The Indian stock market will open on a depressing note following global forecasts weaker than China’s economic data. Trends on the SGX Nifty indicate a negative start for the index in India with a loss of 19 points.
The Sensex was down 59 points or 0.15 percent at 38,310.49 on August 13 and the Nifty was down 11 points at 11,300.45, or 8 points or 0.07 percent. According to the pivot charts, the key support level for the Nifty is at 11,260.57, followed by 11,220.63. If the index moves up, the key resistance levels to watch are 11,349.87 and 11,399.23.
Stay with Stockivestor to find out what is happening in the currency and equity markets today. We have compiled a list of important headlines on news platforms affecting Indian and international markets:
The S&P 500 closed slightly lower after a record second day trading on Thursday, and the Dow also fell in the wake of a disappointing forecast from Cisco Systems Inc.
The Dow Jones Industrial Average fell 80.12 points, or 0.29 percent, to 27,896.72, while the S&P 500 lost 6.9 points, or 0.20 percent, to 3,373.45, and the Nasdaq Composite gained 29.27 points, or 0.27 percent, to 11,041.51.
Asian stocks opened higher on Friday as markets took a break on Wall Street’s multi-month stock rebound and are looking forward to the release of China’s financial data in the next session.
Australia’s S&P / ASX200 futures were down 0.05 percent, while Japan’s Nikkei 225 futures were up 0.06 percent and the Nikkei 225 index was up 1.78 percent at 23,249.61 on Thursday. Hong Kong’s Hong Seng Index fell 0.13 percent.
Trends on the SGX Nifty indicate a negative start for the index in India with a loss of 19 points. Nifty Futures traded at 11,315 on the Singapore Exchange at 07:30 IST.
Oil prices are rising amid cautious hopes for energy demand recovery
Oil prices soared on Friday and gains in the second week came amid growing confidence that demand for fuel is rising despite the coronavirus pandemic that has hit economies around the world.
Brent crude rose 14 cents, or 0.3 percent, to $ 45.10 at 0043 GMT, up 1.6 percent this week. West Texas Intermediate rose 12 cents, or 0.3 percent, to $ 42.36. The US benchmark is up nearly 3% this week.
India’s retail inflation stood at 6.93% in July
Retail inflation in India was 6.93 percent in July, up from 6.23 percent in the previous month, according to data released by the National Statistical Office (NSO) on August 13. The Consumer Price Index (CPI) -based inflation rate has been revised to 6.23 percent from 6.09 percent.
US food inflation (CFPI) was 9.62 percent in July, up from 8.72 percent a month ago. Inflation in the vegetable basket was 11.29 percent in July and 1.86 percent in June. In the energy and light sector, inflation for the same month was 2.80 percent, compared to 2.69 percent in June.
US weekly jobless claims fall below 1 million, but labor market recovery faltering
The number of Americans seeking unemployment benefits for the first time since the start of the COVID-19 pandemic in the United States dropped to less than one million last week, with some discouraged from filing claims as the weekly 600-week unemployment supplement expires.
Initial claims for state unemployment benefits were 963,000 adjusted for the week ended Aug. 8, compared to 1.191 million in the previous week, according to the Department of Labor on Aug. 13. These are unnecessary businesses to slow down the spread of coronavirus to a minimum since authorities began closing in March. Economists polled by Reuters estimated 1.12 million applications in the latest week.
SC approval for registration of BS-IV vehicles sold before lockdown: Report
The apex court on August 13 allowed the registration of BS-IV compliant vehicles sold before the lockdown on March 13. However, the court ruled that registration of such vehicles sold after the lockdown came into effect nationwide from March 25 should not be allowed. Also, the Supreme Court barred the registration of vehicles that did not upload details on the government vehicle portal.
According to the government notification, all vehicle manufacturers are required to switch from BS-IV to BS-VI emission regulations by March 31, 2020. The notification indicated that the sale and registration of BS-IV vehicles beyond this deadline will not be permitted.
PE funds clock highest buyout deals in 11 months in July 2020: IVCA-EY Report
Private equity (PE) funds are unleashing their purse strings. And moving forward for opportunistic acquisition in sectors in the current challenging climate triggered by the COVID-19 epidemic. During the lockdown period in India, these players were seen edging their strategic counterparts. And closing many majority shares deals with quality targets available at attractive values.
According to the IVCA-EY Monthly Roundup on Private Equity / Venture Capital (PE / VC) Investments, July 2020 recorded the highest value and number of purchase deals in the last 11 months. The total investment in 77 deals this month was $ 4.1 billion. However, this represents a 51 percent decline compared to July 2019, which saw 4 8.4 billion worth of contracts, indicating that the total contract activity of PE funds and VCs were much lower than previous peaks.
Sebi rejects MCX, NCDEX demand for cross margin facility on commodity indices
The Securities and Exchange Board of India (SEBI) has rejected the demand of the Multi Commodity Exchange (MCX) and the National Commodity Derivative Exchange (NCDX) for the cross-margin facility on commodity indices. This facility allows traders to keep their positions on the same margin when taking opposite positions on the indicators.
Results on August 14th
Hindalco Industries, NTPC, Glenmark Pharmaceuticals, Berger Paints, Bodal Chemicals, Borosil, Clariant Chemicals, Dilip Buildcon, Dollar Industries, Emkay Global, Finolex Cables, Fortis Healthcare, Greenply Industries, HG Infra Engineering, IIFL Wealth Management, Indian Bank, MRF, Nagarjuna Fertilizers, New India Assurance Company, Ramco Cements, Sun TV Network, United Breweries, Varroc Engineering, Voltas, VRL Logistics, Zuari Global, etc.
FII and DII data
Foreign institutional investors (FIIs) bought shares worth Rs 416.28 crore, while domestic institutional investors (DIIs) traded higher at Rs. 763.54 crores worth of shares were purchased on provisional information available on NSE.
12 stocks under F&O ban on NSE
Ashok Leyland, Aurobindo Pharma, Bata India, Bharat Heavy Electricals (BHEL), Canara Bank, Century Textiles, Glenmark Pharmaceuticals, Indiabulls Housing Finance, Vodafone Idea, Muthoot Finance, Steel Authority of India and Vedanta – are under the F&O ban for August 14. 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.