Top 10 things to know before the market opens today

Stock Market Today:

The market is expected to open in the green as trends in SGX Nifty indicate a gap-up opening for the broader index in India with a gain of 218 points.

The BSE Sensex fell 391 points to 57,235 while the Nifty50 declined 109 points to 17,014 and formed a bearish candlestick pattern on the daily charts yesterday.

As per pivot charts, the key support level for the Nifty is placed at 16,943 followed by 16,872. If the index moves up, key resistance levels to watch out for are 17,099 and 17,183.

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

US stocks surged to close more than 2% higher on Thursday, as technical support and investors covering short bets drove a dramatic rebound from a selloff earlier in the day. The reversal marked a jump of nearly 194 points in the S&P 500 from its low of the session to its high, the biggest intraday jump for the index since January 24.

The Dow Jones Industrial Average rose 827.87 points, or 2.83%, to 30,038.72, the S&P 500 gained 92.88 points, or 2.60%, to 3,669.91 and the Nasdaq Composite added 232.05 points, or 2.23%, to 10,649.15.

Asian Markets

Shares in the Asia-Pacific jumped on Friday, taking the lead from Wall Street overnight as investors shook off a strong inflation report.

The Nikkei 225 was 2.37% higher in early trade, while the Topix gained 1.74%. In Australia, the S&P/ASX 200 popped 1.7%. South Korea’s Kospi advanced 1.74%. MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.83% higher.

SGX Nifty

Trends in SGX Nifty indicate a gap-up opening for the broader index in India with a gain of 218 points. The Nifty futures were trading around 17,175 levels on the Singaporean exchange.

Also Read: Infosys board approves its fourth buyback program worth Rs 9,300 crore

US annual inflation edges down but accelerates in September

US inflation jumped more than expected in September, according to government data released Thursday, in the latest sign that pricing pressures have become more intractable despite aggressive central bank action.

US prices rose 0.4 percent in September compared to August, twice the 0.2 percent projected by analysts, with price increases for food, shelter and medical care weighing on consumers, according to data from the Bureau of Labor Statistics.

The annual rate of inflation slowed slightly to 8.2 percent from 8.3 percent, according to the report.

Also Read: Infosys Q2 result: Net profit rises 11% YoY to Rs 6,021 cr; FY23 revenue guidance raised to 15-16%

Oil slides as US crude and gasoline stocks surge

Oil prices slipped in early Asian trade on Friday as US crude and gasoline inventories jumped, while Saudi Arabia and Washington continued to clash over plans by OPEC+ to slash production.

Brent crude futures fell 15 cents, or 0.2%, to $94.42 per barrel by 0034 GMT, while US West Texas Intermediate (WTI) crude futures were down 21 cents, or 0.2%, cents at $88.90 per barrel.

PE investments nosedive 77.5% to $3.8 billion in Q3

Reflecting the overall decline in fund flows into startups especially since the Ukraine war, private equity investments plunged 77.5 percent to $3.84 billion in the September quarter, according to an industry report. On a sequential basis, fund inflows declined 43.5 percent from $6.80 billion in the June quarter and a massive 77.5 percent from $17.05 billion in the September 2021 quarter, according to the data collated by Refinitiv, an arm of the London Stock Exchange Group and a provider of financial markets data.

The number of deals also fell by 14.6 percent to 408 from 478 on year, but increased 14.6 percent from 356 in the June quarter. On a year-to-date basis, private equity investments fell 33 percent in the first nine months of 2022 to $19.6 billion, the report said.

Results on October 14 and October 15

Shree Cement, Bajaj Auto, Tata Elxsi, Federal Bank, Oberoi Realty, Just Dial, GI Engineering Solutions, Infomedia Press, and Plastiblends India will be in focus ahead of quarterly earnings on October 14.

HDFC Bank, Avenue Supermarts, ICICI Prudential Life Insurance Company, Larsen & Toubro Infotech, Butterfly Gandhimathi Appliances, Alok Industries, GTPL Hathway, Hathway Bhawani Cabletel & Datacom, Kesoram Industries, Reliance Industrial Infrastructure, and Urja Global will be in focus ahead of quarterly earnings on October 15.

FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 1,636.43 crore whereas domestic institutional investors (DIIs) net bought shares worth Rs 753.29 crore on October 13, as per provisional data available on the NSE.

South Korea's unemployment rate rises from record low

South Korea's unemployment rate rose in September from a record low set in August while employment fell slightly, data showed on Friday, a sign that a year-long policy tightening campaign and slowing exports have begun to cool the economy.

The country's seasonally adjusted unemployment rate rebounded to 2.8% in September from 2.5% in August, which was the lowest since the data series began in June 1999. However, it was still far below an average of 3.6% set in all of 2021.

Stocks on F&O ban list on NSE

Two stocks - Delta Corp and Indiabulls Housing Finance - are on the NSE F&O ban list for October 14. Securities thus banned under the F&O segment include companies where derivative contracts have crossed 95 percent of the market-wide position limit.

With inputs from Reuters and other agencies