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Wednesday, 6 September 2017

16 things you should know | The GRS Solution

The GRS Solution | What changed for the market while you were sleeping? :-

The Nifty50 reversed losses from the previous session and closed above its crucial resistance level of 9,950 on Tuesday. The Nifty opened at 9933 and rose to an intraday high of 9963. It slipped to its crucial support level of 9901 before closing the day at 9952, up 39 points.
The late rally helped the 30-share BSE Sensex gain 107.30 points at 31,809.55. The 50-share NSE Nifty rose 39.35 points to 9,952.20, driven by oil, private banking & financials and cement stocks.
Indian market will react to Wall Street but growing concerns over another test by North Korea is keeping investors across the globe on the edge.
The Nifty closed 39 points higher at 9,952 on Tuesday. According to Pivot charts, the key support level is placed at 9,914, followed by 9,876. If the index starts to move higher, key resistance levels to watch out are 9,976 and 10,000.
The Nifty Bank closed 91 points higher at 24,328.30 on Tuesday. Important Pivot level, which will act as crucial support for the index, is placed at 24,260, followed by 24,192. On the upside, key resistance levels are 24,392, followed by 24,456.
Stay tuned to Moneycontrol to find out what happens in currency and equity markets today. We have collated a list of important headlines from across news agencies:
Fresh North Korea tensions hit Wall Street
US stocks sank yesterday, with the S&P 500 stumbling to its biggest single-day loss in about three weeks, as investors weighed fresh tensions with North Korea.
The Dow Jones Industrial Average fell 234.25 points, or 1.07 percent, to 21,753.31, the S&P 500 lost 18.7 points, or 0.76 percent, to 2,457.85 and the Nasdaq Composite dropped 59.76 points, or 0.93 percent, to 6,375.57, said a report by Reuters.
Asia stocks down gripped by risk aversion
Asian stocks slip today morning while the dollar was on the defensive with tensions in the Korean Peninsula showing little signs of abating. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.15 percent. Japan's Nikkei shed 0.55 percent and Australian stocks lost 0.3 percent. South Korea's KOSPI was down 0.2 percent and on track for its fifth straight day of losses, a Reuters report said.
SGX Nifty
The Nifty50 futures on the Singapore Stock Exchange were trading 27 points lower at 9,947 indicating a flat opening for the domestic market.
Govt deregisters over 2 lakh firms in crackdown on shell companies
The government on Tuesday said that names of over 2.09 lakh firms have been struck off from register of companies for failing to comply with regulatory requirements and action has been initiated to restrict operations of their bank accounts.
Continuing its crackdown on shell companies which are allegedly used as conduits for illicit fund flows and tax evasion, the government said the directors of deregistered firms would not be able to operate the bank accounts till these entities are legally restored.
Infosys delays Q2 results announcement to October 24
Infosys will announce its quarter and half-year ended September 30, 2017 financial results on October 24, the company said. This will be a departure from the tradition where the IT giant is among the first companies to announce results in the second week of the month. The board of directors will meet on October 23-24, 2017 and will also consider payment of an interim dividend.
Dixon Technologies & Bharat Road Network IPO today
Dixon Technologies (India) expects to raise Rs 600 crore from its IPO today and plans to spend the proceeds on capacity expansion and debt repayment. It  plans to offer about 33,93,425 equity shares of face value of Rs 10 each amounting to Rs 599.27 crore on the upper price band.
Meanwhile, it has raised Rs179.79 crore by selling 10.18 lakh shares to institutional investors.
Bharat Road Network to open its IPO for subscription today aiming to garner around Rs 600 crore. At least 75 percent of the issue will be allotted on a proportionate basis to qualified institutional buyers, of which the company may allocate up to 60 percent of the QIB portion to anchor investors, on a discretionary basis.
Vladimir Putin warns of 'global catastrophe' over North Korea impasse

Russian President Vladimir Putin warned of a global catastrophe unless a diplomatic solution is reached over North Korea, but rejected US calls for more sanctions as useless, widening a split among major powers over how to rein in Pyongyang.

Putin made clear that Russia was opposed to further interdictions but called for dialogue and warned against other actions that could escalate the crisis, according to a PTI report.
GDR manipulation: Sebi cracks down on foreign, domestic firms
Sebi yesterday barred 19 domestic and foreign entities from securities markets for manipulation in issuances of global depository receipts and warned several others including FIIs. The regulator has imposed a 10-year ban on K Sera Sera and Asahi Infrastructure and Projects, which figured among the six companies whose GDR issuances were manipulated, while at least 26 entities including European American Investment Bank AG (Euram) have been warned that all their future dealings in Indian markets should be strict as per regulations.
ICICI Lombard gets Sebi nod for Rs 6,000 crore IPO
ICICI Lombard General Insurance Company has got capital markets regulator Sebi's go-ahead for its estimated Rs 6,000 crore initial public offer, which could be the first by a general insurer in the country. ICICI Lombard is a joint venture between ICICI Bank and Canada-based Fairfax Financial Holdings Ltd.
BRICS leaders want to deepen political, security cooperation: Xi Jinping
BRICS leaders believe that it is in the common interest of the member countries to deepen political and security cooperation with the world undergoing profound and complex changes, Chinese President said adding that the leaders have reached extensive consensus on the international situation, global governance and cooperation among the five-emerging economies.
BRICS must play a constructive role and uphold basic norms governing international relations and international fairness and justice, he said.
Banks start moving on NPA accounts in RBI’s second defaulter list
Banks have started work on debt resolution plans or are in the process of initiating insolvency proceedings against defaulters named in the central bank’s second list well in advance of the December 13 deadline set by the regulator, three senior bankers said, according to a report by livemint.com.
Fed policymakers signal caution on inflation, rate hikes
The Federal Reserve should delay raising US interest rates until it is confident inflation will rebound, an influential policymaker said yesterday in the clearest signal yet the Fed is getting more dovish in the face of weak data. Another policymaker blamed the Fed’s rate hikes to date not only for weak inflation, Reuters reported.
Goldman sees oil gloom clearing as demand rises
Reconstruction in the aftermath of Hurricane Harvey could prove positive for the oil market in a few months, said Goldman Sachs. Curtailed processing of natural gas liquids could over time prevent and possibly reverse the recovery in US shale production. Increased activity in the wake of the storm could boost oil demand in the long run as people rebuild houses and make new purchases, according to a report by Bloomberg.
Rail Vikas Nigam to flag off stake sale in five PSUs
The Centre plans to offload as much as 25 percent of its stake in subsidiaries of the Railways even in the face of stiff opposition to any stake dilution in entities owned by the transport giant. The Department of Investment and Public Asset Management has already begun scouting for a registrar to manage a proposed 25 percent disinvestment in Rail Vikas Nigam. September 21 is the deadline for submission of applications, reported The Hindu Business Line.
Rupee ends lower by 7 paise on global woes
The rupee extended its bearish trend for the third straight day and ended lower by 7 paise at 64.12 against the US dollar on sustained demand for the greenback from importers and corporates. The domestic currency was unable to gain any traction and continued to trade under pressure despite US dollar being weaker against key rivals overseas.
Gold succumbs to profit-taking after touching 1-year high
Gold eased on Tuesday as investors booked profits after the previous session's rise to a one-year high, though prices remain underpinned by safe-haven demand because of continued concern over North Korea's nuclear tests, said a Reuters report.
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