GOOD MORNING, ALL
SGX Nifty
Trends in SGX Nifty indicate a negative opening for the broader index in India with a loss of 13 points. The Nifty futures were trading around 17,410 levels on the Singaporean exchange.
US employers add 528,000 jobs; unemployment falls to 3.5%
Defying anxiety about a possible recession and raging inflation, America's employers added a stunning 528,000 jobs last month, restoring all the jobs lost in the coronavirus recession. Unemployment fell to 3.5%, lowest since the pandemic struck in early 2020. July's job creation was up from 398,000 in June and the most since February.
The red-hot jobs numbers from the Labor Department on Friday arrive amid a growing consensus that the US economy is losing momentum. The US economy shrank in the first two quarters of 2022, an informal definition of recession. But most economists believe the strong jobs market has kept the economy from slipping into a downturn.
Oil slides amid recession fears, slow recovery in China imports
Oil prices dropped on Monday, hovering near multi-month lows, as recession fears hurt demand outlook and data pointed to a slow recovery in China's crude imports last month.
Brent crude futures dropped 74 cents, or 0.8%, to $94.18 a barrel by 0039 GMT. Front-month prices hit the lowest levels since February last week, tumbling 13.7% and posting their largest weekly drop since April 2020. US West Texas Intermediate crude was at $88.34 a barrel, down 67 cents, or 0.8%, extending losses after a 9.7% fall last week.
28 companies secure Sebi's clearance to float IPOs worth Rs 45,000 crore in Apr-Jul FY23
Results on August 8
The following will be in focus ahead of June quarter earnings on August 8: Bharti Airtel, Adani Ports and Special Economic Zone, Power Grid Corporation of India, NALCO, Astrazeneca Pharma India, Chemcon Speciality Chemicals, City Union Bank, Delhivery, Dhanlaxmi Bank, Gujarat Narmada Valley Fertilizers & Chemicals, Housing & Urban Development Corporation, JK Tyre & Industries, Jaypee Infratech, Vedant Fashions, Samvardhana Motherson International, Sequent Scientific, Sun Pharma Advanced Research Company, Subex, Torrent Power, and Whirlpool of India.
FII and DII data
Foreign institutional investors (FIIs) net bought shares worth Rs 1,605.81 crore whereas domestic institutional investors (DIIs) net sold shares worth Rs 495.94 crore on August 5, as per provisional data available on the NSE.
Stocks under F&O ban on NSE
The National Stock Exchange has added Balrampur Chini Mills and Delta Corp to the F&O ban list for August 8. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.