What changed for the market while you were sleeping? 12 things to know

The Nifty50 after opening gap down extended losses as the day progressed and broke the psychological 11,500-mark on Monday, tracking further weakness in Indian rupee which ended at new record closing low of 72.45 to the dollar. The renewed trade tensions between US and China also dented sentiment.

The index closed sharply lower, forming 'Bearish Belt Hold' pattern on the daily candlestick chart.

According to Pivot charts, the key support level is placed at 11,385.93, followed by 11,333.77. If the index starts moving upwards, key resistance levels to watch out are 11,531.63 and 11,625.17.

The Nifty Bank index closed at 27,201.75, down 279.70 points on Monday. The important Pivot level, which will act as crucial support for the index, is placed at 27,094.67, followed by 26,987.53. On the upside, key resistance levels are placed at 27,356.87, followed by 27,511.94.

Stay tuned to Moneycontrol to find out what happens in currency and equity markets today. We have collated a list of important headlines from across news agencies.

US stocks mostly edged higher on Monday, with the S&P 500 and Nasdaq rebounding to snap a four-day losing streak, although a drop in Apple kept gains in check. The Dow Jones Industrial Average fell 59.47 points, or 0.23 percent, to 25,857.07, the S&P 500 gained 5.45 points, or 0.19 percent, to 2,877.13 and the Nasdaq Composite added 21.62 points, or 0.27 percent, to 7,924.16.

Asian shares were struggling to snap an eight-session losing streak on Tuesday as investors decided no news was good news on tariffs, while the pound touched a five-week top on hints a Brexit deal might be nearer.

MSCI’s broadest index of Asia-Pacific shares outside Japan wavered either side of flat having hit its lowest since July last year on Monday. Japan’s Nikkei fared better on the back of a softer yen and climbed 0.6 percent.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 21 points or 0.18 percent. Nifty futures were trading around 11,465-level on the Singaporean Exchange.

China's government says it will retaliate if Washington goes ahead with more tariff increases following President Donald Trump's comment that he was considering extending penalties to more Chinese imports.

A foreign ministry spokesman, Geng Shuang, said Monday that Beijing "will definitely take countermeasures to safeguard its legitimate rights" if Trump goes ahead with a new round of tariffs.

US President Donald Trump received a letter from North Korean leader Kim Jong Un asking for a second meeting and the White House is already looking at scheduling one, White House spokeswoman Sarah Sanders said on Monday.

The timing of a second Trump-Kim meeting was unclear. The sidelines of the United Nations General Assembly in New York later this month may provide an opportunity, although Trump National Security Adviser John Bolton said he did not believe Kim would attend.

The Indian rupee on September 10, 2018 ended the session on a record low note of 72.45 per US dollar. Multiple factors such as global trade war concerns, selloff in emerging markets along with worries on domestic macro front after trade and current account deficits widened, weighed on it. The currency did manage to recover from its low points, an intraday low of 72.67 per US dollar. On Friday, the currency had closed at 71.73 per US dollar.

Oil was steady on Tuesday, supported by looming US sanctions against Iran’s petroleum industry. But prices were capped by signs that increased supplies by other major producers, including the United States and Saudi Arabia, could make up for the disruptions from Iran.

US West Texas Intermediate (WTI) crude futures were at $67.61 per barrel at 0112 GMT, up 7 cents from their last settlement. Brent crude futures climbed 11 cents to $77.48 a barrel.

India is the only major emerging market having a negative balance of payments (BoP) and the pressure is expected to sustain, a Swiss brokerage said, expecting the rupee to depreciate to 73 by March 2019. Shortfalls in GST collection and divestments, coupled with state finances being under strain will take the consolidated fiscal deficit to 6.5 percent in FY19, against the government's budget estimate of 5.9 percent, UBS said.

"We revise our FY19 current account deficit (CAD) forecast to 2.7 percent of GDP in FY19 from 2.5 percent, much above the sustainable threshold. This would put India's overall BoP in a deficit of around 1 percent of GDP, the first in seven years," the brokerage said.

A cut in taxes on petrol and diesel is ruled out for now as neither the central government nor some states have the appetite to stomach revenue loss from such a move, a top government official said. While a cut in excise duty that the central government levies will impact fiscal deficit, states like Bihar, Kerala, and Punjab are not in a position to cut sales tax (or VAT), an official said.

India's economic growth is expected to moderate in the second half of this financial year after a strong first quarter, owing to tighter financial conditions, high oil prices and slowing global growth, says a UBS report. The global financial services major expects real GDP growth to slow to 7-7.3 percent in the second half of this fiscal from 8.2 percent in June 2018 quarter.

On the monetary policy front, the report said that the Monetary Policy Committee (MPC) of the Reserve Bank is expected to take a breather in the near-term amid rising global uncertainties like trade wars and oil prices.

India's share in the GDP of Asia and Pacific region has increased to 17.3 percent in 2017 from 14.6 percent in 2000, a ADB report said Monday. As per the ADB's report on 'Key Indicators for Asia and the Pacific 2018', the Asia and Pacific region accounts for more than two-fifths of the share of global GDP in PPP (Purchasing Power Parity) terms.

Asia and the Pacific's growing share of global output, which increased from 30.1 percent to 42.6 percent during the review period, came at the expense of the global shares of North America, Europe, South America, and the rest of the world, which declined by 6.8, 4.7, 1.3, and 0.3 percentage points, respectively.

BSE along with PTC India and ICICI Bank have filed a petition with the power market regulator CERC for grant of license to set up a new power exchange. The proposed exchange will leverage on experience and expertise of its stakeholders in their fields knowledge of the power sector, funding of power projects and associated infrastructure, setting-up and running various bourses and platforms in the country, BSE said in a statement Monday.

The proposed power exchange will offer the market participants a credible power trading platform.