SUMMARY
The Indian market is likely to open lower on Tuesday following losses in global markets. At 7:32 am, the SGX Nifty traded 97 points lower at 10,770, indicating a weak start for the Sensex and the Nifty50.

1. Asia: Stocks in Asia Pacific were set to decline at the Tuesday open, ahead of the release of China’s trade data for June, reported CNBC International. Futures pointed to a lower open for Japanese stocks. The Nikkei futures contract in Chicago was at 22,615 while its counterpart in Osaka was at 22,540. That compared against the Nikkei 225′s last close at 22,784.74. Shares in Australia were also set to trade lower, with the SPI futures contract at 5,892, as compared to the S&P/ASX 200′s last close at 5,977.50. (Image: Reuters)

2. US: U.S. stock futures moved higher in overnight trading and pointed to gains at the open on Tuesday, as investors eye earnings from the country's largest banks, reported CNBC International. Dow futures rose 50 points. The S&P 500 and Nasdaq 100 futures rose 0.15% and 0.4%, respectively. On Monday, the Dow Jones Industrial Average gave up a 500-point gain to end the day up 10 points. The S&P 500 ended the day down 0.95 percent. (Image:AP)

3. Market At Close On Monday: The Indian indices ended higher after a volatile session on Monday led by gains in IT, FMCG stocks and index heavyweight RIL. However, heavyweight financials like HDFC twins, ICICI Bank, Bajaj Finance, and Kotak Bank capped some gains during the day. The Sensex ended 99 points higher at 36,694 while the Nifty rose 35 points to settle at 10,803. (Image: Reuters)

4. Crude OIl: Oil prices were modestly lower on Monday as the market waits for direction from an OPEC meeting later this week that is expected to recommend an increase in output, reported CNBC International. Brent futures fell 1 cent to $43.23 a barrel, while West Texas Intermediate crude fell 45 cents, or 1.1%, to settle at $40.10 per barrel. OPEC and allies including Russia, a group known as OPEC+, are expected to ease their production cuts to 7.7 million barrels per day (bpd) after a recovery in global oil demand. (Image:AP)

5. Rupee Close: The Indian currency settled on a flat note on Monday amidst volatile equity market. The rupee ended at 75.19 as against the US dollar, compared to Friday's close of 75.20, reported PTI. Forex traders said the rupee traded in a range-bound manner tracking high volatility in domestic equities. Moreover, investors awaited cues from Consumer Price Index (CPI) data expected to be released later in the day. (Image: Reuters)

6. CBDT Announces One-Time Relaxation For E-Filed Tax Returns Verification: Central Board of Direct Taxes (CBDT) on Monday announced a one-time relaxation for verification of e-filed tax returns for AYs 2015-16 to 2019-20 pending due to non-filing of the ITR-V form. The CBDT said that a large number of electronically filed ITRs still remain pending with the Income Tax Department for receipt of valid ITR-V form from taxpayers amid the ongoing coronavirus pandemic and the consequent lockdown across the country. The CBDT permits verification of such returns either by sending a physical copy of the ITR-V to CPC, Bengaluru or through EVC or OTP modes, latest by September 30, 2020. (Representational Image)

7. Retail Inflation Surges To 6.09%: Retail inflation in June increased by 6.09 percent, on account of higher prices of food items, government data showed on Monday. According to the Consumer Price Index (CPI) data, food inflation eased to 7.87 percent last month. The retail inflation based on Consumer Price Index was 3.18 percent in June 2019. The inflation figures are based on data collected from limited markets in view of the restrictions imposed on account of coronavirus pandemic, the Ministry of Statistics & Programme Implementation said in a release. (Image: Reuters)

8. Travel Will Grow Once COVID-19 Fears Subside, Says IRCTC: Travel and tourism has been hit hard by the COVID-19 pandemic and the consequent nationwide lockdown. Mahendra Pratap Mall, chairman and managing director of IRCTC, spoke about the challenges the company faces in a post-pandemic world. On the impact of COVID-19 on the industry, Pratap said: “Things are opening up for different purposes, but for travel and tourism things have still not opened up. “Currently, people are travelling only when it is inescapable or it is mandatory or very essential, and even in such situation they are preferring private mode of transport where they feel safe about hygiene, etc. Public transport, buses, trains and even air travel, all these segments are highly affected and there is still fear among people. (Image: Reuters)

9. India's GDP To Contract 7.5%, Says Report: A longer wait for a vaccine against COVID-19 virus may lead to a contraction of up to 7.5 percent in the Indian GDP in FY21, a foreign brokerage said on Monday. Economists at Bank of America Securities also revised down their base case estimates on the real GDP within a week, and now expect it to contract by 4 percent because of a drop in economic activity. Many analysts are expecting the Indian economy to contract by 5 percent in FY21 as a result of the nationwide lockdowns, with some also estimating a contraction of up to 7.2 percent in the GDP. (Image: Reuters)

10. India To Boost Dairy Exports: In a bid to ensure that the Indian dairy sector continues to be “Atmanirbhar”, New Delhi is working on a strategy to boost dairy exports and domestic production. According to government sources, Prime Minister Narendra Modi recently reviewed the strategy to incentivise investments in dairy sector and measures to improve livestock productivity. “Laying a special thrust on dairy sector, Prime Minister reviewed the vision of India to become a major dairy products exporter in next 3-5 years. The government is also aiming to fast-track organised off-take of milk produce to 50%. Once the organised off take increases it will, in turn, increase milk production, ensure predictability of demand and assured prices to farmers,” the sources said. ( Stock Image)