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    SGX Nifty trades 55 points lower; here's what changed for market while you were sleeping

    Synopsis

    Stocks edged lower in Asia after US equities struggled for direction, with traders awaiting a jobs report later Friday for clues on the Federal Reserve’s next policy steps.

    SGX Nifty trades 55 points lower; here's what changed for market while you were sleepingShutterstock.com
    A non-stop rally for eight consecutive sessions suggests that the domestic market could be feeling some fatigue at current levels, even though the overall bias remains positive. A weak global market mood is likely to weigh on the sentiments of investors back home. Meanwhile, market participants will eye the US jobs report for cues related Fed's policy action.

    Here's breaking down the pre-market actions:

    STATE OF THE MARKETS

    SGX Nifty signals a negative start
    Nifty futures on the Singapore Exchange traded 54 points or 0.28% lower at 18,921.50 at 7 am, indicating a negative start for Dalal Street.

    • Tech View: Nifty50 is showing signs of running out of steam for the time being. Crossing the 18,888 level could be tough, while 18,678 could offer support in the near term.

    • India VIX: As benchmark indices extended gains to the 8th session on Thursday, risk-on sentiment got a fillip and this pulled down the volatility gauge by 3.2% to 13.36 points.

    Asian stocks slip
    Stocks edged lower in Asia after US equities struggled for direction, with traders awaiting a jobs report later Friday for clues on the Federal Reserve’s next policy steps.

    • Japan’s Topix index fell 1.6%
    • South Korea’s Kospi index fell 0.8%
    • Australia’s S&P/ASX 200 Index fell 0.7%

    US stocks end mixed
    Wall Street ended mixed on Thursday as a selloff in Salesforce weighed on the Dow, while traders digested U.S. data that suggested the Federal Reserve's interest rate hikes are working.

    • S&P 500 declined 0.08%
    • Nasdaq gained 0.13%
    • Dow Jones Industrial Average declined 0.56%

    Oil prices dip as dollar strengthens
    Oil prices edged lower in early Asian trade on Friday as the U.S. dollar pared some losses, while easing COVID-19 curbs in two Chinese cities limited losses.

    Brent crude futures were down 11 cents or 0.1% at $86.77 per barrel by 1:28 GMT, while U.S. West Texas Intermediate (WTI) crude futures lost 14 cents or 0.2% to $81.08 per barrel.

    Dollar wobbles as inflation ebbs
    The dollar held firm on Friday but was pinned down near 16-week lows against a basket of major currencies as data showing increased U.S. consumer spending in October emboldened investor hopes that the peak in interest rates was on the horizon.

    • Bloomberg Dollar Spot Index was little changed
    • Euro was little changed at $1.0514
    • Japanese yen was little changed at 135.46 per dollar
    • Offshore yuan fell 0.1% to 7.0490 per dollar

    FII/DII action
    After being net buyers in the last few sessions, foreign portfolio investors (FPIs) on Thursday turned net sellers. They sold shares worth Rs 1,566 crore, provisional data showed. DIIs, on the other hand, turned net buyers after being sellers in recent sessions. They net bought shares to the tune of Rs 2,665 crore.

    Stocks in F&O ban today
    Bharat Heavy Electricals, Delta Corp, Indiabulls Housing Finance, and Punjab National Bank. Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.

    Rupee ends higher vs US dollar
    The Indian unit ended higher against the dollar on Thursday but pared some of the intraday gains. Rupee settled at 81.2150 a dollar, after testing a high of 80.9825 intraday.

    Macro news
    • US manufacturing activity shrank for the first time in more than 2 years in November, as higher borrowing costs weighed on demand for goods.

    • Initial jobless claims fell more than expected by 16,000 to 225,000 in the week ended November 26, the Labor Department said Thursday.



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    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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