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

The Nifty, which started with a gap-up, failed to hold on to gains and closed the session lower on Monday, forming a bearish candle on the daily charts which also resembles a 'Dark Cloud Cover' kind of pattern on the daily charts.

The NSE Nifty which opened at 10,732.35 rose to an intraday high of 10,736.15 but then bears took control at Dalal Street and pushed the index towards 10,600 levels. It hit an intraday low of 10,604.65 but managed to recoup half of losses in the last couple of hours of trade before closing the day at 10,657.30, down 57 points.

The index closed below 13-EMA, 5-EMA, and 50-EMA but still maintained the crucial support which is 100-EMA at 10,575. Formation of a Dark Cloud Cover after a bullish candle does not augur well for the bulls and traders should avoid short term bets for the time being, experts suggest.

India VIX moved up by 3.94 percent at 13.37 levels. On the option front, maximum Put open interest (OI) was seen at 10,600 followed by 10,500 strike while maximum Call OI was seen at 11,000 followed by 10,800 strike.

According to Pivot charts, the key support level is placed at 10,595.93, followed by 10,534.57. If the index starts moving upwards, key resistance levels to watch out are 10,727.43 and 10,797.57.

The Nifty Bank index closed at 26,230.3 on Monday. The important Pivot level, which will act as crucial support for the index, is placed at 26,070.07, followed by 25,909.83. On the upside, key resistance levels are placed at 26,381.07, followed by 26,531.83.

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.

Wall Street ended higher on Monday after a choppy session, with gains in Apple and other technology stocks offsetting worries about an escalating trade war between Washington and its trading partners.

The Dow Jones Industrial Average rose 0.15 percent to end at 24,307.18 points, while the S&P 500 gained 0.31 percent to 2,726.71. The Nasdaq Composite added 0.76 percent to 7,567.69.

Asian markets edged cautiously higher on Tuesday, retracing some of the sharp declines seen in the overnight session as stocks tracked gains seen on Wall Street although worries over US trade policy lingered in the background.

The Nikkei 225 advanced 0.22 percent in early trade after steep losses seen in the previous session while the Kospi edged up by 0.29 percent, with technology stocks and manufacturers gaining.

Oil prices climbed on Tuesday after Libya declared force majeure on significant amounts of its supply, but rising overall output from OPEC as well as in the United States was dragging on markets.

Brent crude oil futures were at USD 78.06 per barrel up 76 cents, or 1 percent, from their last close. US West Texas Intermediate (WTI) crude futures were up 75 cents, or 1 percent, at USD 74.69.

Trends on SGX Nifty indicate a flat opening for the broader index in India, a rise of 5 points or 0.05 percent. Nifty futures were trading around 10,655-level on the Singaporean Exchange.

Growth of eight infrastructure industries dropped to a 10-month low of 3.6 percent in May due to a decline in production of crude oil and natural gas. The eight sectors, which also include coal, refinery products, fertilisers, steel and cement, had expanded by 3.9 percent in May 2017, according to the data released by the commerce and industry ministry yesterday.

This is the lowest growth rate since July 2017 when infrastructure industries had expanded by 2.9 percent. The growth rate in April was 4.6 percent. The growth rate of refinery products, steel and electricity declined to 4.9 percent, 0.5 percent and 3.5 percent in May from 5.4 percent, 3.8 percent and 8.2 percent respectively in May 2017.

Finance Minister Piyush Goyal has said India will be able to restrict the fiscal deficit below the budgeted level of 3.3 percent of GDP in 2018-19, which has hit 55 percent of the annual target in the first two months of the financial year.

The government has budgeted to contain fiscal deficit at 3.3 percent of GDP in current financial year which began in April, lower than 3.53 percent in 2017-18 fiscal.

A government panel has suggested creating an asset management company (AMC) to resolve bad loans above 5 billion rupees ($73 million), among steps to clean up the banking sector, the interim finance minister said on Monday.

The panel of bankers was formed last month as lenders, already burdened by a near-record 9.5 trillion rupees of soured loans as of last year, reported a further rise in bad loans in the quarter to March after the central bank withdrew half a dozen loan-restructuring schemes and tightened some rules.

“This is a completely bank-led resolution process and there is no immediate role for the government in this,” minister Piyush Goyal told reporters in a late-night news conference, adding that banks can transfer bad assets to the AMC or an alternate investment fund depending on market conditions.

The government on Monday agreed to a five-pronged strategy to resolve toxic loans, with the larger ones among them going to an asset management company (AMC) or an alternative investment fund (AIF).

Finance minister Piyush Goyal, who accepted the report by a committee of bankers set up in this regard, told reporters that the strategy, called Project Sashakt, will help retain the value of the asset through operational turnaround. The finance ministry had set up the committee, led by Punjab National Bank chairman Sunil Mehta, in June, Mint reported.

Angel funds will have to disclose details related to investment as well as venture capital undertakings and "material changes", within 10 days of launching a scheme, markets regulator Sebi said. Releasing the format of the term sheet, the regulator said that angel fund can launch new schemes, subject to the filing of the term sheet, it needs to contain material information and have to be filed with Sebi within 10 days of launching the scheme.

The markets regulator, last month, had replaced the requirement of filing of scheme memorandum to Sebi by angel funds with the requirement of filing term sheet containing material information.

The rupee will slide to Rs70 to a dollar level if portfolio flows do not revive by December, and this may lead the government to raise money by selling bonds to the diaspora again, a BofAML report said on Monday.

If the foreign portfolio investment flows do not revive by December, the rupee will depreciate further to over Rs70 to a dollar, analysts at Bank of America Merill Lynch said in a note. Such an eventuality may lead the government to look at getting foreign inflows through the NRI bonds, which has been done thrice earlier, it said.

Bharat Hotels, which runs five-star properties under 'The LaLiT' brand, has filed draft prospectus with capital markets regulator to garner Rs 1,200 crore through its initial share-sale. The initial public offer (IPO) comprises sale of fresh equity shares to the tune of Rs 1,200 crore, according to the draft papers filed with the Securities and Exchange Board of India (Sebi).

HDFC Bank Ltd, Edelweiss Financial Services Ltd and YES Securities (India) Ltd will manage the company's public issue. As of March 2018, the company operated 12 luxury hotels, palaces and resorts under The LaLiT brand and two mid-market segment hotels under The LaLiT Traveller brand across the country's key business and leisure travel destinations, offering 2,261 rooms.