A list of important headlines from across news agencies that could help in your trade today.
The Nifty witnessed some profit booking at higher levels but managed to recoup losses and closed below the opening level making a ‘Hanging Man’ kind of pattern on charts.
The Index which opened at 10,652 rose marginally to an intraday high of 10,655 which resulted in insignificant upper shadow, but bears quickly took control and pushed the index towards 10,592 which made a long lower shadow on the daily charts.
The Nifty closed at 10,632.20 on Wednesday. According to Pivot charts, the key support level is placed at 10,598.1, followed by 10,564. If the index starts to move higher, key resistance levels to watch out are 10,660.9 and 10,689.6.
The Nifty Bank closed at 25,617.30 on Wednesday. Important Pivot level, which will act as crucial support for the index, is placed at 25,524.01, followed by 25,430.7. On the upside, key resistance levels are 25,714.11, followed by 25,810.9.
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 fall on China, NAFTA concerns
The three major U.S. stock indexes ended lower on Wednesday after a choppy trading session as investors worried that China would slow U.S. government bond purchases and that U.S. President Donald Trump would end a key trade agreement.
The Dow Jones Industrial Average fell 16.67 points, or 0.07 percent, to 25,369.13, the S&P 500 lost 3.06 points, or 0.11 percent, to 2,748.23 and the Nasdaq Composite dropped 10.01 points, or 0.14 percent, to 7,153.57, Reuters reeported.
Asian markets decline
Major Asian indexes declined on Thursday following the softer lead from Wall Street. Investors in the region also focused on quarterly releases as Japanese corporates kicked off earnings season. The Nikkei 225 declined 0.26 percent after the dollar tumbled against the yen in the last session while the Kospi edged lower by 0.21 percent, CNBC reported.
Trends on SGX Nifty indicate a negative opening for the broader index in India. Nifty futures were trading around 10,618-level on the Singaporean Exchange.
India to be fastest growing economy again in 2018: World Bank
India has enormous growth potential compared to other emerging economies, the World Bank said on Wednesday, as it projected country's growth rate to 7.3 percent in 2018 and 7.5 for the next two years.
TCS will declare its results post market hours today
Tata Consultancy Services will be the first bigger company to announce earnings for October-December quarter on Thursday. The stock price rallied nearly 4 percent on Wednesday ahead of numbers.
Profit for October-December quarter is expected to be flat at Rs 6,460 crore against Rs 6,446 crore in previous quarter, according to average of estimates of analysts polled by CNBC-TV18.
Financial bids for all 12 large NPA accounts by month-end: SBI
State Bank of India expects financial bidding process for resolution of 12 big stressed accounts to be over by the end of this month, the bank said. "Financial bids of Electrosteel and Monnet Ispat have already come. We hope to receive bids for remaining cases during this month itself," SBI Chairman Rajnish Kumar said.
US crude hits 3-year high, Brent hits $69
Oil prices edged higher on Tuesday, with US crude touching its highest since December 2014, supported by OPEC-led production cuts and expectations that US crude inventories have dropped for an eighth week in a row.
Brent crude ended the session up USD 1.04, or 1.5 percent, at USD 68.82 per barrel after hitting a session high of $69.08, its highest since May 2015, Reuters reported.
BSE and NSE to launch new IRF contracts from today
BSE and NSE will launch a new interest rate futures (IRF) contracts offering 7.17 percent yield on government bonds, from Thursday. The 10-year-bencmark bonds would mature on January 8, 2028, BSE and NSE said in separate circulars.
Banks, primary dealers, mutual funds, insurers, FIIs, corporates and brokers, as well as retail investors trade in this product.
SEBI bans SBS Investments, two others from markets
SEBI has banned SBS Investments and its two partners from the securities market for at least four years and directed them to refund the money it had collected illegally from the investors.
According to a SEBI order dated January 9, SBS had solicited money from at least 47 clients and invested them in securities and promised to share the profits received while doing its portfolio management service. The firm owes around Rs 65 lakh to its investors.
US 10-year yields highest since March on China bond holdings fears
US Treasury yields jumped to 10-month highs on Wednesday after Bloomberg News reported that Chinese officials have recommended the country slow or halt its purchases of the U.S. bonds.
China is the largest foreign holder of US government debt, with USD 1.19 trillion in Treasuries as of October 2017, according to the Treasury Department, Reuters reported.
Lawyer moves Calcutta High Court, seeks regulation of bitcoin
A lawyer in Kolkata has knocked the doors of the Calcutta High Court asking it to intervene to regulate the flow of bitcoin in India. The PIL filed by advocate Bivas Chatterjee last week alleged that drug trafficking, ransomware, extortion and other unlawful activities are being facilitated by use of cryptocurrencies, said a report in The Indian Express.
Q3 earnings to watch today
5Paisa, Bajaj Corp, IndusInd Bank, Shree Cements, TCS and Sintex Plastics Technology Ltd. are some of the many companies which are likely to declare their Q3 numbers today.
Apollo Micro Systems IPO subscribed 2.14 times on Day 1
The initial public offer (IPO) of Apollo Micro Systems, which caters primarily to the defence and aerospace sectors, was subscribed 2.14 times on the first day of bidding on Wednesday.
The IPO, to raise Rs 156 crore, received bids for 88,60,500 shares against the total issue size of 41,44,955 shares, data available with the NSE showed.
NCLT nod to initiate insolvency against Bhushan Energy
The National Company Law Tribunal (NCLT) has directed initiating insolvency proceedings against Bhushan Energy Ltd after admitting a plea from the country's largest lender State Bank of India.
Amber Enterprises Rs 600-cr IPO to open on Jan 17
Appliance maker Amber Enterprises India will open its Rs 600-crore initial public offering on January 17, with a price band at Rs 855-859 per share. The book running lead managers to the offer are Edelweiss Financial Services, IDFC Bank, SBI Capital Markets and BNP Paribas.
Sebi bars Price Waterhouse from auditing listed firms for two yearsSebi late on Wednesday barred Price Waterhouse from auditing listed companies in the country for two years, after a probe into a nearly decade-old accounting fraud case in a software services company that became India’s biggest corporate scandal, Reuters reported.