The week after the Narendra Modi-led government faced and won the no-confidence motion in the Parliament and the GST Council lowered taxes on more than 50 products, the businesses, markets and watchers should look out for:
Deficient Rainfall in 25% of India
One-fourth of the country has received “deficient” rainfall with Bihar being the most monsoon deficiency at 48%, and east Uttar Pradesh and Jharkhand recording 46% and 42% respectively. Deficiency in the eastern part of India, especially in Bihar and Jharkhand, has crossed the 40% according to the Indian Meteorological Department. However, the nation-wide deficiency is 3%.
But southern peninsula and central India, have recorded 15% and 16% more rainfall than the average respectively.
How oil reacts to G20 warning
On Monday the oil prices were mixed as finance ministers and central bank governors from the G20 warned on Sunday that risks to global growth have increased with rising trade and geopolitical tensions among other vulnerabilities. However, the two-day G20 meet ended with little consensus on how to resolve multiple disputes over US tariff actions.
Repercussions of Trump’s comments on trade tariffs and dollar
President Donald Trump said late last week that a new round of US tariffs on Chinese goods was “ready to go” and that China and the European Union were manipulating their currencies. US threatened to impose tariffs on all $500 billion of Chinese exports to the United States unless Beijing agrees to major structural changes to its technology transfer, industrial subsidy and joint venture policies.
Key Earnings
Domestic: ACC, Delta Corp, Granules India, Hindustan Zinc, ICICI Securities, Indiabulls Ventures, L&T Infotech, L&T Technology Services, United Spirits, Vijaya Bank
Global : Alphabet, Facebook, AT&T, Amazon.com, Twitter, Advanced Micro Devices, Qualcomm and Intel will announce their qaurterly results this week in addition to global financial giants Deutsche Bank, UBS, Nomura and Visa.
Global events
- European Central Bank’s policy decision Thursday (July 26).
- U.S. gross domestic product data to be released on Friday (July 27).
- Pakistan holds national elections Wednesday (July 25).
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