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10 things you need to know before the opening bell on August 7

Updated : 2019-08-07 07:49:34

Indian shares are likely to open lower on Wednesday ahead of the Reserve Bank of India’s monetary policy decision later in the day. According to a CNBC-TV18 poll, the central bank is likely to bring down the key repo rate by 25 basis points. Moreover, June quarter earnings and continued selling by FIIs may also weigh on Indian shares. Asian shares traded marginally higher after China took steps to stabilise yuan. BSE Sensex and NSE’s Nifty 50 closed nearly 0.8 percent higher in the previous session led by value buying in financial and auto stocks. At 7.26 AM, the SGX Nifty futures traded 55 points, or 0.55 percent, lower at 10,907, indicating a negative start for the Sensex and the Nifty 50.

1. Asia: Stocks in Asia Pacific traded mixed on Wednesday morning as investors waited for the People's Bank of China to set its daily midpoint fix for the Chinese yuan. In Japan, the Nikkei225 plunged 0.49 percent in early trade while South Korea's KOSPI added 0.36 percent. The MSCI Asia ex-Japan index was largely flat. (Image: AP)
1. Asia: Stocks in Asia Pacific traded mixed on Wednesday morning as investors waited for the People's Bank of China to set its daily midpoint fix for the Chinese yuan. In Japan, the Nikkei225 plunged 0.49 percent in early trade while South Korea's KOSPI added 0.36 percent. The MSCI Asia ex-Japan index was largely flat. (Image: AP)
2. US: U.S. stocks jumped more than 1 percent on Tuesday, bouncing back from a sharp sell-off the previous day as China stepped in to stabilise the yuan, easing concerns that currencies would be the next weapon in the U.S.-China trade war. The Dow Jones Industrial Average rose 1.21 percent, the S&P 500 gained 1.30 percent and the Nasdaq Composite added 1.39 percent. (Image: AP)
2. US: U.S. stocks jumped more than 1 percent on Tuesday, bouncing back from a sharp sell-off the previous day as China stepped in to stabilise the yuan, easing concerns that currencies would be the next weapon in the U.S.-China trade war. The Dow Jones Industrial Average rose 1.21 percent, the S&P 500 gained 1.30 percent and the Nasdaq Composite added 1.39 percent. (Image: AP)
3. Markets At Close On Tuesday: Indian shares ended higher on Tuesday, led by value buying in financial and auto stocks. The Sensex ended 277 points higher at 36,977 while the broader Nifty50 index added 86 points to end the day at 10,948. Meanwhile, FIIs sold shares worth Rs 2,108 crore, while DIIs bought equities worth Rs 2,289 crore on a net basis. The dollar index rose 0.01 percent to 97.53. The Indian Rupee closed at 70.81, higher by 7 paise or 0.10 percent. (Image: Reuters)
3. Markets At Close On Tuesday: Indian shares ended higher on Tuesday, led by value buying in financial and auto stocks. The Sensex ended 277 points higher at 36,977 while the broader Nifty50 index added 86 points to end the day at 10,948. Meanwhile, FIIs sold shares worth Rs 2,108 crore, while DIIs bought equities worth Rs 2,289 crore on a net basis. The dollar index rose 0.01 percent to 97.53. The Indian Rupee closed at 70.81, higher by 7 paise or 0.10 percent. (Image: Reuters)
4. Crude: Oil prices fell on Wednesday as the intensifying China-US trade dispute stoked worries over demand, although a drop in U.S. crude inventories offered some support to prices. International benchmark Brent crude futures were at $58.70 a barrel by 0039 GMT, down 24 cents, or 0.41 percent, and trading near seven-month lows. US WTI crude futures fell 20 cents, or 0.37 percent, from their last close to $53.43 per barrel. (Image: Reuters)
4. Crude: Oil prices fell on Wednesday as the intensifying China-US trade dispute stoked worries over demand, although a drop in U.S. crude inventories offered some support to prices. International benchmark Brent crude futures were at $58.70 a barrel by 0039 GMT, down 24 cents, or 0.41 percent, and trading near seven-month lows. US WTI crude futures fell 20 cents, or 0.37 percent, from their last close to $53.43 per barrel. (Image: Reuters)
5. NSE, SGX New Platform: The NSE and Singapore Exchange (SGX) have received all regulatory approvals to launch SGX Connect, a new joint platform that is likely to be functional from the NSE International Exchange at Gift City in Ahmedabad towards the end of 2020. (Image: Reuters)
5. NSE, SGX New Platform: The NSE and Singapore Exchange (SGX) have received all regulatory approvals to launch SGX Connect, a new joint platform that is likely to be functional from the NSE International Exchange at Gift City in Ahmedabad towards the end of 2020. (Image: Reuters)
