Sell-off resumed in the stock markets last week, compounded by growth concerns in China and global trade tensions. As bilateral trade talks between the United States and China stalled, China’s already softening economy and weakening currency has come under pressure.
The rupee remained stable for the week and closed below 73.5 against the dollar on Firday. Brent Crude corrected to close at $79.66.
Here are the key global and national events that are likely to impact economy and businesses this week.
- Domestic Quarterly earning to watch: Asian Paints, Can Fin Home, CCL Products, Glaxosmithkline Pharmaceuticals, Hatsun Agro Product, Hindustan Oil Exploration, Hindustan Zinc, Inox Leisure, Jubilant Life Sciences, Kansai Nerolac Paints, Lumax Industries, Maharashtra Scooters, Lakshmi Machine Works, Oberoi Realty, Omax Autos, Schaeffler India, Welspun India
- The government is considering converting the Employees’ Provident Fund Organisation (EPFO) into a fund manager for investments of all social security corpus under the mega recast being planned to deliver universal social security for 50 crore workers in the country.
- Foreign investors have pulled out close to Rs 32,000 crore from the Indian capital markets in the first three weeks of this month due to the ongoing global trade tiff, rising crude prices and higher US treasury yields.
- President Trump has said that Washington would withdraw from a landmark Cold War-era treaty that eliminated nuclear missiles from Europe because Russia was violating the pact, triggering a warning of retaliatory measures from Moscow.
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