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10 things you need to know before the opening bell on July 22

Updated : 2019-07-22 07:33:03

Indian shares are likely to open lower on Monday as investors remained cautious amid the ongoing June-quarter earnings season. Asian shares fell after heightened geopolitical tensions in the Middle East and expectations of a lower than expected cut in interest rates by the US Federal Reserve. The BSE Sensex and NSE’s Nifty 50 plunged 1.5 percent on Friday following muted earnings and the government’s decision to maintain the status quo on the FPI tax issue. At 7.15 Am, the SGX Nifty futures traded 20 points, or 0.18 percent, lower at 11,409, indicating a negative start for the Sensex and the Nifty 50

1. Asia: Asia stocks eased on Monday as investors reduced expectations of an aggressive interest rate cut by the Federal Reserve, while heightened Middle East tensions following an Iranian seizure of a British tanker lifted crude oil prices. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.1 percent. South Korea's KOSPI shed 0.3 percent, Australian stocks lost 0.2 percent and Japan's Nikkei fell 0.5 percent. (Image: Reuters)
1. Asia: Asia stocks eased on Monday as investors reduced expectations of an aggressive interest rate cut by the Federal Reserve, while heightened Middle East tensions following an Iranian seizure of a British tanker lifted crude oil prices. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.1 percent. South Korea's KOSPI shed 0.3 percent, Australian stocks lost 0.2 percent and Japan's Nikkei fell 0.5 percent. (Image: Reuters)
2. US: A gauge of global stocks declined after early gains dissipated on Friday as expectations for a strongly dovish U.S. Federal Reserve at its next meeting were dialled back, pushing the dollar higher. The Dow Jones Industrial Average fell 68.77 points, or 0.25 percent, to 27,154.2, the S&P 500 lost 18.5 points, or 0.62 percent, to 2,976.61 and the Nasdaq Composite dropped 60.75 points, or 0.74 percent, to 8,146.49. (Image: Reuters)
2. US: A gauge of global stocks declined after early gains dissipated on Friday as expectations for a strongly dovish U.S. Federal Reserve at its next meeting were dialled back, pushing the dollar higher. The Dow Jones Industrial Average fell 68.77 points, or 0.25 percent, to 27,154.2, the S&P 500 lost 18.5 points, or 0.62 percent, to 2,976.61 and the Nasdaq Composite dropped 60.75 points, or 0.74 percent, to 8,146.49. (Image: Reuters)
3. Markets At Close On Friday: Indian benchmark indices gave up early gains to end lower on Friday, dragged by auto and financial stocks as the first set of corporate results failed to impress investors. The Sensex ended 560 points lower at 38,337, while the broader Nifty50 index lost 177 points to end at 11,419. Meanwhile, foreign institutional investors (FIIs) sold shares worth Rs 950 crore on a net basis in the cash market, while domestic institutional investors (DIIs) bought shares worth Rs 734 crore on July 19. (Image: Reuters)
3. Markets At Close On Friday: Indian benchmark indices gave up early gains to end lower on Friday, dragged by auto and financial stocks as the first set of corporate results failed to impress investors. The Sensex ended 560 points lower at 38,337, while the broader Nifty50 index lost 177 points to end at 11,419. Meanwhile, foreign institutional investors (FIIs) sold shares worth Rs 950 crore on a net basis in the cash market, while domestic institutional investors (DIIs) bought shares worth Rs 734 crore on July 19. (Image: Reuters)
4. Currency: In currency markets, the dollar index against a basket of six major currencies was steady at 97.152 after rising 0.4 percent. The Indian rupee declined 0.15 paise or 0.21 percent to Rs 68.80 on Friday. (Image: Reuters)
4. Currency: In currency markets, the dollar index against a basket of six major currencies was steady at 97.152 after rising 0.4 percent. The Indian rupee declined 0.15 paise or 0.21 percent to Rs 68.80 on Friday. (Image: Reuters)
5. Crude Oil: Oil prices rose on Monday amid high tensions in the Middle East after a British tanker was seized by the Iranian military at the end of last week. Brent crude futures were up 51 cents, or 0.8 percent, at$62.98 a barrel by 0042 GMT. West Texas Intermediate (WTI) crude futures were up 15 cents, or 0.3 percent, at $55.78. (Image: AP)
5. Crude Oil: Oil prices rose on Monday amid high tensions in the Middle East after a British tanker was seized by the Iranian military at the end of last week. Brent crude futures were up 51 cents, or 0.8 percent, at$62.98 a barrel by 0042 GMT. West Texas Intermediate (WTI) crude futures were up 15 cents, or 0.3 percent, at $55.78. (Image: AP)
6. RBI Governor Shaktikanta Das On PSB Heads: Reserve Bank governor Shaktikanta Das on Friday met the heads of public sector banks and reiterated his concerns over the
