STATE OF THE MARKETS
SGX Nifty signals a weak start
Nifty futures on the Singapore Exchange traded 110 points, or 0.63 per cent, lower at 17,467.50, signaling that Dalal Street was headed for a weak start on Friday.
- Tech View: Nifty50 on Thursday reclaimed 17,500 and, in the process, formed a small bullish candle on the daily chart. The index can face an immediate hurdle at 17,600, said analysts, who believe that the immediate support is placed at 17, 350 level.
- India VIX: The fear gauge fell 2.62 per cent to 16.66 level on Thursday over its close at 17.10 on Wednesday.
Asian shares drop on Covid concerns
Asian markets saw a sell-off in Friday’s trade following the discovery of a new virus variant that has several mutations and has fanned fears it could spread globally. MSCI’s index of Asia-Pacific shares outside Japan was down 1.24 per cent.
- Japan’s Nikkei tanked 2.52%
- South Korea’s Kospi fell 1.01%
- Australia’s ASX 200 declined 1.38%
- China’s Shanghai shed 0.33%
- Hong Kong’s Hang Seng fell 1.99%
S&P500 futures fall 0.4% in morning trade
S&P500 futures fell 0.6 per cent while Dow Jones futures were down 0.7 per cent. US markets were closed for the Thanksgiving holiday. They reopen Friday for a shortened trading session.
Yen rallies on safe haven buying, rand sinks
The safe-haven yen rallied and the South African rand tumbled on Friday as investors turned cautious after Britain raised the alarm over a newly identified coronavirus variant spreading in the African nation. The dollar index – which measures the greenback against six peers, including the yen, euro and pound sterling – edged further away from Wednesday’s 96.938 – its highest level in nearly 17 months.
- Dollar index stands at 96.715
- Euro edged higher to $1.12185
- Pound slipped to $1.3305.
- Yen rises to 114.68 per dollar
- Yuan at 6.390 against the greenback
Oil skids on concerns of rising surplus
Oil prices slid more than 1 per cent on Friday on concerns that a global supply surplus could swell in the first quarter following a coordinated release of crude reserves among major consumers, led by the United States. Brent crude futures extended declines for a third session, falling 96 cents, or 1.2 per cent, to $81.26 a barrel. US WTI crude was down $1.35, or 1.7 per cent, at $77.04 a barrel.
FPIs sell shares worth Rs 2,301 crore
Net-net, foreign portfolio investors (FPIs) turned sellers of domestic stocks to the tune of Rs 2,300.65 crore, data available with NSE suggested. DIIs were net buyers to the tune of Rs 1,367.8 crore, data suggests.
MONEY MARKETS
Rupee: The rupee declined by 12 paise to close at 74.52 against the US currency on Thursday amid month-end dollar demand and foreign fund outflows from equity and debt markets.
10-year bond: India’s 10-year bond was flat at 6.367 after trading in 6.366-6.376 range on Thursday.
Call rates: The overnight call money rate weighted average stood at 3.27 per cent, according to RBI data. It moved in a range of 2.00-3.55 per cent.
