Moneycontrol
Jul 17, 2017 07:54 AM IST | Source: Moneycontrol.com

What changed for the market while you were sleeping? 12 things you should know

The Nifty50 is likely to open higher on Monday tracking positive handover from Wall Street. The Nifty50 closed 5 points lower at 9,886 on Friday

The Nifty50 is likely to open higher on Monday tracking positive handover from Wall Street. The Nifty50 closed 5 points lower at 9,886 on Friday.

The index formed a Hanging Man kind of pattern for the daily candlestick charts on Friday hinting at a formation of an intermediate top. However, if the index closes with a bullish candle, this pattern will get negated.

The Nifty50 closed below its crucial support level of 9,900 and now a decisive close above this levels is likely to build momentum for bulls whereas a break below 9,850-9,823 could fuel bearish sentiment, suggest experts.

For the momentum to continue, Nifty 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:

Strong handover from Wall Street on Friday:

The US markets ended the week on a high note. The Dow and S&P 500 hit record highs on Friday after weak economic data dulled prospects of more interest rate hikes this year. For the week, the Dow was up 1.1 percent, the S&P 500 was up 1.4 percent, and the Nasdaq rose 2.6 percent.

Data showed consumer prices were unchanged in June and retail sales fell for a second straight month, pointing to tame inflation and subdued expectations of strong economic growth in the second quarter, said a Reuters report.

The Dow Jones Industrial Average was up 84.65 points, or 0.39 percent, to 21,637.74, the S&P 500 gained 11.44 points, or 0.47 percent, to 2,459.27, and the Nasdaq Composite added 38.03 points, or 0.61 percent, to 6,312.47.

SGX Nifty

The Nifty50 futures on the Singapore Stock Exchange were trading 34 points higher at 9,938 indicating a positive opening for the domestic market.

Dollar index slips against basket of currencies:

The dollar fell against a basket of major currencies on Friday, after weaker-than-forecast data on consumer prices and retail sales in June raised doubts about US economic growth and whether the Federal Reserve would raise interest rates again in 2017, said a Reuters report.

The dollar index, which tracks the greenback against six major rivals, was down 0.6 percent to 95.152 after earlier falling to 95.132, its lowest since September 2016.

Oil up 1 percent

Oil prices rose 1 percent boosted as US crude producers added only two rigs in the latest week and on signs of increased Chinese demand, but trading was volatile as global supply remained strong, said a Reuters report.

Brent crude futures, the international benchmark for oil, settled up 49 cents, or about 1 percent, at USD 48.91 per barrel.

Number of PSBs may go down to 12

The government is working on a consolidation agenda with a view to creating 3-4 global-sized banks and reduce the number of state-owned lenders to about 12, an official said.

The 21 public sector banks would get consolidated to 10- 12 in the medium term, the official said.

Rs 8 lakh crore NPAs may face bankruptcy proceedings:

Emboldened by the Banking Regulation (Amendment) Ordinance, the RBI is expected to push for resolution bad loans worth around Rs 8 lakh crore by March 2019, a move that could bring down the NPAs and improve the financial health of banks, a study by Assocham said.

Releasing the report, Assocham Secretary General D S Rawat said it is to be noted that 16-month Asset Quality Review (AQR) exercise that ended in March 2017 pulled out NPAs from the closet and after this deep surgery strong medicine was required to quickly heal the system.

FPIs pour Rs 11,000 crore in July so far:

Foreign investors have pumped in nearly Rs 11,000 crore in the capital markets in the first two weeks of this month, enthused by the trouble-free rollout of GST and stimulating Indian economy.

The latest inflow comes following a net infusion of over Rs 1.62 lakh crore in the previous five months (February-June) on several factors.

Rupee closes unchanged against US dollar

Indian rupee closed unchanged against the US dollar as traders avoided taking long positions ahead of the weekend.

The rupee closed at 64.45 a dollar, unchanged from its Thursday’s close of 64.45. The rupee opened at 64.43 a dollar and touched a high and a low of 64.42 and 64.47 respectively.

17 companies to report Q1 results today:

17 companies will report their results for the quarter ended June on Monday which include names like ACC, Hindustan Media Ventures, Jubilant FoodWorks, Prakash Industries, Sharda Motors Industries, Linde India Ltd among others.

BSE to add 48 companies to Group 'A' from July 17

Leading stock exchange BSE will shift securities of 48 companies including IDFC Bank and InterGlobe Aviation to Group 'A' category, the most tracked segment on the bourse's platform, from July 17.

Aditya Birla Fashion and Retail, Crompton Greaves Consumer, Dr. Lal Pathlabs, Future Retail, GHCL, L&T Technology Services, Lakshmi Vilas Bank, Mahanagar Gas, RBL Bank, Tata Motors Ltd (DVR) and Welspun India are also listed for addition to Group 'A'.

SEBI not keen on extension for clearing naked position of P-notes

Even as the Securities and Exchange Board of India and Finance Ministry are in discussions for extending the time period for unwinding naked position through P-notes, SEBI may not be in favour of extending the time period.

“SEBI is convinced with its decision and may not want to extend the deadline for three months,” a source close to the development told Moneycontrol. SEBI and Finance Ministry discussions are based on the request of foreign bankers for giving some more time to unwind naked position created through P-Notes.

8 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% of the market-wide position limit.

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