Benchmarks for Indian equities are expected to open slightly lower, as indicated by Nifty Futures traded on the Singapore Stock Exchange. Nifty Futures on Singapore Exchange, also known as SGX Nifty Futures, fell 0.19% or 38 points to 17,966 amid mixed global indices.
Here are the key things to know before the market opens on Friday:
Asian markets were trading on a mixed note with Japan’s Nikkei up 0.07%, Hing Kong’s Hang Seng up 0.12%, Taiwan Weighted down 0.1% and South Korea’s KOSPI Korean down 0.2%.
Overnight, Wall Street ended with modest gains for stocks on Thursday and the benchmark S&P 500 index barely returned to green for the week.
The S&P 500 rose 0.2% after hovering between small gains and losses for much of the day. It is now up 0.1% for the week.
The Dow Jones Industrial Average managed a 0.1% gain, while the Nasdaq rose 0.2% as technology companies gained ground.
Small company stocks outperformed the broader market, pushing the Russell 2000 Index up 0.7%.
The choppy trade in stocks follows a four-week winning streak for the S&P 500. Investors remain concerned about stubbornly high inflation and its impact on consumers and businesses. Financial results from major retailers and economic updates throughout the week showed that the economy remains under inflationary pressure, but has several pockets of resilience.
Checking the price of gold and crude oil
Benchmark U.S. crude for September delivery rose $2.39 to $90.50 a barrel on Thursday. Brent crude for October delivery rose $2.94 to $96.59 a barrel.
Gold for December delivery fell $5.50 to $1,771.20 an ounce. Silver for September delivery fell 27 cents to $19.46 an ounce and September copper was up 5 cents to $3.63 a pound.
The dollar fell from 135.05 yen to 135.91 Japanese yen. The euro fell to $1.0091 from $1.0183.
Foreign institutional investors sold shares worth Rs 1,706 crore on Thursday while domestic institutional investors bought shares worth Rs 471 crore.
The rupiah depreciated 19 paise to close at 79.64 against the US dollar on Thursday as a strong US currency overseas and rebounding crude oil prices weighed on investor sentiment.
The U.S. dollar traded strongly against other Asian currencies after Federal Reserve meeting minutes hinted it would launch aggressive interest rate hikes to fight inflation.
In the interbank foreign exchange market, the local currency opened at 79.60 and moved in a range of 79.60 to 79.71 during the day.
Actions in brief
Reliance Industries, CGSB: The government on Thursday raised the windfall tax on diesel export to Rs 7 per liter and reinstated a tax on jet fuel exports, but reduced the tax on domestically produced crude oil in line with the decline rates.
In the third bi-monthly review, the government raised the windfall tax on diesel export to Rs 7 per liter from Rs 5 per liter and imposed a Rs 2 per liter tax on ATF exports, indicated a notification from the Ministry of Finance.
Earlier this month, the government removed the windfall tax on exports of ATF (Aviation Turbine Fuel).
BCL: Assam-based PSU Brahmaputra Crakers and Polymers (BCPL) has offered to invest Rs 450 crore for a naphtha import storage and shipping facility in West Bengal’s Haldia port area, an official said on Thursday. senior official.
BPCL is implementing the prestigious Assam Gas Cracker Project, the largest petrochemical project in the North East.
The company has delivered the project feasibility report to Kolkata Port, now known as Syama Prasad Mookerjee Port (SMP).
Embassy Office Parks REIT: The American Balanced Fund unloaded 2.9 crore of shares in the Embassy Office Parks REIT real estate investment trust for Rs 1,046 crore on Thursday through an open market transaction.
According to wholesale trading data available with the BSE, American Balanced Fund sold 2,92,62,468 shares of the company.
Ashok Leyland: Switch Mobility, the electric vehicle division of Hinduja Group’s flagship Ashok Leyland, unveiled its electric double-decker bus on Thursday.
The introduction of these 66-seater buses will help Brihanmumbai Electricity Supply and Transport (BEST) convert its current fleet of double-decker buses to electric as it seeks to make travel greener by 2028.