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10 things you need to know before the opening bell on July 17

Updated : 2019-07-17 07:40:04

The BSE Sensex and the NSE Nifty50 are set to open lower on Wednesday, tracking losses in global markets. Investors are also cautious amid the ongoing first-quarter earnings season and continued selling by foreign investors. At 7.20 AM, the SGX Nifty futures traded 17 points, or 0.15 percent, lower at 11,630, indicating a negative start for the Sensex and the Nifty50.

1. Global Markets: Asian shares drifted lower after a lacklustre performance by Wall Street, while the dollar got a lift from robust US retail data and a Brexit-driven dive in the pound. Japan's Nikkei eased 0.3 percent and South Korea 0.8 percent. E-Mini futures for the S&P 500 were flat. Overnight, the Dow Jones Industrial Average fell 0.09 percent, the S&P 500 lost 0.34 percent and the Nasdaq Composite dropped 0.43 percent. (Image: Reuters)
1. Global Markets: Asian shares drifted lower after a lacklustre performance by Wall Street, while the dollar got a lift from robust US retail data and a Brexit-driven dive in the pound. Japan's Nikkei eased 0.3 percent and South Korea 0.8 percent. E-Mini futures for the S&P 500 were flat. Overnight, the Dow Jones Industrial Average fell 0.09 percent, the S&P 500 lost 0.34 percent and the Nasdaq Composite dropped 0.43 percent. (Image: Reuters)
2. Markets At Close On Tuesday: Indian benchmark indices ended higher on Tuesday amid broad-based buying in banking, auto and FMCG stocks. The Sensex ended 234 points higher at 39,131 while the broader Nifty50 index added 74 points to end at 11,663. Meanwhile, foreign institutional investors (FIIs) sold shares worth Rs 445 crore on a net basis in the cash market, while domestic institutional investors (DIIs) bought shares worth Rs 638 crore on July 16. (Image: Reuters)
2. Markets At Close On Tuesday: Indian benchmark indices ended higher on Tuesday amid broad-based buying in banking, auto and FMCG stocks. The Sensex ended 234 points higher at 39,131 while the broader Nifty50 index added 74 points to end at 11,663. Meanwhile, foreign institutional investors (FIIs) sold shares worth Rs 445 crore on a net basis in the cash market, while domestic institutional investors (DIIs) bought shares worth Rs 638 crore on July 16. (Image: Reuters)
3. Crude Oil: Oil steadied after falling more than 3 percent overnight, with US crude trailing Brent after US inventory data fell short of expectations, amid conflicting signals from the US and Iran over the disputes that have roiled prices recently. Brent crude futures were up 16 cents at $64.51, or 0.3 percent by 0027 GMT.  West Texas Intermediate crude futures were up 1 cent at $57.63. They fell 3.3 percent on Wednesday, having fallen to the lowest since July 9. (Image: AP)
3. Crude Oil: Oil steadied after falling more than 3 percent overnight, with US crude trailing Brent after US inventory data fell short of expectations, amid conflicting signals from the US and Iran over the disputes that have roiled prices recently. Brent crude futures were up 16 cents at $64.51, or 0.3 percent by 0027 GMT.  West Texas Intermediate crude futures were up 1 cent at $57.63. They fell 3.3 percent on Wednesday, having fallen to the lowest since July 9. (Image: AP)
4. Currency: In currency markets, the dollar was a major beneficiary at 97.381 on a basket of currencies, having risen 0.5 percent overnight. The Indian rupee went up 17 paise or 0.26 percent to Rs 68.71 on Tuesday. (Image: ANI)
4. Currency: In currency markets, the dollar was a major beneficiary at 97.381 on a basket of currencies, having risen 0.5 percent overnight. The Indian rupee went up 17 paise or 0.26 percent to Rs 68.71 on Tuesday. (Image: ANI)
5. SEBI New Compliance Report: Markets regulator Sebi on Tuesday came out with a new format for compliance report on corporate governance to be submitted by listed companies to stock exchanges. In a circular, the regulator prescribed a new format for disclosures to be made on a quarterly basis, the annual basis for the whole of the financial year and within six months from the end of the financial year that can be submitted along with second-quarter report. (Image: Reuters)
