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

Benchmark indices saw a good start with the Sensex gaining more than 160 points amid consolidation on July 15, but it was a bad day for broader markets as the Nifty Midcap index fell 0.8 percent.

The sectoral trend was mixed with Nifty IT index gaining nearly 3 percent and Pharma 1 percent but Bank and FMCG lost half a percent each.

The BSE Sensex gained 160.48 points to close at 38,896.71 while the Nifty 50 rallied 35.90 points to 11,588.40 forming a bearish candle (as the closing price is lower than opening) that resembles a Hammer kind of pattern on the daily scale.

According to the pivot charts, the key support level is placed at 11,540.93, followed by 11,493.57. If the index starts moving upward, the key resistance levels to watch out are 11,627.03 and 11,665.77.

The Nifty bank closed at 30,445.95, down 155.50 points on July 15. The important pivot level, which will act as crucial support for the index, is placed at 30,288.16, followed by 30,130.43. On the upside, key resistance levels are placed at 30,649.66, followed by 30,853.43.

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.

US Markets

The benchmark S&P 500 index ended little changed on Monday after oscillating between positive and negative territory throughout the session after Citigroup Inc kicked off the earnings season with a mixed quarterly report.

The Dow Jones Industrial Average rose 27.13 points, or 0.1 percent, to 27,359.16, the S&P 500 gained 0.53 point, or 0.02 percent, to 3,014.3 and the Nasdaq Composite added 14.04 points, or 0.17 percent, to 8,258.19.

Asian Markets

biggest economy, with markets remaining focused on a likely US rate cut by the end of the month.

percent and Japan’s Nikkei stock index dipped 0.36 percent.

SGX Nifty

Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a fall of 7.5 points or 0.06 percent. Nifty futures were trading around 11,539-level on the Singaporean Exchange.

Oil down for second day as US Gulf of Mexico output returns

Oil prices fell for a second day on Tuesday as more production facilities returned to operation in the US Gulf after Hurricane Barry swept through over the weekend, while Chinese economic data dimmed the outlook for crude demand.

Brent crude futures were down 10 cents, or 0.2 percent, at USD 66.38 a barrel by 0028 GMT. US crude fell by 10 cents, or 0.2 percent to USD 59.48 a barrel. The US benchmark fell about 1 percent in the previous session.

Rupee rises by 15 paise to 68.54 against dollar

The rupee on July 15 advanced by 15 paise to close at 68.54 against the US currency, tracking gains in domestic equities and weakness in the greenback overseas. At the interbank foreign exchange market, the rupee opened at 68.59 a dollar and advanced to a high of 68.51 during the day. It finally settled at 68.54, up 15 paise against its previous close of 68.69.

Forex traders said Indian rupee gained taking cues from the higher Asian currencies. The dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.01 per cent to 96.80.

India's June trade deficit narrows to $15.28 bn

India's trade deficit narrowed to USD 15.28 billion in June from USD 16.6 billion in June 2018, the trade ministry said in a statement on July 15.

Merchandise exports fell 9.71 percent to USD 25.01 billion in June compared with a year earlier, and imports were down 9.06 percent at USD 40.29 billion, the data showed.

SEBI issued 47 warning letters to mutual fund houses in 2018-19

SEBI issued 47 warning letters to mutual fund houses in the last financial year, and the watchdog in consultation with the central government is examining various issues related to mutual funds on a continuous basis.

In a written reply to the Lok Sabha, Union minister Anurag Thakur said that SEBI, in its regulatory oversight, has noticed various irregularities with respect to functioning of mutual funds like failure to identify and appropriate all the expenses in individual schemes as per regulatory requirements.

"During 2018-19, 47 warning letters and 24 deficiency letters were issued to mutual funds/ Asset Management Companies and two warning letters were issued to trustees of mutual funds while adjudication proceedings were initiated against five AMCs, four trustee companies and one CEO of AMC," he said.

India's steel exports fall 34% to 6.36 MT in 2018-19

The country's total steel exports fell 34 percent in 2018-19 to 6.36 million tonne (MT) compared to the preceding fiscal, Parliament was informed on July 15. "In comparison to 2017-18 (9.62 million tonnes), India's total steel export has declined by 34 percent in 2018-19 and stood at 6.36 million tonnes," Union Minister for Steel Dharmendra Pradhan said in a written reply to the Lok Sabha.

He also informed the house that the government has taken appropriate measures such as anti-dumping and countervailing duties in order to protect the domestic industry from unfair external competition. "Government has also notified 53 Steel and Steel Product (Quality Control) Orders which is applicable for both domestic production as well as imports," he said.

RBI slaps Rs 7 crore fine on SBI for non-compliance of directions

The Reserve Bank of India (RBI) has levied a penalty of Rs 7 crore on State Bank of India (SBI) based on findings of an inspection report. The regulatory lapses relate to bad loans classification, fraud risk management and reporting of frauds.

“Based on the inspection report and other relevant documents, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for non-compliance with directions issued by RBI,” the banking regulator said in a statement on July 15.

14 companies to report June quarter numbers today

As many as 14 companies will declare their results for the quarter ended June which include names like DCB Bank, Federal Bank, HDFC AMC, MCX etc. among others.

Four stocks under F&O ban period on NSE

For July 16, DHFL, IDBI Bank, Reliance Capital and Reliance Infrastructure are under the F&O ban period.

Securities in ban period under the F&O segment include companies in which security has crossed 95 percent of the market-wide position limit.