The Indian market is likely to open flat on Tuesday amid mixed cues from Asian peers. The trends on SGX Nifty also indicate a flat start for the broader index in India. The Nifty futures were trading 18.20 points or 0.10 percent lower at the 17,426 level on the Singaporean Exchange at 7:45 IST.
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1. Wall Street: In regular trading Friday, the Dow lost 74.73 points, or 0.21 percent, while the S&P 500 fell slightly by 0.03 percent. The tech-heavy Nasdaq rose 0.21 percent, helping support the broader market. The losses came after the August jobs report came in short of expectations, highlighting continued concern about the spread of Covid and its delta variant.
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2. Asian stocks: Shares in Asia-Pacific were mixed in Tuesday morning trade as investors look ahead to the release of Chinese August trade data. The Reserve Bank of Australia is also set to release its rate decision. The Nikkei 225 in Japan rose 0.72 percent. The Shanghai composite in mainland China shed 0.11 percent while the Shenzhen component sat fractionally lower. Hong Kong’s Hang Seng index hovered above the flatline.
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3. Dalal Street: Indian equity benchmarks surged to record highs for yet another day on Monday with the Nifty50 index crossing the 17,350 mark, led by IT and consumer durable shares. The Sensex index rose 166.96 points or 0.29 percent to end at 58,296.91 and the broader Nifty50 benchmark climbed 54.20 points or 0.31 percent to 17,377.80 -- a second straight day of record closing highs. During the session, Sensex and Nifty clocked all-time highs of 58,515.85 and 17,429.55 respectively.
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4. Oil: Oil prices were wobbly on Monday as investors grappled with demand concerns after Saudi Arabia's sharp cuts to crude contract prices for Asia. Brent crude futures for November rose 4 cents, or 0.1 percent, to $72.26 a barrel. US West Texas Intermediate crude for October was at $68.88 a barrel, down 0.6 percent, from Friday's close, with no settlement price for Monday due to Labor Day holiday in the United States.
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5. Rupee: The rupee on Monday declined by 8 paise to close at 73.10 against the US currency mainly due to the dollar's gains in the global markets. At the interbank foreign exchange market, the domestic currency opened flat at 73.02 but later lost ground to touch a low of 73.11 in the day trade.
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6. Gold: Gold on Monday declined Rs 79 to Rs 47,524 per 10 grams in line with weak global precious metal prices. In contrast, silver gained Rs 121 to Rs 65,209 per kilogram. In the international market, gold was trading lower at USD 1,826 per ounce and silver was flat at USD 24.78 per ounce.
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7. Bitcoin: El Salvador has bought its first 200 bitcoins, President Nayib Bukele said on Monday, an announcement that sent the price of the cryptocurrency rising one day before the country formally adopts it as legal tender alongside the US dollar. Bitcoin temporarily climbed 1.39 percent to more than $52,600 on Monday afternoon, Refinitiv Eikon data showed, with a Reuters market analyst putting it on track for $56,000-$56,300.
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8. IPO: Chemspec Chemicals and Northern Arc Capital have received capital markets regulator Sebi's approval to raise funds through initial share sales. The two companies had filed their preliminary IPO papers with the Securities and Exchange Board of India (Sebi) in July.
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9. Input tax credit: Industries have raised red flags over fresh notices being issued denying input tax credit (ITC), alleging wrongful claims, in turn leading to hardships for businesses. According to sources, the Directorate General of GST Intelligence has been issuing these notices over the past month and now industries have escalated the matter to North Block.
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10. EPFO: The Employees' Provident Fund Organisation (EPFO) is likely to credit the interest for FY21 before Diwali, according to the Livemint report. This will take place along with the hike in dearness allowance (DA) and dearness relief (DR) given to central government employees and pensioners.