Indian shares are set for a weak start on Friday taking cues from its Asian peers, which dipped after the US Federal Reserve kept intact its plans to continue raising interest rates at a gradual pace, with a fourth hike for this year expected next month.
At 07.16 AM, SGX Nifty, an early indicator of the Nifty 50's trend in India, was down 0.22 percent to 10,593, indicating a weak opening for the Indian market today.
The Indian market was closed on Wednesday and Thursday on the occasion of Diwali.
Here is what you need to know before the market opens: Asia: MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.06 percent. The index was headed for a loss of 1 percent during the week, during which it managed to rise to a one-month high on Thursday. Australian stocks were flat, South Korea's KOSPI edged up 0.2 percent and Japan's Nikkei fell 0.2 percent. Wall Street: The Dow Jones Industrial Average rose 10.92 points or 0.04 percent, to 26,191.22, the S&P 500 lost 7.06 points or 0.25 percent, to 2,806.83 and the Nasdaq Composite dropped 39.87 points or 0.53 percent, to 7,530.89. Crude Oil Prices: Crude oil prices struggled near eight-month lows as investors focused on swelling global crude supply, which is increasing more quickly than many had expected. US crude futures were little changed at $60.69 per barrel after falling to $60.67 the previous day, the lowest since March 14. Market At Close On Wednesday: Indian shares made modest gains in a special "muhurat" one-hour trading session for Diwali on Wednesday, shored up by large-cap IT and financial stocks. The benchmark Sensex rose 0.7 percent to 35,237.68, while the broader Nifty climbed 0.65 percent to 10,598.4. Rupee: The rupee closed at 73 against the dollar on Tuesday. Dollar: The dollar traded at 113.995 yen after brushing a five-week high of 114.09 overnight. Thanks to the greenback's gains against the euro and yen, the dollar index against a basket of six major currencies gained 0.75 percent on Thursday. FII & DII data: Foreign institutional investors (FIIs) bought shares worth Rs 31 crore, while domestic institutional investors (DIIs) bought shares worth Rs 27 crore in the Indian equity market on November 7 during Muhurat trading. Raghuram Rajan on RBI-Govt Rift: Raghuram Rajan, the former Reserve Bank of India (RBI) governor, on Tuesday said the central bank is like a seat belt, without it you can get into an accident. Speaking exclusively to CNBC-TV18, Rajan said the central bank should be protected as a national institution and the unhealthy disagreements between the union finance ministry and the RBI should not escalate further. Arun Jaitley on Demonetisation: From two years prior to demonetisation, direct tax collections have increased 6.6 percent and 9 percent respectively. Post demonetisation, the increase by 14.6 percent (part of the year before impact of demonetisation in 2016-17) and an increase of 18 percent in the year 2017-18. P Chidambaram on Demonetisation: Describing the demonetisation exercise of the Modi government as the "most ingeniously designed official money laundering scheme", former Union finance minister P Chidambaram on Thursday said the ban did not render any currency notes "worthless" and the government "did not reap a bonanza of Rs 3-4 lakh crore."
(With inputs from agencies)
Have you signed up for Primo, our daily newsletter? It has all the stories and data on the market, business, economy and tech that you need to know.