What changed your market while you were sleeping

Easing tension over North Korea caused stocks to rise the world over on Tuesday, when Indian markets were shut for a public holiday. Will Dalal Street play catch up on Wednesday?

Let’s check out what all might influence Dalal Street through the day.

Singapore trading sets stage for positive opening
At 6.30 am, Nifty50 futures on the Singapore Stock Exchange were trading 24.50 points, or 0.25 per cent higher at 9,820.50, indicating a positive opening for the domestic market.

Nifty formed bullish candle on daily chart
Nifty50 settled a tad below the 9,800 level on Monday, but closed above its crucial 50-day exponential moving average (EMA). Analysts do not see Monday’s gains as trend reversal and expect the index to face strong resistance in 9,820-9,852 range.

Sameet Chavan of Angel Broking said, “We expect the index to remain under pressure over the next few weeks. The’89 EMA’ level of 9,600-9,580 on the daily chart could be tested soon. Traders are repeatedly advised to remain light and avoid taking undue risks as individual stocks may continue correcting in next few days.”

Govt slaps $264m penalty on RIL, BP
The government has disallowed Reliance Industries (RIL) and partners to recover $264 million of cost of developing KG-D6 fields for 2015-16 as the output from the field fell short of the target, according to sources familiar with the matter.

RBI’s inflation forecast turning out to be spot on
RBI's conservative inflation forecast for the fiscal year, which was criticised, may turn out to be true as economists now expect inflation to rise beyond the 4% target prescribed under the inflation targeting framework. Economists are now tempering expectations of any rate reduction this year.

Advisers for stake sale in 4 PSUs soon
The government is in advanced stage of appointing advisers for proposed strategic sales in state-run firms such as Scooters India, BEML, Pawan Hans and Hindustan Prefab to divest its entire or partial stakes to private sector players, a senior official said.

GVK Power renews talks for stake sale in arms
Weighed down by liabilities exceeding assets, accumulated losses, lenders classifying loan accounts as nonperforming, and auditors casting ‘significant doubt' on its survival, GVK Power & Infrastructure has renewed talks with potential investors for additional funds.

Asian stocks edge higher
MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.2 per cent while the Nikkei traded flat. Stocks gained after North Korean leader Kim Jong Un delayed a decision on fire missiles towards Guam, waiting to see what the US does, Reuters reported.

US debt level at record high
Total US household debt was $12.84 trillion in the three months to June, up $552 billion from a year ago, according to a Federal Reserve Bank of New York report published on Tuesday.

US stocks settled higher on Tuesday
The Dow Jones Industrial Average index rose 5.28 points, or 0.02 per cent, to 21,998, the S&P 500index lost 1.23 points, or 0.05 per cent, to 2,464 and the Nasdaq Composite .IXIC dropped 7.22 points, or 0.11 per cent, to 6,333.