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

Bulls failed to maintain their hold on markets on November 14 and ended the day flat. The index formed a bearish candle resembling a ‘Hanging Man’ on the daily charts.

The index reversed gains after hitting levels between 10,600-10,650 for the fifth consecutive day in a row and now a close above 10,650-10,700 is required for bulls to regain control over D-Street. On the other hand, a close below 10,550-10,532 could take the index lower towards 10,440 levels suggest experts.

Even though the market might be giving mixed signals, experts suggest investors stay long on the index with a stop below 10,440 levels. The index formed a Piercing patter in Tuesday's session which suggested bulls might regain control of D-Street, but the formation of a bearish candle might have now negated the positive pattern.

India VIX move up by 0.67 percent at 18.82 levels. VIX has to cool down below 16 zones to get the next leg of smooth upside rally in the market.

According to Pivot charts, the key support level is placed at 10,522.13, followed by 10,467.97. If the index starts moving upwards, key resistance levels to watch out are 10,641.03 and then 10,705.77.

The Nifty Bank index closed at 25,930.2 on Wednesday. The important Pivot level, which will act as crucial support for the index, is placed at 25,809.57, followed by 25,688.93. On the upside, key resistance levels are placed at 26,047.97, followed by 26,165.73.

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.

Wall Street stocks fell on Wednesday, with the S&P 500 notching a fifth straight day of losses as financial stocks were hit by fears that regulations on the banking industry would tighten once the Democratic Party takes control of the US House of Representatives. The financial sector dropped 1.4 percent and was the biggest percentage decliner on the S&P 500. The S&P 500 Banks index fell 1.7 percent.

The Dow Jones Industrial Average fell 205.99 points, or 0.81 percent, to 25,080.5, the S&P 500 lost 20.6 points, or 0.76 percent, to 2,701.58 and the Nasdaq Composite dropped 64.48 points, or 0.9 percent, to 7,136.39.

Asian stocks edged up on Thursday as a steep slide in crude oil prices which had chilled investor sentiment slowed, while the pound and euro were supported after British Prime Minister Theresa May gained cabinet support for a Brexit deal.

MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.15 percent. Australian stocks rose 0.15 percent while Japan’s Nikkei shed 0.5 percent.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 17 points or 0.16 percent. Nifty futures were trading around 10,618-level on the Singaporean Exchange.

The government and the RBI will work towards ways to provide relief on liquidity-related issues for NBFCs and devise simpler lending norms for MSMEs at the latter's board meeting that is scheduled to be held on November 19, a top government official said.

"Some resolution on liquidity and credit related issues is expected in the meeting," the official quoted above said. Discussions on 'economic capital framework', through which the government wants RBI to transfer to a substantial chunk of the central bank's reserves, is a work in progress. "It will take some time for these issues to get resolved. It may take two-three meetings," the official added.

Apart from this, there could be discussions pertaining to the Prompt Corrective Action (PCA) framework prescribed by the RBI as the government has been pushing for relaxing capital adequacy norms for domestic banks.

The rupee gained 36 paise to end at 72.31 against the US dollar on November 14 as global crude oil prices hovered near one-year lows, easing concerns over expanding current account deficit and inflation.

The recovery was also supported by dollar-selling by exporters and banks, foreign fund inflows and the greenback's weakness against some currencies overseas, traders said.

At the interbank forex market, the rupee commenced with strength at 72.18 and appreciated further to 71.99 against the US dollar. However, it lost some momentum and finally finished at 72.31, showing a gain of 36 paise.

Oil rose about 1 percent on Wednesday, recouping some of the previous session’s heavy sell-off, on growing prospects that the Organization of the Petroleum Exporting Countries and allied producers would cut output at a meeting next month to prop up prices.

Brent crude settled up 65 cents, or 1 percent, at $66.12 a barrel, after hitting a session high of $67.63. US crude futures rose 56 cents, or 1.01 percent, to settle at $56.25 a barrel, after sliding for 12 straight sessions to the lowest since November 2017.

Systematic investment plans, popularly known as SIPs, remained the most preferred investment option among retail investors looking to enter mutual fund schemes last month. According to data provided by Association of Mutual Funds in India (AMFI), the industry garnered Rs 7,985 crore through SIPs in October, slightly higher than Rs 7,727 crore collected in September.

Mutual funds attributed the increased interest in SIPs to investor education and matured investor behaviour. They said investors have continued to keep faith in SIPs during volatile markets.

Information technology (IT) spending in India will grow at 6.7 percent in 2019 to $89.2 billion, driven by digital transformation investments by both public and private entities, a report said. Research firm Gartner, which came up with the estimate, has pegged the 2018 IT spends growth to come at 4.5 percent, which is up from the year-ago's 15.8 percent.

The spends on IT will continue to be driven by digital transformation by both the private and public sector which have become adaptive to business model change and bring new practices, develop new capabilities and create new ways to succeed in the digital world, it said.

Direct tax collection has already crossed Rs 5 lakh crore and will exceed the budgeted target of Rs 11.5 crore set for the current fiscal, CBDT Chairman Sushil Chandra said. He further said that so far the I-T department has issued refunds to 2.15 crore assessees amounting to Rs 1.15 lakh crore and from now onwards the net collections will increase.

"We have already crossed the Rs 5 lakh crore figure that is 44 percent of the net direct tax collection target. This is despite the fact there is a surge in refund," Chandra said.

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 November 15, 2018 Adani Power and Jet Airways are present in this list.