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The Nifty opened at 10,364.90 and rose to an intraday high of 10,367.70. The bears finally took control of D-Street and pushed the index lower towards 10,300. It hit an intraday low of 10,323.95. The index negated the formation of higher highs – higher lows formation of the last five trading sessions and closed the day with loss of around 29 points.
The Nifty closed at 10,335.3 on Tuesday. According to Pivot charts, the key support level is placed at 10,316.97, followed by 10,298.63. If the index starts to move higher, key resistance levels to watch out are 10,360.67 and 10,386.03.
The Nifty Bank closed at 25,019.3 on Tuesday. Important Pivot level, which will act as a crucial support level for the index, is placed at 24,952.03, followed by 24,884.77. On the upside, key resistance levels are 25,082.63 and 25,145.96.
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 on positive note
Wall Street ended October on a positive note with the three major indexes showing their best monthly gains since February. The Dow Jones Industrial Average rose 28.5 points, or 0.12 percent, to 23,377.24, the S&P 500 gained 2.43 points, or 0.09 percent, to 2,575.26 and the Nasdaq Composite added 28.71 points, or 0.43 percent, to 6,727.67, Reuters reported.
Asian markets trade higher on economic optimism
Asian shares looked set to extend their gains into a fourth straight day on Wednesday on the back of solid economic growth. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3 percent in early trade while Japan's Nikkei gained 1 percent, Reuters reported.
SGX Nifty
The Nifty50 futures on the Singapore Stock Exchange were trading 37 points higher at 10416 indicating a positive opening for the domestic market.
8 killed in Manhattan attack, US calls it an act of terrorism
At least eight people were killed and 11 other injured in Lower Manhattan today after a gunman in a truck plowed through a busy bike path, an incident the US termed as an "act of terrorism". The suspect, a 29-year-old man, was shot in the stomach before being arrested, PTI reported.
World Bank ranking result of all-round reform push: PM Modi
Prime Minister Narendra Modi on Tuesday hailed as "historic" the jump in India's ranking in 'ease of doing business' and said it was a result of "all-round & multi-sectoral reform push". He said the government is determined to further improve the rankings and scale greater economic growth with the mantra of 'reform, perform and transform'.
Nisha Desai Biswal, the new head of the US-India Business Council (USIBC) said that this is a significant movement and a very important barometer of India moving the right direction and in creating the kind of channels that will attract foreign direct investment, PTI reported.
New India Assurance IPO to open on Nov 1
New India Assurance Company's Rs 9,600-crore initial public offer is set to open for subscription on Wednesday, with a price band of Rs 770-800 per share.
The 12-crore equity shares' initial public offer consists of fresh issue of up to 2.4 crore shares and offer for sale of up to 9.6 crore shares by the government. The offer also includes a reservation of up to 36 lakh equity shares for subscription by eligible employees.
Fiscal deficit touches 91.3% of FY18 target in 6 months
India's fiscal deficit at the end of the first half of the current fiscal touched 91.3 percent of the budget estimate, mainly due to rise in expenditure. For 2017-18, the government aims to bring down the fiscal deficit to 3.2 percent of the GDP. Last fiscal, it had met the 3.5 percent target, PTI reported.
Core sector growth hits 6-month high of 5.2% in Sept
Eight core sectors grew to a six-month high of 5.2 percent in September, helped by a robust performance in coal, natural gas and refinery segments, official data showed on Monday. The eight infrastructure sectors — coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity — had witnessed a growth of 5.3 percent in September last year, PTI reported.
Infra output grows 5.2% in Sept
India's annual infrastructure output in September grew 5.2 percent from a year ago, driven by higher production of coal and refinery products, government data showed on Tuesday. T
he growth in output compares with a downwardly revised 4.4 percent year-on-year growth in August. During April-September, the annual output growth was 3.3 percent, data showed, Reuters reported.
