Stock Market Today: Top 10 things to know before the market opens today

The market is expected to be opened in red as a trend in SGX Nifty shows a negative opening for a broader index in India with a loss of 68 points.

BSE Sensex collects 545 points to 58,115, while Nifty50 jumped 182 points to 17,340 and forming low formation higher higher for the third successive session on Monday.

According to the pivot graph, the main level of support for nifty is placed at 17,211, followed by 17,082. If the index moves upwards, the level of key resistance that must be watched out is 17,413 and 17,485.

Stay connected with moneycontrol to find out what is happening in the currency market and equity today. We have collected important news lists in all news platforms that can affect the Indian and International markets:

Wall Street ended a three -day -old win and crude oil price that plummeted on Monday as economic data from the US, Europe and China showed a weakened demand under inflationary pressure, while the possibility of recession to limit risk.

The three major US indexes ended lower waves sessions on the first day of August, on the S&P 500s and the largest monthly percentage profits in Nasdaq since 2020.

Dow Jones Industrial Average fell 46.73 points, or 0.14 percent, to 32,798.4, S&P 500 lost 11.68 points, or 0.28 percent, to 4,118.61 and Nasdaq composites fell 21.71 points, or 0 , 18 percent, to 12,368.98.

Asian Market

Asian shares continued to decline from Wall Street on Tuesday, and the results of the long -term Treasury US sank to the lowest four months, withdrew the US dollar down to Yen and other currencies because investors were worried about the risk of global recession.

Australian and South Korean equity benchmarks suffered losses of about 0.3 percent, while Nikkei Japan fell 1.17 percent. The area of the Asia-Pacific shares of MSCI resigned 0.8 percent.

Sgx nifty

The SGX Nifty trend shows a negative opening for a broader index in India with a loss of 68 points. Nifty Futures traded around 17,325 levels at Singapore’s exchange.

The price of oil slipped as a concern for a weak manufacturing data recession

Oil prices rose lower on Tuesday, expanding losses from the previous session, because investors were worried about global oil demand following weak manufacturing data in several countries.

Brent Crude Futures dropped 29 cents to $ 99.74 per barrel of 0002 GMT, with WTI Crude Futures dropped 22 cents at $ 93.67 per barrel. The slide came after Brent Futures dropped on Monday to the lowest session of $ 99.09 per barrel, the lowest since July 15. US crude oil benchmark descending to as low as $ 92.42 per barrel, weakened since July 14.

The government said it was committed to reducing fiscal deficits below 4.5% in 2025-26

The government is committed to reducing fiscal deficit to less than 4.5 percent of gross domestic product in the 2025-26 financial year, State Minister for Pancaj Chaudhary’s finances said August 1.

“In line with the commitment made in the budget for the FY 2021-22, the government is committed to reaching fiscal consolidation to reach the level of fiscal deficit lower than 4.5 percent of GDP by the TA 2025-26,” Chaudhary said in a written response at Lok Sabha .

The 5G spectrum auction ends with an offer of more than RS 1.5 Lakh Crore; Top Reliance Jio Officer

The auction for the 5G spectrum has ended with the government cumulatively accepting more offers from RS 1.5 Lakh Crore, Minister of Telecommunications Union Ashwini Vaishnaw said on August 1.

Of the 72,098 MHz of the total spectrum offered, around 71 percent or 51,236 MHz has been sold in auction held through 40 rounds of offer for the last seven days, said Vaishnaw. The government has received “the total amount of RS offer 1.50,173 Crore,” said the Minister.

The spectrum allocation will be completed on August 10, said Vaishnaw, adding that the amount of spectrum purchased “is enough to cover the entire country with 5G”.

Reliance Jio, a telecommunications arm from Reliance Industries Ltd (RIL), is the largest 5G spectrum acquisition, with an offer of more than 88,000 Crore Hospital.

Among the other three bidders, Bharti Airtel took 19,867 MHz (700, 800, 1800, 3300, 26GHz) with a total debt of RS 43,084 Crore. The idea of Vodafone, which is considered as a player in the third major telecommunications sector after Jio and Airtel in terms of market share obtained by the spectrum worth RS 18,799 Crore.

There are no questions about India that slipped into a recession or stagflation: FM Nirmala Sitharaman

There was no question about India that slipped into a recession or stagflation, Minister of Finance Nirmala Sitharaman told Parliament, when the opposition asked the government for the new acceleration at the inflation rate.

Sitharaman, while rejecting the accusation of maintaining the price of goods -is important, said the government not only controls inflation but efficiently managing the country’s debt. “India’s general debt is also in a good position compared to many other countries,” said the Minister of Finance, during a discussion about price increases at Lok Sabha.

Sitharaman added that although projections reduce, India is still recognized as the fastest growth economy.

ITC’s profit jumped 33% to RS 4,462 Crore in Q1; Revenue increases 39%

ITC’s diversified conglomerate on August 1 said its net profit based on the consolidation for the quarter ended June 2022 (Q1fy23) came at 4,462.25 crore hospitals, up 33.46 percent of the 3,343.44 Crore hospitals that were registered in the appropriate quarter of the previous fiscal.

The amount above is estimated as a CNBC TV18 Analyst’s opinion in projecting RS 4,050 CRORE. Revenue from the operation was established in RS 19,831.27 Crore, up 39.25 percent from RS 14,240.76 Crore recorded in the same quarter last year.

The company said its cigarette revenue jumped 28.63 percent to RS 7,464.10 Crore Year-to-year (yoy). Non-smoking income came at RS 4,458.71 Crore, up 19.49 percent yoy.

Results on August 2

Bosch, Indus Towers, Siemens, Adani Green Energy, Bank of India, Voltas, Enterprises Brigade, Deepak Nitrite, Dhanuka Agritech, Dodla Dairy, Gateway Distiparks, Gati, Godrej properties, Gravita India, JM Financial, Jubilant Pharmova, Lemon Tree Hotels, Moil, Paradeep Phosphate, RPG Life Sciences, Schneider Electric Infrastructure, Shyam Metalics and Energy, Thermax, Tube Investments of India, and Vaibhav Global will be the focus before the June quarter income on August 2.

FII and DII data

Investors of Foreign Institution (FII) Net bought shares worth 2,320.61 CRORE RS, while Institutional Investors Investors (DIIS) shares were sold at 822.23 Crore RS on August 1, according to temporary data available at NSE.