Indian market snapped a 2-day winning streak on Tuesday to close below crucial support levels. The Nifty50 closed below 18,000, while the S&P BSE Sensex saw a fall of nearly 400 points. 
 
Indian market remained volatile amid selling in banks and pharma stocks. The Reserve Bank of India’s (RBI) statement on market valuations also dampened sentiments, suggest experts. 

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"The domestic market started trading between gains and losses before slipping into deep red with heavy selling in banking and pharma stocks. RBI’s statement that equity market valuations is stretched added to the pressure, however Mid & Smallcaps outperformed,” Vinod Nair, Head of Research at Geojit Financial Services, said. 
 

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“Global markets remained mixed as the Biden-Xi meeting ended with both the parties appealing for more cooperation. European and US markets are trading almost flat ahead of the release of Eurozone Q3 GDP and US retail sales data,” he said. 
 
The market is likely to remain volatile but crucial support for Nifty50 is placed at 17600-17500 levels. 
 
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:  The major US stock markets closed with gains in the green on Tuesday. Dow Jones added 55 points to 36,142, Nasdaq closed at 15,974 with gains of 120 and S&P 500 advanced 0.39% to 4,701 in Tuesday's closing. 
 
Asian Markets: Most Asian share markets were trading negative on Wednesday morning. Japanese Nikkei 225 Index was trading down 74 points to 29,731, Hang Sang Index at Hong Kong Exchange was down 0.18% to 25,667, while Chinese Shanghai Composite Index was trading flat at 35 22 on Wednesday.  
 
SGX Nifty:   
 
SGX Nifty Futures was trading 61 points lower to 17,994  around 7.15 am IST, indicating a negative opening for the Indian markets. 

 

 
SEBI Board may consider minimum 5% gap in IPO price bands 
 
To curb the misuse, the Securities and Exchange Board of India (SEBI) may come soon with a minimum 5% gap in IPO price bands. SEBI had taken this issue seriously and floated a discussion paper last month. 
 
As per sources in investment banking, post discussion paper the proposal is likely to be sent to the SEBI board, which is expected to meet next month. The stakeholders have expressed support for this move of SEBI.   
 
Tarsons Products IPO closing: 
 
The initial public offer of Tarsons Products Limited has been oversubscribed 3.58 times on the BSE on the second day as per data published on the website. It was till 5 pm, the BSE website said. Against 1,08,44,104 shares on offer, bids were made for as many as 3,88,07,802 shares around the same time. 
      
Go Colors IPO opens on Nov 17: 
 
Go Fashion (India) Ltd, which owns women's wear brand Go Colors has fixed a price band of Rs 655-690 a share for its Rs 1,014 crore initial public offering (IPO). The three-day initial share-sale will open for public subscription on November 17 and conclude on November 22. 
 
RBI aims to bring down liquidity to adequate levels 
 
India's central bank wants to gradually lower excess liquidity in the banking system but will ensure there is adequate liquidity always available to meet the needs of the productive sectors of the economy, its governor said on Tuesday. 
 
Far deeper issues with cryptocurrencies, says RBI Governor 
 
For the second time in a week, RBI Governor Shaktikanta Das on Tuesday expressed his concerns over cryptocurrencies, saying there are "far deeper issues" involved in virtual currencies that could pose a threat to the country's economic and financial stability. 
 
Modi to inaugurate first global innovation summit of pharma sector 
 
Prime Minister Narendra Modi will inaugurate the first global innovation summit of the pharmaceutical sector on Thursday via video conferencing. 
 
FII & DII Data:   
 
Foreign portfolio investors (FPIs) remained net sellers for Rs 560 crore in the cash segment of the Indian equity markets, while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 577 crore, provisional data showed on the NSE.   
 
Stocks under F&O ban on NSE     
 
Seven stocks: Punjab National Bank, Sun TV, BHEL, Indiabulls Housing Finance, SAIL, IRCTC and National Aluminium have been 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.)