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

Moneycontrol News

The Nifty closed 26 points lower at 9888.70 on Thursday. According to Pivot charts, the key support level is placed at 9,865, followed by 9,841. If the index starts to move higher, key resistance levels to watch out are 9,929 and 9969.

The Nifty Bank closed 55 points lower at 24,058. Important Pivot level, which will act as crucial support for the index, is placed at 23,998, followed by 23,938. On the upside, key resistance levels are 24,153, followed by 24,248.

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, S&P hits record highs

The S&P 500 posted its sixth straight record high close on Thursday, its longest run since 1997, as investors cheered increased prospects for a tax overhaul with Congress moving closer to agreement on a budget resolution.

The Dow Jones Industrial Average rose 113.75 points, or 0.5 percent, to close at 22,775.39, while the S&P 500 gained 14.33 points, or 0.56 percent, to 2,552.07. The Nasdaq Composite added 50.73 points, or 0.78 percent, to 6,585.36, Reuters reported.

Asia stocks up after tax reform optimism lifts Wall Street

Asian stocks rose on Friday after optimism over US tax reform plans lifted Wall Street shares to new highs. Japan's Nikkei climbed 0.3 percent, Australian stocks rose 0.7 percent and South Korea's KOSPI advanced 0.9 percent, Reuters reported.

SGX Nifty

The Nifty50 futures on the Singapore Stock Exchange were trading 17.50 points higher at 9938 indicating a flat opening for the domestic market.

SEBI committee submits report, suggests split in Chairman, MD roles

Uday Kotak-led SEBI committee on corporate governance has submitted its report on Thursday. The committee has recommended splitting of roles of Chairman and MD-CEO for listed companies. It has also suggested that independent directors should make up at least half of every company’s board and should attend at least half of board meets.

The panel also suggested a minimum remuneration of Rs 5 lakh for independent directors per annum and a sitting fee of Rs 20,000-50,000 for each board meet.

Booster shot for economy: GST rates to be cut on 60 goods and services

About 60 goods and services are likely to get cheaper, with Finance Minister Arun Jaitley expected to push for big tax rate cuts in the GST Council meeting on Friday as part of a broader strategy to help the economy claw out of a three-year growth slump. The GST rates on several goods and services may be cut from 18 to 12 percent.

Donald Trump ready for any steps if Pakistan doesn't mend its ways: Mattis

President Donald Trump would try to work with Pakistan "one more time" but is prepared to take "whatever steps necessary" if Islamabad does not "change its behaviour" and continued to support terror groups, Defence Secretary Jim Mattis has warned, The Economic Times reported.

IPO activity in India headed for record year in 2017: EY

The initial public offering (IPO) activity in India is headed for a record year, thanks to re-emergence of larger listings that could help the country far exceed the initial expected target of USD 5 billion in proceeds this year, says an EY report, PTI reported.

SEBI asks Cell Realcon, IMAX Projects to refund investors' money

SEBI has directed two firms — Cell Realcon Corporation and IMAX Projects India — and their directors to refund investors' money that they raised by issuing securities without complying with public issue norms. Besides, the watchdog has barred them from capital markets for four years from the date of completion of refunds, SEBI said in separate orders, PTI reported.

SBI puts 24 NPA accounts up for sale to ARCs, NBFCs and other banks

State Bank of India has puts several non-performing accounts, including those from RBI's second defaulter list, up for sale to other banks, asset reconstruction companies and NBFCs. It has put 24 accounts for sale for loans outstanding from Rs 900 crore to as low as Rs 60-70 crore having a total outstanding loan of Rs 3,554.24 crore, CNBC-TV18 reported.

Dhanteras: NSE extends trade in gold ETFs, sovereign gold bond

After BSE, National Stock Exchange (NSE) has announced to extend the trading session for gold exchange traded funds (ETF) and Sovereign Gold Bond on October 17 till 1900 hours on the occasion of Dhanteras, a festival celebrated two days before Diwali, PTI reported.

Submit net worth info in e-format by October 31: BSE to brokers

BSE on Thursday asked brokers to submit net worth certificate, auditor's report and annual report for the past fiscal in electronic format by October 31. "Submissions of net worth certificate, computation of net worth, auditor's report and audited annual accounts (for the financial year ended March 31, 2017) are required to be made online in electronic format by October 31," the BSE said in a circular, as reported by PTI.

Godrej Agrovet IPO subscribed 2.37 times on second day

The initial public offering (IPO) of Godrej Agrovet Ltd was subscribed 2.37 times on Thursday, the second day of the share sale, data from stock exchanges shows. Godrej Agrovet has priced its shares in a band of Rs450-460 per share. The IPO will close on 6 October, Livemint reported.

MAS Financial Services IPO to open on October 6

MAS Financial Services' initial share sale offer is set to open for subscription on October 6, with a price band of Rs 456-459 per share. It has alloted 2,961,057 equity shares at Rs. 459 per share (including share premium of Rs. 449 per share) aggregating to Rs. 135.91  crore (approximately) to 15 Anchor Investors.

India's economic slowdown an aberration: World Bank

The recent slowdown in India's economic growth is an "aberration" mainly due to the temporary disruptions in preparation for the GST, the World Bank said on Thursday, pointing out that it will get corrected in the coming months. World Bank President Jim Yong Kim also said that the Goods and Services Tax (GST) is going to have a hugely positive impact on the Indian economy, PTI reported.

RBI must allow external benchmarking for deposits too: Banks

The Reserve Bank of India must allow deposit rates to be linked to an external benchmark if it wants to apply such a benchmark for loan rates so as to prevent asset-liability mismatches, said bankers.

A committee set up by central bank has recommended linking bank lending rates to a market benchmark in a bid to hasten monetary policy transmission as well improve transparency in rate setting by lenders, Livemint reported.

US Fed buys $7 billion of mortgage bonds

The Federal Reserve bought USD 7.029 billion of agency mortgage-backed securities in the week from September 28 to October 4, compared with USD 6.937 billion purchased the previous week, the New York Federal Reserve Bank said on Thursday, Reuters reported.

General Insurance Corporation aims to raise Rs 11k cr

General Insurance Corporation of India (GIC Re) is planning to raise around Rs 11,372 crore from its initial public offering (IPO). The company has set a price band of Rs 855- 912 per share for its IPO and when calculated at the upper band of the issue price the company will be valued at around Rs 80,000 crore, Reuters reported.

EPFO may give option to raise equity exposure

EPFO is mulling to give its subscribers an option to set aside a higher proportion of their provident fund money for this asset class. The proposal, if it goes through, will fetch higher returns to 4.5 crore EPFO subscribers in the current declining interest rate regime, The Economic Times reported.

Oil rises 2% boosted by potential OPEC deal

Oil prices rose about 2 percent on Thursday as signs Saudi Arabia and Russia would limit production through next year pushed the US benchmark back above USD 50 a barrel. Brent futures settled at USD 57 a barrel, up 2.2 percent, or USD 1.20, Reuters reported.

Rupee down 13 paise at 65.14 on dollar buoyancy

The rupee once again turned shaky and ended lower by 13 paise at 65.14 on fresh bouts of dollar demand from importers. The rupee came under pressure due to extremely bullish dollar sentiment overseas backed by robust US service sector growth data that hit its fastest pace in 12 years in September, coupled with impending Fed rate hike chances, PTI reported.