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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 03, 2021 / 07:53 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.

The BSE Sensex gained 363.79 points to close at 52,950.63, while the Nifty50 rose 122.20 points to 15,885.20 and formed bullish candle which resembles Hanging Man kind of pattern on the daily charts.

According to pivot charts, the key support levels for the Nifty are placed at 15,848.97, followed by 15,812.73. If the index moves up, the key resistance levels to watch out for are 15,907.17 and 15,929.13.

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

US stocks reversed course on Monday to finish slightly lower, echoing a decline in oil and Treasury prices, as economic worries related to the Delta variant of the coronavirus outweighed optimism about infrastructure spending and corporate earnings.

The Dow Jones Industrial Average fell 97.31 points, or 0.28%, to 34,838.16, and the Nasdaq Composite added 8.39 points, or 0.06%, to 14,681.07.

Asian Markets

Asian stocks slipped on Tuesday, as the Delta coronavirus variant spread in key markets in the region and put Chinese authorities on high alert, rattling investor confidence.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.40% in early trading. Japan’s Nikkei was off 0.85% in early trade.

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 15,876 on the Singaporean Exchange around 07:30 hours IST.

July exports continue to surge as global orders remain strong, rise 47.9% YoY

Owing to an uptick in global orders, India's merchandise exports shot up in July, rising by a major 47.9 percent as compared to July, 2020. Impressively, exports also rose by 34.06 percent as compared to July, 2019, before the pandemic struck.

Data released by the Commerce and Industry Ministry on August 2 showed outbound trade rose to $35.17 billion in July, up from $23.78 billion in July, 2020. Cumulatively, exports have grown by 73.86 percent to $130.56 billion in the April-July period of FY22 (2021-22) as compared to the same period of 2o20. Compared to 2019, exports have gone up by 21.85 percent over same period ($ 107.15 billion), the Ministry said.

Sebi revises minimum application value, trading lot for REITs, InvITs

Markets regulator Sebi has reduced the minimum application value of REITs and InvITs, and revised trading lot to one unit for these emerging investment instruments to make them attractive for retail investors. The minimum application value has been cut down to the range of Rs 10,000-15,000 for both REITs and InvITs, compared to the earlier requirement of Rs 50,000 for REITs and Rs 1 lakh for InvITs, Sebi said in two separate notifications dated July 30.

Also, the regulator said the revised trading lot will be of one unit for real estate investment trusts (REITs) and infrastructure investment trusts (InvITs). Allotment to any investor is required to be made in the multiples of a lot.

Sale of stake in PSU banks postponed to next financial year: Report

The sale of government stake in public sector undertaking (PSU) banks has been postponed to next financial year, a report citing sources said on August 2. The disinvestment programme has been deferred as the Centre would require more time to seek the Parliament's nod on changes in the law that would clear the privatisation of the selected state-run banks, Bloomberg reported.

An official who spoke with the publication said the Finance Ministry has not finalised the modalities of the law which needs the assent of lawmakers. This leaves the government with an acute shortage of time to complete the privatisation process this year, the anonymous source was reported as saying.

Adani Wilmar files for big-bang Rs 4,500 crore IPO

FMCG company Adani Wilmar, which makes popular edible oil brand ‘Fortune’ and was set up in 1999 as a joint venture between Gautam Adani led Adani group and Singapore based Wilmar, has filed its draft red herring prospectus (DRHP) with market regulator Sebi for a big-bang IPO, multiple industry sources with knowledge of the matter told Moneycontrol.

“It’s entirely a primary issuance of shares and the size of the IPO is around Rs 4,500 crores,” said one of the individuals cited above. Two other individuals confirmed the same.

Also read: Beauty startup Nykaa files papers with Sebi to raise around Rs 4,000 crore via IPO

Results on August 3

Bharti Airtel, Adani Enterprises, Adani Ports and Special Economic Zone, Bajaj Healthcare, Bank of India, Barbeque-Nation Hospitality, CARE Ratings, Dabur India, Dhampur Sugar Mills, Prataap Snacks, ELGI Equipments, Everest Industries, Godrej Properties, IIFL Wealth Management, Inox Leisure, Indian Overseas Bank, Kajaria Ceramics, Kalpataru Power Transmission, Munjal Showa, Neuland Laboratories, NOCIL, Shipping Corporation of India, Simplex Realty, Tata Consumer Products, Transport Corporation of India, and TRF will release their quarterly earnings on August 3.

FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 1,539.88 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 1,505.82 crore in the Indian equity market on August 2, as per provisional data available on the NSE.

Stocks under F&O ban on NSE

One stock - Sun TV Network - is under the F&O ban for August 3. 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
Sandip Das
first published: Aug 3, 2021 07:49 am

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