A look at top cues from domestic and international cues that could have a bearing on D-Street.
The Nifty started on a muted note on Monday and failed to pull the index back above 10,300 which it was able to do in the past two sessions. The Nifty opened at 10,322 and rose marginally to hit an intraday high of 10,334. It slipped to an intraday low of 10,216 before closing the day at 10,224, down 96 points.
According to Pivot charts, the key support level is placed at 10,182.73, followed by 10,140.47. If the index starts to move higher, key resistance levels to watch out are 10,300.73 and 10,376.47.
The Nifty Bank closed at 25,358.3 on Monday. Important Pivot level, which will act as crucial support for the index, is placed at 25,259.79, followed by 25,161.3. On the upside, key resistance level is 25,534.2 followed by 25,710.1.
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 led by consumer staples
US stock indexes rose on Monday as a sharp drop in General Electric shares was more than offset by gains in high dividend-paying sectors. The Dow Jones Industrial Average rose 17.49 points, or 0.07 percent, to 23,439.7, the S&P 500 gained 2.54 points, or 0.10 percent, to 2,584.84 and the Nasdaq Composite added 6.66 points, or 0.1 percent, to 6,757.60, Reuters reported.
Asian markets trade weak ahead of China data
Asian stocks wobbled on Tuesday as investors awaited developments in US tax reform efforts. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.25 percent after two sessions of declines, while Australia fell 0.9 percent. Japan's Nikkei was choppy, down 0.1 percent to add to four sessions of losses, Reuters reported.
The Nifty50 futures on the Singapore Stock Exchange were trading 4 points lower at 10257 indicating a flat to negative opening for the domestic market.
Retail inflation in Oct accelerates at 3.58%
India’s retail inflation grew at 3.58 percent in October, mainly due an increase in prices of consumer food items. Consumer food price inflation, a metric to gauge changes in monthly kitchen costs, saw a jump, with prices rising 1.90 percent in October from 1.25 percent in September.
Vegetables prices witnessed a negative growth of 3.77 percent in October as compared with 4 percent in September. Similarly, prices of pulses fell -23 percent, as compared with (-)22.51 percent in September.
Seven Islands Shipping gets SEBI's approval for Rs 450-cr IPO
Seven Islands Shipping has received SEBI's go-ahead to raise an estimated Rs 450 crore through an initial public offering, latest update with markets regulator showed. It comprises a fresh issue of shares worth Rs 200 crore, besides a sale of scrips to the tune of Rs 250 crore by private investor Wayzata Investment Partners and promoters.
PM invites ASEAN countries to ramp up investments
Prime Minister Narendra Modi on Monday invited the ASEAN countries to ramp up their investment in India and said the task of transforming the country is proceeding at an "unprecedented scale".
The prime minister said the focus of his government has been to make India a global manufacturing hub and that efforts are on to make youngsters the job creators.
Khadim India to debut on Nov 14
Khadim India will list on the bourses on Tuesday following the conclusion of its Rs 543 crore initial public offer last week. Khadim India's IPO was subscribed 1.90 times during November 2-6. The price band for the offer was fixed at Rs 745-750 per share.
Inflows in equity MFs surges to Rs 2.86 lakh cr after note ban
Equity mutual funds registered a staggering inflow of Rs 2.86 lakh crore in the past 11 months bolstered by the ban on high value currency notes, latest industry data showed. The sudden spike in bank deposits and consequent decline in interest rates following demonetisation on November 8, 2016 led to surge in inflow into equity mutual funds, an analyst said.
According to the Association of Mutual Funds in India (Amfi) data, equity funds received an inflow of Rs 2.86 lakh crore from November 2016 to October 2017.
SEBI may get chance to oversee unlisted subsidiaries of listed companies
The Ministry of Corporate Affairs (MCA) may give some leeway to the Securities and Exchange Board of India (SEBI) to regulate unlisted subsidiaries of listed companies
SC comes down hard on JP Associates for missing deadlines
Coming down heavily on Jaiprakash Associates for missing the fourth deadline to deposit Rs 2000 crore towards refunding homebuyers, the Supreme Court ordered that all non-institutional directors of the parent company be present before the apex court on the next date of hearing on November 22.
Bharat 22 ETF opens on Tuesday, govt may raise Rs 8K cr
The Bharat-22 exchange traded fund (ETF) that aims to raise an initial amount of Rs 8,000 crore for government, will open for investors on Tuesday and end on Friday. The ETF, which is a diversified portfolio of 22 blue chips, will open for anchor investors tomorrow and for non- anchor investors on November 15 and close on November 17.
