What changed for the market while you were sleeping? Here are 20 things to know

Moneycontrol News

The Nifty after opening on a muted not hit an intraday low of 10,124.50 on Monday but managed to climb back above 10,150 by afternoon trade. It hit an intraday high of 10,224.15 but failed to sustain above 10,200.

The Nifty closed up 38.40 points at 10,184.90 on Monday. According to Pivot charts, the key support level is placed at 10,131.47, followed by 10,078.13. If the index starts to move higher, key resistance levels to watch out are 10,231.17 and 10,277.53.

The Nifty Bank closed at 24,088.90 on Monday, up 79.15 points. Important Pivot level, which will act as a crucial support level for the index, is placed at 23,950.67, followed by 23,812.43. On the upside, key resistance levels are 24,189.07, followed by 24,289.23.

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

US stocks closed lower on Monday after starting the day at record highs, weighed down by the tech and industrial sectors. The Dow Jones Industrial Average fell 54.67 points, or 0.23 percent, to end at 23,273.96, the S&P 500 lost 10.23 points, or 0.40 percent, to 2,564.98 and the Nasdaq Composite dropped 42.23 points, or 0.64 percent, to 6,586.83, Reuters reported.

Asian shares hover near recent highs

Asian shares held within striking distance of recent decade highs on Tuesday even as Wall Street fell from record levels. MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.1 percent firmer at 549.71 points. Australian shares also edged higher and back toward a 5-1/2 month peak touched on Monday, while Japan's Nikkei fell 0.2 percent from a 21-year high, Reuters reported.

SGX Nifty

The Nifty futures on the Singaporean stock exchange were trading lower by around 14 points at 10186, a fall of around 0.14 percent. While this does not lead to a sure-shot similar move in India, but it does reveal the overall sentiment that the Street is likely to witness.

North Korea threat is 'critical, imminent,'

The threat from North Korea has grown to a “critical and imminent level” and the United States, Japan and South Korea must address the matter, Japanese Defense Minister Itsunori Onodera told his US and South Korean counterparts in talks on Monday. South Korea's has also acknowledged that North Korea's provocative behaviour is becoming worse and worse, Reuters reported.

Infosys, HDFC Bank to announce Q2 earnings on Tuesday

Infosys will announce its July-September quarter earnings on Tuesday after market hours. Analysts expect revenue to increase 3.2 percent sequentially to Rs 17,630 crore while dollar revenue to grow 3.3 percent to USD 2,738 million in the Q2.

Another Nifty50 name which will be in focus will be HDFC Bank wherein the net interest income during the quarter is seen rising 20.9 percent to Rs 9,664.1 crore, compared with Rs 7,993.6 crore in corresponding quarter last fiscal.

Reliance Nippon Life IPO to open on Oct 25

Reliance Nippon Life Asset Management has fixed the price band at Rs 247-252 per share for its upcoming initial public offering that is scheduled to open for subscription on October 25. The company is expected to raise Rs 1,511.64-1,542.24 crore through the issue that will close on October 27.

Foreign investors may soon be allowed to trade in domestic commodities market

SEBI is planning to allow foreign portfolio investors to trade in commodities, sources told Moneycontrol. The proposal, aimed at deepening the commodities market, has been forwarded to the Finance Ministry, sources said.

Mahindra Logistics sets IPO price band at Rs 425-429 per share

Mahindra Logistics, the subsidiary of Mahindra and Mahindra, has fixed the price band at Rs 425-429 per share for its initial public offering that is scheduled to open on October 31. The discount of Rs 42 per share will be offered to its eligible employees, the company said in its filing.

‘Govt plan may bring non-essential drugs under price control’

The government’s push for a change in the method of price calculation methodology for new drugs can lead to non-essential drugs coming under price control, a senior pharma industry body executive said. Chemicals and Fertilisers ministry in a statement issued last week had said that the Department of Pharmaceuticals (DoP) is considering a change in the method of approving prices of new drugs, PTI reported.

331 infra projects see cost overrun of Rs 1.72 lakh crore

As many as 331 infrastructure projects, each worth Rs 150 crore or above, have seen a cost overrun of Rs 1.72 lakh crore because of various reasons including delays, according to a government report, PTI reported.

Popular retirement program will be unscathed in tax plan: Trump

President Donald Trump on Monday dismissed the possibility of curbing a popular tax-deferred US retirement savings program to help pay for his sweeping tax cuts, and voiced doubts about adding another top bracket targeting the wealthiest Americans, Reuters reported.

Bankruptcy proceedings filed against SEL Manufacturing

SEL Manufacturing Co. Ltd, a textiles maker, has become the first company in the second list of corporate defaulters identified by the Reserve Bank of India against which bankruptcy proceedings have been filed. At the end of March 2017, SEL Manufacturing had a debt of Rs4,275 crore, Livemint reported.

Will decide on Federal Reserve chair 'very shortly': US President

US President Donald Trump said he would make his choice to lead the Federal Reserve soon and was still weighing at least three people: Federal Reserve Governor Jerome Powell, Stanford University economist John Taylor and current Federal Reserve Chair Janet Yellen, Reuters reported.

Maharashtra govt asks banks to use own funds for loan waiver

The Maharashtra government, which is implementing an ambitious Rs 34,000 crore farm loan waiver scheme, has asked the banks to use their own funds to settle farmers' loans, and promised them a reimbursement later. The cooperation department, in a letter on October 13, asked the banks to use their own capital for settling the loans of eligible farmers and close their loan accounts, PTI reported.

Govt plans to invest Rs 1.45 lakh crore in North-East road infra

To upgrade infrastructure in the North-East, the government is planning to undertake highway projects worth about Rs 1.45 lakh crore in next two to three years, Union Minister Nitin Gadkari said. Of the proposed Rs 1.45 lakh crore investment, the government plans to invest about Rs 48,000 crore in Assam, Rs 22,000 crore in Manipur and Rs 20,000 crore in Nagaland for building roads, PTI reported.

28 companies likely to report earnings on Tuesday

As many as 28 companies are likely to report Q2 numbers on Tuesday including ABB India, Ambuja Cements, Asian Paints, Can Fin Homes, Chambal Fertilisers, GHCL, HDFC Bank, ICICI Prudential Life Insurance Company, Infosys, L&T Finance Holdings, Mahindra CIE Automotive, Rallis India, Raymond, TTK Prestige, Visa Steel, etc. among others.

Bharat-22 ETF likely to be launched in Nov

An inter-ministerial panel headed by finance minister Arun Jaitley on Monday finalised the launch date and quantum of issuance of Bharat-22 ETF. Bharat-22 comprises of 22 scrips of public sector units (PSUs), banks and those entities in which the government holds a minority stake, PTI reported.

DII holdings in BSE companies at their highest in 25 qtrs

The holdings of domestic mutual funds and insurance companies in India’s largest listed companies rose to their highest level in at least 25 quarters as household savings shifted from gold and real estate to financial assets. At the end of September, domestic institutions held a 10.8 percent stake in the BSE 500 index, which accounts for at least 90 percent of India’s market capitalization, Livemint reported.

NSE bans 8 companies from trade

The derivative contracts of BEML, DHFL, HDIL, Indiabulls Real Estate, Infibeam, Jaiprakash Associates, JSW Energy and Reliance Capital have crossed 95 percent of the market-wide position limit and are currently in the ban period.

Rupee closes up 2 paise at 65.02 per dollar

Snapping its two-session losing trend, the rupee on Monday ended marginally higher by 2 paise at 65.02 a dollar on fresh selling of the American currency by banks and exporters coupled with firm local equities, PTI reported.

Oil prices inch up