Indian market created history on Tuesday as Nifty50 surpassed 16,000-16,100 levels, and trend for SGX Nifty suggests that the momentum will continue on Wednesday as well.
The S&P BSE Sensex rallied more than 800 points pushing the index closer towards 54,000. The index hit a record high of 53,887 on Tuesday.
According to Pivot levels, the immediate resistance for Nifty is placed at 16,213 followed by 16,296 while supports are placed at 15,981 and 15,831 levels.
Stay tuned to Moneycontrol to find out what happens in the 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&P 500 index closed at record high on Tuesday on gains in Apple and healthcare stocks, despite concerns over a surge in the Delta variant of the coronavirus taking some shine off an upbeat corporate earnings season.
The Dow Jones Industrial Average rose 278.24 points, or 0.8%, to 35,116.4, the S&P 500 gained 35.99 points, or 0.82%, to 4,423.15 and the Nasdaq Composite added 80.23 points, or 0.55%, to 14,761.30.
Asian Markets:
Asian shares advanced to one-week highs on Wednesday, led largely by strong U.S. corporate earnings, although the mood remained cautious as the rapidly spreading Delta variant of the coronavirus clouds the global economic outlook.
SGX Nifty:
Trends on SGX Nifty indicate a flat to positive opening for the index in India with a 48 points gain. The Nifty futures were trading at 16,213 on the Singaporean Exchange around 07:30 hours IST.
CBDT extends due dates for electronic filing of various Income Tax forms
The Central Board of Direct Taxes (CBDT) issued a circular on August 3 announcing the extension of the deadline for filing certain forms under the Income-Tax Act, 1961.
4 IPOs will open for subscription
Four initial public offerings worth more than Rs 3,600 crore open for subscription on August 4 and close on August 6 – Devyani International, Windlas Biotech, Exxaro Tiles and Krsnaa Diagnostics.
Experts recommend investing in Krsnaa Diagnostics and Devyani International shares because both could make listing gains and are also good long-term bets.
E-vehicles exempted from registration certificate fees: Transport Ministry
The Ministry of Road Transport and Highways on Tuesday said it has issued a notification to exempt battery operated vehicles from the payment of fees for issue or renewal of registration certificate.
Sebi allows payments banks to act as investment bankers
To provide easy access to investors to participate in public and rights issues by using various payment avenues, markets regulator Sebi on Tuesday allowed payments banks to carry out the activities of investment bankers.
Indian carmakers seek extra year to meet fuel efficiency rules
Indian automakers are seeking an extra year to meet tighter rules on fuel efficiency, aimed at reducing carbon emissions, as the companies reel from the financial impact of COVID-19, sources told Reuters.
FII & DII Activity:
Foreign institutional investors (FIIs) net bought shares worth Rs 2,116 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 298 crore in the Indian equity market on August 3, as per provisional data available on the NSE.
June Quarter Results:
Adani Green, Apollo Tyre, HPCL, State Bank of India, Tata Communications, Titan Company, Bosch, and Godrej Consumer Products.
(With inputs from Reuters & Agencies)