Indian markets witnessed a revival in sentiment on the Muhurat Trading session held on October 27, as both Sensex and Nifty50 managed to close above crucial resistance levels.
The Sensex closed 192 points, or 0.49 percent higher at 39,250.20 with 19 stocks in the green, while the Nifty closed 43 points, or 0.37 percent, up at 11,627.
Tata Motors, Yes Bank, Vedanta, Infosys and Mahindra & Mahindra settled as the top gainers in the Sensex, but Maruti, Bharti Airtel, HCL Technologies and TCS ended as the top losers.
Secondary indices BSE Midcap and Smallcap outperformed the benchmark, closing with gains of 0.69 percent and 1.20 percent, respectively.
Stay tuned to Moneycontrol to find out what happens in currency and equity markets today. We have collated a list of important headlines across news platforms which could impact Indian as well as international markets:
S&P hit a record high:
The S&P 500 hit a record high amid hopes of a deal between the United States and China and investors looked toward a Federal Reserve rate cut later this week.
"President Donald Trump said on Monday he expected to sign a significant part of a trade deal with China ahead of schedule but did not elaborate on the timing, building on optimism from Friday when Washington said it was “close to finalizing” some parts of a trade deal," said a Reuters report.
The Dow Jones Industrial Average rose 132.25 points, to 27,090.31, the S&P 500 gained 16.79 points, to 3,039.34 and the Nasdaq Composite added 82.87 points to close at 8,325.99.
Asian Markets@ 3-Month peak:
Asian shares scaled a three-month high after Wall Street hit all-time peaks amid hopes of progress in Sino-U.S. trade talks and for another dose of policy stimulus from the Federal Reserve this week.
"Japan's Nikkei led the way with a rise of 0.6% to reach ground last trod a full year ago. MSCI's broadest index of Asia-Pacific shares outside Japan crept up 0.2% in early trade to its highest since late July," said a Reuters report.
SGX Nifty:
Trends on SGX Nifty indicate a positive opening for the broader index in India, with an 11 points gain or 0.09 percent. The Nifty futures were trading around 11,677-level on the Singaporean Exchange. SGXNifty closed at 11,664 on Friday, 25 October.
Institutional Activity:
Token buying was seen by institutional investors as well. FPI were net buyers in Indian markets for Rs 6.6 cr while DIIs also poured in Rs 54 cr, provisional data showed.
September quarter results on Tuesday:
As many as 17 companies will declare their results for the September quarter which include names like Bharti Airtel, Peronet LNG, Tata Metaliks, and Hindustan Zinc, etc. among others.
Bharti Airtel: Likely to report a loss of Rs 1387 cr
Petronet LNG: PAT likely to grow by 18% YoY
Hindustan Zinc: PAT likely to grow marginally by 0.4% YoY
(All the estimates are from Motilal Oswal)
Good news! Gold likely to surge up to Rs 42K by Dec 2019
Geo-political uncertainties, sustained Central bank buying and weak rupee against US dollar will keep gold under pressure and are likely to push the prices up to Rs 42,000 per 10 grams level by the end this year, according to analysts.
15 people injured in Sopore grenade attack
At least 15 people were injured on October 28 when terrorists lobbed a grenade at a bus stand in Jammu and Kashmir's Sopore town, police said.
The attack, which comes a day before a delegation of Members of European Union Parliament visit Kashmir, took place in the main town square of Sopore, CNN-News18 reported.
Brexit extension till January 31
European Council (EU) President Donald Tusk said on October 28 that the 27 countries that will remain in the EU after Britain leaves it have agreed to accept London's request for a Brexit extension until 31 January 2020.
"The EU27 has agreed that it will accept the UK's request for a Brexit flextension until 31 January 2020," Tusk said in a tweet.
Hong Kong enters recession!
Hong Kong has fallen into recession, hit by more than five months of anti-government protests that show no signs of relenting, and is unlikely to achieve annual economic growth this year, Reuters said in a report quoting city's Financial Secretary.
"The blow to our economy is comprehensive," Paul Chan said in a blog post on October 27, adding that a preliminary estimate for third-quarter GDP on October 24 would show two successive quarters of contraction - the technical definition of a recession.
FPIs remain net buyers in Oct; pump in over Rs 3,800 cr
Indian capital markets witnessed a net inflow of over Rs 3,800 crore by foreign portfolio investors (FPI) in October so far on the back of steps taken by the government to revive domestic demand coupled with positive global cues.
The depositories data showed that overseas investors pumped in a net amount of Rs 3,769.56 crore into equities and Rs 58.4 crore in the debt segment, taking the total net investment to Rs 3,827.9 crore in this month so far.
Oil prices edge lower:
Good news for Indian markets as crude oil prices edged lower on Tuesday amid concerns about slower economic growth overshadowed signs of a thawing in the trade war between Washington and Beijing, while investors awaited U.S. inventory data. Crude prices trading over $61.50/bbl.
Trends on SGX Nifty indicate a negative opening for the broader index in India, with a 30 points loss or 0.26 percent. Nifty futures were trading around 11,585-level on the Singaporean Exchange.
With inputs from Reuters & other agencies
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