6. Sebi Reward For Insider Trading: Any inside information on insider trading in the stock market can get the informant a reward of up to Rs 1 crore from Sebi, a hotline for sharing details to ensure confidentiality and a possible amnesty or settlement for minor wrongdoings in return for cooperation in the probe. Capital market regulator Sebi has prepared a detailed set of rules for a new 'Informant Mechanism' under its Prohibition of Insider Trading (PIT) Regulations and it would be presented for its board's approval later this month, officials said. (Image: Reuters)
6. Sebi Reward For Insider Trading: Any inside information on insider trading in the stock market can get the informant a reward of up to Rs 1 crore from Sebi, a hotline for sharing details to ensure confidentiality and a possible amnesty or settlement for minor wrongdoings in return for cooperation in the probe. Capital market regulator Sebi has prepared a detailed set of rules for a new 'Informant Mechanism' under its Prohibition of Insider Trading (PIT) Regulations and it would be presented for its board's approval later this month, officials said. (Image: Reuters)
7. Nirmala Sitharaman On Lending Rate Transmission: The finance ministry on Monday said banks have agreed to take steps to review lending rates as they have not
7. Nirmala Sitharaman On Lending Rate Transmission: The finance ministry on Monday said banks have agreed to take steps to review lending rates as they have not "commensurately" transmitted to borrowers benefits of reduction in the policy rate by the RBI. "Banks need to commensurately transmit rate cut benefit in lending. In the meeting, banks agreed to take steps as per RBI guidelines to review their lending rates," said an official release. (Getty Image)
8. Experts On MPC Outcome: With inflation under control, experts are expecting another 25 basis points rate cut by the RBI for a fourth time in a row to boost economic activities.<br />The Monetary Policy Committee (MPC), headed by RBI Governor Shaktikanta Das, is deliberating on the macro-economic situation, and is scheduled to announce its third bi-monthly policy of the ongoing fiscal on Wednesday. (Image: AP)
8. Experts On MPC Outcome: With inflation under control, experts are expecting another 25 basis points rate cut by the RBI for a fourth time in a row to boost economic activities.
The Monetary Policy Committee (MPC), headed by RBI Governor Shaktikanta Das, is deliberating on the macro-economic situation, and is scheduled to announce its third bi-monthly policy of the ongoing fiscal on Wednesday. (Image: AP)
9. SEBI Mulls Tighter Norms: Amid concerns over banks citing 'client confidentiality' to resist sharing of information on delayed loan repayments and possible defaults by their borrowers, capital market regulator Sebi is planning to tighten its norms to make it mandatory for companies to provide these details to credit rating agencies. Amid numerous cases of huge loan defaults by corporates, including in cases like Infrastructure Leasing and Financial Services Ltd (IL&FS), credit rating agencies have also come under the scanner for failing to flag potential credit risks of the securities and entities rated by them. (Image: Reuters)
9. SEBI Mulls Tighter Norms: Amid concerns over banks citing 'client confidentiality' to resist sharing of information on delayed loan repayments and possible defaults by their borrowers, capital market regulator Sebi is planning to tighten its norms to make it mandatory for companies to provide these details to credit rating agencies. Amid numerous cases of huge loan defaults by corporates, including in cases like Infrastructure Leasing and Financial Services Ltd (IL&FS), credit rating agencies have also come under the scanner for failing to flag potential credit risks of the securities and entities rated by them. (Image: Reuters)
10. Tyre Industry Demand Slowdown: Ratings agency Icra on Tuesday said demand slowdown will curtail tyre industry's revenue growth to 3-4 per cent in 2019-20, and margins are expected to decline. The credit profile of Indian tyre industry is likely to weaken in FY2020 affected by the ongoing slowdown in domestic automotive industry, rising raw material (RM) prices and higher spend towards debt-funded capacity expansion, Icra said in a statement.
10. Tyre Industry Demand Slowdown: Ratings agency Icra on Tuesday said demand slowdown will curtail tyre industry's revenue growth to 3-4 per cent in 2019-20, and margins are expected to decline. The credit profile of Indian tyre industry is likely to weaken in FY2020 affected by the ongoing slowdown in domestic automotive industry, rising raw material (RM) prices and higher spend towards debt-funded capacity expansion, Icra said in a statement. "Nevertheless, the long-term outlook on industry credit profile is stable," it added. (stock image)
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