What changed for the market while you were sleeping? 10 things to know

The Nifty, which closed marginally above its crucial level of 9,100 in the previous session, could build on gains on Wednesday, but volatility cannot be ruled out ahead of March F&O expiry.

The market could experience some volatility ahead of March expiry on Thursday, but investors should hold on to long positions as long as 9,075 holds. It is important for Nifty to break past 9,133 on a closing basis to witnessed buying momentum.

Here are top cues from domestic as well as international markets which could have a bearing on D-Street.

The Tata Sons board approved a resolution to invest up to Rs 10,000 crore in various Tata group companies at the first board meeting chaired by N Chandrasekaran on February 21.

The filing didn’t give any reasons or mention the companies in which the funds would be invested. The board, on the same day, also decided to raise up to Rs 7,000 crore by selling bonds to refinance debt, invest in securities or provide loans to companies, said a report.

US stocks rose after moving in a range in the past two trading sessions after US consumer confidence soaring to a more than 16-year high. The S&P 500 posted its best day in nearly two weeks.

US consumer confidence surged to a more than 16-year high in March amid growing labor market optimism, while the trade deficit in goods narrowed sharply in February, said a report.

The Dow Jones Industrial Average rose 150.52 points, or 0.73 per cent, to 20,701.5, the S&P 500 gained 16.98 points, or 0.73 per cent, to 2,358.57 and the Nasdaq Composite added 34.77 points, or 0.6 per cent, to 5,875.14.

The Nifty futures on the Singapore Stock Exchange were trading flat at 9,156 indicating a flat opening for the domestic market.

The revised draft of the goods and services tax (GST) legislation tabled in Parliament on Monday could put pressure on the working capital of industries, said a media report.

According to the provisions of the central GST law tabled in the Lok Sabha, taxpayers can claim credit only on the basis of receipt of goods or services. The earlier version of the draft had provided for the facility of provisional credit, which has now been done away with.

“The earlier provision in the GST law provided that every capital good will be able to avail of credit over a period of two years. For telecom towers and pipelines, the credit could be deferred over a period of three years,” report quoted.

Additionally, land, renting of buildings, as well as EMIs, paid for the purchase of under-construction houses will also start attracting the Goods and Services Tax from July 1.

British Prime Minister Theresa May will trigger Britain’s withdrawal from the European Union under Article 50 of the EU treaty on Wednesday. It should be out in two years, said a report.

May and EU leaders say transitional arrangements may well be needed, to give more time to agree on a future trade deal and give people and businesses time to adjust to the divorce.

The dollar rose on Tuesday, bouncing from 4-month lows, as a top Federal Reserve official reinforced expectations of more US rate hikes to come. Macroeconomic data on US consumer confidence that showed a reading at the highest level in more than 16 years.

The dollar was last up 0.6 percent against a basket of major currencies that measures its overall strength to 99.711, the strongest one-day percentage gain since March 1, said a Reuters report.

Bulls regained control of D-Street on Tuesday after a sharp fall seen in the previous session as Nifty reclaimed its crucial resistance level of 9,100.

Long-term investors should continue with their positions as long as 9,075 holds. Going forward, it is important for Nifty to break past 9,133 on a closing basis to witnessed buying momentum.

Wadia Group, one of India’s oldest business conglomerates, has agreed to acquire a 25 percent stake held by Belgium’s Solvay Chemicals in National Peroxide in a deal that will mark the end of a 45-year-old partnership with the Brussels-headquartered firm, multiple sources with direct knowledge of the transaction told ET.

The deal, which is expected to be announced as early as Wednesday, will be an inter-partner off-market block transaction.

The government will borrow Rs 3.72 lakh crore from the market in the first six months of the next fiscal beginning April. The borrowing represents 64 per cent of the full-year borrowing target, said a report.

The government has budgeted a gross market borrowing of Rs 5.8 lakh crore and net borrowing at Rs 4.25 lakh crore for FY18. The fiscal deficit is pegged at 3.2% of GDP for the year, a report quoted.

Hindustan Zinc will be in focus as it turns ex-dividend on Wednesday. The company is paying Rs 27.50 a share as second interim dividend for fiscal 2016-17. The record date for the dividend is March 30.

Mahindra Lifespace Developers will also be in focus as it turns ex-rights on Thursday. It has fixed the price at Rs 292 a share for its Rs 300-crore rights issue. The entitlement ratio is 1:4.