10200 CONTINUES TO BE IMMEDIATE SUPPORT; 10400 IMMEDIATE HURDLE

10200 CONTINUES TO BE IMMEDIATE SUPPORT; 10400 IMMEDIATE HURDLE

WORLD MARKETS

Dow and S & P 500 fell 0.2% and 0.1% respectively while Nasdaq ended flat, with the S & P 500 extending the losing streak to fourth day.

US-10 year note yield touched a high of 3.252%, its highest since May 2011, before slipping to 3.21%. U.S. 30-year yield hit a four-year high at 3.439 percent.

Trump said that he did not like the Federal Reserve's decision to continue hiking interest rates.

US oil rose 67 cents to $74.96 and Brent added $1.09 to settle at $85 a barrel.

IMF cut its global economic growth outlook for this year and the next, citing trade uncertainties including the new NAFTA agreement, Brexit and the battle of tariffs between the U.S. and China.

European markets gained 0.1%-1.1% with Italy on the top. The U.K. pound surged to $1.31 handle after news reports suggested that EU and U.K. divorce terms could be resolved by October 15th.

AT HOME

Benchmark indices ended lower by half a percent after a rangebound but choppy session. Sensex settled at 34299, down 175 points while Nifty lost 47 points to finish at 10301. BSE mid-cap and small-cap indices fell 0.2% and 0.4% respectively. BSE Consumer Durable and Auto indices tumbled 3.9% and 2.6% respectively, becoming top losers among the sectoral indices while Metal and Healthcare gained 1% each, becoming top gainers.

FIIs net sold stocks worth Rs 1243 cr but net bought index futures and stock futures worth Rs 80 cr and 377 cr respectively. DIIs were net buyers to the tune of Rs 1526 cr.

Rupee depreciated 33 paise to end at fresh record low of 74.39/$.

Tata Motors nosedived 13% after the company-owned Jaguar Land Rover (JLR) reported a 12.3% decline in global sales in September, hit by lower demand in China.

OUTLOOK

Today morning, Hang Seng is up 0.7% while Nikkei and Shanghai are up about 0.2% each. SGX Nifty is suggesting about 40 points higher start for our market.

In yesterday's report we had said that 10198, the low made Monday, is the immediate support while immediate hurdle on the hourly chart is placed around 10740.

Nifty, after touching a high of 10398, slipped in last half an our to end at 10301 and is set to open higher today.

10200 continues to be immediate support, upon sustained trading below which, 9951, the bottom made in March, would be the next major support to eye. 10400, in the vicinity of which tops made yesterday and day before are placed, is the immediate hurdle above which 10650-10780 would be the bigger resistance zone to eye.

Zee Entertainment will report its quarterly earnings today.