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10 things you need to know before the opening bell on August 30

Updated : 2019-08-30 07:15:53

Indian shares are likely to open little changed on Friday, tracking gains in Asian stocks but worries over the US-China trade talks are likely to weigh on investor sentiment. Wall Street rallied on Thursday, led by strong gains in the technology and industrial sectors. At 7:00 AM, the SGX Nifty futures traded higher by 0.05 percent, or 5.50 points, at 11,013.50.

1. Asia: Asian shares ticked higher on Friday as China struck a hopeful tone on trade with the United States but continued fears about a global growth slowdown, or even a recession, capped sharp rallies, reported by Reuters. MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.4 percent but stayed near a recent 7-1/2 month trough.  Japan's Nikkei jumped 1 percent while South Korea's KOSPI index gained 1.3 percent and Australian shares rose 0.7 percent. (Image: AP)
1. Asia: Asian shares ticked higher on Friday as China struck a hopeful tone on trade with the United States but continued fears about a global growth slowdown, or even a recession, capped sharp rallies, reported by Reuters. MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.4 percent but stayed near a recent 7-1/2 month trough.  Japan's Nikkei jumped 1 percent while South Korea's KOSPI index gained 1.3 percent and Australian shares rose 0.7 percent. (Image: AP)
2. US: U.S. stocks rallied more than 1% on Thursday, buoyed by gains in the trade-sensitive technology and industrial sectors as China expressed hope on trade negotiations with the United States, easing concerns that rising tensions could stoke a recession, reported by Reuters. The Dow Jones Industrial Average rose 326.15 points, or 1.25 percent, to 26,362.25, the S&P 500 gained 36.63 points, or 1.27 percent, to 2,924.57 and the Nasdaq Composite added 116.51 points, or 1.48 percent, to 7,973.39. (Image: Reuters)
2. US: U.S. stocks rallied more than 1% on Thursday, buoyed by gains in the trade-sensitive technology and industrial sectors as China expressed hope on trade negotiations with the United States, easing concerns that rising tensions could stoke a recession, reported by Reuters. The Dow Jones Industrial Average rose 326.15 points, or 1.25 percent, to 26,362.25, the S&P 500 gained 36.63 points, or 1.27 percent, to 2,924.57 and the Nasdaq Composite added 116.51 points, or 1.48 percent, to 7,973.39. (Image: Reuters)
3. Markets At Close On Thursday: Indian shares ended sharply lower on Thursday with the Nifty50 settling August series below the 11,000 mark. This is the third time benchmark equity indices have closed the series in the red. Trade sentiment remained tepid as fears of a global recession and worsening US-China trade relations dented risk appetite in equities. The Sensex ended 382 points lower at 37,068 while the Nifty50 lost 97 points to end at 10,948. Meanwhile, foreign institutional investors sold Rs 987 crore in the cash market while domestic institutional investors bought Rs 489 crore. (Image: Reuters)
3. Markets At Close On Thursday: Indian shares ended sharply lower on Thursday with the Nifty50 settling August series below the 11,000 mark. This is the third time benchmark equity indices have closed the series in the red. Trade sentiment remained tepid as fears of a global recession and worsening US-China trade relations dented risk appetite in equities. The Sensex ended 382 points lower at 37,068 while the Nifty50 lost 97 points to end at 10,948. Meanwhile, foreign institutional investors sold Rs 987 crore in the cash market while domestic institutional investors bought Rs 489 crore. (Image: Reuters)
4. Currency: The rupee gave up most of its losses to close down by 3 paise at 71.80 against the US currency on Thursday even as uncertainty over the US-China trade talks and recession fears kept investors on edge. Losses in domestic equity markets and unabated foreign fund outflows hit the rupee sentiment, forex dealers said. (Image: Reuters)
4. Currency: The rupee gave up most of its losses to close down by 3 paise at 71.80 against the US currency on Thursday even as uncertainty over the US-China trade talks and recession fears kept investors on edge. Losses in domestic equity markets and unabated foreign fund outflows hit the rupee sentiment, forex dealers said. (Image: Reuters)
5. Crude Oil: U.S. crude slipped 6 cents, or 0.1 percent, to $56.65 a barrel while Brent was down 10 cents, or 0.2 percent, at $60.98 a barrel. (Image: AP)
5. Crude Oil: U.S. crude slipped 6 cents, or 0.1 percent, to $56.65 a barrel while Brent was down 10 cents, or 0.2 percent, at $60.98 a barrel. (Image: AP)
6. Bank Frauds Jump 15 Percent YoY: The number of cases of frauds reported by banks saw a jump of 15 per cent year-on-year basis in 2018-19, with the amount involved increasing by 73.8 percent in the year, RBI's annual report showed. In FY19, banking sector reported 6,801 frauds involving Rs 71,542.93 crore as against 5,916 cases involving Rs 41,167.04 crore reported in 2017-18. (Image: AP)
