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The Nifty opened with a gap on the upside but failed to add momentum and closed just above its opening level making a ‘Doji’ kind of candle for the second consecutive day in a row on Tuesday.
The Nifty closed at 10,017.0 on Tuesday. According to Pivot charts, the key support level is placed at 10,001.53, followed by 9,986.07. If the index starts to move higher, key resistance levels to watch out are 10,033.23 and 10,049.47.
The Nifty Bank closed at 24,347.4. Important Pivot level, which will act as crucial support for the index, is placed at 24,287.46, followed by 24,227.53. On the upside, key resistance levels are 24,393.57, followed by 24,439.73.
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, Dow hits all-time high
The Dow Jones Industrial Average hit a record high on Tuesday and rose 0.31 percent to 22,830.68 points, a record-high close. It is up 15.5 percent in 2017, helped by a surge in Wal-Mart Stores. The S&P 500 gained 0.23 percent to 2,550.64 and the Nasdaq Composite added 0.11 percent to 6,587.25, Reuters reported.
Asian shares edge up following stronger US lead
Asia markets were mostly higher on Wednesday, taking cues from signs of confidence in the US. Japan's Nikkei 225 was off 0.13 percent in early trade while the Kospi gained 0.42 percent and the S&P/ASX 200 tacked on 0.66 percent, CNBC reported.
SGX Nifty
The Nifty50 futures on the Singapore Stock Exchange were trading 29.50 points higher at 10073 indicating a flat to positive opening for the domestic market.
GIC's $1.7-bn IPO to open on Wednesday
General Insurance Corp of India (GIC Re) is all set to kick off its mega Rs 11,370 crore initial public offer on Wednesday. The state-run reinsurer said it will sell 12,47,00,000 shares in Rs 855-912 apiece band in the IPO that will conclude on October 13. The offer would constitute 14.22 per cent of the post-offer paid-up equity share capital, The Economic Times reported.
Gujarat, Maharashtra cut VAT on petrol & diesel
Maharashtra and Gujarat just ahead of Diwali, the two states have slashed value added tax (VAT)on petrol and diesel. The Gujarat government on Tuesday reduced the VAT on petrol and diesel by 4 percent while, the Maharashtra Cabinet has decided to slash prices of petrol and diesel by Rs 2 and Re 1 respectively, effective midnight.
The Himachal government on Tuesday decided to also reduce VAT on petrol and diesel by 1 percent to provide relief to people. The VAT on petrol and diesel would be cut by 1 percent to give relief to people, said chief minister Virbhadra Singh, PTI reported.
North Korea alleges 'CIA tried to assassinate Kim Jong-un'
North Korea has alleged that the Central Intelligence Agency (CIA) of the US had attempted to assassinate its supreme leader Kim Jong-un last May. The KCNA claimed that in May terrorists infiltrated the country on the orders of CIA and the South Korean Intelligence Service.
IMF lowers India's growth forecast
The IMF on Tuesday lowered India's growth projection to 6.7 percent in 2017, 0.5 percentage points less than its previous two forecasts in April and July, attributing it to demonetisation and introduction of the GST. It also lowered the country's growth for 2018 to 7.4 percent, 0.3 percentage points less than its previous two projections in July and April, PTI reported.
Sebi ban on 28 entities for illegal money pooling activities
As many as 28 entities have been banned for at least four years from the securities market for raising funds illegally from the public, according to Sebi orders. The cases pertain to two different companies - Roofers Infra-Projects Ltd and Rahul Inn Hospitality Ltd - mopping up more than Rs 74 crore by way of issuing secured redeemable non-convertible debentures in violation of regulations.
World economic growth improving: IMF
The current broad-based global economic upswing will likely be sustained this year and next, the International Monetary Fund said on Tuesday, with gains in most of the world offsetting sluggish outcomes in the United States, Britain and India, Reuters reported.
Indian banks' bad loans hit record $146 billion
Indian banks' sour loans hit a record USD 145.56 billion at the end of June, unpublished data shows, suggesting Asia's third-largest economy is no nearer to bringing its bad debt problems under control. Stressed loans as a percentage of total loans reached 12.6 percent at end-June, according to the RBI data, the highest level in at least 15 years, Reuters reported.
7 stocks under ban period on NSE
Security in ban period for the next trade date 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 today include names like BEML, DFHL, Indiabulls Real Estate, JP Associates, JSW Energy, Reliance Communications, and Reliance Capital.
