Nifty failed to sustain above 18000 on Monday as surge in USDINR forced Nifty to retreat from higher levels and ended below 17950. With long term breakout in USDINR being activated above 74.80, the positive momentum can easily carry upmove towards 78 and beyond. The rise in USDINR also has forced Indian 10 yr bond yield to cross 6.3% and this may eventually trigger more selling from FII. For Nifty, based on USD terms we can expect major breakdown on close below 17610.
U.S indices ended lower on Monday as investors grew nervous ahead of third-quarter earnings reporting season. The FOMC minutes due Wednesday will be in the spotlight for any clues on the Fed’s tapering timeline. Markets are anticipating some announcement next month. The Dow Jones Industrial Average fell 250.19 points, or 0.72%, to 34,496.06, the S&P 500 lost 30.15 points, or 0.69%, to 4,361.19 and the Nasdaq Composite dropped 93.34 points, or 0.64%, to 14,486.20.
Stocks in news
Invesco Escalates War of Words with Zee, Wants Independent Board
Billionaire Jhunjhunwala-Backed Akasa to Start Flights in 2022
India Sept. Consumer Price Inflation y/y; est. 4.50%, prior 5.30%
India Aug. Industrial Production y/y; est. 11.7%, prior 11.5%
India Sept. trade balance, est. – $22.9b, prior -$13.8b
Adani Green Energy Says operational capacity nearly doubles y/y to 5,410 MW
Alembic Pharmaceuticals Says FDA finds co. responses to its observation adequate, compliance verification to be done on reinspection
Coal India Says supplies to power plants rise to 1.5m tons/day
Delta Corp 2Q net loss 225.7m rupees Vs. loss 549.1m rupees Y/y
Tata Motors Group 2Q global wholesales rise 24% y/y to 251,689 units
Ujjivan Small Finance Bank Says total deposits rise 31% y/y as of Sept. 30; gross loan book rises 4% y/y
Welspun Corp To join H2Pipe project in hydrogern pipelines
Must Read: Hybrid Funds And Its Types
A financial planning platform where you can plan all your goals, cash flows, expenses management, etc., which provides you advisory on the go. Unbiased and with uttermost data security, create your Financial Planning without any cost on: http://bit.ly/Robo-Fintoo
Disclaimer: The views shared in blogs are based on personal opinion and does not endorse the company’s views. Investment is a subject matter of solicitation and one should consult a Financial Adviser before making any investment using the app. Making an investment using the app is the sole decision of the investor and the company or any of its communication cannot be held responsible for it.