SGX Nifty trades 5 points up; here's what changed for market while you were sleeping

Domestic equity markets are likely to open on a cautious note on Friday, ahead of an extended weekend and mixed global cues. US stocks stabilized after mild inflation numbers, while Asian peers gained in early trade. Back home, investors will eye key Nifty earnings while the IPO of Syrma SGS Technology would kick off for subscription today.

Here's breaking down the pre-market actions:

STATE OF THE MARKETS

SGX Nifty signals a flat start
Nifty futures on the Singapore Exchange traded 4.5 points, or 0.03 per cent, higher at 17,693, signaling that Dalal Street was headed for a muted start on Friday.

• Tech View: Analysts said that the index is near key resistance levels, and the 17,700-800 range may prove to be a strong hurdle for the index in the near future.
• India VIX: The fear gauge plunged sharply more than 6 per cent to 18.36 level on Thursday over its close at 19.59 on Wednesday.

Asian stocks trade mostly lower
Major Asian stocks gave up their early gains to trade lower on Friday, after rebounding following gains on Wall Street after US economic data showed inflation may be slowing. MSCI's index of Asia-Pacific shares outside Japan was down by 0.17 per cent.

• Japan's Nikkei soared 2.38%
• Australia's ASX 200 shed 0.53%
• New Zealand's DJ dropped 0.61%
• South Korea's Kospi added 0.05%
• China's Shanghai declined 0.07%
• Hong Kong's Hang Seng fell 0.10%

US stocks settle mixed
Stock indexes on Wall Street turned mixed in late-afternoon trading Thursday, shedding some of their early gains following more encouraging data on inflation.

• Dow Jones added 0.08% to 33,336.67
• S&P 500 declined 0.08% to 4,207.27
• Nasdaq plunged 0.58% to 12,779.91

Dollar holds its strength
The Japanese yen fell the most against a resurgent US dollar on Friday, as a two-day rally in equities conceded to market expectations that the Fed will have to do a lot more to contain inflation.

• Dollar index pinned at 105.210
• Euro held lower at $1.0311
• Pound was traded at $1.2184
• Yen was struggled at 133.19 per dollar
• Yuan exchanged hands at 6.7455 against the greenback

Oil prices declined
Oil prices dipped in early trade on Friday amid uncertainty on the demand outlook based on contrasting views from OPEC and the International Energy Agency (IEA), but benchmark contracts were headed for weekly gains as recession fears eased.

Brent crude futures fell 34 cents, or 0.3 per cent, to $99.26 a barrel at 0112 GMT, while US West Texas Intermediate (WTI) crude futures fell 34 cents, or 0.3 per cent, to $94.00 a barrel.

FIIs buy shares worth Rs 2,298 cr
Net-net, foreign portfolio investors (FPIs) turned buyers of domestic stocks to the tune of Rs 2,298.08 crore, data available with NSE suggested. However, DIIs turned net sellers to the tune of Rs 729.56 crore, data suggests.

Q1 results today
Life Insurance Corporation of India, Oil and Natural Gas Corporation, Grasim Industries, Info Edge, Divi's Laboratories, Hindustan Aeronautics, Hero Motocorp, Muthoot Finance, Astral, Power Finance Corporation, Timken India, Zee Entertainment and Sun TV are among the companies that will announce their earnings for the quarter ended June 2022.

Stocks in F&O ban today
Two stocks- Delta Corp and Balrampur Chini Mills - are under the F&O ban for Friday, August 12. 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: The rupee depreciated by 37 paise to close at 79.62 against the US dollar on Thursday despite sustained foreign capital inflows and a positive trend in equities.

10-year bonds: India 10-year bond plunged 0.59 per cent to 7.27 after trading in 7.24 - 7.34 range on Thursday.

Call rates: The overnight call money rate weighted average stood at 5.10 per cent on Wednesday, according to RBI data. It moved in a range of 3.50-5.30 per cent.