A look at top cues from domestic and international cues that could have a bearing on D-Street.
The bulls managed to pick up momentum as the Nifty closed above its crucial resistance level of 10,300 on Tuesday but lost steam towards the closing of the trading day.
The Nifty closed at 10,349.3 on Tuesday. According to Pivot charts, the key support level is placed at 10329.8, followed by 10,310.3. If the index starts to move higher, key resistance levels to watch out for are 10,362.8 and 10,376.3.
Nifty Bank closed at 25,800.4 on Tuesday. Important Pivot level, which will act as crucial support for the index, is placed at 25,773.03, followed by 25,773.03. On the upside, key resistance level is 25,849.43 followed by 25,898.46.
Stay tuned to Moneycontrol to find out what happens in currency and equity markets today. We have collated a list of important headlines from across news agencies:
US markets hit record highs
US stocks jumped on Tuesday, pushing all three major indexes to record closing highs, led by gains in this year’s top-performing technology sector.
The Dow Jones Industrial Average rose 160.5 points, or 0.69 percent, to 23,590.83, the S&P 500 gained 16.89 points, or 0.65 percent, to 2,599.03 and the Nasdaq Composite added 71.76 points, or 1.06 percent, to 6,862.48, Reuters reported.
Asian markets trade higher following global cues
Asia markets rose in early trade on Wednesday, taking overnight cues from Wall Street. Australia's ASX 200 was up 0.4 percent, with most sectors advancing. Japan's Nikkei 225 gained 0.98 percent in early trade, while the Topix was up 0.59 percent. In South Korea, the Kospi rose 0.85 percent, CNBC reported.
The Nifty50 futures on the Singapore Stock Exchange were trading 25.5 points higher at 10382 indicating a positive opening for the domestic market.
BOJ hints on lift-off with warnings on the costs of easing
The Bank of Japan hints that it could edge away from crisis-mode stimulus earlier than expected, through a future hike in its yield target, according to sources with the central bank.
With inflation still way below its 2 percent target, the BOJ sees no immediate need to withdraw stimulus, and regards weak price growth as its most pressing policy challenge, Reuters reported.
SEBI asks for trading data as it probes WhatsApp messages: Source
SEBI has asked for trading data on companies about prescient messages on company earnings in social media chatrooms, a person familiar with the matter told Reuters on Tuesday.
The Reuters investigation documented at least 12 cases of prescient messages about major Indian companies being posted in WhatsApp groups limited largely to traders and market insiders, Reuters reported.
Bad loan sales to ARCs must be in 100% cash: Arcil chief
Banks will be able to shave off Rs 2.5 lakh crore worth of assets by January or March, said Vinayak Bahuguna, CEO and MD of Arcil (Asset Reconstruction Company (India).
Bahuguna believes there should be a greater scope for new investors to enter and provide additional funding to companies under the IBC. He adds that that sale of NPAs to asset reconstruction companies should be in 100 percent cash.
Govt to target benami deals via mandatory Aadhaar linkage with property deals
After demonetisation, RERA and GST, the government is firming up plans to make mandatory linking Aadhaar to property transactions. Union Housing and Urban Development Minister Hardeep Puri said large-value transactions such as those made in property can definetely be monitored.
Trai suggests easing spectrum holding norms for telcos
Telecom regulator Trai on Tuesday recommended doing away with caps on spectrum holding in individual bands, and also mooted relaxing the overall ceiling. It said that the current limit allowing an operator to hold up to 50 percent of the total spectrum available within a band in a zone should be removed.
FMCG firms slash prices post GST reduction
FMCG companies, including ITC, Dabur, HUL and Marico, on Tuesday said they have cut prices of various products to pass on the benefits of GST rate reduction to end-consumers.
Govt may seek cabinet nod to amend insolvency, bankruptcy code
The government is likely to seek cabinet approval for amending the insolvency and bankruptcy code (IBC) to streamline the process of selecting buyers of stressed assets. It is aimed at preventing promoters who are wilful defaulters or have a history of fraud from buying companies cheap, Livemint reported.
GST return filings for Oct rise 11%
Taxpayer compliance under the goods and services tax (GST) system is steadily improving with 4.4 million assesses filing summary of the transactions made in October, an improvement of 11 percent from the filings reported for the previous month, said an official statement from GSTN.
Around 56 percent of the registered taxpayers have filed their GSTR-3B returns for October by 20 November, Livemint reported.
Govt plans GST sops for digital paymentsThe Centre has proposed a two percentage point discount in the goods and services tax (GST) for consumers who make digital payments. The proposal is likely to be taken up in the next GST Council meeting in January, Business Standard reported.