What changed for the market while you were sleeping? 15 things you should know
A look at top cues from the domestic and international markets that could have a bearing on D-Street today.
The Nifty50 is likely to open lower on Thursday tracking muted handover from Wall Street. The Nifty50 closed 70 points lower at 9908 on Wednesday.
The Nifty50 closed below crucial support levels suggesting more downside in offing. The index broke below four support levels of 5-days exponential moving average (DEMA), 10-DEMA, 13-DEMA, and 20-DMA in just one trading day.
The Nifty50 found support near 9,900 and the best strategy would be to stay light instead of trying to ride the momentum. Given the fact that Nifty is trading near key support levels, some bit of technical bounce back cannot be ruled out.
If the index stays below 9,928 levels in the coming session, chances are that the index could well correct towards 9,850 and further towards 9,800 levels, suggest experts.
The momentum on the higher side will continue once the index closed above 9,980-10,000 levels convincingly, they say. In the futures and options market, there is a shift in option band to lower strikes which suggest that supports and resistances are shifting lower.
Asian stocks are steady in the Thursday trade, recovering from steep fall post geographical tensions between the United States and North Korea.
Stay tuned with Moneycontrol to find out what happens in currency and equity markets today. We have collated a list of important headlines from across news agencies:
US markets end flat on North Korea tensions
US stocks clawed back losses as investors appeared to brush off geopolitical concerns after falling in the wake of US President Donald Trump's "fire and fury" warning to North Korea, said a Reuters report.
Investors had rushed to safe-haven assets after strongly worded exchanges between Washington and nuclear-armed North Korea late on Tuesday.
The Dow Jones Industrial Average fell 36.64 points, or 0.17 percent, to end at 22,048.7, the S&P 500 lost 0.9 point, or 0.04 percent, to 2,474.02 and the Nasdaq Composite dropped 18.13 points, or 0.28 percent, to 6,352.33.
The Nifty50 futures on the Singapore Stock Exchange were trading 6.50 points lower at 9911 indicating a flat opening for the domestic market.
North Korea sets mid-August deadline for attacking Guam
The North Korean military is “awaiting orders” to unleash four missiles at military bases near Guam — because officials believe President Trump is too “bereft of reason” for negotiations, New York Post reported quoting the country’s state-run media reported Wednesday.
Trump's 'fire and fury' North Korea remark surprised aides
President Donald Trump's vow to respond with "fire and fury" if North Korea persisted in threatening the United States caught his foreign policy and military aides by surprise, Reuters said quoting two administration officials with direct knowledge of how the issue unfolded.
US officials and analysts cautioned against engaging in rhetorical shouting matches with Pyongyang, which in turn said it was considering a strategy to fire missiles at the US-held Pacific island of Guam, where there is a military air base, said a Reuters report.
J Kumar, Prakash Industries, Parsvnath move SAT against SEBI
Prakash Industries, J Kumar Infraprojects Ltd and Parsvnath Developers, three of the 331 firms named as shell companies by a SEBI circular, have moved the Securities and Appellate Tribunal (SAT) against the circular, sources have told Moneycontrol.
The SAT, which serves as a tribunal that reviews SEBI's orders, held a hearing from representatives of Prakash Industries and J Kumar Infra. Hearing with representatives of Parsvnath is expected to be held on Thursday.
Only 48 out of 331 suspected shell companies listed on NSE
The National Stock Exchange today said it has started collecting information about the 48 firms, that are listed on its platform, out of the 331 suspected shell companies referred by markets regulator Sebi.
The leading bourse would report to the Sebi about the 48 companies after collecting the information. Out of the 48 firms, ten entities had already been suspended before the Sebi's directive.
SIS to make a debut on bourses on August 10
Security and Intelligence Services (India) is set to list its equity shares on exchanges on Thursday, August 10. The issue price is fixed at the higher end of price band of Rs 805-815 per share.
The Rs 780-crore public issue, which was opened for subscription between July 31 and August 2, was oversubscribed 7 times. Analyst sees 10-15 percent upside potential on the listing.
Tata Motors Q1 cons profit up 42 percent on JLR one-time gain
Tata Motors' first quarter earnings missed analysts' expectations on all parameters on Wednesday. One-time gain related to JLR pension plan boosted profitability but excluding that one-off item, it would have been a loss due to forex losses.
Consolidated profit grew sharply by 41.6 percent year-on-year to Rs 3,200 crore, driven by a one-time gain of Rs 3,609 crore relating to recent changes designed to improve the sustainability of JLR's defined benefit pension plans.
Revenue on a consolidated basis declined 9.6 percent year-on-year to Rs 58,651 crore due to translation impact from British pound to the rupee.
Oil rises towards USD 53 before US inventory report
Oil rose towards USD 53 a barrel ahead of a US inventory report which was expected to show crude stocks dropped for a sixth week, although gains were capped by doubts about compliance with OPEC-led supply cuts, said a Reuters report.
Crude inventories last week fell by 7.8 million barrels, more than expected, but gasoline stocks rose unexpectedly, data from the American Petroleum Institute (API) showed.
Brent crude, the global benchmark, was up 50 cents at USD 52.64 at 1304 GMT, after two days of decline. US West Texas Intermediate (WTI) crude added 44 cents to USD 49.61.
Indian Army is in 'no war, no peace' mode in Dokalam
The Indian Army is in a 'no war, no peace' mode against the Chinese military in Dokalam and status quo continues in the area, official sources said on Wednesday.
They said there has been no specific movement of troops and weapons by the Indian Army in the area, adding whatever "movement" is taking place is for maintenance purpose.
MCX gets Sebi approval for launching options contract in gold
The Multi Commodity Exchange Ltd (MCX) on Wednesday said it has received markets regulator Securities and Exchange Board of India's (Sebi) approval to launch country's first gold options contract soon.
"We have received the approval to launch options on futures in the gold contract from Sebi. We have already commenced mock trading and conducting bullion participant awareness events. In the next couple of weeks, we will finalise exact contract specifications and launch date," MCX spokesperson Girish Dev told PTI here.
Rupee wobbles on global tensions
Amid heightened global uncertainties, the rupee on Wednesday retreated sharply by 21 paise to end at 63.84 against the American currency due to fresh demand for the greenback from importers and banks.
Simmering geopolitical tensions took centre-stage once again following hardening of stand by both the US and North Korea, dampening forex market sentiment.
Swiss franc, yen rise against USD
The Swiss franc rallied hard against the euro and the U.S. dollar on Wednesday, as increased tensions between the United States and North Korea led investors to look for assets deemed as less risky, said a Reuters report.
The dollar also slipped 0.26 percent lower against the yen to 110.01 yen. The dollar index, which tracks the greenback against six rival currencies, was down 0.12 percent to 93.53, after rising as high as 93.888 earlier in the session.
340 companies to report Q1 results today:
As much as 340 companies on the BSE will be declaring their results for the quarter ended June 30 later today which include names like Adani Power, Bharat Forge, BHEL, Bombay Dyeing, Deepak Fertilisers, GAIL India, Gujarat Gas, India Overseas Bank, Kajaria, Manappuram Finance, MOIL, Motherson Sumi, National Fertilisers, Page Industries, Petronet LNG, Religare Enterprises, Rupa & Company, SpiceJet, United Breweries, United Bank of India among others.
9 stocks under ban period on NSE
Security in ban period for the next trade date under the F&O segment includes companies in which the security has crossed 95 percent of the market-wide position limit.Securities which are banned for trading today include names like DLF, HDIL, Indiabulls Real Estate, India Cements, JP Associates, Jindal Steel, Jain Irrigations, JSW Energy, and Wockhardt.