This ETF is a part of government's overall disinvestment programme, which has set a target of realising Rs 72,500 crore this fiscal.
FM signals further GST rate cuts
Finance minister Arun Jaitley on Monday signalled more GST rate cuts and appealed to businesses to pass on the benefit of the recent reductions to consumers.
The finance minister, however, qualified that the rate cuts will be presaged on revenue collections and then went on to point out that the tax burden on most items at present is less than what it used to be, Livemint reported.
Finmin asks PSU banks to act swiftly to deal with NPAs
Concerned over Non Performing Assets (NPA) crossing Rs 7 lakh crore, the finance ministry has asked public sector banks (PSBs) to take swift and firm action to deal with the bad loan problem, a banker said. The issue came up for deliberation during the two-day PSB Manthan ended yesterday during which the finance ministry expressed urgency to deal with the mounting non-performing assets.
India to overtake Japan to become third-largest economy by 2028
India is likely to achieve strong growth over the next decade and will overtake Japan in nominal GDP by 2028, to emerge as the world’s third-largest economy, says a foreign brokerage report.
The country has already overtaken Brazil and Russia to emerge as the second largest BRIC economy after China and is well on track to cross France and Britain to emerge as the world's fifth largest economy after Germany by 2019.
OPEC points to larger oil supply deficit
OPEC raised its forecast on Monday for demand for its oil in 2018 and said its deal with other producers to cut output was reducing excess oil in storage, potentially pushing the global market into a larger deficit next year, Reuters reported.
Govt seeks hefty dividends from state firms as its revenues falter
The government is demanding millions of dollars in dividends from 12 reluctant state companies to make up for an expected tax revenue shortfall this fiscal year, as a slump in economic growth risks New Delhi overshooting its fiscal deficit target.
The ministry asked 12 of the companies to payout between 30 percent and as much as 100 percent of their 2016/17 or 2017/18 net profit in dividends, share buybacks or bonus shares. The other two companies were exempted, Reuters reported.
Trump to lawmakers: Cut health mandate, top tax bracket
US President Doland Trump called on lawmakers to add a highly risky provision to their tax effort: repealing the individual mandate included in the 2010 Obamacare health insurance law that requires Americans to have health coverage or pay a tax to Washington. Trump has pushed hard for adding the mandate repeal to the tax-cut package, Reuters reported.
Venezuela offers chocolates but little else to creditors
Venezuela’s socialist government gifted chocolates to creditors on Monday, but offered no firm proposals at a brief meeting in Caracas that left investors without a clear understanding of the government’s strategy to renegotiate USD 60 billion in debt, Reuters reported.
Bitcoin claws back over $1,000
Bitcoin surged on Monday, recovering more than $1,000 after losing almost a third of its value in less than four days as traders bought back into the volatile cryptocurrency, Reuters reported.
Over 900 companies to report September quarter results
As many as 900 companies are likely to report their September quarter numbers including Sun Pharmaceutical Industries, Bank of Baroda, Eicher Motors, GAIL (India), Grasim Industries, Cadila Healthcare, Bata India, etc among others.
F&O cues: Maximum Put OI at 10,200, Call OI at 10,500
On the options front, maximum Put OI is shifting at 10200 strikes while maximum Call OI is at 10500 strikes. India VIX moved up by 4.23 percent at 14.045. A rise in VIX suggests that volatile swings are likely to continue in the market and VIX has to cool down to get the market stability.
NSE bans 10 companies from trading
The derivative contracts of DHFL, HDIL, Indiabulls Real Estate, India Cements, Infibeam, Jet Airways, Jain Irrigation Systems, JSW Energy, Jaiprakash Associates and Just Dial have crossed 95 percent of the market-wide position limit and are currently in the ban period.
Gold inches down as stronger dollar weighs
Gold prices edged lower early on Monday in the wake of their biggest one-day percentage loss in about two weeks in the previous session, weighed down as the US dollar firmed, Reuters reported.
Rupee tanks 26 paise to 65.42
The rupee on Monday extended its fall for the second straight session and saw a big 26 paise plunge in value at an over one-month low of 65.42 a dollar amid sustained demand for the US currency.
Oil near 2-year highs, Brent sheds 0.6%Oil prices held steady in a tight range Monday after briefly testing lower, with support from Middle East tensions and record long bets by fund managers balanced by rising US production. Brent crude futures settled down 36 cents, or 0.6 percent, at USD 63.16 a barrel, Reuters reported.