10 things you need to know before the opening bell

Global market cues

US stocks ended higher on the first day of the third quarter on Monday, supported by signs of strength in manufacturing and construction sectors. But the major stock indexes pulled back from their session highs late in the day as investors sold some shares to book profits.(Reuters)

Asian stocks rose on Tuesday with Tokyo’s Nikkei extending gains after encouraging manufacturing data in Europe and the United States helped cheer a market fretting about a slowing Chinese economy.(Reuters)

The US dollar and yen were both on the back foot on Tuesday as a swathe of global industry data suggested an improvement in growth without being strong enough to risk any reduction in monetary stimulus from the Federal Reserve.(Reuters)

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[caption id=“attachment_920479” align=“alignleft” width=“380”]  Representative image. Agencies.[/caption]

Gold was a fraction lower on Tuesday after mixed US economic data added to uncertainty over whether the Federal Reserve will begin to scale back its stimulus measures this year. The precious metal had risen in the previous session on short covering following recent losses, but investors continue to shun gold’s safe-haven appeal with outflows from gold backed exchange-traded funds (ETFs) hitting a new four-year low. (Reuters)

Business/Stock news:

The country’s largest two-wheelermaker Hero MotoCorp reported 5.95 per cent decline intotal sales at 5,02,279 units for June this year.

Tata Motors, after the company reported a 7 percent increase in its total vehicle sales in June. Passenger vehicles, however, declined 30 percent and medium and heavy commercial vehicles 12 percent.

Tata Power, after Moody’s Investor Services downgraded its outlook for the company to negative from stable.

Jet Airways, after them media reported that the Prime Minister’s Office has sought the proposal to be brought before the Union Cabinet. According to CNBC-TV18, the cabinet secretary is chairing a meeting to discuss the concerns raised about the deal, including the impact on Air India.

Economy news:

The home ministry has raised concerns about increasing the foreign direct investment in sensitive sectors such as defence and civil aviation. The move is likely to delay the FDI reforms.

Inter-ministerial body Telecom Commission (TC) in its meeting today is likely to take up the proposal for hiking Foreign Direct Investment limit in the sector from 74 per cent to 100 per cent. “It (FDI in telecom) will be discussed in the TC (Telecom Commission) meeting tomorrow,” a senior government official told PTI.