Govt convinced public in favour of FDI in defence: FM
The government has succeeded in changing the public opinion in favour of FDI in sensitive areas like defence manufacturing, which were earlier considered sacrosanct, finance minister Arun Jaitley said, as reported by PTI.
PE/VC investments at record high in July-Sep
Private equity/venture capital investments touched a record high of USD 8.7 billion in the September quarter, a sharp increase over last year, largely driven by big-ticket transactions, says an EY report. According to EY's quarterly PE tracker for July-September 2017, PE/VC investments stood at a record high of USD 8.7 billion, as against USD 3.1 billion in the same period last year, PTI reported.
Bandhan Bank to decide on IPO size later: CEO
Private lender Bandhan Bank would decide on the size of the proposed IPO which it was required to make to meet the regulatory norms. The bank had appointed Goldman Sachs, JP Morgan Chase and three others as investment bankers for the IPO, PTI reported.
MAS Financial IPO oversubscribed 128 times
MAS Financial Services' initial share sale offer has received strong response from investors as it has been oversubscribed 127.88 times on the final day of subscription Tuesday. The Rs 460-crore IPO has received bids for 91.11 crore equity shares against the total issue size of 71.24 lakh shares, as per data available on the exchange.
Sept gold imports jump 31% on festive demand: GFMS
India’s gold imports in September rose 31 percent from a year ago as jewellers increased their purchases ahead of a festival at the end of the month, provisional data from GFMS showed, Reuters reported.
Sebi moves Supreme Court against Sahara
Sebi moved the Supreme Court on Tuesday in a contempt plea against the Sahara Group alleging obstruction in the Aamby Valley auction process. The markets regulator moved the apex court in August 2014 to recover Rs36,000 crore from Sahara to refund investors who had purchased securities from two group firms, Livemint reported.
Indian Energy Exchange IPO subscribed 43% on Day 2
The initial public offer (IPO) of Indian Energy Exchange was subscribed 43 percent on the second day of subscription on Tuesday. The IPO, to raise Rs 1,001 crore, received bids for 18,41,130 shares against 42,45,508 shares on offer, as per BSE data, PTI reported.
Reliance Nippon Life IPO gets Sebi go-ahead
Reliance Nippon Life Asset Management Limited has received the go-ahead from Sebi for its estimated Rs 2,000 crore initial public offer. The Anil Ambani-led Reliance Group firm's IPO would be the first by an asset management company (AMC) in India. The IPO size would be around 10 percent of the post issue paid-up capital of the company. Jointly owned by Japan's Nippon Life and Reliance Capital, PTI reported.
PM economic advisory panel to hold first meet on Wednesday
The newly constituted Economic Advisory Council to the Prime Minister (EAC-PM) will hold its first meeting on Tuesday. The Council held a brainstorming session with stakeholders on Monday in the run-up to its first meeting on Wednesday, an official statement said. The Council will address all issues of emergent importance, will engage with a broad spectrum of stakeholders and formulate advice accordingly, PTI reported.
GST, cash ban disruptions may delay corporate capex plans
Disruptions arising from demonetisation and GST have further delayed the capex or capital expenditure by companies till FY20, according to a report by India Ratings and Research. Over FY18-FY20, growth capex would be muted and overall corporate sector investment would grow by Rs 1 lakh crore (5-8 percent CAGR), primarily in the form of maintenance capex, according to the rating agency.
2 NSE officials refute Sebi’s charges in unfair access case
Two of the 14 officials of the National Stock Exchange of India (NSE) who received a show cause notice from the capital markets regulator for their alleged involvement in providing unfair access to some brokers have refuted the charges, Livemint reported.
Sebi to freeze promoter holdings if a firm violates MPS
The markets regulator will impose fines and freeze (restrict promoters’ rights in decision making of the company) promoter shareholding if a company violates the minimum public shareholding (MPS) norms, Livemint reported.
India wants foreign investors for energy projects
India wants to attract foreign investors to USD 300 billion worth of energy projects planned for the next decade, oil minister Dharmendra Pradhan said. India ships in about 80 percent of its oil needs, which Prime Minister Narendra Modi wants to reduce to 67 percent by 2020, Reuters reported.
Rupee firms up by 8 paise against dollar
Extending its recovery for the second straight session, the rupee today strengthened by another 8 paise to 65.28 a dollar amid persistent selling of the greenback by banks and exporters, PTI reported.
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