SGX Nifty up 30 points; here's what changed for market while you were sleeping

Domestic equity markets may open with mild gains on Friday, tracking global action. US Stocks posted mild gains over earrings euphoria, whereas Asian stocks were up too, despite early losses. All eyes are set on the Fed's meeting next week, after rate hikes in Europe. Back home, Reliance's Q1 earnings would keep traders on the edge. 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 31.5 points, or 0.19 per cent, higher at 16,649, signalling that Dalal Street was headed for a positive start on Friday.

• Tech View: Nifty50 on Thursday settled above 16,600 level for the first time since June 2, taking its winning streak to the fifth trading session. The index formed a bullish candle on the daily chart that engulfed the previous session's bearish candle, negating the latter's negative impact.
• India VIX: The fear gauge gained mildly, less than a per cent, to 16.86 level on Thursday over its close at 16.82 on Wednesday.

Asian shares trade mostly up
Most of the Asian stocks stocks reversed earlier losses and emerged above water in Friday morning trade, following a surprise aggressive rate hike by the European Central Bank. MSCI's index of Asia-Pacific shares outside Japan was up by 0.29 per cent.

• Japan's Nikkei jumped 0.26%
• Australia's ASX 200 shed 0.05%
• New Zealand's DJ gained 0.29%
• South Korea's Kospi declined 0.33%
• China's Shanghai advanced 0.34%
• Hong Kong's Hang Seng added 0.63%

US stocks settled higher
Wall Street's main indexes rose on Thursday boosted by a late-afternoon rally and gains in heavyweight growth stocks, including Tesla. Stocks extended their winning streak and the gains came amid a deluge of news about the economy, interest rates and corporate profits.

• Dow Jones gained 0.51% to 32,036.9
• S&P 500 jumped 0.99% to 3,998.95
• Nasdaq zoomed 1.36% to 12,059.61

Oil prices held steady
Oil prices were roughly unchanged in early trading on Friday after sliding around 3 per cent in the previous session on weakened demand in the United States, the world's top oil consumer, and a pick-up in supply from Libya.

Brent crude futures rose 17 cents, or 0.2 per cent, to $104.03 a barrel at 0041 GMT, while US West Texas Intermediate (WTI) crude futures were flat at $96.35 a barrel.

FIIs buy shares worth Rs 1,799 cr
Net-net, foreign portfolio investors (FPIs) turned buyers of domestic stocks to the tune of Rs 1,799.32 crore, data available with NSE suggested. However, DIIs turned net sellers to the tune of Rs 312.29 crore, data suggests.

Stocks in F&O ban today
Two stocks- RBL Bank and Delta Corp- are under the F&O ban for Friday, July 22. 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
Reliance Industries, UltraTech Cement, JSW Steel, Bandhan Bank, HDFC Asset Management, Crompton Greaves Consumer, Atul, Coforge, HFCL, Mahindra CIE Automotive, Vardhman Textile, Finolex Industries and Supreme Petrochem are among the companies that will announce their earnings for the quarter ended June 2022.

MONEY MARKETS
Rupee: The rupee recovered from its all-time low of 80.06 to close 20 paise higher at 79.85 against the US dollar on Thursday following overall weakness in crude oil prices and fresh foreign fund inflows.

10-year bonds: India 10-year bond dropped about 0.12 per cent to 7.44 after trading in 7.44 - 7.47 range on Thursday.

Call rates: The overnight call money rate weighted average stood at 4.76 per cent on Wednesday, according to RBI data. It moved in a range of 3.30-4.90 per cent.