Indian equity indices, the BSE Sensex and the NSE Nifty 50, likely will track weak global cues on Friday, a day after ending lower. The Singapore-traded SGX Nifty 50 was trading lower, indicating a tepid start on the Dalal Street today.
Here is what you need to know before the market opens: Asia: Shares came under renewed pressure on Friday on renewed US-China trade war concerns. MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.2 percent in early trade while Japan's Nikkei .N225 dropped 0.8 percent. US: The rally in US stocks came to a halt on Thursday on new concerns that the US-Chinese trade dispute will intensify. The Dow Jones Industrial Average fell 137.65 points, or 0.53 percent, to 25,986.92, the S&P 500 lost 12.91 points, or 0.44 percent, to 2,901.13 and the Nasdaq Composite dropped 21.32 points, or 0.26 percent, to 8,088.36. Dollar index: The dollar stood firm against its peers on Friday, finding support as the latest round of U.S.-China trade tensions dulled investor risk appetite, with weakness in emerging market currencies also helping lift the greenback. The dollar index against a basket of six major currencies stood little changed at 94.721. Crude oil prices: Oil prices slipped slightly after hitting their highest levels in more than a month the previous day on growing evidence of disruptions to crude supply from Iran and Venezuela and after a fall in U.S. inventories. Brent crude oil dropped 0.3 percent to $77.51 a barrel from Thursday’s settlement at $77.77. U.S. crude stood down 0.3 percent at $70.04 a barrel. Market at close: The benchmark BSE Sensex closed down 0.08 percent at 38,690.10, while the broader NSE Nifty ended 0.13 percent lower at 11,676.8. Rupee: The US dollar ended higher against the rupee at 70.74/75 per dollar. DIIs & FIIs: Domestic institutional investors (DIIs) bought shares worth a net of Rs 1,114.36 crore, while foreign portfolio investors (FPIs) sold shares worth a net of Rs 1,415.87 crore yesterday. Demonetisation debate: Union finance minister Arun Jaitley on Thursday said the larger purpose of demonetisation was to move India from a tax non-compliant society to a compliant society. US warns India: The United States has sent out a clear warning to India over its defence deals with Russia. A top Pentagon official has warned that there is no guarantee of the US granting a waiver from sanctions if India purchases new major weapons from Russia. The warning comes a week before the historic '2+2' dialogue between US and India. Trade war concerns: US president Donald Trump said he was ready to impose more tariffs on $200 billion worth of goods from China as soon as the public comment period on the plan ends next week. Trump also threatened in an interview with Bloomberg on Thursday to withdraw from the World Trade Organization if “they don’t shape up.”
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