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 gap down on Friday tracking weak handover from Wall Street. The Nifty50 closed 87 points lower at 9820 on Thursday.
The index formed a bearish candle for the fourth consecutive day in a row and a convincing breach of 50-DMA in the next few sessions could lead to further downside in the markets.
The last minute pull back from crucial support levels suggest that bulls have not given hope on D-Street yet and are eager to bounce back. If global cues remain stable, we could see a slight technical bounce back on Friday.
However, bullish momentum will continue once Nifty reclaims Mount 10K. On the other hand, a fall below 9,725 could open doors for another 300 point fall. Trade with caution and strict stop losses.
Asian markets are trading lower on Friday amid tension ramped up between the US and North Korea. Hang Send was down 1.4 percent and Kospi declined nearly 2 percent.
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:
Wall Street falls amid North Korea tensions
The S&P 500 index had its biggest one-day drop in almost three months on Thursday as investors fled riskier assets, with technology stocks leading the charge, in response to an increasingly aggressive exchange of threats between the United States and North Korea, said a Reuters report.
US equities steepened their losses late in the session after President Donald Trump said his earlier warnings to North Korea may not have been tough enough, it said.
The Dow Jones Industrial Average closed down 204.69 points, or 0.93 percent, at 21,844.01, the S&P 500 lost 35.81 points, or 1.45 percent, to end the session at 2,438.21 and the Nasdaq Composite fell 135.46 points, or 2.13 percent, to 6,216.87.
The Nifty50 futures on the Singapore Stock Exchange were trading 109 points lower at 9755 indicating a lower opening for the domestic market.
Trump issues stern warning to North Korea and its leader
President Donald Trump ratcheted up his rhetoric toward North Korea and its leader on Thursday, warning Pyongyang against attacking Guam or US allies after it disclosed plans to fire missiles over Japan to land near the US Pacific territory, said a Reuters report.
North Korea's army will complete the plans in mid-August to fire four intermediate-range missiles over Japan to land near Guam when they will be ready for Kim's order, state-run KCNA news agency said.
Tribunal stays SEBI order on Prakash Industries & J Kumar Infra
In a relief for Prakash Industries and J Kumar Infra, the Securities and Appellate Tribunal (SAT) has stayed SEBI’s order against them. The market regulator had subsequently asked stock exchanges to take appropriate action against them.
The Tribunal has directed the stock exchanges to resume trading in these two stocks and revert them to an earlier position. The two companies had on Wednesday moved SAT against the SEBI circular that named them 'shell companies'.
Cochin Shipyard to list shares on August 11
Cochin Shipyard, the largest public sector shipyard company, will make a debut on exchanges on Friday, August 11. The issue price is fixed at the higher end of price band of Rs 424-432 per share. Most analysts see a listing premium of 20 percent.
According to the grey market premium, the listing price is likely to be at a premium of around Rs 120-150 per share. It meant the opening price for the stock could be around Rs 550.
Rupee loses steam, crumbles 24 paise to crack 64-level
In line with domestic equities, the rupee today tumbled by 24 paise to hit a fresh one-week low of 64.08 against the US dollar on heavy demand for the American currency from corporates and importers.
After hitting a fresh 2-year high against a broadly week American currency last week, the domestic currency has surrendered all its gains in the recent spell of the downtrend.
SBI Q1 profit may see 5-fold jump at Rs 2485 cr
Country's largest lender State Bank of India is set to announce its consolidated earnings (along with other banking subsidiaries) on August 11.
Profit is expected to grow a whopping 394.2 percent to Rs 2,485.3 crore in the quarter ended June 2017, compared with Rs 502.9 crore in same quarter last year.
Net interest income, the difference between interest earned and interest expended, is likely to increase 3.7 percent year-on-year to Rs 18,767.2 crore in Q1.
RBI halves dividend payout to Rs 30,659 crore in FY17
The Reserve Bank of India (RBI) has halved its yearly dividend transfer to the government at Rs 30,659 crore for the financial year 2016-17, potentially upsetting the government’s fiscal math this year.
The government had budgeted to earn about Rs 58,000 crore as dividend from the RBI, and the lower payout may force the Centre to borrow more from the market, widening the fiscal deficit for 2017-18.
Oil slides on worries about global crude glut
Oil prices fell more than 1.5 percent, as a bruising day on Wall Street bolstered fears of slowing demand amid lingering concerns over a global oversupply of crude, said a Reuters report.
US West Texas Intermediate crude settled down 97 cents or 1.96 percent to USD 48.59 a barrel. Brent crude futures were down 80 cents or 1.52 percent to USD 51.90 a barrel.
NSE alerts against malicious software script
NSE today alerted market entities to guard against a 'malicious software script' that targets critical sectors like energy and finance to steal information from PCs and pass them on to adversaries outside the country.
Besides, the National Stock Exchange (NSE) asked market entities to take immediate steps to mitigate the threat.
Bharti Airtel CEO sells stake in firm to Bharti Telecom
Bharti Airtel MD and CEO Gopal Vittal today sold 1.21 lakh shares of the company to promoter firm Bharti Telecom for over Rs 5 crore.
According to the block deal data available with the NSE, the shares were offloaded at an average price of Rs 416.05 apiece, valuing the transaction at Rs 5,03,42,050.
Gold hits two-month high on Trump
The price of gold climbed to the highest levels in two months as the United States and North Korea exchanged more threats, prompting investors to buy bullion as a safe haven asset, said a report.
The spot gold price was up 0.7 percent at USD 1,286.07 per ounce by 1400 GMT, after hitting an earlier high of USD 1,286.40, its highest level since June 8. The price rose 1.3 percent in the previous session, the biggest gain since mid-May.
North Korea tensions send dollar to eight-week low
The dollar hit an eight-week low against the Japanese yen, as the escalating tensions between the United States and North Korea drove investors to seek safety in assets viewed as less risky, said a report.
The dollar was down 0.77 percent against the yen at 109.21 yen. The Japanese currency rallied broadly against most major currencies. The dollar index, which tracks the greenback against six rival currencies, was down 0.17 percent to 93.391.
464 companies to report Q1 results today:
As much as 464 companies on the BSE will be declaring their results for the quarter ended June 30 later today which include names like Aarti Industries, Allahabad Bank, Alkem, Avanti Feeds, Bosch, Bank of Baroda, BPCL, CESC, Cipla, Corporation Bank, Dalmia Bharat, GMR Infra, Godrej Industries, GVK Power, HOEC, Hindalco, HDIL, Ipca Laboratories, JSW Energy, Kolte Patil, Kalyani Steel, Max India, SAIL, State Bank of India, Sun TV, Suzlon, Tata Global Beverages, TVS Motor, ZEE Media among others.
6 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% of the market-wide position limit.Securities which are banned for trading today include names like DLF, Fortis Healthcare, Indiabulls Real Estate, Jindal Steel, Jain Irrigations, and JSW Energy.