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

Selling pressure in the last couple of hours of trade on April 10 wiped out all gains clocked on April 9, dragging the Sensex 354 points and the Nifty 50 below 11,600 levels.

Investors and traders turned cautious ahead of the first phase of general elections on April 11 and top technology companies' quarterly earnings on April 12.

The BSE Sensex was down 353.87 points or 0.91 percent to close at 38,585.35 while the Nifty 50 fell 87.70 points to 11,584.30 and formed bearish candle on the daily scale.

A sudden spike in VIX indicates limited upside with a volatile swing in the market, experts said, adding Option band signifies a lower trading range in between 11,500 to 11,760 zones.

According to the Pivot charts, the key support level is placed at 11,544.07, followed by 11,503.83. If the index starts moving upward, key resistance levels to watch out are 11,652.27 and 11,720.23.

The Nifty Bank index closed at 29,803.5, down 310.35 points on April 10. The important Pivot level, which will act as crucial support for the index, is placed at 29,662.46, followed by 29,521.43. On the upside, key resistance levels are placed at 30,050.17, followed by 30,296.83.

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.

Wall Street ekes out gains as investors shrug off Fed minutes

Technology stocks led Wall Street slightly higher on Wednesday, as US inflation data proved to be benign and the minutes from the Federal Reserve’s March meeting were unsurprising.

The Dow Jones Industrial Average rose 6.58 points, or 0.03 percent, to 26,157.16, the S&P 500 gained 10.01 points, or 0.35 percent, to 2,888.21, and the Nasdaq Composite added 54.97 points, or 0.69 percent, to 7,964.24.

Asian shares pause near 8-month high, dollar weakens

Asian stocks held near eight-month highs on Thursday and the dollar slipped again on expectations global interest rates will stay lower for longer after a dovish turn by the European Central Bank and milder than expected US inflation.

MSCI’s broadest index of Asia-Pacific shares outside Japan paused after four straight days of gains but held near its highest since last August. Japan’s Nikkei eased 0.2 percent as the yen strengthened.

SGX Nifty

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 17.5 points or 0.15 percent. Nifty futures were trading around 11,669-level on the Singaporean Exchange.

Oil prices dip on surging US crude stockpiles

Oil prices fell on Thursday after US crude stockpiles surged to their highest levels in almost 17 months amid record production. International benchmark Brent futures were at USD 71.57 per barrel at 0056 GMT, down 16 cents, or 0.2 percent, from their last close. US West Texas Intermediate (WTI) crude oil futures were at USD 64.36 per barrel, down 25 cents, or 0.4 percent, from their previous settlement.

Citing global slowdown, Fed sees no changes to rates in 2019

The Federal Reserve is likely to leave interest rates unchanged this year given risks to the US economy from a global slowdown and uncertainty over trade policies and financial conditions, according to the minutes from its March 19-20 policy meeting.

The US central bank pivoted abruptly at that meeting to a much-less aggressive posture, and the minutes released on Wednesday showed policymakers agreed to be “patient” about making any moves on rates.

“A majority of participants expected that the evolution of the economic outlook and risks to the outlook would likely warrant leaving the target range unchanged for the remainder of the year,” according to the minutes.

Rupee spurts 19 paise to 69.11 vs USD

Rising for the second straight session, the rupee advanced 19 paise Wednesday to close at 69.11 against the US dollar on strong foreign fund inflows amid the greenback's weakness against key rivals overseas.

At the Interbank Foreign Exchange, the domestic unit opened at 69.26 and advanced to a high of 69.09. It finally settled at 69.11, showing a gain of 19 paise over its previous close.

MFs close FY19 with 11.41% growth in AUM at Rs 23.8 lakh cr

The mutual fund closed the year with an 11,41 percent rise in their total assets under management at Rs 23.80 lakh crore in the year to March, from Rs 21.36 lakh crore in the previous year, according to the industry data released Wednesday. On a monthly basis, AUM grew 2.73 percent from Rs 23.16 lakh crore in February.

"Increase in net inflows in equity and income categories as against net outflows in the previous month led to the growth in AUM on a yearly basis," according to the Association of Mutual Fund Industry (AMFI) data collated by rating agency Icra.

Sebi revises charges related to basic services demat account

Annual maintenance charges levied on debt securities held through basic services demat accounts will be revised from June 1, according to Sebi. The move is expected to further boost participation of retail investors in the debt market.

Basic Services Demat Account (BSDA) offers limited services at a lower cost for retail investors. "Based on representation received from market participants... it has been decided to revise the structure of charges for debt securities," Sebi said in a circular on Wednesday.

For debt securities worth up to Rs 1 lakh held through BSDA, there would no annual maintenance charge. A maximum charge of Rs 100 would be levied if the value of holdings is above Rs 1 lakh and up to Rs 2 lakh.

Mutual fund SIP collections up 38% in FY19 despite market volatility

Systematic investment plans, better known as SIPs, have registered a 38 percent on-year rise in collections to Rs 92,693 crore, despite the equity market grappling with volatility during the same period.

According to data provided by the Association of Mutual Funds in India (AMFI), mutual funds collected a total of Rs 67,190 crore through SIPs in April-March FY18.

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 11, Adani Power, DLF, IDBI Bank, Jet Airways, PC Jeweller, Reliance Power and Wockhardt are present in this list.