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The benchmark closed the November series on a positive note on November 29, with Nifty up more than 7%. The index gained more than one percent to close above 10,850 levels, forming a bullish bull on daily charts.
The rupee earns more than $ 70 per US dollar at close, crude falling below $ 60 per barrel, coherent purchases by FII and dovish remarks by the Federal Reserve are about to end
The Senbad BSE in 30 shares rose 453.46 points or 1.27% to 36,170.41, while the NSE Nifty (50 shares) closed above the 200-day moving average, returning to 129.80 points or 1.21% to 10,858.70.
The index is expected to extend the upward momentum in December with some consolidation, but profits could be recorded in future sessions after a rally in the last four consecutive sessions, experts said. .
According to the Pivot charts, the key support level is set at 10,799.67, followed by 10,799.67. If the index starts to recover, the key resistance levels to monitor are 10,900.37, then 10,942.03.
The Nifty Bank index closed at 26,939.60, up 481.65 points on Thursday. The important pivot level, which will be a crucial support for the index, is placed at 26,676.6, followed by 26,413.6. On the upside, the main resistance levels are at 27,103.2, followed by 27,266. 8.
Stay tuned to Moneycontrol to find out what is happening in the currency and currency markets today. actions.
Wall Street shrinks as technology weighs on banking stocks
Wall Street closed down slightly on Thursday, as stocks in the technology and finance sector collapsed. Earlier gains from the Federal Reserve's minutes showing that the central bank opened the debate on the right moment to suspend interest rate hikes The three leading US indices closed the session down a year ago. fraction of a percent.
The Dow Jones Industrial Average lost 27.59 points, or 0.11%, to 25,338.84%, the S & P 500 lost 5.99 points, or 0.22%, to 2737.8 and the Nasdaq. The composite index fell 18.51 points (7.25%) to 7,273.08.
Asian equities weaken as investors turn to G20 summit
Stock markets eased back early in Asian session as investors waited closely meeting between Chinese and American presidents in Argentina this weekend looking for signs of a relaxation in the trade war.
The largest MSCI index in Asia-Pacific equities outside Japan fell 0.1%. In Japan, the Nikkei was up 0.2%.
SGX Nifty
Trends on SGX Nifty indicate a positive opening of the broader index in India, up 13.5 points or 0.12%. Whimsical futures contracts were trading around 10,929 on the Singapore Stock Exchange.
The Indian economy is expected to grow 7 to 7.4% during fiscal year 19: NCAER
The Indian economy is expected to grow from 7 to 7.4% NCAER said on November 29 that the current economic and fiscal policy think tank announced a report from the National Council for Applied Economic Research (NCAER) that the real gross value added of Agriculture (VAB) would increase by 3% and industry VAB to 7% by 2018-2019.
"The forecast of gross value added (GVA) at basic prices ranges from 7.0% to 7.4%, and these constant price forecasts (2011-2012) are based on the global GDP model of the year. NCAER., "Mid-year review of the NCAER economy said. The growth rate of GDP at market prices is estimated at between 7.4 and 7.7 percent for 2018-2019, the report says.
The rupiah rises to 77 paise, crosses the 70 / USD mark
The rupee jumped to 77 paise to 69.85 for a three-month high US dollar on 29 November , propelled by lower crude oil prices and new inflows of foreign capital. A major relief for energy importers such as India, oil prices slid below the $ 60 mark as investors feared an overabundance of supply.
Brokers have indicated an uptrend in the stock market and a weak greenback that have strengthened the local unit. , which recorded gains for the third day in a row.
On the interbank foreign exchange market (forex), the rupee opened on a solid basis at 70.15 against the US dollar. It then crossed the crucial $ 70 threshold and reached the day's high of $ 69.78 after the dollar sales by exporters.
Oil prices fall on the rise of the US supply
Oil prices plummeted Friday after the United States.
Texas West American (WTI) futures were $ 51.30 per barrel at 00:23 GMT, down 15 cents or 0.3% from their latest settlement . Brent international crude oil futures were still to be traded.
SEBI will soon extend trading hours of commodities
The Indian Securities and Exchange Council (SEBI) could allow the commodity market to open an hour more early at 9 o'clock, instead of 10 o'clock now. It also plans to extend the deadline for closing the commodity market from 4 pm to 9 pm
Agricultural products such as soybean, palm oil and cotton abroad for which price discovery depends on international markets will continue to be traded until 9 pm, while that non-agricultural products will continue.
RBI eases securitization standards for NBFC badets
On November 29, the Reserve Bank of India (RBI) relaxed the rules for non-bank financial corporations (NBFCs) to sell them or secure them Loan booklets, with the aim of reducing the persistent stress in the sector.
NBFCs can now securitize loans of more than five years after keeping them for six months, the Reserve Bank of India said. A banker had previously held these badets for at least a year.
However, the relaxation of the minimum holding period will be allowed when the NBFC retains 20% of the book value of these loans, said the RBI. .
The Fed could change its excess reserve rates again soon: minutes
The US Federal Reserve is about to make a second adjustment in six months to the systems it has uses to control interest rates as they appear Of course, it will further raise rates at its meeting next month.
The minutes published Thursday of the last political meeting of the Fed, November 7 and 8, also showed that the Fed also wondered if its ability to guarantee its key rate is actually transmitted The banking system is better integrated in an environment where banks' excess reserves in the central bank are plentiful or scarce.
RBI increases interest rate to 5% of MSME exporters
MSME sector The Reserve Bank announced Thursday that the improvement of export credits before and after shipment had gone from 3% to 5%. The increase in the subsidy is applicable from 2 November. Exporters receive the subsidy under the "Pre- and Post-Expense Export Credit Equalization Regime" (19659002). "The Indian Government has decided to increase w.e.f. November 2, 2018 3% to 5% interest equalization rate for exports of micro, small and medium enterprises (MSMEs) manufacturers under the interest equalization program for rupee export credits before and after shipping, "said RBI
ColdEX files documents related to an initial public offering of savings to Sebi
ColdEX Ltd., an integrated company in the chain of Food supply and distribution, filed a draft documents with Sebi financial market supervision in order to launch an initial public offering for savings. The IPO includes the issue of new shares of up to 10,000 shares and an offer to sell up to 16,556,408 shares of SABR India Investment Pvt Ltd, according to the draft documents filed with Securities and Exchange Board of India (Sebi). ).
With the contributions of Reuters and other agencies
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