A look at top cues from domestic and international cues that could have a bearing on D-Street.
The Nifty opened at 10,358 rose marginally to intraday high of 10,368.45 before closing the day just above its crucial psychological support level of 10,300 at 10,308.
According to Pivot charts, the key support level is placed at 10,261.17, followed by 10,213.33. If the index starts to move higher, key resistance levels to watch out are 10,362.67 and 10,416.33.
Nifty Bank closed at 25,291.3 on Thursday. Important Pivot level, which will act as crucial support for the index, is placed at 25,176.6, followed by 25,061.9. On the upside, key resistance level is 25,395.6 followed by 25,499.9.
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 end lower dragged by tech stocks
Wall Street stocks dropped on Thursday, weighed down by losses in Microsoft and other technology issues. The Dow Jones Industrial Average lost 0.43 percent to end at 23,461.94, while the S&P 500 declined 0.38 percent to 2,584.62. The Nasdaq Composite dropped 0.58 percent to 6,750.05, Reuters reported.
Asian markets trade lower
Asian shares slipped on Friday on uncertainty about U.S. tax reforms after Senate Republicans unveiled a plan that differed from the House of Representatives’ version in several key areas. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.1 percent while Japan's Nikkei lost 1 percent, Reuters reported.
The Nifty50 futures on the Singapore Stock Exchange were trading 51 points lower at 10326 indicating a negative opening for the domestic market.
GST bonanza for firms, consumers on the anvil
The GST Council is likely to announce relief for consumers and big and small businesses at its meeting in Guwahati on Friday. Small businesses and eateries will also get major relief as the flat GST rate they can pay under a special window called the composition scheme is likely to be cut, Livemint reported.
PF rate cut likely, but equity play may boost returns
Provident fund subscribers are likely to get a lower rate of interest on their retirement corpus this fiscal year, but a senior official said the total returns would be on a par with or more than last time as they stand to gain from the fund’s move to unitise its equity investment, Economic Times reported.
New Delhi declares emergency as toxic smog thickens
The national capital declared a pollution emergency and banned the entry of trucks and construction activity as a toxic smog hung over the city for a third day on Thursday and air quality worsened by the hour.
Illegal crop burning in the farm states surrounding New Delhi, vehicle exhaust emissions in a city with limited public transport and swirling construction dust have caused the crisis, Livemint reported.
IIP data for September to come out on Friday
The IIP data for September will be released on Friday; it remains a crucial component in measuring GDP — the Q2 numbers for which will be released by this month end.
There is widespread expectation that the economy would pick up in the second quarter (Q2) of the current financial year (FY2017-18), compared to the previous three months when gross domestic product (GDP) grew 5.7 percent, Business Standard reported.
HDFC Standard Life IPO subscribed 4.89 times
HDFC Standard Life Insurance Company's initial public offer (IPO) was subscribed 4.89 times on the closing day of bidding on Thursday. The Rs 8,695-crore IPO, received bids for 1,07,50,87,700 shares against the total issue size of 21,97,59,218 shares, according to NSE data till 1915 hrs.
Senate Republicans debut tax plan
US Senate Republicans unveiled a tax plan on Thursday that differed from the House of Representatives’ version on several key fronts, including how they treat the corporate tax rate, the tax deduction for state and local taxes, and the estate tax, Reuters reported.
Jobless claims rise more than expected as hurricane backlog clears
The number of Americans filing for unemployment benefits rose more than expected last week, suggesting that claims processing disrupted by recent hurricanes has begun to improve.
Initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 239,000 for the week ended November 4, the Labor Department said on Thursday, Reuters reported.
Sebi imposes Rs 5 lakh fine on 8 individuals
Markets regulator Sebi on Thursday imposed a total penalty of Rs 5 lakh on eight individuals for violating capital market norms in a matter relating to Taaza International.
The eight individuals include Ramana Bharati, Ramana Boina Shankar, Polsani Ravinder Rao, Sreeram V Mangalapalli, N Venugopal, ARS Rajan, Lakshmi Rajan and Pabbathi Venkata Ravi Kumar. Polsani Ravinder Rao is one of the current promoters of the firm.
