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What changed for the market while you were sleeping? 20 things you should know

A look at top cues from domestic and international cues that could have a bearing on D-Street.

October 10, 2017 / 08:45 AM IST

The Nifty opened at 9988.20 and closed virtually at the similar level at 9988.75 thus forming a Doji pattern. It rose to an intraday high of 10,015.75 making an upper shadow and fell to an intraday low of 9959.45 which makes for the long lower shadow.

According to Pivot charts, the key support level is placed at 9,960.2, followed by 9,931.65. If the index starts to move higher, key resistance levels to watch out are 10,016.55 and 10,044.35.

The Nifty Bank closed at 24,251.9. Important Pivot level, which will act as crucial support for the index, is placed at 24,168.3, followed by 24,084.7. On the upside, key resistance levels are 24,323.3, followed by 24,394.7.

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 as quarterly reports loom

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Wall Street fell from record levels on Monday as gains in Microsoft and other technology stocks failed to offset a drop in General Electric and a slide in healthcare stocks. The Dow Jones Industrial Average declined 0.06 percent to end at 22,761.07, while the S&P 500 lost 0.18 percent to 2,544.73. The Nasdaq Composite dropped 0.16 percent to 6,579.73.

Asia markets climb, Nikkei up 0.12%

Asian shares climbed in early Tuesday trade as markets shrugged off the softer close on Wall Street. Japan's Nikkei 225 rose 0.12 percent in early trade. The Kospi surged 1.55 percent as blue-chip tech plays notched robust gains. Australia's S&P/ASX 200 rose 0.13 percent, CNBC reported.

SGX Nifty

The Nifty50 futures on the Singapore Stock Exchange were trading 2 points higher at 10024 indicating a flat opening for the domestic market.

Trump comment on North Korea sparks calls for restraint

Russia and China called for restraint on North Korea on Monday after US President Donald Trump warned over the weekend that “only one thing will work” in dealing with Pyongyang, hinting that military action was on his mind, as reported by Livemint.

PM Modi targets more energy reforms after meeting oil chiefs

Prime Minister Narendra Modi sees scope for further reform of the country's energy sector and has received "focused suggestions" from some of the world's leading energy companies, the office of the premier said on Monday.

Modi was quoted as saying he looked forward to "various opportunities" for cooperation between India and Saudi Arabia, the second biggest oil exporter to the country behind Iraq, Reuters reported.

Petrol pumps nationwide to be shut for 24 hrs from Oct 12

The United Petroleum Front (UPF) on Monday announced a 24-hour closure of outlets by petroleum dealers nationwide from October 12 midnight to press the government on their demands, including rectification of trade anomalies, PTI reported.

Jobs big worry as economy remains in 'pessimistic zone'

A series of surveys conducted by the Reserve Bank of India (RBI) have indicated that the present perception of households on the general economic situation remains in the pessimistic zone and is likely to worsen. The RBI's Consumer Confidence Survey says the response to the current perception of the general economic situation showed 34.6 percent as "improved" as of September 2017, down from 44.6 percent in September 2016.

World Bank cuts India GDP growth forecast to 7% for 2017-18

India’s economy slowed to its lowest level in 13 quarters, the World Bank said on Monday blaming disruptions caused by demonetisation and the implementation of GST, while maintaining at the same time that the economy would claw back to grow at 7.4 percent by 2019-20, Livemint reported.

Jan-Sep global M&A deal tally at $2.2 trn: Mergermarket

Following a strong showing in the first half of this year, global merger and acquisition activity suffered in the third quarter with deals worth just USD 674 billion, says a report. According to global deal tracking firm Mergermarket, the third quarter of 2017 has seen just USD 674 billion, the lowest quarterly value since the first quarter of 2016 when 4,349 deals worth USD 623.4 billion took place, PTI reported.

Fiscal test: PM faces stimulus dilemma as smaller firms struggle

The government is considering spending between USD 7.7 billion more this financial year than it had budgeted for. The economy grew at an annual 5.7 percent year-on-year in the three months to end-June, its slowest in three years. The launch of GST has left firms at the bottom of the supply chain short of working capital, Reuters reported.

