5 things to know before the opening bell as Sensex, Nifty stare at a negative opening

By: |
September 7, 2020 8:17 AM

Domestic benchmark indices could start Monday’s trading session with losses, as SGX Nifty trades over 30 points lower during the early hours of trade.

Federal Reserve, U.S. central bank, Wall Street, interest rates, economyMonday morning saw Shanghai Composite, Hang Seng, TOPIX, Nikkei 225, and Kospi trade with gains.

Domestic benchmark indices could start Monday’s trading session with losses, as SGX Nifty trades over 30 points lower during the early hours of trade. S&P BSE Sensex and NSE Nifty 50 enter this week’s trading after erasing almost all gains made since August 21, last week. The sell-off was in line with global peers that saw a sudden slip after weeks of gains. Analysts say that traders could be cautious this week about the rising number of coronavirus cases in India. Banking and finance companies will also remain in focus with issues around interest collection during the moratorium period being argued in the Supreme Court.

Global watch: On Friday, NASDAQ slipped 1.27%, along with other major US indices. Monday morning saw Shanghai Composite, Hang Seng, TOPIX, Nikkei 225, and Kospi trade with gains. However, Nifty futures on Singapore Exchange were trading lower. 

FII and DII trades: Foreign Institutional Investors or (FII) pulled out Rs 1,888 crore from domestic stocks on Friday as the equity markets slipped. Domestic Institutional Investors (DII) were also seen pulling away, as they took out Rs 456 crore. In August international investors put in $6 billion into domestic shares.

Trade watch: Looking at insider trades; Gautam S. Adani & Rajesh S. Adani [on behalf of S. B. Adani Family Trust] revoked 3 lakh shares of Adani Ports and SEZ, and also 64 lakh shares of Adani Enterprises. Additionally, Shriram Financial Ventures (Chennai) Pvt Ltd (Revised) and Shriram Financial Ventures (Chennai) Pvt Limited acquired shares of Shriram City Union Finance. In a bulk deal, Tata Sons bought 53 lakh shares of Tata Motors – DVR Ordinary.

Happiest Minds IPO opens: The Initial Public Offering of Happiest Minds Technologies will open for subscription today. The IT services and consulting firm has already raised Rs 316 crore from anchor investors. The offer comprises a fresh issuance of shares aggregating up to Rs 110 crore and an offer for sale of up to 3.56 crore equity shares.

Vodafone-Idea prepares for announcement: Struggling telecom major Vodafone Idea has informed investors that it will be making a strategic announcement today. The telecom operator has been hunting options for fundraising as the Supreme Court earlier gave telcos 10 years to pay their AGR dues.

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