The Indian stock market is expected to open on a cautious note as trends on SGX Nifty indicate a flat opening for the index in India with a 13-points gain.
The BSE Sensex jumped 514.34 points to 59,005.27, while the Nifty50 climbed 165.10 points to 17,562 and formed bullish candle on the daily charts.
According to pivot charts, the key support levels for the Nifty are placed at 17,399.3, followed by 17,236.6. If the index moves up, the key resistance levels to watch out for are 17,651.5 and 17,741.
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:
US stocks ended near flat on Tuesday after a broad sell-off the day before, with worries over troubles at developer China Evergrande and caution ahead of Wednesday’s Federal Reserve policy news keeping a lid on the market.
The Dow Jones Industrial Average fell 50.63 points, or 0.15%, to 33,919.84, the S&P 500 lost 3.54 points, or 0.08%, to 4,354.19 and the Nasdaq Composite added 32.50 points, or 0.22%, to 14,746.40.
Asian stock markets made a cautious start on Wednesday and the dollar held firm amid lingering nerves about the fallout from a looming failure at developer China Evergrande and anticipation the Federal Reserve may move a step closer to tapering.
Japan’s Nikkei fell 0.5%. Equity, bond and currency markets in China open for the first time on Wednesday since concern over Evergrande’s predicament triggered a wave of selling and contagion worries around the world.
Trends on SGX Nifty indicate a cautious opening for the index in India with a 13-points gain. The Nifty futures were trading at 17,574 on the Singaporean Exchange around 07:30 hours IST.
Oil rises on big decline in US crude stocks
Oil prices rose around 1% on Wednesday, extending overnight gains, after industry data showed US crude stocks fell more than expected last week in the wake of two hurricanes, highlighting tight supply as demand improves.
US West Texas Intermediate (WTI) crude futures rose 75 cents, or 1.1%, to $71.24 a barrel at 0131 GMT, adding to a 35 cent gain from Tuesday. Brent crude futures climbed 68 cents, or 0.9%, to $75.04 a barrel, after gaining 44 cents on Tuesday.
BSE adds 1-crore investor accounts in just 107 days to cross 8-crore mark
Premier bourse BSE has added 1 crore registered investor accounts to its platform between June 6 and September 21, taking the total to over 8 crore in a span of just 107 days.
On June 6 this year, the exchange had said its registered user base has crossed the 7 crore (70 million) mark, which was an addition of 2 crore registered investor accounts in a little over 12 months (from May 23, 2020).
Commenting on the achievement of crossing the 8 crore registered investor accounts on Tuesday, BSE MD and CEO Ashishkumar Chauhan said equity investments, whether directly or through mutual funds, are gaining ground over last one-and-a-half years due to variety of reasons globally, and the domestic market is also following this world trend.
US current account deficit widens to 14-year high in second quarter
The US current account deficit increased to a 14-year high in the second quarter as businesses boosted imports to replenish depleted inventories amid robust consumer spending.
The Commerce Department said on Tuesday the current account deficit, which measures the flow of goods, services and investments into and out of the country, rose 0.5% to $190.3 billion last quarter. That was the largest shortfall since the second quarter of 2007.
US House approves bill to suspend debt limit, fund government
Democrats in the House of Representatives passed a bill on Tuesday to fund the US government through December 3 and suspend the nation's borrowing limit until the end of 2022, sending it to the Senate where Republicans have vowed to block it.
FII and DII data
Foreign institutional investors (FIIs) net bought shares worth Rs 1,041.92 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 2,167.62 crore in the Indian equity market on September 21, as per provisional data available on the NSE.
Puranik Builders files draft papers with Sebi again to raise funds via IPO
Real estate developer Puranik Builders has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The IPO comprises fresh issue of shares worth Rs 510 crore and an offer for sale up to 945,000 equity shares by the company's promoters group, according to the draft papers filed with Securities and Exchange Board of India (Sebi) on Monday.
As a part of the offer for sale, Ravindra Puranik and Gopal Puranik will offload up to 4,72,500 equity shares each.
Stocks under F&O ban on NSE
Five stocks - Indiabulls Housing Finance, Vodafone Idea, IRCTC, Punjab National Bank, and Sun TV Network - are under the F&O ban for September 22. 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