Important Information For August 22 Stock Trading Strategy

The Indian equity benchmarks are set to open lower as indicated by the Nifty Futures traded on Singapore Exchange. Nifty Futures on Singapore Exchange also known as SGX Nifty Futures fell 0.37 per cent or 66 points to 17,678 amid weak global cues.

Here are key things to know before market opens on Monday:

Asian Markets

Asian shares slipped on Monday and the dollar extended its climb amid angst over global growth as most major banks keep raising rates, while a modest easing by China served only to highlight troubles in its property market.

Japan's Nikkei was down 0.45 per cent, Hong Kong's Hang Seng fell 0.51 per cent, Taiwan Weighted declined 0.87 per cent and South Korea's KOSPI dropped 0.8 per cent.

US Markets

Wall Street capped a choppy week of trading Friday with a broad slide for stocks that left the major indexes in the red for the week.

The S&P 500 closed 1.3 per cent lower, breaking a four-week winning streak. Shares in more than 80 per cent of the companies in the benchmark index fell, with technology stocks driving much of the pullback.

The tech-heavy Nasdaq composite fell 2 per cent and also ended four weeks of gains. The Dow Jones Industrial Average dropped 0.9 per cent, ending slightly in the red for the week. Small company stocks also lost ground, pulling the Russell 2000 index 2.2 per cent lower.

Friday marked the heaviest selling for the market, including the S&P 500′s biggest decline in more than seven weeks, after a solid run of weekly gains. The strong market rally in July and early August followed better-than-expected company earnings and signs that the economy is slowing, possibly setting the stage for less aggressive rate hikes, the Federal Reserve’s main tool for taming surging inflation.

Gold and Crude Oil Price Check

Benchmark U.S. crude oil for September delivery rose 27 cents to $90.77 a barrel Friday. Brent crude for October delivery rose 13 cents to $96.72 a barrel.

Gold for December delivery fell $8.30 to $1,762.90 an ounce. Silver for September delivery fell 39 cents to $19.07 an ounce and September copper rose 3 cents to $3.66 a pound.

The dollar rose to 136.91 Japanese yen from 135.91 yen. The euro fell to $1.0034 from $1.0091.

Foreign Flows

Foreign institutional investors sold shares worth Rs 1,111 crore on Friday while domestic institutional investors sold shares worth Rs 1,633 crore.

Stocks In Focus

Zomato: Amid a row, online food delivery firm Zomato has withdrawn the advertisement featuring actor Hrithik Roshan and apologised while clarifying that the “Mahakal” reference was for a restaurant and it didn't mean the Ujjain-based temple.

Two priests of the famous Mahakaleshwar temple in Madhya Pradesh had objected to the advertisement claiming that it offended Hindu sentiments and demanded its withdrawal.

Madhya Pradesh Home Minister Narottam Mishra had issued directives to the police to look into the controversy.

In the advertisement, Roshan says he felt like having a "thali" (food platter) in Ujjain so he ordered it from "Mahakal".

InterGlobe Aviation: An IndiGo flight from Delhi to Kolkata suffered a "false cargo smoke warning" before landing on Sunday and aviation regulator DGCA is probing the incident.

After arrival at Kolkata airport, inspections were carried out in the Airbus aircraft and the "warning was confirmed as spurious", IndiGo said on Sunday.

According to its statement issued on Sunday evening, necessary rectifications on the detection system are in progress.

LIC: LIC Mutual Fund, having missed the growth bus in the past three decades of operations, is on a catch-up bid and has set a target of crossing the Rs 1-lakh-crore-AUM-mark in the next five years.

The past few years have seen the 43-player mutual fund industry growing at an exponential pace both in terms of Assets under management (AUM) and number of folios.

The AUM jumped 14 per cent on-year in June 2022 to Rs 37.74 lakh crore, while the number of folios grew to an all-time high of 13.55 crore, according to the latest Amfi data.

Larsen & Toubro: Engineering major Larsen & Toubro is committed to work across the green energy value chain and plans to invest up to $2.5 billion over the next 3-4 years, a company official said.

The investment of such a large scale in the green energy sector depends upon how the market evolves.

The statement comes in the wake of Larsen & Toubro (L&T) planning to achieve water and carbon neutrality by 2035 and 2040, respectively.