a man sitting at a desk with a computer: What changed for the market while you were sleeping? Top 10 things to know

© Rakesh Patil
What changed for the market while you were sleeping? Top 10 things to know

The Indian stock market is expected to open in the green led by Nasdaq hitting record high. Trends on SGX Nifty indicate a positive opening for the index in India with a 80 points gain.

Sensex dropped 394.40 points or 1.02 percent to close at 38,220.39 on August 20 while the Nifty50 declined 96.20 points to 11,312.20. According to pivot charts, the key support level for the Nifty is placed at 11,280.83, followed by 11,249.47. If the index moves up, the key resistance levels to watch out for are 11,352.53 and 11,392.87.

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

Nasdaq ended at a record high on Thursday, with the S&P 500 and Dow also rising, as gains in heavyweight tech stocks outweighed downbeat data that affirmed the Federal Reserve’s view of a difficult road to economic recovery.

The Dow Jones Industrial Average ended up 46.85 points, or 0.17{d93457022679712214ff8a8035fa266341f9634f2c93d5e609b1bbb089e8c446}, to 27,739.73, the S&P 500 gained 10.66 points, or 0.32{d93457022679712214ff8a8035fa266341f9634f2c93d5e609b1bbb089e8c446}, to 3,385.51 and the Nasdaq Composite added 118.49 points, or 1.06{d93457022679712214ff8a8035fa266341f9634f2c93d5e609b1bbb089e8c446}, to 11,264.95.

Asian Markets

Asian equities were poised to rise on Friday after a tech-driven rally on Wall Street in which the Nasdaq hit a record high despite downbeat data that affirmed the Fed’s dour outlook on U.S. economic recovery.

Australian S&P/ASX 200 futures rose 0.17{d93457022679712214ff8a8035fa266341f9634f2c93d5e609b1bbb089e8c446}, Japan’s Nikkei 225 futures added 0.13{d93457022679712214ff8a8035fa266341f9634f2c93d5e609b1bbb089e8c446}, while Hong Kong’s Hang Seng index futures rose 0.71{d93457022679712214ff8a8035fa266341f9634f2c93d5e609b1bbb089e8c446}.

SGX Nifty

Trends on SGX Nifty indicate a positive opening for the index in India with a 80 points gain. The Nifty futures were trading at 11,379 on the Singaporean Exchange around 07:30 hours IST.

Oil climbs for third straight week

Oil prices rose in early trade on Friday, on track for a third straight week of gains, buoyed by major oil producers’ efforts to hold back output amid concerns about the economic recovery from the coronavirus pandemic.

U.S. West Texas Intermediate (WTI) crude futures inched up 8 cents, or 0.2{d93457022679712214ff8a8035fa266341f9634f2c93d5e609b1bbb089e8c446}, to $42.90 at 0158 GMT, on course for a 2{d93457022679712214ff8a8035fa266341f9634f2c93d5e609b1bbb089e8c446} rise for the week. Brent crude futures rose 16 cents, or 0.4{d93457022679712214ff8a8035fa266341f9634f2c93d5e609b1bbb089e8c446}, to $44.07, heading for a weekly rise around 0.5{d93457022679712214ff8a8035fa266341f9634f2c93d5e609b1bbb089e8c446}.

US, China differ over plans for Phase 1 trade deal talks

The Trump administration on Thursday declined to acknowledge any plans to meet with China over the Phase 1 trade deal after the commerce ministry in Beijing said bilateral talks would be held “in the coming days” to evaluate the agreement’s progress. Commerce Ministry spokesman Gao Feng made the comments about the forthcoming discussions at a weekly briefing held online, but did not elaborate.

EPFO records 6.55 lakh net new enrolments in June

Net new enrolments with retirement fund body EPFO rose to 6.55 lakh in June from 1.72 lakh during May 2020, according to its latest payroll data, providing a perspective on employment in the formal sector amid the COVID-19 crisis.

Provisional payroll data released by the EPFO last month had shown that net new enrolments stood at 3.18 lakh in May this year. The figure has now been revised to 1,72,174. The net new enrolments with the Employees’ Provident Fund Organisation (EPFO) had dropped to 5.72 lakh in March 2020 from 10.21 lakh in February, as per the payroll data released in May.

US jobless claims jump back above 1 million in face of coronavirus

The number of laid-off workers seeking U.S. unemployment benefits rose to 1.1 million last week after two weeks of declines, evidence that many employers are still slashing jobs as the coronavirus bedevils the U.S. economy.

The latest figures, released Thursday by the Labor Department, suggest that more than five months after the viral outbreak erupted the economy is still weak, despite recent gains as some businesses reopen and some sectors like housing and manufacturing have rebounded. Jobless claims had fallen last week below 1 million for the first time since March, to 971,000. A rising number of people who have lost jobs say they consider their loss to be permanent.

Japan’s consumer prices mired as deflation spectre looms

Japan’s core consumer prices were stubbornly unchanged in July, dashing hopes for a modest rise as the coronavirus pandemic hit household demand and revived fears of a national plunge back into deflation.

A slow economic recovery from last quarter’s record slump is expected to weigh on prices as consumer demand collapsed amid resurgent infections, which will in turn hit profits, jobs and business investment, analysts say.

Results on August 21

Punjab National Bank, Union Bank of India, Oil India, Indiabulls Housing Finance, Coffee Day Enterprises, Automotive Stampings, Genus Paper & Boards, Harrisons Malayalam, Kolte-Patil Developers, Rossari Biotech, SMS Lifesciences, Suprajit Engineering, Venus Remedies, etc. will announce their quarterly earnings on August 21.

FII and DII data

Foreign institutional investors (FIIs) offloaded shares worth Rs 268.46 crore and domestic institutional investors (DIIs) sold shares worth Rs 672.23 crore in the Indian equity market on August 20, as per provisional data available on the NSE.

14 stocks under F&O ban on NSE

Adani Enterprises, Aurobindo Pharma, Bank of Baroda, Canara Bank, Century Textiles, Indiabulls Housing Finance, Vodafone Idea, Jindal Steel & Power, Manappuram Finance, Muthoot Finance, NALCO, RBL Bank, Sun TV Network and Vedanta are under the F&O ban for August 21.

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