Markets bounced back sharply on Tuesday after technology stocks helped Nifty to defend crucial support of 17214 and closed above 17550. The breadth of the market remained negative with Bank Nifty underperforming the Nifty Index while USDINR turned flat as Chinese market were shut due to holiday. Today, the U.S Fed policy will be in focus as o the timing of tapering of bond purchases. For the Indian markets, major impact could be felt if USDINR crosses the 74 mark. Today, we expect market movement to be determined from movement of Chinese Yuan.
US stocks ended near flat on Tuesday after sell-off a day before, with worries over troubles at developer China Evergrande and caution ahead of Wednesday’s Federal Reserve policy news keeping investors cautious. The Dow Jones Industrial Average fell 50.63 points, or 0.15%, to 33,919.84, the S&P 500 lost 3.54 points, or 0.08%, to 4,354.19 and the Nasdaq Composite added 32.50 points, or 0.22%, to 14,746.40. Gold futures settled higher on Tuesday, extending gains to a second straight session, after three successive days of losses. Crude oil prices moved higher on Tuesday, ahead of weekly U.S. crude inventories data
Stocks in news
Zee Board has accepted a non-binding term sheet from Sony India for a merger.
Tata Power- Co seeks to raise USD 500-700 mn for its renewable business.
KEC International bags orders worth Rs 1,157 cr across various businesses
Carlyle sells 3.4% stake in SBI Cards in two separate block deals
Torrent Power acquires 156 Mw wind power plants from CESC Ltd arm
Godrej Industries’ Board approves plan to raise Rs 750 cr via NCDs
Flipkart to kick off flagship sale event The Big Billion Days on Oct 7
Lincoln Pharma acquires plant for making pneumonia, bronchitis antibiotics
Tata Motors to hike commercial vehicle prices by around 2% from Oct 1
Glenmark Pharma gets USFDA nod for generic antibiotic cream
State Bank of India prepared to support Tata group’s bid for Air India
HDFC launches festive offer; home loan starting from 6.7%
HDFC Bank says it will double retail loans, sees ‘robust demand’ in economy
Private lender YES Bank resumes credit card issuance with Visa tie-up
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