What changed for the market while you were sleeping? Top 12 things to know

Benchmark indices Sensex and Nifty on February 17 ended in the red for the third consecutive session as investor sentiment remained fragile due to concerns over India's economic growth and the impact of Supreme Court's AGR order on telecom and banking stocks.

Sensex closed 202 points, or 0.49 percent, down at 41,055.69 while Nifty ended 68 points, or 0.56 percent, lower at 12,045.80.

BSE Midcap and Smallcap indices underperformed the benchmark, suffering losses of 0.91 percent and 1.02 percent, respectively.

According to the pivot charts, the key support level for Nifty is placed at 12002, followed by 11958.2. If the index continues moving up, key resistance levels to watch out for are 12124.6 and 12203.4.

Nifty Bank closed 0.50 percent down at 30,680.70. The important pivot level, which will act as crucial support for the index, is placed at 30541.4, followed by 30402.1. On the upside, key resistance levels are placed at 30909.1 and 31137.5.

Stay tuned to Moneycontrol to find out what happens in currency and equity markets today. We have collated a list of important headlines across news platforms which could impact Indian as well as international markets:

Asian Markets

Shares in Asia fell as the new coronavirus outbreak continued to roil companies amid expectations it would cause a slowdown. Japan’s Nikkei 225 tumbled 0.65% in early trade, after the previous day’s losses. The Kospi also slipped 0.75% and Australia’s ASX 200 declined 0.23% in the morning trade.

SGX Nifty

Trends on SGX Nifty indicate a negative opening for the broader index in India, with a 29 points loss or 0.24 percent. The Nifty futures were trading around 12,043-level on the Singaporean Exchange.

Rupee rises 8 paise against US dollar

The Indian rupee appreciated by 8 paise to settle at 71.29 against the US dollar on Monday, helped by some moderation global crude prices. However, stronger US dollar against key rival currencies and subdued domestic equities kept the rupee's rise in check, according to forex dealers.

At the interbank foreign exchange market, the rupee started on a weak note at 71.45 against the US dollar. During the session, it swung between a low of 71.48 and a high of 71.24.

RIL to consolidate media, distribution entities under Network18 Media & Investments

Reliance Industries is consolidating its media and distribution properties under a single entity, making Network 18 the vanguard of the conglomerate’s advance in the media and entertainment business.

“The aggregation of a content powerhouse across news and entertainment (both linear and digital) and the country’s largest cable distribution network under the same umbrella shall boost efficiency and exploit synergies, creating value for all stakeholders,” Reliance said in a statement on Monday after the boards of TV18 Broadcast, Hathway Cable & Datacom, Den Networks and Network18 Media & Investments met to approve the consolidation.

For every 100 shares they own, shareholders of TV18 Broadcast will receive 92 shares of Network 18. Hathway shareholders will get 78 shares of Network18 and Den shareholders 191 shares of Network18.

Oil edges up as output cut hopes offset coronavirus concern

Oil prices inched up on Monday as concerns over the economic fallout from the coronavirus outbreak in China were offset by expectations that potential production cuts from major producers could tighten global crude supply.

Brent crude was at $57.59 a barrel, up 27 cents, by 17:55 GMT after rising 5.2% last week, its biggest weekly gain since September 2019. US West Texas Intermediate crude was up 23 cents to $52.28 a barrel, after a 3.4% gain last week.

India's annual coal power output falls for first time in a decade

India's annual electricity generation from coal-fired utilities fell in 2019 for the first time in a decade, government data showed, amid a broader economic slowdown and increased use of renewable energy.

India is the second largest consumer, importer and producer of coal behind China. The world's third largest greenhouse gas emitter consumed nearly 1 billion tonnes of the fuel in 2018/19, with utilities accounting for over three-quarters of the total demand.

SBI Cards gets SEBI's go-ahead to float IPO

SBI Cards and Payment Services, the credit card unit of the country's largest lender State Bank of India (SBI), has received markets regulator SEBI's go-ahead to float an initial public offering. The company, which had filed draft IPO papers in November, obtained "observations" from the Securities and Exchange Board of India (SEBI) on February 11, latest update with the regulator showed.

As per the draft papers, SBI Cards will offer up to 130,526,798 equity shares through offer for sale route. This will include up to 37,293,371 share sale by SBI and up to 93,233,427 shares on offer by Carlyle Group. In addition, the company will also issue fresh equity shares of Rs 500 crore.

Kotak Mahindra Capital, Axis Capital, DSP Merryl Lynch, Nomura Financial Advisory, HSBC Securities and SBI Capital Markets are the book-running lead managers of the issue.

RBI's three-year repo auction sees hefty demand

The Reserve Bank of India's first-ever long term repo operation (LTRO) saw massive demand on Monday with banks bidding for 7.8 times the funds on offer. The central bank had announced that it will auction funds worth a total 1 trillion rupees ($14.03 billion) via long-term repos at a fixed rate of 5.15% which is the current repo rate.

The funds are expected to help lower banks cost of funds and prompt them to lend to customers in an effort to boost consumption and kickstart the flagging economy.

SEBI tightens norms for investment advisory services, unveils 'regulatory sandbox'

Securities and Exchange Board of India (SEBI) today announced a number of steps to regulate financial markets, including asking investment advisors and distributors of financial products to segregate their services.

The regulator approved changes to the law under which investment advisory firms, who advise clients on buying and selling of various financial products such as stocks or mutual funds, will have to segregate their services from distribution.

Payment of AGR dues to bring down fiscal deficit to 3.5% in FY20

Payment of adjusted gross revenue dues of Rs 1.20 lakh crore by telcos will reduce the fiscal deficit for 2019-20 to 3.5 per cent of the GDP from the revised estimate of 3.8 per cent of the GDP, economists at SBI said on Monday. However, one will have to wait till March 16 - the payment deadline - before the picture gets clear, they said.

"The fiscal arithmetic will change significantly post March 16, 2020, (the date till which telecom companies have to pay their AGR dues). If we assume that the government is able to collect Rs 1.20 lakh crore through AGR dues, the fiscal deficit for FY20 will reduce to 3.5 per cent of GDP," the economists at SBI said.

P-note investments hit nearly 11-year low till December-end

Investments in the Indian capital market through participatory notes (P-notes) continue to decline and hit a nearly 11-year low of Rs 64,537 crore till the end of December 2019.

According to Sebi data, the total value of P-note investments in Indian markets -- equity, debt, and derivatives -- slumped to a fresh low of Rs 64,537 crore till December-end after hitting a 13-month low of Rs 69,670 crore at November-end.

FII and DII data

Foreign institutional investors (FIIs) sold shares worth Rs 374.06 crore, while domestic institutional investors (DIIs), too, sold shares of worth Rs 154.25 crore in the Indian equity market on February 17, provisional data available on the NSE showed.

Stock under F&O ban on NSE

NCC security is under the F&O ban for February 18. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.