• SENSEX
    NIFTY 50
Market

10 things you need to know before the opening bell on August 8

Updated : 2019-08-08 08:07:29

Indian shares are likely to open flat on Thursday amid volatile trades in global markets and rising tensions between India and Pakistan. Asian shares traded mixed as easings by central banks stoked fears of the global recession. BSE Sensex and NSE’s Nifty 50 fell in the previous session after the Reserve Bank of India cut the repo rate by 35 bps and lowered the GDP growth forecast. At 7:33 AM, the SGX Nifty futures traded 4 points, or 0.04 percent, higher at 10,869, indicating a flat start for the Sensex and the Nifty 50.

1. Asia: Asian shares braced for more volatility on Thursday as eye-catching easings by central banks stoked fears of global recession, driving US yields to near-record lows and lifting gold past $1,500 for the first time since 2013. Japan's Nikkei inched up 0.1 percent, and away from seven-month lows. E-Mini futures for the S&P 500 lost 0.13 percent. (Image: Reuters)
1. Asia: Asian shares braced for more volatility on Thursday as eye-catching easings by central banks stoked fears of global recession, driving US yields to near-record lows and lifting gold past $1,500 for the first time since 2013. Japan's Nikkei inched up 0.1 percent, and away from seven-month lows. E-Mini futures for the S&P 500 lost 0.13 percent. (Image: Reuters)
2. US: On Wall Street, the Dow Jones Industrial Average opened more than 500 points lower, helping erase gains in European shares, before ending the day close to where it started.The S&P 500 recovered from steep early losses to end slightly higher on Wednesday as investors snapped up oversold shares and bond yields rebounded from significant lows that raised fears about a recession. The Dow Jones Industrial Average fell 22.45 points, or 0.09 percent, to 26,007.07, the S&P 500 gained 2.21 points, or 0.08 percent, to 2,883.98 and the Nasdaq Composite added 29.56 points, or 0.38 percent, to 7,862.83. (Image: AP)
2. US: On Wall Street, the Dow Jones Industrial Average opened more than 500 points lower, helping erase gains in European shares, before ending the day close to where it started.The S&P 500 recovered from steep early losses to end slightly higher on Wednesday as investors snapped up oversold shares and bond yields rebounded from significant lows that raised fears about a recession. The Dow Jones Industrial Average fell 22.45 points, or 0.09 percent, to 26,007.07, the S&P 500 gained 2.21 points, or 0.08 percent, to 2,883.98 and the Nasdaq Composite added 29.56 points, or 0.38 percent, to 7,862.83. (Image: AP)
3. Markets At Close On Wednesday: Indices close at the low point of the day on Wednesday after the RBI slashed the benchmark lending rate but also lowered the growth estimate for the current financial year. The Sensex ended 286.35 points lower at 36,690.50 while the broader Nifty50 index lost 92.75 points to end the day at 10,855.50. Meanwhile, FIIs sold shares worth Rs 384 crore, while DIIs bought equities worth Rs 532 crore on a net basis. The dollar index inched up 0.01 percent to 97.64. The Indian Rupee closed at 70.89, higher by 7 paise or 0.11 percent. (Image: Reuters)
3. Markets At Close On Wednesday: Indices close at the low point of the day on Wednesday after the RBI slashed the benchmark lending rate but also lowered the growth estimate for the current financial year. The Sensex ended 286.35 points lower at 36,690.50 while the broader Nifty50 index lost 92.75 points to end the day at 10,855.50. Meanwhile, FIIs sold shares worth Rs 384 crore, while DIIs bought equities worth Rs 532 crore on a net basis. The dollar index inched up 0.01 percent to 97.64. The Indian Rupee closed at 70.89, higher by 7 paise or 0.11 percent. (Image: Reuters)
4. Crude Oil: Oil prices were attempting a recovery as talk that Saudi Arabia was mulling options to halt crude's descent helped offset a build in stockpiles and fears of slowing demand. Brent crude futures climbed $1.20 to $57.43, though that followed steep losses on Wednesday, while U.S. crude rose $1.23 to $52.32 a barrel. (Image: Reuters)
4. Crude Oil: Oil prices were attempting a recovery as talk that Saudi Arabia was mulling options to halt crude's descent helped offset a build in stockpiles and fears of slowing demand. Brent crude futures climbed $1.20 to $57.43, though that followed steep losses on Wednesday, while U.S. crude rose $1.23 to $52.32 a barrel. (Image: Reuters)
5. RBI MPC Cuts Repo Rate: The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) cut its key interest rate for the fourth successive time, reducing the repo rate by 35 basis points to 5.4 percent, to get the economy off its sickbed. The MPC has maintained an 'accommodative' stance for the monetary policy, implying that an increase in interest rates is off the table. The MPC also slashed the GDP growth forecast for the current fiscal year to 6.9 percent from 7 percent in the bimonthly review of the economy on Wednesday. (Image: Reuters)
