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Last Updated : Aug 12, 2020 07:57 AM IST | Source: Moneycontrol.com

What changed for the market while you were sleeping? Top 10 things to know

Trends on SGX Nifty indicate a negative opening for the index in India with a 103 points loss.

The Indian stock market is expected to open in the red after US markets closed lower following uncertainty in the US fiscal stimulus measures. Trends on SGX Nifty indicate a negative opening for the index in India with a 103 points loss.

The Sensex closed 225 points, or 0.59 percent, higher at 38,407.01 on August 11 and the Nifty ended at 11,322.50, with a gain of 52 points, or 0.46 percent.

According to pivot charts, the key support level for the Nifty is placed at 11,289.93, followed by 11,257.37. If the index moves up, the key resistance levels to watch out for are 11,364.33 and 11,406.17.

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Stay tuned to Moneycontrol to find out what happens in currency and equity markets today. We have collated a list of important headlines across news platforms which could impact Indian as well as international markets:

US Markets

US stocks closed lower on Tuesday, with the S&P 500 and Dow snapping a seven-day streak of gains and falling late in the session on growing uncertainty about breaking a stalemate in Washington over a fiscal stimulus deal.

The Dow Jones Industrial Average fell 104.53 points, or 0.38%, to 27,686.91, the S&P 500 lost 26.78 points, or 0.80%, to 3,333.69 and the Nasdaq Composite dropped 185.53 points, or 1.69%, to 10,782.82.

Asian Markets

Asian stocks were set for choppy trade on Wednesday after Wall Street dipped amid growing uncertainty about an additional round of US fiscal stimulus. Australia’s S&P/ASX 200 rose 0.2% and Japan’s Nikkei 225 was up 0.3%. Hong Kong’s Hang Seng index futures lost 0.21%.

SGX Nifty

Trends on SGX Nifty indicate a negative opening for the index in India with a 103 points loss. The Nifty futures were trading at 11,237 on the Singaporean Exchange around 07:30 hours IST.

Russia becomes first country to approve a COVID-19 vaccine: Vladimir Putin

President Vladimir Putin said on August 11 that Russia had become the first country in the world to grant regulatory approval to a COVID-19 vaccine after less than two months of human testing, a move hailed by Moscow as evidence of its scientific prowess.

Putin said the vaccine, developed by Moscow's Gamaleya Institute, was safe and that it had even been administered to one of his daughters. Its approval by the health ministry foreshadows the start of a larger trial involving thousands of participants, commonly known as a Phase III trial.

India's industrial output for June contracts to 16.6%

India's industrial output contracts to 16.6 percent in June as against a 1.3 percent growth year-on-year (YoY), as per the Index of Industrial Production (IIP) data released by the government on August 11. In June this year, the manufacturing sector contracted 17.1 percent as against a growth of 0.3 percent YoY. Mining sector contracted 19.8 percent vs a growth of 1.5 percent on year and electricity production contracted 10 percent as against an 8.6 percent growth in corresponding period last year.

"The Index for the month of June 2020 stands at 107.8 as compared to 53.6 and 89.5 for April 2020 and May 2020," the Ministry of Statistics and Programme Implementation has said.

Oil eases as US stimulus hopes dim, virus cases rise

Oil prices fell about 1 percent on Tuesday after rising earlier in the session as hopes dimmed for a swift stimulus package to relieve the U.S. economy as coronavirus cases increased globally.

Brent crude futures fell 49 cents, or 1.1%, to settle at $44.50 a barrel. U.S. West Texas Intermediate (WTI) crude futures fell 33 cents, or 0.8%, to finish at $41.61 a barrel.

Domestic PV sales dip 4% in July; signs of green shoots visible: SIAM

Passenger vehicle (PV) wholesales in India witnessed a 3.86 percent fall to 1,82,779 units in July, according to data from the Society of Indian Automobile Manufacturers (SIAM). The wholesale figure had stood at 1,90,115 units in the corresponding month of the previous year.

The July PV sales are significantly better than June when the despatches had declined by 49.59 per cent at 1,05,617 units as against 2,09,522 units in the same month last year, SIAM stated. The figures instilled some confidence in the industry, it added. According to the latest data, two-wheeler sales were down 15.24 per cent in July to 12,81,354 units as compared with 15,11,717 units in the same month last year.

Results on August 12

Aurobindo Pharma, Bharat Forge, Ashok Leyland, Tata Power, Thermax, Aarti Industries, Advanced Enzyme, Aster DM Healthcare, Balaji Amines, Brigade Enterprises, Century Plyboards, Cummins India, eClerx Services, Graphite India, GSFC, Gulf Oil Lubricants, Indostar Capital Finance, Kalpataru Power Transmission, Natco Pharma, NCC, Sundram Fasteners, Transport Corporation of India, etc.

FII and DII data

Foreign institutional investors (FIIs) bought shares worth Rs 1,013.66 crore while domestic institutional investors (DIIs) sold shares worth Rs 1,415.54 crore in the Indian equity market on August 11, as per provisional data available on the NSE.​

9 stocks under F&O ban on NSE

Bata India, Canara Bank, Century Textiles, Glenmark Pharmaceuticals, Indiabulls Housing Finance, Vodafone Idea, Muthoot Finance, Steel Authority of India and Vedanta are under the F&O ban for August 12. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.​

With inputs from Reuters & other agencies
First Published on Aug 12, 2020 07:39 am
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