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

The Indian stock market is expected to open in the red following weak global cues. Trends on SGX Nifty indicate a negative opening for the index in India with a 43 points loss.

The BSE Sensex climbed 448.62 points or 1.12 percent to close at 40,431.60 on October 19 while the Nifty50 rose 110.50 points or 0.94 percent to 11,873. According to pivot charts, the key support levels for the Nifty is placed at 11,829.53, followed by 11,786.07. If the index moves up, the key resistance levels to watch out for are 11,907.33 and 11,941.67.

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

Wall Street’s main indexes closed lower on Monday as Washington lawmakers still appeared to struggle to reach an agreement on coronavirus stimulus ahead of a Tuesday deadline that would make a relief package possible ahead of the November 3 elections.

The Dow Jones Industrial Average fell 410.89 points, or 1.44%, to 28,195.42, the S&P 500 lost 56.89 points, or 1.63%, to 3,426.92 and the Nasdaq Composite dropped 192.67 points, or 1.65%, to 11,478.88.

Asian Markets

Asian stocks came under pressure on Tuesday as a deadline for U.S. lawmakers to pass an economic stimulus bill approached and record daily coronavirus infections in Europe ignited concerns about more severe lockdowns.

Japan’s Nikkei 225 futures slipped 0.4%. Hong Kong’s Hang Seng index futures were down 0.59%.

SGX Nifty

Trends on SGX Nifty indicate a negative opening for the index in India with a 43 points loss. The Nifty futures were trading at 11,865 on the Singaporean Exchange around 07:30 hours IST.

Oil dips after OPEC+ meeting as Libyan supply boost weighs

Oil edged lower on Monday, weighed by concerns over surging coronavirus cases globally and by Libya’s plan to boost output, but hopes for a U.S. fiscal package lent some support.

Brent crude futures fell 31 cents to settle at $42.62 a barrel. U.S. West Texas Intermediate (WTI) crude futures fell 5 cents to settle at $40.83 a barrel.

SEBI comes out with guidelines for utilisation of fund created for farmers, FPOs

Markets regulator SEBI on Monday allowed exchanges dealing with agri-commodity derivatives to utilise the fund created for farmers and FPOs for reimbursement of mandi tax and charges incurred by them on storage and transportation of goods.

The Securities and Exchange Board of India (SEBI) in 2019 asked the exchanges to create a fund for farmers and Farmer Producer Organisations (FPOs) in which the regulatory fee forgone by the regulator would be deposited.

India must not neglect bank recap despite pandemic: Viral Acharya

India is neglecting bank recapitalisation as it focuses on debt moratoriums and interest waivers for borrowers amid the COVID-19 pandemic, a former central bank official told Reuters on Monday. Restoring banks' capital is critical for aiding a meaningful recovery, but there has been little focus on the matter, former RBI Deputy Governor Viral Acharya said.

"This lack of focus is tantamount to kicking the can down the road and jettisoning financial stability for short-term gains," said Acharya, who recently wrote a book titled the "Quest for Restoring Financial Stability in India".

Finance Minister Sitharaman pushes large CPSEs to meet 75% of FY21 capex target by December

Finance Minister Nirmala Sitharaman on Monday exhorted large central public sector enterprises (CPSEs) to achieve by December 75 percent of their planned capital expenditure (capex) target for 2020-21, to support economic growth hit by the COVID-19 crisis. While reviewing the performance of CPSEs, Sitharaman said capex by CPSEs is a critical driver of economic growth and needs to be scaled up for the financial year 2020-21 and 2021-22.

The finance minister asked the concerned secretaries to closely monitor the performance of CPSEs in order to ensure the capital expenditure to the tune of 75 percent of the capital outlay by the end of the third quarter of 2020-21 and make appropriate plan for it.

India needs to export 6 million tonnes sugar as output rebounds: Trade body

India needs to export 6 million tonnes (MT) of sugar in 2020/21 marketing year started on October 1 as the production is set to jump on higher area, a leading trade body said on Monday. The world's biggest consumer of the sweetener is likely to produce 31MT of sugar in the new season, nearly 13 percent more than a year ago, the Indian Sugar Mills Association (ISMA) said in a statement.

India started the new marketing year with carry forward stocks of 10.64MT, lower than the 14.58MT a year ago, the ISMA said.

Kalyan Jewellers gets SEBI's go ahead to float Rs 1,750 crore IPO

Kalyan Jewellers India Ltd has received capital markets regulator SEBI’s go ahead to raise an estimated Rs 1,750 crore through an initial share-sale. The IPO comprises issuance of fresh equity aggregating up to Rs 1,000 crore and an offer for sale (OFS) worth Rs 750 crore, according to the Draft Red Herring Prospectus (DRHP).

Axis Capital, Citigroup Global Markets India, ICICI Securities and SBI Capital Markets are the global co-ordinators and book running lead managers to the offer.

Results on October 20

Hindustan Unilever, Larsen & Toubro Infotech, Bombay Dyeing & Manufacturing, CCL Products, CRISIL, Continental Securities, DCM Shriram, Digicontent, Fischer Chemic, Gujarat Ambuja Exports, Granules India, Hindustan Zinc, Indo Cotspin, Indian Energy Exchange, JSW Ispat Special Products, Kajaria Ceramics, Ashika Credit Capital, Mahindra CIE Automotive, Maharashtra Scooters, Oriental Aromatics, Punjab Alkalies & Chemicals, Ramkrishna Forgings, Sayaji Hotels, Shiva Cement, Simplex Mills Company, Simplex Papers, Simplex Realty, Transglobe Foods and Websol Energy System will announce quarterly earnings on October 20.

FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 1,656.78 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 1,621.73 crore in the Indian equity market on October 19, as per provisional data available on the NSE.

12 stocks under F&O ban on NSE

BHEL, Canara Bank, Escorts, Indiabulls Housing Finance, Vodafone Idea, Jindal Steel & Power, Mindtree, NALCO, Punjab National Bank, PVR, SAIL and Tata Motors are under the F&O ban for October 20. 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.