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After a correction related to the volatility of the beginning of trade, the Nifty 50 managed to strengthen and to exceed the crucial level of 10,600 on November 26th. This is a marked reversal due to a sharp decline in crude oil prices and firm indexes after a rate of 1.5%.
The index formed a bullish candle, which looks like a "Hammer" type pattern on daily charts.
The Nifty NSE (50 shares) closed at 101.80 points or 0.97 percent higher at 10,628.60 while the 30 BSE Senbad gained 373.06 points or 1.07% at 35,354, 08.
The market recorded a clever recovery but remained close to the targets and should hold for a few weeks, experts said, adding that the recovery was only possible if the Nifty crossed 10,774.
According to PivotTables, the key support level is 10 533, followed by 10 437.4. If the index starts to recover, the key resistance levels to be monitored are 10,681, then 10,733.4
. The Nifty Bank index closed at 10,733.4, up 366.15 points on Monday. The important pivot level, which will be a crucial support for the index, is placed at 26,128.26, followed by 25,890.93. In contrast, the main resistance levels are 26,499.76, followed by 26,633.93.
Stay tuned to Moneycontrol to find out what is happening in the currency and stock markets today.
Wall Street rallies as Cyber Monday shoppers open a session
Wall Street bounced back Monday after bargain hunters came back strong after the sale of the last week. and expectations of a wave of cyber-holiday spending have pushed up the actions of retailers. All three indexes recorded their largest percentage increase in almost three weeks.
The Dow Jones Industrial Average rose 354.29 points, or 1.46%, to 24,640.24, the S & P 500 gained 40.89 points, or 1.55%, to 2,673 points. , 45, and the added Nasdaq Composite. 142.87 points, or 2.06%, at 7,081.85.
Asian markets are flat after Trump's tariff threats
Asian stocks fought on Tuesday to prolong their rebound after US President Donald Trump seemed to wipe out the hopes of the US. a commercial truce with China, appeasing risk appetite in the region
The Japanese Nikkei managed to grow 0.4%, but the broadest index of MSCI, composed of Shares of the Asia-Pacific out of Japan, was almost unchanged. E-Mini futures for the S & P 500 declined 0.35% after rising sharply overnight.
SGX Nifty
The evolution of SGX Nifty indicates a negative opening of the broader index in India, down 59.5 points or 0.56 percent. The nifty futures traded at about 10,887 on the Singapore Stock Exchange.
GDP growth in the second quarter is expected to slow to 7.5-7.6%: Report
GDP growth in September is expected to slow to 7.5 to 7, 6% in the previous three months, mainly due to slowing rural demand, according to a SBI research report. GDP growth in constant prices (2011-2012) was 8.2% during the quarter from April to June 2018-1920.
The Central Bureau of Statistics will publish estimates of GDP growth for July-September on November 30th. The "Ecowrap SBI" report indicates that the SBI composite leading indicator, a basket of 21 leading indicators for the September quarter of the current fiscal year, shows a marginal downward trend.
RBI Reduces Compulsory Coverage of Foreign Hedging Operations Borrowing from 100% to 70%
The Reserve Bank of India has reduced the mandatory coverage requirement for borrowers raising funds abroad from 70% to 70%.
The circular fits into the context of liquidity shortage in the country's non-bank financial corporations (NBFC), which can be helped by reducing their hedging costs during an overseas fundraiser in a certain stability of the movement of the rupee.
These eligible borrowers are those using the ECB or Track I final commercial borrowings with an average maturity of 3 to 5 years.
"After a review of the existing provisions, it was decided, in consultation with the Indian Government, to reduce the mandatory coverage coverage from 100 to 70% for BCE" in its notification.
Cautious oil markets after recent bombardments
Oil markets were cautiously opened on Tuesday, with many traders hesitating to have it take on significant new positions in anticipation of the G20 meeting. Argentina this weekend and the OPEC meeting in Austria next week.
West West Intermediate (WTI) crude oil futures were $ 51.52 per barrel at 0011 GMT, down 11 cents or 0.2 per cent from their latest settlement. Brent international crude oil futures had not been traded yet, but they had barely $ 60 per barrel at the end of the day before prices fell on Friday.
SEBI lays out guidelines for alternative investment funds within the IFC . 19659002] The Market Regulator has issued detailed guidelines for the establishment of Alternative Investment Funds in International Financial Services Centers relating to registration, compliance requirements and restrictions.
To be registered as an Alternative Investment Fund (AIF), any fund created or established under the IFSC in the form of a trust or a corporation or partnership limited liability or a legal person may apply for registration under the regulations. An alternative fund operating within the IFSC is authorized to make investments, said the Securities and Exchange Board of India in a circular.
SEBI Issues 25% Borrowing Framework Through High-Capital Corporate Bonds
In-depth In the corporate bond market, on November 26th, SEBI published a framework that will require a large company to raise 25% of loans borrowing this way from the next fiscal year. In the event that a large company is unable to comply with this requirement, SEBI has stated that these entities would be required to provide an explanation of this shortfall to the stock exchanges in the prescribed manner.
For entities that have had their fiscal year from April to March, the framework will come into effect on April 1, 2019, and for corporations following the calendar year, the guidelines will come into effect on January 1, 2019. 2020.
"A listed entity … will be considered a large corporation and such a company will incur at least 25% of its additional borrowings during the fiscal year … by way of. issue of debt, "Sebi said in a circular.
Inventia, Metropolis Healthcare and Xelpmoc Design Celebrate the IPO of SEBI
Three Companies – Inventia Healthcare, Metropolis Healthcare and Xelpmoc Design and Tech – Have Received the Authorization SEIB, the market regulator, to launch initial public offerings. As a result, the total number of companies approved by the Securities and Exchange Board of India (SEBI) for the launch of the IPO is 73% this year.
The IPO project of Inventia Healthcare includes the issuance of new shares worth being won. at Rs 125 crore, in addition, an offer of sale up to 31.64 lakh scripts by promoters and other shareholders. In the offer to sell, the developers (Janak Shah and Maya Shah) and the Jacob Ballas private equity fund will sell shares.
NSE Launches Weekly Options on the USD-INR December 3 [19659002] The National Stock Exchange (NSE) announced that it had received SEBI's approval of 39, introduce weekly derivative contracts on the USD-INR, which it will launch as of 3 December.
Weekly derivative contracts will help participants limit the cost of time-related premiums.
NSE Director General and Chief Executive Officer Vikram Limaye said in a statement that 4 titles were banned by NSE
. The F & O sector includes companies in which the stock has exceeded 95% of the market position limit.
For the date of November 27, 2018, Adani Enterprises, Adani Power, DHFL and Jet Airways are on this list.
With entries from Reuters & othe r agencies
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