A look at top cues from domestic and international cues that could have a bearing on D-Street.
Equity benchmarks managed to extend uptrend for the eighth consecutive session Monday, with the Nifty reclaiming 10,400 level. The Sensex rose 45.20 points to 33,724.44 and the 50-share NSE Nifty gained 9.80 points at 10,399.50.
India VIX fell down by 3.55 percent at 13.03. VIX has to cool down below 13-12.50 zones to get the market stability and next round of rally towards new high territory.
On the options front, maximum Put OI was seen at strike prices 10,300 followed by 10,200 strikes while maximum Call OI was seen at strike prices 10,500 followed by 10,400 and 10,600 strikes.
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 flat as energy slumps, Amazon shines
Wall Street’s major indexes ended little changed on Monday, retreating modestly from record highs set during the session, as gains for Amazon countered losses in shares of energy companies.
The Dow Jones Industrial Average rose 22.79 points, or 0.1 percent, to 23,580.78, the S&P 500 lost 1 points, or 0.04 percent, to 2,601.42 and the Nasdaq Composite dropped 10.64 points, or 0.15 percent, to 6,878.52, Reuters reported.
Asian markets off decade high; Nikkei slips
Asian shares stepped back from decade highs on Tuesday on worries about another sharp sell-off in Chinese stock markets. MSCI’s broadest index of Asia-Pacific shares outside Japan eased from a decade peak. Australian shares rose 0.2 percent while Japan's Nikkei slipped 0.3 percent, Reuters reported.
SGX Nifty
The Nifty50 futures on the Singapore Stock Exchange were trading 30 points lower at 10387 indicating a negative opening for the domestic market.
MCA identifies 18 more shell cos
The Ministry of Corporate Affairs (MCA) has prepared the second list of 18 companies which deposited unusually large sums of cash in their bank accounts soon after demonetisation. Collectively, these companies had deposited around Rs 10,000 crore between them.
Overweight on India; see Nifty at 11,600 by 2018 end: Goldman Sachs
Goldman Sachs said on Monday it stays overweight on Indian equities, and expects Nifty to rise to 11,600 points by the end of 2018 on robust corporate earnings growth.
It projects real GDP growth of 8 percent in FY19, compared with an expected 6.4 percent in FY18, as the negative impact of disruptive events such as the introduction of the goods and services tax (GST) eases and the bank recapitalisation programme leads to credit and private investment growth., Livemint reported.
Prabhu asks industry to set a timeline for $ 1 tn manufacturing revenue
Commerce & Industry Minister Suresh Prabhu has asked the industry to set a timeline for achieving a USD 1 trillion in manufacturing revenue and take its share in GDP to 20 percent. The share of manufacturing in GDP has been trending at 16-17 percent for some years now and the previous Manmohan Singh government had set a target of taking this share to 25 percent of GDP by the turn of 2025.
BSE to merge 2 sub-groups for classifying stocks from Dec
BSE will merge two sub groups -- XC and XD-- into a new segment X from next month in order to streamline classification of securities listed on its platform.
Currently, companies with a six-month average market capitalisation of Rs 1,000 crore and more than 5,000 public shareholders are excluded from the sub-segments - XC and XD.
Oct GST revenue collection lowest since implementation
Revenue from Goods and Services Tax (GST) for October stood at Rs 83.34 crore, the lowest collection since the indirect tax system was implemented on July 1.
Government data shows that it had garnered revenue worth Rs 92.25 crore for September (as of October 24), Rs 90.67 crore for August (as of September 27) and Rs 92.28 crore in July (as of August 29).
Bitcoin rockets to new record high
Bitcoin's vertiginous ascent showed no signs of abating on Monday, with the cryptocurrency soaring to another record high just a few percent away from USD 10,000 after gaining more than a fifth in value over the past three days alone, Reuters reported.
NSE revises limit for risk reduction mode in currency futures
National Stock Exchange on Monday said it has decided to revise the threshold for activation of risk reduction mode for clearing members on its currency derivatives segment from Wednesday.
Bank recap to lift GDP growth to 8% next fiscal: Report
The economy is likely to clip at 8 percent next fiscal as the massive bank recapitalisation will help revive the long-stalled credit demand and private investments, says a brokerage report.
According to Goldman Sachs, the Rs 2.11-trillion bank recapitalisation announced by government last month and a likely recovery in earnings are also likely to drive up the stock markets and has set the Nifty target of 11,600 by next December.
I-T dept moves against hoarders
In a bid to curb hoarding of unsold inventories by real estate developers, the income-tax department is set to tax unsold flats that have been lying with developers for more than a year. According to a senior I-T official, the fresh tax would be applicable on such inventories from the next financial year, Business Standard reported.
Provisional ratings for debt rejig loans
The RBI has allowed lenders to rely on 'provisional ratings' — which will not be disclosed to the market — for rejigging loans to distressed companies before resorting to the insolvency mechanism.
Over the next one month, large banks will attempt to spot distressed companies whose loans can be restructured based on provisional ratings, Economic Times reported.
Rupee scales new 2-month high of 64.50
The rupee on Monday surged by a hefty 20 paise to end at a fresh two-month high of 64.50 against the beleaguered dollar even as S&P kept India's credit rating unchanged.
