Market Movers: 10 things to know before you make your opening trade on Friday

Selling pressure from foreign institutional investors pushed benchmark indices lower on Thursday. The S&P BSE Sensex saw a cut of over 300 points, while the Nifty50 closed below 18300-level.

The banking index — the Nifty Bank hits a new record high to breach 40150-level for the first time, the surge mainly came from Kotak Mahindra Bank, which closed as top gainer up around 7 per cent at the market close. 

See Zee Business Live TV Streaming Below:

As many as 21 stocks advanced and 29 declined on the Nifty50 index at the market close today. On the back of weak margins, Asian Paints declined most by around 5 per cent, followed by Hindalco, which dipped almost 4 per cent and Reliance Industries slipped by over 2.5 per cent at the market close.   

Motilal Oswal Financial Services’ Vice President -Analyst-Derivatives Chandan Taparia said, “The Nifty opened positive but failed to hold 18350 and nosedived to 18048 levels. It formed a Bearish candle on daily scale with longer lower shadow and forming lower lows from the last three sessions.”

“However, it witnessed recovery of around 100 points from lower levels but finally closed the day with losses of around 90 points,” Taparia said, adding further “Now it has to cross and hold above 18250 levels, to witness an up move towards 18350 and 18450 zones while on the downside support exists at 18050 and 17947 marks.”

According to Motilal Oswal analysts, “India VIX fell by 1.50 per cent from 18.31 to 18.03 levels. Volatility slightly cooled down but spike in volatility from last few sessions suggests volatile moves in the market. Now VIX needs to cool down below 15-14 zones to continue the smooth market ride.”

Stay tuned to Zeebiz.com to find out what could impact your trade today. We have collated a list of top 10 news points which could impact markets, companies, or economy: 

Global Markets

On the Wall Street, the S&P 500 Index gained 0.30% to close at while the Dow Jones Industrial Average closed marginally lower (lost 0.02%). Similarly, the pan-European STOXX 600 index lost 0.077% on Thursday.

Asian Markets

The Nikkei 225 in Japan on Friday opened with a positive bias and was trading higher by 0.74 per cent while the Hang Seng Index was trading 0.10% above the previous closing at around 7:40 am IST.

SGX Nifty

SGX Nifty opened in the green and gained 0.63% by 7.40 am IST.

Oil slips $2 post hitting multi-year high

Oil tumbled $2 after hitting a three-year high above $86 a barrel on Thursday, as a forecast for a warm US winter put the brakes on a rally driven by tight supply and a global energy crunch.

Winter weather in much of the United States is expected to be warmer than average, according to a National Oceanic and Atmospheric Administration released Thursday morning.

Brent crude fell $2.31 to $83.51 at 11:37 a.m. EDT (1537 GMT), after reaching a session high of $86.10, highest since October 2018. U.S. West Texas Intermediate crude fell $2.40 to $81.02.

India’s GDP may grow by 10.5% in FY22: Niti Aayog VC

Indian economy is expected to grow 10.5 per cent or more in the current fiscal, Niti Aayog Vice Chairman Rajiv Kumar said on Thursday. Speaking at a virtual conference of PAFI India, he also said that modernisation of the retail sector is very much on the cards.

"India Purchasing Managers' Index (PMI) for both manufacturing and services have shown a very smart uptick last month. This (Indian economy) will strengthen even further," he said. "I expect Indian economy to grow 10.5 per cent or higher in FY22.”

Rupee ends flat at 74.87 vs US dollar

The rupee settled just 1 paisa higher at 74.87 against the US dollar on Thursday amid a bearish trend in domestic equities and a strong greenback overseas.

Forex traders said foreign fund outflows, strengthening of the dollar and firm crude prices in the international market restricted the appreciation bias in the local currency.

At the interbank forex market, the local unit opened at 74.86 against the greenback, and moved in a range of 74.69 to 74.89 during the session. It finally ended at 74.87, registering a rise of just 1 paisa over its previous close.

Mindtree Case: SEBI penalises 2 persons 

Markets regulator SEBI on Thursday penalised two persons for violating insider trading norms with respect to shares of Mindtree Ltd.

Through two separate orders, the watchdog imposed a fine of Rs 1 lakh each on Uday Kiran Lingamaneni and Virat Kumar Yerramalla, who were employees of Mindtree at the time of violation.

SEBI noted that Lingamaneni and Yerramalla had transacted in the scrip of the company on multiple occasions, including during the investigation period (January-March 2019).

Investments via P-notes stand at Rs 97,751 cr till Sept

Investments in Indian capital through participatory notes (P-notes) were at Rs 97,751 crore till September-end, and going forward inflow is expected to remain positive.

P-notes are issued by registered foreign portfolio investors (FPIs) to overseas investors who wish to be a part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process.

According to Securities and Exchange Board of India data, the value of P-note investments in Indian markets -- equity, debt and hybrid securities -- was at Rs 97,751 crore by September-end compared to Rs 97,744 crore by August end.

Evergrande shares fall as China's biggest corporate failure looms 

Shares in struggling Chinese property giant Evergrande have fallen sharply after plans to offload a stake in one of its units for $2.6 billion fell through, casting further doubt over whether it can avert the country's biggest-ever corporate failure, The Guardian reported.

The China Evergrande Group, the parent company for the sprawling empire built by a former steel industry executive, was down more than 10 per cent in Hong Kong at midday on Thursday. Evergrande Property Services, one of its most profitable units, was off by 6.45 per cent.

Evergrande announced on Wednesday that it had formally abandoned plans to sell a 50.1 per cent slice of Evergrande Property Services, saying there was "no guarantee" it could meet its financial obligations in order to stay afloat, the report said. 

FIIs & DIIs Data:

Foreign portfolio investors (FPIs) remained net sellers for Rs 2818.9 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 428.45 crore, provisional data showed on the NSE.

Stocks under F&O ban on NSE  

Ten stocks – Amara Raja, Escorts, Idea, IRCTC, L&T Finance, NALCO, PNB, SAIL, Sun TV and Tata Power - are under the F&O ban. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.

(With inputs from PTI, Reuters and other agencies)

(Disclaimer: The views/suggestions/advices expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)