What changed for the market while you were sleeping? Top 12 things to know

The Nifty after sharp gap down opening continued to trade lower throughout the session on Thursday, the last day of October series. Global cues and correction in index heavyweights Reliance Industries and HDFC twins weighed down the market.

The index hit fresh seven-month low during the day but managed to show some recovery in later part of the session to close above 10,100 levels. It made small bodied bearish candle on the daily charts, which resembles a ‘Doji’ kind of pattern.

Experts feel the market behaviour indicated that it may be bottoming out for the time being. Hence, the pull back rally could be possible in coming sessions, which could be short lived, they said.

According to Pivot charts, the key support level is placed at 10,080.6, followed by 10,036.3. If the index starts moving upwards, key resistance levels to watch out are 10,167.9 and then 10,210.9.

The Nifty Bank index closed at 24,817.4. The important Pivot level, which will act as crucial support for the index, is placed at 24,683.7, followed by 24,550.0.

On the upside, key resistance levels are placed at 24,964.2, followed by 25,111.0.

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.

US stocks jumped on Thursday, giving the Nasdaq its biggest daily gain since March, as Microsoft’s upbeat earnings spurred a rebound in technology names and investors snapped up oversold shares. The Nasdaq rose 3 percent, a day after it confirmed a correction and registered its biggest decline since 2011.

The Dow Jones Industrial Average rose 401.13 points, or 1.63 percent, to 24,984.55, the S&P 500 gained 49.47 points, or 1.86 percent, to 2,705.57 and the Nasdaq Composite added 209.94 points, or 2.95 percent, to 7,318.34.

Asian shares wobbled in early Friday trade, struggling to shake off the previous day’s global markets rout, after weak results from tech giants Alphabet Inc and Amazon.com heightened concerns over world trade and economic growth.

In Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan was flat after pushing slightly lower in the opening hour. South Korea’s Kospi was also down 0.6 percent, and Australia’s shares were hanging on to modest gains of 0.2 percent. Japan’s Nikkei stock index was the biggest gainer, up 0.5 percent.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 22.5 points or 0.22 percent. Nifty futures were trading around 10,160-level on the Singaporean Exchange.

The rupee depreciated by 11 paise to close at 73.27 against the US dollar October 25 due to steady capital outflows and sharp decline in domestic equities amid intensifying geopolitical tensions. Dealers said a spurt in dollar demand from importers and hardening yields in the US markets weighed on the domestic currency.

Foreign investors pulled out around Rs 1,495.71 crore on a net basis from capital markets on October 25 with stocks declining 1 percent in line with global sell-off. FPIs had pulled out Rs 2,046.54 crore on net basis on October 24.

Oil prices rose 1 percent on Thursday, following the US stock market higher a day after Wall Street’s biggest drop since 2011 and as Saudi Arabia’s energy minister signalled major producers may have to intervene in crude markets to support prices.

Brent crude futures rose 72 cents to settle at $76.89 per barrel as US equities rose amid strong corporate earnings. The global benchmark has lost almost $10 a barrel since hitting a high of $86.74 on October 3. US crude settled at $67.33, up 51 cents.

Saudi Arabia said on Thursday the oil market could be shifting towards oversupply in the fourth quarter of the year as oil inventories rise and demand slows, and the top oil exporter will "mirror" such changes in its production.

"We are of the view that the market in the fourth quarter could be shifting towards an oversupply situation as evidenced by rising inventories over the past few weeks," Saudi OPEC governor Adeeb Al-Aama told Reuters on Thursday.

"So we want to be watchful not to over-correct and cause a substantial inventory build," Al-Aama, who heads a joint OPEC and non-OPEC committee which monitors compliance and market fundamentals, said after a recent meeting of the panel, known as the JTC, in Vienna.

Inviting all stakeholders to come forward with suggestions to boost the bond market ecosystem, SEBI chairman Ajay Tyagi has said there is an immense opportunity for development of this market in the backdrop of the NPA crisis in banking sector.

He also said rating agencies have an important role as gatekeepers in maintaining trust of investors in bond market and SEBI would consider further necessary changes in norms for them in consultation with stakeholders, after a number of steps taken to rationalise their governing structure and for close monitoring of ratings.

He noted that a vibrant capital market, both equity and bond, has to play a pivotal role to facilitate fund mobilisation for sustaining the country's projected economic growth momentum. The role of corporate bond market becomes even more important now, given the stress on the banking sector.

The fiscal deficit of the Central government has widened in the first half of 2018-19 to 95.3 percent of the Budget Estimate (BE), mainly on account of slow growth in revenue collections, as per an official data released on Thursday. The deficit was at 91.3 percent of BE at September-end of the last financial year.

In actual terms, the fiscal deficit or gap between the total expenditure and receipts was Rs 5.94 lakh crore during April-September this fiscal. The government has budgeted to cut fiscal deficit to 3.3 percent of GDP in 2018-19 from 3.53 percent in the previous financial year. The fiscal deficit target for 2018-19 is Rs 6.24 lakh crore.

ITC is expected to report stable earnings for the quarter ended September 2018 on October 26. Profit growth is likely to be in the range of 6-17 percent YoY, driven by strong margin performance.

Revenue growth for the quarter is expected to be moderage to good compared to year-ago. Operational numbers are expected to grow in double digit for the quarter ended September 2018 with EBITDA (earnings before interest, tax, depreciation and amortisation) rising 13-18 percent and likely margin expansion of 130-250 bps YoY.

As many as 80 companies will be reporting their results for the quarter ended September which include names like Bharat Electronics, Dr Reddy’s Laboratories, Edelweiss Financial Services, ICICI Bank, ITC, Nestle India, PI Industries and UPL among others.

ICICI Bank is likely to report a steep decline in the second quarter profit due to elevated provisions and weak treasury income, yet loan growth could support net interest income. Asset quality is expected to be stable with lower slippages and watchlist at the end of the September quarter.

Brokerage houses expect profit decline to be in the range of 35-88 percent YoY. The bank reported a loss of Rs 119.6 crore in the June quarter. Net interest income is expected to grow 6-12 percent during the quarter YoY led by loan growth but pressure on the international book may limit growth.

More than 1.45 crore new subscribers joined the Employees' Provident Funds (EPF) Scheme during the one year period through August 2018, says payroll data released by the government on October 25.

The Ministry of Statistics and Programme Implementation (MoSPI) has been bringing out the employment-related statistics in the formal sector since April, 2018 covering the period September 2017 onwards. As per the data, the number of new subscribers joining EPF during September 2017- August 2018 stood at 1,45,63,864.

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 October 26, Adani Power is present in this list.