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10 things you need to know before the opening bell on August 20

Updated : 2019-08-20 07:40:52

Indian shares are set for a mixed start on Tuesday as markets await a relief package from the government to revive growth. Meanwhile, gains in Asian markets and the government’s plan to revise tax rates for the individual taxpayers and corporates may lend support. At 7:20 AM, the SGX Nifty futures traded 25 points, or 0.23 percent, lower at 11,031.50, pointing to a muted start for the Sensex the Nifty.

1. Global markets: Asian shares extended their gains on Tuesday as hopes for stimulus in major economies tempered anxiety about a global recession, helping boost riskier assets and drawing money from safe-havens such as bonds and gold, reported Reuters. MSCI's broadest index of Asia-Pacific shares outside Japan nudged up 0.04 percent, while Japan's Nikkei jumped 0.47 percent. The improved mood was helped by a rally on Wall Street overnight, with the S&P 500 gaining 1.21 percent. (Image: Reuters)
1. Global markets: Asian shares extended their gains on Tuesday as hopes for stimulus in major economies tempered anxiety about a global recession, helping boost riskier assets and drawing money from safe-havens such as bonds and gold, reported Reuters. MSCI's broadest index of Asia-Pacific shares outside Japan nudged up 0.04 percent, while Japan's Nikkei jumped 0.47 percent. The improved mood was helped by a rally on Wall Street overnight, with the S&P 500 gaining 1.21 percent. (Image: Reuters)
2. US stocks climbed on Monday as reports of stimulus efforts in China and Germany calmed fears of a severe downturn in the global economy that were stoked last week as bond yields fell, reported Reuters. The Dow Jones Industrial Average rose 249.78 points, or 0.96 percent, to 26,135.79, the S&P 500 gained 34.97 points, or 1.21 percent, to 2,923.65 and the Nasdaq Composite added 106.82 points, or 1.35 percent, to 8,002.81. (Image: Reuters)
2. US stocks climbed on Monday as reports of stimulus efforts in China and Germany calmed fears of a severe downturn in the global economy that were stoked last week as bond yields fell, reported Reuters. The Dow Jones Industrial Average rose 249.78 points, or 0.96 percent, to 26,135.79, the S&P 500 gained 34.97 points, or 1.21 percent, to 2,923.65 and the Nasdaq Composite added 106.82 points, or 1.35 percent, to 8,002.81. (Image: Reuters)
3. Markets At Close On Monday: Equity benchmarks slipped from highs but closed in the green after financial and auto stocks came under selling pressure towards the fag-end of the session. The Sensex ended 52.16 points higher at 37,402.49, while the broader Nifty50 index added 6.10 points to end the day at 11,053.90. Meanwhile, foreign institutional investors (FII) sold Rs 306 crore in the cash market on net basis while domestic institutional investors bought Rs 386 crore. (Image: Reuters)
3. Markets At Close On Monday: Equity benchmarks slipped from highs but closed in the green after financial and auto stocks came under selling pressure towards the fag-end of the session. The Sensex ended 52.16 points higher at 37,402.49, while the broader Nifty50 index added 6.10 points to end the day at 11,053.90. Meanwhile, foreign institutional investors (FII) sold Rs 306 crore in the cash market on net basis while domestic institutional investors bought Rs 386 crore. (Image: Reuters)
4. Crude Oil prices: In the oil market, U.S. West Texas Intermediate futures fell 0.41 percent to $55.98 a barrel in a sign of receding concern about tension in the Middle East, but some traders warn this lull could be temporary. (Image: AP)
4. Crude Oil prices: In the oil market, U.S. West Texas Intermediate futures fell 0.41 percent to $55.98 a barrel in a sign of receding concern about tension in the Middle East, but some traders warn this lull could be temporary. (Image: AP)
5. Currency: The Indian rupee tumbled 29 paise to close at an over six-month low of 71.43 against the US dollar on Monday amid growing worries over an economic slump and sustained foreign fund outflows.  Further, rising crude oil prices and strengthening of the US dollar vis-a-vis other currencies overseas also took a toll on the Indian currency. (Image: Reuters)
5. Currency: The Indian rupee tumbled 29 paise to close at an over six-month low of 71.43 against the US dollar on Monday amid growing worries over an economic slump and sustained foreign fund outflows.  Further, rising crude oil prices and strengthening of the US dollar vis-a-vis other currencies overseas also took a toll on the Indian currency. (Image: Reuters)
6. US-India trade tensions: A top American lawmaker has urged the Trump Administration to resolve the trade tension with India as soon as possible, saying the dispute benefits none.