MAS Financial Services IPO subscribed 4.81 times on Day 2

The initial share sale of MAS Financial Services Ltd, was subscribed 4.81 times on Monday, the second day of the IPO, according to data from stock exchanges. On the first day of the offering on Friday, the issue had already witnessed full subscription, Livemint reported.

Top oil cos' heads for bringing oil under GST: Amitabh Kant

Chiefs of several global and Indian oil companies, including Reliance Industries Chairman Mukesh Ambani, want petroleum products to be included in the Goods and Services Tax, Niti Aayog CEO Amitabh Kant said.

Kant said global oil giants, including Saudi Aramco and Moscow- controlled oil giant Rosneft, have committed to increasing investment in India, adding that Saudi Arabia plans to invest USD 300 billion In India in 4-5 years, PTI reported.

PM Modi sees scope for further reforms in energy sector

Prime Minister Narendra Modi on Monday said there is scope for further reforms in the country's energy sector as he met CEOs of top global and Indian firms to explore ways to raise domestic output and cut imports, PTI reported.

14 lakh businesses yet to file July GSTR-1

The government on Monday asked 14 lakh businesses to file final GST returns for the month of July by Tuesday and announced that the due date of October 10 will not be extended further. Till 1900 hours on Monday, 39 lakh businesses had filed the final sales returns or GSTR-1 out of 53 lakh who are scheduled to submit the tax form, PTI reported.

Indian Energy Exchange IPO subscribed 15% on Day 1

The initial public offer (IPO) of Indian Energy Exchange was subscribed 15 percent on the first day of bidding on Monday. The IPO to raise Rs 1,001 crore received bids for 6,53,022 shares as against the total issue size of 60,65,009 shares, data available with the NSE showed.

Bank union seeks investigation into top 100 NPA accounts

A union of bank employees on Monday asked the Centre to order an investigation into the top 100 non-performing asset (NPA) account holders. The probe in these accounts should be carried out by the Serious Fraud Investigation Office (SFIO) or any other competent agency, the Bank Employees' Federation of India (BEFI) said.

Govt appoints 9 executive directors for public sector banks

The government has approved the appointment of nine executive directors, according to reports. On July 4, 2017 the Chairman and members of the Banks Board Bureau (BBB) recommended 15 General Managers to the Government of India for the post of Executive Directors in public sector banks.

Companies plan investments on e-vehicles, batteries & charging infra

India Inc is preparing plans for mega investments for the electric vehicle mission including charging infrastructure worth thousands of crores in cities, batteries and purchase of three-wheelers and cars.

Praveer Sinha, chairman and managing director of Tata Power Delhi Distribution Ltd, said the company plans to partner DMRC and Municipal Corporation of Delhi to set up charging stations at metro stations and other possible locations, The Economic Times reported.

Disqualification of directors hits 500 listed companies

Stock exchanges have sent notices to listed companies that share directors who have been disqualified for associating with other firms which haven’t filed their financial statements or annual returns for three years. NSE has so far sent out 307 notices to listed companies in two tranches while BSE has identified 500 companies so far and is sending out notices to these firms, Livemint reported.

Tata Group to consider buying Air India: N. Chandrasekaran

Tata Sons Ltd executive chairman N. Chandrasekaran has said the group will look at Air India disinvestment being executed by the government currently. In 2000, the Tata group and Singapore Airlines had expressed their interest in acquiring up to 40 percent of Air India, Livemint reported.

Will not revoke Article 50 EU exit process: Theresa May

Britain will not revoke the ‘Article 50’ legal process which started a two-year Brexit negotiating period, Prime Minister Theresa May said on Monday. "The government made clear that we have no intention of revoking that, we will be delivering on the vote of the British people," May told parliament, Reuters reported.

Rupee edges up 2 paise on weak dollar

Snapping a two-session fall, the rupee eventually ended marginally higher by 2 paise at 65.36 against the American currency in a highly volatile trade amid weak dollar overseas, PTI reported.

Oil prices stable on signs of market rebalancing

Oil prices were stable on Tuesday as OPEC said there were clear signs the market was rebalancing and as US production remained offline following Hurricane Nate. Brent crude futures, the international benchmark for oil prices, were up 5 cents, or 0.1 percent, at USD 55.84 a barrel, Reuters reported.
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