What changed your markets while you were sleeping

What changed your markets while you were sleeping
NEW DELHI: An overnight rout in US stocks following a sharp drop in long-term US treasury yields and concerns over trade war has kept investors on edge globally this morning. Nifty futures on the SGX did not paint a rosy picture for the domestic stocks. Besides, all eyes will be glued to RBI for the fifth bi-monthly policy review.

Let’s take a look at what might matter on Dalal Street all through the day:

Nifty futures indicate weak start

Nifty futures on Singapore Exchange traded 45.50 points, or 0.42 per cent, lower at 10,867 early this morning, indicating a weak start for the domestic equity indices.

SGX snip 2

Tech view: Nifty forms indecisive Doji

The index negated the formation of higher highs and higher lows that it had made in last five sessions and formed an indecisive Doji on the daily chart. This was also the third day when the index could not end higher from its opening level. The index has to hold the crucial support in the 10,777-10,800 range to extend its move towards the 10,929 level, said Chandan Taparia of Motilal Oswal Securities.

Asian markets slide

Asian stocks fell on Wednesday, dragged by Wall Street’s tumble as sharp declines in long-term US Treasury yields and resurgent trade concerns stoked investor worries about global economic growth. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.6 per cent. Japan’s Nikkei fell 1.15 percent and South Korea’s KOSPI shed 1 percent.

US stocks hit by growth woes

US equities were shaken by a flattening Treasury yield curve – a result of a steep fall in longer-dated yields – fanned recession jitters and US-China trade conflict woes that resurfaced after a temporary lull. The Dow retreated 3.1 per cent and the Nasdaq sank 3.8 per cent on Tuesday. Wall Street’s financial shares, which are particularly sensitive to bond market swings, dropped 4.4 per cent.

RBI policy outcome today

The Reserve Bank of India is likely to keep interest rate on hold at 6.5 per cent in its fifth bi-monthly policy review of 2018-19 on Wednesday. The meeting assumes great significance, especially after the recent board meet of the central bank, where the members agreed to restructure small-scale loans and set up a panel to discuss the issue of transfer of surplus reserves to the government.

Oil prices slide

Oil prices fell 1 percent on Wednesday, weighed down by swelling US inventories and a plunge in global stock markets amid concerns over an economic slowdown. US West Texas Intermediate (WTI) crude futures were at $52.61 per barrel at 0128 GMT, down 64 cents, or 1.2 per cent, from their last close.

RBI panel may assess financials of 11 PSBs

The Reserve Bank of India (RBI) later this week would take the first step to explore whether lending curbs imposed on weaker banks — better known as the prompt corrective action — could be partly lifted on some of the state-owned lenders.

IL&FS board draws up asset sale road map

The Uday Kotak-led board of Infrastructure Leasing and Financial Services (IL&FS) is taking a string of steps — from selling stakes in subsidiaries and real estate to reducing wage bills — to raise about ?16,000 crore as it battles to show progress to lenders who want concrete steps towards monetisation, said two persons familiar with the matter.

Sun whistleblower letter may have leaked in early Nov

Some on Dalal Street got a whiff of corporate governance concerns in Sun Pharmaceutical at least three weeks ago before the issue was reported in the media. Select extracts of the whistleblower’s letter, which was supposedly sent to the capital market regulator earlier, were doing the rounds on Whatsapp groups comprising foreign fund managers in first week of November, said two people privy to the development. ET reviewed the posts on one such Whatsapp groups comprising officials of offshore funds.

FIIs & DIIs net sellers on Tuesday

The FIIs sold equities worth Rs 55.89 crore while the DIIs offloaded shares worth Rs 521.38 crore in Tuesday’s session, data available with NSE showed

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