SBI in focus: Things you should know before the opening bell

Global cues:

The Dow industrials eked out a slim gain on Monday to end at another record high, after the Nasdaq topped 4,000 for the first time in 13 years and then slipped to close below that level.Wal-Mart Stores Incshares rose 0.8 percent to close at $80.43, off an all-time intraday high of $80.57 after the world’s largest retailer said it has chosen its next chief executive. The stock was among the Dow’s best performers.

Asian shares headed for a third straight session of gains, though Tokyo’s Nikkei benchmark retreated from a six-month high as the yen recovered some of Monday’s steep losses.

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Oil prices stabilized on Tuesday after Monday’s slide as traders questioned how quickly the Iranian nuclear accord could translate into higher supplies, while the yen came off a four-year trough against the euro.

Business/Stock news:

TheState Bank of India Ltdhas begun an internal investigation into the bribery charges againstShyamal Acharya, one of its deputy managing directors. The two-member committee consists of two senior managing directors.

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Prodded by the Airports Authority of India (AAI) to pay off their dues, Jet Airways and SpiceJet on Monday promised the state-run airports body to make part payments by this weekend, official sources said. While SpiceJet would pay up Rs 25 crore by 29 November to clear its outstanding dues, Jet Airways has agreed to pay Rs.80 crore by 29 November and another Rs.12 crore of its dues by 10 December, official sources said.

British fair trade watchdog OFT on Monday said Diageo’s acquisition of United Spirits is against competition and may lead to higher whisky prices in the UK. The Office of Fair Trading (OFT) will have a fresh look at the deal in the wake of a new proposal made by the companies to sell bulk of Whyte & Mackay business of Indian liquor major to address the competition issues in the British whisky market.

Economy news:

In a move to combat non-performing assets (NPAs) of close to 5 percent, the Finance Ministry has asked public sector banks to delineate good and bad promoters. A bad promoter according to the FinMin is any promoter who has willfully defaulted at any project. The ministry has asked all PSU banks to stop lending to such promoters even if it is for another project, subsidiary or any other group company.