The market is likely to open flat with a positive bias on Tuesday on mixed cues. The Singapore-traded SGX Nifty was at levels around 11,430 vs Nifty August Future's close of 11,414, indicating a slightly positive opening for Indian equities today.
Here is what you need to know before the market opens: Asia: Stocks were largely steady on Tuesday, with worries over the US-China trade conflict offsetting support from earnings-led gains on Wall Street. MSCI’s broadest index of Asia-Pacific shares outside Japan was almost flat. Australian stocks dipped 0.2 percent, South Korea's KOSPI rose 0.05 percent and Japan's Nikkei added 0.25 percent. Wall Street: US shares settled higher overnight, with the Nasdaq rising for a fifth straight day. The S&P 500 index rose 10.05 points to 2,850.40. The Nasdaq Composite Index gained 47.66 points to 7,859.68 and the Dow Jones Industrial Average advanced 39.60 points to 25,502.18. Dollar: The dollar drew support as international trade tensions continues. Its index against a basket of six major currencies rose to a near three-week high of 95.515, before pulling back slightly to 95.347. The euro fell to a five-week low of $1.1530 overnight, while the dollar was steady at 111.35 yen after edging up 0.1 percent overnight. Oil: Brent crude oil futures were down 0.05 percent at $73.71 a barrel. They had gained 0.75 percent on Monday after OPEC sources said Saudi production had unexpectedly fallen in July. Market at close: The BSE Sensex closed higher by 135.73 points to 37,691.89, while the Nifty 50 rose 26.30 points to 11,387.10. In Intraday trade, Sensex surged 249.09 points to a new high of 37,805.25 and the Nifty 50 jumped 66.85 points to a fresh record high of 11,427.65. Rupee: The Indian rupee ended at 68.88 against Friday's close of 68.61. The home currency has ended at the lowest level against the the dollar since July 24. DIIs & FIIs: Foreign institutional investors (FIIs) bought shares worth Rs 248.7 crore and domestic institutional investors Rs 218.64 crore in the Indian equity market on Monday. HDFC AMC: The IPO from the HDFC group made a stellar debut on both NSE and BSE, surging over 67 percent from the issue price. HDFC AMC shares rose to Rs 1,844 at day’s high on NSE, as compared to the issue price of Rs 1,100. HDFC AMC shares opened 58.09 percent higher on the BSE at Rs 1,739 apiece. June quarter results: M&M, Motherson Sumi, PNB, TVS Motor, Adani Enterprises, Edelweiss Financial Services, GSK Consumers, Mphasis Ltd, AU Small Finance, Adani Transmission, Future Lifestyle Fashions, Asahi India Glass, Birla Corp, Kalpataru Power Transmission and Bombay Dyeing among others will announce their first quarter result. Letter of Undertaking: The parliamentary standing committee on Monday asked for immediate restoration of practice of issuing letter of undertaking(LoU) and letter of comfort(LoC). The central bank had scrapped the instruments after Punjab National Bank lost around Rs 14,000 crore in a massive LoU fraud involving diamond merchant Nirav Modi. Also read:
The stocks making the biggest moves premarket