Market Movers: What changed for the D-Street while you were sleeping

NEW DELHI: Confusion over progress in the US-China trade negotiations is having a bearing on Asian shares, which consolidated early Friday. Back home, all eyes are on the depreciating rupee, which has the potential to reverse recent foreign inflows.

Let us check out what may move market all through the day:

TRADE SETUP

Singapore trading sets stage for positive start
Nifty futures on the Singapore Exchange were trading 16 points, or 0.14 per cent, higher at 11,701, indicating a positive start for the Nifty50.

Tech view: Nifty forms bearish candle
Nifty50 has broken the rising channel support line, suggesting weakening of the uptrend, said Aditya Agarwala of YES Securities. “A sustained trade below 11,540 level can extend the correction to 11,480-11,405 levels. However, a sustained trade above 11,660 can resume the upward move and taking Nifty higher to 11,760 and 11,800 levels.”

Asian shares consolidate
Asian share markets consolidated weekly gains on Friday as Sino-US talks dragged on with no concrete conclusions, while caution ahead of US payrolls and a holiday in China and Hong Kong dampened volatility. MSCI‘s broadest index of Asia-Pacific shares outside Japan was little changed. Japan’s Nikkei added 0.1 per cent.

US stocks ended higher
The Dow Jones Industrial Average climbed 166.50 points, or 0.64 per cent, to 26,384.63. The S&P500 index edged 5.99 points, or 0.21 per cent, higher to 2,879.39. The Nasdaq Composite index fell 3.77 points, or 0.05 per cent, to 7,891.78.

Oil prices edge lower
Oil prices fell on Friday, with Brent slipping away from the $70 mark after briefly rising above that level in the previous session, as traders fretted about progress in US-China talks to end a trade war.

International benchmark Brent futures dropped 23 cents, or 0.3 per cent, to $69.17 a barrel.

Polycab India IPO to kick off today
Polycab India, the largest manufacturer of wires and cables in terms of revenues, kicked

Read More Here...

Bookmark the permalink.