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

The Nifty registered another 100-point fall on January 3 and slipped below its crucial long-term as well as short-term moving averages. The index formed a strong bearish candle on the daily charts for the second consecutive day in a row.

Weak global cues, as well as persistent selling in metals and auto names, dragged the Nifty below its 200-day moving average as well as 50-day exponential moving average (EMA) of 10,746.

Investors are advised to stay on sidelines until a breakout above 10,930-10,950 or a breakdown below 10,533 before initiating any fresh positions suggest experts. In case there is a pullback because of trading near support levels then it is advisable to go short with a stop below 10,790.

India VIX moved up by 2.44 percent at 16.79 levels. VIX has again spiked higher which is not giving comfort to bulls and finding selling pressure at a bounce back move.

According to Pivot charts, the key support level is placed at 10,617.6, followed by 10,563.0. If the index starts moving upwards, key resistance levels to watch out are 10,770.4 and then 10,868.6.

The Nifty Bank index closed at 26,959.8. The important Pivot level, which will act as crucial support for the index, is placed at 26,853.66, followed by 26,747.53.

On the upside, key resistance levels are placed at 27,136.06, followed by 27,312.33.

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 plunges as factory data, Apple warning fuel slowdown fears

Wall Street plunged on Thursday after slowing US factory activity on the heels of a dire revenue warning from Apple Inc fueled fears of a global economic slowdown. The magnitude of Apple’s holiday quarter revenue shortfall sent shockwaves through the technology sector, which pulled all three major US stock indexes down more than 2 percent, with the Nasdaq posting a 3 percent loss.

The Dow Jones Industrial Average fell 660.02 points, or 2.83 percent, to 22,686.22, the S&P 500 lost 62.14 points, or 2.48 percent, to 2,447.89 and the Nasdaq Composite dropped 202.43 points, or 3.04 percent, to 6,463.50.

Global markets wager on Fed rate cut as slowdown fears swell

Global markets were on edge on Friday as dire US economic data slammed Wall Street and pushed investors to bet the Federal Reserve could reverse its policy tightening before the end of this year.

Japan's Nikkei spiralled about 3.6 percent lower, led by a spike in the yen. Australian shares skidded over 1 percent, dragging MSCI's index of Asia-Pacific shares outside Japan 0.2 percent lower to near two-month lows.

Fears the Sino-US trade battle would drag down world growth roiled risk-sensitive assets in 2018, driving a surge in volatility and sending major stock markets deep into the red.

SGX Nifty

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 17.5 points or 0.16 percent. Nifty futures were trading around 10,702-level on the Singaporean Exchange.

China services sector extends solid expansion in December: Caixin PMI

China’s services sector extended its solid expansion in December, offering some cushion for the slowing economy, a private survey showed on Friday. The Caixin/Markit services purchasing managers’ index (PMI) rose to a six-month high of 53.9 in December, up from 53.8 in the previous month and well above the 50.0 mark separating growth from contraction.

New export business rose at the fastest rate in six months as firms stepped up efforts to attract orders from overseas. Total new order growth eased slightly, however, pointing to softening domestic demand.

Oil slips on economic downturn fears, but OPEC cuts offer support

Oil prices fell on Friday after the United States showed signs of following Asia into an economic slowdown, although supply cuts by producer club OPEC kept declines in check.

US West Texas Intermediate (WTI) crude oil futures were at $46.71 per barrel at 0117 GMT, down 35 cents, or 0.7 percent, from their last settlement.

International Brent crude futures were down 38 cents, or 0.7 percent, at $55.57 a barrel.

SEBI comes out with rules for single regime for FPI, NRI fund flows

Markets regulator SEBI has come out with rules for merger of foreign portfolio investment (FPI) and non-resident Indian/overseas citizens of India routes to bring in a single regime for foreign investors and regulate NRI and person of Indian origin fund inflows.

The regulator has also exempted housing finance companies and systemically important NBFCs (non-banking financial companies) from disclosure of increase or decrease in shareholding due to encumbrance or release of encumbered shares, SEBI said in a notification.

Rupee dips 2 paise to 70.20 against US Dollar

The rupee weakened for the second straight session on January 3, slipping by 2 paise to 70.20 against the US dollar on robust foreign fund outflows amid rising trade deficit worries.

Forex traders said rising domestic fiscal deficit worries, firming crude prices and sustained foreign fund outflows weighed on the local unit. At the Interbank Foreign Exchange (forex) market, the rupee opened lower at 70.30 and fell further to touch the day's low of 70.53.

SEBI allows custodial services in commodity mkt, paves way for MF entry

Markets regulator SEBI has allowed custodial services in the commodity derivatives market which would enable participation of institutional investors, including mutual funds, in the segment.

Under the new framework, existing custodians will be permitted to add commodities as an asset class and provide physical delivery of both the securities and commodities, Securities and Exchange Board of India (SEBI) said in a notification dated January 1.

Crisis to crimp operating profits of NBFCs by up to 0.5%: ICRA

The ongoing issues with the non- bank lenders will crimp the operating profits of such companies by up to 0.50 percent, a report said. The decline in profitability will be primarily due to increase in the cost of funds, slowdown in portfolio growth and cost of carrying additional liquidity due to the troubles, ratings agency ICRA said.

All these factors will have an impact of 0.30-0.50 percent on the operating profit, the agency said, elaborating on the impact of each of the setbacks. The cost of funds will increase by up to 0.50 percent for such lenders, while the slowdown in growth will have an impact of up to 0.10 percent on the operating profit.

2 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 January 4, Adani Power and Jet Airways are present in this list.