Top 10 things to know before the market opens

The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a positive opening for the index in India with a 18 points gain.

The BSE Sensex rallied 546.41 points or 1.02 percent to close at 54,369.77, while the Nifty50 rose 128 points to 16,258.80 and formed bullish candle on the daily charts.

According to pivot charts, the key support levels for the Nifty are placed at 16,193.27, followed by 16,127.73. If the index moves up, the key resistance levels to watch out for are 16,307.27 and 16,355.73.

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

U.S. stocks closed mostly lower on Wednesday, with the S&P 500 falling from a record high after data signaled a slowdown in jobs growth in July, and General Motors tracked its worst day since early March.

The Dow Jones Industrial Average fell 323.73 points, or 0.92%, to 34,792.67, the S&P 500 lost 20.49 points, or 0.46%, to 4,402.66 and the Nasdaq Composite added 19.24 points, or 0.13%, to 14,780.53.

Asian Markets

Shares in Asia-Pacific were mixed in Thursday morning trade, following declines overnight on Wall Street. Japan’s Nikkei 225 gained 0.31% in morning trade while the Topix index advanced 0.25%. South Korea’s Kospi stood little changed.

SGX Nifty

Trends on SGX Nifty indicate a positive opening for the index in India with a 18 points gain. The Nifty futures were trading at 16,278 on the Singaporean Exchange around 07:30 hours IST.

Oil falls

Oil prices fell for a third day in a row to a two-week low on Wednesday on a surprise build in U.S. crude stockpiles, negative U.S. economic report and worries the spread of the coronavirus Delta variant will weigh on global energy demand.

Brent futures fell $2.03, or 2.8%, to settle at $70.38 a barrel, while U.S. West Texas Intermediate (WTI) crude fell $2.41, or 3.4%, to settle at $68.15.

Maintain current A/Cs in 'appropriate number' of banks: Sebi to mutual funds

Markets regulator Sebi on Wednesday asked mutual funds to maintain current accounts in an appropriate number of banks for receiving subscription amount and payment of redemption and dividend. The move is aimed at facilitating financial inclusion, convenience of investors and ease of doing business, the Securities and Exchange Board of India (Sebi) said in a circular.

"Based on the request of mutual fund industry, it is clarified that mutual funds should maintain current accounts in an appropriate number of banks for the purpose of receiving subscription amount and for payment of redemption/dividend/brokerage/ commission etc," Sebi said.

US services sector index races to record high in July -ISM survey

A measure of US services industry activity jumped to a record high in July, boosted by the shift in spending to services from goods, but businesses continued to face rising prices because of supply chain constraints.

The Institute for Supply Management said on Wednesday its non-manufacturing activity index raced to 64.1 last month, the highest reading in the series’ history, from 60.1 in June.

Results on August 5

GAIL India, Cipla, Adani Power, Aditya Birla Capital, Indiabulls Housing Finance, Accelya Solutions India, Ador Welding, Andhra Petrochemicals, Arvind, Bajaj Consumer Care, Birla Corporation, Brigade Enterprises, Cera Sanitaryware, Edelweiss Financial Services, Escorts, Gujarat Gas, Hikal, Honeywell Automation India, Ipca Laboratories, Jubilant Industries, NCC, Narayana Hrudayalaya, PTC India Financial Services, Prince Pipes and Fittings, Quess Corp, REC, Thermax, and TTK Healthcare.

Yields rise off lows after Fed's Clarida backs rate expectations

US Treasury yields bounced higher on Wednesday after a top U.S. Federal Reserve official backedexpectations for higher interest rates, shifting traders' focus away from a disappointing payroll report.

The benchmark 10-year yield was up 3.3 basis points at 1.207% in late-morning trading. It previously touched 1.127%, its lowest since February. Yields rose as Fed Vice Chair Richard Clarida spoke at an online economic event. Clarida said he could envision a taper in bond purchases later this year, and that the U.S. economy is on track to meet hurdles the central bank has set for raising interest rates.

FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 2,828.57 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 411.36 crore in the Indian equity market on August 4, as per provisional data available on the NSE.

Stocks under F&O ban on NSE

Three stock - Canara Bank, Indiabulls Housing Finance and Sun TV Network - is under the F&O ban for August 2. 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