A list of important headlines from across news agencies that could help in your trade today.
The Nifty50, which started on a positive note, failed to keep the momentum going on Wednesday as D-Street got hit by fraud detected in Punjab National Bank, which weighed on the PSU Banking pack. The Nifty formed a bearish candle and a bearish engulfing pattern on the daily charts.
The Nifty closed below its short-term moving averages of 5-days exponential moving average (DEMA) and 50-DEMA. A break above 10,600 could turn the tables in favour of the bulls while a close below 10,398 could extend the selling pressure, which could take the index towards 200-DMA.
According to Pivot charts, the key support level is placed at 10,441.57, followed by 10,382.23. If the index starts to move higher, key resistance levels to watch out are 10,575.37 and 10,649.83.
The Nifty Bank closed at 25,341.25, down 1.4 percent. Important Pivot level, which will act as crucial support for the index, is placed at 25,098.94, followed by 24,856.67. On the upside, key resistance levels are placed at 25,696.84, followed by 26,052.47.
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 markets end higher
Wall Street surged on Wednesday as investors shrugged off stronger-than-expected inflation data and snapped up shares of Facebook, Amazon.com and Apple.
The Dow Jones Industrial Average jumped 1.03 percent to end at 24,893.49 while the S&P 500 rose 1.34 percent to finish at 2,698.63. The Nasdaq Composite surged 1.86 percent to 7,143.62, Reuters reported.
Asian markets advance following sharp US gains
Asian stocks advanced early on Thursday, taking cues from the rally on Wall Street following the release of stronger-than-expected US inflation data overnight. The Nikkei 225 rose 1.14 percent, or 242.61 points, in early trade, CNBC reported.
Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 78.5 points or 0.75 percent. Nifty futures were trading around 10,541-level on the Singaporean Exchange.
PNB-Nirav Modi fraud case: ED registers money laundering case
The Enforcement Directorate (ED) has registered a money laundering case in connection with the Rs 280-crore cheating of Punjab National Bank (PNB) allegedly by diamantaire Nirav Modi and others, on the basis of a CBI FIR.
The CBI had booked diamond merchant Nirav Modi, his brother, wife and a business partner for allegedly cheating PNB of over Rs 280.70 crore in 2017.
PNB fraud: Sebi likely to probe disclosure lapses by banks, jewellery firms
Sebi is likely to probe possible disclosure lapses by banks and other listed companies, including several jewellery firms, that have come under the scanner in connection with the whopping Rs 11,000 crore fraud detected at state-owned PNB.
Aster DM Health IPO subscribed 45% on day 2
The initial public offer of Aster DM Health was subscribed 45 percent on the second day of its public issue today, according to merchant bankers. The IPO, which aims to raise Rs 980 crore, received bids for over 1.62 crore shares against the total issue size of over 3.74 crore scrips.
Kotak Mahindra Capital Company, Axis Capital and Goldman Sachs (India) Securities, ICICI Securities, JM Financial and Yes Securities will manage the company's public issue.
Core banking use soars 400% in 2017 on digital agents: Report
Transactions via core banking services have seen a 400 per cent spike in 2017 on increasing use of agent points for financial transactions along with government-to-people facilitation services, says a study by financial inclusion consulting firm MicroSave in partnership with Bill & Melinda Gates Foundation.
lmost two-thirds of the agents conduct interoperable transactions, finds the report. While about 70 percent of interoperable agents offer cash-in services, about 60 per cent offer cash-out and remittances for other banks, it said.
Gold extends gains
Rising for the third day in a row, gold prices climbed by another Rs 135 to Rs 30,210 per 10 grams here today, tracking a firm trend overseas and increased buying by local jewellers.
Globally, Gold rose for a third day, pulling further away from last week's one-month low as the dollar wilted ahead of US inflation data due later in the day. Spot gold was up 0.1 per cent at USD 1,330.96 an ounce at early trade.
US dollar ends sharply cheaper against rupee
The US dollar ended sharply cheaper against the rupee at 64.09/10 per unit and the pound sterling also finished lower at Rs 88.76/78 per pound at the close of the Interbank Foreign Exchange (forex) market.
6 stocks under ban period on NSE
Security in ban period for the next trade date under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.
The security which are banned for trading are Balrampur Chini, Dish TV, GMR Infra, HDIL, JP Associates and Oriental Bank.
South African President Zuma resigns
South African President Jacob Zuma resigned on Wednesday in a televised address to the nation, ending a turbulent tenure marred by corruption scandals that sapped the popularity of the ruling African National Congress and hurt one of Africa’s biggest economies, AP reported.
17 killed in Florida school shootingAt least 17 people, including students, were killed after a former student opened fire at a Florida high school, law enforcement officials said on Wednesday. The shooting suspect, identified as Nicolas Cruz, has been taken into custody. The FBI is assisting local officials in the investigation.