Market Movers: 10 things to know before you make your opening trade today

The Indian markets ended the day’s session on a positive note on Monday with the S&P BSE Sensex gaining around 500 points, while the Nifty50 closed above the 18050-level.

Vinod Nair, Head of Research at Geojit Financial Services said, “Despite a muted opening, domestic indices erased its early losses boosted by favourable macros like fuel rate tax-cut, improved PMI numbers and higher festive season sales numbers.”

He added, “On the global front, the Fed policy announcement was in line with the market view to start with gradual tapering which boosted the sentiments of emerging markets. Additionally, investors remained a bit cautious ahead of the US consumer data, to be released later this week."

Ranganathan, Head of Research at LKP securities mentioned, “In a volatile session of trade, the Bulls emerged strong with several stocks across Cement, Consumer Durables & PSU names witnessing good buying interest from Investors.”

He added, “The broader markets recovered strongly in Afternoon Trade with IT stocks, Exchanges, Gold Loan companies seeing accumulation. Both the Midcap and Small-Cap Indices saw hectic activity with several stocks indicating moves of a good festive season.”

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 the economy:  

Global Markets

World shares hit new highs on Monday as investors welcomed the passage of a U.S. infrastructure spending bill, while crude oil gained on the outlook for energy demand in an expansive global economy.

The benchmark S&P 500 index and the Nasdaq extended their run of all-time closing highs to eight straight sessions, while the blue-chip Dow notched its second consecutive record closing high.

The pan-European STOXX 600 index rose 0.06%.

Asian Markets

The Nikkei 225 in Japan on Tuesday opened with a positive bias and was trading higher by 0.15 per cent while the Hang Seng Index was trading higher by 0.40 per cent around 7:30 AM IST.

SGX Nifty

SGX Nifty opened in the red and lost nearly 0.25% around 7.30 AM IST.

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Oil lifted by US spending and plans to address prices

Oil prices rose on Monday as positive signs for global economic growth supported the outlook for energy demand and the United States said it was weighing options to address high prices.

Brent crude was up 65 cents, or 0.79%, at $83.39 a barrel by 1443 GMT, having lost nearly 2% last week. U.S. oil gained 56 cents, or 0.69%, to $81.83 after a 3% fall last week. Both contracts rose by more than $1 a barrel in early trade.

U.S. President Joe Biden on Saturday welcomed congressional passage of a long-delayed $1 trillion infrastructure bill, which could boost economic growth and demand for fuel.

Banks issue 31.67 cr RuPay debit cards to PMJDY account holders

Banks have issued 31.67 crore RuPay debit cards with free accident insurance cover to Pradhan Mantri Jan Dhan Yojana (PMJDY) account holders, the Finance Ministry said on Monday.

Bank accounts opened under PMJDY have swelled to 43.76 crore since its launch in August 2014.

"Progressing ahead with a mission to provide universal access to banking facilities for every adult citizen, 31.67 crore #RuPay debit cards with inbuilt accident insurance coverage issued to #PMJanDhan account holders till October 21," Department of Financial Services under Ministry of Finance said in a tweet.

The Jan Dhan Yojana, which was announced by Prime Minister Narendra Modi in his Independence Day address in 2014, was launched on August 28 in the same year.

Rupee gains 43 Paise 

The rupee gained 43 paise to close at 74.03 (provisional) against the US dollar on Monday as positive domestic equities and a dovish outlook of US Federal Reserve supported the local unit.

At the interbank forex market, the domestic unit opened at 74.25 against the greenback and witnessed an intra-day high of 73.98 and a low of 74.25 during the day's trade. It finally ended at 74.03 a dollar.

On Thursday, the rupee had settled at 74.46 against the US dollar. The forex market was closed on Friday for 'Diwali Balipratipada'. 

FPIs can invest in debt securities issued by InvITs, REITS: RBI

The Reserve Bank on Monday said FPIs have been permitted to invest in debt securities issued by Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs) by Foreign Portfolio Investors (FPIs).

Necessary amendments to Foreign Exchange Management (Debt Instruments) Regulations, 2019 were earlier notified in October.

An announcement was made in the Union Budget 2021-22 that debt financing of InvITs and REITs by Foreign Portfolio Investors (FPIs) will be enabled by making suitable amendments in the relevant legislations.

GDP likely to grow at 10-10.5% in FY2022: Report

Domestic rating agency Brickwork Ratings on Monday revised its growth estimate for the country's gross domestic product (GDP) to 10-10.5 per cent in the current financial year from an earlier expectation of a 9 per cent growth.

Many economic growth indicators are suggesting a faster-than-expected revival in economic activities, it said. "We revise our GDP estimates for FY22 to 10-10.5 per cent from 9 per cent estimated earlier," the credit rating agency said in a report released on Monday.

It expects the GDP growth for Q2 FY22 to be at 8.3 per cent (year-on-year), on the back of a 7.4 per cent contraction in Q2FY21. The country's GDP grew at 20.1 per cent in the first quarter of fiscal 2022.

Sebi allows FPIs to write off debt securities

Markets regulator Sebi on Monday allowed foreign portfolio investors (FPIs) to write off all debt securities that they are unable to sell.

This will be applicable only to such FPIs who wish to surrender their registration, the Securities and Exchange Board of India (Sebi) said in a circular.

"In view of the requests received from various stakeholders, it has now been decided to permit the FPIs to also write off all debt securities in their beneficiary account which they are unable to sell for any reason.

"This shall be applicable only to such FPIs who wish to surrender their registration," Sebi said.

FII & DII Data

Foreign portfolio investors (FPIs) remained net sellers for Rs 860.65 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net sellers to the tune of Rs 1911.77 crore, provisional data showed on the NSE.

Stocks under F&O ban on NSE  

Punjab National Bank, Sun TV and Escorts were placed under the F&O ban on Monday. 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.)