Domestic equities are likely to react to the outcome of the Modi-Trump meeting and the last set of Q3 earnings to be announced today.
STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded higher by 102.50 points, or 0.44 per cent, at 23,198, signaling that Dalal Street was headed for positive start on Friday.
- Tech View: The short-term trend of Nifty remains positive, but the market is lacking the strength to surpass immediate hurdles. A decisive move above 23,250 levels could confirm a near-term bottom reversal pattern in the market. Immediate support is placed at 22,800 levels
- India VIX: India VIX, which is a measure of the fear in the markets, rose 0.4% to settle at 14.96 levels.
US stocks end higher
The S&P 500 ended higher on Thursday, lifted by gains in Nvidia, Apple and Tesla, after U.S. President Donald Trump unveiled a roadmap for charging reciprocal tariffs on U.S. trading partners.
- S&P 500 +1.04%,
- Nasdaq +1.50%,
- Dow +0.77%
Asian shares gain
Asian equities were headed for gains on Friday as markets reacted positively to a delay in possible reciprocal US tariffs, raising the prospect for negotiations.
- S&P 500 futures were little changed as of 8:37 a.m. Tokyo time
- Hang Seng futures rose 0.4%
- Australia’s S&P/ASX 200 rose 0.7%
Gold steady
Gold prices held steady on Friday, and were poised for a seventh consecutive weekly gain, as U.S. President Donald Trump’s plans to impose reciprocal tariffs on every country taxing U.S. imports fuelled concerns of a global trade war.
Stocks in F&O ban today
1) Manappuram
Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.
FII/DII action
Foreign portfolio investors turned net sellers at Rs 2,790 crore on Thursday. DIIs bought shares worth Rs 2934 crore.
Rupee
The rupee settled almost flat with a gain of just 2 paise at 86.93 against the US dollar on Thursday as the support from soft American currency and easing crude oil prices overseas was negated by a lacklustre trend in domestic equities.
FII data
The net short of FIIs reduced from Rs 1.86 lakh crore on Wednesday to Rs 1.83 lakh crore on Thursday.
