A list of important headlines from across news agencies that could help in your trade today.
Bulls powered D-Street to yet another record high for the third straight day in a row on Tuesday. The index witnessed some profit booking but recouped initial losses to close near day’s high making a Doji pattern on the daily charts.
The Nifty, which opened at 10,645.10, rose to a record high of 10,659.15 but bears quickly took control and pushed the index towards 10,603 which made a long lower shadow on the daily charts.
The Nifty closed at 10,637.0 on Tuesday. According to Pivot charts, the key support level is placed at 10,607.33, followed by 10,577.67. If the index starts to move higher, key resistance levels to watch out are 10,662.93 and 10,688.87.
The Nifty Bank closed at 25,703.8. Important Pivot level, which will act as crucial support for the index, is placed at 25,612.73, followed by 25,521.66. On the upside, key resistance levels are 25,799.33, followed by 25,894.87.
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.
Wall Street climbs with boost from healthcare, banks
Wall Street’s major indexes extended the New Year rally to close at record levels on Tuesday on investor optimism ahead of quarterly earnings reports and hopes for easing tensions with North Korea.
The Dow Jones Industrial Average rose 102.8 points, or 0.41 percent, to 25,385.8, the S&P 500 gained 3.58 points, or 0.13 percent, to 2,751.29 and the Nasdaq Composite added 6.19 points, or 0.09 percent, to 7,163.58, Reuters reported.
Asia markets tread weak
Asian markets searched for direction early on Wednesday after yields on U.S. government debt rose and stocks stateside closed higher overnight. Japan's Nikkei 225 was flat in the morning as gains seen in automakers and financials were offset by losses seen in most major technology names. Kospi index edged higher by 0.1 percent despite weakness in tech heavyweights, CNBC reported.
SGX Nifty
Trends on SGX Nifty indicate a positive opening for the broader index in India. Nifty futures were trading around 10,644-level on the Singaporean Exchange.
North, South Korea agree to resolve issues through dialogue
North Korea and South Korea on Tuesday agreed on negotiations to resolve problems and military talks aimed at averting accidental conflict, after their first official dialogue in more than two years, as Pyongyang's nuclear weapons program fuels tension.
"North Korea's weapons are only aimed at the United States, not our brethren, China or Russia," said Ri Son Gwon, head of North Korea's delegation at the first inter-Korean talks in more than two years, CNBC reported.
Also Read: Trade Setup for Wednesday: Top 10 things you should know before Opening Bell
Telecom Commission favours raising spectrum holding limit
Telecom Commission has concurred with sectoral regulator Telecom Regulatory Authority of India (TRAI)'s suggestion to raise spectrum holding limit of mobile operators which will ease the exit route for operators under stress, an official source said on Tuesday.
Based on the IMG recommendation, the Telecom Commission has approved extension of time period for the payment of spectrum bought in auctions by operators to 16 years from the current 10 years, as recommended by the IMG.
Cryptocurrencies including Bitcoin, Ripple dive 4-8%
In a red letter day for cryptocurrency market, several major currencies including Bitcoin, Ripple, and Litecoin took a dive following South Korea's financial regulator said it and other agencies are inspecting six local banks that offer digital currency accounts to institutions.
MFs to soon trade in commodity derivatives: AMFI
Mutual funds will soon trade in the commodity derivatives, a move that will deepen this nascent market, a top official of industry body AMFI said. Sebi had said that it was in talks with the RBI to allow institutional investors like banks and FPIs to trade in the segment.
Wholesale debt market trades worth Rs 2,739.98 cr on NSE
Wholesale debt market segment of the National Stock Exchange today witnessed a total turnover of Rs 2,739.98 crore in 59 trades. The 8.60 percent government securities maturing in CG2028 traded value at Rs 350.00 crore at weighted yield of 7.54 percent, the 8.24 percent government securities maturing in CG2027 traded value at Rs 300.00 crore at weighted yield of 7.54 percent.
Apollo Micro Systems raises Rs 47 cr from anchor investors
Apollo Micro Systems on Tuesday raised nearly Rs 47 crore from anchor investors, ahead of its initial share-sale today. It has allotted 16,96,050 shares to four anchor investors at a price of Rs 275 per scrip, garnering Rs 46.64 crore, the company said.
Among the anchor, investors are Sundaram Mutual Fund A/C Sundaram Infrastructure Advantage Fund and Jupiter South Asia Investment Company Ltd - South Asia Access Fund.
Stakeholders seek timeline for approvals from regulators for resolution under IBC
Stakeholders in the insolvency and bankruptcy process are lobbying for a specific timeline within which authorities such as competition, tax and financial market regulators should give approvals for resolution plans of assets undergoing insolvency proceedings,Mint reported.
Newgen to launch Rs 400 cr IPO on Jan 16
Newgen Software Technologies Ltd on Tuesday said it will launch an initial public offering (IPO) on January 16, seeking to raise over Rs 400 crore. Venture capital investors selling their stakes include IDG Ventures, Ascent Capital and SAP Ventures.
The company has priced its shares in a price band of Rs240-245 per share. The offering closes on 18 January, Mint reported.
Global equities added $2 tn in market value this year
Global euities have already USD 2.1 trillion has been added to the market capitalization of global equities. The market is verging on such overbought levels that not even reliably bullish analysts can keep up with the new highs, Mint reported.
New industrial policy in few months: Suresh Prabhu
The new industrial policy which seeks to promote emerging sectors will be released within a few months, Commerce and Industry Minister Suresh Prabhu said on Tuesday. The proposed policy, the draft of which has been prepared by the ministry, will completely revamp the Industrial Policy of 1991.
Sebi mulls minimum market cap of Rs10 cr for companies to stay listed
Sebi plans to impose a limit on the minimum market capitalization for companies to remain listed in an effort to weed out so-called penny stocks.
Sebi has found that out of around 5,000 odd firms listed on exchanges, at least 1,000 appear to be penny stocks with only a few investors and infrequent trading, one of the two people cited earlier said on condition of anonymity, Mint reeported.
Oil hits highest since May 2015 above $68
Oil prices edged higher on Tuesday, with U.S. crude touching its highest since December 2014, supported by OPEC-led production cuts and expectations that US crude inventories have dropped for an eighth week in a row.
Brent crude ended the session up USD 1.04, or 1.5 percent, at USD 68.82 per barrel after hitting a session high of USD 69.08, its highest since May 2015, Reuters reported.
No Red Card for H-1B Holders in Green Card Queue
The Donald Trump administration is not considering any regulatory changes that would force H-1B visa holders awaiting Green Cards to leave the United States, according to a representative of the country's immigration services, Economic Times reported.
