Moneycontrol
Jul 14, 2017 07:50 AM IST | Source: Moneycontrol.com

What changed for the market while you were sleeping? 10 things you should know

The Nifty50 is likely to open higher on Friday tracking positive handover from Wall Street. The Nifty50 closed 75 points higher at 9,891 on Thursday.

The Nifty50 is likely to open higher on Friday tracking positive handover from Wall Street. The Nifty50 closed 75 points higher at 9,891 on Thursday.

The index formed a strong bullish candle on the charts but it is now approaching key resistance levels of 9900 and 10,000; hence, some sort of profit booking cannot be ruled out.

The RSI is trading above 70 levels which indicated overbought zone but MACD and Supertrend indicator are both in favour of bulls. Investors can remain long on the index with a stop below 9,800.

The index has to continue to hold 9,850 zone to witness an up move towards 9,950-10,000 zones while on the downside supports are seen at 9,820 then 9,750 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 higher

US markets ended higher and the Dow hit another record high close, with financials rising ahead of profit reports due Friday from several big U.S. banks.

Quarterly earnings kick off on Friday with three of the biggest U.S. banks including JPMorgan Chase, Wells Fargo, and Citigroup reporting results, said a Reuters report.

The Dow Jones Industrial Average rose 20.95 points, or 0.1 percent, to 21,553.09, the S&P 500 gained 4.61 points, or 0.19 percent, to 2,447.86 and the Nasdaq Composite added 13.27 points, or 0.21 percent, to 6,274.44.

SGX Nifty

The Nifty50 futures on the Singapore Stock Exchange were trading 4.5 points higher at 9,898 indicating a flat opening for the domestic market.

Infosys Q1 results:

Infosys' profit is seen falling 4.9 percent sequentially to Rs 3,426 crore and revenue may slip 0.6 percent to Rs 17,014 crore in the quarter ended June 2017, according to an average of estimates of analysts polled by CNBC-TV18.

TCS Q1 results:

The net profit during the quarter ended June fell by 10.1 percent on a quarter-on-quarter (QoQ) basis to Rs 5,945 crore which was below CNBC-TV18 analyst poll of Rs6,195 crore. Total revenue declined 0.2 percent on a QoQ basis to Rs 29,584 crore from Rs 29,642 while rose marginally by about 1 percent on a YoY basis.

Yellen says 3 percent US growth 'quite challenging'

It would be "quite challenging" for the United States to reach the 3 percent growth target set by President Donald Trump, Federal Reserve Chair Janet Yellen told a Senate panel on Thursday in a hearing focused on regulatory reform and a discussion of lagging productivity said a Reuters report.

Trump has pledged to boost annual growth to 3 percent, the average for much of the last 70 years, and predicated an earlier tax plan on reaching that figure, it said.

ECB to announce winding down of bond purchases

The European Central Bank is likely to signal in September that its 2.3 trillion euros bond-buying program would be gradually wound down next year, Reuters said in a report quoting the Wall Street Journal reported on Thursday.

Financial markets overwhelmingly expect the ECB to decide in September on the future of its stimulus policy beyond the end of this year, with analysts split between those who expect a one-off reduction and a definitive tapering of the program, it said.

Rupee closes at 3-week low against USD

The Indian rupee on Thursday closed at 64.44 to the dollar, 0.15 percent stronger than its previous close and a 3-week high, as a record low headline inflation and lower-than-expected industrial output data increased traders’ expectation of a rate cut from the Reserve Bank of India.

Intraday, the rupee touched a high and low of 64.39 and 64.47, respectively. Dealers said that both state-owned and foreign banks were seen selling the dollar in favour of the rupee throughout the session.

Sebi slaps Rs 12 lakh fine on Kwality Ltd

Markets regulator Sebi on Thursday imposed a total penalty of Rs 12 lakh on Kwality Limited and its five promoters for allegedly violating disclosure norms.

The promoters are Sanjay Dhingra, Gulshan Dhingra, Naresh Dhingra, Krishan Dhingra and Kanika Dhingra, according to a Sebi order.

US dollar steadies while Crude oil rises

The Australian and New Zealand dollars were the biggest beneficiaries of the second day of gains for stock markets on Thursday, comments by U.S. Federal Reserve Chair Janet Yellen bolstering a global rally that dates back 7 years, said a Reuters report.

The dollar index fell 0.02 percent, while the euro slid 0.06 percent to USD 1.1403. The Japanese yen weakened 0.09 percent versus the greenback at 113.24 per dollar.

Oil prices rose after dropping in recent weeks. Brent crude rose 68 cents to settle at USD 48.42 a barrel. US light crude settled up 59 cents at USD 46.08.

6 stocks under ban period on NSE

Security in ban period for the next trade date under the F&O segment includes companies in which the security has crossed 95 percent of the market-wide position limit.

Securities which are banned for trading today include names like HDIL, Indiabulls Real Estate, Jaiprakash Associates, JSW Energy, Kaveri Seeds and Ujjivan.
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