6. US-India trade tensions: A top American lawmaker has urged the Trump Administration to resolve the trade tension with India as soon as possible, saying the dispute benefits none. "This ongoing trade dispute does not benefit either nation and it is hurting Californians. India has long been a friend and strategic partner of the United States, and I urge you to work toward resolving trade tensions with India as quickly as possible," Senator Dianne Feinstein said in a letter to US Trade Representative Robert Lighthizer. (Image: Reuters)
7. Shaktikanta Das On Public Sector Banks: After over a dozen public sector banks, including State Bank, have voluntarily linked their loans and deposits pricing to the repo rate, Reserve Bank governor Shaktikanta Das Monday stressed on the need for the entire system switching to this model, saying such a moved can speed up the monetary transmission process. While SBI was to first one to link its loans and deposits to the repo rate from May and home loans from July, six other peer banks announced the same last week under which the asset side pricing has moved down fast. (Image: Reuters)
7. Shaktikanta Das On Public Sector Banks: After over a dozen public sector banks, including State Bank, have voluntarily linked their loans and deposits pricing to the repo rate, Reserve Bank governor Shaktikanta Das Monday stressed on the need for the entire system switching to this model, saying such a moved can speed up the monetary transmission process. While SBI was to first one to link its loans and deposits to the repo rate from May and home loans from July, six other peer banks announced the same last week under which the asset side pricing has moved down fast. (Image: Reuters)
8. SEBI To Ease Buyback Norms: Capital markets regulator Sebi is planning to ease its norms for buyback of shares by listed companies, especially those having subsidiaries in housing finance and NBFC sectors. According to top officials, a proposal in this regard is expected to be discussed by Sebi's board at its meeting this week. The repurchase of shares by listed companies is governed by the Buyback Regulations of the Securities and Exchange Board of India (Sebi) as well as by the Companies Act. (Image: Reuters)
8. SEBI To Ease Buyback Norms: Capital markets regulator Sebi is planning to ease its norms for buyback of shares by listed companies, especially those having subsidiaries in housing finance and NBFC sectors. According to top officials, a proposal in this regard is expected to be discussed by Sebi's board at its meeting this week. The repurchase of shares by listed companies is governed by the Buyback Regulations of the Securities and Exchange Board of India (Sebi) as well as by the Companies Act. (Image: Reuters)
9. Government Removes Debenture Reserve Requirement For HFCs: The government has removed the redemption reserve requirement for issuance of debentures by non-banking financial companies, housing finance companies and listed firms, a move aimed at reducing cost for raising capital. <wbr />Under the companies law, these entities raising money had to create Debenture Redemption Reserve (DRR) and that requirement has now been done away with. (Stock Image)
9. Government Removes Debenture Reserve Requirement For HFCs: The government has removed the redemption reserve requirement for issuance of debentures by non-banking financial companies, housing finance companies and listed firms, a move aimed at reducing cost for raising capital. Under the companies law, these entities raising money had to create Debenture Redemption Reserve (DRR) and that requirement has now been done away with. (Stock Image)
10. Government Considers Amendments In RERA: The government may consider amendments in the real estate law RERA, if required, to make it more effective, Housing and Urban Affairs Secretary Durga Shankar Mishra said on Monday. Addressing NAREDCO's real estate conference, he said the Housing and Urban Affairs Ministry will soon take up the model tenancy law to the Cabinet for approval and then the same will be circulated to states for implementation. (Image: Reuters)
10. Government Considers Amendments In RERA: The government may consider amendments in the real estate law RERA, if required, to make it more effective, Housing and Urban Affairs Secretary Durga Shankar Mishra said on Monday. Addressing NAREDCO's real estate conference, he said the Housing and Urban Affairs Ministry will soon take up the model tenancy law to the Cabinet for approval and then the same will be circulated to states for implementation. (Image: Reuters)
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