Himachal Pradesh records its highest voter turnout at 74%
Himachal Pradesh on Thursday recorded its highest polling in assembly elections with 74 percent of voters exercising their franchise, the Election Commission said on Thursday. The assembly poll results are scheduled to be announced on December 18.
China, US ink $250 billion trade deals
Cash-rich China on Thursday wooed the US by signing deals worth more than USD 250 billion during President Donald Trump's first visit, amidst his criticism of the Communist giant's unfair business practices and the "chronic imbalance" in bilateral trade.
FIIs return to Indian markets
Foreign institutional investors (FIIs) are returning after recent government announcements such as the Rs 2.11 trillion PSU bank recapitalisation plan. FIIs are mainly buying into new shares. Over October and November so far, FIIs have invested a net of USD 1.9 billion in Indian equities. For the year to date, they are buyers to the tune of USD 7.4 billion, Livemint reported.
SEBI to define parameters for putting stocks in Graded Surveillance Mechanism
SEBI is planning to define thresholds which if not met, will lead to stocks being subject to Graded Surveillance Measures. Graded Surveillance Measures are applied to securities which witness an abnormal price rise not commensurate with financial health and fundamentals.
Modi to travel to Philippines for India-ASEAN summit on Nov 14
Prime Minister Narendra Modi will be travelling to the Philippines on November 12 to attend the India-ASEAN and East Asia summits on November 14 during which bilateral trade and investments, as well as other key issues, will be discussed.
258 companies to report Sept quarter results
As many as 258 companies are likely to report results ending September including Allahabad Bank, Bank of India, BEML, BOSH, BPCL, Dena Bank, DLF, HSIL, Jain Irrigations, MMTC, MRF, Muthoot Capital, Nestle India, Novartis, Oil India, SBI, Sun TV, Timkin India etc. among others.
SBI may post Q2 profit at Rs 2,508 cr
State Bank of India is expected to post profit at Rs 2,507.6 crore for the quarter ended September 2017, compared with net loss of Rs 560 crore in year-ago.
Net interest income, the difference between interest earned and interest expended, may grow 5.5 percent to Rs 19,088.7 crore year-on-year, according to average of estimates of analysts polled by CNBC-TV18.
Mahindra Logistics to debut on Nov 10
Mahindra Logistics, the 3rd party logistics (3PL) solutions provider, will list its equity shares on exchanges on November 10. The issue price is fixed at Rs 429 per share.
The subsidiary of Mahindra & Mahindra raised Rs 829.35 crore through the issue, at higher end of price band of Rs 425-429 per share. Out of which, Rs 247 crore had raised from anchor investors.
NSE bans 9 companies from trading
The derivative contracts in DHFL, HDIL, Indiabulls Real Estate, India Cements, Infibeam, Jet Airways, JSW Energy, Jain Irrigation and Reliance Communications have crossed 95 percent of the market-wide position limit and are currently in the ban period.
Rupee extends gains, ends at 64.94 against US dollar
The rupee on Thursday firmed up by a modest two paise to end at 64.94 against the US currency in a quiet trade on mild dollar selling by banks and exporters in the face of subdued overseas sentiment.
F&O cues: Maximum Put OI at 10,200, Call OI at 10,500
Maximum Put OI was seen at 10200 while maximum Call OI was seen at 10500 strike. India's volatility index closed at 13.2675 down 2.52 percent.
Oil prices rise on supply cuts in Saudi Arabia
Oil prices rose nearly 1 percent on Thursday, supported by supply cuts by major exporters as well as continuing concern about political developments in Saudi Arabia. Brent crude oil settled up 44 cents or 0.7 percent at USD 63.93 a barrel, Reuters reported.
Gold holds near 3-week highGold inched up early Friday, holding near a three-week high amid uncertainty over US tax reforms, and was on track for its first weekly rise in a month, Reuters reported.