What changed your markets while you were sleeping


Nifty50 on Tuesday advanced for the fourth consecutive session and formed an indecisive ‘Doji’ candle on the daily chart.

Concerns over a likely US military response to alleged chemical attack in Syria may lift crude oil prices to their highest level since early December 2014. This may not bode well for the domestic market.

Let’s check out what all might influence Dalal Street through the day:

Singapore trading sets stage for positive start

Nifty futures on the Singapore Stock Exchange were trading 21.50 points, or 0.21 per cent, higher at 10,439.50, indicating a positive start for the Nifty50 on Dalal Street.

Nifty50 forms Hanging man pattern

Nifty50 on Tuesday advanced for the fourth consecutive session and formed an indecisive ‘Doji’ candle on the daily chart. While the index upside looks limited in the short term and analysts believe it may be time investors should start considering profit taking before the tide turns. A Doji pattern on the index has earlier been observed in 10,430-10,440 range, which has proved a key resistance zone in the last six weeks.

Asian shares drop in early trade

Asian stocks came under pressure on Thursday as the threat of imminent US military action in Syria rattled investors and sent oil prices to their highest levels since late 2014 on concerns about supply, Reuters reported. MSCI’s broadest index of Asia-Pacific shares outside Japan index slipped 0.05 per cent in early trade while Japan’s Nikkei index dropped 0.4 per cent.

US stocks settle higher
The Dow Jones Industrial Average index declined 218.55 points, or 0.9 per cent, to close at 24,189.45. The S&P500 index fell 14.68 points, or 0.55 per cent, to 2,642.19. The Nasdaq Composite index lost 25.28 points, or 0.36 per cent, to 7,069.03.

SGX to offer fresh Indian derivatives

Singapore Exchange Ltd (SGX) will launch Indian equity-based derivative products in June to give foreign investors continuity in their exposure to the Indian markets, raising tensions with the National Stock Exchange (NSE), which could be impacted by this step.

Sebi to make physical settlement mandatory
The Securities and Exchange Board of India (Sebi) on Wednesday said that physical settlement of stock derivatives will be made mandatory in a phased manner. Currently, equity derivatives are cash settled, which means the difference between the entry price and exit price is either debited or credited in cash.

FPIs buy Rs 362 cr worth of equities

Foreign portfolio investors (FPIs) bought Rs 362.30 crore worth of domestic stocks on Wednesday, provisional data available with BSE suggested. DIIs were net buyers to the tune of Rs 111.82 crore, data suggested.

ADB pegs India FY19 growth at 7.3%

India is expected to be the fastest growing economy in Asia and will reverse two years of declining growth to clock 7.3 per cent rise in GDP in the current fiscal and further accelerate to 7.6% in FY20, the Asian Development Bank said in its forecast for the region.

Carlyle to sell 10% stake in PNBNSE -0.93 % Housing
Global private-equity major Carlyle is seeking to sell a 10 per cent stake in PNB Housing Finance, making more than three times the money it had initially put in and likely boosting the performance of the Asia buyout fund through which it holds the investment in the Indian mortgage lender.

RIL-JM Financial ARC to buy Alok Industries

Reliance Industries is set to acquire Alok Industries with majority of lenders to the bankrupt textile company voting in favour of the resolution plan given by billionaire Mukesh Ambani’s company, two officials familiar with the development said. JM Financial ARC had bid, in partnership with Reliance Industries, for Alok Industries, making an all-cash offer in the range of 15-20% of outstanding loan, they said.