Market Ahead, Aug 11: All you need to know before the opening bell

A positive start is on the cards for the Indian markets today on the back of a firm start in Asian indices. The SGX Nifty was trading 50 points higher at around 11,356 levels at 7:25 AM. 

The US stocks ended mixed overnight. The Dow jumped 1 per cent, the S&P 500 inched up and the Nasdaq closed lower. US congressional leaders and Trump administration officials said on Monday they were ready to resume negotiations on a coronavirus aid deal but talks remained deadlocked. Also, in a retaliatory move, China imposed sanctions on 11 US citizens.

Meanwhile, Asian stocks made a strong start on Tuesday. Australian ASX 200 rose 0.54 in early trading while Japan’s Nikkei rose 1.3 per cent and Hong Kong's Hang Seng index gained 1.6 per cent.

In commodities, Brent crude was trading at $45.1 a barrel.

Besides global cues, investors will focus on corporate results and stock-specific developments in today's session while the release of the industrial output data for June, scheduled for today, will also be closely watched.

Bank of Baroda posted a net loss of Rs 864 crore in the June quarter against net profit of Rs 710 crore in the year-ago quarter due to rise in provisions for standard assets, including those under moratorium and government-guaranteed loans.

Similarly, Titan posted a consolidated net loss of Rs 270 crore during the quarter as compared to a net profit of Rs 371 crore in the year-ago quarter. Titan's revenue also declined 62 per cent YoY to Rs 1,862 crore.

Today, a total of 90 companies, including RITES, Motherson Sumi, and Metropolis Healthcare, are scheduled to announce their June quarter results.

The count of coronavirus cases in India jumped to 2,267,153, with the country reporting 62,117 new infections on Monday, according to Worldometer. The death toll from the pandemic reached 45,353. 

And, now, a quick look at other top developments -- 

The Supreme Court yesterday adjourned its hearing in the AGR matter to August 14 and asked the Centre to prepare a plan for recovering AGR dues from the bankrupt telecom operators such as Reliance Communications, Aircel, and Videocon Telecommunications. The court, however, did not mention the order reserved on the staggered payment of dues by Vodafone Idea, Bharti Airtel and Tata Teleservices.

 Interglobe Aviation Limited, which runs India's largest airline IndiGo, has said it will raise up to Rs 4,000 crore through the sale of shares to institutional investors, as it looks to manage cash during the Covid-19 pandemic.

Mid-tier IT firm Hexaware Technologies has received nod from its shareholders for de-listing from the stock exchanges. The company's promoters had announced their intent to de-list in June, with the company's board approving the de-listing days later.

Private lender ICICI Bank yesterday launched its qualified institutional placement, setting the floor price at Rs 351.36 per share. The bank plans to raise up to Rs 15,000 crore to support business growth and create a buffer to absorb any shock from the economic disruption caused by the coronavirus pandemic.