A list of important headlines from across news agencies that could help in your trade today.
The BSE Sensex fell 80.30 points to 38,564.88 while the Nifty 50 closed down 18.50 points at 11,576 forming a bearish candle on daily charts.
Nifty is currently placed near the crucial support of 11,550 and expected to slip below this support in the next 1-2 sessions, experts said, adding the formation of a bearish candle following a Bearish Belt Hold on the daily scale indicates that bears are now forcing the market to restrict its momentum.
According to the Pivot charts, the key support level is placed at 11,545.2, followed by 11,514.4. If the index starts moving upward, key resistance levels to watch out are 11,626.4 and 11,676.8.
The Nifty Bank index closed at 29,479.70, down 208.25 points on April 23. The important Pivot level, which will act as crucial support for the index, is placed at 29,321.23, followed by 29,162.77. On the upside, key resistance levels are placed at 29,772.33, followed by 30,064.96.
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.
S&P 500, Nasdaq hit record closing highs on upbeat earnings
The S&P 500 index and the Nasdaq registered record closing highs after a broadbased rally on Tuesday, as a clutch of better-than-expected earnings reports eased concerns about a slowdown.
The Dow Jones Industrial Average rose 145.34 points, or 0.55%, to 26,656.39, the S&P 500 gained 25.71 points, or 0.88%, to 2,933.68 and the Nasdaq Composite added 105.56 points, or 1.32%, to 8,120.82.
Asian shares up after Nasdaq, S&P 500 hit record highs
Equity markets in Asia rose on Wednesday morning after upbeat earnings helped the Nasdaq and S&P 500 indexes reach record closing highs on Wall Street overnight, while oil retreated from its near six-month highs.
MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.1 percent in early trade in Asia. The gains followed a strong performance on Wall Street, driven by robust results from Coca-Cola, Twitter, United Technologies and Lockheed Martin. Australian shares gained 0.6 percent, while Japan’s Nikkei stock index was 0.3 percent higher. Seoul’s Kospi was up 0.1 percent.
Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 13 points or 0.12 percent. Nifty futures were trading around 11,606 -level on the Singaporean Exchange.
Rupee rises 5 paise against US dollar despite crude oil concerns
The rupee on April 23 recovered from the day's lows to close higher by 5 paise at 69.62 against the US dollar on some dollar selling by banks and exporters. However, subdued equity market sentiment and a stronger dollar against its key rival currencies limited the rupee's gain, forex dealers said.
At Interbank Foreign Exchange, the rupee opened strong at 69.63 a dollar and touched a high of 69.53 in early trade. The local currency erased its gains and dropped to a low of 69.83 as crude oil prices extended their Monday's rally, triggering inflationary and fiscal slippage concerns.
Oil dips on well supplied markets despite tighter Iran sanctions
Oil prices inched lower on Wednesday on signs that global markets remain adequately supplied despite a jump to 2019 highs this week on Washington’s push for tighter sanctions against Iran.
Brent crude futures were at $74.24 per barrel at 0058 GMT, down 27 cents, or 0.4 percent, from their last close. US West Texas Intermediate (WTI) crude futures were at $66.02 per barrel, down 28 cents, or 0.4 percent, from their previous settlement.
RBI sets high cut-off at forex swap auction, forward rates jump
Reserve Bank of India on April 23 set a cut-off at its second dollar/rupee swap auction at a much higher than expected premium, in a sign that the system is flush with dollar liquidity that banks are struggling to find buyers for.
The Central Bank set a premium of 8.38 rupees at the three-year buy-sell swap auction and accepted the entire planned $5 billion up on offer. The RBI has been conducting the auctions in a bid to absorb the dollars in the system and prevent a sharp rise in the currency while also providing rupee liquidity to the banks.
Gold falls to four-month low on firm dollar, risk sentimentGold prices fell on April 23 to a near four-month low as a firmer dollar and investors' ongoing preference for riskier assets took the sheen off the metal
traditionally seen as a safe haven.
Spot gold was down 0.5 percent to $1,267.80 per ounce at 1300 GMT, after falling to its lowest since Dec. 27 at $1,266.50. US gold futures fell 0.6 percent to $1,270 an ounce.
Sebi reduces minimum subscription requirement for REITs, InvITsMarkets regulator Sebi has reduced the minimum subscription requirement as well as defined trading lots for Real Estate Investment Trusts (REITs) and
Infrastructure Investment Trusts (InvITs). REITs have to offer their units in lots worth at least Rs 50,000 in initial and follow on public offers.
The minimum value of a single lot should be Rs 1 lakh in the case of InvITs. Markets regulator Sebi on April 23 came out with guidelines for determination of allotment and trading lot size for REITs and InvITs. Sebi norms pertaining to REITs and InvITs were amended on April 22.
"The said amendments have, inter-alia, for publicly offered InvITs and REITs, reduced the minimum subscription requirement and has defined the trading lot in terms of number of units.
15 companies to report Q4 numbers today
As many as 15 companies will declare their results for March quarter which include names like Hexaware Technologies, Bharti Infratel, M&M Financial Services, Shriram City Union, Syngene International, Tata Elxi and UltraTech Cement among others.
Seven 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 April 24, Adani Power, DLF, IDBI Bank, Idea Cellular, Jet Airways, PC Jeweller and Reliance Power are present in this list.With inputs from Reuters & other agencies
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