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

The Indian stock market is expected to open in the green following positive global cues. Trends on SGX Nifty indicate a positive opening for the index in India with a 42 points gain.

The BSE Sensex was up 276.65 points to close at 38,973.70 on October 5 while the Nifty50 climbed 86.40 points to 11,503.40. According to pivot charts, the key support levels for the Nifty is placed at 11,444.4, followed by 11,385.5. If the index moves up, the key resistance levels to watch out for are 11,570.1 and 11,636.9.

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:

US Markets

U.S. stocks rose sharply on Monday, recovering from declines in the previous session, as investors viewed more fiscal stimulus as likely and after news President Donald Trump will leave the hospital where he is being treated for COVID-19.

The Dow Jones Industrial Average rose 465.83 points, or 1.68%, to 28,148.64, the S&P 500 gained 60.16 points, or 1.80%, to 3,408.6 and the Nasdaq Composite added 257.47 points, or 2.32%, to 11,332.49.

Asian Markets

Asia’s stock markets edged higher on Tuesday, cautiously adding to gains made with an improvement in both U.S. President Donald Trump’s health and prospects for a U.S. stimulus package, while bonds and the dollar nursed losses.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2% to a two-week high. Japan's Nikkei rose 0.4%. South Korea's Kospi rose 0.6% and futures point to a positive open in Hong Kong. Australia's ASX 200 dipped 0.2% in early trade. China's markets remain closed for a holiday.

SGX Nifty

Trends on SGX Nifty indicate a positive opening for the index in India with a 42 points gain. The Nifty futures were trading at 11,566 on the Singaporean Exchange around 07:30 hours IST.

Oil holds gains after Trump's return to White House

Oil prices edged higher in early trade on Tuesday after U.S. President Donald Trump returned to the White House from hospital after being admitted for treatment for COVID-19 last Friday, while another storm brewed in the U.S. Gulf of Mexico.

U.S. West Texas Intermediate (WTI) crude futures rose 2 cents to $39.24 a barrel at 0134 GMT. Brent crude futures rose 8 cents, or 0.2%, to $41.37 a barrel.

Intelligent data is the digital capital: Reliance Industries Chairman Mukesh Ambani

India is becoming a leading power in computer technology and all crucial pieces are in place to make the country a premier digital society, Chairman of Reliance Industries Mukesh Ambani said. Ambani was speaking at the Responsible AI for Social Empowerment 2020 (RAISE 2020) summit, which was inaugurated by Prime Minister Narendra Modi on October 5. The event will discuss cross-sector subjects like Leveraging AI for Pandemic Preparedness, the Impetus that Innovation Places on Digitisation, and Inclusive AI and Partnerships for Successful Innovation.

"Intelligent data is the digital capital," says Ambani. He stresses that data is the new currency of the world in the 4th Industrial Revolution. Ambani believes that digitally empowering 1.3 billion Indians is the way to create faster growth, better opportunities, and better standards of living. The eventual goal is AI made by Indians for all Indians.

US Service sector grows for the 4th consecutive month

The US services sector, where most Americans work, grew for a fourth straight month in September as the country continued to reopen following a spring shutdown. The Institute for Supply Management reported Monday that its index of services activity rose to a reading of 57.8 last month, 0.9 percentage point higher than the August reading of 56.9. Any reading above 50 signifies expansion in services industries such as restaurants, department stores and delivery companies.

SEBI comes out with uniform timeline for listing securities on private placement basis

Markets regulator SEBI on Monday came out with a uniform time period for listing securities, including municipal bonds, issued on private placement basis. The timeline will be applicable for non-convertible redeemable preference shares, debt securities, securitised debt instruments and security receipts and municipal bonds, SEBI said in a circular.

It further said issuer needs to make listing application to stock exchanges and obtain approval from the bourses by T+4 trading day.

42nd GST Council Meet: No decision on borrowing issue to meet compensation gap; next meeting on October 12

The Goods and Services Tax (GST) Council couldn't come to a consensus on the issue of borrowing to meet the compensation shortfall and the Council would again meet on October 12 to deliberate on the same. "This year's compensation cess collected amounting to Rs 20,000 crore will be disbursed to the states tonight," Finance Minister Nirmala Sitharaman said at the 42nd GST Council meeting.

Sitharaman said the GST Council took up the long-pending issue of Integrated Goods and Services Tax (IGST), as earlier there was no formula for devolution of IGST, which had resulted in several anomalies in its distribution.

Office absorption up 64% in third quarter, new completions increase 59%: JLL report

India’s office market witnessed a net absorption of 5.4 million square feet in the quarter ending September 2020, an increase of 64 percent versus the second quarter ending June, according to JLL Research. The third-quarter office rebound growth was led by Bengaluru and Hyderabad, which together accounted for nearly 80 percent of the net absorption in Q3 2020. The heightened activity in Bengaluru indicates a gradual resurgence in take up of spaces coupled with the translation of pent up demand from Q2 this year.

“While we continue to see the impact of the pandemic on various businesses, there is a significant surge in activity across most office markets under consideration. This is seen in gross leasing which more than doubled from the previous quarter at 13.8 million sq ft," said Ramesh Nair, chief executive officer and country head, India, JLL.

FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 236.71 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 471.56 crore in the Indian equity market on October 5, as per provisional data available on the NSE.

1 stock under F&O ban on NSE