5. RBI MPC Cuts Repo Rate: The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) cut its key interest rate for the fourth successive time, reducing the repo rate by 35 basis points to 5.4 percent, to get the economy off its sickbed. The MPC has maintained an 'accommodative' stance for the monetary policy, implying that an increase in interest rates is off the table. The MPC also slashed the GDP growth forecast for the current fiscal year to 6.9 percent from 7 percent in the bimonthly review of the economy on Wednesday. (Image: Reuters)
6. Analysts On RBI Lower GDP Forecast: Describing the lower GDP forecast of 6.9 percent as
6. Analysts On RBI Lower GDP Forecast: Describing the lower GDP forecast of 6.9 percent as "optimistic", analysts have opined that the Reserve Bank will have to undertake more rate cuts in the near future to help the economy. In an unprecedented move, the central bank on Wednesday slashed the repo rate by a 35 bps to 5.4 percent, which is a nine-year low and also lowered its GDP forecast by 10 bps to 6.9 percent with a bias to more downward risks. (Image: Reuters)
7. Shaktikanta Das On NBFCs: Governor Shaktikanta Das said the Reserve Bank will not allow any large and systemically important entity from the troubled shadow banking space to collapse. Das also said the RBI has identified around 50-odd large NBFCs, including some housing finance companies and are being monitored now.
7. Shaktikanta Das On NBFCs: Governor Shaktikanta Das said the Reserve Bank will not allow any large and systemically important entity from the troubled shadow banking space to collapse. Das also said the RBI has identified around 50-odd large NBFCs, including some housing finance companies and are being monitored now. "It is our enedeavour to ensure that there is no collapse of any large systemically important NBFCs," Das told reporters after announcing the bi-monthly policy review. (Image: Reuters)
8. RBI On Consumer Confidence Survey: The central bank released its Consumer Confidence Survey and it paints a sorry picture. The survey reflects weakening sentiment across a number of key categories. In July, the consumer confidence slipped into negative, it showed. The key reason behind the sentiment is deteriorating perception of employment and income. More than half of all respondents expect an improvement in the economic environment one year on,  but the net positive response is still the lowest since December 2018. (Image: AP)
8. RBI On Consumer Confidence Survey: The central bank released its Consumer Confidence Survey and it paints a sorry picture. The survey reflects weakening sentiment across a number of key categories. In July, the consumer confidence slipped into negative, it showed. The key reason behind the sentiment is deteriorating perception of employment and income. More than half of all respondents expect an improvement in the economic environment one year on,  but the net positive response is still the lowest since December 2018. (Image: AP)
9. SEBI On Encumbered Shares: Promoters will have to make additional disclosures on encumbered shares, markets regulator Sebi said on Wednesday. The details are required to be furnished in addition to the already mandated disclosures on encumbrance of shares, invocation of encumbrance and release of the same. The promoter of every listed company shall specifically disclose detailed reasons in a prescribed format for encumbrance if the combined encumbrance by the promoter along with persons acting in concert (PACs) with him exceeds 50 percent of their shareholding in the company or 20 percent of the total share capital of the company, Sebi said in a circular. (Image: Reuters)
9. SEBI On Encumbered Shares: Promoters will have to make additional disclosures on encumbered shares, markets regulator Sebi said on Wednesday. The details are required to be furnished in addition to the already mandated disclosures on encumbrance of shares, invocation of encumbrance and release of the same. The promoter of every listed company shall specifically disclose detailed reasons in a prescribed format for encumbrance if the combined encumbrance by the promoter along with persons acting in concert (PACs) with him exceeds 50 percent of their shareholding in the company or 20 percent of the total share capital of the company, Sebi said in a circular. (Image: Reuters)
10. SEBI On Commodity Derivatives Segment: Markets regulator Sebi on Wednesday directed stock exchanges dealing in commodity derivatives segment to constitute Product Advisory Committee (PAC) so as to bring transparency in the designing process of commodity derivatives contract. The committee has to be constituted for
10. SEBI On Commodity Derivatives Segment: Markets regulator Sebi on Wednesday directed stock exchanges dealing in commodity derivatives segment to constitute Product Advisory Committee (PAC) so as to bring transparency in the designing process of commodity derivatives contract. The committee has to be constituted for "each group or complex of commodities having common stakeholders/value chain participants, on which derivatives are traded or being proposed to be traded on the exchange," the regulator said in a circular. (Image: Reuters)
Live TV

Ask Our Experts CNBC TV18