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Last Updated : May 16, 2019 07:38 AM IST | Source: Moneycontrol.com

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

Benchmark indices ended lower on May 15 in volatile trade. Nifty wiped out all gains made on Tuesday finishing just above 11,150 levels led by a fall in metal stocks.

At close, the Sensex was down 203.65 points at 37,114.88, while Nifty was down 65 points at 11,157. About 982 shares advanced, 1,544 shares declined, and 176 shares were unchanged.

Yes Bank, Tata Motors, Zee Entertainment, JSW Steel and Gail were the top losers on the Nifty, while gainers were Bajaj Finance, Eicher Motors, UPL, IOC and Indiabulls Housing.

Among the sectors, the metal index slipped 2 percent followed by auto, infra, pharma, FMCG and bank.

According to the Pivot charts, the key support level is placed at 11,100.4, followed by 11,043.8. If the index starts moving upward, key resistance levels to watch out are 11,250.2 and 11,343.4.

The Nifty Bank index closed at 28,616.45, down 212.75 points on May 15. The important Pivot level, which will act as crucial support for the index, is placed at 28,453.33, followed by 28,290.27. On the upside, key resistance levels are placed at 28,881.33, followed by 29,146.27.

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 ends higher as trade worries ease

US stocks ended higher on Wednesday as reports that US President Donald Trump would hold off on imposing tariffs on imported cars and parts eased growth concerns, even as economic data disappointed investors.

The Dow Jones Industrial Average rose 119.81 points, or 0.47 percent, to 25,651.86, the S&P 500 gained 16.73 points, or 0.59 percent, to 2,851.14 and the Nasdaq Composite added 87.65 points, or 1.13 percent, to 7,822.15.

Asian shares win reprieve as Trump seen delaying auto tariffs

Asian shares steadied on Thursday on news that US President Donald Trump is planning to delay tariffs on auto imports, providing much needed relief to markets hit by a flare-up in trade tensions and on weak US and and Chinese economic data.

MSCI’s broadest index of Asia-Pacific shares outside Japan was flat, with both Australia and South Korea little changed. Japan’s Nikkei fell 0.6 percent, with banks hurt by weak earnings.

SGX Nifty

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 15.5 points or 0.14 percent. Nifty futures were trading around 11,177-level on the Singaporean Exchange.

Oil firms on Middle East uncertainty

Oil futures inched up on Wednesday as the prospect of mounting tensions in the Middle East hitting global supplies overshadowed an unexpected build in US crude inventories.

Brent crude settled at USD 71.77 a barrel, gaining 53 cents or 0.7 percent. West Texas Intermediate (WTI) crude futures settled at USD 62.02 a barrel,
climbing 24 cents or 0.4 percent. US crude inventories rose unexpectedly last week to their highest since September 2017, while gasoline stockpiles

decreased more than forecast, the Energy Information Administration said.

Rupee closes marginally higher at 70.34 against US dollar

The rupee appreciated by 23 paise to 70.21 against the US dollar in opening trade Wednesday, driven by easing crude prices, a higher opening in domestic equities and hopes about easing US-China trade tensions. Forex dealers said that investor sentiment was buoyed after US President Donald Trump on Tuesday hoped that the world's top two economies would be able reach an agreement.

The rupee opened strong at 70.32 at the interbank forex market then gained further ground and touched 70.21 amid a positive opening in domestic equities, displaying gains of 23 paise over its last close.

Exports grow marginally, imports up 4.5% in April

India's exports rose marginally by 0.64 percent in April to $26 billion while imports increased by 4.5 percent to $41.4 billion compared to the year-ago month, according to official data released May 15.

Trade deficit, the difference between exports and imports, widened to USD 15.33 billion in April 2019 from USD 13.72 billion in April 2018. Oil imports grew by 9.26 percent to USD 11.38 billion and non-oil imports expanded by 2.78 percent. Gold imports rose by 54 percent to USD 3.97 billion in April.

MFs add 2.8 lakh investor accounts in April

The mutual fund industry has started FY20 on a positive note adding 2.80 lakh folios in April, taking the cumulative total to 8.27 crore, according to data from the Securities and Exchange Board of India (SEBI). Folios are numbers designated to individual investor accounts, though one investor can have multiple accounts.

In comparison, the total in the month of March stood at 8.25 crore. Since April this year, SEBI started disclosing folios of individual debt and equity categories such as overnight funds, long duration funds, low duration funds, corporate bond funds, multi-cap funds, small-cap, and large-cap schemes among others.

Chinese investment in India may be imminent: Anand Mahindra

Mahindra Group Chairman Anand Mahindra May 15 said a wave of Chinese investment in India may be imminent in the wake of intensifying trade war between the US and China.

Commenting on reports that US President Donald Trump will meet his Chinese counterpart Xi Jinping next month, in a tweet Mahindra said, "Even if they settle, a Chinese firm with large exports to the US would be wise to hedge & invest in a subsidiary in India & transfer its scale-manufacturing skills."

He further said, "Direct exports would simply become indirect. A wave of Chinese investment in India may be imminent." His comments come at a time when the US-China trade dispute escalated on May 13 when Beijing announced levies duty on US products of $60 billion.

BSE launches BSE StAR MF app

After launching BSE StAR Mutual Fund distribution platform, the exchange on May 15 launched its mobile app BSE StAR MF. The app will help distributors execute transactions, create mandate for SIPs, and track and analyse business on the go. BSE StAR MF Mobile app will also help the distributor and the IFA (Independent Financial Advisors) to register clients on real-time basis and execute paperless transactions.

74 companies to report March quarter numbers today

As many as 74 companies will declare their results for the quarter ended March which include names like Bajaj Finserv, Bajaj Finance, Bank of India, D B Corp, Hindalco Industries, JK Tyres, Praj Industries and Visa Steel among others.

With inputs from Reuters & other agencies
First Published on May 16, 2019 07:38 am
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