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Today’s Nifty: SGX Nifty down 25 points; Here’s what the market changed while you slept

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Local stocks are likely to begin flat on Tuesday amid a lack of signals from global markets. US stocks settled mostly lower in a choppy overnight session while their Asian counterparts gave up beforetime gains on Tuesday morning. Investors are eagerly awaiting the opening of two IPOs – Chemplast Sanmar and Aptus Value Housing Finance – today. Below is a breakdown of the pre-market procedures:

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Market condition

SGX Nifty indicates silent startNifty futures on the Singapore Stock Exchange were trading 25 points, or 0.15 percent, down at 16,247, indicating that Dalal Street was heading for a silent start on Tuesday.

  • Tech View: On Monday Nifty50 formed an indecisive Doji-like candle on the daily chart, indicating indecisiveness in the market. Analysts advise buying on dips.
  • India VIX: The fear gauge slipped slightly to 12.60 on Monday, overhead its close of 12.61 on Friday.

Asian stocks were mixed in beforetime tradingAsian stocks opened higher but traded mixed on Tuesday with mixed signals globally. Stocks in Japan opened higher following a one-day burst. MSCI’s broadest index of Asia Pacific shares outside Japan fell 0.28 percent.

  • Japan’s Nikkei gained 0.73%
  • Korea’s Kospi is down 0.62%.
  • Australia’s ASX 200 added 0.16%
  • Shanghai in China fell 0.19%
  • Hong Kong’s Hang Seng Index fell 0.32%

US stocks closed mostly lowerUS stocks ended a choppy day mostly lower on Wall Street on Monday, with energy companies posting some of the biggest losses as oil prices took another bearish turn. The S&P 500 fell on Monday, amid concerns about fuel demand during the pandemic.

  • The Dow Jones fell 0.30% to 35101.85
  • The S&P 500 fell 0.09% to 4,432.35
  • The Nasdaq rose 0.16% to 14860.18

The dollar is rising in beforetime tradingThe dollar was bouncing in beforetime trading on Tuesday as a streak of powerful US jobs numbers bolstered expectations that the US Federal Reserve may soon start tapering the massive coronavirus-driven stimulus.

  • The dollar index rose to 92963
  • The euro fell to 1.1732 dollars
  • The British pound fell to $1.3846
  • The yen fell to 110.38 per dollar
  • The yuan fell to 6.4845 against the dollar

Oil recovers from 3-week lowsOil prices rose on Tuesday, up from a three-week low in the previous session, but gains are likely to be limited by concerns that an increase in coronavirus cases and restrictions in China will affect fuel demand. Brent crude rose 30 cents, or 0.4 percent, to $69.34 a barrel, following falling 2.3 percent on Monday. The price of US oil rose 43 cents, or 0.7, to 66.91 dollars a barrel.

FPIs purchase shares worth Rs 212 croreNet, Foreign Portfolio Investors (FPIs) netted domestic equity buyers at Rs 211.91 crore, as suggested by data available with NSE. The data indicates that DIIs were sellers worth Rs 716.15 crore.

Today’s first quarter earningsEnergy

Zomato, Coal India, Siemens, Lupine, Jindal Steel & Power, Max Financial Services, Trent, Max Healthcare Institute, Whirlpool of India and Computer Age Management Services are among the companies that will announce quarterly earnings today.

2 IPOs starting todaySouthern specialty chemical producer Sanmar Chemplast and housing loan provider Aptus Value Housing Finance is set to reach India’s primary markets today. The previous will sell its shares in the fixed range of Rs 530-541 per lot to hoist Rs 3,850 crore while the latter will hoist Rs 2,780 crore to sell its shares in the range of Rs 346-353 per share. Both versions are begin until Wednesday.

money markets rupee: On Monday, the rupee halted its five-session acquire, and on Monday fell by 11 pounds to close at 74.26 against the US dollar, tracking the steady US currency.

10 year bonds: India’s 10-year bond produce fell 0.21 per cent to 6.22 following trading in a range of 6.21 – 6.24.

Call rates: The weighted average overnight cash call rate was 3.13 percent, according to data from the Reserve Bank of India. It moved in the range of 1.90-3.40 per cent.

Data/events to watch

  • Q1 earnings: Zomato | Indian charcoal | power grid | Mutherson Sumi
  • US Nonfarm Productivity Quarterly Before Q2 (6pm)
  • American Red Book (6:25 p.m.)
  • US Federal Treasury Purchases in New York (8 p.m.)
  • 52-week US Bond Auction (9pm)
  • US 3-Year Bond Auction (9pm)
  • UK 10-Year Treasuries Auction (3:15pm)
  • EA ZEW AUG Economic Sentiment (2:30 pm)
  • JP Eco Watchers Survey, July (10:30 a.m.)

macross SAT gives split verdict in PNBHF caseOn Monday, the Securities Appeals Court issued a split ruling on a petition by PNB Housing Finance, which challenged the market regulator’s stay on the mortgage lender’s proposal to issue preferential shares to private equity funds. Because there is a difference of opinion within the two-member bench, SAT said its interim order will remain in effect until further orders. In its June 21 interim decision, the court asked PNB Housing to proceed with its extraordinary general meeting to obtain shareholder approval for a share issue for Carlyle Group-led funds, but did not release the results of the vote.

Voda is begin to settling a retroactive tax disputeVodafone Group plans to settle the dispute over the retroactive application of the asset transfer tax, following the Indian government moved to overturn the ruling, four people close to the development told ET. This could end a decade-lengthy tax dispute between British Telecom and the Indian government. Vodafone will apply to the Indian government following announcing the framework for settling such disputes in the coming weeks, according to the people mentioned overhead.

SC will not quench the CCI probe on AmazonThe Supreme Court on Monday refused to overturn an investigation by India’s monopoly watchdog into alleged anti-competitive practices by e-commerce companies Amazon and Flipkart. On July 23, the Karnataka High Court rejected the petitions of both investigators to dismiss the investigation by the Competition Commission of India (CCI), whose Director General (DG) is investigating such complaints.

Lenders hoist interest rates on underwriting loans up to 9-10%Wealthy investors looking to borrow and invest in upcoming initial public offerings will have to pay higher costs for such loans. With the recent string of issues putting funds on grip and down payments on the final two offerings leading to losses, finance companies have increased interest rates by up to 200 basis points or 2% for IPO loans.

5 Lenders Competing for Citi India’s RetailFour major local lenders, including HDFC Bank, Kotak Mahindra Bank, and Singapore-based bank DBS, have emerged as the top five contenders to take over Citi India’s $2 billion retail business, highlighting the competitive intensity of a card-based portfolio. Credit, Mortgages, Wealth Management and Deposits. Two major banking sources tell ET that Axis Bank and IndusInd Bank are also in oppose, and the shortlist could soon be shortened to three out of five.

NFO Rush Makes July Streams in Top Stock MFsJuly mutual funds received their highest monthly inflows in 27 months as continued strength in the market encouraged retail investors to pour more money into these products. Inflows to the stock charts in July were Rs 22,583 crore, nearly four times the inflows of ₹ 5,988 crore in June and the highest since April 2019 – when the industry body changed the reporting format. New fund offerings contributed nearly half of the inflows during the month.

Referensi: economictimes.indiatimes.com

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