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10 things you need to know before the opening bell on July 29

Updated : 2019-07-29 07:33:07

Indian shares looked set for a weak start on Monday, tracking sluggish Asian stocks, as US-China trade talks resume and the Federal Reserve is expected to deliver its first interest-rate cut in a decade. Asian shares remained subdued with much riding on whether or not the US Fed signals yet more are in the pipeline. At 7.00 AM, the SGX Nifty futures traded 17 points, or 0.15 percent, lower at 11,311.50, indicating a negative start for the Sensex and the Nifty 50.

1. Asia: Asian shares got off to a cautious start on Monday as markets count down to a likely cut in US interest rates this week with much riding on whether or not the Federal Reserve signals yet more are in the pipeline. MSCI’s broadest index of Asia-Pacific shares outside Japan was all but flat in slow trade. Japan’s Nikkei dipped 0.1 percent and E-Mini futures for the S&P 500 lost 0.06 percent. (Image: Reuters)
1. Asia: Asian shares got off to a cautious start on Monday as markets count down to a likely cut in US interest rates this week with much riding on whether or not the Federal Reserve signals yet more are in the pipeline. MSCI’s broadest index of Asia-Pacific shares outside Japan was all but flat in slow trade. Japan’s Nikkei dipped 0.1 percent and E-Mini futures for the S&P 500 lost 0.06 percent. (Image: Reuters)
2. US: The S&P 500 and the Nasdaq closed at record levels and the dollar reached a two-month high on Friday as strong economic data and a string of upbeat earnings reports brought buyers back to the market. The Dow Jones Industrial Average rose 51.47 points, or 0.19 percent, to 27,192.45, the S&P 500 gained 22.19 points, or 0.74 percent, to 3,025.86 and the Nasdaq Composite added 91.67 points, or 1.11 percent, to 8,330.21. (Image: Reuters)
2. US: The S&P 500 and the Nasdaq closed at record levels and the dollar reached a two-month high on Friday as strong economic data and a string of upbeat earnings reports brought buyers back to the market. The Dow Jones Industrial Average rose 51.47 points, or 0.19 percent, to 27,192.45, the S&P 500 gained 22.19 points, or 0.74 percent, to 3,025.86 and the Nasdaq Composite added 91.67 points, or 1.11 percent, to 8,330.21. (Image: Reuters)
3. Markets At Close On Friday: Indian market snapped 6-day losing streak. Nifty ended with a gain of 32 points but failed to hold 11,300 while Sensex closed 74 points higher. Nifty Bank outperformed led by ICICI Bank, Kotak Bank and YES Bank. The Sensex was up 51.81 points at 37,882.79, while Nifty was up 32.15 points at 11,284.30. (Image: Reuters)
3. Markets At Close On Friday: Indian market snapped 6-day losing streak. Nifty ended with a gain of 32 points but failed to hold 11,300 while Sensex closed 74 points higher. Nifty Bank outperformed led by ICICI Bank, Kotak Bank and YES Bank. The Sensex was up 51.81 points at 37,882.79, while Nifty was up 32.15 points at 11,284.30. (Image: Reuters)
4. Crude Oil: Oil prices fell on Monday after Iran described emergency talks on a multi-party nuclear agreement with a group of signatories as “constructive”, suggesting an easing of tensions in the Middle East. Brent crude futures were up 23 cents, or 0.4 percent, at $63.23 a barrel by 0054 GMT. US West Texas Intermediate crude was down by 12 cents, or 0.2 percent, at $56.08 a barrel. (Image: Reuters)
4. Crude Oil: Oil prices fell on Monday after Iran described emergency talks on a multi-party nuclear agreement with a group of signatories as “constructive”, suggesting an easing of tensions in the Middle East. Brent crude futures were up 23 cents, or 0.4 percent, at $63.23 a barrel by 0054 GMT. US West Texas Intermediate crude was down by 12 cents, or 0.2 percent, at $56.08 a barrel. (Image: Reuters)
5. Analysts On Market Outlook This Week: Quarterly earnings from frontline companies such as HDFC, ITC and Bharti Airtel, macroeconomic data and the US Fed's interest rate decision will set the tone for the equity markets this week, say analysts. (Image: Reuters)
