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

Sensex and Nifty ended mixed on September 5 after a rangebound trade as investors remained cautious in the absence of any fresh positive trigger for the market at home.

Losses in shares of bank and financial majors weighed on the sentiment after the Reserve Bank of India (RBI) made it mandatory for the banks to link all new floating-rate loans to specified external benchmarks. Experts feel the net interest margin (NIM) of banks will be affected by this move, at a time when credit cost due to their asset quality is increasing.

The Nifty index settled 3 points up at 10,847.90. Among the 50 stocks in the index, 34 ended higher but 16 incurred losses.

BSE Midcap and Smallcap indices outperformed benchmark Sensex, ending 0.15 percent and 0.72 percent up, respectively.

Nifty witnessed profit-taking at higher levels near 5-days EMA but found support near 10,800 levels.

According to the pivot charts, the key support level for the index is placed at 10,802.57, followed by 10,757.23. If the index moves upward, key resistance levels to watch out for are 10,906.67 and 10,965.43.

The Nifty Bank index closed at 26,919.70, down 0.75 percent. The important pivot level, which will act as a crucial support for the index, is placed at 26,742.1, followed by 26,564.5. On the upside, key resistance levels are placed at 27,170.6 and 27,421.5.

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

US Markets

US stocks surged on Thursday on expectations of a de-escalation in trade tensions after Washington and Beijing agreed to hold high-level talks next month, while strong US economic data eased fears of a domestic slowdown.

The Dow Jones Industrial Average jumped 1.41% to end at 26,728.15 points, while the S&P 500 gained 1.30% to 2,975.97. The Nasdaq Composite surged 1.75% to 8,116.83.

Asian Markets

Asian stocks tracked global peers and rose on Friday while safe havens such as government bonds and the yen were sold amid signs of easing US-China trade tensions and as firm US economic data bolstered risk appetites.

MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.2%, putting it on track for a 2% weekly gain - which would make it the best week since mid-June. Australian stocks gained 0.5%, South Korea's KOSPI rose 0.3% and Japan's Nikkei advanced 0.6%.

SGX Nifty

Trends on SGX Nifty indicate a positive opening for the broader index in India, with a 32 points gain or 0.29 percent. Nifty futures were trading around 10,894-level on the Singaporean Exchange.

Oil prices edge higher, set for weekly gain amid trade optimism

Oil prices edged higher on Friday, with crude benchmarks poised for multi-week gains amid a sharp drawdown in US crude inventories, while trade tensions eased after Washington and Beijing agreed to hold high-level talks next month.

Brent crude was up 3 cents at $60.98 a barrel, as of 0144 GMT, while US West Texas Intermediate (WTI) crude was up 8 cents at $56.38.

US, China to resume trade talks in October to end trade war

China and the US have agreed to hold the next round of trade negotiations in Washington in early October to end the bruising trade war following an agreement that both sides will jointly take concrete actions to create favourable conditions for the talks, Chinese officials said here on Thursday.

Twelve rounds of talks so far have failed to make headway as China continued to resist US President Donald Trump's demand for intrusive verification mechanism to supervise Beijing's promise to protect intellectual property rights (IPR) technology transfer and more access to American goods to the Chinese markets.

Trump kicked off the trade war in June last year demanding China to reduce the massive trade deficit which last year climbed to over USD 539 billion. Both the countries slapped additional tariffs on each other's goods which also resulted in global trade and economic slowdown.

Rupee extends gains by 28 paise to 71.84 against US dollar

The rupee settled for the day with gains of 28 paise at 71.84 against the US dollar on Thursday as investor sentiment revived after China and the United States said they will resume trade talks. The Indian currency has appreciated by 55 paise in the past two sessions.

At the interbank foreign exchange market, the local unit opened on a strong note at 71.87 and finally closed at 71.84, higher by 28 paise over its previous close. During the day, the domestic unit shuttled between a high of 71.79 and low of 71.98 during the day.

Banks start in-principle approval of retail loans in 59 mins

Online loan platform PSB Loans in 59 Minutes has launched in-principle retail loan approval for home and personal loan customers. The platform is currently offering loan approvals to MSME sector.

"We are extending home and personal loan for loan aspirants through '59 minutes portal'. We are glad that the benefits of this platform which was made available to MSMEs will be available to everyone," State Bank of India's managing director P K Gupta said in a release.

Trade uncertainty to trim $850 billion global output: Fed paper

Trade policy uncertainty driven by the Trump administration’s escalating dispute with China means hundreds of billions of dollars in lost U.S. output and as much as $850 billion lost globally through early next year, research published this week by the Federal Reserve suggests.

With U.S. GDP estimated at about $20 trillion, and world GDP at about $85 trillion, a 1% impact would put the drag from trade uncertainty at about $200 billion to US GDP, and $850 billion to global GDP, according to Reuters calculations.

SEBI circular on "unpaid shares" may lead to heavy market selling: Report

Brokers have requested market regulator SEBI to extend the deadline of a circular barring them from keeping 'unpaid shares"' in various accounts, a move that could trigger heavy market selling, according to a report in The Hindu Business Line. Around 25 percent out of Rs 1 lakh crore worth of pledged shares could be unpaid, brokers told the publication.

"Securities lying with TM/CM (trading member/clearing member) in a client collateral account, client margin trading securities account and client unpaid securities account, shall not be permitted to be pledged/transferred to banks/NBFCs for raising funds," the SEBI circular said.

US weekly jobless claims increase marginally

The number of Americans filing applications for unemployment benefits rose modestly last week, suggesting little impact on the labour market from trade tensions, which have eroded business confidence and undercut manufacturing.

Initial claims for state unemployment benefits increased 1,000 to a seasonally adjusted 217,000 for the week ended Aug. 31, the Labor Department said on Thursday. Data for the prior week was revised to show 1,000 more applications received than previously reported.

Economists polled by Reuters had forecast claims would be unchanged at 215,000 in the latest week. The Labor Department said claims for California, Hawaii, Kansas, Puerto Rico and Virginia were estimated last week because of Monday's Labor Day holiday.