NEW DELHI: Rangebound trading in Asian markets and tepid technical charts suggest Nifty50 may consolidate after two days of battering.
Let's check out what might matter to Dalal Street all through the day:
Singapore trading sets stage for positive start Nifty futures on the Singapore Exchange were trading 11 points, or 0.10 per cent, higher at 10,632, indicating a positive start for the Nifty50.
Source: sgxnifty.org Tech view: Nifty forms Bearish Belt Hold On Wednesday, the index formed a lower high, lower low pattern for the second session and broke the crucial 10,650-10,630 range, as the index respected the 10,600 level at close. While a couple of near-term oscillators have triggered a sell signal on the daily time-frame chart, the rest are still in buy mode, said Arun Kumar, Market Strategist at Reliance Securities. Kumar expects the index to consolidate for a day or two.
Oil prices edge lower US West Texas Intermediate (WTI) crude futures, were at $53.38 per barrel, 25 cents, or 0.5 per cent below their last settlement. Front-month Brent crude oil futures were at $63.28 per barrel, down 20 cents, or 0.3 per cent, from their last close.
Asian markets cautious Asian shares stepped ahead cautiously on Thursday while oil rebounded from a steep sell-off, though rising US interest rates and escalating trade tensions kept financial markets on edge amid signs of slackening global growth, Reuters reported. Japan's Nikkei rose 0.7 per cent while Australian shares advanced 0.6 percent.
US markets settle flat The Dow Jones Industrial Average index ended flat at 24,464, the S&P500 index gained 8.04 points, or 0.30 per cent, to 2,649.93 and the Nasdaq Composite index added 63.43 points, or 0.92 per cent, to 6,972.25, Reuters reported.
RBI, govt likely to haggle over head of panel The Reserve Bank of India and the government are likely to engage in tough negotiations over the composition of the panel that will review the regulator’s capital requirements, including who will head the committee, said people familiar with the matter. This will be the first time a panel on RBI’s economic capital framework will have government nominees.
S&P Indices seek strategic partners after BSE exit After Asia’s oldest bourse BSE announced snapping of ties with S&P Dow Jones Indices (DJI), the latter said on Wednesday that it is looking at ways of expanding activity and seeking “strategic opportunities” in the country.
IDBI Bank hopes to be in black in Q1FY20 IDBI Bank has informed the government that it may return to profit by the first quarter of the next fiscal year, marking a turnaround for the debt-laden lender in which the Life Insurance Corporation of India (LIC) is set to acquire a majority stake.
Physical settlement in BoI from Feb expiry The security of Bank of India will be physically settled from February derivatives expiry onwards, according to a NSE circular. NSE said all new expiry month contracts issued in the security of Bank of India after expiry of November contracts, that is, February expiry onwards will be physical settled.
Rupee among top 3 EM currencies in Nov This month, the local unit has gained 2.79 per cent against the dollar, Bloomberg data showed, making the rupee the third best performer after the Chilean peso and the Indonesian rupiah.
FPIs sell Rs 1,652 cr worth of equities Foreign portfolio investors (FPIs) sold Rs 1,652 crore worth of domestic stocks on Thursday, provisional data available with BSE suggested. DIIs were net buyers to the tune of Rs 607 crore, data suggested.
