Updated : April 16, 2021 08:03 AM IST
The Indian market is likely to open flat on Friday as the trend on SGX Nifty indicates a flat start for the broader index in India. The Nifty futures were trading 15.00 points or 0.10 percent lower at the 14,604.50 level on the Singaporean Exchange at 7:20 am. Positive global cues may support the market, but worries over the economic fallout due to sustained rise in COVID-19 infection cases in the country may reduce risk-appetite.
1. Wall Street: Stocks rallied to more record highs on Wall Street as a suite of stellar data suggested the recovery for the economy and corporate profits is accelerating. The S&P 500 rose 1.1 percent Thursday and the Dow Jones Industrial Average added 0.9 percent, both reaching all-time highs. And Nasdaq surged 1.3 percent. 2. Asian stocks: Shares in APAC were mixed in Friday morning trade as investors await the release of Chinese economic data. Mainland Chinese stocks were higher as the Shanghai composite gained 0.3 percent. Hong Kong’s Hang Seng index was little changed. The Nikkei 225 in Japan rose 0.12 percent. South Korea’s Kospi was fractionally lower. Australian stocks slipped as the S&P/ASX 200 declined 0.12 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.12 percent lower. 3. D-Street: Indian indices ended higher after a volatile session on Thursday boosted by banking, metal and pharma stocks. A recovery in IT stocks from day’s low also lifted the benchmarks. The Sensex ended 259 points higher at 48,803 and the Nifty rose 77 points to settle at 14,581. 4. Crude oil: Oil prices held near a one-month high on Thursday following positive US economic data and higher demand forecasts from the International Energy Agency (IEA) and OPEC as countries start to recover from the COVID-19 pandemic. Brent futures rose 0.1 percent to $66.62 a barrel by 11:47 a.m. EDT (1547 GMT), and the US WTI crude fell 0.1 percent, to $63.08. 5. Rupee: The rupee recouped its early losses to close higher by 12 paise at 74.93 against the dollar on Thursday, snapping its six-session losing streak on the back of gains in the domestic equity market and easing crude oil prices. At the interbank forex market, the rupee opened weak at 75.19, but recovered lost ground and finished 12 paise higher over its previous close of 75.05. 6. Gold: Gold jumped Rs 159 to Rs 46,301 per 10 gram in the national capital on Thursday reflecting a recovery in international precious metal prices. Silver also gained Rs 206 to Rs 67,168 per kilogram from Rs 66,962 per kilogram in the previous trade. In the international market, gold was trading with gains at USD 1,745 per ounce and silver was flat at USD 25.52 per ounce.
Published : April 16, 2021 08:03 AM IST