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10 things you need to know before the opening bell on July 16

Updated : 2019-07-16 07:59:06

Indian benchmark indices BSE Sensex and NSE Nifty 50 are set for a flat start on Tuesday on the back of disappointing macroeconomic data and amid the June quarter earnings season. India’s business sentiment in June hit the lowest level since 2016 while exports declined by 9.71 percent to $25.01 billion in June 2019. At 7.20 AM, the SGX Nifty futures traded 7.5 points or 0.06 percent lower at 11,579, indicating a muted start for the Sensex and the Nifty 50.

1. Global Markets: Asian shares inched up on Tuesday as traders awaited U.S. retail sales data and more corporate earnings to gauge the health of the US economy. Early in the Asian trading day, MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.04 percent. Australian shares were up 0.1 percent and Japan's Nikkei stock index dipped 0.36 percent. That followed small gains on Wall Street overnight, with the Dow rising 0.1 percent, the S&P 500 gaining 0.02 percent and the Nasdaq adding 0.17 percent. (Image: Reuters)
1. Global Markets: Asian shares inched up on Tuesday as traders awaited U.S. retail sales data and more corporate earnings to gauge the health of the US economy. Early in the Asian trading day, MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.04 percent. Australian shares were up 0.1 percent and Japan's Nikkei stock index dipped 0.36 percent. That followed small gains on Wall Street overnight, with the Dow rising 0.1 percent, the S&P 500 gaining 0.02 percent and the Nasdaq adding 0.17 percent. (Image: Reuters)
2. Markets At Close On Monday: Indian shares settled higher on Monday, as IT giant Infosys surged to an all-time high on the back of strong quarterly results and a hike in revenue forecast. The broader NSE Nifty closed up 0.31 percent at 11,588.35, while the benchmark BSE Sensex settled 0.41 percent higher at 38,896.71. Meanwhile, foreign institutional investors (FIIs) sold shares worth Rs 216 crore on a net basis in the cash market, while domestic institutional investors (DIIs) bought shares worth Rs 592 crore on July 15. (Image: Reuters)
2. Markets At Close On Monday: Indian shares settled higher on Monday, as IT giant Infosys surged to an all-time high on the back of strong quarterly results and a hike in revenue forecast. The broader NSE Nifty closed up 0.31 percent at 11,588.35, while the benchmark BSE Sensex settled 0.41 percent higher at 38,896.71. Meanwhile, foreign institutional investors (FIIs) sold shares worth Rs 216 crore on a net basis in the cash market, while domestic institutional investors (DIIs) bought shares worth Rs 592 crore on July 15. (Image: Reuters)
3. Crude Oil: Oil prices fell for a second day on Tuesday as more production facilities returned to operation in the US Gulf after Hurricane Barry swept through over the weekend, while Chinese economic data dimmed the outlook for crude demand. Brent crude futures were down 10 cents, or 0.2 percent, at $66.38 a barrel by 0028 GMT.  US crude fell by 10 cents, or 0.2 percent to $59.48 a barrel. The US benchmark fell about 1 percent in the previous session. (Image: AP)
3. Crude Oil: Oil prices fell for a second day on Tuesday as more production facilities returned to operation in the US Gulf after Hurricane Barry swept through over the weekend, while Chinese economic data dimmed the outlook for crude demand. Brent crude futures were down 10 cents, or 0.2 percent, at $66.38 a barrel by 0028 GMT.  US crude fell by 10 cents, or 0.2 percent to $59.48 a barrel. The US benchmark fell about 1 percent in the previous session. (Image: AP)
4. Currency: In currency markets, the dollar index was flat at 96.9260 against a basket of major currencies. While, Indian rupee fell 14 paise or 0.21 percent to Rs 68.53 on Monday. (Image: ANI)
4. Currency: In currency markets, the dollar index was flat at 96.9260 against a basket of major currencies. While, Indian rupee fell 14 paise or 0.21 percent to Rs 68.53 on Monday. (Image: ANI)
5. Wholesale Price Index: India's Wholesale Price Index-based (WPI) inflation slipped to 2.02 percent in June, as against 2.45 percent in May, the lowest level in 23 months, data published by the Ministry of Commerce and Industry showed on Monday. June WPI was expected to slide to 2.13 percent from 2.45 percent in May, as per a CNBC-TV18's poll. The wholesale inflation was expected to be in the range of 1.7 percent to 2.15 percent. (Image: Reuters)
