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10 things you need to know before the opening bell on September 4

Updated : 2019-09-04 07:45:05

Indian shares are expected to recover on Wednesday after the market witnessed heavy sell-off on Tuesday, with the Sensex ending 770 points lower at 36,563 and the Nifty50 losing 225 points to end at 10,798. Lower than expected GDP growth numbers, rupee depreciation, weal global sentiment weighed on the market sentiment. At 7:00 AM, the SGX Nifty Futures traded higher by 0.30 percent, or 32.50 points, at 10,852, indicating a slightly positive start for the Sensex and the Nifty.

1. Asia: Asian stocks dipped early Wednesday after poor US economic data stoked global recession fears and further soured investor sentiment already hurt by heightened trade war concerns. MSCI's broadest index of Asia-Pacific shares outside Japan was a shade lower after losing 0.85 percent the previous day. Australian stocks lost 0.8 percent and Japan's Nikkei fell 0.3 percent. (Image: Reuters)
1. Asia: Asian stocks dipped early Wednesday after poor US economic data stoked global recession fears and further soured investor sentiment already hurt by heightened trade war concerns. MSCI's broadest index of Asia-Pacific shares outside Japan was a shade lower after losing 0.85 percent the previous day. Australian stocks lost 0.8 percent and Japan's Nikkei fell 0.3 percent. (Image: Reuters)
2. US: US stocks fell on Tuesday as investors worried about global growth prospects after data showed US factory activity shrank in August for the first time since 2016 and the United States and China imposed new tariffs on each other over the weekend. The Dow Jones Industrial Average fell 285.26 points, or 1.08 percent, to 26,118.02, the S&P 500 lost 20.19 points, or 0.69 percent, to 2,906.27 and the Nasdaq Composite dropped 88.72 points, or 1.11 percent, to 7,874.16. (Image: AP)
2. US: US stocks fell on Tuesday as investors worried about global growth prospects after data showed US factory activity shrank in August for the first time since 2016 and the United States and China imposed new tariffs on each other over the weekend. The Dow Jones Industrial Average fell 285.26 points, or 1.08 percent, to 26,118.02, the S&P 500 lost 20.19 points, or 0.69 percent, to 2,906.27 and the Nasdaq Composite dropped 88.72 points, or 1.11 percent, to 7,874.16. (Image: AP)
3. Markets At Close On Tuesday: Trade sentiment took a hit on Tuesday on account of weak macroeconomic data releases and double-digit decline in auto sales in August as the sector continued to reel under one of the worst slowdowns in its history. BSE Sensex dropped to 36,562 plunging 769 points, while Nifty also ended at 10,797, falling 2.2 percent. Meanwhile, foreign institutional investors sold Rs 2,016 crore in the cash market while domestic institutional investors bought Rs 1,251 crore. (Image: Reuters)
3. Markets At Close On Tuesday: Trade sentiment took a hit on Tuesday on account of weak macroeconomic data releases and double-digit decline in auto sales in August as the sector continued to reel under one of the worst slowdowns in its history. BSE Sensex dropped to 36,562 plunging 769 points, while Nifty also ended at 10,797, falling 2.2 percent. Meanwhile, foreign institutional investors sold Rs 2,016 crore in the cash market while domestic institutional investors bought Rs 1,251 crore. (Image: Reuters)
4. Currency: The rupee on Tuesday dropped sharply by 97 paise to more than nine-month low of 72.39 against the US dollar as heavy sell-off in the domestic equity market, weak macro environment and a stronger greenback kept investors edgy. The Indian currency came under pressure after official data released on Friday showed that India's GDP growth fell to an over six-year low of 5 percent in the June quarter. (Image: Reuters)
4. Currency: The rupee on Tuesday dropped sharply by 97 paise to more than nine-month low of 72.39 against the US dollar as heavy sell-off in the domestic equity market, weak macro environment and a stronger greenback kept investors edgy. The Indian currency came under pressure after official data released on Friday showed that India's GDP growth fell to an over six-year low of 5 percent in the June quarter. (Image: Reuters)
5. Crude Oil: US crude oil futures dipped 0.04 percent to $53.92 per barrel, adding to the previous day's losses. The contracts had shed more than 2 percent on Tuesday after the weak US ISM data raised concerns about a weakening global economy. (Image: Reuters)
5. Crude Oil: US crude oil futures dipped 0.04 percent to $53.92 per barrel, adding to the previous day's losses. The contracts had shed more than 2 percent on Tuesday after the weak US ISM data raised concerns about a weakening global economy. (Image: Reuters)
are unlikely," Swiss brokerage Credit Suisse said on Tuesday. Even as size and scale of operations increase, core profitability of these banks is likely to remain weak, it said, adding, "these banks will continue to depend on government for funds." (Image: Reuters)" data-original="https://images.cnbctv18.com/wp-content/uploads/2018/09/Credit-Suisse.jpeg" > 6. Credit Suisse On Mega Mergers: The mega public sector bank mergers plan announced over the weekend is unlikely to create any meaningful cost synergies and revive credit growth or improve their profitability, says a report. are unlikely," Swiss brokerage Credit Suisse said on Tuesday. Even as size and scale of operations increase, core profitability of these banks is likely to remain weak, it said, adding, "these banks will continue to depend on government for funds." (Image: Reuters)" title="6. Credit Suisse On Mega Mergers: The mega public sector bank mergers plan announced over the weekend is unlikely to create any meaningful cost synergies and revive credit growth or improve their profitability, says a report. "Given the limited flexibility on restructuring and rationalisation, meaningful cost synergies from these mergers
