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    What changed your market while you were asleep

    Synopsis

    Seeking to recover dues from Jaypee Infratech, IDBI Bank urged the Supreme Court on Tuesday to lift the stay order on insolvency proceedings.

    ETMarkets.com
    While the global setup remains weak and technical charts suggest only limited upside, will the Nifty50 stay above 9,950? Let’s check out what all might influence Dalal Street through the day:

    Singapore trading sets stage for negative opening
    At 6.20 am, Nifty50 futures on the Singapore Stock Exchange were trading 33.50 points, or 0.34 per cent, lower at 9,941, indicating a negative opening for the domestic market.

    Nifty formed Harami candle on daily chart
    In a two-candlestick bullish Harami, a large candlestick (Bearish Engulfing on Monday) is followed by a small candlestick where the body of the smaller candlestick is located within the vertical range of the previous session’s body. The pattern often indicates a possible reversal of the bearish trend.

    “The Nifty50 formed a ‘Haramai candle’ as it traded inside the trading range of last session. It has got stability after a sharp decline on Monday. But the index needs to hold above 9,928 to head towards multiple hurdle of 9,980 and 10,020 levels,” said Chandan Taparia of Motilal Oswal Securities.

    Services PMI improves, but in contraction mode
    Services activity remained subdued in August though the Nikkei India Services PMI Business Activity Index rose to 47.5 from a five-year low of 45.9 in July. A value below 50 suggests contraction.

    Two IPOs open today
    Noida-based consumer electronics and lightning products maker Dixon Technologies (India) on Tuesday raised Rs 179.8 crore by allotting 10.18 lakh shares to anchor investors at the higher end of the IPO price band of Rs 1,760-Rs 1,766 per share. The issue opens on Wednesday. Besides Bharat Road Network, a Srei Infrastructure Finance initiative, will sell up to 2.93 crore equity shares in Rs 195-205 range .

    IDBI Bank moves SC on Jaypee Infra
    Seeking to recover dues from Jaypee Infratech, IDBI Bank urged the Supreme Court on Tuesday to lift the stay order on insolvency proceedings.

    HDFC MF buys 4.6% stake in Just Dial
    HDFC Mutual Fund bought 32.07 lakh shares, or a 4.6% stake, in Just Dial at Rs 375 per share on Tuesday, bulk deal data on the National Stock Exchange showed.

    ICICI Lombard gets Sebi nod for IPO
    ICICI Lombard General Insurance Company has got capital markets regulator Sebi's go-ahead for its estimated Rs 6,000 crore initial public offer, which could be the first by a general insurer in the country.

    Asian markets open lower
    Asian stocks tracked Wall Street's slide overnight to slip on Wednesday while the dollar was on the defensive with tensions in the Korean Peninsula showing little signs of abating, Reuters reported. Asian stocks fell as nations grapple with how to deal with escalating provocations from North Korea. MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.15 per cent. Japan's Nikkei shed 0.55 per cent and Australian stocks lost 0.3 per cent. South Korea’s Kospi was down 0.2 per cent and on track for its fifth straight day of losses.

    US stocks settle sharply lower
    US stocks sank on Tuesday, with the S&P500 stumbling to its biggest single-day loss in about three weeks. With US markets closed on Monday for the Labor Day holiday, Tuesday marked the first regular trading since the geopolitical developments. The Dow Jones Industrial Average index declined 234.25 points, or 1.07 per cent, to 21,753, the S&P500 index fell 18.7 points, or 0.76 per cent, to 2,457. The Nasdaq Composite index dropped 59.76 points, or 0.93 percent, to 6,375.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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