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

The market ended the first session of the week on a strong note with benchmark indices closing at the highest level in one month, driven by the rally in Asian peers and Reliance Industries.

The 30-share BSE Sensex climbed 192.35 points to 36,578.96 while the Nifty 50 rallied 54.90 points to 10,961.90, forming bullish candle on the daily scale on Monday.

The broader markets underperformed frontliners with the Nifty Midcap index falling 0.8 percent and Smallcap index 0.9 percent as advance: decline ratio was in favour of bears.

The sectoral trend was mixed as Bank, IT and Pharma indices closed in the green while Auto and Realty lost over a percent each. FMCG and Metal also lost ground.

According to Pivot charts, the key support level is placed at 10,902.57, followed by 10,843.33. If the index starts moving upward, key resistance levels to watch out are 11,004.27 and then 11,046.73.

The Nifty Bank index closed at 27,533.60, up 76.90 points on January 21. The important Pivot level, which will act as crucial support for the index, is placed at 27,407.33, followed by 27,281.07. On the upside, key resistance levels are placed at 27,641.03, followed by 27,748.46.

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.

Asian shares and US stock futures slipped on Tuesday amid signs of pessimism about world growth, while sterling dithered as the latest plan for Brexit appeared to come and go with no progress.

MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.1 percent but was still within striking distance of a seven-week top touched the previous day. Japan's Nikkei gained 0.2 percent, helped by a recent pullback in the yen.

US stock futures, which offer an indication of how Wall Street will open, were down about 0.2 percent.

Trends on SGX Nifty indicate a flat opening for the broader index in India, a fall of 3 points or 0.03 percent. Nifty futures were trading around 10,959-level on the Singaporean Exchange.

The International Monetary Fund (IMF) on January 21 lowered its global growth projections for 2019 and 2020 to 3.5 percent and 3.6 percent respectively, citing a slowdown in several advanced economies around the world more rapidly than previously anticipated.

The revised global growth rates are 0.2 and 0.1 percentage point below the IMF's previous projections made three months ago.

"Global growth in 2018 is estimated to be 3.7 percent, as it was last fall, but signs of a slowdown in the second half of 2018 have led to downward revisions for several economies. Weakness in the second half of 2018 will carry over to coming quarters, with global growth projected to decline to 3.5 percent in 2019 before picking up slightly to 3.6 percent in 2020,” the IMF said in its World Economic Outlook (WEO) update.

The International Monetary Fund (IMF) on January 21 cut its world economic growth forecasts for 2019 and 2020, due to weakness in Europe and some emerging markets. India's growth projection for 2019 was, however, raised by 10 basis points to 7.5 percent.

"India’s economy is poised to pick up in 2019, benefiting from lower oil prices and a slower pace of monetary tightening than previously expected, as inflation pressures ease," IMF said in its latest World Economic Outlook update. India's growth estimate for 2018 has been retained at 7.3 percent while for 2020 it has been retained at 7.7 percent.

The rupee on Monday weakened by 9 paise to close at 71.28 against the US dollar amid rise in demand for the greenback from exporters and unabated foreign fund outflows. This is the second successive session of fall for the Indian currency, during which it has lost 25 paise.

Forex traders said foreign fund outflows and a stronger dollar impacted the trading pattern for the local unit. At the Interbank Foreign Exchange (forex) market, the rupee opened lower at 71.38 and fell further to touch the day's low of 71.53.

Oil prices edged lower on Tuesday as concerns over global economic growth stoked fears over future demand. International Brent crude oil futures were down 10 cents, or 0.2 percent, at $62.64 by 0106 GMT. They closed down 0.1 percent on Monday. US West Texas Intermediate (WTI) crude futures were at $53.70 per barrel, down 0.1 percent, or 4 cents.

With populist decisions like farm loan waivers and other financial support schemes likely to gain significance in the run-up to the forthcoming next general elections, aggregate fiscal deficit of the states is expected to reach 3.2 percent in FY20, warns a report. India Ratings expects the states' revenue account on aggregate to clock a deficit of 0.5 percent of GDP in FY20 due to a higher growth in revenue spends than revenue receipt.

"The competitive populism, in the nature of farm loan waivers and other financial support schemes, would take the centre stage in the run-up to next general elections in April-May. A larger impact is expected on fiscal and revenue deficit to gross state domestic product ratios for MP, Kerala and Rajasthan, among non-special category states, in FY20," the agency said in a report Monday.

Global foreign direct investment (FDI) fell 19% last year to an estimated $1.2 trillion, largely caused by US President Donald Trump's tax reforms, the United Nations trade and developme

FDI, comprising cross-border mergers and acquisitions (M&A), intra-company loans and investment in start-up projects abroad, is a bellwether of globalisation and a potential sign of growth of corporate supply chains and future trade ties.

But it can also go into reverse as companies pull investments out of foreign projects or repatriate earnings.

India may soon start exporting tobacco to China as both the countries have signed a protocol for the same, the department of commerce said on January 21.

"India and China signed the Protocol of phytosanitary requirements for the export of tobacco leaves from India to China. This has paved the way for the export of Indian tobacco to China, strengthening India-China trade relations," the department said in a tweet.

Commerce Secretary Anup Wadhawan met Zhang Jiwan, Vice Minister of General Administration of Customs of China, Monday and discussed various issues related to market access for Indian agri-commodities and the ways to resolve them.

As many as 27 companies on the BSE will declare their results for quather ended December which include names like Asian Paints, Havells India, ICICI

Pudential Life, Oberoi Realty, TVS Motor Company, Visa Steel etc. among others.

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 January 22, Adani Power and Jet Airways is present in this list.