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10 things you need to know before the opening bell on August 21

Updated : 2019-08-21 07:37:15

Indian shares are expected to open lower on Wednesday amid selloffs in global markets over concerns of US-China trade war and in absence of any government actions on the economy. At 7:00 AM, the SGX Nifty futures traded 0.29 percent lower at 10,996.50, indicating a negative start for the Sensex and the Nifty.

1. Asia: MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.2 percent, snapping three straight days of gains. Japan's Nikkei slipped 0.6 percent, Australian shares were 0.8 percent lower and South Korea's KOSPI index was a shade weaker. (Image: Reuters)
1. Asia: MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.2 percent, snapping three straight days of gains. Japan's Nikkei slipped 0.6 percent, Australian shares were 0.8 percent lower and South Korea's KOSPI index was a shade weaker. (Image: Reuters)
2. US: The Dow Jones Industrial Average fell 173.35 points, or 0.66 percent, to 25,962.44, the S&P 500 lost 23.14 points, or 0.79 percent, to 2,900.51 and the Nasdaq Composite dropped 54.25 points, or 0.68 percent, to 7,948.56. (Image: Reuters)
2. US: The Dow Jones Industrial Average fell 173.35 points, or 0.66 percent, to 25,962.44, the S&P 500 lost 23.14 points, or 0.79 percent, to 2,900.51 and the Nasdaq Composite dropped 54.25 points, or 0.68 percent, to 7,948.56. (Image: Reuters)
3. Markets At Close On Tuesday: Indian shares ended marginally lower on Tuesday as cautious investors awaited more details on reports of a corporate tax rate cut by the government before making fresh bets. Losses in the IT and auto stocks were capped by gained in banking and FMCG indices. The 30-share benchmark Sensex settled 74 points down, or 0.2 percent, at 37,328. The broader 50-share NSE index ended mildly lower at 11,017, down 37 points, or 0.33 percent. (Image: Stock)
3. Markets At Close On Tuesday: Indian shares ended marginally lower on Tuesday as cautious investors awaited more details on reports of a corporate tax rate cut by the government before making fresh bets. Losses in the IT and auto stocks were capped by gained in banking and FMCG indices. The 30-share benchmark Sensex settled 74 points down, or 0.2 percent, at 37,328. The broader 50-share NSE index ended mildly lower at 11,017, down 37 points, or 0.33 percent. (Image: Stock)
4. Crude Oil: In commodities markets, US crude dipped 2 cents to $56.11 per barrel while Brent added 5 cents to $60.08. (Image: Reuters)
4. Crude Oil: In commodities markets, US crude dipped 2 cents to $56.11 per barrel while Brent added 5 cents to $60.08. (Image: Reuters)
5. Currency: The dollar index was on the defensive as it drifted away from a three-week top touched earlier on Monday. It was last flat at 98.208. The rupee fell 27 paise, at 71.70 against the US dollar. (Image: Reuters)
5. Currency: The dollar index was on the defensive as it drifted away from a three-week top touched earlier on Monday. It was last flat at 98.208. The rupee fell 27 paise, at 71.70 against the US dollar. (Image: Reuters)
6. Indirect Tax Evasion: At a time when the indirect tax collection is slipping below the desired growth, the Directorate general of goods and services tax intelligence (DGGI) has detected Rs 14,701 crore of evasion in the first quarter of the current fiscal. According to senior government officials, “the directorate general has detected the evasion across 815 cases of indirect tax and is currently investigating these cases.” (Image: Stock)
6. Indirect Tax Evasion: At a time when the indirect tax collection is slipping below the desired growth, the Directorate general of goods and services tax intelligence (DGGI) has detected Rs 14,701 crore of evasion in the first quarter of the current fiscal. According to senior government officials, “the directorate general has detected the evasion across 815 cases of indirect tax and is currently investigating these cases.” (Image: Stock)
7. PSB Loans in 59 Minutes: Public sector banks are gearing up to introduce retail products, including housing and auto loans, on 'psbloansin59minutes' portal with a view to expand their retail loan business. Currently, the portal gives in-principle approval for loans of up to Rs 1 crore to micro, small and medium enterprises (MSMEs) in just 59 minutes or less than an hour. However, some of the banks including State Bank of India, Union Bank of India, and Corporation Bank decided to extend in-principle approval to loans of up to Rs 5 crore through the portal. (Image: Reuters)
7. PSB Loans in 59 Minutes: Public sector banks are gearing up to introduce retail products, including housing and auto loans, on 'psbloansin59minutes' portal with a view to expand their retail loan business. Currently, the portal gives in-principle approval for loans of up to Rs 1 crore to micro, small and medium enterprises (MSMEs) in just 59 minutes or less than an hour. However, some of the banks including State Bank of India, Union Bank of India, and Corporation Bank decided to extend in-principle approval to loans of up to Rs 5 crore through the portal. (Image: Reuters)
8. US-China Trade War: President Donald Trump on Tuesday said he had to confront China over trade even if it caused short-term harm to the US economy because Beijing had been cheating Washington for decades. Trump's strongly-worded comments came hours before his government announced the approval of an $8 billion sale of Lockheed Martin F-16 fighter jets to Taiwan, a move sure to draw Beijing's ire and further dim prospects for a quick trade deal. (Image: Reuters)
8. US-China Trade War: President Donald Trump on Tuesday said he had to confront China over trade even if it caused short-term harm to the US economy because Beijing had been cheating Washington for decades. Trump's strongly-worded comments came hours before his government announced the approval of an $8 billion sale of Lockheed Martin F-16 fighter jets to Taiwan, a move sure to draw Beijing's ire and further dim prospects for a quick trade deal. (Image: Reuters)
9. RBI on Fraud: Reserve Bank deputy governor MK Jain Tuesday slammed banks for poor compliance with regulations, and pointed out that high-value frauds and fines are a result of their lackadaisical attitude on this. Jain said in some cases, the lack of compliance has been
9. RBI on Fraud: Reserve Bank deputy governor MK Jain Tuesday slammed banks for poor compliance with regulations, and pointed out that high-value frauds and fines are a result of their lackadaisical attitude on this. Jain said in some cases, the lack of compliance has been "recurring", wherein banks have also ignored RBI's instructions to commit the same mistakes time and again. (Image: Reuters)
10. SBI Report on RBI Repo Rate Cut: For effective transmission of the RBI's lower policy rates, the country's largest lender SBI on Tuesday suggested the regulator should ask banks to link incremental bulk deposits to repo rate as it would help in reducing the cost of funds without hurting small depositors and senior citizens. Reserve Bank of India Governor Shaktikanta Das has stressed the need for the entire banking system to link their loans and deposits pricing to the repo rate (short-term borrowing rate) prescribed by the central bank. A dozen public sector banks, including State Bank of India (SBI), have voluntarily linked their interest rates to the repo. (Image: Stock)
10. SBI Report on RBI Repo Rate Cut: For effective transmission of the RBI's lower policy rates, the country's largest lender SBI on Tuesday suggested the regulator should ask banks to link incremental bulk deposits to repo rate as it would help in reducing the cost of funds without hurting small depositors and senior citizens. Reserve Bank of India Governor Shaktikanta Das has stressed the need for the entire banking system to link their loans and deposits pricing to the repo rate (short-term borrowing rate) prescribed by the central bank. A dozen public sector banks, including State Bank of India (SBI), have voluntarily linked their interest rates to the repo. (Image: Stock)
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