SGX Nifty Heralds a cautious begin for Sensex, Nifty; 5 issues it’s best to know earlier than the market opens

Investors will follow Covid-related news, oil price movements and rupee development paths to determine market direction. Image: Reuters

Nifty Futures traded 9 points lower at 15,754.50 in early trading on the Singaporean Exchange. BSE Sensex and Nifty 50 should open in negative territory on Wednesday. Investors will follow Covid-related news, oil price movements and rupee development paths to determine market direction. In addition, company results, share-specific developments and other global information are also observed by market participants. In the absence of a trigger, analysts expect the index to continue to consolidate. “It is advisable to proceed with a stock-specific approach to trading. Needless to say, the stability of the banking index is crucial for Nifty’s further directional movement, otherwise the lackluster movement would continue, ”said Ajit Mishra, VP – Research, Religare Broking Ltd.

Global clock: Asian stock markets traded lower in early trading Wednesday, with the Japanese Nikkei 225 falling 0.3 percent. The Topix index lost 0.2 percent and the South Korean Kospi lost 0.18 percent. Wall Street stocks ended mixed overnight on Wednesday. The Dow Jones Industrial Average was down 0.09 percent, the S&P 500 was up 0.02 percent, and the Nasdaq Composite was up 0.31 percent.

FII and DII data: On Tuesday, foreign institutional investors (FIIs) outpaced shares valued at Rs.1,422.71 billion, while domestic institutional investors (DIIs) on Aug.

Q4 results today: A total of 37 BSE-listed companies including GAIL India, Bata India, Bajaj Healthcare, BCL Industries, Dynamic Cables, Gayatri Highways, GSS Infotech, Indian Metals & Ferro Alloys, Indraprastha Medical Corporation, Munjal Auto Industries, Shivam Autotech, Star Cement, Taneja Aerospace and TeamLease Services are expected to announce quarterly results from January through March on June 9th.

Sona BLW IPO opens on June 14th: Sona BLW Precision Ltd or Sona Comstar, the initial public offering (IPO) of an automotive component manufacturer valued at Rs 5,550 crore, will open for subscription on June 14, 2021.

World Bank cuts India’s GDP in FY22: The World Bank on Tuesday lowered India’s GDP forecast for FY22, the fiscal year beginning April 2021, to 8.3 percent, compared to its earlier estimate of 10.1 percent. India’s growth is forecast to be 7.5 percent in 2022, though its recovery will be hampered by an unprecedented second wave of Covid-19, the largest outbreak in the world since the deadly pandemic began.

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