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Feb 12, 2018 07:49 AM IST | Source: Moneycontrol.com

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

A list of important headlines from across news agencies that could help in your trade today.

Sandip Das @Im_Sandip1

The Nifty 50 which started with a gap down opening on Friday morning recouped some of its losses and closed significantly higher, making a bullish candle on intraday charts. However, on weekly basis, it has formed a small bearish candle.

The Nifty which opened at 10,416, slipped to an intraday low of 10,398. It bounced back after hitting its 100-DMA to close the week 121 points lower at 10,454.

According to Pivot charts, the key support level is placed at 10,408.73, followed by 10,362.47. If the index starts to move higher, key resistance levels to watch out are 10,490.73 and 10,526.47.

The Nifty Bank closed at 25,463.65, down 1.76 percent. Important Pivot level, which will act as crucial support, is placed at 25,357.03, followed by 25,250.37. On the upside, key resistance levels are 25,584.33, followed by 25,704.97.

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 higher but posts worst week in two years

US stocks ended a wild week with a burst of buying, pushing the S&P 500 up 1.5 percent on Friday, but still recorded their worst week in two years, and investors braced for more volatile trading days ahead.

The Dow Jones Industrial Average rose 330.44 points, or 1.38 percent, to 24,190.9, the S&P 500 gained 38.55 points, or 1.49 percent, to 2,619.55, and the Nasdaq Composite added 97.33 points, or 1.44 percent, to 6,874.49, Reuters reported.

Asian markets trade mixed after Wall Street's Friday rebound

Asian markets were mixed early on Monday while oil prices edged up after recording six straight days of declines. South Korea's Kospi advanced 0.54 percent, with heavily weighted technology stocks higher in the morning. Japan's Nikkei 225 closed lower by 2.32 percent in the previous session and was down 11.38 percent from its 52-week high as of Friday, CNBC reported.

Also Read: Trade setup for Monday: Top 15 things you should know before Opening Bell

SGX Nifty

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 33 points or 0.32 percent. Nifty futures were trading around 10,490-level on the Singaporean Exchange.

Bourses to halt offshore trading: Foreign investors face tax hit, forex risks

A move by Indian exchanges to stop licensing its products and data to bourses abroad will likely force foreign investors into a tough option: migrate their trading onshore to India, with its uncertain regulatory environment and higher taxes, or give up their exposure to a hot emerging market.

For foreign investors, trading derivatives in India's exchanges means paying higher taxes and factoring in currency risks for rupee-based contracts. India also requires all foreign investors to register with regulators.

Singapore to open trading in Indian products as per normal

In its continuing assurances to traders, Singapore Exchange said its entire India suite of products, including Nifty, will open and operate per normal today. This comes after the Indian Exchanges on February 9 announced a decision to stop the commercial licensing of their indices and market data with a number of foreign exchanges and other business partners.

"Our licence agreement with NSE will ensure the continuity of listing and trading our Nifty suite of derivative products till August 2018 at a minimum," said SGX in the statement.

Inflation to moderate to 5% in Jan: Morgan Stanley

Retail inflation is expected to moderate and print at 5 per cent after rising consecutively for five months, helped largely by seasonal dip in vegetable prices, while trade deficit is also likely to improve, in January, says a foreign brokerage in a report.

Interestingly, while Morgan Stanley sees improvement in both inflation and trade deficit numbers in January, it has flagged concern that "moderate risks to macro stability are emerging on account of the wider-than-targeted fiscal deficits".

SBI wrote off bad loans worth over Rs 20K cr last fiscal

SBI wrote off bad loans worth Rs 20,339 crore in 2016-17, the highest among all the public sector banks, which had a collective write off of Rs 81,683 crore for the fiscal.

Besides SBI, Punjab National Bank had a write-off of Rs 9,205 crore in 2016-17, followed by Bank of India (Rs 7,346 crore), Canara Bank (Rs 5,545 crore) and Bank of Baroda (Rs 4,348 crore). In the current financial year, PSBs have written off loans worth Rs 53,625 crore in the six months to September.

FPIs take out Rs 3,800 crore in just 7 trading days

Foreign investors pulled over Rs 3,800 crore from the Indian stock markets in the last seven trading sessions mainly on account of a global sell-off.

"We believe the FPI pull out in the last few days is simply on account of a global sell-off. This comes on the back of strong wage numbers in the US and a risk of higher inflation and a consequent faster Fed rate hike," said Vidya Bala, head of mutual fund research at Fundsindia.com.

M-cap of top 10 companies erodes by over Rs 1 lakh cr

The combined market valuation of the 10 most valued Indian companies slumped by Rs 1,11,986.87 crore last week, with Tata Consultancy Services (TCS) taking the steepest hit.

HDFC Bank's valuation dropped Rs 24,935.67 crore to Rs 4,80,206 crore and that of HDFC slumped Rs 20,733.18 crore to Rs 2,83,336.41 crore. The m-cap of Hindustan Unilever (HUL) plunged Rs 8,073.5 crore to Rs 2,89,044.47 crore.

Rupee slips to near 2-month low on capital outflow fears

The rupee on Friday fell 14 paise against the greenback to end at a near two-month low of 64.40 on bouts of dollar demand from importers and banks. Foreign investors remained net sellers and sold shares worth Rs 2,297 crore on net basis yesterday, as the turmoil in global stock markets saw traders shun equities in favour of perceived safe havens.

566 companies to report results for December quarter today

As many as 566 companies are likely to report Q3 numbers including Bank of India, BF Utilities, Corporation Bank, Eris Lifesciences, Future Enterprises, Gail India, Hathway Cable, Indian Bank, Jindal Stainless, Jyoti Structures, MMTC, Omaxe, Rajesh Exports, Ruchi Soya, Tamil Nadu Newsprint, United Bank of India, and Zuari Agro among others.

Aster DM Healthcare IPO to open today

Aster DM Healthcare, is set to open its issue for subscription today with a price band of Rs 180-190 per share. The initial public offering of Aster DM consists of a fresh issue of up to Rs 725 crore and an offer for sale of up to 1,34,28,251 equity shares by the promoter, Union Investments Private Limited.

Kotak Mahindra Capital Company, Axis Capital and Goldman Sachs (India) Securities are the global co-ordinators and book running lead managers to the offer. ICICI Securities, JM Financial & YES Securities (India) are the book running lead managers to the issue.
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