Here are the key things investors should know before the market opens today:
Wall Street ends higher on Friday
U.S. stocks ended higher on Friday as investors cheered upbeat earnings forecasts from Apple and Amazon, while hopes for less aggressive monetary policy from the Federal Reserve also boosted stocks. feelings. Demand for equities was boosted on hopes that central banks will have to scale back monetary tightening if aggressive rate hikes impact growth in the world’s largest economy. On the corporate front, shares of Amazon and Apple surged after posting strong earnings, easing fears of a slowdown in earnings. The Dow Jones Industrial Average rose 1%, the S&P 500 gained 1.4% and the tech-heavy Nasdaq Composite jumped 1.9%.
Asian stocks mixed on weak Chinese data
Asia-Pacific stocks were trading mixed at the start of trade on Monday as weak Chinese economic data rattled sentiment, while strong signals from Wall Street limited market losses. Chinese factory activity contracted in July as the Covid-19 pandemic impacted demand. According to the data, the purchasing managers’ index (PMI) for the manufacturing sector fell to 49 in July, below a forecast of 50.4.
Mainland China markets were trading mixed, with the Shanghai Composite falling 0.6% and the Shenzhen Component rising 0.4%.
The Hang Seng Index in Hong Kong was the worst performer in the regional market with a loss of 1.1%, followed by the Straits Times in Singapore, which fell 0.3%. Among others, the weighted index of Taiwan fell by 0.15%.
Japan’s regional heavyweight Nikkei 225 gained 0.5%, South Korea’s Kospi jumped 0.35% and Australia’s ASX 200 gained 0.3%. The Jakarta Composite in Indonesia also rose 0.6%.
Leading companies to report their June quarter results today include ITC, Zomato, UPL, Eveready Industries India, Punjab & Sind Bank, Varun Beverages, Castrol India and others. Among others, Arvind, Bajaj Consumer Care, Barbeque-Nation Hospitality, Carborundum Universal, Escorts Kubota, Indo Count Industries, Kansai Nerolac Paints, Max Financial Services, Prudent Corporate Advisory Services, The Ramco Cements, RateGain Travel Technologies, Thyrocare Technologies and Triveni Turbine will also be a focus ahead of their results report.
REITs pump ₹5,000 crore in July
After nine consecutive months of selling, overseas investors turned net buyers and invested nearly ₹5,000 crore in Indian stocks in July. This contrasts sharply with the net fund outflow of ₹50,145 crore from the stock market in June, which was the highest since March 2020. Over the past nine months since October 2021, Foreign Portfolio Investors (REITs) have sold a whopping ₹2.46 lakh crore in Indian stock markets till June 2022.