6. RBI Governor Shaktikanta Das On PSB Heads: Reserve Bank governor Shaktikanta Das on Friday met the heads of public sector banks and reiterated his concerns over the "less-than-desired-level" of policy rate transmission by lenders. Acknowledging the "discernible improvements in the banking sector," Das pointed out that there still are several challenges to be addressed, particularly in regard to stressed asset resolution and credit flows to the needy sectors. (Image: Reuters)
7. SEBI Changes Audit Reports Format: Regulator Sebi on Friday tweaked the formats for limited review and audit report of listed entities in order to align them with the revised auditing standards. Providing new formats for audit report and limited review report in the circular, Sebi said that in view of revision in auditing standards (SA 700) by the Institute of Chartered Accountants of India (ICAI),
7. SEBI Changes Audit Reports Format: Regulator Sebi on Friday tweaked the formats for limited review and audit report of listed entities in order to align them with the revised auditing standards. Providing new formats for audit report and limited review report in the circular, Sebi said that in view of revision in auditing standards (SA 700) by the Institute of Chartered Accountants of India (ICAI), "audit report formats need to be aligned with SA 700 (revised)". This will also be applicable to entities whose accounts are to be consolidated with the listed entity. (Image: Reuters)
8. Commerce Minister Piyush Goyal On GeM Portal: Commerce and Industry Minister Piyush Goyal has directed officials handling public procurement portal GeM to make it more simple, less time consuming and attractive to attract vendors, especially from the MSME sector. The minister's directive came during a meeting on Thursday to review and formulate an action plan for Government e-Marketplace (GeM) to achieve a target for Rs 1 lakh crore gross merchandise volume on the portal this fiscal. The portal comes under the administrative control of the commerce ministry. (Image: PTI)
8. Commerce Minister Piyush Goyal On GeM Portal: Commerce and Industry Minister Piyush Goyal has directed officials handling public procurement portal GeM to make it more simple, less time consuming and attractive to attract vendors, especially from the MSME sector. The minister's directive came during a meeting on Thursday to review and formulate an action plan for Government e-Marketplace (GeM) to achieve a target for Rs 1 lakh crore gross merchandise volume on the portal this fiscal. The portal comes under the administrative control of the commerce ministry. (Image: PTI)
9. Government On Foreign Lenders: The government is in talks with foreign lenders to provide as much as $14.5 billion in credit to millions of its small firms, two officials said, in a sign, the country's banking system may not be robust enough to do the job on its own. The government is in discussions with multiple foreign leaders, including Germany's state-owned development bank KfW Group, the World Bank and some Canadian institutions to extend lines of credit to small enterprises, one of the officials, who did not want to be identified, told Reuters. (Image: Reuters)
9. Government On Foreign Lenders: The government is in talks with foreign lenders to provide as much as $14.5 billion in credit to millions of its small firms, two officials said, in a sign, the country's banking system may not be robust enough to do the job on its own. The government is in discussions with multiple foreign leaders, including Germany's state-owned development bank KfW Group, the World Bank and some Canadian institutions to extend lines of credit to small enterprises, one of the officials, who did not want to be identified, told Reuters. (Image: Reuters)
10. Air Traffic Volume Data: Domestic air passenger traffic rose 6.19 percent in June over the year-ago period, with local carriers flying 12.02 million passengers in the month, show the monthly data from regulator DGCA. The uptick in June follows a marginal under 3 percent growth in May ferrying 112 million passengers. But this was after a 4.5 percent degrowth in April-the first time in six years--due to the grounding of Jet Airways and the resultant spike in ticket prices during the peak summer holidays. (Image: Reuters)
10. Air Traffic Volume Data: Domestic air passenger traffic rose 6.19 percent in June over the year-ago period, with local carriers flying 12.02 million passengers in the month, show the monthly data from regulator DGCA. The uptick in June follows a marginal under 3 percent growth in May ferrying 112 million passengers. But this was after a 4.5 percent degrowth in April-the first time in six years--due to the grounding of Jet Airways and the resultant spike in ticket prices during the peak summer holidays. (Image: Reuters)
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