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

The Indian stock market on Thursday ended the trading session on a negative note with a massive sell-off led by FIIs. The S&P BSE Sensex cracked over 1150 points while the Nifty50 closed below 17900-level.

Palak Kothari Research Associate Choice Broking says, “On a monthly expiry day, the Index opened on a negative note and showed weakness through the session and closed the session below 18000 marks at 17857.25 with a huge loss of 353 points.”

While the Bank nifty also traded in red and ended the session at 39508.95 levels with a loss of 1365 points. VIX is also closed with a gain of 6.42 per cent at 17.91 level. All the sectoral indices ended in the red with Energy, PSU Bank, Metal, Realty, Oil & Gas, Power, Pharma indices down 2-3 percent. 

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Despite the fall, some stocks like Indusind Bank, Larsen & Toubro, Ultratech Cement and Asian Paints were top gainers while Adani Ports, ITC, ONGC, ICICI Bank and Kotak Bank were top losers. 

“On the technical front, the index has given a breakdown of the falling trendline as well as the horizontal level which points out a weakness in the counter for upcoming days, Kothari says. 

Additionally, the Index has formed a Bearish Marabozu kind of candle on the daily chart, which points out sellers are quite active. Moreover, the price also moved below the 21 days SMA, which suggests a lower trend for the next trading day, Choice Broking Research Associate points out.

Kothari added, “A momentum indicator MACD & Stochastic suggested negative crossover on the daily time-frame, which confirmed a bearish move for the upcoming session. At present, the Index has support at 17690 level while resistance comes at 18180 levels.”

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 the economy:  

Global Markets

Global equities moved toward record highs on Thursday and U.S. Treasury yields rose as investors discounted weak U.S. economic growth data to retain their focus on strong corporate results and interest rate expectations amid rising inflation.

The MSCI All World Stock Index rose 0.71% to 746.98 points, barely below its lifetime high of 749.16 points hit last month.

In Europe, the STOXX index of 600 companies pared back earlier losses and rose 0.24% to 475.16 after the European Central Bank left its monetary policy unchanged, as widely expected.

The yield on the U.S. 20-year bond on Thursday rose slightly above the 30-year bond yield for the first time, according to traders, a move that garners attention because of investor sensitivity to inverted yield curves that can be a harbinger of recession.

On Wall Street, the Dow Jones Industrial Average rose 0.68% to 35,730.48, the S&P 500 gained 0.98% to 4,596.42 and the Nasdaq Composite added 1.39% to 15,448.12.

Asian Markets

The Nikkei 225 in Japan on Friday opened with a negative bias and was trading lower by 0.75 per cent while the Hang Seng Index was trading below 0.62 per cent the previous close at 7:30 AM IST.

SGX Nifty

SGX Nifty opened in the green and gained nearly 0.81% by 7.30 AM IST.

Oil drops more than 1% as U.S. stockpiles rise sharply

Oil prices slumped to their lowest in two weeks on Thursday after Iran said talks with world powers on its nuclear programme would resume by the end of November and U.S. crude inventories rose by much more than expected.

Brent crude was 69 cents, or 0.8%, lower at $83.89 a barrel by 1325 GMT, having hit a two-week low of $82.32 earlier and fallen by 2.1% in the previous session.

U.S. West Texas Intermediate (WTI) crude was down 53 cents, or 0.6%, at $82.13 having earlier touched a two-week low of $80.58 and dropped 2.4% on Wednesday.

Iran’s top nuclear negotiator Ali Bagheri Kani on Wednesday said the country`s talks with six world powers to try to revive a 2015 nuclear deal will resume by the end of November.

Govt gets Rs 413 cr as dividend from 5 CPSEs

The government has received Rs 413 crore as dividend tranches from five CPSEs, including NLC and NALCO. "Government has received Rs 78 crore and Rs 165 crore respectively from Antariksh corp and NLC as dividend tranches," DIPAM Secretary Tuhin Kanta Pandey tweeted.

Besides, NBCC, Cochin Shipyard Ltd and NALCO have paid Rs 52 crore, Rs 24 crore and Rs 94 crore, respectively, as dividend tranches to the government.

As per the Department of Investment and Public Asset Management (DIPAM) website, so far in the current financial year (April-March) the government has received Rs 15,651 crore as dividend from central public sector enterprises (CPSEs).

Rupee gains 11 paise

The rupee gained 11 paise to close at 74.92 (provisional) against the US dollar on Thursday despite massive sell-offs in the domestic equity market as easing crude oil prices lent some support to the local currency.

At the interbank forex market, the domestic unit opened at 74.92 against the greenback and witnessed an intra-day high of 74.76 and a low of 74.94 during the day's trade. It finally ended at 74.92 a dollar.

On Wednesday, the rupee had declined by 7 paise to close at 75.03 against the US currency. The dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.10 per cent to 93.89.

Sebi releases norms for investment, trading by AMCs' employees

Markets regulator Sebi on Thursday came out with a new framework for investment and trading in securities by employees of Asset Management Companies (AMCs) and trustees of mutual funds.

The framework will help in avoiding any actual or potential conflict of interest or any abuse of an individual's position of trust and responsibility.

In a circular, the Securities and Exchange Board of India (Sebi) said it has tweaked the guidelines pertaining to 'access person' and 'cooling off' period of such a person in respect of investments made by them in securities traded through the secondary markets.

Inflation could singe Indian consumers as manufacturers hike prices

Indian manufacturers are raising prices to pass on to consumers some of the burden of costlier energy and raw materials, which threatens to dent demand as well as a recovery from the COVID-19 pandemic, business leaders and economists say.

Prices of items from tea, coffee and biscuits to toothpaste and electric components have risen 4% to 10% in the last quarter, while construction supplies, such as cement and sanitary ware, have added as much as a fifth, they said.

Big companies such as Hindustan Unilever, Nestle, Procter & Gamble, Ambuja Cement and Kajaria Ceramics, have blamed the increases on higher costs of oil and other raw materials.

Nykaa IPO subscribed 1.55 times on first day of offer 

The initial share-sale of FSN E-Commerce Ventures Ltd, which runs an online marketplace for beauty and wellness products Nykaa, was subscribed 1.55 times on the first day of subscription on Thursday.

The Rs 5,352 crore IPO received bids for 4,09,73,280 shares against 2,64,85,479 shares on offer, as per NSE data.

The category for Qualified Institutional Buyers (QIBs) received 1.39 times subscription and that for retail individual investors (RIIs) 3.50 times, while the portion meant for non-institutional investors was subscribed 60 per cent.

FII & DII Data

Foreign portfolio investors (FPIs) remained net sellers for Rs 3818.51 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 836.6 crore, provisional data showed on the NSE.

Stocks under F&O ban on NSE  

No stock under the F&O ban on Friday. 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.)