A list of important headlines from across news agencies that could help in your trade today.
The Sensex on February 13 gave up early gains to end 119 points lower as investors booked profits in banking, auto, metal and pharma stocks in the last hour of trade while the Nifty ended tad below 10,800 levels.
The broader markets also closed the session lower with Nifty Midcap index falling 0.33 percent and Smallcap index losing 0.85 percent.
Among sectors, Nifty Auto and Metal indices slipped a percent each followed by Bank, FMCG and Pharma whereas IT outperformed to close 0.65 percent higher.
According to Pivot charts, the key support level is placed at 10,746.62, followed by 10,699.58. If the index starts moving upward, key resistance levels to watch out are 10,866.17 and then 10,938.68.
The Nifty Bank index closed at 26,885.40, down 125.35 points on February 13. The important Pivot level, which will act as crucial support for the index, is placed at 26,780.30, followed by 26,675.20. On the upside, key resistance levels are placed at 27,049.25, followed by 27,213.10.
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 advances on trade hopes, tame inflation data
Wall Street closed higher on Wednesday as investor optimism was stoked over hopes the United States and China could iron out a trade deal, and benign inflation data suggested the Federal Reserve would hold interest rates steady in the near term.
The Dow Jones Industrial Average rose 117.51 points, or 0.46 percent, to 25,543.27, the S&P 500 gained 8.3 points, or 0.30 percent, to 2,753.03 and the Nasdaq Composite added 5.76 points, or 0.08 percent, to 7,420.38.
Asia stocks wait on Sino-US talks, China trade data
Asian stock markets started in a cautious mood on Thursday as investors hoped for progress in the latest Sino-US tariff talks while bracing for China trade data that are expected to show further falls in both exports and imports.
MSCI’s broadest index of Asia-Pacific shares outside Japan was all but flat, having just touched peaks last seen in early October. Japan’s Nikkei edged up 0.3 percent to its highest for the year so far as a weakening yen boosted export stocks. E-Mini futures for the S&P 500 added 0.1 percent.
Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a fall of 16 points or 0.15 percent. Nifty futures were trading around 10,787-level on the Singaporean Exchange.
Oil prices edge up on hopes for US-China trade breakthrough
Oil prices inched up on Thursday, buoyed by hopes that potential progress in the latest Sino-US tariff talks would improve the global economic outlook. US West Texas Intermediate (WTI) crude futures were at $53.76 per barrel at 2338 GMT, up 10 cents, or 0.2 percent, from their last settlement. They closed up 1.5 percent on Wednesday, having touched their highest since Feb. 5 at $54.60 a barrel.
Rupee settles 10 paise down at 70.80 vs USD
Snapping its six-day winning run, the rupee Wednesday settled 10 paise lower at 70.80 against the US dollar amid rising crude prices and heavy foreign fund outflows. Forex traders said dollar buying by oil importers and strengthening of the greenback against major currencies overseas weighed on the domestic unit.
At the Interbank Foreign Exchange (forex) market, the rupee opened on a strong footing at 70.48 and rose further to touch the day's high of 70.40. However, it pared the initial gains and finally closed at 70.80 per dollar, down by 10 paise against its previous close.
China trade talks going 'very well' before high-level parley: Trump
US President Donald Trump said on Wednesday trade talks with China were “going along very well” as the world’s two largest economies try to resolve their seven-month tariff war ahead of a March 1 deadline for a deal.
US tariffs on $200 billion worth of imports from China are scheduled to rise to 25 percent from 10 percent if the two sides don’t reach a deal by then, increasing pain and costs in sectors from consumer electronics to agriculture.
Trump told reporters at the White House his administration has a “big team of people, very talented people, over in China right now, negotiating on the China deal.”
Bank credit grows 14.5%, deposits up 9.63%
Both bank credit as well as deposits growth marginally declined on a fortnightly basis, clipping at 14.5 percent at Rs 94.29 lakh crore deposits grew at a tepid 9.63 percent to Rs 121.22 lakh crore for the fortnight ending February 1, according to the latest RBI data.
In the previous fortnight ended January 18, deposits had increased by 9.69 percent to Rs 119.86 lakh crore and credit grew by 14.61 percent to Rs 93.32 lakh crore. The decline was mainly driven by the poor show by agriculture and allied activities and the personal loans during the week.
Cabinet hikes MSP for raw Jute to Rs 3,950/qtl for 20190-20
The government on Wednesday hiked the minimum support price for raw jute to Rs 3,950 per quintal for 2019-20 season from Rs 3,700 per quintal in the previous season. The decision was taken at a meeting of the Cabinet Committee of Economic Affairs here, Union Minister Piyush Goyal said.
"The MSP would yield returns of 55.81 per cent over the All-india weighted average cost of production. The MSP of raw jute is expected to ensure appropriate minimum prices to the farmers and step up investment in jute cultivation and thereby production and productivity in the country," an official statement said.
RBI fines SBI, BoB, Corporation Bank and Union Bank for violation of norms
The Reserve Bank Of India (RBI) has imposed a monetary penalty on Bank of Baroda (BoB), Corporation Bank, State Bank of India (SBI) and Union Bank Of India for non-compliance of various directions issued by the central bank.
In an order dated January 31, RBI said it has imposed monetary penalty on Bank of Baroda, Corporation Bank, SBI, Union Bank of India for non-compliance with directions issued by RBI on monitoring of end use of funds, exchange of information with other banks, classification and reporting of frauds, etc. According to the press release, Corporation Bank has been fined Rs 2 crore, while BoB, SBI and Union Bank Of India were fined Rs 1 crore each.
1000 companies to report Q3 numbers today
Nearly 1000 companies will declare their results for the quarter ended December which include names like Voltas, Vadilal Dairy, Unitech, Surya Roshni, Steel Strips, Page Industries, Nestle India, MMTC, La Opala, Kaveri Seeds, Kitex Garments, JMT auto, Infibeam Avenues, Cox & Kings and Ashok Leyland 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 14, Adani Enterprises, Jet Airways, Reliance Capital, Reliance Power, Jain Irrigation Systems and IDBI Bank stocks are present in this list.With inputs from Reuters & other agencies