Before the trading day begins, learn about the number of factors that may influence share prices and the trading climate in stock markets.
Important developments across the globe, the current situation of global markets, sentiments, and the overall news related to stocks or companies are some of the key indicators that you need to consider before investing in the stock market.
Also, the views of brokerages on select stocks and buy/hold/sell recommendations with target prices play a significant role in determining how the markets are going to perform.
Asian Markets: Asian markets opened lower in trade as US-China trade war intensified. America said it will hike tariffs on $250 billion worth of Chinese goods to 30 per cent, from 25 per cent earlier. Beijing unveiled new tariffs last Friday on $75 billion of US goods.
US Markets: Wall Street plunged in trade with Dow plummeting more than 600 points. US President Donald has ordered US manufacturers to leave China. S&P 500 ended 2.6 per cent lower, while Nasdaq dropped 3 per cent in trade. Dow dropped about 1 per cent for the week, S&P 500 pulled back 1.4 per cent, while Nasdaq lost 1.8 per cent. US Federal Reserve Chairman Jerome Powell said the central bank will “act as appropriate” to sustain the US economic expansion. Investors interpreted Powell’s speech as leaning towards a dovish monetary policy stance. Yield curve inverted again. The spread between the 10-year Treasury yield and the two-year yield inverted multiple times.
European Markets: European markets ended lower with the pan-European Stoxx 600 closing provisionally about 0.7 per cent lower.
Crude: Crude slipped in morning hours after falling over 2 per cent in overnight trade. Brent and WTI fell 1.5-1.9 per cent in morning trade.
Gold: Gold soared 2 per cent after US Fed Chairman Jerome Powell’s speech, Trump tweets.
STOCKS IN NEWS
Interglobe Aviation: Promoter Rakesh Gangwal said the board has approved new related party transaction policy. AoA will be amended at the upcoming AGM on August 27 to increase board strength to 10. He said the proposed changes to articles are in light of positive developments and it’s gratifying to see progress towards better governance.
Jet Airways: The meeting of the committee of creditors (CoC) is scheduled to be held today. The lenders may discuss the bids received and interim funding today.
Tata Motors: Tata Motors has indefinitely deferred a planned fundraise of up to $1.5 billion in foreign currency loans after failing to garner sufficient interest from potential lenders, according to a Mint report.
Reliance Industries: Reliance Industries’ retail arm, Reliance Retail, could launch its “new commerce" venture around Diwali, according to a Mint report. The company is planning a two-phase rollout with full-fledged launch scheduled in December to January. The new commerce is company’s offline-to-online initiative to link stakeholders via technology.
Alkem Laboratories: The pharma firm has received a Form 483 with four observations for its St. Louis, Fenton Park, USA facility and no Form 483 for Baddi, India facility. The company said it will respond with corrective and preventive measures.
IPCA Laboratories: The US Food and Drug Administration (FDA) has conducted an inspection of its Piparia unit from August 19 to August 23 and issued three observations. It has issued a Form 483 with three observations.
Natco Pharma: The firm has increased its stake in OMRV Hospitals from 9.29 per cent to 12.81 per cent. It has also increased its stake by 6.25 per cent in US-based AACT.
Lakshmi Vilas Bank: The lender’s board will consider fund raising via QIP, bonds on August 28.
DHFL: The cash-strapped mortgage lender has defaulted on series of NCDs worth Rs 11.1 crore.
International Paper APPM/West Coast Paper Mill: The Competition Commission of India (CCI) has approved share purchase in International Paper APPM by West Coast Paper Mill.
Jain Irrigation: India Ratings has downgraded Jain Irrigation to 'BB'.
Union Bank: The lender has launched repo-linked home, auto loans. It will offer Rs 30-75 lakh home loans at 8.25 per cent, and auto loans at 8.60 per cent.
Piramal Enterprises: The company will consider issue of secured NCDs on private placement basis worth Rs 500 crore.
SBI Life Insurance: The company’s shareholders have approved increase in FPI investment in the insurer to 49 per cent.
Glenmark: The company has clarified that the report of up to 30 per cent stake sale in API operations is “speculative”.
Cupid: The company has received orders worth Rs 4.95 crore from UNFPA.
INEOS Styrolution India: The company’s promoters has set a floor price of Rs 419 per share for de-listing its 44 lakh shares (25 per cent equity stake).
GAIL: The company has launched supply of CNG, domestic PNG and CNG-run vehicles in Ranchi.
Essel Propack: Ashok Goel reduced his stake from 56.65 per cent to 7.67 per cent via off-market sale on August 22.