10 things to know before you make your opening trade on Thursday

Weak global cues pushed benchmark indices lower for the second consecutive session on Wednesday. Sensex slipped over 250 points and Nifty50 closed above the 17700-mark.   

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“Nifty continues to remain in a medium-term uptrend for targets of 18500 and above; Expect positive activity to continue for the initial part of the Oct series Immediate support is seen at 17400 with buying on dips advisable,” Sahaj Agrawal, Head of Research- Derivatives at Kotak Securities.  

He added, select stocks in the Auto and BFSI space are showing positive build-up while Metal stocks are expected to consolidate before any positive reversal.  

Stay tuned to Zeebiz.com to find out what could impact your trade today. We have collated a list of top 10 news points which could impact markets, companies, or economy:     

Global Markets:  

The Wall Street ended firmer on Wednesday (September 29) in a partial rebound from the previous day`s broad sell-off, with remarks from U.S. Federal Reserve Chairman Jerome Powell and the ongoing debt ceiling debate keeping a lid on gains. 

The S&P 500 index and the Dow Jones Industrial Average advanced, but the Nasdaq Composite closed lower as Treasury yields halted their ascent. Defensive sectors took the lead as investors sought stability in the volatile market. The Dow Jones Industrial Average rose 90.73 points, or 0.26%, to 34,390.72, the S&P 500 gained 6.83 points, or 0.16%, to 4,359.46 and the Nasdaq Composite dropped 34.24 points, or 0.24%, to 14,512.44 

Still, all three remain on course to post monthly declines, with the bellwether S&P 500 snapping a seven-month winning streak, said a Reuters report.    

Asian Markets:  

Major Asian Markets were trading in the red in early trade on Thursday morning. SGX Nifty was trading flat at 17,688.80, down 3.50 points after opening at 17,692.20 on Thursday at 7.20 am. Similarly, around the same time,  Japanese index Nikkei was trading negative at 29,375.50, down 168.79 points or (0.57%).   

SGX Nifty:  

Trends on SGX Nifty in the early tarde indicate negative opening for the index in India. The Nifty futures were trading at 17,655.00, up 50.00 points or 0.28% on the Singaporean Exchange around 07:20 hours IST  

Evergrande set to miss second payment:  

At least some of China Evergrande's offshore bondholders had not received a due coupon payment by the close of Asia business on Wednesday, sources said, although the cash-strapped developer reached a $1.5 billion deal to settle debt with a Chinese bank.  

With liabilities of $305 billion, Evergrande has sparked concerns its woes could spread through China's financial system and reverberate around the world - a worry that has eased with the Chinese central bank vowing to protect homebuyer interest.  

NSE co-location case: Sebi penalises trading member  

Capital markets regulator Sebi on Wednesday imposed a penalty of Rs 3 lakh on Master Capital Services Ltd for flouting norms with respect to using National Stock Exchange's co-location facility.  

In its order, Sebi said the broker has connected to the secondary server connection roughly on 81 per cent or 256 days out of total around 317 trading days in the F&O segment during the period 2013 and 2014 (till April 7, 2014) even after emails from NSE.  

Therefore, Master Capital Services Ltd (MCSL) has violated the provisions of the NSE bye-law and code of conduct specified under stock brokers' rule, it added.  

Rupee falls 8 paise to close:  

The rupee fell by 8 paise to close at 74.14 against the US dollar on Wednesday amid a lacklustre trend in domestic equities and strengthening of the American currency in the overseas market.  

At the interbank foreign exchange market, the local currency opened at 74.18 and witnessed an intra-day high of 74.08 and a low of 74.26 against the US dollar in day trade.  

The local unit finally settled at 74.14 a dollar, down 8 paise over its previous close. On Tuesday, the rupee had settled at 74.06 against the greenback.  

Dollar ascends to fresh 10-1/2-month peak  

The dollar surged on Wednesday to a fresh 10-1/2-month peak against rival currencies, boosted by increased expectations for a reduction in the U.S. Federal Reserve's asset purchases by the end of the year and an interest rate hike, possibly in late 2022.  

The greenback also fared well despite an impasse in Washington over the U.S. debt ceiling that threatened to plunge the government into a shutdown.  

Aditya Birla AMC IPO subscribed 56% on day 1:  

The initial public offer of Aditya Birla Sun Life AMC Limited received 56 per cent the subscription on the first day on Wednesday.  

The initial share sale received bids for 1,54,80,400 shares against 2,77,99,200 shares on offer, according to data available with the NSE.  

The Retail Individual Investors (RIIs) category was fully subscribed (1.09 times) and non-institutional investors 14 per cent.  

RBI removes IOB from PCA framework:  

The Reserve Bank on Wednesday removed Indian Overseas Bank from Prompt Corrective Action Framework (PCAF), following improvement in various parameters and a written commitment that the state-owned lender will comply with the minimum capital norms.  

On a review of the performance of the IOB, the Board for Financial Supervision on the basis of the published financial results for 2020-21 found that the bank was not in breach of the PCA parameter, the RBI said in a statement.  

FII & DII Data:  

Foreign portfolio investors (FPIs) remained net sellers for Rs 1957.7 cr in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 161.45 crore, provisional data showed on the NSE.  

Stocks under F&O ban on NSE  

Only one stock – Sun TV is under the F&O ban. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.   

(With inputs from PTI, Reuters, and other agencies)  

(Disclaimer: The views/suggestions/advices expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)