The Indian stock market is expected to open firm as trends on SGX Nifty indicate a positive start for the index with a 95-points gain.
On October 13, the BSE Sensex surged 452.74 points to 60,737.05, while the Nifty50 climbed 169.80 points to 18,161.80 and formed a bullish candle on the daily charts, taking the total five-day gains to nearly 3 percent.
According to pivot charts, the key support levels for the Nifty are placed at 18,075.8, followed by 17,989.8. If the index moves up, the key resistance levels to watch out for are 18,222.8 and 18,283.8.
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 and Nasdaq ended higher on Wednesday, led by gains in shares of big growth names like Amazon.com and Microsoft, but JPMorgan shares fell along with other bank shares and weighed on the market.
The Dow Jones Industrial Average fell 0.53 points to 34,377.81, the S&P 500 gained 13.15 points, or 0.30%, to 4,363.8 and the Nasdaq Composite added 105.71 points, or 0.73%, to 14,571.64.
Asian Markets
Asian markets were trading mixed with Nikkei and Kospi gained 1 percent each, while Straits Times fell 0.3 percent.
SGX Nifty
Trends on SGX Nifty indicate a positive start for the index in India with a 95-points gain. The Nifty futures were trading at 18,275 on the Singaporean Exchange around 07:25 hours IST.
RBI imposes monetary penalty on The Sahyadri Sahakari Bank
The Reserve Bank of India (RBI) on October 13 imposed a monetary penalty of Rs 3 lakh on Mumbai-based The Sahyadri Sahakari Bank Limited over non-compliance with RBI directions on Frauds - Classification and Reporting, the central bank said in a release.
The inspection report of the bank with the bank's position as of March 31, 2019, revealed the bank had not transferred unclaimed amounts in accounts for more than ten years to Depositor Education and Awareness Fund (DEA Fund).
US Inflation rises 5.4% from year ago, matching 13-year high
Consumer prices rose 0.4% last month, slightly higher than August's gain and pushing annual inflation back to the highest increase in 13 years.
The consumer price index rose 5.4% in September from a year ago, the Labor Department said Wednesday, up slightly from August's gain of 5.3% and matching the increases in June and July, which were the highest since 2008. Excluding the volatile food and energy categories, core inflation rose 0.2% in September and 4% compared with a year ago. Core prices hit a three-decade high of 4.5% in June.
Gold steadies near one-month high buoyed by softer dollar, yields
Gold prices hovered near a one-month peak on Thursday as the dollar and longer-dated Treasury yields retreated from recent highs following hotter-than-expected U.S. inflation data.
China Sept factory inflation hits highest since records started
China’s annual factory gate prices rose more quickly than expected in September, driven by soaring raw material prices, piling pressure on businesses already grappling with energy curbs and supply bottlenecks.
The producer price index (PPI) rose 10.7% from a year earlier in September, its fastest pace since the data began to be compiled in October 1996, the National Bureau of Statistics (NBS) said on Thursday. That compared with an increase of 10.5% forecast in a Reuters poll and a 9.5% rise in August.
Singapore Q3 GDP expands 6.5% y/y, largely matching forecasts
Singapore's economy grew 6.5% in the third quarter, preliminary official data showed on Thursday, broadly in line with economists' forecast.
Results on October 14:
HCL Technologies, Indiabulls Real Estate, Benares Hotels, Century Textiles, Cyient, Den Networks, Ganesh Housing Corporation, GTPL Hathway, Inox Wind, Inox Wind Energy, Mahindra CIE Automotive, Radhe Developers, Superior Finlease, Vikas EcoTech, and Vikas Lifecare will release their September 2021 quarter earnings on October 14.
Results on October 16: HDFC Bank, Avenue Supermarts, Aarnav Fashions, Artson Engineering, Infomedia Press, Sangam (India), and VR Woodart will release September 2021 quarter earnings on October 16.
FII and DII data
Foreign institutional investors (FIIs) net bought shares worth Rs 937.31 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 431.72 crore in the Indian equity market on October 13, as per provisional data available on the NSE.
Stocks under F&O ban on NSE
Eight stocks - Bank of Baroda, BHEL, Indiabulls Housing Finance, Vodafone Idea, NALCO, Punjab National Bank, SAIL, and Sun TV Network - are under the F&O ban for October 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
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