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Last Updated : Mar 13, 2018 07:50 AM IST | Source: Moneycontrol.com

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

A list of important headlines from across news agencies that could help in your trade today.

Sandip Das @Im_Sandip1

The Nifty50 which started with a gap-up build up momentum in the second half of the trading session to reclaims its crucial 100-days exponential moving average (DEMA) placed around 10,410 on Monday. It made a strong bullish candle or Long White Day on the daily charts.

The Nifty50 which opened at 10,301 rose to an intraday high of 10,433. It slipped marginally to hit an intraday low of 10,295 but managed to close 194 points higher at 10,421.

According to Pivot charts, the key support level is placed at 10,333.37, followed by 10,245.33. If the index starts to move higher, key resistance levels to watch out are 10,471.57 and 10,521.73.

The Nifty Bank closed at 24,664.2 on Monday. The important Pivot level, which will act as crucial support for the index, is placed at 24,443.1, followed by 24,222.0. On the upside, key resistance levels are placed at 24,800.7, followed by 24,937.2.

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 lower

The S&P 500 and the Dow Jones Industrial Average slumped on Monday as the U.S. tariffs signed into law last week by President Donald Trump weighed on industrials, though gains in tech stocks boosted the Nasdaq, Reuters reported.

The Dow Jones Industrial Average fell 157.13 points, or 0.62 percent, to 25,178.61, the S&P 500 lost 3.55 points, or 0.13 percent, to 2,783.02 and the Nasdaq Composite added 27.52 points, or 0.36 percent, to 7,588.33.

Asian markets trade weak

Asian stock markets were lower on Tuesday as Washington's policies hit regional steel producers. The Nikkei 225 slipped 0.35 percent while South Korea's Kospi index was flat, CNBC reported.

SGX Nifty

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 16.5 points or 0.16 percent. Nifty futures were trading around 10,415-level on the Singaporean Exchange.

Retail inflation falls to 4.4 percent in February

India’s retail inflation eased at 4.4 percent in February as prices of vegetables and other food and bevarages softened, data released by statistics office on Monday showed.

Consumer food price inflation fell to 3.38 percent in February as compared with a 4.58 percent growth in January. Vegetables prices grew 17.57 percent in February as compared with nearly a 27 percent a month ago.

India's factory output expands at 7.5% in January

India’s industrial output grew at 7.5 percent in January, data released by statistics office on Monday showed. Manufacturing output in January was at 8.7 percent compared to 8.5 percent in December.

Cumulative IIP growth for the period of April 2017-January 2018 over the corresponding period of the previous year stands at 4.1 percent. Consumer durables output growth was 8 percent in January as compared to while consumer non-durables fell to 10.5  percent in January.

India attracts $209 bn FDI during Apr 2014 to Dec 2017

Foreign direct investment has increased "steadily" in the country with total capital inflows reaching USD 208.99 billion during April 2014 to December 2017 period, Minister of State for Commerce and Industry C R Chaudhary said.

The main sectors that received maximum foreign inflows include services, computer software and hardware, telecommunications, construction, trading and automobile. "A total FDI of USD 208.99 billion from April 2014 to December 2017 has been received."

Goldman Sachs names David Solomon as CEO

Goldman Sachs Group Inc. said David Solomon will become sole president of the company, elevating him over Harvey Schwartz as the eventual successor to chief executive officer (CEO) Lloyd Blankfein, Mint reported.

PNB fraud: IMF calls for governance reforms at PSBs

The International Monetary Fund (IMF) has said banking reforms like insolvency code and recapitalisation will be ineffective unless governance standards are improved.

"Reforms like the IBC Code, bank recapitalisation have taken place. However, for a lasting impact, these efforts are not enough and should be accompanied by governance reforms particularly for public sector banks," deputy managing director Tao Zhang said.

PFRDA expects NPS subscribers to touch 21 million by FY18 end

The Pension Fund Regulatory and Development Authority of India (PFRDA) is expecting the number of National Pension Scheme (NPS) subscribers to hit 21 million by the end of this financial year.

In an interaction with Moneycontrol, Hemant Contractor, chairman, PFRDA, said that they currently have 20.5 million subscribers.

Bharat Dynamics IPO to open today

Bharat Dynamics will open its initial public offer for subscription on March 13, with a price band of Rs 413-428 per share. The initial public offering of 2,24,51,953 equity shares is an an offer for sale by the promoter, The President of India, acting through the Ministry of Defence.

The price band for the offer is at Rs 413-428 per share. Employees and retail investors will get shares at a discount of Rs 10 per share on offer price. The book running lead managers to the offer are SBI Capital Markets, IDBI Capital Markets & Securities and YES Securities (India).

Rupee rises by 13 paise to 65.04

The rupee rose by 13 paise to close at 65.04 against the US currency on the back of foreign fund inflows after sharp gains in equity markets and weakness in the dollar against global currencies. The rupee opened on a strong note and surged by 23 paise to 64.94 against the US dollar at the interbank forex market on fresh selling of the greenback by exporters and banks.

Oil prices fall, Brent at $64.95

Oil prices fell on Monday as investors grappled with ongoing concerns over rising US output and tight OPEC supply. Brent crude futures slipped 54 cents, or 0.8 percent, to settle at USD 64.95 per barrel, Reuters reported.

6 stocks under ban period on NSE

Security in ban period for the next day's trade under the F&O segment includes companies in which the security has crossed 95 percent of the market-wide position limit.

Securities which are banned for trading include names such as Andhra Bank, Balrampur Chini, BEML, DHFL, IDBI Bank, and JP Associates.
First Published on Mar 13, 2018 07:43 am
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