What happened overnight? US selling pressure arrested, market closes with mild losses
US earnings score card: Apple beat expectations in both earnings and sales. However, the Apple stock fell 2 percent after the CFO said the tech firm's revenue is likely to decline in the September quarter. On another note, Amazon reported strong earnings. Its stock was up 9 percent after better-than-expected profit and positive guidance. Meanwhile, Airbnb said its nights and experiences booking grew at a slower rate than expected.
All eyes on US jobs data today for further insights on strength of the labour market and economy. Economists polled by Dow Jones expect non-farm payrolls to grow by 200,000 in July
Big question — Will market bounce back after a two-day fall? Another big question is should you buy the dips? Selling by Foreign institutional investors (FIIs) reduced. FIIs sold Rs 317 crore on Thursday, domestic institutional investors bought Rs 1,729 crore.
SBI, Mahindra & Mahindra, Britannia, BHEL will be reporting their earnings today. Eicher Motors reported strong earnings — top down beat, margin were above estimates. Bharti Airtel reported a beat in earnings with India average revenue per user hitting Rs 200.