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

Benchmark indices started off November month on a flat note on Thursday after losing around 5 percent in previous month. It was a roller coaster ride for the market amid mixed quarterly earnings and October sales. The broader markets outperformed frontliners with Nifty Midcap index gaining 0.87 percent.

The Nifty index after opening sharply higher at 10,441.70, which was also the intraday high, traded in a tight range of 70 points throughout the session. It touched a day's low of 10,341.90, before closing 6.10 points lower at 10,380.50.

The index made small bearish candle on daily charts, which resembles a 'Bearish Belt Hold' kind of pattern.

According to Pivot charts, the key support level is placed at 10,334.3, followed by 10,288.1. If the index starts moving upwards, key resistance levels to watch out are 10,434.3 and then 10,488.1.

The Nifty Bank index closed at 25,323.65, up 170.40 points on Thursday. The important Pivot level, which will act as crucial support for the index, is placed at 25,168.2, followed by 25,012.7. On the upside, key resistance levels are placed at 25,440.4, followed by 25,557.1.

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 rose for a third straight session on Thursday as President Donald Trump said trade talks with China were “moving along nicely,” reviving hopes that the two countries can resolve their trade dispute. After the bell though, shares of Apple Inc fell about 7 percent, pushing its market capitalisation below $1 trillion, after the company said sales for the crucial holiday quarter could miss Wall Street expectations. The stock ended the regular session up 1.5 percent.

The Dow Jones Industrial Average rose 264.98 points, or 1.06 percent, to 25,380.74, the S&P 500 gained 28.63 points, or 1.06 percent, to 2,740.37 and the Nasdaq Composite added 128.16 points, or 1.75 percent, to 7,434.06.

Asian equity markets rose on Friday as China and the United States expressed optimism about resolving their bruising trade war, though a warning from tech giant Apple Inc on holiday sales amid emerging market weakness could weigh on technology shares.

MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.46 percent. Australian shares were down 0.18 percent, while Japan's Nikkei stock index was up 1.27 percent.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 80 points or 0.77 percent. Nifty futures were trading around 10,495-level on the Singaporean Exchange.

President Xi Jinping sought to reassure Chinese entrepreneurs at a meeting with promises to prop up private firms with lower taxes and more funding, as he acknowledged uncertainty in China's economy. Xi held the meeting amid signs that the world's second-largest economy is losing steam as it faces a trade war with the United States, a massive debt buildup and a weakening currency.

Xi also emphasised creating a fair and competitive business environment and tasked local governments with "correcting" the behaviour of certain government departments, as well as large companies that use their dominance to "bully" smaller firms.

US President Donald Trump on November 1 said trade discussions with China were "moving along nicely" and that he planned to meet with Chinese President Xi Jinping at the upcoming G-20 summit, after the two had a "very good" talk.

"Just had a long and very good conversation with President Xi Jinping of China. We talked about many subjects, with a heavy emphasis on Trade," Trump wrote in a post on Twitter. "Those discussions are moving along nicely with meetings being scheduled at the G-20 in Argentina. Also had good discussion on North Korea!"

The RBI needs to work in consultation with industry to ensure that there is sufficient liquidity in the system so that consumer sentiments are not impacted in the ongoing festive season, a CII-Ascon study suggested. The participants of the study were office bearers of industry associations from across sectors such as automobiles, electrical equipment, power, SMEs, and infrastructure.

"SME sector in particular is impacted by the additional requirement for collateral and higher cost of credit which is leading to tighter funding. Working capital is under pressure and cash flow is getting affected," it said.

India, for the third time, extended the deadline for the imposition of higher customs duties on 29 US products, including almond, walnut and pulses, by another 45 days until December 17, the government said November 1. According to a notification by the finance ministry, the implementation of the duty hike has been postponed until December 17.

As part of imposition of higher import duties, New Delhi has notified higher tariffs on several products. While import duty on walnut is to be hiked to 120 percent from 30 percent, duty on chickpeas, Bengal gram (chana) and masur dal will be hiked to 70 percent from 30 percent. Levy on lentils will be hiked to 40 percent from 30 percent.

German exchange group Deutsche Boerse is revamping its Asian business with the launch of its European Energy Exchange (EEX) in Singapore, looking to boost its business in the world's fastest-growing commodity markets.

Deutsche Boerse, which has global ambitions for EEX, said it would rebrand its Singapore-based subsidiary Cleartrade Exchange (CLTX) as EEX Asia, offering futures contracts on freight and seaborne commodities such as fuel oil and iron ore. "We have the ambition to become a global commodities exchange," said Egbert Laege, EEX Group board member and its head of global commodities.

Oil prices dipped on Friday as record crude output by the world’s top-three producers offset supply concerns from the start of US sanctions next week against Iran’s petroleum exports.

Front-month Brent crude futures were at $72.86 per barrel at 0041 GMT on Friday, down 3 cents from their last close. US West Texas Intermediate (WTI) crude futures were down 16 cents at $63.53 a barrel.

The finance ministry, displeased with the RBI for going public with its criticism of the government, has got the backing of the Economic Advisory Council to the Prime Minister (PMEAC) in driving home the point that the central bank’s autonomy has limits. Bibek Debroy, chairman of the six-member PMEAC, said that the central bank could not claim absolute autonomy.

“RBI is not truly, truly independent. No central bank is. In our system, the monetary policy is not completely delinked from fiscal policy,” Debroy said. The PMEAC chairman cited the comment of former central bank governor Y.V. Reddy in his autobiography Advice and Dissent that RBI is independent but within the limits set by the government, Mint reported.

Sebi on Thursday said it will launch Unified Payments Interface as an alternative payment option for retail investors, buying shares in a public issue, in a phased manner from 1 January next year, which will cut listing time for an IPO to three days from six at present.

As a part of the continuing efforts to further streamline the process, Sebi has decided, in consultation with the stake holders to introduce the use of UPI as a payment mechanism with Application Supported by Block Amount (ASBA) for applications in public issues by retail investors through intermediaries.

As many as 228 companies will be reporting their results for the quarter ended September which include names like Allahabad Bank, Axis Bank, Bata India, Max India, NTPC, SAIL, Sun TV, Tata Chemicals, V-Mart and TV Today among others.