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Stock Market Today: SGX Nifty, Asian markets, dollar index, oil prices, corporate actions & more

Business Today logo Business Today 09-12-2022 Aseem Thapliyal
Stock Market Today: SGX Nifty, Asian markets, dollar index, oil prices, corporate actions & more © Provided by Business Today Stock Market Today: SGX Nifty, Asian markets, dollar index, oil prices, corporate actions & more

Sensex and Nifty are likely to open on a positive note in Friday's trade, tracking strong cues in the US and Asian markets.

Dollar lost ground while oil prices rose in early trade. Here's what you should know before the Opening Bell:

Nifty outlook

Rupak De, Senior Technical Analyst at LKP Securities said,"For any meaningful directional move Nifty needs to go below 18,500 decisively or above 18,700 on a sustain basis. Support below 18,500, is pegged at 18,350/18,200. On the other hand, above 18,700, resistance is visible at 18,900."

Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities said, "Technically, the inside body candle on daily charts is indicating non directional activity and indecisiveness between the bulls and bears. For bulls, 18675 would be the important breakout level to watch out for. And above the same, we can expect a quick uptrend rally up to 18800-18835.  On the flip side, trading below 18500 may fuel further weakness up to 18435-18400."

SGX Nifty signals at positive start

Nifty futures on the Singapore Exchange were trading higher, signaling a positive start for the market on Friday. Nifty futures were trading 74 points higher at 18,802 today.

Asian markets in green

Asian markets were trading in the positive territory. Nikkei was up 334 points to 27,909, Taiwan weighted index gained 114 points to 14,667 and Kospi rose 13 points to 2384. Hang Seng gained 29.18 points to 19,479.

US markets

The S&P 500 ended a five-day losing streak on Thursday, led by a rally in technology stocks. However, the major indexes remain on pace for a weekly loss.

The S&P 500 rose 29.59 points to 3,963.51. The Nasdaq gained 123.45 points to 11,082, and the Dow rose 183.56 points to 33,781.48.

Also Read: Share Market News Live: Sensex, Nifty set to open higher on global cues; Paytm, Sun Pharma, HUL in focus

Oil prices

Brent crude futures were marginally higher at $76.68 per barrel, up 0.21%. On the other hand, US Crude futures stood at $72.09 per barrel, higher by 0.88%.

Dollar index on Friday

The index was trading on the lower side post bullish action in the US markets. It fell 0.15% to 104.63, signaling the US currency's weakness in early trade

Stocks in F&O ban

Shares of Gujarat Narmada Valley Fertilizers Chemicals Ltd and Indiabullls Housing Finance are banned in the F&O segment today. Derivative contracts in a security are banned when it crosses 95 per cent of the market-wide position limit (MWPL). No new positions can be created in the derivative contracts of said security. This prohibition is lifted when the open interest in the stock drops below 80 per cent of the MWPL across exchanges.

FII/ DII action on Thursday

Provisional data available with NSE suggests FIIs were net sellers of domestic stocks to the tune of Rs 1131.67 crore on Thursday. On the other hand, domestic institutional investors (DIIs) were buyers of equities to the tune of Rs 772.29 crore.

Rupee closes marginally higher

The rupee consolidated in a narrow range and ended 3 paise higher at 82.44 against the US dollar. At the interbank foreign exchange market, the local unit opened at 82.34 and touched an intra-day high of 82.26 and a low of 82.47 against the greenback.

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