What changed for market while you were sleeping: 14 things you should know

The Nifty50 is likely to open flat on Monday tracking mixed handover from Wall Street. The Nifty50 closed 6 points lower at 10,014 on Friday.

The Nifty50 closed flat but well above its crucial support level of 10,000 last week. Despite closing in negative territory, the index made a bullish candle and formed a ‘Hammer’ like pattern on the daily candlestick charts.

The index bounced back from its 10-days exponential moving average (DEMA) placed at 9943 levels to close above 5-DEMA at 9,991. For the index to hold momentum in the coming week, it has to stay above 9,950-9,980 levels.

The index has to hold above 9,980 zone to witness an up move towards 10100 then 10250 while on the downside supports are seen at 9,950 and 9,928 mark.

Stay tuned with Moneycontrol to find out what happens in currency and equity markets today. We have collated a list of important headlines from across news agencies:

Wall Street ends mixed:

US stocks ended mixed on Friday with Dow ending at a record closing highs. Wall Street ended lower on negative reactions to earnings reports from high-profile names such as Amazon, Exxon and Starbucks and a drop in shares of tobacco companies, said a Reuters report.

Despite Friday's share reactions, results overall have come in better than expected for the second quarter and stocks are trading near record highs.

The Dow Jones Industrial Average rose 33.76 points, or 0.15 percent, to 21,830.31, the S&P 500 lost 3.32 points, or 0.13 percent, to 2,472.1 and the Nasdaq Composite dropped 7.51 points, or 0.12 percent, to 6,374.68.

SGX Nifty

The Nifty50 futures on the Singapore Stock Exchange were trading 18 points higher at 10,053 indicating a flat opening for the domestic market.

Security and Intelligence Services' IPO to open on Monday

The company’s initial public offering (IPO) will open on July 31, 2017, and close on August 2, 2017. At a price band of Rs 805-815 apiece, the funds raised will be used for repayment and pre-payment of a portion of outstanding debt.

The IPO comprises a fresh issue of shares worth Rs 362.25 crore and an offer for sale of up to 51,20,619 shares by existing shareholders.

Brokerages have largely highlighted the strong business model of the company along with the presence in the organised sector in this space.

North Korea fires possible missile, could land off Japan

Japan's prime minister says North Korea has fired what is believed to be a missile and it may have landed in the sea off Japan, said a Reuters report.

Prime Minister Shinzo Abe told reporters that officials are analysing the apparent launch and that he has called a meeting of the National Security Council.

In Washington, a Pentagon spokesman, Navy Capt Jeff Davis, confirmed that a launch of a ballistic missile from North Korea had been detected.

Oil hits two-month high

Oil ended its strongest week this year with a surge on Friday, built on receding fears of oversupply, as US crude came within striking distance of $50 a barrel for the first time since the end of May, said a Reuters report.

Brent crude futures settled at $52.52 a barrel, up 2 percent, or $1.03 a barrel, after reaching a two-month high of $52.68 a barrel earlier in the day. The gains in Brent pushed the difference between the two benchmarks to the widest in two months, it said.

US second quarter GDP meets expectations

U.S. GDP growth picked up to 2.6 percent in the second quarter, matching expectations of economists polled by Reuters, while growth in the first quarter was revised down to 1.2 percent.

U.S. flies bombers over Korean peninsula

The United States flew two supersonic B-1B bombers over the Korean peninsula in a show of force on Sunday and the U.S. ambassador to the United Nations said China, Japan and South Korea needed to do more after Pyongyang's latest missile tests, said a Reuters report.

North Korea said it conducted another successful test of an intercontinental ballistic missile (ICBM) on Friday that proved its ability to strike America's mainland, drawing a sharp warning from U.S. President Donald Trump, it said.

Dollar down despite strong US GDP data

The U.S. dollar was broadly lower as a combination of uninspiring U.S. economic data and political uncertainty kept traders biased toward the euro and other world currencies, said a Reuters report.

The euro and other major currencies rose against the dollar after the release of U.S. second-quarter gross domestic product estimate that largely met economists' expectations, it said.

IMF says dollar overvalued; euro, yen, yuan broadly in line

The International Monetary Fund on Friday said that the U.S. dollar was overvalued by 10 percent to 20 percent, based on U.S. near-term economic fundamentals, while it viewed valuations of the euro, Japan's yen, and China's yuan as broadly in line with fundamentals.

Snapdeal-Flipkart deal falling apart

A crucial meeting to settle the proposed merger of beleaguered online marketplace Snapdeal with market leader Flipkart, due to take place in Bengaluru over Monday and Tuesday, has been called off, ET reported quoting three people who were aware of the developments.

The deal now appears to be falling apart after six months of hard negotiations. A call between the key stakeholders was expected on Sunday night, and a potential public announcement on the fate of the deal could be made as early as Monday.

RCom, Aircel merger deal on sticky ground

The proposed merger of Reliance Communications wireless business and Aircel is clouded with more uncertainty with the Department of Telecommunications setting the Supreme Court's go-ahead a condition for it to approve the deal, said an ET report.

The department, though, is close to clearing the merger of Sistema's Indian business with RCom, it said quoting people who were aware of the process said.

92 companies to report Q1 results today: Bharat Electronics, Interglobe Aviation, Trent

As much as 92 companies on the BSE will be declaring their results for the quarter ended June 30 later today which include names like Balrampur Chini, Bharat Electronics, Interglobe Aviation, Jaypee Infratech, Jaiprakash Ventures, Reliance Power, Siemens, Sintex Industries, Torrent Pharma, Trent, UPL Ltd, and V-Guard Industries among others.

Draft of new telecom policy by December end

The government has got down to the job of framing the new telecom policy and a draft one should be ready by the end of December, Telecom Secretary Aruna Sundararajan said. "Working groups to draft the policy are being set up as we speak," she said.

The Department of Telecom (DoT) last week kick-started the consultation process by meeting operators, infrastructure providers, industry associations and standards bodies.

HDFC clears 9.57% stake dilution in subsidiary HDFC Life

HDFC will sell 9.57% stake in HDFC Life through an IPO in the coming months, becoming the third major life insurer to list on stock markets. The company has approved the sale of 19,12,46,050 shares, it said in a notice to BSE on Friday night, said an ET report.

British insurer Standard Life, which owns 35% in the insurance JV, is also expected to sell a portion of its shares. The announcement follows last week’s decision by the HDFC Life board to sell up to 20% of its equity in a public offering.