SGX Helpful Global Directions and Other Things You Need to Know Before the Stock Market Opens Today

Meanwhile, a sharp sell-off in Chinese stocks overnight, as concerns about the impact of a recent tightening of government regulations weighed down prices, drove global stock markets lower Tuesday.

Wall Street: A slump in technology and consumer stocks dragged the US market down, with major indices falling below the record highs they had set a day earlier. The S&P 500 made a five-day winning streak, while the Dow Jones closed 0.25% lower. The tech heavyweight Nasdaq 100 fell more than 1%

Asian markets: Asian stocks trailed Wall Street lower on Wednesday’s open, as a defeat in China prompts caution and gains from US megacap technology received mixed reactions. Futures in Japan and Australia fell but rose in Hong Kong, where shares have gone into hiding after a regulatory crackdown, leaving investors wondering how far Beijing will go to curb the power of its big companies.

IMF Growth Forecast: The International Monetary Fund (IMF) on Tuesday cut India’s economic growth projection for FY22 to 9.5% from 12.5% ​​estimated in April, citing a slow recovery in consumer confidence following the ferocious second wave of the pandemic and a late vaccination program.

SGX Nifty: Trends on SGX Nifty point to a positive open for Indian markets on Wednesday. Singapore Nifty (SGX Nifty) is the Indian Nifty traded on the Singapore Stock Exchange and is considered the first indication of the opening of the Indian markets.

Q1 announcements: On Tuesday. InterGlobe Aviation, the parent company of India’s domestic domestic airline IndiGo, posted its largest quarterly loss, hit by the second wave of Covid. The loss widened to 3,174.20 crore in the June quarter of 2,844 crore a year earlier.

Separately, private lender IndusInd Bank reported a nearly doubling of net profit from June to Tuesday 1,016 crore yoy due to lower provisions.

Income today: Maruti Suzuki, Central Bank, Happiest Minds, IDBI Bank, Nestle India, Coforge, Birlasoft, Dhanlaxmi Bank are some of the companies set to release their quarterly results for the first quarter today.

IPO today: Rolex Rings Limited’s IPO (IPO) of auto parts maker opens for tender today and can be bid until July 30. The company has set its price range for its first share sale at 880-900 a share.

(With input from agencies)