Stock Market Today : Top 10 Big Changes You Need to Know

Stock Market Today : Top 10 Big Changes You Need to Know 

Bulls were back in action after a day of steep fall. 

The benchmark indices recouped more than half of losses and gained a percent on delayed US tariffs on some Chinese goods and hope of measures from government to revive economy.

The BSE Sensex rallied 353.37 points to 37,311.53 while the Nifty50 climbed 103.50 points to 11,029.40 and formed small bullish candle which resembles a Bearish Harami kind of formation of daily scale.

The broader markets also gained momentum with the Nifty Midcap index rising 1 percent and Smallcap index climbing 0.7 percent. All sectoral indices closed in green except Pharma.

According to the pivot charts, key support level is placed at 10,950.6, followed by 10,871.8. If the index starts moving upward, key resistance levels to watch out for are 11,093.2 and 11,157.

Nifty Bank closed at 28,019.20, up 290.10 points on August 14. 

The important pivot level, which will act as crucial support for the index, is placed at 27,794.9, followed by 27,570.6. On the upside, key resistance levels are placed at 28,175.3 and 28,331.4.

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.

1. US Markets

The S&P 500 and the Dow gained ground in a late rally on Thursday as upbeat retail sales data offset recessionary fears amid the simmering US-China trade tensions. 

Wall Street zig-zagged from red to black and back much of the day as investors juggled mixed messages of a strong consumer and dropping US Treasury yields.

The Dow Jones Industrial Average rose 99.97 points, or 0.39%, to 25,579.39, the S&P 500 gained 7 points, or 0.25%, to 2,847.6, and the Nasdaq Composite dropped 7.32 points, or 0.09%, to 7,766.62.

2. Asian Markets

Asian shares were heading for weekly losses on Friday as conflicting messages on the Sino-US trade war only added to worries for the global economy, while talk of aggressive central bank stimulus drove bond yields to fresh lows.

Japan's Nikkei fell 0.5%, making a loss of 1.8% on the week, while commodity-exposed Australia was heading for a weekly drubbing of 2.7%. E-Mini futures for the S&P 500 did rise 0.24%, but were still off 2.2% on the week so far.

3. SGX Nifty

Trends on SGX Nifty indicate a positive opening for the broader index in India, a with 0.37 percent gain or 40 points. 

Nifty futures were trading around 10,937-level on the Singaporean Exchange.

4. Oil gains after strong US retail sales help ease recession worries

Crude oil prices rose on Friday after two days of declines, buoyed following data showing a rise in U.S. retail sales helped ease some concerns about a recession in the world’s biggest economy.

Brent crude was up 31 cents, or 0.5%, at $58.54 a barrel at 0047 GMT, after falling 2.1% on Thursday and 3% the previous day. US crude was up 43 cents, or 0.8%, at $54.90 a barrel, having fallen 1.4% the previous session and 3.3% on Wednesday.

5. India's July trade deficit narrows to $13.43 billion

India's trade deficit in July narrowed to $13.43 billion from $18.63 billion a year ago, the trade ministry said in a statement on August 14, helped by lower oil import bill. Oil imports dived 22.15% to $9.60 billion in July from $12.33 billion in a year-ago period.

Merchandise exports rose 2.25% to $26.33 billion in July compared with a year earlier, while imports were down 10.43% at $39.76 billion, the data showed.

6. Rupee rebounds from 6-month lows, spurts 13 paise to 71.27 vs USD

Rebounding from six-month lows, the rupee advanced 13 paise to close at 71.27 against the US dollar on August 14 amid easing oil prices and gains in the domestic equity market. 

Forex traders said the US delaying new tariffs on Chinese electronics goods as well as encouraging macroeconomic data also boosted investor sentiment.

At the interbank foreign exchange market, the Indian unit opened strong at 71.00 and rose to the day's high of 70.85. It touched an intra-day low of 71.35, before finally ending at 71.27, higher by 13 paise from its previous close.

7. Trump says China talks 'productive'; Beijing vows tariff retaliation

US President Donald Trump said on Thursday that US and Chinese negotiators were holding “productive” trade talks and expected them to meet in September despite US tariffs on over $125 billion worth of Chinese imports taking effect September 1.

“September, the meeting is still on as I understand it, but I think more importantly than September, we’re talking by phone, and we’re having very productive talks,” Trump told reporters in New Jersey.

He said US and Chinese officials had “a very good conversation” earlier this week, before his administration delayed until December 15 tariffs on over $150 billion in Chinese imports, including toys, cell phones, and laptop and tablet computers.

8. Passenger vehicle output down 13.18% in Apr-Jul

Passenger vehicles production in India was down 13.18 percent in April-July this fiscal with top manufacturers such as Maruti Suzuki, Mahindra & Mahindra, Tata Motors, Ford, Toyota and Honda reducing output massively. 

Hyundai Motor India Ltd (HMIL) and Volkswagen India were the only two main manufacturers which saw production grow marginally during the period, according to the latest data by the Society of Indian Automobile Manufacturers (SIAM).

Total Passenger vehicles (PV) production in the April-July period stood at 12,13,281 units as against 13,97,404 units in the same period last fiscal, down 13.18 percent, SIAM said. Market leader Maruti Suzuki India's (MSI) production during the period stood at 5,32,979 units, down 18.06 per cent from the comparable period last fiscal. 

Mahindra & Mahindra (M&M) also curtailed its production by 10.65 per cent at 80,679 units, while that of Ford India stood at 71,348 units, down 25.11 per cent from the year-ago period.

9. EPFO may appoint HSBC AMC, UTI AMC, SBI MF as fund managers

Retirement fund manager EPFO is likely to appoint next week at its trustees' meet asset management firms HSBC AMC, UTI AMC and SBI Mutual Fund as its fund managers for a three-year term. 

The Employees' Provident Fund Organisation's (EPFO) advisory body Finance, Audit and Investment Committee (FAIC) has finalised and recommended the names of three asset management firms -- HSBC AMC, UTI AMC and SBI Mutual Fund for appointment as fund managers of the retirement fund of the body for a three-year term beginning October 1, 2019, a source said.

Now the proposal finalised by the FAIC would be placed before the EPFO's apex decision-making body Central Board of Trustees (CBT) headed by Labour Minister on August 21, 2019 for final approval, the source said.

The body had appointed SBI, ICICI Securities Primary Dealership, Reliance Capital and HSBC AMC for a three-year term, starting April 1, 2015. Thereafter, the EPFO gave many extensions to the five fund managers.

 Now the extended term of the five fund mangers would expire on September 30, 2019.

10. One stock under F&O ban period on NSE

On August 16, DHFL is under F&O ban. Securities under the ban period in the F&O segment include companies in whose security has crossed 95 percent of the market-wide position limit.