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Live: Nifty flashing red for today? SBI, M&M in focus | Zomato Delivers Profit | Concord Biotech IPO

Indian equity markets saw a selloff for yet another session with the Nifty50 ending below the 19,400 mark on August 3 tracking global weakness. This morning the cues are pretty mixed with Wall Street ending lower and oil back near the $85 mark. Among key corporate earnings on Wall Street, Amazon beat estimates while Apple lost around 2% after the bell as revenue came in lower than it did in the same quarter a year ago. Investors will be watching out for the crucial jobs report due later today. This morning Asia is mixed whhile GIFT Nifty is hinting at a muted start for the Indian markets. On the Nifty, the immediate resistance is around 19,400-19,600 area, but breaking of the said level can break the 50-day EMA (exponential moving average) placed at 19,160. Big day for earnings as SBI, M&M and Britannia hand in their Q1 report card today. Also we take stock of Airtel, Eicher and Zomato Q1 earnings. Catch Nandita Khemka in conversation with Mahantesh Sabarad, Independent Market Analyst and Raja Venkatraman,Co-founder, Neotrader and Trading Influencer.

first published: Aug 4, 2023 08:59 am