions at the branch or regional level, state level and national level. (Image: Reuters)
9. Fitch Ratings On Developers: With non-bank financial companies (NBFCs) and housing finance companies becoming risk averse towards lending to real-estate sector, developers are likely to face a liquidity crisis, says a report. Majority of the developers with a weak balance sheet depend on the parallel banking sector for funds. These players are likely to be affected the most if the situation persists. (Image: IANS)
9. Fitch Ratings On Developers: With non-bank financial companies (NBFCs) and housing finance companies becoming risk averse towards lending to real-estate sector, developers are likely to face a liquidity crisis, says a report. Majority of the developers with a weak balance sheet depend on the parallel banking sector for funds. These players are likely to be affected the most if the situation persists. (Image: IANS)
10. Ujjivan Small Finance Bank IPO: Ujjivan Small Finance Bank has filed a draft prospectus for Rs 1,200 crore initial public offer with market regulator Securities and Exchange Board of India (Sebi). The bank is proposing to undertake an initial public offering of equity shares of the face value of Rs 10 each, comprising a fresh issue of shares aggregating up to Rs 12,000 million (Rs 1,200 crore) in accordance with the Companies Act, 2013, Ujjivan Financial Services said in a regulatory filing. (Stock Image)
10. Ujjivan Small Finance Bank IPO: Ujjivan Small Finance Bank has filed a draft prospectus for Rs 1,200 crore initial public offer with market regulator Securities and Exchange Board of India (Sebi). The bank is proposing to undertake an initial public offering of equity shares of the face value of Rs 10 each, comprising a fresh issue of shares aggregating up to Rs 12,000 million (Rs 1,200 crore) in accordance with the Companies Act, 2013, Ujjivan Financial Services said in a regulatory filing. (Stock Image)
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