Top 15 things to know before the market opens

BSE Sensex

The Indian stock market is expected to open on a cautious note as trends on SGX Nifty indicate a flat to positive opening for the index in India with a 2 points gain.

The BSE Sensex gained 641.72 points, or 1.30 percent, to close at 49,858.24 on March 19, while the Nifty50 rose 186.10 points, or 1.28 percent, to 14,744. According to pivot charts, the key support levels for the Nifty are placed at 14,466.67, followed by 14,189.33. If the index moves up, the key resistance levels to watch out for are 14,904.77 and 15,065.53.

Stay tuned to Moneycontrol to find out what happens in 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 Nasdaq ended mixed on Friday, lifted by Facebook and energy shares as U.S. Treasury yields took a break from a recent surge.

The Dow Jones Industrial Average fell 234.79 points, or 0.71%, to 32,627.51, the S&P 500 lost 2.71 points, or 0.07%, to 3,912.75 and the Nasdaq Composite added 99.07 points, or 0.76%, to 13,215.24

Asian Markets

Asian markets were holding their nerve on Monday as a plunge in the Turkish lira tested risk appetite, with stocks and bonds showing only a limited bid for safe-havens. Japan’s Nikkei fell 1.4%, not helped by talk Japanese retail investors could face losses on large long positions in the high-yielding lira.

SGX Nifty

Trends on SGX Nifty indicate a flat opening for the index in India with a 2 points gain. The Nifty futures were trading at 14,520 on the Singaporean Exchange around 07:30 hours IST.

Household debt soars to 37.1% of GDP, savings plunge 10.4% in Q2: RBI report

The year-long pandemic left households more indebted, which has sharply jumped to 37.1 per cent of GDP in Q2 of FY21, while their savings rate plunged to a low 10.4 per cent, according to latest data from the Reserve Bank.

The household savings plunged as the pandemic has led to tens of millions losing jobs and almost all forced to take deep pay-cuts, forcing them to borrow more or dip into their savings to meet expenses.

FPIs net buyers at Rs 8,642 crore in March so far

Foreign portfolio investors (FPIs) have invested a net sum of Rs 8,642 crore in Indian markets so far in March.

According to depositories data, FPIs poured in Rs 14,202 crore into equities but pulled out Rs 5,560 crore from debt segment between March 1-19. This took the total net investment to Rs 8,642 crore.

EPFO: Net new enrollments rise by 24% to 13.36 lakh in January

Net new enrollments under the retirement fund body Employees Provident Fund Organisation grew by 24 percent to 13.36 lakh in January month on month. While the year-on-year comparison of payroll data indicates an increase of 27.79 percent in net subscribers’ as compared to the corresponding period last year, indicating a return to the pre-Covid levels of subscriber growth for EPFO.

Of the 13.36 lakh net subscribers added during the month of January 2021, around 8.20 lakh new members will receive the benefit of EPFO’s social security schemes for the first time. Around 5.16 lakh net subscribers exited and then rejoined EPFO indicating switching of jobs by the subscribers within the establishments covered by EPFO, labour ministry stated.

Sebi directs 7 entities to disgorge Rs 5.75 crore unlawful gains in Ruchi Soya Industries case

Markets regulator Sebi on Friday directed seven entities to disgorge over Rs 5.75 crore of 'unlawful gains' made by them while indulging in manipulative trading in the shares of Ruchi Soya Industries Ltd. The entities are — Aventis Biofeeds Pvt Ltd (now amalgamated with Immix Trade Pvt Ltd), Navinya Multitrade Pvt Ltd, Uni24 Techno Solutions Pvt Ltd, Sunmate Trade Pvt Ltd, Shreyans Credit and Capital Pvt Ltd, Betul Oils and Feeds Pvt Ltd and Betul Minerals and Constructions Pvt Ltd.

In an order, the regulator has asked the seven entities to disgorge the respective amount, along with interest at the rate of 12 per cent per annum, from September 28, 2012 till the date of actual payment. The regulator had carried out an investigation into the trading activities of certain entities for the last half hour of trading between 15:00 hours to 15:30 hours on September 27, 2012.

Oil falls as European lockdowns douse recovery hopes

Oil prices resumed their decline on Monday, falling around 1% as worries about a drop in demand for fuel products in the wake of yet more European lockdowns dominated trading.

Brent crude was down 60 cents, or 0.9%, at $63.93 a barrel by 0136 GMT. U.S. oil was off by 68 cents, or 1.1%, at $60.74 a barrel. Both contracts fell by more than 6% last week.

NITI Aayog moots steps to expedite PSU disinvestment, asset monetisation process

Government think-tank NITI Aayog is in favour of expediting the proposed disinvestment programme of the public sector units (PSUs) by the Union government, sources told Moneycontrol. The think tank also wants to shorten the asset monetisation process substantially. The policy think tank wants to send its recommendation on disinvestment of PSUs directly to the Cabinet Committee on Economic Affairs (CCEA) for its approval.

Currently, if NITI Aayog suggests a divestment proposal, its recommendation will go to the ministry concerned or Department of Investment and Public Asset Management (DIPAM) first. The ministry or DIPAM examine it and then the proposal goes to Cabinet. But now the think tank proposes that its recommendations on divestment should go directly to the CCEA.

FICCI rubbishes Amazon claims in DPIIT meet; demands zero tolerance on FDI loopholes

In a first, FICCI President Uday Shankar said Amazon's claims at a vital stakeholder-DPIIT meet on March 19 were false and need to be rescinded. Shankar, in a terse distancing from Amazon's claims, said the apex chamber expects zero tolerance on creative interpretations of FDI norms.

Amazon is under ED investigation for misusing Press Notes 2 and 3 and violating the “market place” covenant governing foreign companies in ecommerce.

Turkish lira crumbles on central bank woes, yen gains

The Turkish lira slumped toward a record low versus the dollar after President Tayyip Erdogan stunned investors over the weekend by replacing the hawkish central bank governor with a critic of high interest rates. The Turkish lira stood at 8.10 per dollar in early Asia trade, down 11% from its close on Friday.

India's forex reserves rise by $1.739 billion to $582.037 billion

The country’s foreign exchange reserves increased by $1.739 billion to $582.037 billion in the week ended on March 12, the RBI data showed. In the previous week ended March 5, the reserves had declined by $4.255 billion to $580.299 billion.

The reserves had touched a record high of $590.185 billion in the week ended January 29, 2021. In the reporting week ended March 12, the rise in reserves was on account of an increase in foreign currency assets (FCA), a major component of the overall reserves.

Auto components maker Rolex Rings files IPO papers

Auto-components maker Rolex Rings Ltd has filed preliminary papers with capital markets regulator Sebi to launch an initial share sale. So far this year, 16 companies have filed draft papers for their respective initial public offers (IPOs) as these firms are expecting to benefit from an equity market which is flush with liquidity and has seen a sharp increase in new retail investors.

Rolex Rings'' IPO comprises fresh issue of shares worth Rs 70 crore and an offer for sale of up to 65 lakh equity stocks by Rivendell PE LLC (formerly known as NSR-PE Mauritius LLC), according to the draft red herring prospectus (DRHP).

Equirus Capital Private Ltd, IDBI Capital Markets & Securities Limited, JM Financial Limited have been appointed as merchant bankers for the issue. The equity shares of the company will be listed on the BSE and NSE.

FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 1,418.43 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 559.62 crore in the Indian equity market on March 19, as per provisional data available on the NSE.

2 stocks under F&O ban on NSE

Vodafone Idea and SAIL are under the F&O ban for March 22. 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