What changed your markets while you were sleeping

NEW DELHI: Domestic equity indices are likely to open on a positive note on Tuesday following an overnight rise in US stocks and a further drop in crude oil prices. However, a 67 paise dive in the rupee on Monday could add volatility to the market.

Let's check out what might matter to Dalal Street on Tuesday:

Singapore trading sets stage for positive start
Nifty futures on the Singapore Exchange were trading 37 points, or 0.35 per cent, higher at 10,579, indicating a positive start for the Nifty50.


Tech view: Nifty forms Hammer candle
The 50-pack index needs to hold above 10,450 to continue the ongoing positive momentum, say analysts. “The current chart pattern is signalling a trended upmove in the underlying and downward corrections in between have not damaged the uptrend status so far,” Nagaraj Shetti, Technical Research Analyst at HDFC Securities.

Asian shares tick higher
Asian shares ticked up in early Tuesday trade, supported by Wall Street gains although sentiment was tempered ahead of the U.S. midterm elections, the first major electoral test of President Donald Trump’s big tax cuts and hostile trade policies, Reuters reported. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.15 per cent while Japan's Nikkei gained 0.5 per cent, a day after both fell more than one percent.

Oil prices drop on slowdown worries
Oil prices dipped on Tuesday as concerns that an economic slowdown may curb fuel demand growth overshadowed the reintroduction of sanctions on Iran, Reuters reported. WTI crude futures were at $62.93 a barrel, down 17 cents, or 0.3 per cent, from their last settlement. Brent had yet to trade, with liquidity of the international benchmark expected to be low on Tuesday due to a holiday in Asia’s oil trading hub of Singapore.

China asks MFs to support listed firms
China’s securities regulator has urged mutual fund houses to support cash-strapped listed firms, and help mitigate risks associated with pledged share financing, the official China Securities Journal reported on Tuesday.

US stocks end higher
The Dow Jones Industrial Average index rose 190.87 points, or 0.76 per cent, to 25,461.7, the S&P500 index gained 15.25 points, or 0.56 percent, to 2,738.31 and the Nasdaq Composite dropped 28.14 points, or 0.38 percent, to 7,328.85, Reuters reported.

Elections in US today
Tuesday’s elections, widely seen as a referendum on Trump, have been portrayed by both Republicans and Democrats as critical for the direction of the country, Reuters reported. At stake is control of both chambers of Congress, and with it the ability to block or promote Trump’s agenda, as well as 36 governor’s offices.

Rupee nosedives 67 paise
After two sessions of massive gains, the Indian rupee Monday again tumbled by 67 paise to close at 73.12 against the US dollar on increased demand for the American currency from importers and unabated foreign fund outflows.

PNB MetLife gets Sebi nod for IPO
PNB MetLife India Insurance Company has received market regulator Sebi’s go-ahead to float an initial public offer (IPO). According to the draft papers, the company’s public issue will put up 49,58,98,076 shares for sale, which equals 24.64% stake dilution.

Govt-RBI tussle continues
The government will insist, through its nominees, that a resolution be passed by the board of the Reserve Bank of India (RBI) on issues it has raised and a firm decision be reached at a meeting on November 19, said people with knowledge of the matter. The government does not want these matters to be brushed aside by being referred to a committee as has been the case of late, they said.

Key Q2 earnings today
Voltas, Manappuram Finance,Aditya Birla Capital, Graphite India, Dr Lal PathLabs, Balmer Lawrie Investments and Noida Toll bridge Company are among the companies, which will announce their quarterly results during the day.


DIIs sell Rs 622 cr worth of equities
Foreign portfolio investors (FPIs) bought Rs 12 crore worth of domestic stocks on Tuesday, provisional data available with BSE suggested. DIIs were net sellers to the tune of Rs 622 crore, data suggested.