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 30-points gain.
On October 21, Sensex fell 456 points to 61,260 and the Nifty50 corrected 152 points to 18,266.60. Auto, FMCG, metal, pharma and IT stocks pulled the market down. The Nifty50 formed a bearish candle on the daily charts as the closing was lower than opening levels. The selling pressure was seen more in broader markets than benchmarks for the second consecutive session as the Nifty Midcap 100 and Smallcap 100 indices were down more than 2 percent each.
According to pivot charts, the key support levels for the Nifty are placed at 18,164.5, followed by 18,062.4. If the index moves up, the key resistance levels to watch out for are 18,413.5 and 18,560.4.
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 and the Dow climbed on Wednesday with the Dow hitting an intraday record high as investors eyed better than expected third-quarter earnings from U.S. companies.
The Dow Jones Industrial Average rose 152.03 points, or 0.43%, to 35,609.34, the S&P 500 gained 16.56 points, or 0.37%, to 4,536.19 and the Nasdaq Composite dropped 7.41 points, or 0.05%, to 15,121.68.
Stocks in Asia-Pacific were mixed in Thursday trade, as investors monitored shares of developer China Evergrande Group in Hong Kong.
In Japan, the Nikkei 225 slipped 0.28% while the Topix index dipped 0.21%. South Korea’s Kospi edged 0.08% lower.
Trends on SGX Nifty indicate a positive opening for the index in India with a 30-points gain. The Nifty futures were trading at 18,347 on the Singaporean Exchange around 07:30 hours IST.
Bitcoin notches record high
Bitcoin climbed to a record high on Wednesday, and the first US bitcoin futures-based exchange-traded fund (ETF) built on gains after a solid debut on Tuesday. The world's leading cryptocurrency was up 3.30% at $66,364.72, after reaching a record of $67,016.50, topping the $64,895.22 hit on April 14 this year.
China Evergrande shares fall in resumed trade after $2.6 billion deal collapses
Shares of China Evergrande Group slid as much as 14% on Thursday after a deal to sell a $2.6 billion stake in its property services unit fell through, in the latest blow to the developer whose massive debt woes have rattled global markets.
Evergrande said on Wednesday it had scrapped a deal to sell a 50.1% stake in Evergrande Property Services Group Ltd to Hopson Development Holdings Ltd as the smaller rival had not met the “prerequisite to make a general offer”.
Oil rallies as US crude stocks decline in tight market
Oil prices rallied on Wednesday after US crude inventories at the nation's largest storage site hit their lowest level in three years and nationwide fuel stocks fell sharply, a signal of rising demand.
Brent crude futures settled at $85.82 a barrel, a gain of 0.9% or 74 cents and the highest since October 2018.
RBI imposes Rs 1 crore penalty on Paytm Payments Bank
The Reserve Bank of India (RBI) on October 20 said it has imposed a monetary penalty of Rs one crore on Paytm Payments Bank Limited (PPBL) for certain violations.
On examination of Paytm payments bank’s application for issue of final Certificate of Authorisation, the RBI observed that PPBL had submitted information that did not reflect the factual position, the central bank said.
Asian Paints, JSW Steel, Biocon, 63 Moons Technologies, Agro Tech Foods, Borosil Renewables, Can Fin Homes, CG Power and Industrial Solutions, Container Corporation of India, ICICI Lombard General Insurance Company, IDBI Bank, Indian Energy Exchange, IIFL Securities, Indian Hotels, IndiaMART InterMESH, Duncan Engineering, Gateway Distriparks, Heritage Foods, Jubilant Industries, Lemon Tree Hotels, LIC Housing Finance, Bank of Maharashtra, Mphasis, Music Broadcast, Rane Engine Valve, Sasken Technologies, South Indian Bank, Sterlite Technologies, Tanla Platforms, Trident, TVS Motor Company, and VST Industries.
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 1,843.09 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 1,680.73 crore in the Indian equity market on October 20, as per provisional data available on the NSE.
Stocks under F&O ban on NSE
Ten stocks - Amara Raja Batteries, Escorts, Vodafone Idea, IRCTC, L&T Finance Holdings, NALCO, Punjab National Bank, SAIL, Sun TV Network and Tata Power - are under the F&O ban for October 21. 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