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

The market fell sharply from intraday high and closed lower on April 8 as a rise in crude oil prices to five-month highs dented traders sentiment. Banking & financials, metals and select auto stocks faced selling pressure while IT outperformed.

The BSE Sensex declined 161.70 points to 38,700.53 and the Nifty 50 slipped 61.50 points to 11,604.50 and formed bearish candle, resembling a 'Bearish

Engulfing' kind of formation on daily charts.

According to the Pivot charts, the key support level is placed at 11,532.3, followed by 11,460.1. If the index starts moving upward, key resistance levels to watch out are 11,693.5 and 11,782.5.

The Nifty Bank index closed at 29,845.30, down 239.35 points on April 8. The important Pivot level, which will act as crucial support for the index, is placed at 29,630.57, followed by 29,415.83. On the upside, key resistance levels are placed at 30,146.07, followed by 30,446.83.

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.

S&P 500, Nasdaq edge higher as earnings season looms

The S&P 500 and the Nasdaq edged into positive territory on Monday, with gains held in check by falling industrials as investors braced for what analysts now expect to be the first quarter of contracting earnings since 2016.

The Dow Jones Industrial Average fell 83.97 points, or 0.32 percent, to 26,341.02, the S&P 500 gained 3.03 points, or 0.1 percent, to 2,895.77 and the Nasdaq Composite added 15.19 points, or 0.19 percent, to 7,953.88.

Asian shares held back by cautious mood

Asian shares got off to a subdued start on Tuesday as investors braced for key events later in the week, including the kick-off of the US earnings season and a crucial Brexit summit, while broader concerns over slowing global growth checked sentiment.

MSCI’s broadest index of Asia-Pacific shares outside Japan was basically flat after brushing its highest since late August last year during the previous session. Australian shares dipped 0.25 percent while Japan’s Nikkei was down 0.15 percent.

SGX Nifty

Trends on SGX Nifty indicate a flat opening for the broader index in India, a slip of 1 point or 0.01 percent. Nifty futures were trading around 10,682-level on the Singaporean Exchange.

Oil prices hit highest in five months as Libya fighting tightens supply

Oil prices on Tuesday reached their highest since November as concerns over exports from war-torn Libya stoked tightness in the market, with global supply already hit by OPEC-led production cuts and US sanctions on Iran and Venezuela.

International benchmark Brent futures touched their strongest level since last November at USD 71.34 per barrel on Tuesday, and were still at USD 71.16 at 0057 GMT, up 6 cents, or 0.1 percent, from their last close. US West Texas Intermediate (WTI) crude oil futures also hit a November 2018 high, at USD 64.77 per barrel, before easing to USD 64.58, which was still 18 cents, or 0.3 percent, above their last settlement.

Rupee tumbles 44 paise to close at 69.67 vs USD

The rupee declined by 44 paise to close at 69.67 against the US dollar Monday amid higher dollar demand from importers and rising crude oil prices. This is the third straight session of loss for the domestic unit, during which it has lost 126 paise. Forex traders said that dollar demand from importers and heavy selling in domestic equities added pressure to the domestic unit.

At the Interbank Foreign Exchange (forex) market, the rupee opened lower at 69.40 and fell further to touch the day's low of 69.71.

India's GDP expected to expand 7.5% in 2019-20: World Bank

India's GDP growth is expected to accelerate moderately to 7.5 percent in Fiscal Year 19-20, driven by continued investment strengthening, particularly private-improved export performance and resilient consumption, the World Bank has said.

The real GDP growth is estimated at 7.2 percent in FY18/19, the World Bank said in its latest report on South Asia on April 7 ahead of the spring meeting of the World Bank and the International Monetary Fund.

Data for the first three quarters suggest that growth has been broad-based. Industrial growth accelerated to 7.9 percent, making up for a deceleration in

services.

RBI issues norms for banks to set up currency chests

The Reserve Bank of India Monday came out with guidelines for banks to set up new currency chests, which include minimum area of 1,500 square feet for strong room. "Area of the strong room/ vault of at least 1,500 sq ft. For those situated in hilly/ inaccessible places, the strong room/ vault area of at least 600 sq ft," the RBI said while specifying minimum standards for setting up new currency chests.

Besides, the new chests should have a processing capacity of 6.6 lakh pieces of banknotes per day. For those situated in the hilly/ inaccessible places,

capacity of 2.1 lakh pieces of banknotes per day.

Govt defers oil block bid deadline by a month to May 15

The government has again deferred the last date for bidding for oil and gas exploration blocks offered under the Open Acreage Licensing Policy (OALP) by over a month to May 15. Last date for OALP bid round II and III, which are running almost concurrently, was April 10 but has now been pushed back.

"Bid submission closing date for OALP Bid Round II & III stands extended up to May 15, 2019," upstream regulator DGH said in a notice.

Bharti Airtel gets SEBI nod for Rs 24,000 cr rights issue

Bharti Airtel has received approval from the Securities and Exchange Board of India (SEBI) for a rights approval worth Rs 24,000 crore. "SEBI has given its nod for the rights issue" a senior government official said on April 8.

The promoter group of Bharti Airtel, including the Bharti Group and SingTel, will subscribe to Rs 11,785.7 crore in the Rs 25,000-crore rights issue while Singapore government's investment arm GIC Pvt. Ltd will be subscribing to shares worth Rs 5,000 crore.

Polycab India IPO subscribed 1.94 times on Day 2

The initial public offer of wires and cables manufacturer Polycab India Ltd was subscribed 1.94 times on the second day of the bidding on Monday. The IPO received bids for 3,41,44,983 shares against 1,76,37,777 shares on offer, according to the NSE data.

The category set aside for qualified institutional buyers (QIBs) was subscribed 3.60 times, non-institutional investors' segment by 70 per cent and retail investors' category by 1.51 times. The initial public offer comprises fresh issue of shares worth up to Rs 400 crore and offer for sale of up to 1,75,82,000 equity shares, including anchor portion of 74,54,119 equity shares.

Seven stocks 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 April 9, Adani Power, DLF, IDBI Bank, Jet Airways, PC Jeweller, Reliance Power and Wockhard are present in this list.

With inputs from Reuters & other agencies