Indian Indices:
The key domestic benchmark indices opened higher in the morning trading session tracking a mostly bullish trend across markets in Asia amid optimism that the US economy is strong enough to withstand higher interest rates, bolstering risk taking appetite.
Shares of Bata India and SpiceJet will be in focus today as the companies unveil their earnings data for the September 2016 quarter. The movement of the rupee, which hit a record low of 68.86 per dollar on Thursday will also influence sentiment on Dalal Street as fears of an imminent Fed interest rate hike will curb foreign capital inflows to emerging markets.
Indian equity benchmarks are likely to witness a positive opening on Friday, the first day of the December Futures & Options (F&O) contract series, tracking a mostly bullish trend across markets in Asia amid optimism that the US economy is strong enough to withstand higher interest rates, bolstering risk raking appetite. SGX Nifty is trading 54.00 points higher.
Indian shares dropped on Thursday, as a fall in the rupee to a near record low dented sentiment at a time when investors are already worried about how demonetisation will affect economic growth. The S&P BSE Sensex and CNX Nifty fell 0.74%-0.84%.
The 30—share Sensex slumped by 191.64 points or by 0.74% to 25,860.17 the NSE Nifty closed at 7,965.5, down by 67.8 points or by 0.84%
On the global front, Asian stocks were trading higher today even as speculation of a December Fed interest rate hike continued to rise. US stocks were closed in the previous trading session due to the Thanksgiving Holiday.
Global Market:
Asian stocks steadied on Friday as the Thanksgiving break in the United States pegged the dollar's relentless surge that had sucked capital out of most emerging markets.
European stocks opened higher Thursday morning as economic data give more emphasis to a US rate hike and market liquidity is scarce due to the Thanksgiving holiday.
Major Headlines of the day:
• PE investments down 23%to $10 b in Jan-Oct
• LT Foods inks JV with Japanese snacks maker Kameda Seika
• Natco Pharma gets USFDA nod for generic Budesonide capsules
• JSW group plans to make electric cars.
Trend in FII flows: The FIIs were net buyers of Rs -2010.15 Cr in the cash segment on Thursday while the DIIs were net sellers of Rs 1648.22 Cr, as per the provisional figures.
UPCOMING RESULTS:
BATAINDIA, BEML, ICIL, UFLEX, NAVKARCORP, HATHWAY, SHILPAMED, TIDAWATER, MANPASAND, SUVEN.
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