Sebi bans Eminence Infra, directors from capital markets
Sebi has barred Kolkata-based Eminence Infraprojects and its five directors from the capital markets for at least four years and asked them to refund the money raised from investors without complying with the public issue norms, PTI reported.
HDFC Standard Life promoters to dilute 14.92% stake
The promoters of private life insurer HDFC Standard Life Insurance would dilute up to 14.92 percent of their stake holdings through the IPO, which would open from November 7 and continue till November 9. The IPO would also help the company in fixing the share-swap ratio in the event of possible M&A activity, PTI reported.
CME to launch futures contract for bitcoin
CME Group Inc said on Tuesday that it will launch a futures contract for bitcoin later this year, marking a major step in the digital currency’s path towards legitimacy and helping propel it to a fresh record high, Reuters reported.
F&O Cues: Maximum Put OI at 10,000, Call OI at 10400
On the options front, maximum Put OI was seen at 10,000 followed by 10,200 strikes while maximum Call OI was seen at 10400 followed by 10500 strikes. Marginal Call and Put writing was seen at most of the “out of the money” Put and Calls.
India VIX moved by 2.73 percent at 12.44 and rise in volatility from last two sessions has given a pause in positive momentum.
Euro zone economy grows faster in Q3
The euro zone economy grew faster than expected last quarter and unemployment fell to its lowest in almost nine years, backing up the European Central Bank’s move to begin reducing its bond buying despite slightly soft inflation this month, Reuters reported.
Fed's Powell likely to get Trump nod to lead Central Bank
President Donald Trump is likely to pick Federal Reserve Governor Jerome Powell as the next head of the US Central Bank, prompting investors to push down yields on Treasury notes, Reuters reported.
Mahindra Logistics IPO subscribed 48% on Day 1
The initial public offer of Mahindra Logistics was subscribed 48 percent on the first day of the three-day bidding on Tuesday. The IPO, which aims to raise Rs 829.35 crore, received bids for 65,75,362 shares against the total issue size of 1,35,70,143 shares, data available with the NSE showed.
GST network glitches courtesy Infosys: Govt
Infosys finds its management of the GST information technology backbone under scrutiny at the highest levels of the government. It had won the Rs 1,380-crore deal for developing and running GST’s backend in 2015.
Three top government functionaries expressed strong disappointment with the company over frequent glitches that have beset the Goods and Services Tax Network (GSTN), leading to extension of deadlines for returns several times, Economic Times reported.
46 companies to report Sept quarter results
As many as 46 companies are scheduled to report results for qquarter ended September on Wednesday including the likes of Tech Mahindra, Hero MotoCorp, TVS Motor, Apollo Tyres, Hexaware, Godrej Consumer, Andhra Bank, Greaves Cotton, Grindwell Norton, JSW Energy, Kirloskar Industries, Mahindra Holidays, etc among others.
List of items in 28% tax slab to be trimmed
GST Council is looking to trim the list of items in 28 percent tax slab by shifting some items of common use as well as products made by SMEs to a lower tax slabCME to launch bitcoin futures in push for currency's wide adoption, Livemint reported.
Dollar registers best month of 2017
The dollar edged higher on Tuesday, underpinned by solid US data, and headed toward its strongest monthly performance since November 2016, Reuters reported.
Oil up near 2-year highs, Brent edges up
Oil prices settled higher again on Tuesday, notching a monthly gain of more than 5 percent. Brent settled up 47 cents or 0.7 percent to USD 61.37, close to its July 2015 highs reached earlier this week, and up around 37 percent from its 2017 lows hit in June, Reuters reported.
Gold falls ahead of Fed chair decision
Gold prices fell on Tuesday as the US dollar was firm for much of the session and precious metals investors turned cautious ahead of central bank meetings this week, US payrolls data and the announcement of the next US Federal Reserve chair, Reuters reported.
Rupee jumps to 2-week high
Consolidating strong recovery for the second-straight day, the rupee moved higher by 10 paise to end at a fresh two-week high of 64.75 against the dollar due to sustained selling of the US currency by exporters, PTI reported.
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