STATE OF THE MARKETS
SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 53.5 point, or 0.30 per cent, lower at 17,980, signaling that Dalal Street was headed for a positive start on Friday.
- Tech View: Nifty50 on Thursday fell below its 20-day EMA and ended up forming a bearish candle on the daily chart. Analysts said holding above 17,800 is a must for the index for any recovery.
- India VIX: The fear gauge jumped slightly to 16.35 level on Thursday over its close at 16.30 on Wednesday.
Asian shares traded higher
Shares were mostly higher in Asia on Friday after Wall Street benchmarks managed to close mostly higher. Stocks advanced in most major markets in early trading. MSCI’s index of Asia-Pacific shares outside Japan was up by 0.68 per cent.
- Japan’s Nikkei jumped 1.03%
- South Korea’s Kospi soared 1.42%
- Australia’s ASX 200 gained 1.01%
- China’s Shanghai advanced 0.13%
- Hong Kong’s Hang Seng added 0.67%
US stocks settled mixed
The S&P500 ended only nominally higher on Thursday, with chipmakers helping push the Nasdaq into green territory in a muted Veterans Day session, the day after hotter-than-expected inflation reports dampened investor sentiment and halted a streak of record closing highs.
- Dow Jones shed 0.44% to 35,921.23
- S&P 500 added 0.06% to 4,649.27
- Nasdaq jumped 0.52% at 15,704.28
Dollar hits 16-month high
The US dollar headed for its best week in almost five months against major peers on Friday, amid bets for earlier Federal Reserve interest rate hikes after data this week showed the fastest US inflation in three decades.
- Dollar index spiked to 95.256
- Euro pummelled to $1.1439
- Pound dropped to $1.3356
- Yen declined to 114.265 per dollar
- Yuan depreciated to 6.3968 against the greenback
Oil prices fall in early trade
Benchmark US crude oil lost 21 cents to $81.38 per barrel in electronic trading on the New York Mercantile Exchange. It gained 25 cents to $81.59 per barrel on Thursday. Brent crude, the basis for international pricing, gave up 23 cents to $82.64 per barrel.
FPIs sell shares worth Rs 1,637 cr
Net-net, foreign portfolio investors (FPIs) turned sellers of domestic stocks to the tune of Rs 1,637.46 crore, data available with NSE suggested. DIIs were net buyers to the tune of Rs 445.76 crore, data suggests.
Q2 earnings today
ONGC, Grasim Industries, Coal India, Hindalco Industries, Motherson Sumi Systems, Apollo Hospitals , Hero MotoCorp, Ashok Leyland, Abbott India, Alkem Laboratories, PI Industries, Bharat Forge, Max Healthcare, 3M India and Vodafone Idea are among the companies that will announce their September quarter results today.
Fino Payments to make market debut
Fino Payments Bank, the new age lender, is going to make its Dalal Street debut on Friday. The initial stake sale of the bank was open for subscription between October 29 and November 2. However, the lender has not seen any activity in the grey market. It sold its shares in the price range of Rs 560-577 a piece to raise Rs 1,200.29 crore via IPO.
MONEY MARKETS
Rupee: The rupee depreciated by 18 paise to end at 74.52 (provisional) against the US currency on Thursday, as heavy selling pressure in domestic equities and a strong greenback in the overseas market weighed on investor sentiments.
10-year bond: India 10-year bond jumped 0.54 per cent to 6.37 after trading in 6.35 – 6.38 range on Thursday.
Call rates: The overnight call money rate weighted average stood at 3.20 per cent on Thursday, according to RBI data. It moved in a range of 2.00-3.50 per cent.
