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Last Updated : May 10, 2019 07:13 AM IST | Source: Moneycontrol.com

What changed for the market while you were sleeping? Top 12 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 fell for the seventh straight session on May 9. The Sensex slipped over 200 points and the Nifty closed just above 11,300 levels on the back of weak global cues.

At close, the Sensex was down 230.22 points at 37,558.91, while Nifty was down 57.70 points at 11,301.80. About 1,074 shares advanced, 1,370 shares

declined, and 150 shares were unchanged.

Top losers on the Nifty were Reliance Industries, BPCL, Coal India, Asian Paints and NTPC, while gainers were Zee Entertainment, Yes Bank, Bajaj Finserv, Bajaj Finance and Hero Motocorp.

Among sectoral indices, metal, infra, energy, pharma, and bank ended in the red, while some buying was seen in the IT and FMCG spaces.

According to the Pivot charts, the key support level is placed at 11,252, followed by 11,202.2. If the index starts moving upward, key resistance levels to watch out are 11,354.6 and 11,407.4.

The Nifty Bank index closed at 28,884.6, down 109.8 points on May 9. The important Pivot level, which will act as crucial support for the index, is placed at 28,766.1, followed by 28,647.6. On the upside, key resistance levels are placed at 29,021.7, followed by 29,158.8.

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 dips as investors await outcome of US-China trade talks

Wall Street’s main indexes fell on Thursday ahead of critical trade negotiations between the United States and China, though they pared losses significantly after US President Donald Trump said reaching a deal this week was possible.

The Dow Jones Industrial Average fell 138.97 points, or 0.54%, to 25,828.36, the S&P 500 lost 8.7 points, or 0.30%, to 2,870.72 and the Nasdaq Composite dropped 32.73 points, or 0.41%, to 7,910.59.

Asian shares near 2-month lows ahead of looming US tariff hike

Asian shares inched up from two-month lows on Friday just hours ahead of the Trump administration’s plan to raise tariffs on Chinese imports as investors looked to whether negotiators from the two countries can clinch a deal to avert the hike.

MSCI’s broadest index of Asia-Pacific shares outside Japan ticked up 0.2 percent while Japan’s Nikkei rose 0.4 percent. E-mini futures for U.S. S&P500 rose 0.4 percent in early Asian trade.

SGX Nifty

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 28 points or 0.25 percent. Nifty futures were trading around 11,314-level on the Singaporean Exchange.

First day of US-China trade talks end; Trump's tariff hike set to take effect

Top US and Chinese trade negotiators concluded the first of two days of talks on Thursday to rescue a trade deal that is close to collapsing as Washington prepares to go ahead with plans to hike tariffs on hundreds of billions of dollars of goods imported from China.

Chinese Vice Premier Liu He, US Trade Representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin talked for 90 minutes on Thursday and were expected to resume talks on Friday. Officials did not speak to reporters as they left the talks. In comments to Chinese state media upon arriving in Washington, Liu said that hiking tariffs “is very disadvantageous to both parties”.

“We come here this time, under pressure, which shows China’s greatest sincerity, and want to sincerely, confidently, and rationally resolve certain

disagreements or differences facing China and the United States. I think there is hope,” he said.

Oil rallies on hopes for US-China trade deal

US oil prices rose on Friday on renewed optimism that a trade deal between Washington and Beijing could be struck, as investors have been fearing that a protracted tariff war would harm global economic growth.

Brent crude futures were at $70.85 a barrel at 0021 GMT, up 48 cents, or 0.7 percent, from their last close. Brent closed little changed in the previous session. US West Texas Intermediate (WTI) crude futures were at $62.29 per barrel, up 59 cents, or 1 percent, from their previous settlement. WTI closed the last session down 0.7 percent.

Rupee slumps 23 paise vs US dollar

Falling for the fourth straight session, the rupee depreciated by 23 paise to 69.94 against the US dollar May 9 on unabated foreign fund outflows amid

simmering US-China trade tensions. Firming oil prices and a prolonged spell of weakness in the equity markets also weighed on the domestic unit, dealers said.

At the interbank foreign exchange market, the rupee opened marginally lower at 69.70 and slipped further to breach the 70-mark, touching a low of 70.03, before finally settling at 69.94, down by 23 paise over its previous close.

US-China trade tensions 'threat to the global economy': IMF

Trade tensions and the exchange of tariffs between the United States and China pose a "threat to the global economy", the International Monetary Fund warned on May 9. Renewed tensions between the two economic superpowers were hanging over the negotiations that were set to resume later May 9 and IMF spokesman Gerry Rice renewed the call for a "speedy resolution".

"Clearly tensions between the United States and China in the trade sphere are a threat to the global economy," Rice said. "As we have said before, everybody loses in a protracted trade conflict."

Inflows into equity MFs slump 61% in April; FMPs register Rs 17,644 cr outflow

Net inflows into equity mutual funds plunged 61 per cent to Rs 4,609 crore in April compared to the previous month, as volatility in stock markets and uncertainty over outcome of general elections impacted investor sentiments. In March, net inflows into equity funds stood at Rs 11,756 crore. Latest data from the Association of Mutual Funds in India (AMFI) showed that net inflows into these funds dropped 60.79 per cent in April compared to the previous month.

The Fixed Maturity Plans (FMPs) witnessed a net outflow of Rs 17,644 crore last month while net outflow from debt-oriented schemes stood at Rs 18,949.76 crore, as per AMFI.

Bitcoin crosses $6,000 mark to hit 6-month high

Bitcoin breached the $6,000 mark on most cryptocurrency exchanges on May 9, hitting its highest level against the dollar in nearly six months. The

cryptocurrency has gone through a tumultuous phase since hitting a record high of over $20,000 in December 2017, before crashing to a low of nearly $3,100, a year later, in December 2018. However, it has recovered since then, albeit slowly.

As per bitcoinprice.com, bitcoin hit an intraday high of $6,138.30, recovering over 60 percent so far this year.

Equity MF inflows muted, but SIP inflows hit an all-time high in April

Assets under management (AUM) of the mutual fund industry stood at Rs 24.8 lakh crore at April-end, up four percent month-on month (MoM) , data from Association of Mutual Funds in India (AMFI) showed. Equity systematic investment plans (SIPs) stood out in the crowd, racing to an all-time high.

MFs saw a total investment of Rs 1,00,460 crore in April, mainly driven by large inflows into liquid and money market funds, while flows into equity funds moderated. Exchange-traded funds (ETFs) saw capital outflows though.

55 companies to report March quarter numbers today

As many as 55 companies will declare its results for the quarter ended March which include names like Eicher Motors, Allahabad Bank, Canara Bank, HT Media, IDFC First Bank, L&T, PVR, State Bank of India, Syndicate Bank, Venky’s and V-Mart among others.

One stock under ban period on NSE

For May 10, Jet Airways is in the list of stocks under a ban. Securities in ban period under the F&O segment include companies in which the security has

crossed 95 percent of the market-wide position limit.

With inputs from Reuters & other agencies
First Published on May 10, 2019 07:13 am
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