Market may open in the red following negative Asian cues
India markets may open slightly lower on Friday following negative sentiments prevailing in the Asian markets and mixed close on the Wall Street. The SGX Nifty Index Future, which was trading at 10,585, suggests Nifty may open lower by 31 points. On the earnings front, Titan, India Cements, EID Parry, Amara Raja Batteries, Indian Bank will release their results today.
Most of the major Asian indices are trading in the negative terrain on Friday following mixed close on the Wall Street. Hong Kong’s Hang Seng is leading the fall as it is down by 1.87 per cent, followed by China’s Shanghai Composite index which has decreased by 0.86 per cent and Japanese stock market Nikkei 225 shedding 0.67 per cent.
Back home, equity benchmark indices ended the special Muhurat trading session of Samvat 2075 on an optimistic note. The Nifty rallied 68 points to settle at 10,598 and the BSE Sensex surged 246 points to close at 35,238. The broader indices outperformed the frontline indices as Nifty Mid-cap and Small-cap rose 0.78 and 1.12 per cent, respectively. All sectoral indices ended in the green with Nifty Auto and Nifty FMCG emerging top gainers.
The US equities ended Thursday’s session on a mixed note with the Dow Jones ending the session with nominal gains. The Fed expectedly left interest rates steady between 2 and 2.25 per cent in November. Still, a few changes were made to the accompanying statement. The Dow Jones Industrial Average added 0.04 per cent, while the S&P 500 slipped 0.25 per cent, and the tech-heavy Nasdaq lost 0.53 per cent.
The European stock indices struggled to find a clear direction on Thursday and closed mixed. The European Commission commented that growth in the Eurozone will stall in the coming years and it forecasted that the Italian economy would grow more slowly in the next two years than Rome thinks. The DAX of Germany dropped 0.45 per cent and the CAC of France dipped 0.13 per cent, while UK’s FTSE 100 advanced 0.33 per cent.