INSUBCONTINENT EXCLUSIVE:
Hi there..
From ETMarkets.com, I am Saloni Goel
And This is Markets Morning,
the headlines first..
gt;> After Dow crash in overnight trade, Asian stocks rebound
>> Govt abandons plan to
sell state carrier Air India>> PNB internal report shows major lapses at many levels led to $2 billion fraud
And
>> India sees record 20%
jump in dollar millionaires in 2017
Good morning
This is Wednesday, June 20
As always, it's good to have you with us for the morning briefing.
First the good news.A day after global markets sank Tuesday on fears
that the US and China may be veering toward an all-out trade war, Asian stocks rebounded this morning as investors sought bargains
Japan's Nikkei gained 0.2 per cent, South Korea's KOSPI 0.7 per cent, and Australian stocks were up 0.8 per cent early this morning.
SP
amid worries that the tit-for-tat tariff threats would expand into an economic brawl
The SP500 index declined 11 points and tech-heavy Nasdaq fell 0.28 per cent.
Meanwhile.
Dow rewrote history on Tuesday, as the last member
of the original 12-member index was thrown out
Homegt;> Nifty futures in Singapore traded flat, signalling indecision on Dalal Street.
gt;> But investors would be spoilt for choice, as
two IPOs open for subscription
The stateowned RITES seeks to raise Rs 446 crore while Fine Organics is hitting the market with a Rs 600 crore issue.
gt;> The rupee
nosedived 39 paise on Tuesday to hit a near one-month low of 68.38 against the US dollar, but any rebound in stocks should help it recoup
losses.
gt;> Oil prices rose in early Asian trading on Wednesday, supported by a drop in US commercial crude inventories
in consumption stocks, anticipating buoyancy in both urban and rural spends on items such as cookies, soaps, packaged foods, and homecare
products.
gt;> Foreign portfolio investors have been increasing their cumulative outstanding bearish positions on Nifty and Bank Nifty of
late, indicating their expectations of a continued correction in the markets.
And
gt;> Sebi is set to revamp IPO norms to make them less
onerous for legitimate sellers while clamping down on possible misuse
BEYOND MARKETSgt;> An internal probe into the $2 billion fraud at PNB
indicated widespread risk-control and monitoring lapses in many areas of the bank which allowed a few rogue employees to dupe the PSU
lender
gt;> An ET Intelligence Group analysis showed India Inc debt levels are falling fast as net debt-EBIDTA ratio of BSE500 companies --
excluding finance and software firms -- fell to 2.5 in FY18 from 3.3 in FY15.
gt;> India has virtually abandoned a plan to sell Air India
after failing to attract buyers, and the government now plans to focus on improving it operations and selling its Mumbai building, ground
handling and aircraft maintenance units
Meanwhile,
gt;> Interim Finance Minister Piyush Goyal said on Tuesday the government was open to
discussing a RBI demand for greater powers to regulate state banks, though he said he did not believe this was needed.
AND LASTLY,Despite
adverse impact on GST implementation, India saw a 20 per cent increase in both the number of dollar millionaires and their wealth in 2017 to
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trading day ahead and make lots of money good bye
