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 following positive global cues and as US markets showed strong gains. Trends on SGX Nifty indicate a positive opening for the index in India with a 23 points gain.

The BSE Sensex climbed 185.23 points to close at 39,086.03 on September 2 while the Nifty50 rose 64.70 points to 11,535. According to pivot charts, the key support levels for the Nifty are placed at 11,458.67, followed by 11,382.33. If the index moves up, the key resistance levels to watch out for are 11,583.07 and 11,631.13.

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

US markets rose sharply on Wednesday, continuing a strong start to September for the market as traders took profits out of high-flying names like Apple and Tesla and snapped up shares in more beaten-down parts of the market.

The Dow Jones Industrial Average jumped 454.84 points, or 1.6%, to close at 29,100.50. The S&P 500 gained 1.5% to end the day at 3,580.84 while the Nasdaq Composite was higher by 1% at 12,056.44.

Asian Markets

Asian markets gained on Thursday after the S&P 500 cruised to another record overnight stateside. In Japan, the Nikkei 225 rose 1.35% in early trade as shares of Fast Retailing jumped more than 2.5%. The Topix index also gained 0.96%. South Korea’s Kospi advanced 0.84%. The S&P/ASX 200 in Australia gained 0.88%.

SGX Nifty

Trends on SGX Nifty indicate a positive opening for the index in India with a 23 points gain. The Nifty futures were trading at 11,583 on the Singaporean Exchange around 07:30 hours IST.

Oil holds steady

Oil prices were little changed in early trade on Thursday, sitting near multi-week lows hit overnight on worries about fuel demand due to a patchy U.S. economic recovery.

U.S. West Texas Intermediate (WTI) crude futures inched up 3 cents, or 0.1%, to $41.54 a barrel at 0115 GMT, while Brent crude futures slipped 7 cents, or 0.2%, to $44.36 a barrel.

Japan's Aug service sector activity worsens as pandemic stymies recovery

Activity in Japan’s services sector contracted at a faster pace in August for the firs time in four months, as uncertainty from the coronavirus pandemic weighed on sentiment, hurting business at home and from abroad.

The final Jibun Bank Japan Services Purchasing Managers’ Index (PMI) inched down to a seasonally adjusted 45.0 in August from 45.4 in the previous month, pressured by weakening new business and business expectations.

India jumps 4 places on Global Innovation Index to enter top 50 for the first time

India remained the most innovative country in Central and Southern Asia as it moved up four positions on the annual Global Innovation Index (GII) of the World Intellectual Property Organisation (WIPO) to make it to the top-50 list for the first time.

Switzerland, Sweden, US, UK and Netherlands topped the annual ranking this year. As per the organisation, India, China, the Philippines, and Viet Nam have been the economies with the most significant progress in their GII innovation ranking over the years. All four are now in the top 50.

FM Sitharaman to meet heads of banks, NBFCs on loan recast today

Finance Minister Nirmala Sitharaman will hold a review meeting with heads of banks and NBFCs on September 3 for smooth and speedy implementation of the one-time debt recast for resolution of COVID-19 related stress in bank loans.

Besides assessing the preparedness of banks on the debt recast, sources said, the meeting will also review the progress of various schemes announced under the Rs 20.97 lakh crore Aatmanirbhar Bharat Abhiyaan.

2-wheeler sales rise in August, aided by lockdown relaxation, reluctance to use public transport

Easing of lockdown and resumption of economic activities resulted in a rise in two-wheeler sales as three of the top six manufacturers, which control 96 percent of the domestic market, reported an increase in demand. The need to avoid public and private mass transport options due to COVID-19 also contributed to the demand rise.

Nearly 1.5 million motorcycles, scooters and mopeds were sold in August 2020 -- an increase of 3 percent as compared to 1.45 million units sold in the same month last year.

Domestic airlines permitted to operate at 60% capacity with immediate effect

The aviation ministry has allowed domestic airlines to operate at 60 percent capacity, up from the earlier 45 percent, with immediate effect. "We have told the Airlines to rework their schedule accordingly," sources close to the government told Moneycontrol.

Coal India's Q1 profit plunges 55% to Rs 2,077 crore

India's largest coal mining company Coal India on September 2 reported 55.1 percent year-on-year (YoY) decline in consolidated profit at Rs 2,077.5 crore in the April-June quarter, hit by COVID-19 pandemic and lower other income. Profit in same period last year stood at Rs 4,630 crore.

Consolidated revenue from operations plunged 25.9 percent YoY to Rs 18,487 crore in the quarter ended June 2020, as offtake reduced by 21.5 percent to 120.42 million tonnes YoY.

Earnings on September 3

Page Industries, Jubilant Industries, Bilcare, Essar Shipping, IL&FS Engineering, MSTC, Panacea Biotec, Zuari Agro Chemicals, etc. will announce their June quarter earnings on September 3.

FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 990.57 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 657.48 crore in the Indian equity market on September 2, as per provisional data available on the NSE.

3 stocks under F&O ban on NSE

Escorts, Indiabulls Housing Finance and Punjab National Bank are under the F&O ban for September 3. 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.