The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a positive opening for the index in India with a 45-points gain.
The BSE Sensex declined 127.31 points to close at 58,177.76, while the Nifty50 fell 14 points to 17,355.30 and formed a Doji kind of pattern on the daily charts, indicating indecisiveness among market participants.
According to pivot charts, the key support levels for the Nifty are placed at 17,290.23, followed by 17,225.17. If the index moves up, the key resistance levels to watch out for are 17,399.34 and 17,443.37.
Stay tuned to Moneycontrol to find out what happens in the currency and equity markets today. We have collated a list of important headlines across news platforms which could impact Indian as well as international markets:
The S&P 500 closed higher on Monday, ending a five-day losing streak as investors focused on potential corporate tax hikes and upcoming economic data. The Dow Jones Industrial Average also advanced, but the Nasdaq Composite Index ended lower.
The Dow Jones Industrial Average rose 261.91 points, or 0.76%, to 34,869.63, the S&P 500 gained 10.15 points, or 0.23%, at 4,468.73 and the Nasdaq Composite dropped 9.91 points, or 0.07%, to 15,105.58.
Shares in Asia-Pacific were mixed in Tuesday morning trade as investors look ahead to the release of U.S. consumer inflation data for August.
The Nikkei 225 in Japan rose 0.8% while the Topix index advanced 0.66%. South Korea’s Kospi gained 0.83%.
Trends on SGX Nifty indicate a positive opening for the index in India with a 45-points gain. The Nifty futures were trading at 17,420 on the Singaporean Exchange around 07:30 hours IST.
Oil extends gains on worries of US supply disruptions from another storm
Oil prices extended gains on Tuesday, hovering near a six-week high, on signs another storm could affect output in Texas this week even as the US industry struggles to return production after Hurricane Ida wreaked havoc on the Gulf Coast.
Brent crude rose 15 cents, or 0.2% to $73.66 a barrel by 0048 GTM, having gained 0.8% the previous day. U.S. West Texas Intermediate (WTI) crude also climbed 23 cents, or 0.3%, to $70.68 a barrel, after rising 1.1% on Monday.
CPI inflation in August cools further to 5.30%
Consumer Price Index-based Inflation (CPI) for August 2021 came in at 5.30 percent, compared with 5.59 percent in July, as food prices cooled further, especially in the case of vegetable inflation, data released by the National Statistical Office (NSO) showed on September 13. Consumer Food Price Inflation (CFPI) for August stood at 3.11 percent compared to 3.96 percent in July.
However, concerns remained with high edible oil prices, which registered an increase of 33 percent year-on-year (YoY).
Zee Entertainment's largest shareholders call EGM seeking removal of Puneet Goenka from board
Zee Entertainment's (ZEE's) largest shareholders, Invesco Developing Markets Fund and OFI Global China Fund LLC, which together hold 17.88 percent of the total paid-up share capital of the company, in a letter on September 11, called an extraordinary general meeting (EGM) seeking removal of Punit Goenka, Manish Chokhani and Ashok Kurien as Directors of the firm, the company said in a regulatory filing on September 13.
RBI selects eight entities for second cohort of regulatory sandbox on cross-border payments
The Reserve Bank of India (RBI) on September 13 announced that it has selected eight entities for the second cohort of regulatory sandbox on cross- border payments. RBI had received 27 applications from 26 entities, of which, only eight have been selected. The entities will be allowed to commence testing of their products from the third week of September, RBI said in a release.
US yields dip with eyes on inflation data
US government bond yields dipped on Monday with markets looking ahead to consumer inflation data on Tuesday that is expected to show a continuing slowdown in the pace of price increases.
Yields are seen remaining in a tight range after last week's 10- and 30-year auctions were met with strong demand.
US dollar rises to two-week high as Fed taper view builds
The dollar climbed to a two-week peak against a basket of major currencies on Monday, as investors continued to price in expectations that the U.S. Federal Reserve could reduce its asset purchases sooner rather than later despite a surge in COVID-19 cases.
The dollar index earlier rose to 92.887, its highest level since Aug. 27. It was last up 0.1% at 92.707.
FII and DII data
Foreign institutional investors (FIIs) net bought shares worth Rs 1,419.31 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 559.59 crore in the Indian equity market on September 13, as per provisional data available on the NSE.
Stocks under F&O ban on NSE
Five stocks - Canara Bank, Exide Industries, Indiabulls Housing Finance, LIC Housing Finance and NALCO - are under the F&O ban for September 14. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.With inputs from Reuters & other agencies