A look at top cues from the domestic and international markets that could have a bearing on D-Street today.
The Nifty50 which started on a flat note gained momentum but remained volatile throughout the trade on Thursday and closed with marginal gains. The index remained choppy for the most part of the trading session and finally closed with the marginal gains of 7 points at 10,086.60. It rose marginally to 10,126.50 but then witnessed selling pressure which took the index towards its intraday low of 10,070.35.
The Nifty closed at 10,086.6 on Thursday. According to Pivot charts, the key support level is placed at 10,062.43, followed by 10,038.27. If the index starts to move higher, key resistance levels to watch out are 10,118.63 and 10,150.67.
The Nifty Bank closed at 24,912.2 on Thursday. Important Pivot level, which will act as crucial support for the index, is placed at 24,820.37, followed by 24,728.53. On the upside, key resistance levels are 24,999.17, followed by 25,086.13.
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:
Dow strikes record high as broader market weakens
Rising shares of Boeing pulled the Dow Jones Industrial Average up to a record high on Thursday, while the S&P 500 fell as investors saw higher-than-expected inflation increasing the chances of an interest rate hike. The Dow Jones rose 0.2 percent to end at 22,203.48 points, while the S&P 500 lost 0.11 percent to 2,495.62. The Nasdaq Composite dropped 0.48 percent to 6,429.08, Reuters reported.
Most Asia markets pressured after North Korea missile test
Most indexes in Asia were moderately lower on Friday after North Korea launched a missile in the direction of the east. Nikkei 225 shrugged off elevated geopolitical tensions in the region to advance 0.24 percent.
South Korea's benchmark Kospi index, however, came under some pressure. The index lost 0.46 percent in early trade while the S&P/ASX 200 shed 0.39 percent with the 1.14 percent fall in the materials sub-index driving losses on the broader index, reported CNBC.
The Nifty50 futures on the Singapore Stock Exchange were trading 57 points lower at 10066.50 indicating a negative opening for the domestic market.
Shell companies: Tax dept, corporate ministry to share PAN, audit reports to curb black money
To take quick action against companies that default on statutory obligations or indulge in financial crimes, the corporate affairs ministry and the Central Board of Direct Taxes have agreed to exchange financial data of companies on a regular basis, the government said on Thursday.
The agreement covers sharing of permanent account numbers of key managerial personnel in companies, income-tax returns, financial statements, audit reports and statements of financial transactions received from banks relating to businesses, Livemint reported.
SEBI raises several observations on HDFC Standard Life IPO: Sources
SEBI has raised observations regarding the HDFC Standard Life Insurance’s IPO based on the Draft Red Herring Prospectus filed, a source told Moneycontrol. The regulator has sought clarification on a number of issues including the risk factors and conflict of interest between HDFC and HDFC Standard Life, among others.
End of road for 10-year-old diesel cars, NGT refuses to lift ban
A decade old diesel vehicles will now have to go off the roads with the National Green Tribunal on Thursday declining to lift its ban on them in Delhi-NCR, noting that emissions from diesel vehicles were carcinogenic. The green panel said the Ministry of Heavy Industries and Public Enterprises has failed to prove that the use of 10 year old vehicles will not be harmful to the health of people, PTI reported.
GDP to remain below 6% in Q2 FY’18: SBI report
GDP is likely to remain below 6 percent in the second quarter of 2017-18 owing to muted agriculture growth and sluggish performance of manufacturing and mining sector, says a SBI research report. While it has estimated GDP numbers to remain muted at sub-6 percent for the July-September quarter, the third and fourth quarter growth is expected to be below 6.5 percent, Livemint reported.
North Korea fires missile over Japan, lands far out in the Pacific
North Korea fired a missile that flew over Japan's northern Hokkaido far out into the Pacific Ocean on Friday, South Korean and Japanese officials said. The missile flew over Japan and landed in the Pacific about 2,000 km (1,240 miles) east of Hokkaido, Japanese Chief Cabinet Secretary Yoshihide Suga said, as reported by The Economic Times.
HDFC MF to revise benchmark index for HDFC floating rate fund
HDFC Mutual Fund will revise the performance benchmark for HDFC Floating Rate Income Fund - long term plan with effect from September 15, a notice from the fund house stated. Subsequently, the open-ended income scheme will be benchmarked against CRISIL Short Term Bond Fund Index as against CRISIL Liquid Fund Index at present.
Rise in inflation likely to keep RBI on hold: Morgan Stanley
The Reserve Bank is likely to hold the key rate in the monetary policy review next month following a jump in inflation and is expected to focus more on resolving the problem of bad loans in the banking system, says a Morgan Stanley report.
There was an uptick in headline inflation in August driven by implementation of the House Rent Allowance (7th Pay Commission) hike and accordingly the RBI is expected to keep rates on hold, it added, as reported by The Economic Times.
ICICI Lombard allots Rs 1,624.77 cr ahead of IPO
ICICI Lombard raises Rs 1,624.77 crore by allotting 2.458 crore shares to 64 anchor investors at the upper band of Rs 661 apiece. The issue will open on Friday, September 15 and close on September 19 with a price band of Rs 651-661 per share. The company's initial public offer (IPO) involves dilution of up to 86,247,187 equity shares by promoters — ICICI Bank and Fairfax. The initial share-sale offer would close on September 19.
Most cases on RBI’s second defaulter list may go to NCLT
Lenders are likely to refer majority of stressed cases identified by the Reserve Bank of India (RBI) in its second list for insolvency proceedings rather than resolve them outside the National Company Law Tribunal (NCLT), said three people familiar with the matter, Livemint reported.
Rupee slides 12 paise to 64.12 against US dollar
The rupee was again caught in a downward spiral and slipped by 12 paise to 64.12 against the US dollar on Thursday on fresh demand for the American currency from banks and importers amid persistent foreign capital outflows.
The domestic currency started on a negative note at 64.17 against the Wednesday's closing level of 64 at the forex market before concluding at 64.12 a dollar, a loss of 12 paise or 0.19 percent, PTI reported.
Oil prices holding gains as demand outlook brightens
Oil prices were lower on Friday but largely held gains that had prices flirting with multi-month highs, as the clean up after hurricanes in the United States gathered pace and the outlook for demand took on a firmer tone, Reuters reported.
CBI starts probe in Rs 25,000 crore chit fund scam in JharkhandThe CBI has taken over the investigation of the four cases pertaining to chit fund scam believed to be involving funds of over Rs 25,000 crore in Jharkhand on the directions of the state High Court. The agency has re-registered four FIRs pertaining to chit fund companies -- DJN group of companies, Gurukul group of companies, Shashank Industries Corporation and Star Finance company, PTI reported.