A list of important headlines from across news agencies that could help in your trade today.
The Nifty50 pared most of its gains made in trade on Thursday to close around its opening level forming a ‘Doji’ type of pattern on the daily candlestick charts.
The Nifty50 which opened at 10,537 rose to an intraday high of 10,618 which made a long upper shadow, but bears quickly took control and pushed the index towards 10,500, which made a long lower shadow on the daily charts.
The index hit an intraday low of 10,511 before recouping losses. It closed 44 points higher at 10,545. The index decisively closed below its 50-DEMA placed at 10,599 levels.
According to Pivot charts, the key support level is placed at 10,498.3, followed by 10,451.1. If the index starts to move higher, key resistance levels to watch out are 10,605.4 and 10,665.3.
The Nifty Bank closed at 25,424.35, up 0.33 percent. Important Pivot level, which will act as crucial support for the index, is placed at 25,274.6, followed by 25,124.9. On the upside, key resistance levels are placed at 25,594.6, followed by 25,764.9.
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. rallies for 5th straight session on tech lift
Wall Street surged on Thursday to notch its fifth straight session of gains, led by Apple and other technology stocks as investors shrugged off recent inflation worries that sent the market into a sell-off at the start of the month.
The Dow Jones Industrial Average rose 306.88 points, or 1.23 percent, to 25,200.37, the S&P 500 gained 32.57 points, or 1.21 percent, to 2,731.2 and the Nasdaq Composite added 112.82 points, or 1.58 percent, to 7,256.43, Reuters reported.
Asian markets rise after US gains
Gains on Wall Street lifted Asian equities on the last day of the week, but trading in the region was subdued with many markets shut for the Lunar New Year holiday. Japan's benchmark Nikkei rallied 1.26 percent as the yen weakened, CNBC reported.
Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 37.5 points or 0.36 percent. Nifty futures were trading around 10,594-level on the Singaporean Exchange.
Exports up 9%in Jan; trade deficit widens to over 3-year high
India's exports grew by 9 percent to USD 24.38 billion in January, helped by a healthy growth in shipments of chemicals, engineering goods and petroleum products, even as the trade deficit widened to an over three-year high.
The trade gap soared to USD 16.3 billion in January on account of a 26.1 per cent increase in imports to USD 40.68 billion due to increased inbound shipments of crude oil, as per data released by the commerce ministry.
WPI inflation eases to 6-month low of 2.84% in Jan
India's wholesale inflation eased for the second consecutive month, growing at 2.84 percent in January even as food, vegetable and fuel prices continued to witness an uptrend, latest price data released by the commerce ministry showed.
Latest price data shows that among primary articles, food prices, especially vegetables, potatoes, onions, eggs, milk and fruits continued to rise, while prices wheat and pulses continued to fall compared to last year.
RBI nudges PNB to pay up in the Rs 11.4K cr scam to contain contagion effect
The Reserve Bank of India has advised Punjab National Bank (PNB) to repay banks which loaned money to firms associated with jewellers Nirav Modi and Gitanjali Gems, sources told Moneycontrol.
These banks--foreign branches of Indian banks--had cumulatively loaned Rs 11,400 crore to the above mentioned firms on the basis of a fraudulent Letter of Undertaking (LoU) issued by PNB. The LoU makes PNB liable to repay the loans if the borrowers default.
Indian digital payments to reach $1 trillion by 2023: Credit Suisse
Entry of global players into India's digital payment space is expected to grow the segment by about five-fold to USD 1 trillion by 2023, investment banking firm Credit Suisse said in a report.
"Digital payments (in India) currently aggregate less than USD 200 billion, of which mobile is still at just USD 10 billion in financial year (FY) 2018 E (estimated) . We estimate that the total digital payment market in India will grow to USD 1 trillion by FY23E led by the growth in mobile payments," the report said.
Centre to change base year for GDP, IIP to 2017-18
The government will change the base year to 2017-18 for the calculation of GDP and IIP numbers while for retail inflation the year will be revised to 2018, Union minister D V Sadananda Gowda said on Thursday.
The statistics ministry has proposed the new base year for GDP and IIP as 2017-18 while for CPI it will be 2018.
Aster DM Healthcare IPO subscribed 1.3 times on final day
Aster DM Healthcare initial public offering has oversubscribed 1.3 times on final day, as per data available on the NSE website. The IPO, which aims to raise Rs 980 crore, has received bids for 4.87 crore equity shares on Thursday against issue size of 3.73 crore shares, excluding anchor investors' portion.
The IPO comprises of fresh issue of equity shares worth up to Rs 725 crore and an offer for sale of up to 1,34,28,251 shares by the company's promoter Union Investments.
Retail investors in IPO to get compensation: SEBI
SEBI on Thursday said retail investors applying for shares in IPOs would need to be compensated if bankers fail to make the allotment despite their eligibility.
While calculating minimum compensation, several factors need to be taken into account like opportunity loss suffered by the investor due to non-allotment of shares; number of times the issue was oversubscribed in the relevant category; probability of allotment; and listing gains if any on the day of listing.
Rupee hits two-week high against dollar
Extending gains for the third straight session, the rupee today advanced by 18 paise to close at 63.91 per dollar on sustained selling of the American currency by exporters and banks.
The rupee gained 18 paise today to end at a two-week high of 63.91 against the dollar, a level last seen on January 31 when it had finished at 63.58.
28 companies to report Q3 numbers todayAs many as 28 companies are likely to report Q3 numbers today including names like ITD Cementation, Sanofi, TVS Motor Company, NBCC and RAIN Industries among others.LIVE NOW... Video series on How to Double Your Monthly Income... where Rahul Shah, Ex-Swiss Investment Banker and one of India's leading experts on wealth building, reveals his secret strategies for the first time ever. Register here to watch it for FREE.