India-China tensions, SC's hearing on loan moratorium extension, corporate earning, stock-specific action, oil prices and rupee trajectory will continue to sway investor sentiment
Domestic equity markets benchmarks BSE Sensex and Nifty 50 are likely to see a muted opening on Thursday, after gaining for the two straight days. Market participants will watch Finance Minister Nirmala Sitharaman’s review meeting with heads of banks and NBFCs and Services PMI data for August scheduled for today. Besides, Prime Minister Narendra Modi will address the US-India Strategic Partnership Forum. Meanwhile, India-China tensions, SC’s hearing on loan moratorium extension, corporate earning, stock-specific action, oil prices and rupee trajectory will continue to sway investor sentiment. “The market may look forward for more positive signs of economic recovery and would track the development around the US stimulus announcement. Investors will also keep a close watch on India-China border tensions and global markets for cues,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.
SGX Nifty points at tepid start: Trends on SGX Nifty suggested a muted start for the Indian share market. Nifty futures were trading 22 points or 0.19 per cent higher at 11,586.50 on Singaporean Exchange.
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FM Sitharaman to meet heads of banks, NBFCs: Finance minister Nirmala Sitharaman in a review meeting with heads of banks and NBFCs today will focus on the implementation of a one-time loan restructuring programme proposed by the Reserve Bank of India (RBI) and review the progress of a Rs 3-lakh-crore credit guarantee scheme for small and medium businesses.
PM Modi to address US-India forum: Today Prime Minister Narendra Modi will address USISPF’s 3rd annual leadership summit at 9 pm through a video conference. The theme covers various subjects such as India’s potential in becoming a global manufacturing hub, opportunities in India’s gas market, ease of doing business to attract FDI in India, etc, said the Prime Minister’s Office.
Results today: A total of 47 companies including Page Industries, Jubilant Industries, Bilcare, Essar Shipping, IL&FS Engineering, MSTC, Panacea Biotec and Zuari Agro Chemicals, will announce their June quarter earnings today.
Global market: Asian stock markets were trading higher in early trade on Thursday. South Korea’s Kospi jumped 1.38%. In Japan, the Nikkei 225 rose 1.23%. In overnight trade, US’ major equity indices moved higher. The Dow Jones Industrial Average jumped 1.6%, the S&P 500 gained 1.5%, while the Nasdaq Composite was higher by 1% at 12,056.44.