6. Bank Frauds Jump 15 Percent YoY: The number of cases of frauds reported by banks saw a jump of 15 per cent year-on-year basis in 2018-19, with the amount involved increasing by 73.8 percent in the year, RBI's annual report showed. In FY19, banking sector reported 6,801 frauds involving Rs 71,542.93 crore as against 5,916 cases involving Rs 41,167.04 crore reported in 2017-18. (Image: AP)
structural in nature, barring those around land, labour and agri produce marketing. (Image: Reuters)" data-original="https://images.cnbctv18.com/wp-content/uploads/2019/08/2019-08-07T063803Z_1_LYNXNPEF760CJ_RTROPTP_4_INDIA-ECONOMY-RATES.jpg" > 7. RBI On Growth Deceleration: The Reserve Bank says the ongoing growth deceleration is a structural in nature, barring those around land, labour and agri produce marketing. (Image: Reuters)" title="7. RBI On Growth Deceleration: The Reserve Bank says the ongoing growth deceleration is a "soft patch mutating into a cyclical downswing", and has underlined reviving consumption and private investment should be the highest priority for policymakers and government. In the annual report for FY19, released Thursday, the central bank concedes that diagnosing the exact problems is "difficult", but reiterates that the issues are not
structural in nature, barring those around land, labour and agri produce marketing. (Image: Reuters)">
7. RBI On Growth Deceleration: The Reserve Bank says the ongoing growth deceleration is a "soft patch mutating into a cyclical downswing", and has underlined reviving consumption and private investment should be the highest priority for policymakers and government. In the annual report for FY19, released Thursday, the central bank concedes that diagnosing the exact problems is "difficult", but reiterates that the issues are not
structural in nature, barring those around land, labour and agri produce marketing. (Image: Reuters)
8. E-commerce On Information Disclosure: E-commerce players need to practise fair and transparent information disclosures while giving utmost importance to consumers' consent, privacy and interest, a new study said on Thursday while listing out a detailed set of voluntary guidelines for all stakeholders involved in this industry, said a report by Chase India. The suggested guidelines focus on various key issues such as important disclosures about sellers, products, payments and dispute resolution and also advocate greater proactive participation from the government and the civil society to sensitise online consumers about nuances of the business. (Representational Image)
8. E-commerce On Information Disclosure: E-commerce players need to practise fair and transparent information disclosures while giving utmost importance to consumers' consent, privacy and interest, a new study said on Thursday while listing out a detailed set of voluntary guidelines for all stakeholders involved in this industry, said a report by Chase India. The suggested guidelines focus on various key issues such as important disclosures about sellers, products, payments and dispute resolution and also advocate greater proactive participation from the government and the civil society to sensitise online consumers about nuances of the business. (Representational Image)
9. ICRA Says PV Sales Likely To Decline: Passenger vehicle sales in India is likely to decline in the range of 4-7 percent this fiscal saying agricultural output, revival in economic and industrial growth would be critical for auto sector's growth despite recent government measures to rekindle demand. The auto industry has already registered a 21.6 percent plus de-growth in the first four months of 2019-20.
9. ICRA Says PV Sales Likely To Decline: Passenger vehicle sales in India is likely to decline in the range of 4-7 percent this fiscal saying agricultural output, revival in economic and industrial growth would be critical for auto sector's growth despite recent government measures to rekindle demand. The auto industry has already registered a 21.6 percent plus de-growth in the first four months of 2019-20. "As per ICRA's analysis of the auto sector, the likely decline in passenger vehicles is estimated to be in the range of 4-7 percent and 0-5 percent decline for M&HCV trucks in FY2020," the rating agency said in a statement. (Image: Reuters)
10. Q1 GDP Data Today: The Indian economy likely expanded at its slowest pace in more than five years in the April-June quarter, driven by weak investment growth and sluggish demand, economists polled by Reuters said.
10. Q1 GDP Data Today: The Indian economy likely expanded at its slowest pace in more than five years in the April-June quarter, driven by weak investment growth and sluggish demand, economists polled by Reuters said.
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