are unlikely," Swiss brokerage Credit Suisse said on Tuesday. Even as size and scale of operations increase, core profitability of these banks is likely to remain weak, it said, adding, "these banks will continue to depend on government for funds." (Image: Reuters)">
6. Credit Suisse On Mega Mergers: The mega public sector bank mergers plan announced over the weekend is unlikely to create any meaningful cost synergies and revive credit growth or improve their profitability, says a report. "Given the limited flexibility on restructuring and rationalisation, meaningful cost synergies from these mergers
are unlikely," Swiss brokerage Credit Suisse said on Tuesday. Even as size and scale of operations increase, core profitability of these banks is likely to remain weak, it said, adding, "these banks will continue to depend on government for funds." (Image: Reuters)
7. FADA On Auto Sector: The recent measures announced by the government to help auto industry overcome the ongoing slowdown is yet to take effect at ground level and uncertainty over GST reduction is making customers postpone purchases, automobile dealers body FADA said on Tuesday. The Federation of Automobile Dealers Association (FADA) however said it was cautiously optimistic about retail sales to be either flat or marginally positive during this festive season compared to last year when there was degrowth.
7. FADA On Auto Sector: The recent measures announced by the government to help auto industry overcome the ongoing slowdown is yet to take effect at ground level and uncertainty over GST reduction is making customers postpone purchases, automobile dealers body FADA said on Tuesday. The Federation of Automobile Dealers Association (FADA) however said it was cautiously optimistic about retail sales to be either flat or marginally positive during this festive season compared to last year when there was degrowth. "On the ground situation, I can't say right now if I have seen much change from what we last reported. Inquiries are still there but postponement continues as of now," FADA President Ashish Harsharaj Kale said here in a media interaction. (Image: Reuters)
8. Sidbi Survey Shows Deepening MSME Crisis: Indicating deepening crisis in the economy, a quarterly survey of small business by the state-run Sidbi has found that their sentiment has been impacted by the broader trends in the economy. The report comes days after the disappointing GDP growth prints which showed that the economy has lost its steam clipping at a low 5 percent in the three months period to June, which is a 25-quarter low. The quarterly survey conducted with rating agency Crisil and released Tuesday, however, finds that small businesses, which are the largest job creators, are sanguine on employment. (Image: Reuters)
8. Sidbi Survey Shows Deepening MSME Crisis: Indicating deepening crisis in the economy, a quarterly survey of small business by the state-run Sidbi has found that their sentiment has been impacted by the broader trends in the economy. The report comes days after the disappointing GDP growth prints which showed that the economy has lost its steam clipping at a low 5 percent in the three months period to June, which is a 25-quarter low. The quarterly survey conducted with rating agency Crisil and released Tuesday, however, finds that small businesses, which are the largest job creators, are sanguine on employment. (Image: Reuters)
9. Assocham-Crisil on NPAs: The gross bad loans of banks are expected to come down marginally to Rs 9.1 lakh crore by the end of the current financial year, according to a report. Indian banks' gross non-performing assets (NPAs) stood at Rs 9.4 lakh crore as on March 31, 2019, said a joint study by Assocham-Crisil. 
9. Assocham-Crisil on NPAs: The gross bad loans of banks are expected to come down marginally to Rs 9.1 lakh crore by the end of the current financial year, according to a report. Indian banks' gross non-performing assets (NPAs) stood at Rs 9.4 lakh crore as on March 31, 2019, said a joint study by Assocham-Crisil.  "There is a significant potential opportunity for stressed-assets investors, given around Rs 9.4 lakh crore NPAs in the banking system as on March 31, 2019. Of this, the corporate segment, which has seen active interest from most investors, is estimated to account for 70 percent,” the report 'Bolstering ARCs' said. It said large stressed borrowers have debt aggregating to Rs 5.4 lakh crore, which is a huge playing field in itself for investors. (Image: Reuters)
10. RBI Forms Taskforce For Secondary Market: The Reserve Bank-constituted task-force on developing a vibrant secondary market for corporate loans has called for setting up a central loan contract registry to remove information asymmetries between buyers and sellers. The six-member task force, headed by Canara Bank chairman TN Manoharan, was formed to examine the scope for developing a secondary market for corporate loans and make recommendations to facilitate rapid development of such a vibrant market. The task force has called for
10. RBI Forms Taskforce For Secondary Market: The Reserve Bank-constituted task-force on developing a vibrant secondary market for corporate loans has called for setting up a central loan contract registry to remove information asymmetries between buyers and sellers. The six-member task force, headed by Canara Bank chairman TN Manoharan, was formed to examine the scope for developing a secondary market for corporate loans and make recommendations to facilitate rapid development of such a vibrant market. The task force has called for "creating a loan contract registry to remove information asymmetries between buyers and sellers, its ownership structure and related protocols such as standardization of loan information, independent validation and data access". (Image: Reuters)
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