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

Indian equity market started the week on a negative note on the back of weak global cues.

Market sentiments took a hit by rising concerns over fast-spreading coronavirus, as it might lead to a slowdown in the global economy, said experts. Investors were also cautious ahead of the Union Budget which is scheduled for later this week.

Sensex witnessed the second biggest fall in January, dropping to its lowest level in a month. The index closed 458 points, or 1.10 percent, down at 41,155.12. Nifty finished with a loss of 129 points, or 1.06 percent, at 12,119.

According to the pivot charts, the key support level for Nifty is placed at 12,078.47, followed by 12,037.93. If the index moves up, key resistance levels to watch out for are 12,188.07 and 12,257.13.

Nifty Bank closed 1.29 percent down at 30,837.40. The important pivot level, which will act as crucial support for the index, is placed at 30,688.3, followed by 30,539.2. On the upside, key resistance levels are placed at 31,106.8 and 31,376.2.

US stocks suffered their worst day in over three months on Monday as China extended the Lunar New Year holiday due to a virus outbreak, fuelling worries about the economic impact of containment efforts in the world’s second largest economy.

The Dow Jones Industrial Average fell 453.93 points, or 1.57%, to 28,535.8, the S&P 500 lost 51.84 points, or 1.57%, to 3,243.63 and the Nasdaq Composite dropped 175.60 points, or 1.89%, to 9,139.31.

Asian stocks extended a global selloff on Tuesday as China took more drastic steps to combat the coronavirus, while bonds found favor on expectations central banks would need to keep stimulus flowing to offset the likely economic drag.

MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.8% in early Asian trading on Tuesday. Japan's Nikkei was 0.7% down, Australian shares stumbled 1.3% and South Korea's Kospi index skidded 2.6%.

Trends on SGX Nifty indicate a negative opening for the broader index in India, with a 20 points loss or 0.17 percent. The Nifty futures were trading around 12,096-level on the Singaporean Exchange.

Oil futures slipped on Tuesday, extending losses into a sixth session as the spread of a new virus in China and other countries raised concerns about a hit to economic growth and slower oil demand.

Brent crude was down 15 cents, or 0.3%, to $59.17 at around 0114 GMT, after touching a three-month low on Monday at $58.50. US West Texas Intermediate was down 12 cents, or 0.2%, at $53.02, after slipping to its lowest since early October in the previous session at $52.13.

The Statistics and Programme Implementation Ministry (MOSPI) on November 15 said it has decided not to release the Consumer Expenditure Survey results of 2017-18 due to data quality issues. According to several reports that cited leaked portions of the NSS data for 2017-18, consumption expenditure saw a decline in absolute terms for the period 2011-12 to 2017-18.

However, a recent study suggests that contrary to the NSS data, consumption expenditure has in fact grown for the said period, Mint reports. However, the study does point out that the growth has taken place at a lower pace.

Markets regulator Sebi has reorganised the committee that advises it on matters related to secondary market, including suggesting steps to improve market safety, efficiency and transparency. The Secondary Market Advisory Committee is chaired by IIM Ahmedabad Professor and former whole-time member of Sebi, Jayanth R Varma, the latest update with the Securities and Exchange Board of India (Sebi) showed.

The rupee declined by 10 paise to settle at 71.43 against the US dollar on Monday, amid heavy selling in domestic equities following increasing concerns over spreading of coronavirus from China to other countries. Forex traders said the Indian rupee and bonds declined in line with other Asian peers after intensifying coronavirus spread from China to other countries. However, easing crude oil prices supported the domestic unit.

At the interbank foreign exchange market, the local currency opened on a weak note at 71.51. During the day, the local unit gained some ground and finally settled for the day at 71.43 against the US dollar, down 10 paise over its previous close.

Markets regulator Sebi on January 27 rationalised margin framework for the commodity derivatives segment, wherein clearing corporations will have to categorise commodities as per their realised volatility. In addition, clearing corporations have been asked to prescribe floor values of initial margin as well as margin period of risk (MPOR) depending upon their categories, the Securities and Exchange Board of India (Sebi) said in a circular.

Given the wide variation of liquidity and volatility among different commodity derivatives, the regulator in consultation with other stakeholders has decided to rationalise the margin system.

Foreign institutional investors (FIIs) sold shares worth Rs 438.85 crore, while domestic institutional investors (DIIs) bought shares of worth Rs 10.51 crore in the Indian equity market on January 27, provisional data available on the NSE showed.

Yes Bank is under the F&O ban for January 28. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.