The Indian stock market is expected to open flat as trends on SGX Nifty indicate a muted start for the index in India with a 10 points gain.
On August 9, the BSE Sensex gained 125.13 points to close at 54,402.85, while the Nifty50 rose 20.10 points to 16,258.30 and formed a bearish candle which resembles Doji kind of pattern on the daily charts as the closing was near its opening levels.
According to pivot charts, the key support levels for the Nifty are placed at 16,184.53, followed by 16,110.87. If the index moves up, the key resistance levels to watch out for are 16,326.33 and 16,394.47.
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
The S&P 500 dipped on Monday, as fuel demand worries during a resurgent pandemic sent energy stocks lower but rising U.S. Treasury yields lifted financials stocks, keeping Wall Street's benchmark index near record levels.
The Dow Jones Industrial Average fell 107.91 points, or 0.31%, to 35,100.6, the S&P 500 lost 4.11 points, or 0.09%, to 4,432.41 and the Nasdaq Composite added 24.42 points, or 0.16%, to 14,860.18.
Asian Markets
Asian stocks started off on a weak footing on Tuesday after a largely soft performance on Wall Street and as persistent concerns over the spread of the Delta variant of the coronavirus dented sentiment and triggered falls in metals and oil prices.
MSCI’s broadest index of Asia-Pacific shares outside Japan declined 0.4% in early trading, with Korea’s KOSPI index down 0.56% while China’s blue chip index CSI300 shed 0.33%.
SGX Nifty
Trends on SGX Nifty indicate a flat opening for the index in India with a 2 points gains. The Nifty futures were trading at 16,274 on the Singaporean Exchange around 07:20 hours IST.
10 new stocks in F&O from expiry of August series
Ten new stocks will make a debut in the Futures and Options (F&O) segment from the August series, National Stock Exchange (NSE) said in a regulatory filing on Monday.
The stocks are Can Fin Homes Limited, Dixon Technologies (India) Ltd, Hindustan Aeronautics Limited, Indian Energy Exchange Limited, Indiamart Intermesh Limited, Ipca Laboratories Limited, Multi Commodity Exchange of India Limited, Oracle Financial Services Software Limited, Polycab India Limited, and Syngene International Limited.
Rakesh Jhunjhunwala to pick significant strategic stake in Syska LED
Billionaire investor Rakesh Jhunjhunwala is set to pick a significant strategic stake in top lighting solutions firm Syska LED, CNBC TV 18 reported on August 9.
Jhunjhunwala, as per the report, is likely to have signed a memorandum of understanding (MoU) to pick the stake in the company.
Oil steadies after hitting three-week low on pandemic restrictions
Oil prices rose on Tuesday, edging up from a three-week low in the previous session, but gains are likely to be limited on worries that rising COVID-19 cases and restrictions in China will dent fuel demand.
Fed officials say tapering is near, advancing discussion on rate hike
Two Federal Reserve officials said on Monday that the U.S. economy is growing rapidly and that while the labor market still has room for improvement, inflation is already at a level that could satisfy one leg of a key test for the beginning of interest rate hikes.
Results on August 10
Zomato, Coal India, Lupin, Power Grid Corporation of India, Aarti Surfactants, Ahluwalia Contracts (India), Aarey Drugs & Pharmaceuticals, Ashoka Buildcon, Balaji Telefilms, Mrs Bectors Food Specialities, Brookfield India Real Estate Trust REIT, Computer Age Management Services, Capacite Infraprojects, Century Plyboards, Chalet Hotels, Cochin Shipyard, Deepak Fertilisers, Eveready Industries, Galaxy Surfactants, Godrej Agrovet, Heranba Industries, Infibeam Avenues, IRB Infrastructure Developers, Jindal Steel & Power, Krishna Institute of Medical Sciences, Linde India, Manappuram Finance, Max Financial Services, Motherson Sumi Systems, Prestige Estates Projects, Pricol, Reliance Infrastructure, Sequent Scientific, Siemens, Spencers Retail, Trent, Tata Teleservices (Maharashtra), Whirlpool of India, and Wonderla Holidays will release quarterly earnings on August 10.
FII and DII data
Foreign institutional investors (FIIs) net bought shares worth Rs 211.91 crore, while domestic institutional investors (DIIs) net offloaded shares worth Rs 716.15 crore in the Indian equity market on August 9, as per provisional data available on the NSE.
Stocks under F&O ban on NSE
Six stocks - Canara Bank, Indiabulls Housing Finance, NALCO, RBL Bank, SAIL and Sun TV Network - are under the F&O ban for August 10. 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
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