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Last Updated : Oct 11, 2019 07:49 AM IST | Source: Moneycontrol.com

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

Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 16.5 points gain or 0.15 percent.

Sandip Das @Im_Sandip1

Benchmark indices ended in the red on October 10 with Sensex closing 297.55 points lower at 37,880.40 while Nifty fell 78.80 points to close at 11,234.50. The market breath remained in favour of declines, as 1 share advanced for every 2 shares fall.

On the sectoral front, selling was seen in the bank, metal, FMCG, auto and IT stocks while some buying interest was seen in select energy and infra stocks.

Close

According to the pivot charts, the key support level for Nifty is placed at 11,195.37, followed by 11,159.53. If the index starts moving up, key resistance levels to watch out for are 11,280.17 and 11,329.13.

Nifty Bank closed with a loss of 2.68 percent at 28,013.45. The important pivot level, which will act as crucial support for the index, is placed at 27,804.93, followed by 27,596.16. On the upside, key resistance levels are placed at 28,387.63 and 28,761.57.

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:

US Markets

US stocks rose on Thursday on hopes that top-level US-China trade talks would yield at least a partial deal, while a jump in Apple’s shares also boosted the market.

The Dow Jones Industrial Average rose 150.66 points, or 0.57%, to 26,496.67, the S&P 500 gained 18.73 points, or 0.64%, to 2,938.13 and the Nasdaq Composite added 47.04 points, or 0.6%, to 7,950.78.

Asian Markets

Asian shares and US stock futures rose on Friday after US President Donald Trump said he would meet with China’s top trade negotiator, while sterling retreated after rallying on revived hopes of a possible Brexit deal.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.5%, following on from gains on Wall Street. Australian shares climbed 0.8%, while Japan's Nikkei stock index gained 0.9%.

SGX Nifty

Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 16.5 points gain or 0.15 percent. Nifty futures were trading around 11,277-level on the Singaporean Exchange.

US-China trade talks went very well on Thursday: Trump

US President Donald Trump said trade talks between US and Chinese officials on Thursday went very well and the two sides had a very, very good negotiation.

Trump was speaking to reporters at the White House after top US and Chinese negotiators met for the first time since late July to try to ease a bitter 15-month trade war.

Oil prices rise as OPEC pledges decision on supply

Oil prices rose on Thursday, buoyed by comments by the head of OPEC that the organization could take action to balance oil markets and will decide in December on supply for next year.

Global benchmark Brent crude futures settled up 78 cents or 1.3% at $59.10 a barrel. In post-settlement trade, Brent extended gains to rise $1 on the day to $59.32 a barrel. US West Texas Intermediate (WTI) futures were up 96 cents, or 1.8%, at $53.55 a barrel.

Rupee settles flat as US-China trade talks kept investors edgy

The rupee closed flat at 71.07 against the US dollar on Thursday as the anxiety over US-China trade talks kept investors on the edge. At the interbank foreign exchange market, the rupee had opened at 70.96 against the US dollar. During the day, the domestic unit fluctuated between a high of 70.87 and a low of 71.15.

The rupee finally settled at 71.07, unchanged from its previous close.

Sebi comes out with framework for issuance of depository receipts

Markets regulator Sebi on Thursday came out with a detailed framework for issuance of depository receipts (DRs), a move that will provide Indian companies increased access to foreign funds. The new framework would come into force with immediate effect, the Securities and Exchange Board of India (Sebi) said in a circular.

The framework comes after Finance Minister Nirmala Sitharaman in August said that the markets regulator would soon implement the Depository Receipt Scheme 2014. "This will give Indian companies increased access to foreign funds through American Depository Receipt (ADR)/ Global Depository Receipt (GDR)," she said.

Gold ETFs catch investors' eye in September, attract inflows for second consecutive month

Gold exchange-traded funds garnered Rs 44 crore in September, making it the second straight month of inflows, as trade conflicts, signs of a global slowdown and decline in equities made investors bet big on the safe-haven asset. This comes on the back of a net infusion of Rs 145 crore in gold exchange-traded funds (ETFs) in August. It was the first inflow since November last year, when Rs 10 crore was infused in such instruments.

According to the latest data available with the Association of Mutual Funds in India (AMFI), Rs 44 crore was pumped in gold-linked ETFs last month as compared to an outflow of Rs 34 crore in September 2018.

Govt constitutes panel to suggest measures to augment GST revenue

With the Goods and Services Tax (GST) collections dropping sharply to a 19-month low in September, the government has constituted a committee of officers to suggest measures to augment collections, expand the tax base and check evasion.

The panel comprising of state-level GST commissioners and centre government officials has been asked to suggest urgent measures to arrest the fall in tax revenues and suggest steps to be taken to improve revenue collection. "The committee should consider a wide range of reforms so that a comprehensive list of suggestions may emerge," an official order said.

UK economy shrinks as Brexit looms

Britain's economy contracted in August, official data showed Thursday ahead of the nation's exit from the European Union later this month. Gross domestic product -- the combined value of all goods and services produced in the economy -- slid 0.1 percent in August from July, the Office for National Statistics said in a statement.

That contrasted with upwardly-revised monthly expansion of 0.4 percent in July. On a brighter note however, the ONS also revealed that the economy grew 0.3 percent in the three months to August compared with the previous quarter.

With inputs from Reuters & other agencies

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First Published on Oct 11, 2019 07:42 am
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