Indian Indices:
Indian shares are likely to witness a bearish start on Friday morning as the global markets look weak with SGX Nifty trading 74 points lower @9998.50.The markets are likely to witness a gap-down opening in Friday's trade taking lead from Asian markets which sagged after US tech shares retreated from recent rallies, pulling back Wall Street slightly lower.
Back home, investors will also react to June quarter results of companies like Idea Cellular, ONGC, ITC and ICICI Bank, which reported their numbers on Thursday post market hours. Nifty50 has support placed in the region of 9,920-9,930, and if this support is breached, the next support is seen at levels of 9,880 and 9,840. On the way up, the level of 10,100-10,120 will act as a key resistance zone for the Nifty50.Nifty50 has support placed in the region of 9,920-9,930, and if this support is breached, the next support is seen at levels of 9,880 and 9,840. On the way up, the level of 10,100-10,120 will act as a key resistance zone for the Nifty50.
Bank Nifty has opened at 24744 level, down by 178 points. ITC was the top Sensex gainer trading at Rs 293 per share, up by 1.52% whereas Dr Reddy’s was the top Sensex loser trading at Rs 2505 per share, down by 4.44%.
On the broader markets, BSE Mid-cap index was trading at 15221 level, down by 0.23% and BSE Small-cap index was trading at 15980 level, up by 0.22%. S&P BSE Sensex opened marginally lower by 2 points at 32381, while the Nifty50 opened lower by 23 points at 9996 mark.
Global Market:
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.8% but was still on track for a 0.4% weekly gain, with Samsung Electric, Asia's largest company by market capitalization, dropping 3.5%. The US stocks ended on a mixed note on Thursday, with the Nasdaq and S&P 500 pulling back into negative territory, while the Dow Jones Industrial Average ending at a record close. The Dow ended at 21,797, higher by 86 points. The Nasdaq Composite Index closed, down by 41 points at 6,382. The S&P 500 edged down 2 points to 2,475.
Japan's Nikkei shed 0.4%, China's Shanghai Composite and Hong Kong's Hang Seng indices were down 0.1% and 0.5%, respectively. A swoon in technology and transportation shares led the S&P 500 slightly lower on Thursday on a day full of corporate earnings reports, but the Dow industrials set a record closing high, helped by a jump in Verizon
Asian stocks are trading in a negative terrain in early trade on Thursday. Japan’s Nikkei 225 has slipped 98 points. Hong Kong's Hang Seng has shed 113 points and China’s Shanghai Composite has lost 7 points.
Major Headlines of the day:
• ICICI Bank Q1 net rises 25% QoQ to Rs2,605 cr.
• Biocon Q1 profit drops 51% to Rs81 crore.
• Crude oil rises on falling US crude supplies.
Trend in FII flows: The FIIs were net buyers of Rs 1869.92 the cash segment on Thursday while the DIIs were net sellers of Rs -660.03 as per the provisional figures.
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