Market Ahead, September 3: Top factors that could guide markets today

The Indian markets are likely to open flat to higher, as indicated by the SGX Nifty which was trading flat at around 11,580 levels. In the US, the three major equity indexes moved higher overnight. The Dow Jones rose 1.6 per cent, the S&P 500 gained 1.5 per cent and the Nasdaq added 0.98 per cent.

In Asia, Australian ASX 200 were trading half a per cent higher. Japan's Nikkei was up 0.9 per cent . On the other hand, Hong Kong's Hang Seng index was down 0.9 per cent.

Back home, investors will keep a close eye on developments regarding the India-China dispute. India yesterday banned 118 more Chinese apps, including popular multiplayer game PUBG and search engine Baidu, citing them to be security threats. 

Besides this, market participants will also track SC's hearing on loan moratorium extension, Covid-19 trends and Services PMI data for August which is scheduled to be released later in the day.

The finance ministry and the RBI yesterday told the SC that asking banks to take a hit on interest rates will adversely affect the financial system as well as economic growth. The apex court will hear the matter again today.

On the results front, a total of 47 companies including Page Industries and Jubilant Industries are scheduled to announce their June quarter earnings today.

Coal India yesterday reported a 55 per cent drop in Q1 profit to Rs 2,077.5 crore while revenue came in at Rs 18,487 crore. The stock will react today.

Aviation stocks are likely to trade actively today after the central government permitted Indian airlines to increase the number of passenger flights to 60 per cent of their pre-Covid capacity.

On the Covid-19 front, India yesterday recorded its highest ever one-day record of 82,860 cases in a day, taking its tally to 38.48 lakh, while death toll stood at 67,486, according to Worldometer.

Now, a quick look at other top news.

LIC Housing Finance on Wednesday said it will seek shareholders' approval in the upcoming annual general meeting this month to raise up to Rs 50,500 crore by issuing debt securities or other hybrid instruments on a private placement basis.

Finance Minister Nirmala Sitharaman will today hold a review meeting with heads of banks and NBFCs for smooth and speedy implementation of the one-time debt recast for resolution of Covid-19 related stress in bank loans.

Lenders to DHFL have approached the NCLT to tag Rs 14,046 crore in retail loans as fraudulent after an internal audit found certain transactions of the company to be fraudulent in nature.

Sebi yesterday modified norms pertaining to segregation of portfolio in mutual funds by asset management companies amid the coronavirus pandemic. The latest modifications would be in place till December 31, 2020.