Trends on SGX Nifty indicate a flat opening for the index in India with a 4 points gain. The Nifty futures were trading at 11,512 on the Singaporean Exchange around 07:30 hours IST.
Trends on SGX Nifty indicate a flat opening for the index in India with a 4 points gain. The Nifty futures were trading at 11,512 on the Singaporean Exchange around 07:30 hours IST.
The BSE Sensex climbed 272.51 points to 38,900.80 on September 1 while the Nifty50 rose 82.80 points to 11,470.30.
According to pivot charts, the key support level for the Nifty is placed at 11,373.57, followed by 11,276.93. If the index moves up, the key resistance levels to watch out for are 11,560.17 and 11,650.13.
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:
The S&P500 and the Nasdaq hit new highs on Tuesday with techniology leading the charge as Apple, Zoom Video soared, and on the macro front, better-than-expected data on US manufacturing sector data gave optimism about economic recovery.
The Dow Jones Industrial Average was up 215 points, at 28,645, the S&P 500 gained 26 points, or 0.75%, to 3,526 and the Nasdaq Composite added 164 points, or 1.3%, to 11,939.
Asian Markets
Asian shares were trading mostly higher encouraged by buoyant U.S. moves that followed stronger-than-expected manufacturing indicators while the dollar emerged from its recent lows against the euro.
Investors in Asia await Australia's gross domestic product data, which is expected to confirm the economy fell into its deepest slump since the Great Depression.SGX Nifty
Trends on SGX Nifty indicate a flat opening for the index in India with a 4 points gain. The Nifty futures were trading at 11,512 on the Singaporean Exchange around 07:30 hours IST.
August GST collection stands at Rs 86,449 crore
Goods and Services tax (GST) collection for the month of August stood at Rs 86,449 crore, slightly less than Rs 87,422 crore collected in July, and down 12 percent from last year, the government said on September 1.
USTR extends some China tariff exclusions, but only through end-2020
The US Trade Representative's office said on September 1 it has extended China tariff exclusions for a wide range of goods, including smart watches and certain medical masks, through the end of 2020, rather than renewing the previous one-year extension.
In a Federal Register notice, USTR said the extensions were applied to products excluded from its 7.5 percent "Section 301" tariffs imposed a year ago on some $300 billion worth of Chinese goods a year ago amid tense trade talks between the world's two largest economies.
The products included a number of Bluetooth and wearable data-transmitting devices, such as those imported from China by Apple Inc, FitBit, Sonos and other technology companies.
Mutual funds: Sebi revises disclosure requirements for debt, money market securities transactions
To further enhance transparency, markets regulator Sebi on September 1 revised disclosure requirements pertaining to debt and money market securities transactions for mutual funds. The new framework will come into effect from October 1, the Securities and Exchange Board of India (Sebi) said in circular.
Under the new disclosure format, fund houses need to mention about name of the security, type of security, most conservative rating of security at the time of transaction, if applicable, name of the rating agency and transaction type.
India among large emerging market sovereigns to have highest debt burden by 2021: Moody's
Moody's Investors Service on Tuesday said India will be among the large emerging market sovereigns to have highest debt burden by 2021. The coronavirus pandemic-induced deterioration in growth and fiscal dynamics will leave most large emerging market sovereigns with higher debt burdens over the next few years, it said.
We expect government debt in the large emerging market sovereigns to rise by almost 10 percentage points of GDP on average by the end of 2021 from 2019 levels, driven primarily by wider primary deficits, although some are likely to see higher interest payments contributing to higher debt, Moody's said. "Debt burdens in Brazil, India and South Africa will rise to among the highest across the large emerging market sovereigns by 2021," Moody's said.
Earnings on September 2
Coal India, Arvind Fashions, Bannari Amman Sugars, Dish TV India, Infibeam Avenues, Jubilant FoodWorks, Kernex Microsystems, Navkar Corporation, Sadbhav Engineering, Sandur Manganese, Satin Creditcare Network etc will announce their June quarter earnings on September 1.
FII and DII data
Foreign institutional investors (FIIs) net bought shares worth Rs 486.09 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 775.23 crore in the Indian equity market on September 1, as per provisional data available on the NSE.
2 stocks under F&O ban on NSE
Indiabulls Housing Finance and Vodafone Idea are under the F&O ban for September 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