Markets extend losses for 6th session in a row; Nifty settles below 9,900

All that happened in today's trade

8:57 AM

PM Modi revives Economic Advisory Council with Bibek Debroy as chief

 

The government on Monday announced setting up an Economic Advisory Council to the Prime Minister (EAC-PM), headed by Debroy.

 

The Modi government decided to set up the panel to propel the economy, as various parameters are showing signs of weakness amid a resource crunch. 

 

The council will analyse any issue, economic or otherwise, referred to it by the PM, according to its terms of reference. The body, which is an independent council, can also take up the issues suo motu. READ MORE

8:56 AM

PM Modi's Rs 16k-cr power push

 

Setting the bar for higher government spending in the infrastructure sector, Prime Minister Narendra Modi on Monday unveiled a flagship programme called “Saubhagya — Pradhan Mantri Sahaj Bijli Har Ghar Yojana” to provide power to all households in the country by December 2018. 

 

The Rs 16,320-crore scheme aims at providing “last-mile electricity connectivity to all rural and urban households”.  READ MORE

8:54 AM

Markets today

 

Today the markets are likely to open on flat note. All emerging markets are trading mixed. The coming session is likely to witness a range of 9750 on declines and 9950 on advances

 

(Source: SMC Global)

8:52 AM

Oil Check

Crude oil prices gave back some of their gains after soaring more than 3%, with Brent hitting its highest in more than two years. Major producers said the global market was on its way to rebalancing, while Turkey threatened to cut oil flows from Iraq’s Kurdistan region to its ports.

 

US crude eased 0.2% to $52.12 a barrel, after touching its highest levels since April on Monday.

 

Brent crude edged up 0.1% to $59.10, after scaling its highest peak overnight since July, 2015.

 

8:51 AM

SGX Nifty

 

The Nifty futures on the Singaporean stock exchange were trading lower by around 33 points at 9,850, a dip of around 0.34% indicating a lower start for the Indian markets. 

8:49 AM

Asian shares slip

Asian shares slumped on Tuesday while the dollar remained off recent highs against the yen against the backdrop of rising tensions on the Korean Peninsula.

 

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.2% in early trade, following losses on Wall Street.

 

Australian shares were up 0.1%, while South Korean shares were 0.3% down.

 

Japan’s Nikkei stock index sagged 0.2%, pressured by a stronger yen.

 

8:46 AM

North Korea tensions rise

North Korea’s foreign minister said on Monday that a weekend tweet by President Donald Trump counted as a declaration of war on North Korea and that Pyongyang reserved the right to take countermeasures, including shooting down U.S. bombers even if they are not in its air space.

8:46 AM

Wall Street ends lower

US stocks closed lower Monday as declines in technology stocks offset gains in energy stocks.

 

The major US stock indexes recovered some losses in the close. The Dow Jones industrial average closed 53.50 points lower, or 0.24%, at 22,296.09. The Nasdaq composite briefly fell more than 1 percent but closed 0.88% lower at 6,370.59 in its worst day since September 5.

8:44 AM

Good Morning and welcome to market's live blog. Catch all the live market action here