SGX Nifty down 70 points; here's what changed for market while you were sleeping

The domestic equity market was set to open on a negative note tracking cues from US stocks, which settled lower in overnight trade, and bucking mixed cues from Asian peers. Stronger dollar and FII outflows are spooking traders. Back home, traders are awaiting the upcoming union Budget on February 1. Here's breaking down the pre-market actions:

STATE OF THE MARKETS

SGX Nifty signals negative start
Nifty futures on the Singapore Exchange traded 67.5 points, or 0.39 per cent, lower at 17,100, signaling that Dalal Street was headed for a negative start on Friday.

• Tech View: Nifty50 on Thursday respected its immediate support and attractive buying at low to eventually form a Hammer-like candle on the daily chart, which has a bullish connotation.
• India VIX: The fear gauge dropped more than a per cent to 21.06 level on Thursday over its close at 21.36 on Tuesday.

Asian shares trade mixed
Asian stocks opened higher on Friday, rebounding from sharp losses in the previous session but a few of them gave up their early gains. Traders struggled to cap a painful week on a slightly optimistic note as US rate hike fears hurt sentiment. MSCI's index of Asia-Pacific shares outside Japan was down by 0.06 per cent.

• Japan's Nikkei surged 1.89%
• South Korea's Kospi gained 0.72%
• Australia's ASX 200 zoomed 1.23%
• China's Shanghai dropped 0.25%
• Hong Kong's Hang Seng fell 0.71%

US stocks ended lower
Wall Street gyrated wildly on Thursday, the S&P 500 once again narrowly avoiding correction confirmation at the end of a session marked by a rally, selloff and recovery as investors juggled positive economic news with mixed corporate earnings, geopolitical unrest and the prospect of a more hawkish Federal Reserve.

• Dow Jones eased 0.02% to 34,160.78
• S&P 500 dropped 0.54% to 4,326.51
• Nasdaq tanked 1.40% to 13,352.78

Dollar set for sparkling week
The dollar was headed for its best week in seven months on Friday after breaking through key levels against the euro as traders priced in a year of aggressive US interest rate hikes.

• Dollar Index shot up to 97.250
• Euro slipped lower to $1.1131
• Pound was bought at $1.3360
• Yen dropped to 115.40 per dollar
• Yuan exchanged hands at 6.3606 against the greenback

FPIs sell shares worth Rs 6,267 cr
Net-net, foreign portfolio investors (FPIs) turned sellers of domestic stocks to the tune of Rs 6,266.75 crore, data available with NSE suggested. DIIs turned net buyers to the tune of Rs 2,881.32 crore, data suggests.

Q3 earnings today
Kotak Mahindra Bank, Larsen & Toubro, Vedanta, Britannia Industries, Dr Reddy's Laboratories, Marico, Info Edge, Bharat Electronics, Au Small Finance Bank, United Breweries, Oberoi Realty, Max Financial Services and Atul are among the companies that will announce their December quarter results today.

MONEY MARKETS
Rupee: Registering its third straight session of loss, the rupee on Thursday depreciated by 31 paise to close at an over four-week low of 75.09 against the US dollar, tracking the strength of the American currency after a hawkish US Fed policy stance.

10-year bonds: India 10-year bond spiked wildly 1.26 per cent to 6.74 after trading in 6.70 - 6.75 range on Thursday.