The Indian stock market is expected to open in the green as trends on SGX Nifty indicate a positive opening for the index with a 34-points gain.
On Friday, BSE Sensex climbed 381.23 points to close at 60,059.06, while the Nifty50 rose 104.90 points to 17,895.20 and formed small bullish candle which resembles Doji kind of pattern formation on the daily charts. The index formed bullish candle on the weekly scale as it gained 2 percent.
According to pivot charts, the key support levels for the Nifty are placed at 17,843.07, followed by 17,790.93. If the index moves up, the key resistance levels to watch out for are 17,944.57 and 17,993.93.
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 Markets
The S&P 500 ended lower on Friday after data showed weaker jobs growth than expected in September, yet investors still expected the Federal Reserve to begin tapering asset purchases this year.
The Dow Jones Industrial Average dipped 0.03% to end at 34,746.25 points, while the S&P 500 lost 0.19% to 4,391.35. The Nasdaq Composite dropped 0.51% to 14,579.54.
Asian Markets
Asian markets were trading higher with Hang Seng and Nikkei up 1 percent each, while Shanghai Composite up 0.5 percent.
SGX Nifty
Trends on SGX Nifty indicate a flat opening for the index in India with a 13 points loss. The Nifty futures were trading at 17,906.50 on the Singaporean Exchange around 07:30 hours IST.
Indian job market grows 57% annually in September ahead of festive season: Naukri JobSpeak
The Indian job market maintained its record-breaking run for the third consecutive month in a row, clocking 57 percent year-on-year growth in September, according to the latest Naukri JobSpeak report. At 2,753 job postings, the index hit an all-time high in September surpassing pre-COVID levels in September 2019 by 21 percent.
It said sectors like hospitality (82 percent) and retail (+70 percent) which were most impacted by the pandemic, also witnessed significant YoY growth in September with several hotels and physical store outlets across the country gradually reopening.
Hiring activity has also grown in the education (53 percent), banking/financial services (43 percent) and telecom/ISP (+37 percent) sectors as compared to September, 2020.
Govt initiates process for filling posts of independent directors in PSBs, FIs
The government has initiated the process of filling about 100 vacancies of independent directors in public sector banks and financial institutions to meet regulatory norms of corporate governance.
There have been vacancies at the independent director level across the public sector space leading to regulatory non-compliance, sources said.
US economy adds 194,000 jobs in September: Govt
The United States added 194,000 jobs last month and the unemployment rate fell to 4.8 percent, government data released Friday showed, a mixed result as the world's largest economy recovers from the pandemic.
Fewer jobs were gained than expected but the unemployment rate dropped by more than analysts predicted, with the Labor Department noting employment rising in the leisure and hospitality sector that had been hard hit by Covid-19, but declining in public education.
Hiring was overall much weaker than the upwardly revised 366,000 positions added in August, and may indicate that the Covid-19 Delta variant made businesses hesitant and held back employment.
Mutual funds assets under management jump to nearly Rs 37 lakh crore in September: Amfi
Driven by record inflows into Systematic Investment Plans (SIPs), the overall mutual funds industry's assets under management jumped to nearly Rs 37 lakh crore in September, registering an over 33 per cent growth compared to the year-ago period, according to Amfi data. The overall Assets Under Management (AUM) touched Rs 36.74 lakh crore last month, up from Rs 27.6 lakh crore in September 2020, the data from the Association of Mutual Funds (Amfi) showed on Friday.
Amfi CEO N S Venkatesh attributed the record AUM to the record inflows into the SIPs which crossed the Rs 10,000-crore milestone for the first time. This is also reflective of the continued retail investor confidence in mutual funds. Retail investors are preferring mutual funds over low-yielding traditional savings avenue like bank fixed deposits as well as gold and real estate, he added.
Forex reserves down by $1.169 billion to $637.477 billion
The country's foreign exchange reserves dipped by $1.169 billion to stand at $637.477 billion in the week ended October 1, RBI data showed on Friday. In the previous week ended September 24, 2021, the reserves had declined by $997 million to $638.646 billion. The reserves had surged by $8.895 billion to a lifetime high of $642.453 billion in the week ended September 3, 2021.
During the reporting week ended October 1, 2021, the dip in the forex kitty was on account of a fall in the foreign currency assets (FCAs), a major component of the overall reserves. FCAs declined by $1.28 billion to $575.451 billion, as per weekly data by the Reserve Bank of India (RBI).
Results on October 11
Delta Corp, HFCL, Krsnaa Diagnostics, Ramkrishna Forgings, Saregama India, Tata Metaliks, Tinplate Company of India, Lesha Industries, and Sri Lakshmi Saraswathi Textiles will release its quarterly earnings on October 11.
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 64.01 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 168.19 crore in the Indian equity market on October 8, as per provisional data available on the NSE.
With inputs from Reuters & other agencies
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