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

The Nifty which started with a gap-up build momentum and reclaimed 10,800 levels on Tuesday but failed to close above Monday’s intraday high of 10,850. It formed a bullish candle on the daily charts.

The index has to clear one big resistance level placed at 10,930 before it heads towards 11,000 and then to fresh highs. For bulls to remain in charge of the index, it has to hold above 10,777 levels on closing basis.

The Nifty, which opened at 10,816, rose to an intraday high of 10,856. It slipped to an intraday low of 10,789 before bouncing back towards 10,800 levels. It closed 55 points higher at 10,842.

Bank Nifty managed to respect previous day’s low and gradually extended its gains towards 26,650 zones. It formed a Bullish Hammer Candle followed by multiple Dojis on daily scales.

India VIX fell down by 3.41 percent at 12.73 levels. On the options front, maximum Put OI is placed at 10,600 followed by 10,700 strikes while maximum Call OI is placed at 11,000 followed by 10,900 strikes.

According to Pivot charts, its key support is placed at 10,802.63, followed by 10,762.47. If the index starts moving upward, key resistance levels to watch out are 10,869.73 and 10,896.67.

The Nifty Bank index closed at 26,607.1. The important Pivot level, which will act as a crucial support for the index, is placed at 26,485.8, followed by 26,364.5.

Key resistance levels are placed at 26,692.4, followed by 26,777.7.

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

Wall Street made modest gains on Tuesday while the US dollar rose slightly against a basket of major currencies, with only muted impact from the long-awaited US-North Korea summit aimed at denuclearizing the Korean peninsula. The Fed is widely expected to raise interest rates for the second time this year when it concludes its policy meeting on Wednesday.

The Dow Jones Industrial Average fell 1.58 points, or 0.01 percent, to 25,320.73, the S&P 500 gained 4.85 points, or 0.17 percent, to 2,786.85, and the Nasdaq Composite added 43.87 points, or 0.57 percent, to 7,703.79.

Asian stocks trade weak as investors brace for Fed

Asian shares edged slightly lower on Wednesday as investors looked to the Federal Reserve policy decision and any clues it might give on future rate hikes, shifting focus away from the historic US-North Korea summit in Singapore.

MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.15 percent in early trade while Japan's Nikkei eked out gains of 0.10 percent.

SGX Nifty

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 20.5 points or 0.19 percent. Nifty futures were trading around 10,826-level on the Singaporean Exchange.

US to stop 'war games' with South Korea: Trump

President Donald Trump yesterday said the US will stop conducting military drills on the Korean peninsula, after his historic summit here with North Korean leader Kim Jong Un. "We will be stopping the war games which will save us a tremendous amount of money," Trump told reporters, adding he had agreed to stop the "war games" because he considers them "very provocative".

The move appears to be based on the 'freeze for freeze' proposal mooted by China, under which North Korea would stop nuclear and missile tests in exchange for a halt to the military exercises. Trump and Kim yesterday met for an unprecedented summit aimed at normalising bilateral ties and complete denuclearisation of the Korean peninsula.

Retail inflation hits 4 month-high at 4.87% in May

India’s retail inflation hit a four-month high after jumping to 4.87 percent in May from April’s 4.58 percent driven by costlier food and fuel, data released by statistics office showed. Retail inflation, measured by Consumer Price Index (CPI), had fallen to 2.18 percent in May 2017.

CPI is the main price gauge that the Reserve Bank of India (RBI) tracks. May’s data is an indication that inflation, which is close to 5 percent, is inching towards the apex bank’s upper tolerance level of 6 percent.

India’s factory output jumps to 4.9% in April

India’s industrial production grew 4.9 percent in April, as compared with 4.4 percent jump in March, data released by statistics office on Tuesday showed. The factory output index growth rate moderated in March after consistently being above 7 percent between November and February. It expanded 6 percent a year ago.

Sebi proposes direct listing of Indian cos on foreign bourses

Markets regulator Sebi yesterday proposed to allow direct listing of Indian companies on overseas bourses and of foreign firms on Indian exchanges, while setting up an expert panel to look into the details. Currently, Indian companies can list their shares through depository receipts abroad, while foreign companies need to go through the Indian Depository Receipt route for listing of equities.

"Considering the evolution and internationalisation of the capital markets, it would be worthwhile to consider facilitating companies incorporated in India to directly list their equity share capital abroad and vice versa," the Securities and Exchange Board of India (Sebi) said in a release.

RBI needs more powers to oversee PSB: Governor to panel

The Reserve Bank needs more powers to oversee public sector banks (PSBs), Governor Urjit Patel told a parliamentary panel today amid mounting bad loans in state-run lenders. The RBI governor, who appeared before the Parliamentary Standing Committee of Finance, faced tough questions from lawmakers on bad loans, bank frauds, cash crunch and other issues, according to sources.

According to sources, Patel said it was impossible to look after each and every branch of a bank in terms of an audit. Patel told the panel that steps were being taken to strengthen the banking system. "We are confident that we will be able to tide over the crisis," a source quoted the governor as saying with respect to the NPA situation.

Promoters' pledged shares value falls 13 % in May

The value of shares pledged by the promoters of BSE-listed companies dropped nearly 13 percent to Rs 2.25 lakh crore at the end of May, according to exchange data. The worth of promoters' pledge holding stood at Rs 2.58 lakh crore as on April 30, 2018.

The value of shares pledged by the promoters of BSE-listed companies came down to Rs 2,25,170 crore at the end of May this year from Rs 2,57,744 crore as on April-end, indicating a drop of 12.64 percent, according to the exchange data. Till May 31, pledging of shares by promoters was seen in as many as 3,005 out of 4,851 BSE-listed companies with a market capitalisation of over Rs 147 lakh crore.

RBI rate hike to impact India Inc's capex: CII

Rate hike by the Reserve Bank will increase the cost of doing business and impact capital expenditure by India Inc, industry body CII warned. "The cost of doing business goes up because of the hike and it will impact capex (capital expenditure) by the industry," Confederation of Indian Industry (CII) president and vice-chairman of Bharti Enterprises, Rakesh Bharti Mittal, said.

Oil prices fall on prospect of rising supplies

Oil prices fell on Wednesday, pulled down by rising supplies in the United States and expectations that voluntary production cuts led by producer cartel OPEC could be loosened. Brent crude futures were at USD 75.49 per barrel down 39 cents, or 0.5 percent, from the last close. US West Texas Intermediate crude futures were at USD 65.92 a barrel, down 44 cents, or 0.7 percent from their last settlement.

Rupee closes lower by 7 paise

The rupee washed out its initial gains to close down by 7 paise at 67.49 against the US currency due to fag-end dollar demand from banks and importers. A rally in domestic equities and a subdued dollar overseas failed to lift the forex sentiment.

The rupee resumed lower at 67.48 from overnight close of 67.42 at the interbank foreign exchange (forex) market on bouts of dollar demand. It lost further ground to hit a low of 67.52 in mid-morning deals before a trend reversal.

4 stocks under ban period on the NSE

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

For June 13, Balrampur Chini, DHFL, Jet Airways and DHFL are present in the F&O ban list.