A 30-point gain indicates a positive start for the SGX Nifty in India Market.
The SGX Nifty is forecast to open higher by 30-points in Indian market suggesting a positive start for the index.
A correction of 152 points occurred on the Nifty50 on October 21, pulling the index down 456 points. Automobiles, FMCGs, metals, pharmaceuticals, and I.T. stocks pulled down the market. The closing of the Nifty50 was lower than the opening level, forming a bearish candle on the daily charts. As the Nifty Midcap 100 and Smallcap 100 indices fell more than 2 percent each, more selling pressure was seen in the broader markets than benchmarks for the second consecutive session.
Using pivot charts, the critical support levels for the Nifty are 18,164.5 and 18,062.4, respectively. Upward movement of the index should be monitored for 18,413.5 and 18,560.4 as crucial resistance levels.
Moneycontrol will keep you updated on today’s currency and equity markets. Listed below is a list of actual headlines across news platforms that could reverberate in India and internationally:
Markets in the United States
As investors awaited better-than-expected third-quarter earnings from U.S. companies, the S&P 500 and Dow climbed on Wednesday.
A rise of 152.03 points raised the Dow Jones Industrial Average to 35,609.34, the S&P 500 gained 16.56 points to 4,536.19, and the Nasdaq Composite would have dropped 7.41 points, or 0.05 percent, to 15,121.68.
Markets in Asia
As investors monitored shares of developer China Evergrande Group in Hong Kong, Asia-Pacific stocks were mixed on Thursday.
The Nikkei 225 dropped 0.28%, and the Topix index fell 0.21% in Japan. The Kospi fell 0.08% in South Korea.
The Singapore Nifty
SGX Nifty trends indicate that the index will open with a 30-point gain in India. At 7:30 IST, the Singaporean Exchange was trading the Nifty futures at 18,347.
A record-high is set for Bitcoin.
After a solid debut on Tuesday, the first exchange-traded fund to use bitcoin futures gained on Wednesday. Among the top cryptocurrencies, bitcoin was up by 3.30% at $66,364.72, after reaching a record-breaking high of $67,016.50, surging past its previous record of $64,895.22 achieved on April 14 this year.
As a result of a $2.6 billion deal collapse, shares of China Evergrande fell on a resumed trade.
As much as 14% of China Evergrande Group shares collapsed on Thursday after a deal to sell a $2.6 billion stake in its property services unit failed. It is the latest blow to the global markets shaken by China Evergrande’s massive debt problems.
On Wednesday, the company said that Hopson Development Holdings Ltd had not met the “prerequisite to make a general offer” to Evergrande Property Services Group Ltd.
U.S. crude oil stockpiles fall in a tight market, boosting oil prices
As a signal of rising demand, U.S. crude inventories declined sharply at the nation’s largest storage facility on Wednesday, following three years of persistently high levels.
It was the highest price since October 2018 at $85.82 a barrel, with gains of 0.9% or 74 cents.
Paytm Payments Bank faces a Rs 1 crore penalty from the RBI
Paytm Payments Bank Limited (PPBL) has been fined Rs 1 crore by the Reserve Bank of India (RBI) for certain violations, the bank announced on October 20.
The RBI said that it noticed that the information provided by Paytm payments bank for the issuance of its final certificate of authorization did not reflect the factual position.
Information from FIIs and DIIs
As per provisional NSE data, foreign institutional investors (FIIs) sold shares worth Rs 1,843.09 crore during October 20, whereas domestic institutional investors (DIIs) sold shares worth Rs 1,680.73 crore during the same period.
NSE bans F&O stocks
Ten stocks are under the F&O ban for October 21, including Amara Raja Batteries, Escorts, Vodafone Idea, IRCTC, L&T Finance Holdings, NALCO Punjab National Bank, SAIL, Sun T.V. Network, and Tata Power. Under the F&O segment, securities in the ban period include deposits that exceeded 95 percent of the market-wide position limit.
Article Proofread and Edited by Shreedatri Banerjee