You are here: Home » Markets » News
Business Standard

Market Ahead, August 20: All you need to know before the Opening Bell

Stocks of non-banking financial firms may be in focus today after the government said such firms would no longer have to maintain a certain level of redemption reserves against them

BS Web Team  |  New Delhi 

Global cues, rupee trajectory, and oil price movement will be the top factors that will give direction to the today as investors continue to await measures from the government to spur growth.

Stocks of non-banking financial firms may be in focus today after the government said such firms would no longer have to maintain a certain level of redemption reserves against them.

On the taxation front, the Direct Tax Code (DTC) task force has recommended a significant increase in the highest income tax slabs, besides slashing the corporate tax rate to an even rate of 25 per cent for both domestic and foreign companies, as per a Business Standard report.

Globally, senior White House officials are reportedly discussing a temporary payroll tax cut to boost the economy. The People’s Bank of China has already taken steps to lower corporate borrowing costs while Germany is reportedly prepared to increase fiscal spending.

Yesterday, the S&P BSE Sensex ended 0.14 per cent higher at 37,402 levels, while the Nifty50, settled at 11,054 levels, up 0.05 per cent. In the currrency market, the Rupee tumbled 28 paise to close at an over six-month low of 71.43 against the dollar.

Asian shares extended their gains on Tuesday as hopes for stimulus in major economies tempered anxiety about a global recession. MSCI’s broadest index of Asia-Pacific shares outside Japan nudged up 0.04 per cent, while Japan’s Nikkei jumped 0.47 per cent. The improved mood was helped by a rally on Wall Street overnight, with the S&P 500 gaining 1.21 per cent and the Dow Jones up 0.96 per cent.

At 07:43 am, Nifty futures on the Singapore Exchange were trading 16.50 points lower at 11,040, indicating a negative start for the Indian market today.

Here's a look at the top headlines for the day -

-- RBI Governor Shaktikanta Das has said it's time to formally link lending rates to repo rate;

-- Cash-strapped DHFL makes fresh default on Rs 1,571-crore bond repayments;

-- PM Modi raises Imran Khan's 'extreme' anti-India rhetoric with Donald Trump; &

-- Sebi to relax buyback norms for companies with HF, NBFC subsidiaries.

MONTHLY STAR

Business Standard Digital

Business Standard Digital Monthly Subscription
149.00  
subscribe
Complete access to the premium product
Convenient - Pay as you go
Pay using Master/Visa Credit Card & ICICI VISA Debit Card
Auto renewed (subject to your card issuer's permission)
Cancel any time in the future
Requires personal information

What you get?

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all the content on any device through browser or app.
  • Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.
  • 18 years of archival data.

NOTE :

  • The product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the email with the cancellation request to assist@bsmail.in. Include your contact number for speedy action. Requests mailed to any other ID will not be acknowledged or actioned upon.

SMART MONTHLY

Business Standard Digital

Business Standard Digital - 12 Months
1499.00
subscribe
Get 12 months of Business Standard digital access
Single Seamless Sign-up to Business Standard Digital
Convenient - Once a year payment
Pay using an instrument of your choice - Credit/Debit Cards, Net Banking, Payment Wallets accepted
Exclusive Invite to select Business Standard events

What you get

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all content on any device through browser or app.
  • Exclusive content, features, opinions and comment - hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.

NOTE :

  • This product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the mail with the request to assist@bsmail.in. Include your contact number for easy reference. Requests mailed to any other ID will not be acknowledged or actioned upon.
First Published: Tue, August 20 2019. 08:04 IST
RECOMMENDED FOR YOU