Trade Nivesh | Trade before Friday Top 10 Things to Know
Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services:
Going ahead, the market may look forward to more positive signs of economic recovery and would track the development around the US stimulus announcement. Investors will also keep a close watch on India-China border tensions and global markets for cues.
Technically, Nifty is finding hurdles at higher zones but at the same time decline is being bought into. Nifty needs to hold above 11550 which could again give an upper hand to bulls to drive the move towards 11750-11800 zones, while the support stands near 11400-11300.
National Aluminium Company, Future Retail, Goodyear India, Jubilant Life Sciences, NLC India, Repco Home Finance, RattanIndia Infrastructure, RattanIndia Power, Seamec, Simbhaoli Sugars
ECB policymakers reportedly warned that if the euro keeps appreciating it will weigh on exports, drag down prices and intensify pressure for more monetary stimulus. This would provide short-term support to the dollar.
The dollar-rupee September contract on the NSE was at 73.68 in the last session. The open interest in the September series declined by 1.9% while it increased by 6.15% in the next series.
Margin penalty waived till September 15: NSE
National Stock Exchange (NSE) has been decided to not levy a penalty for client margin short/non collection and reporting in Cash and Derivatives segments.
This provision shall be applicable for a period of 15 days i.e. from September 1, 2020, to September 15, 2020, to facilitate a smooth transition for members to the new system.
Wall St slips:
A gauge of global stocks fell on Thursday from a record high in its biggest one-day decline in nearly three months as the technology sector sold off, while the dollar continued its bounce from more than two-year lows.
The Dow Jones Industrial Average fell 808.17 points, or 2.78%, to 28,292.33, the S&P 500 lost 125.84 points, or 3.51%, to 3,455 and the Nasdaq Composite dropped 598.34 points, or 4.96%, to 11,458.10.
SGX Nifty: Trends on SGX Nifty indicate a weak start for the broader index in India, with a loss of 112 points or 0.97 percent. The Nifty futures were trading around 11,432 levels on the Singaporean Exchange.
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Stay tuned to Trade Nivesh to find out what happens in currency and equity markets today. We have collated a list of important headlines across news platforms that could impact Indian as well as international markets.