What changed for the market while you were sleeping? 12 things you should know

The Nifty50 which started higher gathered momentum in the last one hour of the trading session on Thursday and closed above its crucial resistance level of 10,500 on Thursday. It made a strong bullish candle which closely resembles a Hanging Man kind of pattern on daily charts.

The index rallied 83 points after falling over 100 points in the previous trading session. Bulls pushed the index above crucial 50-DMA and 100-DEMA. Investors who went long in the index tracking the momentum, should ideally keep a stop below 10,410 levels.

The index saw some value buying at lower levels along with short covering which helped Nifty to reclaim 10,500 on closing basis which is a positive sign.

The Nifty50 which opened at 10,464 slipped to an intraday low of 10,419 before bouncing back above 10,500. It hit an intraday high of 10,535 before closing the day at 10,513, up 83 points.

“Bulls appear to have garnered some courage around 50 percent retracement level of the last leg of rally from the lows of 9,950 to a recent high of 10,929 as they signed off the session in style on bullish note with a positive candle which resembles Hammer formation,” Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in told Moneycontrol.

According to Pivot charts, the key support level is placed at 10,444.0, followed by 10,374.2. If the index starts moving upwards, key resistance levels to watch out are 10,559.4 and 10,605.

The Nifty Bank index closed up 1.29 percent at 26,016.80 on Thursday. The important Pivot level, which will act as crucial support for the index, is placed at 25,759.1, followed by 25,501.4. On the upside, key resistance levels are placed at 26,173.8, followed by 26,330.8.

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 fall after Trump cancels North Korea Summit

US stocks ended down slightly on Thursday after President Donald Trump canceled a planned summit with North Korea’s Kim Jong Un and threatened to impose tariffs on auto imports, though losses were limited by gains in Netflix and General Electric.

The Dow Jones Industrial Average fell 75.05 points, or 0.3 percent, to 24,811.76, the S&P 500 lost 5.53 points, or 0.20 percent, to 2,727.76 and the Nasdaq Composite dropped 1.53 points, or 0.02 percent, to 7,424.43.

Asian markets shaky in early trade

Asian shares were slightly weaker on Friday amid fragile market sentiment after US President Donald Trump called off a key summit with North Korea, though investor concerns were softened by expectations the two countries may still continue dialogue.

MSCI's broadest index of Asia-Pacific shares outside Japan ticked down. South Korea's Kospi fell 0.65 percent and Japan's Nikkei also fell 0.3 percent.

SGX Nifty

Trends on SGX Nifty indicate a flat opening for the broader index in India, a rise of 5 points, or 0.05 percent. Nifty futures were trading around 10,515 on the Singaporean Exchange.

Donald Trump cancels Singapore meeting with North Korea's Kim

US President Donald Trump today cancelled his proposed meeting North Korean leader Kim Jong-un on June 12 in Singapore, citing Pyongyang's "anger" and "hostility" as the reason behind his decision. Trump's announcement came hours after North Korea carried out what it said is the demolition of its nuclear test site yesterday.

GDP to grow at 7.5% in FY19; CAD, rupee a worry: Report

The country's GDP growth will accelerate to 7.5 percent this financial year, from 6.6 percent in the last fiscal, on better performance from the industrial and agricultural sectors, a Care Ratings report said yesterday.

Headline inflation, lending rates, fiscal prudence, current account deficit (CAD) and exchange rates, however, are the areas of concern, the report said. "We are expecting the GDP to grow by 7.5 percent in 2018-19. This growth will be contingent upon favourable monsoon, pick up in investment and increased private sector spending supported by continued government spending," said Madan Sabnavis, chief economist, Care Ratings.

Sebi eases market access for foreign investors in IFSC

Markets regulator Sebi on Thursday allowed ‘segregated nominee account structure’ in international financial services centre (IFSC) for such investors to trade on stock exchanges.

In segregated nominee account structure, orders of foreign investors will be routed through eligible segregated nominee account providers for trading on stock exchanges in IFSC while adhering to regulatory requirements, relating to identification of end-client, unique client code, order placement at client level, client level margining and position limits.

Oil prices ease after Russia says it may gradually raise output

Oil prices eased on Friday as Russia hinted it may gradually increase output after withholding supplies since 2017 together with producer cartel OPEC. Brent crude futures were at USD 78.78 per barrel, down 1 cent from their last close, but more than 2 percent below the USD 80.50 November 2014 high they reached on May 17.

ED files charge sheet against Nirav Modi over $2-bn PNB fraud

The Enforcement Directorate (ED) on Thursday filed its first charge sheet in the over $2 billion PNB fraud case involving diamantaire Nirav Modi and his associates, officials said. They said the about 12,000-page charge sheet or the prosecution complaint has been filed before a special court here under various sections of the Prevention of Money Laundering Act (PMLA).

The charge sheet also details the attachments made by the agency against Modi and his associates in the last few months after it first registered an FIR in this case on February 14.

India drags US to WTO over levy of additional duties on steel, aluminium

India has dragged the US to the World Trade Organization over Washington’s controversial additional duties on import of steel and aluminium. Despite growing concerns over the earlier additional duties of 25 percent and 10 percent on steel and aluminium, respectively, under the controversial Section 232 provisions, the Trump administration decided to investigate whether “core industries, such as automobiles and automotive parts, [which] are critical to our strength as a Nation” are being undermined by imports.

If the findings of the investigation into autos and auto parts are in line with Trump administration’s views, the US could slap additional duties of 25 percent on autos and automotive parts. India which is a major supplier of auto parts.

Rupee closes higher against US dollar

The Indian rupee along with Asian currencies gained on Thursday as the US dollar retreated after Federal Reserve minutes suggested that the central bank has a reasonably high bar for accelerating its rate-hike program.

The home currency ended at 68.35 against the US dollar, up 0.12 percent from its previous close of 68.43. The currency opened at 68.32 a dollar and touched a high and a low of 68.29 and 68.42, respectively. So far this year, the currency fell 6.3 percent.

238 companies to declare March quarter numbers

As many as 238 companies are scheduled to report their results for March quarter which include names like Bank of Baroda, BEML, Cadila Healthcare, EIL, Eris Lifesciences, Future Enterprises, Hindustan Copper, IDBI Bank, India Cements, Lakshmi Vilas Bank, Max Financial Services, Page Industries, PC Jeweller, Sun Pharma, Tech Mahindra, and Zuari Global among others.

5 stocks under ban period on NSE

Securities in ban period for the next day's trade under the F&O segment includes companies in which the security has crossed 95 percent of the market-wide position limit.

For May 25, 2018, BEML, DHFL, Jet Airways, Jain Irrigation Systems and Reliance Communications are present in this list.