Market Ahead Podcast, August 20: Top factors that could guide markets today

The ripples of a global market crash are likely to be felt by the Indian indices today as they open for trading after a one-day hiatus. Growth concerns amid the spread of Delta variant and US Federal policy minutes that signal a reduction of its bond-buying program in 2021 are among key factors spooking global markets. Adjusted SGX Nifty was down 220 points at 16,342 around 7.35 am.

In the overnight session, Wall Street ended the volatile session on a mixed note. Overall, the Dow Jones Industrial Average fell 0.19%, the S&P 500 gained 0.13% and the Nasdaq Composite added 0.11%.

Meanwhile, equities slid in Japan, Hong Kong and China, where Beijing is deepening a crackdown on private industry. US futures retreated after modest S&P 500 and Nasdaq 100 gains during a choppy overnight session. Japan’s Topix index shed 0.5%, South Korea’s Kospi index was up 0.9% and Hong Kong’s Hang Seng index slid 1.1%. S&P futures were down 0.3%.

In the commodities market, oil prices came off three-month lows but were on track for a weekly decline of around 6% as lockdowns in countries facing surging cases of the Delta variant dimmed the outlook for fuel demand.

Brent crude futures rose 27 cents or 0.4% to $66.72 a barrel after dropping 2.6% on Thursday to its lowest close since May.

Now, a look at stock-specific triggers that are likely to sway the market today.

Shares of CarTrade Tech will list on the exchanges today. The company's IPO had garnered strong response from investors with 20 times subscription. The final issue price is at Rs 1,618 per share.

HDFC Bank on Thursday said it has raised $1 billion in its maiden AT1 bond issue from global investors at a tight pricing, in a deal that will help allay fears over the capital raising instrument for lenders in the country.

Vodafone Idea Ltd (VIL) on Thursday said it has paid licence fee dues for the first quarter of 2021-22. The comment came amid a report that the troubled telco -- which is struggling to stay afloat -- fell Rs 150 crore short on payment of licence fee for the June quarter.

Government of Singapore and Monetary Authority of Singapore on Wednesday purchased shares worth over Rs 782 crore in AAVAS Financiers Ltd, through open market transactions. In a separate deal, 49.54 lakh shares, worth over Rs 1,215 crore, of the firm were offloaded by its promoter Lake District Holdings.

Zomato acquired 9.16% shareholding in Grofers India for Rs 518.21 crore and 8.94% shareholding in Hands-on Trades for Rs 222.83 crore.