SGX Nifty down 10 points; here's what changed for market while you were sleeping

Indian equities may extend gains to the fifth trading session, but sustenance of the same will hinge upon the corporate earnings, as several index heavyweights, including Reliance Industries.

Here's breaking down the pre-market actions:

STATE OF THE MARKETS

SGX Nifty signals a muted start
Nifty futures on the Singapore Exchange traded 9.5 points, or 0.05 per cent, lower at 17,510.50, signaling that Dalal Street was headed for a muted start on Friday.

• Tech View: The Nifty 50 is trading near strong resistance levels, and needs to breach them and move higher. The upside momentum will pick up if the Nifty crosses the immediate resistance of 17608 points.
• India VIX: The improving sentiment has further cooled off volatility in the market. The index on Thursday ended 1.5% down at 17.2325 points.

Asian equities retreat
Stocks in Asia dropped following after another down day for US equities, with Treasury yields at the highest level since the global financial crisis. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.55% but above the two-and-a-half year low it touched on Thursday.

• Nasdaq 100 futures were down 0.9%. The Nasdaq 100 fell 0.5%
• Japan’s Topix index dropped 0.5%
• South Korea’s Kospi index slipped 0.1%
• Australia’s S&P/ASX 200 Index declined 0.9%
• Hong Kong’s Hang Seng futures added 0.6%

Wall Street ends lower on Fed worries
U.S. stocks closed lower on Thursday as data on the labor market and comments from a U.S. Federal Reserve official reinforced expectations the central bank will be aggressive in hiking interest rates outweighed a flurry of solid corporate earnings.

• Dow down 0.3%
• S&P 500 slips 0.80%
• Nasdaq dips 0.61%

Oil prices trade flat
Oil prices were near flat on Friday, as market participants weighed concerns about steep inflation with optimism that China could see energy demand tick up.

Brent crude futures lost 5 cents to trade at $92.33 a barrel by 00:02 GMT. U.S. West Texas Intermediate futures rose 7 cents to trade at $84.58 a barrel. Brent was on track for a weekly gain of 0.7%, while WTI was expected to fall 1.3%.

Sterling dips after Truss resigns
Sterling edged lower on Friday as investors digested the news that British Prime Minister Liz Truss had quit after just six weeks in office, while the Japanese yen languished near a fresh 32-year low.

• US dollar index up 0.03% to 112.97
• Pound dipped 0.21% to $1.1215
• Euro fell 0.15% to $0.97725
• Yen last bought 150.20 per dollar
• Aussie fell 0.18% to $0.6272
• The kiwi traded 0.22% lower at $0.56625

FII/DII action
For the first time after several days, foreign portfolio investors (FPIs) turned net buyers of domestic shares. They net bought shares worth Rs. 1,865 crores, provisional data available with NSE suggested. DIIs on the other hand, turned net sellers of stocks to the tune of Rs. 887 crores.

Stocks in F&O ban today
5 stocks are in ban. Bharat Heavy Electricals, Delta Corp, Indiabulls Housing Finance, India Cements, and Zee Entertainment Enterprises remain under the F&O ban for Friday, October 21. 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.

Rupee: After breaching the psychologically-crucial level of 83 on Wednesday, the rupee rebounded and ended at 82.7600 against the dollar.

Earnings Friday
102 companies are scheduled to report earnings for the quarter ended September. Bajaj Finserv, HDFC Life Insurance Co, Hindustan Unilever, JSW Steel, and Reliance Industries are among the major ones.

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