GIFT Nifty up 20 points; here's what changed for market while you were sleeping
«Nifty in the meantime is expected to remain in a narrow range with some stock-specific action in the broader market,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services.
Here's breaking down the pre-market actions:
STATE OF THE MARKETS
GIFT Nifty (Earlier SGX Nifty) signals a positive start
GIFT Nifty on the NSE IX traded 18.5 points, or 0.10 per cent, higher at 19,311.50, signaling that Dalal Street was headed for positive start on Friday.
- Tech View: For bulls, 19470 would act as an immediate resistance zone, and if the index is trading below the same, the weak sentiment is likely to continue and could retest the level of 19325-19300. On the flip side, post 19500 breakout the market could rally till 19600-19625.
- India VIX: India VIX, which is a measure of the fear in the markets, fell 0.23% to settle at 11.70 levels.
US stocks fall
The three major U.S. stock indexes ended down more than 1% each on Thursday, led by a drop in the Nasdaq after this week's sharp gains and as investors were nervous ahead of Federal Reserve Chair Jerome Powell's speech Friday.
- Dow down 1.1%;
- S&P 500 dips 1.4%,
- Nasdaq falls 1.9%
Asian shares decline
Asian stocks opened weaker after a selloff on Wall Street while Treasury yields stabilized after further upward pressure as traders await Jerome Powell’s speech for clues on the interest-rate outlook.
- S&P 500 futures rose 0.1% as of 9:20 a.m. Tokyo time. The S&P 500 fell 1.4%
- Nasdaq 100 futures rose 0.1%. The Nasdaq 100 fell 2.2%
- Hang Seng futures fell 0.8%
- Japan’s Topix fell 0.7%
- Australia’s S&P/ASX 200 fell 1.2%
- Euro Stoxx 50 futures fell 0.8%
Oil slips
Oil prices fell slightly in early Asian trade on Friday, on track for a weekly decline as weak manufacturing activity
