Indian equity indices, the BSE Sensex and the NSE Nifty 50, are likely to start Friday on a strong note, tracking positive global and domestic cues.
Here is what you need to know before the opening bell:
Asia: Shares nudged higher on Friday as moves by the United States and China to resolve a bitter trade dispute and a sharp interest rate hike in crisis-hit Turkey supported global risk appetite. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.4 percent in early trade.
US: On Wall Street, the Dow Jones Industrial Average rose 0.57 percent on Thursday, the S&P 500 gained 0.53 percent and the Nasdaq Composite added 0.75 percent.
Dollar index: The dollar’s index against a basket of six major currencies stood little changed at 94.563 after slipping 0.3 percent on Thursday, when it touched 94.428, its lowest since August 31. The dollar rose 0.08 percent against the yen to 112.01, while the euro was flat at $1.1688.
Oil prices: US crude was 0.4 percent higher at $68.88 a barrel as Hurricane Florence approached the US east coast. Brent crude also up 0.4 percent, to $78.48 per barrel.
Indian stocks: The BSE Sensex jumped nearly 305 points to close at 37,717 on Wednesday, rising 0.81 percent, while the NSE Nifty 50 settled at 11,370, climbing 82.40 points or by 0.73 percent. Stocks market were closed on Thursday on account of Ganesh Chaturthi.
Rupee: The Indian rupee, on Wednesday, ended the session at 72.19 per US dollar, much higher than the record low of 72.91 it touched during the day’s trade. The local currency ended at 72.69 on Tuesday.
FII & DII data: Foreign institutional investors (FIIs) sold shares worth Rs 1,086.39 crore while domestic institutional investors bought shares worth Rs 541.44 crore in the Indian equity market on Wednesday, as per provisional data available on the NSE.
Inflation: Retail inflation fell 3.69 percent in August, lowest in ten months, driven by cheaper food items. Retail inflation, measured by Consumer Price Inflation (CPI),had hit a nine month low at 4.17 percent in July and came in at 3.28 percent in August last year.
IIP: Industrial production growth fell to 6.6 percent in July as compared to a revised 6.9 percent in June. It had expanded 1 percent in July last year. The June IIP figure has been revised from 7 percent earlier. IIP growth for the April-July period was 5.4 percent compared to 1.7 percent in the year ago period.
Commodity derivatives: With an aim to deepen the commodity derivatives market, regulator Sebi's board is likely to approve a proposal to allow trading in this segment by foreign entities with exposure to the Indian physical commodity market. Such foreign entities may be allowed to hedge their exposures with derivatives trading in all commodities traded on Indian exchanges, barring the sensitive commodities.
(With inputs from agencies)
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First Published: IST