Market may see negative opening tracking mixed cues from Asian peers

Indian shares are likely to open the final trading session of the week marginally lower as cues from Asian peers are mixed and investors look forward to another batch of corporate earnings. Among Nifty 50 companies, ICICI Bank, ITC, UPL and Dr Reddy’s Lab are unveiling their quarterly earning numbers today. The SGX Nifty is trading lower by 30 points at the level of 10,152.  
  
The stocks in Asia are trading mixed on Friday as major indices fluctuate between gains and losses. The Japanese stock market Nikkei 225 has dipped 0.22 per cent and Hong Kong’s Hang Seng has lost 0.44 per cent, while China’s Shanghai Composite Index has advanced 0.26 per cent.  
  
Back home, after a day of upmove, bears took the centre-stage on Dalal Street and the key benchmark indices ended Thursday’s session with sharp losses. The Nifty ended the day with loss of 100 points at 10,125 and the BSE Sensex slumped 344 points to close at 33,690. The broader market fell in line with the frontline indices as both Nifty Midcap and Smallcap indices closed lower by 0.63 and 1.29 per cent, respectively. Selling pressure was seen across the sectors with Nifty Media, Nifty Pharma and Nifty Realty being the top losers.   
  
The US stocks staged a strong comeback on Thursday as major indices regained much of the ground lost during the previous session. The tech-heavy Nasdaq registered its best single day performance since March 26. Market participants seemed to be looking for a reason to buy and the release of some upbeat economic data along with positive earnings did the trick. The commerce department report showed an unexpected increase in durable goods orders in the month of September and the National Association of Realtors also released a report showing an unexpected rebound in pending home sales in September. In the end, the Dow Jones Industrial Average jumped 401 points, the S&P 500 edged up 49 points and the Nasdaq soared 210 points.     
  
European equities ended Thursday’s session in the green as the European Central Bank left its interest rates as well as it forward guidance unchanged on Thursday. The DAX of Germany climbed 1.03 per cent, the CAC of France surged up 1.60 per cent and the UK’s FTSE 100 added 0.59 per cent.