5. Wholesale Price Index: India's Wholesale Price Index-based (WPI) inflation slipped to 2.02 percent in June, as against 2.45 percent in May, the lowest level in 23 months, data published by the Ministry of Commerce and Industry showed on Monday. June WPI was expected to slide to 2.13 percent from 2.45 percent in May, as per a CNBC-TV18's poll. The wholesale inflation was expected to be in the range of 1.7 percent to 2.15 percent. (Image: Reuters)
6. Sugar Subsidies: India will keep its sugar export subsidies despite complaints to the World Trade Organisation (WTO) from rival producers Brazil and Australia, though it will tweak how it provides them, four sources directly involved in the matter said.
6. Sugar Subsidies: India will keep its sugar export subsidies despite complaints to the World Trade Organisation (WTO) from rival producers Brazil and Australia, though it will tweak how it provides them, four sources directly involved in the matter said. "The industry needs government support for exports. It will be provided without violating the WTO framework," said a senior government official involved in the policymaking. "We may need to make some changes in the way we provide incentives."
7. India's Business Sentiment: India's slowing economic growth, water shortage and regulatory hurdles have taken its business sentiment in June to the lowest level since 2016, a survey by market research firm IHS Markit showed on Monday. The aggregate of private-sector companies forecasting output growth during this year fell to +15% in June from +18% in February. The level was earlier hit three years ago - its lowest since data became available in 2009, according to the report. (Image: Reuters)
7. India's Business Sentiment: India's slowing economic growth, water shortage and regulatory hurdles have taken its business sentiment in June to the lowest level since 2016, a survey by market research firm IHS Markit showed on Monday. The aggregate of private-sector companies forecasting output growth during this year fell to +15% in June from +18% in February. The level was earlier hit three years ago - its lowest since data became available in 2009, according to the report. (Image: Reuters)
8. Decline In Exports: The contraction in the country's exports in June is a reflection of sluggish global demand and rising tariff war, exporters body FIEO said on Monday. Exports declined by 9.71 percent to $25.01 billion in June 2019. (Image: Reuters)
8. Decline In Exports: The contraction in the country's exports in June is a reflection of sluggish global demand and rising tariff war, exporters body FIEO said on Monday. Exports declined by 9.71 percent to $25.01 billion in June 2019. (Image: Reuters)
9. Services Export In May: India's receipts from exports of services rose 15.5 percent to USD 18.68 billion in May this year, data from the Reserve Bank of India showed on Monday. In May 2018, the receipts from services exports by India had stood at USD 16.17 billion. Compared sequentially, the services exports during the month were up by 3.4 percent from USD 18.06 billion in April 2019. (Image: Reuters)
9. Services Export In May: India's receipts from exports of services rose 15.5 percent to USD 18.68 billion in May this year, data from the Reserve Bank of India showed on Monday. In May 2018, the receipts from services exports by India had stood at USD 16.17 billion. Compared sequentially, the services exports during the month were up by 3.4 percent from USD 18.06 billion in April 2019. (Image: Reuters)
10. SFIO Probe: The government has ordered SFIO probe in six cases, including that of Jet Airways and its six entities, in the first three months of the current financial year. The Serious Fraud Investigation Office (SFIO), which probes white-collar crimes, comes under the corporate affairs ministry. In a written reply to the Lok Sabha, Minister of State for Corporate Affairs Anurag Thakur said the SFIO has vast powers under the Companies Act, 2013.
10. SFIO Probe: The government has ordered SFIO probe in six cases, including that of Jet Airways and its six entities, in the first three months of the current financial year. The Serious Fraud Investigation Office (SFIO), which probes white-collar crimes, comes under the corporate affairs ministry. In a written reply to the Lok Sabha, Minister of State for Corporate Affairs Anurag Thakur said the SFIO has vast powers under the Companies Act, 2013. "Based on a well laid down process, cases that involve prima-facie findings of fraud are referred to the SFIO," he added. (Image: Reuters)
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