Stock Market Today: Top 10 things to know before the market opens today - Moneycontrol

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The market is expected to open in the red as trends in the SGX Nifty indicate a negative opening for the broader index in India with a loss of 49 points.

The BSE Sensex was down 954 points to 57,145 at the close on Monday, while the Nifty50 plunged 311 points to 17,016 and formed a bearish candlestick pattern on the daily charts.

As per the pivot charts, the key support level for the Nifty is placed at 16,931, followed by 16,845. If the index moves up, the key resistance levels to watch out for are 17,149 and 17,282.

Stay tuned to Moneycontrol to find out what happens in the currency and equity markets today. We have collated a list of important headlines across news platforms which could impact Indian as well as international markets:

US Markets

Wall Street slid deeper into a bear market on Monday, with the S&P 500 and Dow closing lower as investors fretted that the Federal Reserve's aggressive campaign against inflation could throw the US economy into a sharp downturn.

The Dow Jones Industrial Average fell 1.11 percent to end at 29,260.81 points, while the S&P 500 lost 1.03 percent to 3,655.04. The Nasdaq Composite dropped 0.6 percent to 10,802.92.

Asian Markets

Shares in the Asia-Pacific were higher on Tuesday after a sharp fall on Monday. The Nikkei 225 in Japan rose 0.65 percent, and the Topix index gained 0.66 percent. In Australia, the S&P/ASX 200 added 0.46 percent. South Korea’s Kospi was marginally up, and the Kosdaq gained 0.64 percent.

MSCI’s broadest index of Asia-Pacific shares outside Japan was about flat.

SGX Nifty

Trends in the SGX Nifty signal a negative opening for the broader index in India, down 49 points. The Nifty futures were trading around 16,971 levels on the Singaporean exchange early on Tuesday Indian time.

Brent crude slides below $85

Brent crude fell below $85 a barrel on Monday, as recession fears weighed and the US dollar surged. Brent futures for November settlement shed 2.1 percent to trade at $84.32 per barrel around 1:20pm on Wall Street. West Texas Intermediate futures fell 2.3 percent to trade at $76.97 per barrel, a price last seen in early January.

South Korean inflation expectations fall for a second month in September

South Korean consumers' inflation expectations fell in September for a second month after six months of rises, although the decline was small, a central bank survey showed on Tuesday.

The Bank of Korea said in a statement respondents to the survey gave a median answer of 4.2 percent when asked about their expectations for consumer inflation for the coming 12-month period, down from 4.3 percent in August, when the rate fell from 4.7 percent in July.

Fed officials stare down markets, say inflation is top focus

US Federal Reserve officials on Monday sloughed off rising volatility in global markets, from slumping stocks to currency turbulence abroad, and said their priority remained controlling domestic inflation.

In recent weeks, Fed officials have been adamant that they will push rates as far as needed to cool off inflation - even at the cost of rising unemployment and a possible recession.

The S&P 500 is down 12 percent just in the month that Fed Chair Jerome Powell delivered a stern message at a central bank symposium in Wyoming about the economic 'pain' required to curb the fastest price increases since the 1980s.

Blackstone to sell Rs 2,650 crore worth of units of Embassy REIT today

Blackstone Inc is slated to sell 7.7 crore units of Embassy REIT worth Rs 2,650 crore through block deals today, CNBC Awaaz reported citing sources. The offer price of the block deal stands at Rs 345 per unit, 1.82 percent lower against today's closing price of Rs 351.40 on the BSE. IIFL, BofA, and Morgan Stanley, as per report, are brokers to the deal.

Abu Dhabi's sovereign wealth fund, one of the world's largest, is likely to pick up at least half of the stake that Blackstone is to sell, one of the sources said.

FII and DII data

Foreign institutional investors (FIIs) have net sold shares worth Rs 5,101.30 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 3,532.18 crore on September 26, as per provisional data available on the NSE.

Bank of England says it's monitoring drop in pound, won't hesitate to change interest rates

The Bank of England says it is monitoring the drop in the pound and would not hesitate to boost interest rates to control inflation. The central bank on Monday reiterated its intention to make a full assessment'' of the government's tax and spending plans at the next meeting of its Monetary Policy Committee. That's now scheduled for November.

The bank says in a statement that it will not hesitate to change interest rates by as much as needed to return inflation to the 2% target sustainably in the medium term, in line with its remit."

Stocks under F&O ban on NSE

Three stocks - Vodafone Idea, Zee Entertainment Enterprises, and Punjab National Bank - are under NSE F&O ban list for September 27. Securities thus banned under the F&O segment include companies where derivative contracts have crossed 95 percent of the market-wide position limit.

With inputs from Reuters and other agencies

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Stock Market Today: Top 10 things to know before the market opens today - Moneycontrol
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