SGX Nifty rises 56 points: Asian markets firm; FPI buying, market outlook & more

Domestic stocks are likely to see positive start to Friday’s trade despite hawkish comments from St Louis Fed President James Bullard over more policy tightening and concerns over rising Covid cases in China. Asian markets were trading higher in early trade and domestic indices are likely to  follow the trend. Here’s what you should know before the Opening Bell: 

Nifty outlook

Thursday was a rangebound session for Nifty and Nifty Bank. The day saw NSE barometer Nifty trading in a narrow 105-point range, before eventually forming an indecisive candle on the daily chart. This was the second day when the index formed an indecisive candle, as traders turned indecisive at high. .  For Nifty, resistance is seen at 18,500 level while support is seen at 18,250-180 level.

SGX Nifty signals a positive start 

Nifty futures on the Singapore Exchange quoted 56 points, or 0.30 per cent, higher at 18,431, hinting at a positive start for the domestic market on Friday.

Asian markets rise in early trade

Asian markets were trading higher on Friday morning even as US Federal Reserve officials’ comments on interest rates and that there were concerns over rising coronavirus cases in China . Japan’s Nikkei was up 0.17 per cent. Hong Kong’s Hang Seng rose 1.3 per cent; Korea’s Kospi added 0.66 per cent while China’s Shanghai Composite was flat.

US stocks settle lower

US stocks closed mostly lower on Thursday after hawkish comments from a US Federal Reserve official and data showing the labour market remained tight. Dow Jones declined 7.51 points, or 0.02 per cent, to 33,546.32. S&P500 index lost 12.23 points, or 0.31 per cent, to 3,946.56. Nasdaq Composite fell 38.70 points, or 0.35 per cent, to 11,144.96.

Corporate actions today

Friday will see at least 13 stocks such as Gujarat Pipavav, Info Edge, Sun TV, Emami, HAL, MSTC, Astral, La Opala RG and Venus Pipes going ex-dividend. Shares of Orbit Exports will go ex- share buyback.

Stocks in F&O ban

Shares of Balrampur Chini, BHEL, Delta Corp, GNFC, Indiabulls Housing Finance and SUN TV are banned in the F&O segment today. Derivative contract in a security is banned when it crosses 95 per cent of the market-wide position limit (MWPL). No new positions can be created in the derivative contracts of said security. This prohibition is lifted when the open interest in the stock drops below 80 per cent of the MWPL across exchanges.

FPIs buy shares worth Rs 618 crore

Provisional data available with NSE suggests FPIs were net buyers of domestic stocks to the tune of Rs 618.37 crore on Thursday Domestic institutional investors (DIIs) were buyers of equities to the tune of Rs 449.22 crore.

Rupee falls 38 paise against dollar

The rupee fell 38 paise to close at 81.64 against the dollar on Thursday, tracking the strength of the greenback in the overseas markets and a tepid trend in domestic equities. Forex traders said the US currency strengthened as a strong US retail sales data pointed to resilient consumption, offering room for a further Fed tightening.

Also Read: Stocks in news: Nykaa, UltraTech, Bajaj Auto, Blue Dart and more


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