A list of important headlines from across news agencies that could help in your trade today.
The bulls managed to regain control of D-Street on Monday with Nifty50 rising above 10,500. The index formed a small bullish candle on the daily candlestick charts which suggest that the rally could extend towards 10,700.
The Nifty50 which opened at 10,518.20 rose to an intraday high of 10,555.50. It slipped marginally to hit an intraday low of 10,485.40 before closing 84 points higher at 10,539.75.
According to Pivot charts, the key support level is placed at 10,498.3, followed by 10,456.8. If the index starts to move higher, key resistance levels to watch out are 10,568.4 and 10,597.
The Nifty Bank closed at 25,701.60, up 0.93 percent. Important Pivot level, which will act as crucial support for the index, is placed at 25,538.73, followed by 25,375.87. On the upside, key resistance levels are placed at 25,811.13, followed by 25,920.67.
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 St. advances; investors lock on inflation data
Wall Street climbed on Tuesday for a third straight session, buoyed by Amazon.com and Apple, while investors focused on inflation data on Wednesday that could upset the market’s fragile recovery - or clear the way for additional gains.
The Dow Jones Industrial Average rose 0.16 percent to end at 24,640.45 points, while the S&P 500 gained 6.94 points to close at 2,662.94. The Nasdaq Composite added 0.45 percent to 7,013.51, Reuters reported.
Asian stocks trade mixed despite US gains
Asian markets traded mixed early on Wednesday despite the slightly firmer lead from Wall Street, which recorded a third consecutive day of gains in the last session.
The Nikkei 225 tacked on 0.38 percent while the Kospi advanced 0.89 percent, CNBC reported.
Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 83 points or 0.79 percent. Nifty futures were trading around 10,548-level on the Singaporean Exchange.
US pushes motion to put Pak on global terrorist-financing watch-list
The United States has put forward a motion to place Pakistan on a global terrorist-financing watch-list with an anti-money-laundering monitoring group, a senior Pakistani official said.
Pakistan has been scrambling in recent months to avert being added to a list of countries deemed non-compliant with terrorist financing regulations by the Financial Action Task Force (FATF), a measure that officials fear could hurt its economy.
India Inc topline nearly halves to 9.3% in Q3
Revenue growth of India Inc nearly halved to 9.3 per cent in the third quarter from 17.7 per cent a year-ago, due to a combination of factors, including the ongoing restocking process and adjustment to GST at the SME level, says a Care Ratings report.
RBI asks for weekly default disclosures in revised framework; withdraws SDR, S4A and JLF
The Reserve Bank of India has revised the new stressed assets framework asking banks to resolve defaults within 180 days. Starting February 23, banks must immediately identify the defaults and make disclosures every Friday to the RBI credit registry.
The RBI, however, clarified these timelines do not apply to accounts where insolvency action has already been initiated at the insistence of the central bank.
For accounts with an exposure of Rs 2,000 crore or more, banks will have to ensure that a resolution plan is in place within 180 days after a ‘default’. If not implemented within the timeframe, the account must be referred to the insolvency courts within 15 days. For accounts with exposure of Rs 100 crore to Rs 2,000 crore a timeline for resolution will be announced over a two-year period.
MF Industry AUM rises to Rs. 22.41 lakh crore in Jan : ICRA
The Assets Under Management (AUM) of the Indian mutual fund industry came in at Rs. 22.41 lakh crore in January 2018, up from Rs 21.38 lakh crore in December 2017. The calendar year started on a high note and AUM of the Equity category crossed the milestone of Rs 7 lakh crore, says AMFI.
The total net inflow for January 2018 stood at Rs 1,06,159 crore with the maximum inflow of Rs 96,552 crore witnessed in the Liquid category. In January 2018, Equity funds (including ELSS) witnessed monthly net inflows of Rs. 15,390 crore, down 4 percent MoM.
PE/VC investments worth $3.5 bn in Jan 2018: EY Report
Private equity/venture capital investments worth USD 3.5 billion were announced in January this year, led by big ticket transactions, says an EY report.
According to EY's private equity monthly deal tracker, January recorded almost double the value of investments witnessed during same month last year (USD 3.5 billion in January 2018 as against USD 1.2 billion in January 2017).
Banks may take Rs 30,500-cr hit on rising bond yields
Persistent rise in bond yields is likely to shave Rs 30,500 crore from the banks' balance-sheets in the current financial year, with state-run lenders being the worst hit, warns a report.
A report by India Ratings also said public sector banks would continue to report losses for this fiscal.
1134 companies scheduled to report Q3 results
AS many as 1134 companies are scheduled to report Q3 results today including 8K Miles, Abbott India, Allahabad Bank, Alok Industries, Bhushan Steel, Cox & Kings, DB Realty, Dena Bank, Essar Shipping, Gitajali Gems, Gujarat NRE Coke, GTPL Hathway, GVK Power & Infra, Indo Count Industries, Idea Cellular, Jet Airways, Max Ventures, Prism Cements, Punj Lloyd, Tata Power etc. among others.
Rupee closes higher
The home currency closed at 64.32 a dollar, up 0.13 percent from its Friday’s close of 64.40. The rupee opened at 64.26 a dollar and touched a high and a low of 64.24 and 64.33, respectively.So far this year, the rupee has lost 0.69 percent, while foreign institutional investors have bought USD 1.48 billion and USD 2.06 billion in equity and debt, respectively.