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10 things you need to know before the opening bell on July 26

Updated : 2019-07-26 07:27:33

Indian shares are likely to open lower on Friday as poor June-quarter earnings and losses in global markets weigh on equities. Asian shares traded marginally lower following mixed US corporate earnings. The BSE Sensex and NSE’s Nifty 50 closed lower for a sixth straight session on Thursday, dragged by losses in Reliance Industries and Tata Motors. At 7.10 AM, the SGX Nifty futures traded 32 points, or 0.28 percent, lower at 11,269, indicating a negative start for the Sensex and the Nifty 50.

1. Asia: Asian share prices opened a tad lower on Friday on mixed U.S. earnings reports and the euro held above two-year lows struck overnight after the European Central Bank held interest rates steady, though officials said a cut was certain in September. MSCI's broadest index of Asia-Pacific shares outside Japan  was down 0.15 percent while Japan's Nikkei dipped 0.3 percent. (Image: Reuters)
1. Asia: Asian share prices opened a tad lower on Friday on mixed U.S. earnings reports and the euro held above two-year lows struck overnight after the European Central Bank held interest rates steady, though officials said a cut was certain in September. MSCI's broadest index of Asia-Pacific shares outside Japan  was down 0.15 percent while Japan's Nikkei dipped 0.3 percent. (Image: Reuters)
2. US: Wall Street fell from record highs on Thursday following a flurry of downbeat quarterly results from Ford Motor Co and other companies and after European Central Bank chief Mario Draghi's comments disappointed investors hoping for a more dovish stance on monetary policy. The Dow Jones Industrial Average fell 128.92 points, or 0.47 percent, to 27,141.05, the S&P 500 lost 15.87 points, or 0.53 percent, to 3,003.69, and the Nasdaq Composite dropped 82.96 points, or 1 percent, to 8,238.54. (Image: Reuters)
2. US: Wall Street fell from record highs on Thursday following a flurry of downbeat quarterly results from Ford Motor Co and other companies and after European Central Bank chief Mario Draghi's comments disappointed investors hoping for a more dovish stance on monetary policy. The Dow Jones Industrial Average fell 128.92 points, or 0.47 percent, to 27,141.05, the S&P 500 lost 15.87 points, or 0.53 percent, to 3,003.69, and the Nasdaq Composite dropped 82.96 points, or 1 percent, to 8,238.54. (Image: Reuters)
3. Markets At Close On Thursday: Indian equity indices, the BSE Sensex and NSE Nifty50, ended the volatile day on a flat note with Nifty settling the July F&O series below the 11,300 mark. The Sensex was down 16.67 points at 37,830.98, while Nifty was down 9.50 points at 11,261.80. Meanwhile, foreign institutional investors (FIIs) sold shares worth Rs 127 crore on a net basis in the cash market, while domestic institutional investors (DIIs) bought shares worth Rs 399 crore on July 24. (Image: Reuters)
3. Markets At Close On Thursday: Indian equity indices, the BSE Sensex and NSE Nifty50, ended the volatile day on a flat note with Nifty settling the July F&O series below the 11,300 mark. The Sensex was down 16.67 points at 37,830.98, while Nifty was down 9.50 points at 11,261.80. Meanwhile, foreign institutional investors (FIIs) sold shares worth Rs 127 crore on a net basis in the cash market, while domestic institutional investors (DIIs) bought shares worth Rs 399 crore on July 24. (Image: Reuters)
4. Currency: In currency markets, the dollar index, tracking the greenback against six major currencies, nudged lower to 97.8010. The Indian rupee gained 0.07 paise or 0.09  percent to Rs 69.04 on Thursday. (Image: Reuters)
4. Currency: In currency markets, the dollar index, tracking the greenback against six major currencies, nudged lower to 97.8010. The Indian rupee gained 0.07 paise or 0.09  percent to Rs 69.04 on Thursday. (Image: Reuters)
5. Crude Oil: Oil prices fell on Friday after a Reuters poll showed global economic growth is likely to slow further amid the U.S.-China trade war, although losses were limited by tensions in the Middle East. Brent crude futures were down 24 cents, or 0.4 percent, at $63.15 a barrel by 0049 GMT. They rose 0.3 percent in the previous session. U.S. West Texas Intermediate crude was down 5 cents, or 0.1 percent, at $55.97 a barrel, after gaining 0.25 percent overnight. (Image: AP)
5. Crude Oil: Oil prices fell on Friday after a Reuters poll showed global economic growth is likely to slow further amid the U.S.-China trade war, although losses were limited by tensions in the Middle East. Brent crude futures were down 24 cents, or 0.4 percent, at $63.15 a barrel by 0049 GMT. They rose 0.3 percent in the previous session. U.S. West Texas Intermediate crude was down 5 cents, or 0.1 percent, at $55.97 a barrel, after gaining 0.25 percent overnight. (Image: AP)
6. PM Narendra Modi To Finance Ministry: The Prime Minister's Office (PMO) has asked the Finance Ministry to conduct a detailed study on the issuance of overseas sovereign bonds in light of concerns raised by several experts, sources said. The PMO has asked the Finance Ministry to examine the concerns raised by formers RBI governors and deputy governors on the issuance of such bonds and its implications. After the detailed consultation, a considered view will be taken, the sources added. (Image: Reuters)
