A look at top cues from domestic and international cues that could have a bearing on D-Street.
The Nifty opened at 10,088 and rose to an intraday high of 10,104 but then bears took control of the index and pushed the index lower to touch its intraday low of 10,033. Nifty finally closed 74 points lower at 10,044. The Nifty breached its crucial 100-days moving average after two months as selling pressure weighed on investor sentiments after RBI maintained the status quo.
The Nifty closed at 10,044.1 on Wednesday. According to Pivot charts, the key support level is placed at 10,016.87, followed by 9,989.63. If the index starts to move higher, key resistance levels to watch out are 10,087.77 and 10,131.43.
The Nifty Bank closed at 24,851.8. Important Pivot level, which will act as crucial support for the index, is placed at 24,751.13, followed by 24,650.46. On the upside, key resistance levels are 25,014.93, followed by 25,178.07.
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 end lower
A gauge of global stocks fell on Wednesday and benchmark government bond yields declined as investors weighed signs of risk in the markets and with US policy.
The Dow Jones Industrial Average fell 39.73 points, or 0.16 percent, to 24,140.91, the S&P 500 lost 0.3 points, or 0.01 percent, to 2,629.27 and the Nasdaq Composite added 14.16 points, or 0.21 percent, to 6,776.38, Reuters reported.
Asia shares hover near 2-month low
Asian shares held close to a two-month low on Thursday as softer oil and copper as well as US policy uncertainty kept sentiment in check. MSCI’s broadest index of Asia-Pacific shares outside Japan was barely changed in early trade. Japan's Nikkei gained 1.2 percent after having suffered its biggest fall since late March on Wednesday, Reuters reported.
The Nifty50 futures on the Singapore Stock Exchange were trading 3.5 points higher at 10075 indicating a flat opening for the domestic market.
Recapitalisation to eradicate boom-and-bust lending cycles in PSBs: RBI Chief
Reserve Bank Governor Urjit Patel said the planned Rs 2.11-trillion fund infusion for state-run banks is not only a recapitalisation package but to ensure that the seeds of the boom-and-bust-lending cycle are not sown in future.
North Korea must halt all testing for talks: US Ambassador
The US would be ready to talk with North Korea if it renounced further nuclear or missile tests and followed through on the pledge, US Ambassador to China Terry Branstad said. He also said that sanctions against North Korea were starting to have an impact, Bloomberg reported.
US fiscal loosening could spell ratings action: S&P
Proposed US tax cuts would increase the federal deficit and looser fiscal policy could prompt negative action on US credit ratings unless Washington addresses long-term budgetary issues, the head of sovereign ratings at S&P Global said, Reuters reported.
Bitcoin crosses $12,000 mark
Bitcoin has surpassed its previous record of USD 12,000 to USD 13,033 at 04:20 pm on Wednesday, according to the website coinmarketcap. The exchange rate for the cryptocurrency has grown over 20 percent in a week's time.
BSE resolves 277 complaints against firms in Nov
BSE resolved 277 investor complaints against 233 listed companies in the month of November, the exchange said. It settled 268 complaints against active companies and nine against suspended firms.
Companies with pending investor complaints are Vatsa Corporation, Geodesic (27), Indo-French Biotech Enterprises (19), Hindustan Development Corporation (17), Malvika Steel (17), Serene Industries (16), J K Pharmachem (16), Kunal Overseas (15), Ransi Softwares India (13) and Continental Construction (13).
Future Supply Chain IPO subscribed 32% on Day 1
The initial public offer of Future Supply Chain Solutions was subscribed 32 percent on the first day of the bidding on Wednesday. The public issue, which targets to garner Rs 650 crore, received bids for 21.66 lakh shares against the issue size of over 68.49 lakh scrips, a subscription of 32 percent, latest update with the National Stock Exchange (NSE) showed.
Shalby IPO subscribed 46% on Day 2
The initial public offer of Shalby Ltd, the Ahmedabad-based multi-specialty hospital chain, was subscribed 46 percent as on the second day of the bidding on Wednesday.
The IPO, which aims to raise Rs 504 crore, received bids for over 66 lakh shares as against the total issue size of 1.45 crore - a subscription of 46 percent - data available with the National Stock Exchange (NSE) showed.
Insolvency resolution: Top 5 steel firms need to pay Rs 29K cr to bid
Promoters of five steel majors undergoing insolvency resolution will have to cough up a total of at least Rs 29,000 crore to be eligible to submit bids and retain their companies.
According to steel companies, which have had discussions on this issue with lenders, the overdue includes the principal in default along with interest which has not been paid unless the lenders have recalled the entire loan, Business Standard reported.
Govt sets up panel to address NPAs in the power sector
The government has set up a high-level committee headed by NITI Aayog chief executive Amitabh Kant to address the problem of stressed assets in India's power sector, said two people aware of the matter.
Non-performing assets (NPAs) in power generation accounted for around 5.9 percent of the banking sector’s total outstanding advances of Rs 4.73 trillion, according to the second volume of the Economic Survey 2016-17 released in August, Mint reported.
P-notes investment rises to Rs1.31 trillion in Oct
Investments in the Indian capital market through participatory notes climbed to Rs1.31 trillion at October-end after hitting an over eight- year low in the preceding month.P-note investments were on a decline since June and hit over eight-year low in September. This was in view of stringent norms put in place by the Sebi.