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10 things you need to know before the opening bell on July 24

Updated : 2019-07-24 07:30:55

Indian shares are likely to open lower on Wednesday over continued selling pressure by foreign investor and weaker-than-expected June quarter earnings. Asian shares traded marginally higher following reports that US and China may resume trade negotiations next week. Indian benchmark indices BSE Sensex and NSE’s Nifty 50 declined for a fourth straight session, dragged by losses mainly in financials amid concerns over tepid corporate earnings. At 7.10 AM, the SGX Nifty futures traded 14 points, or 0.12 percent, lower at 11,311, pointing to a negative start for the Sensex and the Nifty 50.

1. Asia: Asian shares nudged higher amid hints of progress in the Sino-US trade saga, while the dollar hit two-month highs on the euro as investors wagered on a dovish outcome from the European Central Bank's coming policy meeting. Japan's Nikkei added 0.4 percent in early trade, while Australian stocks rose 0.6 percent. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.04 percent. (Image: Reuters)
1. Asia: Asian shares nudged higher amid hints of progress in the Sino-US trade saga, while the dollar hit two-month highs on the euro as investors wagered on a dovish outcome from the European Central Bank's coming policy meeting. Japan's Nikkei added 0.4 percent in early trade, while Australian stocks rose 0.6 percent. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.04 percent. (Image: Reuters)
2. US: The S&P 500 and Nasdaq approached record highs on Tuesday, lifted by upbeat quarterly reports from Coca-Cola and United Technologies and on optimism the United States would resolve its trade conflict with China. The Dow Jones Industrial Average rose 0.65 percent to end at 27,349.19, while the S&P 500 gained 0.68 percent to 3,005.47. The Nasdaq Composite added 0.58 percent to 8,251.40. (Image: Reuters)
2. US: The S&P 500 and Nasdaq approached record highs on Tuesday, lifted by upbeat quarterly reports from Coca-Cola and United Technologies and on optimism the United States would resolve its trade conflict with China. The Dow Jones Industrial Average rose 0.65 percent to end at 27,349.19, while the S&P 500 gained 0.68 percent to 3,005.47. The Nasdaq Composite added 0.58 percent to 8,251.40. (Image: Reuters)
3. Markets At Close On Tuesday: The Indian markets ended lower for the fourth consecutive day on Tuesday after Nifty failed to hold above 11,350 level. At close, the Sensex was down 48.29 points at 37,982.74 while the Nifty was down 15.20 points at 11,331. Meanwhile, foreign institutional investors (FIIs) sold shares worth Rs 2,608 crore on a net basis in the cash market, while domestic institutional investors (DIIs) bought shares worth Rs 2,625 crore on July 23. (Image: Reuters)
3. Markets At Close On Tuesday: The Indian markets ended lower for the fourth consecutive day on Tuesday after Nifty failed to hold above 11,350 level. At close, the Sensex was down 48.29 points at 37,982.74 while the Nifty was down 15.20 points at 11,331. Meanwhile, foreign institutional investors (FIIs) sold shares worth Rs 2,608 crore on a net basis in the cash market, while domestic institutional investors (DIIs) bought shares worth Rs 2,625 crore on July 23. (Image: Reuters)
4. Currency: In currency markets, the dollar index against a basket of six major currencies fell up 0.01 percent to 97.695. The Indian rupee increased 0.03 paise or 0.04 percent to Rs 68.94 on Tuesday. (Image: Reuters)
4. Currency: In currency markets, the dollar index against a basket of six major currencies fell up 0.01 percent to 97.695. The Indian rupee increased 0.03 paise or 0.04 percent to Rs 68.94 on Tuesday. (Image: Reuters)
5. Crude: Oil prices firmed after the head of US Central Command said the United States may have taken down a second Iranian drone over the Strait of Hormuz last week. Brent crude futures firmed 31 cents to $64.14, while US crude rose 27 cents to $57.04 a barrel. (Image: AP)
5. Crude: Oil prices firmed after the head of US Central Command said the United States may have taken down a second Iranian drone over the Strait of Hormuz last week. Brent crude futures firmed 31 cents to $64.14, while US crude rose 27 cents to $57.04 a barrel. (Image: AP)
6. RBI Rejigs Deputy Governor's Portfolios: With the exit of Viral Acharya, the Reserve Bank on Tuesday rejiged portfolios of the other three deputy governors giving the important monetary policy and forecasting department to B P Kanungo, an official release said. The monetary policy department, including forecasting and modelling unit, was earlier looked after by Acharya, who ended his stint as the deputy governor after last month's surprise resignation where the outspoken academic chose to cut short his time in office. Now, all the other three deputy governors -- N S Vishwanathan, B P Kanungo and M K Jain -- have been made responsible for 12 departments each. (Image: Reuters)
