At best, the Nifty50 will trade in a broad upward rising channel within a defined range. RBI Governor Urjit Patel on Saturday said state-run banks need more capital to resolve bad loan problems weighing on their balance sheets. This is definitely going to boost banks, which are reeling under Rs 8 lakh crore of non- performing assets (NPAs) or bad loans. Crude oil prices jumped three per cent on Friday as the dollar fell and US drillers cut rigs, feeding a rally that boosted global benchmark Brent crude to a weekly gain, said a Reuters report. The Nikkei Japan Final Manufacturing PMI fell to 52.1 in July 2017, compared to a preliminary reading of 52.2 and a final print of 52.4 in June.Markit Economics will announce Nikkei Flash Japan Manufacturing PMI for August.

Source: Economic Times August 20, 2017 04:52 UTC