6. PM Narendra Modi To Finance Ministry: The Prime Minister's Office (PMO) has asked the Finance Ministry to conduct a detailed study on the issuance of overseas sovereign bonds in light of concerns raised by several experts, sources said. The PMO has asked the Finance Ministry to examine the concerns raised by formers RBI governors and deputy governors on the issuance of such bonds and its implications. After the detailed consultation, a considered view will be taken, the sources added. (Image: Reuters)
7. New Working Capital Limits: The Reserve Bank's newly introduced guidelines curbing working capital limits may lead to better financial discipline, says a report. The RBI 'Guidelines on loan system for delivery of bank credit' will lead to a better assessment of working capital requirements by borrowers, and improve financial discipline among them, rating agency Crisil said in a note Thursday. (Image: Reuters)
7. New Working Capital Limits: The Reserve Bank's newly introduced guidelines curbing working capital limits may lead to better financial discipline, says a report. The RBI 'Guidelines on loan system for delivery of bank credit' will lead to a better assessment of working capital requirements by borrowers, and improve financial discipline among them, rating agency Crisil said in a note Thursday. (Image: Reuters)
8. GST Council Meeting: The meeting of the GST Council on Thursday, which was to decide on cutting tax rates on electric vehicles, has been postponed as Finance Minister Nirmala Sitharaman was pre-occupied in Parliament, officials said. The 36th GST Council meeting, which was to be held through video conferencing, had only one item on the agenda and that was to consider Centre's proposal to slash GST rates to 5 percent from 12 percent on e-vehicles. The GST Council meeting has been postponed and the new date would be decided later, officials said, adding Sitharaman was required to be present in Parliament, as Rajya Sabha was scheduled to take up for discussion amendments to the Insolvency and Bankruptcy Code. (Stock Image)
8. GST Council Meeting: The meeting of the GST Council on Thursday, which was to decide on cutting tax rates on electric vehicles, has been postponed as Finance Minister Nirmala Sitharaman was pre-occupied in Parliament, officials said. The 36th GST Council meeting, which was to be held through video conferencing, had only one item on the agenda and that was to consider Centre's proposal to slash GST rates to 5 percent from 12 percent on e-vehicles. The GST Council meeting has been postponed and the new date would be decided later, officials said, adding Sitharaman was required to be present in Parliament, as Rajya Sabha was scheduled to take up for discussion amendments to the Insolvency and Bankruptcy Code. (Stock Image)
9. Liquidity Steps For NBFCs: The government measures to provide partial credit guarantee to public sector bank on their asset purchases from NBFCs can ease funding pressure only for the short-term, says a report. In the budget, the government had said for purchase of high-rated pooled assets of financially-sound NBFCs, amounting to Rs 1 trillion during the current financial year, it will provide a one-time six months' partial credit guarantee to public sector banks for their first loss of up to 10 percent. (Stock Image)
9. Liquidity Steps For NBFCs: The government measures to provide partial credit guarantee to public sector bank on their asset purchases from NBFCs can ease funding pressure only for the short-term, says a report. In the budget, the government had said for purchase of high-rated pooled assets of financially-sound NBFCs, amounting to Rs 1 trillion during the current financial year, it will provide a one-time six months' partial credit guarantee to public sector banks for their first loss of up to 10 percent. (Stock Image)
10. NBFC/HFC Lending To Real Estate: Lending to real estate developers by non-banking finance companies and housing finance firms (HFCs) fell by almost half to about Rs 27,000 crore because of liquidity crisis triggered by IL&FS default in September last, according to a report by property consultant JLL. With large non-banking finance companies (NBFCs) and HFCs shying away from fresh lending to real estate developers, smaller ones have come to the rescue of builders and provided Rs 4,000 crore fund during the second half of the last financial year, it added. (Image: Reuters)
10. NBFC/HFC Lending To Real Estate: Lending to real estate developers by non-banking finance companies and housing finance firms (HFCs) fell by almost half to about Rs 27,000 crore because of liquidity crisis triggered by IL&FS default in September last, according to a report by property consultant JLL. With large non-banking finance companies (NBFCs) and HFCs shying away from fresh lending to real estate developers, smaller ones have come to the rescue of builders and provided Rs 4,000 crore fund during the second half of the last financial year, it added. (Image: Reuters)
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