SGX Nifty down 110 points; here's what changed for market while you were sleeping

Domestic equities are likely to remain subdued amid the renewed concerns over the COVID wave in China. Positioning in the options of Nifty 50 indicates major support at 18000 level as that strike price put option holds the second highest open interest. If broken, then the next level is 17800 points.

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 113 points, or 0.62 per cent, lower at 18,065, signaling that Dalal Street was headed for a negative start on Friday.

• Tech View: Nifty 50 formed a long negative candle on the daily chart and indicated that the downward trend might continue amid capped movement.
• India VIX: The ‘fear gauge’ ended 2.4% down at 15.19 points on Thursday, but the prevailing subdued sentiment suggests the volatility gauge could move higher.

US stocks tumble
Wall Street's major averages closed lower on Thursday with technology-heavy Nasdaq's 2% drop leading losses as investors worried that data showing a resilient economy would lead the U.S. Federal Reserve to keep hiking interest rates for longer than feared.

• S&P 500 down 1.5%
• Dow lost 1.1%
• Nasdaq dips 2.2%

Asian stocks slip
Asian shares eased on Friday, tracking a dive on Wall Street, while the dollar firmed as strong U.S. data revived fears the Federal Reserve will have to retain its hawkish stance to tame inflation. MSCI's broadest index of Asia-Pacific shares outside Japan slid 0.69%, snapping a two-day winning streak.

• S&P 500 futures were little changed as of 9:07 a.m. Tokyo time. The S&P 500 closed 1.5% lower
• Nasdaq 100 futures fell 0.1%. The Nasdaq 100 fell 2.5%
• Japan’s Topix fell 0.8%
• Australia’s S&P/ASX 200 fell 1%
• Hang Seng Index futures fell 2.1%

Dollar on front foot
The dollar was on the front foot on Friday, as solid U.S. economic data reinforced the need for the Federal Reserve to stay on its aggressive monetary policy tightening path and further raised the odds of higher-for-longer rates.

Oil climbs
Oil prices rose on Friday on expectations of lower Russian crude exports from the Baltic region in December, offsetting worries that a looming Arctic storm across the United States could snuff out transport fuel demand growth this holiday season. Brent crude rose 88 cents, or 1.1%, to $81.86 a barrel by 0148 GMT, while U.S. West Texas Intermediate crude was at $78.41 a barrel, up 92 cents, or 1.2% higher.



FII/DII action
Foreign portfolio investors (FPIs) on Thursday net brought shares worth Rs 929 crore, provisional data showed. DIIs net bought shares to the tune of Rs 2,207 crore.

Stocks in F&O ban today
Indiabulls Housing Finance. 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: The Indian unit closed slightly higher at 82.7800 per dollar on Thursday, versus its previous close of 82.8200 per dollar.

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