Moneycontrol PRO

Top 10 things to know before the market opens

Trends on SGX Nifty indicate a negative opening for the index in India with a 35 points loss.

August 31, 2021 / 07:45 AM IST

The Indian stock market is expected to open in the red as trends on SGX Nifty indicate a negative opening for the index in India with a 35 points loss.

BSE Sensex surged 765.04 points or 1.36 percent to 56,889.76, while the Nifty50 jumped 225.80 points or 1.35 percent to 16,931 and formed a bullish candle on the daily charts.

According to pivot charts, the key support levels for the Nifty are placed at 16,813.43, followed by 16,695.77. If the index moves up, the key resistance levels to watch out for are 17,000.13 and 17,069.17.

Stay tuned to Moneycontrol to find out what happens in the 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

Close

The S&P 500 and Nasdaq hit record highs on Monday as technology stocks jumped after the Federal Reserve's dovish comments eased fears of a sudden tapering in monetary stimulus and boosted optimism around an economic recovery.

The Dow Jones Industrial Average was up 0.1%, the S&P 500 and the Nasdaq Composite added 0.59% and 0.91%, respectively.

Asian Markets

Shares in Asia-Pacific mostly slipped in Tuesday morning trade, as data showed slowing Chinese factory activity growth in August.

The Nikkei 225 shed 0.1% while the Topix index declined 0.27%. South Korea’s Kospi dipped 0.15%.

SGX Nifty

Trends on SGX Nifty indicate a negative opening for the index in India with a 35 points loss. The Nifty futures were trading at 16,929 on the Singaporean Exchange around 07:00 hours IST.

Niti Aayog suggests tax incentives for investment in InvITs

Niti Aayog has suggested to the government to provide tax incentives for investment in InvITs, and bring them under the IBC to attract retail as well as institutional investors to achieve the goals of the National Monetisation Pipeline scheme.

The Aayog in consultation with infra line ministries has prepared and released a report on National Monetisation Pipeline (NMP) this month.

Go Airlines gets Sebi nod for Rs 3,600 crore IPO

Budget carrier Go Airlines, which has rebranded itself as 'Go First', has received market regulator Sebi's go-ahead for an initial public offer worth Rs 3,600 crore.

The airline plans to garner up to Rs 3,600 crore through sale of shares, according to the Draft Red Herring Prospectus (DRHP). It also plans to raise up to Rs 1,500 crore by way of a pre-IPO (Initial Public Offer) placement.

German inflation hits fresh 13-year high in August

Germany’s annual consumer price inflation accelerated to a fresh 13-year high in August, data showed on Monday, underlining growing price pressures as Europe’s largest economy recovers from the pandemic and companies struggle with supply shortages.

Consumer prices, harmonised to make them comparable with inflation data from other European Union countries (HICP), rose 3.4% compared with 3.1% in July, preliminary figures from the Federal Statistics Office showed.

China's factory activity expands at slower pace in August, services contract

China's factory activity expanded at a slower pace in August, while the services sector slumped into contraction, as coronavirus-related restrictions and high raw material prices pressure businesses in the world's second largest economy.

The official manufacturing Purchasing Manager's Index (PMI) was 50.1 in August from 50.4 in July, data from the National Bureau of Statistics (NBS) showed on Tuesday.

Oil settles up as US producers, refiners assess storm damage

Oil rose on Monday, lifted as US Gulf Coast platforms, refineries and pipelines grappled with uncertainty on restart timelines after Hurricane Ida wreaked havoc on the region.

Global benchmark Brent settled at $73.41 a barrel, up 71 cents or 0.98%. Brent touched a session high of $73.69, the highest since August 2. US crude futures rose 47 cents, or 0.68% to $69.21 a barrel.

Euro zone bond yields fall

Euro zone bond yields fell on Monday, tracking a downward move in U.S. Treasuries, after showing little reaction as German inflation rose to a fresh 13-year peak.

FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 1,202.81 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 688.85 crore in the Indian equity market on August 30, as per provisional data available on the NSE.

With inputs from Reuters & other agencies
Sandip Das
first published: Aug 31, 2021 07:45 am
Sections
ISO 27001 - BSI Assurance Mark