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

Bulls made a strong come back on Wednesday. The Nifty50 after gap up opening continued to inch higher as the day progressed and reclaimed 10,450 levels, driven by financial space after SBI decided to purchase loan assets worth up to Rs 45,000 crore from NBFCs.

The index closed sharply higher and formed bullish candle on the daily charts, negating the formation of lower highs for previous six consecutive trading sessions.

If the 50-share NSE index sustains above 10,300 levels then it can cross 10,700 levels followed by 10,850 levels, the critical hurdle, experts said.

The Nifty50 opened higher at 10,331.85 and extended gains as the day progressed. The index touched an intraday high of 10,482.35, before closing 159.10 points higher at 10,460.10.

India VIX fell by 8.83 percent to 18.01 levels. Decline in VIX from higher levels with a topping out formation have given a short term stability and immediate bounce back move to the market. Now VIX has to further cool down below 16-15 zones to extend the market recovery, experts said.

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.

Stocks on major world markets slid to a three-month low on Wednesday, with the benchmark S&P500 stock index falling more than 3.0 percent, its biggest one-day fall since February. Technology shares tumbled on fears of slowing demand, while bond yields ended lower after seeing multi-year highs earlier this week.

The Dow Jones Industrial Average fell 831.83 points, or 2.2 percent, to 25,598.74. The S&P 500 lost 94.66 points, or 3.29 percent, to 2,785.68 and the Nasdaq Composite dropped 315.97 points, or 4.08 percent, to 7,422.05.

Asian share markets sank on Thursday after Wall Street suffered its worst drubbing in eight months, a conflagration of wealth that could threaten business confidence and investment across the globe. It also raised the stakes for US inflation figures due later on Thursday as a high outcome would only stoke speculation of more aggressive rate hikes from the Federal Reserve.

MSCI’s broadest index of Asia-Pacific shares outside Japan shed 0.9 percent to its lowest in 17 months. Japan’s Nikkei sank 3.2 percent in early trading, which would be the biggest daily drop since March.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a plunge of 240 points or 2.29 percent. Nifty futures were trading around 10,240-level on the Singaporean Exchange.

The investment cycle for the US stock markets has reached a "tipping point", according to Business Insider report that quoted Morgan Stanley. The equities research at the financial services company says value stocks will soon make a comeback against growth stocks, the news website reported.

Growth stocks, known for their potential to generate high returns, are beginning to stumble, according to Morgan Stanley. The real advantage of growth stocks such as Facebook, Alphabet, Amazon, and Netflix compared with value stocks is coming to an end. Morgan Stanley's conclusion is based on the recent spike in US bond yields, which led to a broad sell-off in global markets.

Oil dropped on Thursday to extend big losses from the previous session as global stock markets suffered a rout, with crude prices also taking a hit from a weekly industry report showing US crude inventories had risen more than expected.

Brent crude futures were down 66 cents, or 0.8 percent, at $82.43 a barrel by 0024 GMT. The global oil benchmark closed 2.2 percent lower on Wednesday after falling to a nearly two-week low. US West Texas Intermediate (WTI) crude futures were down 57 cents, or 0.8 percent, at $72.60 after dropping 2.4 percent in the previous session.

The rupee snapped its six-session losing streak to end 18 paise higher at 74.21 against the US dollar on October 10 after the American currency weakened overseas. At the Interbank Foreign Exchange (Forex), the domestic unit opened higher at 74.18 and advanced to 74.05 on fresh dollar selling by exporters amid weakness in the greenback against some currencies overseas.

The FBIL set the reference rate for the dollar at 74.1316 per dollar. The reference rate for euro was fixed at 85.2637 and for the British pound at 97.6284. The reference rate for 100 Japanese yen was 65.60.

Tata Consultancy Services is set to kick off July-September quarter earnings season on October 11. Almost all analysts on the Street have already predicted that the rupee tailwind is likely to play a big role in earnings of IT companies. Experts suggest that the effect of currency depreciation is likely to be seen for couple of quarters, and that the stock prices seem to have priced in this momentum.

Most analysts expect TCS to lead the sector with revenue growth in the range of 3.5-4.5 percent, sequentially. ICICI Securities expects profit to grow 7.7 percent sequentially to Rs 7,905.4 crore, while Emkay sees profit growth at 8.6 percent QoQ. Sharekhan expects bottomline growth of around 8.8 percent QoQ.

The government has announced to cut excise duty on aviation turbine fuel (ATF) from 14 to 11 percent effective October 11. The move, will not only provide relief to airlines, but will keep airfares in check. The announcement was made by the Revenue Department in a notification on October 10.

The measure comes as higher ATF prices and a weaker rupee are troubling airline finances. Recently, the government cut excise duty on petrol and diesel, in what seemed like a move to appease the masses ahead of the 2019 general elections.

Private equity (PE) and venture capital (VC) investments in the third quarter of 2018 fell 23 percent, compared with a year ago to $6.6 billion, according to consultancy EY’s Private Equity Deal Tracker. This is despite a 29 percent increase in the number of deals, from 138 to 178.

The decline in investments was primarily on account of fewer large deals valued greater than $100 million. The third quarter was also the most underperforming three-month period so far this calendar year, both in terms of investment and exits, said EY, Mint reported

Securities in ban period for the next day's trade under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.

For October 11, IDBI Bank is present in this list.