Market Movers: What changed for D-Street while you were sleeping

Asian stocks tumbled this morning. Will domestic equities hold ground?

NEW DELHI: Weak economic data, cautious Fed and an inverted yield curve in US showing a fall in long-term bond rates below short-term prices are stoking concerns over a likely recession in the world’s largest economy. Asian stocks tumbled this morning. Will domestic equities hold ground?

Let us check out what all may move market all through Monday:
  • Singapore trading sets stage for gap-down start
    Nifty futures on Singapore Exchange traded 63 points, or 0.55 per cent, lower at 11,407, indicating a gap-down start for the Nifty50.

  • Tech view: Nifty50 forms Large Black candle
    The occurrence of Large Black candle near the resistance area of 11,580 has lent credibility to the resistance zone. Nifty last week faced resistance exactly at the lower end of the 30-month-long upper rising channel. It had breached this channel on the downside in the first week of October.

  • Asian markets, US stock futures tumble
    US stocks futures turned negative in early Asian trading with E-minis for the S&P 500 skidding 0.5 per cent, Reuters reported. MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.6 per cent. Japan’s Nikkei tumbled 2.9 per cent, South Korea’s Kospi index declined 1.5 per cent.


  • US stocks log biggest fall since Jan 3
    US stocks saw their biggest one-day percentage declines since January 3, as weak factory data from the US and Europe led to an inversion of US Treasury yields, fueling fears of a global economic downturn. The Dow Jones Industrial Average fell 460.19 points, or 1.77 per cent, to 25,502.32 while the S&P500 index lost 54.17 points, or 1.90 per cent, to 2,800.71.

  • FPIs buy Rs 1,375 crore worth of equities
    Foreign portfolio investors (FPIs) bought Rs 1,374.57 crore worth of domestic stocks on Friday, data available with NSE suggested. DIIs were net sellers to the tune of Rs 675.37 crore, data suggested.

MONEY MARKET
  • Rupee down: The rupee Friday declined by 12 paise to close at 68.95 against the US dollar on rise in demand for the greenback from importers and sell-off in domestic equities.

  • 10-yr bond yields down: India 10-year bonds' yields fell 0.02% to 7.50% on Friday from 7.52% over the previous trading session, according to RBI data.

TOP VIDEO
How mutual funds turned recent crises into opportunities: Nimesh Shah


TOP QUOTE
'Betting on financials and consumer durables to play risk-on rally'

MACROS

  • Sebi seeks more power to inspect books
    With an aim to thwart financial frauds, regulator Sebi has sought powers to conduct inspection of books of accounts of listed companies for contravention of any securities law and also to take direct action against the fraudsters. Besides, Sebi has proposed a heavy penalty for altering, destroying, mutilating, concealing or falsifying records and documents or other tangible objects with an intent to obstruct, impede or influence a legal investigation.

  • Disinvestment receipts beat target
    Receipts from sale of government’s stake in PSUs have crossed the budgeted amount for the fiscal year. “As against a target of Rs 80,000 crore for disinvestment for the current year, the divestment receipts have touched Rs 85,000 crore today,” finance minister Arun Jaitley tweeted on Friday.



  • Employment generation at 17-month high?
    Net employment generation in the formal sector touched a 17-month high of 8.96 lakh in January, according to the latest EPFO payroll data. The addition in January was 131 per cent higher as compared with 3.87 lakh EPFO subscribers added in the year-ago month. In September 2017, 2,75,609 jobs were created.

  • India among fastest growing large economies: IMF
    India has been one of the fastest growing large economies in the world, the International Monetary Fund (IMF) has said, asserting that the country has carried out several key reforms in the last five years, but more needs to be done. Details about Indian economy would be revealed in the upcoming World Economic Outlook (WEO) survey report to be released by IMF next month.
In Video: How mutual funds turned recent crises into opportunities: Nimesh Shah, ICICI Pru AMC
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