5. Analysts On Market Outlook This Week: Quarterly earnings from frontline companies such as HDFC, ITC and Bharti Airtel, macroeconomic data and the US Fed's interest rate decision will set the tone for the equity markets this week, say analysts. (Image: Reuters)
6. GST Cut on EVs: The high-powered GST Council on Saturday decided to reduce the tax rate on electric vehicles (EVs) to 5 percent from the existing 12 percent, a move aimed at accelerating the adoption of eco-friendly mobility solutions. (Image: Reuters)
6. GST Cut on EVs: The high-powered GST Council on Saturday decided to reduce the tax rate on electric vehicles (EVs) to 5 percent from the existing 12 percent, a move aimed at accelerating the adoption of eco-friendly mobility solutions. (Image: Reuters)
7. CEA On GDP: India's chief economic advisor to the Union finance minister Krishnamurthy Subramanian Friday exuded confidence in the economy swelling to a $5-trillion giant by 2025, saying the high target is
7. CEA On GDP: India's chief economic advisor to the Union finance minister Krishnamurthy Subramanian Friday exuded confidence in the economy swelling to a $5-trillion giant by 2025, saying the high target is "definitely achievable." The statement comes amidst continuously falling growth numbers and the gathering clouds over the global economy with many warning that the world is headed to a far deeper recession than what it went through in 2008 spawned by the sub-prime crisis in the US. (Image: AP)
8. UPI Mechanism For IPO: Retail investors bidding for shares in an IPO through intermediaries should make payments only through Unified Payment Interface (UPI) mechanism, according to Sebi. The second phase of UPI as payment mechanism commenced from July 1. (Image: Stock)
8. UPI Mechanism For IPO: Retail investors bidding for shares in an IPO through intermediaries should make payments only through Unified Payment Interface (UPI) mechanism, according to Sebi. The second phase of UPI as payment mechanism commenced from July 1. (Image: Stock)
9. RBI Governor On Currency Manipulation: Reserve Bank governor Shaktikanta Das said ensuring orderly exchange rates is the responsibility of the IMF and not individual countries like the US and that currency manipulation charges by one nation against another reeks of bilateral hegemony. It can be noted that US president Donald Trump has been singling out India and China as currency manipulators. Trump went to the extent of specifically mentioning Reserve Bank buying dollars from the markets as a proxy of setting the exchange rates. (Image: PTI)
9. RBI Governor On Currency Manipulation: Reserve Bank governor Shaktikanta Das said ensuring orderly exchange rates is the responsibility of the IMF and not individual countries like the US and that currency manipulation charges by one nation against another reeks of bilateral hegemony. It can be noted that US president Donald Trump has been singling out India and China as currency manipulators. Trump went to the extent of specifically mentioning Reserve Bank buying dollars from the markets as a proxy of setting the exchange rates. (Image: PTI)
10. Sebi Eases Rules For New Exchanges: Markets watchdog Sebi on Friday eased the conditions for exchanges to provide incentives under liquidity enhancement schemes (LES) in the first five years of operation. Under the scheme, brokers and other market intermediaries are given incentives for a specified period of time to bring in liquidity and generate investor interest in securities, which have limited trading activity.  (Image: Reuters)
10. Sebi Eases Rules For New Exchanges: Markets watchdog Sebi on Friday eased the conditions for exchanges to provide incentives under liquidity enhancement schemes (LES) in the first five years of operation. Under the scheme, brokers and other market intermediaries are given incentives for a specified period of time to bring in liquidity and generate investor interest in securities, which have limited trading activity.  (Image: Reuters)
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