The Indian stock market is expected to open in the red as trends on SGX Nifty indicate a negative start for the index with a 106-points loss.
On Monday, the BSE Sensex climbed 76.72 points to 60,135.78, while the Nifty50 rose 50.80 points to 17,946 and formed bullish candle on the daily charts as the closing was higher than opening levels.
According to pivot charts, the key support levels for the Nifty are placed at 17,842.7, followed by 17,739.5. If the index moves up, the key resistance levels to watch out for are 18,045.5 and 18,145.1.
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 a choppy session lower on Monday as investors grew nervous ahead of third-quarter earnings reporting season.
The Dow Jones Industrial Average fell 250.19 points, or 0.72%, to 34,496.06, the S&P 500 lost 30.15 points, or 0.69%, to 4,361.19 and the Nasdaq Composite dropped 93.34 points, or 0.64%, to 14,486.20.
Asian indices were trading weak with Hang Seng, Kospi and Taiwan Weighted down 1 percent each, while Nikkei and Straits Times fall 0.5 percent each.
Trends on SGX Nifty indicate a weak opening for the index in India with a 106-points loss. The Nifty futures were trading at 17,854 on the Singaporean Exchange around 07:25 hours IST.
RBI issues revised operational guidelines on on-tap SLTRO scheme for SFBs
The Reserve Bank of India (RBI) on Monday issued revised operational guidelines on the special long-term repo operations (SLTRO) scheme for small finance banks (SFBs). In the monetary policy announced last week, the RBI had extended the on-tap SLTRO for SFBs till December 31, 2021. This facility was earlier made available till October 31, 2021.
The RBI in a statement on Monday said all SFBs eligible under the liquidity adjustment facility (LAF) can participate in the scheme.
NSE launches weekly USD-INR futures contracts
The National Stock Exchange (NSE) on Monday introduced weekly futures contracts in the US Dollar-Indian Rupee (USD-INR) currency pair. The first day witnessed participation from 122 trading members, with volumes of 1.43 lakh contracts worth Rs 1,079.6 crore traded at the end of the day in the weekly futures contracts of USD-INR.
"The launch of weekly futures in the US Dollar Indian Rupee currency pair, will only complement the existing currency derivatives product suite and will further help in deepening the market," as per a release.
Results on October 12
Bhansali Engineering Polymers, GM Breweries, Indbank Merchant Banking Services, Ind Bank Housing, JTL Infra, and DRC Systems India will announce its quarterly earnings on October 12.
India Inc raises record $9.7 billion via IPOs in 9M2021, highest in last 20 years
India Inc has raised $9.7 billion through their initial public offerings (IPOs), the highest amount in a nine-month period over the last 20 years. So far, 43 companies launched public issues in the mainboard and the same number of firms in the SME segment during January-September 2021. In rupee terms, the total fundraising via IPOs stood at Rs 78,520 crore in the mainboard segment and Rs 551 crore in the SME segment.
RBI may hike rates in March quarter of 2022; coal and chip shortages a worry: Report
The Reserve Bank is likely to change the stance of its monetary policy and hike rates from the first quarter of 2022, a Japanese brokerage said on Monday. The central bank will start with liquidity normalisation moves this month, narrowing the difference between the rate at which it funds the system and at which it absorbs excess liquidity in December, Nomura said.
The brokerage upped its consumer price index (CPI) inflation target for 2022 to 5.2 percent from 5 percent earlier. Demand remains strong in India, but there are supply-side headwinds in areas like chips which is bothering the auto sector and coal shortages which threatens to put parts of the country into darkness, it said.
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 1,303.22 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 373.28 crore in the Indian equity market on October 11, as per provisional data available on the NSE.
Stocks under F&O ban on NSE
Nine stocks – Bank of Baroda, BHEL, Canara Bank, Indiabulls Housing Finance, IRCTC, NALCO, Punjab National Bank, SAIL, and Sun TV Network – are under the F&O ban for October 12. 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