Indian equity market looked set to open higher on Friday, tracking positive Asian shares following gains on Wall Street overnight after strong US economic growth.
At 07:20 AM, SGX Nifty, an early indicator of the Nifty 50's trend in India, rose 0.39 percent to 11,085, indicating a mildly higher opening for the Indian market today.
Here is what you need to know before the market opens:
Asia: MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.02 percent in early trade in Asia. Japan's Nikkei stock index gained 1.1 percent, putting it within sight of a 2018 high of 24,129.34 points on Jan. 23.
US: The Dow Jones Industrial Average rose 0.21 percent to 26,439.93 on Thursday, the S&P 500 gained 0.28 percent to 2,914 and the Nasdaq Composite added 0.65 percent to 8,041.97.
Dollar index: The bullish outlook for the US economy continued to lift the dollar, which rose 0.04 percent against the yen to 113.4 after touching a 2018 high of 113.46 on Thursday. The dollar index, which tracks the greenback against a basket of six major rivals, was up 0.1 percent at 95.003.
Crude oil prices: US crude was 0.03 percent higher at $72.14 a barrel. Brent crude fell 0.1 percent to $81.63 per barrel.
Market at close on Thursday: Indian market ended the September futures and options expiry day on a weak note with the NSE Nifty50 breaching 11,000 mark and the BSE Sensex closing below 36,400. The major fall though, was seen in broader markets with the Midcap Index erasing 411 points to end the session at 13-month closing low of 17,510, and Nifty Bank slipped 334 points to 25,042.
Rupee: The Indian rupee closed at 72.59 against the US dollar on Thursday, down 2 paise from Wednesday’s close of 72.61.
FII & DII data: Foreign institutional investors (FIIs) bought shares worth Rs 552.44 crore while domestic institutional investors sold shares worth Rs 186.69 crore in the Indian equity market on Thursday
Apple iPhone launch in India: Apple is going to launch new iPhones, iPhone XS and XS Max in India on Friday at 6:00 PM. The launch will happen in top 12 cities, which includes New Delhi, Mumbai, Bengaluru, Kolkata, Chennai, Hyderabad, Pune and Ahmedabad amongst others.
GST Council Meeting: High powered Goods and Services Tax (GST) Council will deliberate on a host of issues when it will meet for the 30th time on Friday in New Delhi. The meeting, which will be a come-back meet for union finance minister Arun Jaitley and is likely to consider Kerala government's request for allowing to levy a 10 percent cess to raise revenues for flood related rehabilitation works.
Unemployment in India: The rate of unemployment in India is at its highest in 20 years, and higher economic growth has had no corresponding increase in employment, a study conducted by the Centre for Sustainable Employment, Azim Premji University revealed.
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