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Domestic stocks may look to snap a five day losing run on Friday, after a late recovery helped US stocks cut losses overnight. Early trends in Asia also point towards a positive start. That said, sentiment may remain fragile at home, as data showed retail inflation in April jumped to an 8-year high of 7.79 per cent, raising bets of more rate hikes by the RBI. Here’s breaking down the pre-market actions:

STATE OF THE MARKETS


SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 166 points, or 1.05 per cent, higherat 15,982.50, signaling that Dalal Street was headed for a positive start on Friday.

  • Tech View: Nifty50 on Thursday formed a bearish candle on the daily scale and continued with its lower high-low formation. Even as the index is in oversold territory, as suggested by the 14-day RSI reading of 27, analysts said the trend broadly stays negative and the index could retest a swing low of 15,670 sooner than later.

  • India VIX: The fear gauge jumped more than 6.41 per cent to 24.27 level on Thursday over its previous day close of 22.80.

Asian shares trade higher
Most Asian markets opened higher on Friday after a mixed close on Wall Street, despite prevailing concerns about growth given stubborn inflation and rising interest rates. MSCI’s index of Asia-Pacific shares outside Japan was up 1.02 per cent.

  • Japan’s Nikkei jumped 2.4%
  • Australia’s ASX 200 added 1.47%
  • South Korea’s Kospi advanced 1.66%
  • Hong Kong’s Hang Seng climbed 1.58%
  • China’s Shanghai Composite rose 0.65%

US stocks settled mixed
Another erratic day of trading on Wall Street ended with an uneven finish for the major stock indices on Thursday, after the market reversed most of an early slide in the final hour of trading.

  • Dow Jones fell 0.33% to 31,730.30
  • S&P 500 declined 0.13% to 3,930.08
  • Nasdaq added 0.05% to 11,370.96

Oil climbs but weak demand cap gains
Oil prices firmed in early trade on Friday but were headed for their first weekly losses in three weeks as worries about inflation and China’s Covid lockdowns slowing global growth outweighed concerns about dwindling fuel supply from Russia. Brent crude futures were up 97 cents, or 0.9 per cent, at $108.42 a barrel, while US WTI crude futures climbed $1.00, or 0.9 per cent, to $107.13 a barrel.

FIIs sell shares worth Rs 5,256 cr
Net-net, foreign portfolio investors (FPIs) turned sellers of domestic stocks to the tune of Rs 5,255.75 crore, data available with NSE suggested. DIIs turned net buyers to the tune of Rs 4,815.64 crore, data suggests.

Q4 earnings today
SBI, Tech Mahindra, Eicher Motors, HAL, Bank of Baroda, Bandhan Bank, Balkrishna Industries, Alkem Laboratories, Linde India, REC, APL Apollo Tubes, CESC, Nazara Technologies and Emami are among the companies which will announce their earnings today.

Stocks in F&O ban today
Two stocks- Indiabulls Housing Finance and

are under the F&O ban for Friday. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 per cent of the market-wide position limit.

MONEY MARKETS

Rupee: Snapping its two-day winning streak, the rupee slumped by 15 paise to end at 77.40 against the US dollar on Thursday, following risk-off sentiments amid increasing concerns over inflation globally.

10-year bonds: India 10-year bond rose 0.40 per cent to 7.244 after trading in 7.192-7.293 range on Wednesday.

Call rates: The overnight call money rate weighted average stood at 4.04 per cent on Thursday, according to RBI data. It moved in a range of 2.30-4.35 per cent.

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