What changed for the market while you were sleeping? Top 10 things to know

Brutal sell-off following sharp correction in global peers dragged benchmark indices to fresh six-month low on Thursday. The Nifty50 ended with deep cuts amid fears of rapidly rising interest rates and likely slowdown in global economic growth hinted by IMF.

The Nifty50 opened with big gap down at 10,169.80 followed by a bit of recovery from day's low of 10,138.60 in later part of the session. The index still closed 225.40 points lower at 10,234.70, the lowest closing level since April 4, 2018.

Experts expect the most selling pressure could be possible if the index breaks Thursday's low of 10,138 in coming sessions.

India VIX moved up sharply by 14.68 percent to 20.53 levels. Spurt in VIX from previous day's low suggests that bears are not loosening their grip and bounce are being sold in the market. Now VIX has to cool down below 17.50-17 zones to get any sign of consolidation, experts said.

According to Pivot charts, the key support level is placed at 10,136.87, followed by 10,039.03. If the index starts moving upwards, key resistance levels to watch out are 10,334.27 and 10,433.83.

The Nifty Bank index closed at 24,783.95, up 537.75 points on Thursday. The important Pivot level, which will act as crucial support for the index, is placed at 24,538.37, followed by 24,292.83. On the upside, key resistance levels are placed at 24,984.77, followed by 25,185.63.

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 tumbles again, Dow falls 2%

Wall Street extended its slide into a sixth session and a global equity index fell to a 1-year low on Thursday as investors feared an escalating US trade war with China and risks from a recent climb in interest rates. The Nasdaq flirted with correction territory, sliding as much as 10.3 percent from its August 29 closing record high, before paring losses to end off those levels and avoiding confirming a correction.

The Dow Jones Industrial Average fell 545.91 points, or 2.13 percent, to 25,052.83, the S&P 500 lost 57.31 points, or 2.06 percent, to 2,728.37 and the Nasdaq Composite dropped 92.99 points, or 1.25 percent, to 7,329.06.

Asian shares on edge after 9-day rout

Asian shares appeared tentative on Friday, holding steady after a nine-day losing streak, but sentiment was frail after Wall Street shares crumbled and expectations of market volatility shot up to an eight-month high.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2 percent after the opening of the South Korea and Australian markets, a day after it fell 3.6 percent to hit 1-and-a-1/2 year low. Japan's Nikkei fell 0.6 percent.

SGX Nifty

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 34 points or 0.33 percent. Nifty futures were trading around 10,313-level on the Singaporean Exchange.

Fresh import curbs on anvil to contain CAD, rupee

The government may announce a fresh set of measures that could include higher customs duties and import restrictions on a certain non-essential items as part of a broader plan to contain a widening current account deficit (CAD) and arrest the rupee’s slide. It is learnt that there could be a new list of items that would attract higher import duty. In addition, sources said that the government is also mulling quantitative restrictions on inward shipments.

The Prime Minister’s Office (PMO) will also take stock of the situation today (October 12), particularly with the situation pertaining to CAD and depreciating rupee, sources told Moneycontrol. India’s CAD widened to 2.4 percent of GDP in April-June and the rupee is hovering at above 74 to a dollar.

RBI remains net seller of US dollar in August; sells $2.323 bn

The Reserve Bank of India (RBI) remained net seller of the US dollar in August, as it sold $2.323 billion of the greenback in the spot market, RBI data showed. In the reporting month, the central bank purchased $3.680 billion, while sold $6.003 billion in the spot market, according to the data.

In FY18, the apex bank had net purchased $33.689 billion of US dollars from the spot market. It had bought $52.068 billion from the spot market, while selling $18.379 billion. In FY17, the RBI had bought $12.351 billion of the US dollar on a net basis. In the forward dollar market, the outstanding net forward purchase at the end of August was $5.730 billion, compared with $10.689 billion in July, according to the RBI data.

Rupee recovers after slumping to record low, up 9 paise to 74.12

The rupee climbed 9 paise to end at 74.12 per dollar on October 11 after tumbling to a fresh lifetime low in intra-day trade amid a sharp sell-off in global markets. Softening crude oil prices and the greenback weakening against other currencies provided support to the home unit, brokers said.

At the Interbank Foreign Exchange (Forex), the rupee opened lower at 74.37 and lost further ground to hit a record intra-day low of 74.50 against the US dollar on strong demand for the American currency from importers amid unabated foreign fund outflows.

Oil prices hold ground, but set for 4% weekly fall

Oil prices steadied on Friday after a market rout driven by sharp falls in equity markets and indications that supply concerns have been overblown, but were still on track for a fall or more than 4 percent for the week.

Brent crude futures edged up 13 cents to $80.39 a barrel by 0042 GMT. The contract fell 3.4 percent on Thursday, after hitting a low of $79.80, its weakest since Sept. 24. US West Texas Intermediate (WTI) crude futures were up 11 cents at $71.08 a barrel, after falling 3 percent in the previous session to the lowest since September 21.

SEBI asks depository participants to report FPI registration on monthly basis

With an aim to bring transparency in processing of applications for FPI registration, SEBI asked depository participants to inform on monthly basis about the average time taken by them in dealing such requests.

The designated depository participants (DDPs) will have to provide the number of foreign portfolio investors (FPI) applications received and the average time taken in processing of such applications during the immediate preceding month to SEBI(Securities and Exchange Board of India) by fifth working day of every month, in a prescribed format.

"For the purpose of transparency in the processing of applications for FPI registration, it has been decided that the average time taken by the DDPs in processing such applications be disseminated on SEBI's website on a monthly basis," the regulator said in a circular.

TCS reports net profit of Rs 7,901 cr

Tata Consultancy Services reported results for the quarter ended September 30. It reported a net profit of Rs 7,901 crore for the quarter ended September which was slightly lower than the CNBC-TV18 estimate of Rs 8,065 crore. The IT major reported a net profit of Rs 6,446 in the corresponding quarter of last fiscal. On a sequential basis, the net profit rose by 7.6 percent.

TCS revenue rose 20.7 percent on a YoY basis to Rs 36,854 crore for the quarter ended September, and on a quarter-on-quarter basis, it rose by 7.57 percent. In constant currency terms, revenues rose by 11.5 percent on a YoY basis.

HUL likely to report double digit growth in Q2 earnings

FMCG major Hindustan Unilever will announce its earnings for the second quarter on October 12. Overall the July-September period was strong for consumer goods companies including HUL, brokerage houses said. The shift in demand from unorganised to organised players after the implementation of Goods and Services Tax (GST), price hikes during the quarter, cost-saving strategies and rural growth are likely to boost HUL earnings growth to double digits in Q2 (YoY), research firms said.

Overall volume growth is likely to be in the range of 7-9 percent, which is expected to boost the company's revenue growth during the quarter, brokerage houses said. Revenue growth is expected to be in the range of 9-15 percent driven by volume, brokerage houses added.

1 stock under ban period on NSE

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

For October 12, IDBI Bank is present in this list.