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Last Updated : Aug 05, 2020 07:40 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 flat opening for the index in India with a 5 points gain.

The Indian stock market is expected to open flat as Asian markets edged lower. Trends on SGX Nifty indicate a flat opening for the index in India with a 5 points gain.

The Sensex settled with a gain of 748 points, or 2.03 percent, at 37,687.91 on August 4 and the Nifty ended at 11,095.25, up 204 points, or 1.87 percent.

According to pivot charts, the key support level for the Nifty is placed at 10,964.8, followed by 10,834.4.13. If the index moves up, the key resistance levels to watch out for are 11,168.9 and 11,242.6.

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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

Wall Street ended higher after a choppy session on Tuesday, lifted by Apple and energy stocks but limited by declines in AIG and Microsoft while investors awaited more U.S. government stimulus to fight economic fallout from the COVID-19 pandemic.

The Dow Jones Industrial Average rose 0.62% to end at 26,828.47 points, while the S&P 500 gained 0.36% to 3,306.51. The Nasdaq Composite climbed 0.35% to 10,941.17.

Asian Markets

Asia shares were set to open lower on Wednesday, following a choppy trading session on Wall Street and losses in Europe.

Hong Kong futures edged down 0.07%. Australian shares were also poised to open lower as COVID-19 rose in the country. Nikkei futures were trading 0.3% below the Nikkei 225 index's previous close.

SGX Nifty

Trends on SGX Nifty indicate a flat opening for the index in India with a 5 points gain. The Nifty futures were trading at 11,077 on the Singaporean Exchange around 07:30 hours IST.

China's services sector expands at slower pace in July: Caixin PMI

Growth in China’s services sector slowed in July from a decade high the previous month, as new export business fell and job losses continued, an industry survey showed on Wednesday, pointing to cracks in the sector’s post-COVID recovery.

The Caixin/Markit services Purchasing Managers’ Index (PMI) fell to 54.1 from June’s 58.4, which was the highest reading since April 2010. The 50-mark separates growth from contraction on a monthly basis.

Oil edges up to highest since March

Brent oil futures on Tuesday closed at their highest since early March on hopes the United States is making progress on a new economic stimulus package, as well as curbing the coronavirus spread.

Brent rose 28 cents, or 0.6%, to settle at $44.43 a barrel, its highest close since March 6. U.S. West Texas Intermediate (WTI) crude rose 69 cents, or 1.7%, to $41.70, its highest finish since July 21.

China, U.S. to review trade deal, air other grievances on August 15: Sources

Senior U.S. and Chinese officials will review the implementation of their Phase 1 trade deal and likely air mutual grievances in an increasingly tense relationship during an Aug. 15 videoconference, two people familiar with the plans said.

U.S. Trade Representative Robert Lighthizer and Chinese Vice Premier Liu He, the principal negotiators for the two countries, will participate in the meeting, an initial six-month review of the pact activated on Feb. 15.

Securitisation volumes estimated to dip to Rs 1.2-1.3 lakh crore in FY21: ICRA

The securitisation volumes are estimated to significantly drop to Rs 1.2-1.3 lakh crore during the current fiscal due to the impact of COVID-19 and lower availability of eligible loan pools for securitisation, says a report. The securitisation volumes in 2019-20 were around Rs 1.97 lakh crore.

“We estimate that the annual securitisation volumes should remain significantly lower in FY21 than the preceding fiscal at about Rs 1.2-1.3 lakh crore given the impact of the pandemic and the lower availability of eligible pools for securitisation,” ICRA's vice president and head (structured finance ratings) Abhishek Dafria said in a report.

SEBI decentralises portfolio managers registration work

Markets regulator SEBI on Tuesday said it has decided to decentralise work related to registration of portfolio managers. It has been decided that the processing of registration applications for portfolio managers received on or after Wednesday (August 5) will be decentralised and delegated to the respective regional offices or head office in Mumbai, based on the registered address of the applicant, SEBI said in a statement.

It added that applicants should now file all communications related to their registration applications for portfolio managers with the respective regional office of SEBI.

India to set up single-window Investment Clearance Cell to facilitate faster approvals: Report

Manufacturers looking to set up industrial projects in India have reportedly raised concerns regarding long approval wait times and multiple clearance requirements with officials from the Department of Promotion of Industry and Internal Trade (DPIIT).

In discussions with DPIIT officials, companies proposed a single-window system for investments and emphasised its need to attract more investments in to the country, sources told The Economic Times. Moneycontrol could not independently verify the report.

Results on August 5

Cadila Healthcare, DLF, Canara Bank, Adani Gas, Apollo Tyres, Asahi India Glass, Birlasoft, Cera Sanitaryware, Dwarikesh Sugar Industries, EID Parry (India), Godrej Properties, Gravita India, Inox Leisure, Intellect Design Arena, JK Lakshmi Cement, Jaiprakash Associates, Jyothy Labs, Kokuyo Camlin, PNB Gilts, PSP Projects, Rane Brake Lining, R Systems International, Shakti Pumps, Strides Pharma Science, Triveni Turbine, VIP Industries, etc.

FII and DII data

Foreign institutional investors (FIIs) bought shares worth Rs 703.74 crore while domestic institutional investors (DIIs) sold shares worth Rs 665.69 crore in the Indian equity market on August 4, as per provisional data available on the NSE.​

With inputs from Reuters & other agencies
First Published on Aug 5, 2020 07:40 am
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