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

Domestic equity markets are set to open on a positive note on Friday, amid mixed cues from Asian peers. US stocks settled on a muted note in overnight trade. All eyes are on corporate earnings amid inflation woes in the near term. 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 56.5 points, or 0.35 per cent, higher at 15,990, signaling that Dalal Street was headed for a positive start on Friday.

• Tech View: A bearish candle with upper and lower shadow signals a formation of a high wave type candle pattern, which reflects high volatility in the market. "Normally, a formation of such a pattern after a reasonable upside or decline indicates an impending trend reversal," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
• India VIX: The fear gauge declined almost a per cent to 18.34 level on Thursday over its close at 18.52 on Wednesday.

Asian shares trade mixed
Asian stocks traded mixed on Friday morning, as the tailwind from a cheaper yen was offset by worries over US inflation and investors awaited China's GDP data due later in the day. MSCI's index of Asia-Pacific shares outside Japan was down by 0.10 per cent.

• Japan's Nikkei jumped 0.52%
• Australia's ASX 200 tanked 1.09%
• New Zealand's DJ dropped 0.44%
• South Korea's Kospi gained 0.11%
• China's Shanghai added 0.10%
• Hong Kong's Hang Seng fell 0.54%

US stocks settle on a muted note
The S&P 500 pared early losses to close modestly lower on Thursday after investors digested disappointing quarterly results from two large US banks and hotter-than-expected inflation data.

• Dow Jones dropped 0.46% to 30,630.17
• S&P 500 tumbled 0.30% to 3,790.38
• Nasdaq advanced 0.03% to 11,251.19

Oil prices climb up
Oil prices rose in early Asian trading on Friday amid uncertainty around how aggressive the U.S. Federal Reserve will be in hiking interest rates to combat rampant inflation.

Brent crude futures for September delivery rose 80 cents, or 0.8 per cent, to $99.90 a barrel by 0007 GMT, while WTI crude rose 69 cents, or 0.7 per cent, to $96.47 a barrel.

FIIs buy shares worth Rs 309 cr
Net-net, foreign portfolio investors (FPIs) turned buyers of domestic stocks to the tune of Rs 309.06 crore, data available with NSE suggested. However, DIIs turned net sellers to the tune of Rs 556.4 crore, data suggests.

Stocks in F&O ban today
Only one stock - Delta Corp - is under the F&O ban for Friday, July 15. 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.

Q1 results today
Jindal Steel & Power, L&T Technology Services, Oberoi Realty, Federal Bank, Lloyds Metals & Energy, Just Dial, Den Networks, Kesoram Industries, Aditya Birla Money and Opto Circuits India are among the company that will announce their quarterly earning for the quarter ended June 2022.

Exports up 23.5% to $40.13 bn in June
Exports in June rose by 23.52 per cent to USD 40.13 billion while the trade deficit ballooned to a record level of USD 26.18 billion mainly due to jump in gold and crude oil imports, the government data said on Thursday.

The country's export growth in May was 20.55 per cent. Imports expanded by 57.55 per cent to USD 66.31 billion in June compared to the year-ago month, the data showed.

China's growth slumps to 0.4% in June quarter
China's economic growth hit a two-year low in the second quarter, official data showed Friday, with Covid-19 lockdowns and an embattled property market nudging a government target further out of reach.

The world's second-biggest economy grew 0.4 per cent in the April to June period, the National Bureau of Statistics (NBS) said, piling pressure on the Communist Party's leadership as it gears up for its 20th Congress, when President Xi Jinping is expected to be handed another five-year term.

MONEY MARKETS
Rupee: The rupee edged closer to the historic low of 80-mark against the US currency on Thursday as it declined by a little over 18 paise to settle at 79.9975 amid a stronger greenback in overseas markets.

10-year bonds: India 10-year bond jumped about 0.64 per cent to 7.38 after trading in 7.36 - 7.41 range on Thursday.

Call rates: The overnight call money rate weighted average stood at 4.67 per cent on Wednesday, according to RBI data. It moved in a range of 3.30-4.85 per cent.