 "10 things you should know before the opening bell")
Global news:
Asian stocks slipped on Tuesday, while Brent crude held near a five-month high after the United States signaled possible military action against the Syrian government over a suspected chemical weapons attack.
US stocks fell in light volume on Monday after US Secretary of State John Kerry called Syria’s use of chemical weapons “undeniable.“In a kneejerk reaction to Kerry’s strong words against Syria, major US stock indexes gave up their gains and turned negative in the last hour of trading.
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The dollar was marking time against the majors on Tuesday after disappointing U.S. data dragged Treasury yields lower but failed to budge bets the Federal Reserve will start tapering stimulus next month.
Business/ Stock news:
The Cabinet Committee on Investment (CCI) metto discuss 28 stalled mega power projects for expeditious clearance.According to sources, apart from 28 projects, there were other projects as well which have been considered by the CCI today. All of them have been given a go-ahead. The total number of projects that were considered today stood at around 36 which meant an investment of about Rs 1.9 lakh crore.
The National Spot Exchange (NSEL) fiasco is getting murkier by the day. According to sources in the tax department NSEL has no stocks in its warehouses and hence no purchases were made. However, the taxman is probing if any unaccounted money has been siphoned off.
The Department of Industry Policy and promotion (DIPP) has cleared the decks for100 percent foreign direct investment (FDI) in the telecomsector. The notification to this effect says that upto 49 percent FDI in telecom is allowed under the automatic route.
Economy news:
The Lok Sabha approved a plan worth nearly $20 billion on Monday to provide cheap grain to the poor, a key part of the ruling Congress party’s strategy to win re-election.
Incoming Reserve Bank of India (RBI) Governor Raghuram Rajan will prioritise currency stability over inflation and growth, according to a Reuters poll which also showed the worst is not over for the rupee.The rupee has lost around 15 percent to the dollar, hitting record lows almost daily, since the US Federal Reserve hinted in May that it would soon begin paring back its massive economic stimulus programme, sparking an investor exodus from emerging markets seen as the most exposed to foreign funding.