The Indian markets are expected to open lower today, as indicated by the SGX Nifty, which was trading with the cut of around 30 points at 7:30 AM. In overnight trade on Wall Street, the Dow Jones fell 1.45 per cent, the S&P 500 lost 1.76 per cent, and the tech-heavy Nasdaq dropped 2 per cent.
Asian markets were flat to mixed on Friday amid growing concerns about another round of negotiations on the UK’s departure from the European Union.
Australian ASX 200 fell 1 per cent while Japan's Nikkei was up 0.2 per cent in early deals. Hong Kong's Hang Seng index also gained 0.1 per cent.
In commodities, Brent crude was last trading at $39.89 per barrel.
Back home, the IMF has said the immediate priority for India needs to be a coordinated policy response to fight Covid-19 outbreak as it had an unprecedented impact on the economy. Moreover, ratings agency Crisil said the Indian economy is expected to contract by 9 per cent in FY21 as the coronavirus infections are yet to peak and the government was not providing adequate direct fiscal support. On Thursday, India reported nearly 97,000 new Covid-19 cases to take the tally past the 45-lakh mark, as per Worldometer website.
Apart from these, market participants will continue to track newsflow on India-China front, while stock-specific developments will also be tracked. The July industrial and manufacturing production data is scheduled to release today, but after market hours.
On the results front, Hindustan Aeronautics yesterday reported profit at Rs 148.65 crore in the June quarter against Rs 564.69 crore in the year-ago quarter. A total of 104 companies including IRCTC, BHEL, and Adani Green are scheduled to announce their quarterly earnings today.
And, now a quick look at other top news --
The Rs 600-crore IPO of Route Mobile was subscribed more than 4x on Thursday, a day before its close.
The government on Thursday set up a three-member committee to examine calls for relief on interest banks are charging on loan instalments deferred during the moratorium period due to the coronavirus pandemic.
Japanese auto major Suzuki Motor Corporation, has increased its stake in Indian subsidiary Maruti Suzuki to 56.37 per cent by purchasing 2.84 lakh equity shares from the market.
Info Edge is set to trade actively in today's session after Zomato's CEO said the firm was planning an IPO by the middle of the next year. Zomato also raised Rs 760 crore in Series J funding from from US-based hedge fund Tiger Global Management. Info Edge owns 27.6 per cent stake in Zomato.
YES Bank has repaid Rs 50,000 crore it took under Reserve Bank’s special liquidity facility on September 8, well before the due date. Meanwhile, CRISIL has upgraded rating on the bank’s certificates of deposit from “A2” to “A2+” due to the improvement in the funding and liquidity profile of the bank.