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

The Nifty Bank index closed at 25,771.0 on Friday. The important Pivot level, which will act as crucial support for the index, is placed at 25,638.93, followed by 25,506.87. On the upside, key resistance levels are placed at 25,506.87, followed by 25,954.87.

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.

Oil slide, China worries send Wall Street tumbling

Wall Street’s three major stock indexes lost ground on Friday, after a week of recovery from the October sell-off, as oil prices fell further and more evidence of a slowing Chinese economy was reported.

The Dow Jones Industrial Average fell 201.92 points, or 0.77 percent, to 25,989.3, the S&P 500 lost 25.82 points, or 0.92 percent, to 2,781.01 and the Nasdaq Composite dropped 123.98 points, or 1.65 percent, to 7,406.90.

Asia stocks pressured on global growth worries, oil woes

Asian shares fell on Monday, extending weakness in global equity markets at the end of last week as soft Chinese economic data and falling oil prices rekindled anxiety about the outlook for world growth.

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.17 percent in early trade. Australian shares were down 0.08 percent, while Japan’s Nikkei stock index eased 0.12 percent.

SGX Nifty

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 31 points or 0.29 percent. Nifty futures were trading around 10,591-level on the Singaporean Exchange.

China open for trade talks with US

Asserting that US-China bilateral trade is "critical to the world economy", a top Chinese diplomat said Beijing has kept its door open for trade talks with the Trump administration, as the two top global economies are locked in a trade war.

Addressing a joint press conference on November 9, Chinese State Councilor Yang Jiechi said, "According to the US-China Business Council, trade and economic relations with China help every American family save $850 annually and creates as many as six million jobs in this country."

Secretary of State Mike Pompeo, US Defence Secretary James Mattis and Chinese Minister of National Defence Wei Fenghe were also present at the press conference.

Forex kitty jumps by over $1 bn to $393.13 bn

After multiple weeks of decline, the country's foreign exchange reserves swelled by $1.054 billion to $393.132 billion in the week to November 2, driven by a jump in foreign currency assets and gold holdings, RBI data showed on November 9. Total reserves had dropped by $1.444 billion to $392.078 billion for the previous reporting week.

For the reporting week, foreign currency assets rose $487.7 million to $368.138 billion. The country's reserve position with the International Monetary Fund rose $192.2 million to $2.639 billion, the apex bank said. However, the special drawing rights with the Fund slipped $200,000 to $1.465 billion.

Oil prices rise by 1% after Saudi announces Dec supply cut

Oil prices rose by about one percent on Monday after top exporter Saudi Arabia announced a cut in supply for December, seen as a measure to halt a market slump that had seen crude decline by 20 percent since early October.

International benchmark Brent crude oil futures were at $71.11 per barrel at 0051 GMT, up 93 cents, or 1.3 percent from their last close. US West Texas Intermediate (WTI) crude oil futures were at $60.73 per barrel, up 54 cents, or 0.9 percent from their last settlement.

Decline in oil price to continue; risk to inflation moderate: Report

The decline in global crude oil prices is expected to continue, which will have a moderating impact on inflation, a report said. Brent crude prices have now declined to less than $70 per barrel (bbl), SBI Ecoflash said. Crude prices, which rose from $63/bbl in February 2018 to $86/bbl in October 2018, has started to decline recently, the report added.

In the past one month, crude prices declined by around $16/bbl as some nations got waivers to import oil from Iran, amid signs that other OPEC members will pump more to offset any supply gap.

"We believe that the decline in oil price might continue. Even our analysis of global growth vis-a-vis oil prices suggest that since 2012, oil prices in the first half are always greater than or equal to the second half of a year," it said.

Rupee jumps 50 paise to 72.50 against US Dollar

The rupee rose by 50 paise to end at 72.50 per US dollar on November 9 due to increased selling of the greenback by exporters amid softening crude oil prices, which slipped below the $70 per barrel mark.

At the Interbank Foreign Exchange (forex) market, the rupee opened on a firm note at 72.68 from November 6 closing of 73. It climbed to a high of 72.45, driven by dollar selling by exporters, but ceded some ground to finally end at 72.50, up 50 paise over its last close.

Major oil producers to consider production cuts after price slide

Major oil producers meet in Abu Dhabi on Sunday to consider reverting to output cuts after a sharp slide in crude prices revived fears of a 2014-style crash. Oil prices shed a fifth of their value in just one month after surging to a four-year high in early October, driven by a combination of factors centred on higher supply and fears of sluggish demand.

Brent crude dropped below $70 a barrel on November 9 for the first time since April while the New York's West Texas Intermediate (WTI) sank below $60 a barrel, a nine-month low.

Energy ministers of top producers Russia and Saudi Arabia will join other OPEC and non-OPEC officials for the meeting of the Joint Ministerial Monitoring Committee, which oversees production levels.

FPIs infuse Rs 4,800 cr in just 5 trading sessions on cooling crude prices

Foreign investors have pumped in nearly Rs 4,800 crore into the Indian capital markets in the last five trading sessions, after pulling out hefty funds in October, amid cooling global crude oil prices and rising rupee.

The recent infusion comes following a net outflow of more than Rs 38,900 crore in October, which was the steepest withdrawal in nearly two years. According to depositories data, foreign portfolio investors (FPIs) infused Rs 215 crore in the equity markets during November 1-9, and Rs 4,557 crore in the debt market, taking the total to Rs 4,772 crore.

371 companies to report Sept quarter numbers today

As many as 371 companies will report their results for the quarter ended September later today which include names like Bank of India, Eicher Motors, Jain Irrigations, NMDC, Oil India, UCO Bank, Union Bank of India, and Usha Martin among others.

With inputs from Reuters & other agencies