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Market Ahead, August 2: All you need to know before the Opening Bell

Fresh trade war concerns could weigh investors' sentiment today.

BS Web Team  |  New Delhi 

Fresh trade war concerns could weigh investors' sentiment today as US President Donald Trump, in a tweet last night, said that Washington would slap fresh tariffs of 10% on the remaining $300 billion worth of Chinese imports from Sept 1.

That apart, corporate results, global cues, and update on monsoon will give direction to the market today.

Globally, Wall Street fell after Trump's tweet. The Dow Jones Industrial Average lost 1.05 per cent, the S&P 500 fell 0.9 per cent and the Nasdaq Composite dropped 0.79 per cent in the overnight trade on Thursday.

Asian stocks, too, tumbled in the early trade. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.51 per cent while Japan's Nikkei tumbled 1.91 per cent.

SGX Nifty, the Singaporean exchange for Nifty Futures, also suggests a negative start for the indices.

On Thursday, indices hit fresh five-month lows with the S&P BSE Sensex slipping below the 37,000 mark and the broader Nifty50 breached 11,000 mark in the intra-day trade.

The Sensex ended 463 points, or 1.23 per cent, lower at 37,018 level while the Nifty50 ended the day with losses of 138 points, or 1.24 per cent, at 10,980 mark.

Now, lets see the stocks that are likely to remain in focus today--

>> Bharti Airtel reported its Q1 result yesterday, after market hours, and posted a loss of staggering Rs 2,866 crore. However, revenue was up 2.8 per cent at Rs 15,345 crore.

>> Auto stocks may be in focus as data showed that sales in July continued to go down amid poor demand.

>> Public lender SBI is scheduled to report its June quarter result today and is expected to clock a net profit of Rs 5,934.5 crore as compared to a net loss of Rs 4,875.9 crore in Q1FY19. In total, 82 companies are scheduled to declare their Q1 results today. You can read full coverage on these results and other companies on our website.

At last, here are the top headlines--

>> DSP Mutual Fund has initiated legal action against DHFL to recover dues

>> Lenders are unwilling to provide extra funds to the beleaguered Jet Airways

>> GST collections were back above the Rs 1 trillion mark in July despite a subdued central and state GST revenue mop-up.

First Published: Fri, August 02 2019. 08:22 IST
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