5. SEBI New Compliance Report: Markets regulator Sebi on Tuesday came out with a new format for compliance report on corporate governance to be submitted by listed companies to stock exchanges. In a circular, the regulator prescribed a new format for disclosures to be made on a quarterly basis, the annual basis for the whole of the financial year and within six months from the end of the financial year that can be submitted along with second-quarter report. (Image: Reuters)
6. Chief Economic Advisor On Foreign Capital: CEA K V Subramanian said there is a need to tap foreign capital to accelerate growth from the current level of 7 percent to 8 percent.
6. Chief Economic Advisor On Foreign Capital: CEA K V Subramanian said there is a need to tap foreign capital to accelerate growth from the current level of 7 percent to 8 percent. "Apart from the sovereign bond issue, we also need to be tapping into foreign capital to trigger the virtuous cycle. Once this virtuous cycle is triggered then other parts start moving," he said. Achieving USD 5-trillion economy by 2024-25 is possible although the goal is slightly stretched, he said. (Image: AP)
7. Piyush Goyal On Local Sourcing Norms: India will be easing mandatory local sourcing norms for FDI in single-brand retail trading in the next few weeks, commerce and industry minister Piyush Goyal said.
7. Piyush Goyal On Local Sourcing Norms: India will be easing mandatory local sourcing norms for FDI in single-brand retail trading in the next few weeks, commerce and industry minister Piyush Goyal said. "India has opened up opportunities for single-brand retail and is easing some detrimental clauses of the policy in next few weeks which will help single-brand retail come in a bigger way to the country," an official statement said quoting the minister. (Image: PTI)
8. Anti Dumping Duties: The government may impose a provisional anti-dumping duty of up to USD 199 per tonne on imports of aluminium and zinc coated flat products from China, Vietnam and Korea, according to a notification of the commerce ministry.<br />The duty was recommended by the ministry's investigation arm Directorate General of Trade Remedies (DGTR) after conducting a thorough probe, following a complaint from JSW Steel Coated Products Ltd. (Image: Reuters)
8. Anti Dumping Duties: The government may impose a provisional anti-dumping duty of up to USD 199 per tonne on imports of aluminium and zinc coated flat products from China, Vietnam and Korea, according to a notification of the commerce ministry.
The duty was recommended by the ministry's investigation arm Directorate General of Trade Remedies (DGTR) after conducting a thorough probe, following a complaint from JSW Steel Coated Products Ltd. (Image: Reuters)
9. Brazil To WTO On India Sugar Subsidy: Brazil has sought the establishment of a dispute panel under the aegis of the World Trade Organization (WTO) in a case against India's sugar subsidies to farmers. Brazil has alleged that in recent years, India has massively increased the level of domestic support under its support regime for sugarcane and sugar. (Image: Reuters)
9. Brazil To WTO On India Sugar Subsidy: Brazil has sought the establishment of a dispute panel under the aegis of the World Trade Organization (WTO) in a case against India's sugar subsidies to farmers. Brazil has alleged that in recent years, India has massively increased the level of domestic support under its support regime for sugarcane and sugar. (Image: Reuters)
10. Kharif Crop Production: Foodgrain production in the ongoing kharif (summer-sown) season is expected to be same as last year's despite deficient monsoon rains so far as there is still time to sow paddy and other crops, said Indian Council of Agricultural Research (ICAR) Director General Trilochan Mohapatra. He said there could be loss of production in areas with rain deficiency of more than 50 percent, but the same would be compensated with rising in productivity and production in regions that have received good rains. (Image: Reuters)
10. Kharif Crop Production: Foodgrain production in the ongoing kharif (summer-sown) season is expected to be same as last year's despite deficient monsoon rains so far as there is still time to sow paddy and other crops, said Indian Council of Agricultural Research (ICAR) Director General Trilochan Mohapatra. He said there could be loss of production in areas with rain deficiency of more than 50 percent, but the same would be compensated with rising in productivity and production in regions that have received good rains. (Image: Reuters)
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