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 15 points gain.
BSE Sensex closed below 60,000-mark, down 1,158.63 points at 59,984.70, while the Nifty50 has broken 18,000 levels, declining 353.70 points to 17,857.30 and formed large bearish candle on the daily charts.
According to pivot charts, the key support levels for the Nifty are placed at 17,707.5, followed by 17,557.8. If the index moves up, the key resistance levels to watch out for are 18,098.8 and 18,340.4.
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 Nasdaq hit a record high on Thursday, led by mega-cap companies - Apple, Amazon.com and Tesla, while solid results from Caterpillar and Merck helped investors shrug off signs of slowing economic growth.
The Dow Jones Industrial Average was up 137.92 points, or 0.39%, at 35,628.61, the S&P 500 was up 33.32 points, or 0.73%, at 4,585.00, and the Nasdaq Composite was up 165.59 points, or 1.09%, at 15,401.42.
Shares in Asia-Pacific were mixed as investors monitor stocks of Apple suppliers after the tech giant’s revenue miss. The Nikkei 225 in Japan climbed 0.12% while the Topix index hovered above the flatline. South Korea’s Kospi gained 0.57%.
Trends on SGX Nifty indicate a flat opening for the index in India with a 15 points gain. The Nifty futures were trading at 17,896 on the Singaporean Exchange around 07:30 hours IST.
Sebi comes out with guidelines for investment, trading by AMCs' employees
Markets regulator Sebi on Thursday came out with a new framework for investment and trading in securities by employees of Asset Management Companies (AMCs) and trustees of mutual funds. The framework will help in avoiding any actual or potential conflict of interest or any abuse of an individual's position of trust and responsibility.
In a circular, the Securities and Exchange Board of India (Sebi) said it has tweaked the guidelines pertaining to 'access person' and 'cooling off' period of such a person in respect of investments made by them in securities traded through the secondary markets. The employees, board members of AMCs and board members of trustees, including access persons, will not take undue advantage of any sensitive information that they may have about any company or its securities or about AMCs' schemes or its units.
US jobless claims drop to coronavirus pandemic low at 281,000
The number of Americans applying for unemployment benefits fell to a pandemic low last week, another sign that the job market and economy continue to recover from last year's coronavirus recession.
Jobless claims dropped by 10,000 to 281,000, lowest since mid-March 2020, the Labor Department said Thursday. Since topping 900,000 in early January, weekly applications have steadily dropped, moving ever closer to prepandemic levels just above 200,000.
Japan's factories extend output declines in September
Japan’s factory output shrank for the third straight month in September as production in the auto sector was hit by a global supply shortage, throwing the recovery in the world’s third-largest economy into doubt.
Factory production slumped 5.4% in September from the previous month, official data showed on Friday, hurt by falling output of cars as well as general-purpose machinery.
US yields climb as weak GDP largely ignored
US Treasury yields advanced on Thursday, as investors shrugged off weaker-than-expected US economic growth data and focused instead on the inflation components of the report, as well as a solid jobless claims number.
US yield curves flattened again amid heightened expectation of a rate hike by the Federal Reserve next year, with the gap between 5-year and 30-year yields narrowing to 73.4 basis points, its tightest since March 2020.
Oil settles down
Oil prices dipped on Thursday but settled off two-week lows as concerns about U.S. supply growth vied with speculation that Iran's supply could come online following nuclear talks with global powers.
Brent crude settled down 26 cents, or 0.3%, lower at $84.32 a barrel. During the session it hit a two-week low of $82.32 after falling 2.1% on Wednesday.
BPCL, Adani Power, Dr Reddy's Labs, Shree Cement, UPL, Vedanta, Adani Transmission, Apollo Tyres, Bandhan Bank, Barbeque-Nation Hospitality, Bharat Electronics, Cadila Healthcare, CARE Ratings, Castrol India, Chemplast Sanmar, Cholamandalam Investment and Finance Company, LT Foods, Dalmia Bharat Sugar and Industries, Dixon Technologies (India), Elecon Engineering, Emami, Embassy Office Parks REIT, Equitas Small Finance Bank, Escorts, Exide Industries, GAIL (India), Glaxosmithkline Pharmaceuticals, Indigo Paints, JK Lakshmi Cement, JSW Energy, Kolte-Patil Developers, Neuland Laboratories, Oberoi Realty, REC, RPG Life Sciences, SAIL, Satin Creditcare Network, Sumitomo Chemical India, TTK Healthcare, Varun Beverages, VIP Industries, and Voltas.
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 3,818.51 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 836.60 crore in the Indian equity market on October 28, as per provisional data available on the NSE.
With inputs from Reuters & other agencies