6. RBI Rejigs Deputy Governor's Portfolios: With the exit of Viral Acharya, the Reserve Bank on Tuesday rejiged portfolios of the other three deputy governors giving the important monetary policy and forecasting department to B P Kanungo, an official release said. The monetary policy department, including forecasting and modelling unit, was earlier looked after by Acharya, who ended his stint as the deputy governor after last month's surprise resignation where the outspoken academic chose to cut short his time in office. Now, all the other three deputy governors -- N S Vishwanathan, B P Kanungo and M K Jain -- have been made responsible for 12 departments each. (Image: Reuters)
7. RBI Launches Utkarsh 2022: RBI Governor Shaktikanta Das on Tuesday launched Utkarsh 2022, the central banks' medium-term strategy framework, in line with evolving macro-economic environment, said an official release. The framework has been launched to achieve excellence in the performance of RBI's mandates and strengthening the trust of citizens and other institutions. The Reserve Bank of India said its management attaches high importance to 'Utkarsh 2022' and will periodically monitor its implementation and progress through a sub-committee of the Central Board. (Image: Reuters)
7. RBI Launches Utkarsh 2022: RBI Governor Shaktikanta Das on Tuesday launched Utkarsh 2022, the central banks' medium-term strategy framework, in line with evolving macro-economic environment, said an official release. The framework has been launched to achieve excellence in the performance of RBI's mandates and strengthening the trust of citizens and other institutions. The Reserve Bank of India said its management attaches high importance to 'Utkarsh 2022' and will periodically monitor its implementation and progress through a sub-committee of the Central Board. (Image: Reuters)
8. PSB Loans In 59 Minutes: Five state-run banks- State Bank of India, Union Bank of India, Oriental Bank of Commerce, Corporation Bank and Andhra Bank will offer in-principle approval up to Rs 5 crore to MSME borrowers through PSB Loans in 59 Minutes platform. The platform, which was launched in November 2018, was initially offering loan approval upto Rs 1 crore. Other PSBs and private sector banks are also in process to increase the limit upto Rs 5 crore, a release said. (Image: Reuters)
8. PSB Loans In 59 Minutes: Five state-run banks- State Bank of India, Union Bank of India, Oriental Bank of Commerce, Corporation Bank and Andhra Bank will offer in-principle approval up to Rs 5 crore to MSME borrowers through PSB Loans in 59 Minutes platform. The platform, which was launched in November 2018, was initially offering loan approval upto Rs 1 crore. Other PSBs and private sector banks are also in process to increase the limit upto Rs 5 crore, a release said. (Image: Reuters)
9. Black Money: The government on Tuesday said there is no official estimation of black money in the country, however, it has taken several concrete steps to crack down on illicit funds.
9. Black Money: The government on Tuesday said there is no official estimation of black money in the country, however, it has taken several concrete steps to crack down on illicit funds. "There is no official estimation of black money in the country," Minister of State for Finance Anurag Singh Thakur said in a written reply in Parliament. He said the government has taken several concrete steps to crack down on black money, including enactment of the 'Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015', which came into effect from July 2015 to specifically and more effectively deal with the issue of black money stashed away abroad. (Image: Reuters)
10. Parliament Approves Maiden Budget: Parliament on Tuesday gave its approval to Modi-2.0 government's maiden budget with Finance Minister Nirmala Sitharaman saying tax proposals aim at redistribution of funds to bring more equitable development. The Appropriation (No 2) Bill, 2019 and the Finance (No 2) Bill, 2019 -- cleared by Lok Sabha last week -- were returned by the Rajya Sabha on Tuesday after a voice vote. This completed the three-stage Parliamentary approval process, which also included a debate on the general budget and working of some of the ministries. (Getty Image)
10. Parliament Approves Maiden Budget: Parliament on Tuesday gave its approval to Modi-2.0 government's maiden budget with Finance Minister Nirmala Sitharaman saying tax proposals aim at redistribution of funds to bring more equitable development. The Appropriation (No 2) Bill, 2019 and the Finance (No 2) Bill, 2019 -- cleared by Lok Sabha last week -- were returned by the Rajya Sabha on Tuesday after a voice vote. This completed the three-stage Parliamentary approval process, which also included a debate on the general budget and working of some of the ministries. (Getty Image)
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