Market conditions
GIFT Nifty (earlier SGX Nifty) signals a muted start
The GIFT Nifty traded down 12 points, or 0.05 percent, at 26,177 on NSE IX, indicating Dalal Street is headed for a muted start on Friday.
- Tech View: In terms of key levels, the subzone of 26000-25950 is expected to provide support against potential downside, while the crucial support level marked by a bullish candle is around 25850. Conversely, intermediate resistance is identified around 26200, followed by a more formidable resistance at 325.
- India VIX: The India VIX, a gauge of fear in markets, settled down 3.5% at 10.82.
US stocks flat
US stocks closed near the unchanged mark on Thursday, as investors weighed a report on the labor market and other economic data, while equities supported elevated hopes of a Federal Reserve interest-rate cut next week.
- Dow of 0.07%,
- The S&P rose 0.11%,
- The Nasdaq rose 0.22%
Asian stocks fall
Asian equities fell following a lackluster session on Wall Street, which weighed on tech stocks and bonds, with the focus on the release of key US inflation data later on Friday.
- S&P 500 futures were little changed at 9:37 a.m. Tokyo time.
- Hang Seng futures fell 0.2%
- Japan’s Topix fell 1.1%
- Australia’s S&P/ASX 200 was little changed
- Euro Stoxx 50 futures were little changed
Live events
The dollar slipped
The US dollar was not far off a five-week low against its major peers on Friday as investors looked ahead to a Federal Reserve rate cut next week. Markets widely expect a quarter-point cut when the policy-making Federal Open Market Committee meets on Dec. 9-10, and the focus will be on any signs of how much additional easing lies ahead.
Changed the oil a little
WTI oil prices were heading for weekly gains of close to 2% in early trading on Friday, supported by an expected interest rate cut by the Federal Reserve, rising US-Venezuela tensions and stalled peace talks in Moscow.
Gold stable
Gold prices were steady on Friday, as rising US Treasuries offered offset support from a weaker dollar, while markets awaited later-in-the-day US inflation data for clues on the Federal Reserve’s policy outlook ahead of its meeting next week.
Ban stock today in F&O
Equity capital
Bandhan Bank
Block period securities under the F&O segment include companies in which the security exceeds 95% of the market-wide position limit.
FII/DII action
Foreign portfolio investors on Thursday invested Rs. 1,944 crore net sale of shares. Meanwhile DII Rs. 3,661 crore were net buyers.
Rs
The Indian rupee ended above 90 per dollar after hitting a record low on Thursday, as dollar sales by multiple foreign banks, likely due to inflows, helped the currency snap a six-session losing streak.
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