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Last Updated : Feb 12, 2019 07:38 AM IST | Source:

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

A list of important headlines from across news agencies that could help in your trade today.

Sandip Das @Im_Sandip1

The market continued to reel under selling pressure after major events like the 2019 Interim Budget and the RBI monetary policy, and closed lower for the third straight session on February 11.

Traders remain cautious ahead of important macro data like CPI inflation for January 2019 and factory data for December 2018, which is scheduled to be announced on February 12. Mixed global cues and no surprise in the December quarter earnings with scope of further downgrade dampened market sentiments.

The 30-share BSE Sensex declined 151.45 points to 36,395.03, while the Nifty 50 fell 54.80 points to 10,888.80 and formed the bearish candle which

resembled a 'Bearish Belt Hold' kind of formation on the daily scale.

According to Pivot charts, the key support level is placed at 10,853.63, followed by 10,818.47. If the index starts moving upward, key resistance levels to watch out are 10,927.43 and then 10,966.07.

The Nifty Bank index closed at 27,227.80, down 66.60 points on February 11. The important Pivot level, which will act as crucial support for the index, is placed at 27,150.96, followed by 27,074.13. On the upside, key resistance levels are placed at 27,305.26, followed by 27,382.73.

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 wavers as investors eye trade talks, growth fears

Wall Street see-sawed on Monday, rarely straying far from opening levels as investors eyed ongoing US-China trade talks, potential congressional gridlock and a diminished 2019 earnings outlook. The S&P 500 and the Nasdaq eked out nominal gains while the blue chip Dow edged lower.

The Dow Jones Industrial Average fell 53.22 points, or 0.21 percent, to 25,053.11, the S&P 500 gained 1.92 points, or 0.07 percent, to 2,709.8 and the Nasdaq Composite added 9.71 points, or 0.13 percent, to 7,307.91.

Asian stocks subdued, focus on new round of Sino-US talks

Asian shares barely budged on Tuesday with investors looking to a new round of Sino-US trade talks as the world’s two largest economies try to resolve a tariff dispute that has put a dent on global growth and corporate earnings.

MSCI’s broadest index of Asia-Pacific shares outside Japan was unchanged in early trade. Japan’s Nikkei was up 1.1 percent after a market holiday on Monday.

SGX Nifty

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 23.5 points or 0.21 percent. Nifty futures were trading around 10,907-level on the Singaporean Exchange.

Oil rises on OPEC cuts, US sanctions on Iran and Venezuela

Oil prices rose on Tuesday amid OPEC-led supply cuts and US sanctions against Iran and Venezuela, although surging US production and concerns over economic growth kept markets in check.

US West Texas Intermediate (WTI) crude oil futures were at $52.50 per barrel at 0102 GMT, up 9 cents, or 0.2 percent, from their last close. International Brent crude futures were up 18 cents, or 0.3 percent, at $61.69 per barrel.

Rupee gains 13 paise vs USD on easing crude price

The rupee strengthened by 13 paise to close at 71.18 against the US dollar Monday on easing crude oil prices, even as the greenback strengthened vis-a-vis other major currencies. This is the fifth successive session of gain for the domestic currency, during which it has climbed 62 paise.

At the Interbank Foreign Exchange (forex) Monday, the rupee opened on a firm note at 71.24. It gained further to hit a high of 71.09 and finally settled for the day at 71.18, up 13 paise over its last close.

Sebi proposes circuit filters for F&O segment to curb price volatility

To check excessive price movements, capital markets regulator Sebi Monday proposed a slew of measures including capping the maximum daily movement of up to 20 per cent for all stocks including that are part of the future and options (F&O) segment. There have been concerns that investors' wealth is getting wiped out in a single day by recent falls in stocks on which derivative products are available, as no price band are applicable on them.

Besides, sharp plunge in the shares of several companies including Dewan Housing Finance and e-commerce player Infibeam have been noticed in recent times.

According to Sebi, the examination of price movement of scrips, on which derivatives are available, during the last six months, revealed 40 scrips witnessed intra-day movement of over 20 percent. Out of this, 29 stocks have seen intra-day movement between 20 percent and 30 percent.

NSE launches trading in weekly options on Nifty 50 Index

Leading stock exchange NSE Monday launched weekly options on the Nifty 50 Index, which will provide market participants an additional hedging tool to manage portfolio risk more effectively. The Nifty 50 Index options are already available for three monthly option contracts, three quarterly and eight semi-annual option contracts, National Stock Exchange (NSE) said in a release.

"Nifty 50 Index options are based on our flagship index the Nifty 50 and is one of our key products. The Nifty 50 Index derivatives are traded by domestic as well as international participants," NSE MD and CEO Vikram Limaye said.

Sebi comes out with framework for utilisation of security deposits with clearing corp

Capital markets watchdog Sebi on Monday came out with a new framework for utilisation of financial security deposits available with clearing corporations, warehouse development and regulatory authority in order to rationalise such deposits.

At present, on the same goods, security deposits are required to be maintained with both WDRA (warehouse development and regulatory authority) and clearing corporations, putting additional financial burden on warehouse operators.

In order to rationalise financial security deposit (FSD) and, after consultation with WDRA and clearing corporations, Sebi in a circular said clearing corporations having commodity derivatives segment would need to adhere to the new norms laid by the regulator for utilisation of such deposits.

EPFO likely to retain interest rate at 8.55% for FY19

Retirement fund body EPFO is likely to retain the interest rate on employees' provident fund at 8.55 percent rate for the 2018-19 fiscal for its more than six crore subscribers, a highly-placed source said. "The proposal for providing interest rate for the current fiscal would come up in the meeting of the trustees of Employees' Provident Fund Organisation on February 21," the source said.

"The interest rate would be retained at 8.55 percent for the current fiscal as provided in 2017-18 in view of forthcoming Lok Sabha elections. The EPFO's

income projections for the current fiscal would be tabled in the meeting."

464 companies to report Q3 numbers today

As many as 464 companies will declare their results for the quarter ended December which include names like Balaji Telefilms, Bata India, Coal India, Crisil, DB Realty, HEG, Ipca Laboratories, Jain Irrigations, Lux Industries, Natco Pharma, Oil India, Religare Enterprises, Sun Pharma and Vadilal Industries among others.

Six stocks under ban period on NSE

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 February 12, Adani Enterprises, Jet Airways, Reliance Capital, Reliance Power, DHFL and IDBI Bank stocks are present in this list.

With inputs from Reuters & other agencies
First Published on Feb 12, 2019 07:38 am
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