The Indian market is expected to track weak global cues amid lingering US-China trade war concerns.
The Indian market is expected to track weak global cues amid lingering US-China trade war concerns. The Singapore-traded SGX Nifty Future's was weak by 0.34 percent at 11,564.
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Here is what you need to know before the market opens today:
Asia: Stocks tracked Wall Street losses and edged down in early trade on Friday. MSCI’s broadest index of Asia-Pacific shares outside Japan shed 0.18 percent. Australian stocks rose 0.16 percent, South Korea's KOSPI fell 0.35 percent and Japan's Nikkei climbed 0.35 percent.
US: The Dow Jones Industrial Average fell 76.62 points to 25,656.98. The S&P 500 lost 4.84 points to 2,856.98 and the Nasdaq Composite dropped 10.64 points to 7,878.46.
Dollar index: The dollar index against a basket of six major currencies stood at 95.663, holding its gains after rising 0.55 percent overnight to snap a six-day losing run. The greenback extended its overnight surge to touch a two-week high of 111.41 yen. The euro was steady at $1.1538 after retreating 0.5 percent the previous day.
Crude oil: Brent crude futures were flat at $74.73 per barrel, while US crude inched down a cent to $67.82.
Market at close: BSE Sensex closed higher by 51.01 points to 38,336.76, while the Nifty 50 rose 11.85 points to close at 11,582.75. In intraday trade, the Sensex surged 201.88 points to a new record high of 38,487.63 and the Nifty 50 rose 49.8 points to an all-time high of 11,620.70.
Rupee: The Indian currency ended at 70.11 per dollar, a loss of 30 paise or 0.43 percent over the previous close. In day trade, the rupee had crumbled to a session low of 70.17 per dollar. The rupee suffered its the biggest single-day drop in past one week, snapping a two-straight session recovery trend.
FII & DII data: Foreign institutional investors (FIIs) bought shares worth Rs 433.21 crore and domestic institutional investors Rs 142 crore in the Indian equity market on Thursday.
Trade war: US and Chinese officials ended two days of talks on Thursday with no major breakthrough as their trade war escalated with activation of another round of duelling tariffs on $16 billion worth of each country’s goods.
GST: Collections could slow down in July, with the mop-up around Rs 90,000 crore which is well below the collections in June which stood over Rs 94,000 crore, CNBC-TV18 reported.
Kerala floods: Kerala's finance minister says the state needs at least Rs 3,000 crore for immediate relief from floods, adding that Rs 600 crore allocated so far is inadequate as total losses currently stack up at Rs 25,000 crore. He proposes cess on state's GST component to mobilise funds.
First Published: Aug 24, 2018 7:28 AM IST
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