The market is expected to be opened in green as a trend in SGX Nifty shows a positive opening for a broader index in India with a profit of 43 points.
BSE Sensex rose 21 points to 58,136, while NIFTY50 increased 5.5 points to 17,345.50 and formed a type of Doji pattern on a daily graph on Tuesday, with a higher low high formation for the fourth successive session.
According to the pivot graph, the main level of support for nifty is placed at 17,244, followed by 17,143. If the index moves upwards, the level of key resistance that must be considered is 17,418 and 17,492.
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Wall Street ended lower after the waves session on Tuesday, with geopolitical tension that widened after the speaker of the US Council of Representatives Nancy Pelosi visited Taiwan.
Nasdaq fell 0.16 percent to 12,348.76 points, while Dow Jones Industrial Average dropped 1.23 percent to 32,396.30 points. The S&P 500 fell 0.66 percent to end the session at 4,091.32 points.
Asian Market
The shares in Asia-Pacific were mostly higher on Wednesday because the geopolitical tension between the US and China increased on the visit of the US Speaker Nancy Pelosi to Taiwan.
The mainland Chinese market leads the profits. Shanghai’s composite rose 0.93 percent, and the Shenzhen component added 1.29 percent. On Tuesday, before the arrival of the pelSi, the two indexes fell by 3 percent in a trading session. Hong Kong’s Hang Seng Index rose 1.14 percent. Taix Taiwan is 0.27 percent lower.
Kospi in South Korea rose 0.4 percent and Kosdaq was 0.67 percent higher. Nikkei 225 Japan rose 0.49 percent and the Topix index rose 0.15 percent. However, S&P/ASX 200 in Australia fell 0.55 percent. The area of the Asia-Pacific shares of MSCI outside Japan increased 0.12 percent.
Sgx nifty
The SGX Nifty trend shows a positive opening for a broader index in India with a profit of 43 points. Nifty Futures traded around 17,369 levels at Singapore’s exchange.
The trade deficit reached the highest record of $ 31 billion in July, exports fell 12% of mothers
The Indian merchandise trade deficit jumped to the highest record of $ 31.02 billion in July, BVR Trade Secretary Subrahmanyam said on August 2. The highest record was set in June, when the trade deficit was $ 26.18 billion. The deficit in July 2021 was almost one third of last month at $ 10.63 billion.
According to the temporary data released by the Ministry of Trade, the import of merchandise reached $ 66.26 billion in July compared to $ 46.15 billion in the same month last year.
Results on August 3
Lupin, Adani Power, Interglobe Aviation, Vodafone Idea, Godrej Consumer Products, Aditya Birla Capital, Adani Transmission, Adani Wilmar, Basf India, Birlasoft, Chambal Fertiliers, Devyani International, Firstsource Solutions, and Space Technologies, PI Industries, Sandhar Technologies, Satin CreditCare Network, Special Restaurants, Tata Coffee, and Zuarari Agro Chemicals will be the focus ahead of the June quarter income on August 3.
Oil falls due to concern, a stronger US dollar
Oil prices fell by about 1 percent in early trading on Wednesday, reversing profits from the previous session before the OPEC+ producer meeting because of the concern of slowing global growth that reached a stronger fuel and dollar demand.
Brent Crude Futures fell 94 cents, or 0.9 percent, to $ 99.60 per barrel in the middle of the night in London, destroying the profits of the previous session. West Texas Intermediate (WTI) crude oil futures dropped 68 cents, or 0.7 percent, at $ 93.74 per barrel, after climbing 53 cents on Tuesday.
The US dollar rose with US yields after Fed Doves said he hoped for more tariff increases
The US dollar continued to increase on Wednesday after the largest surge in three weeks against the main colleagues last night, with Federal Reserve officials discussing the potential for aggressive interest rate increases.
Greenback continued the increase in versus Yen Safe-Haven, extending his best benefits for six weeks, because the US treasury also recovered after the arrival of DPR speaker Nancy Pelosi in Taiwan was welcomed with a strong response, but not outside the scale by China.
The US dollar index, which measures the currency against six main colleagues including Yen, 0.05% is higher at 106.50, after rebounding 1% overnight after the slide to the lowest level almost one month at 105.03.
FII and DII data
Foreign Institutional Investors (FII) have shares purchased clean worth RS 825.18 Crore, while shares are purchased with domestic institutional investors (DIIS) worth 117.79 CRORE RS on August 2, according to temporary data available in NSE.
Chinese service activities July developed at the fastest speed in 15 months – Caixin PMI
Chinese service activities grew at the fastest level in 15 months in July for easeing Covid Curbs to increase consumer confidence, but foreign demand fell and the company cut staff for the seventh month in a row, a private sector survey showed on Wednesday.
The Caixin Service (PM) purchase manager index rose to 55.5 in July, the fastest growth since April 2021, increased further from the strong reading of 54.5 in June.
Stock under the prohibition of f&O in NSE
National Stock Exchange has added escort under the list of F&P ban for August 3. Securities in the prohibition period under the F&O segment including companies where security has crossed 95 percent of market position limits throughout the market.
