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

Moneycontrol News

The Nifty index which opened at 10,440.50 rose marginally to 10,453 but then bears took control of D-Street and pulled the index towards its intraday low of 10,412.55. The index closed 16 points lower at 10,423.80.

According to Pivot charts, the key support level is placed at 10,406.53, followed by 10,389.27. If the index starts to move higher, key resistance levels to watch out are 10,447.03 and 10,470.27.

The Nifty Bank closed at 25,427.3 on Thursday. Important Pivot level, which will act as a crucial support level for the index, is placed at 25,355.6, followed by 25,283.9. On the upside, key resistance levels are 25,548.9 and 25,670.5.

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 mixed; Dow climbs to record

Wall Street’s Dow industrials climbed to a record high on Thursday while losses in Facebook kept the S&P 500 and the Nasdaq in check.

The Dow Jones Industrial Average rose 81.25 points, or 0.35 percent, to 23,516.26, the S&P 500 gained 0.49 points, or 0.02 percent, to 2,579.85 and the Nasdaq Composite dropped 1.59 points, or 0.02 percent, to 6,714.94, Reuters reported.

Asian markets trade higher after Powell pick

Asian share markets edged higher on Friday as investors gave a guarded reception to Republican plans for massive US tax cuts. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.14 percent, to near its highest since late 2007. Australia's main index firmed 0.5 percent, while South Korea added 0.3 percent, Reuters reported.

SGX Nifty

The Nifty50 futures on the Singapore Stock Exchange were trading 10.5 points higher at 10465 indicating a flat to positive opening for the domestic market.

Trump picks Jerome Powell as US Fed Chairman

President Donald Trump on Thursday tapped Fed Governor Jerome Powell to become head of the US central bank. Powell, a lawyer and investment banker appointed to the Fed board in 2012 by then-President Barack Obama, emerged as Trump’s choice from a slate of possible nominees that included Yellen and others, Reuters reported.

Govt recommends shutting down crypto currency dealers

A government panel has recommended shutting down cryptocurrency dealers in India in a move to restrict the use of virtual currencies in the country, reports The Economic Times.

According to the report, the decision came after the digital currency Bitcoin hit record highs when CME Group, operator of the world’s largest futures and options exchange, announced the launch of Bitcoin futures by the year-end.

Industry clipping at 20-25% CAGR till 2020: Amfi chief

Veteran banker and bond market specialist NS Venkatesh, who took over as the Amfi chief late last month, expects the industry to continue to grow at a compounded annual rate of 20-25 percent over the next three years given the deepening financialisation of the economy, PTI reported.

Mahindra Logistics oversubscribed nearly 8 times

Mahindra Logistics Ltd's initial public offering of shares to raise USD 128.5 million was oversubscribed nearly eight times on the last day of the sale on Thursday, stock exchange data showed. Investors bid for 106.4 million shares, or 7.84 times the 13.57 million on offer, according to stock exchange data, Reuters reported.

New India IPO subscribed 1.07 times on Day 2

The initial public offer (IPO) of New India Assurance Company was subscribed 1.07 times on the second day of bidding on Thursday. The IPO, which aims to raise Rs 9,600 crore, received bids for 12,87,66,114 shares against the total issue size of 12,00,00,000 shares, data available with the NSE showed, PTI reported.

Nitin Gadkari plans Rs 5 lakh crore bond sale for infra projects

Union minister Nitin Gadkari on Thursday said nearly Rs 5 lakh crore can be raised from capital markets, most of which could in fact come from small investors.

"We will be rolling out nearly Rs 7 trillion worth of projects which were recently announced before December 2018. This is the biggest infra programme and include the Bharatmala programme," Gadkari said, as reported by PTI.

40 companies will declare Sept results

As many as 40 companies will declare their Q2 results including Hindalco, Edelweiss Financial Services, EPC Industries, Godrej Properties, PFC, PNB, Tata Power, Titan Company, Torrent Pharma, Trident, UCO Bank, Union Bank of India, VRL Logistics etc. among others.

Parliament's winter session likely to be cut short

The winter session of Parliament is likely to be cut short as most MPs would be busy campaigning for the Gujarat assembly polls to be held in two phases in December.

The Gujarat elections will be held on 9 and 14 December and the counting of votes will take place on 18 December, together with Himachal Pradesh, PTI reported.

Sebi bans 10 entities for fraudulent trade with fake SMSes

Clamping down on fraudulent activities, Sebi has barred 10 entities for sending out fake SMSes in bulk with "questionable recommendations" to pump up trading volumes in the shares of Supreme Tex Mart Ltd, PTI reported.

PNB Q2 profit seen down 33%

Punjab National Bank's profit is likely to decline 33.3 percent year-on-year to Rs 366 crore for quarter ended September 2017. Net interest income grew by 0.9 percent to Rs 3,913.2 crore compared with Rs 3,880 crore in same quarter last fiscal, according to average of estimates of analysts polled by CNBC-TV18.

Hindalco Q2 profit seen 9% higher at Rs 477 cr

Hindalco Industries is likely to report a 9 percent increase in its September quarter profit at Rs 477 crore, a poll of analysts by CNBC-TV18 said. The net sales are likely to be higher by 9 perent at Rs 10,409 crore against Rs 9,562 crore.

F&O cues: Maximum Put OI at 10,000, Call OI at 10,500

On the options front, maximum Put OI was seen at strike prices 10,000 while maximum Call OI was seen at 10500. India VIX closed at 12.005 down by 1.09 percent. Nifty 10200 Put adds 3.5 lakh shares in OI and Nifty 10600 Call adds 2.7 lakh shares in OI. Option Data indicating a move towards 10600 - 10650.

Khadim India IPO subscribed 14% on Day 1

Khadim India's initial public offer was subscribed 14 percent on the first day of bidding on Thursday. The IPO, which aims to raise Rs 543 crore, received bids for 7,16,960 shares against the total issue size of 50,73,006 shares, NSE data showed, PTI reported.

PFC may post 5% fall in Q2 profit

PFC’s second quarter profit is seen falling 5.3 percent year-on-year to Rs 1,774 crore, against Rs 1,873 crore in year-ago quarter. Net interest income during the quarter may increase 1.7 percent to Rs 2,915.1 crore, compared with Rs 2,867 crore in same period last fiscal, according to average of estimates of analysts polled by CNBC-TV18.

Rupee ends 2 paise lower at 64.61

The rupee on Thursday washed out initial gains and ended marginally lower by 2 paise at 64.61 against the American currency in a quiet session after a hectic three-day run, PTI reported.

Oil edges up to near 2-year highs

Oil prices edged up on Thursday, steadying near two-year highs as the outlook remained upbeat as OPEC-led supply cuts have tightened the market and drained inventories.

Brent crude settled up 13 cents, or 0.2 percent, at USD 60.62 per barrel. The benchmark hit USD 61.70 on Wednesday, its highest intraday level since July 2015, Reuters reported.

Gold hits one-week high

Gold rose to a one-week high on Thursday amid a weaker dollar, on increased demand from Chinese retail investors. Spot gold was up 0.3 percent at USD 1,278.10 per ounce after earlier rising to USD 1,281.43, the highest since October 26. US gold futures edged up 0.1 percent to USD 1,278.80 per ounce, Reuters reported.