The Indian market is set for a positive opening on Thursday as the Asian markets stepped ahead cautiously after oil rebounded from its steep sell-off. However, mixed sentiments among investors maybe seen amid signs of an economic growth slowdown.
At 07.03 AM, SGX Nifty, an early indicator of the Nifty 50's trend in India, was up 0.15 percent at 10,637, indicating a positive opening for the Indian market.
Here is what you need to know before the market opens: Asia: MSCI’s broadest index of Asia-Pacific shares outside Japan tacked on 0.2 percent and has so far managed to hold up in November after three straight monthly declines. For the year, it is on track for its worst annual performance since 2011, in part due to anxiety over a weakening outlook for corporate profits. Japan’s Nikkei rose 0.5 percent while Australian shares advanced 0.6 percent. Wall Street: The Dow Jones Industrial Average ended flat at 24,464.69, the S&P 500 gained 8.04 points, or 0.30 percent, to 2,649.93 and the Nasdaq Composite added 63.43 points, or 0.92 percent, to 6,972.25. Crude Oil Prices: US West Texas Intermediate (WTI) crude futures, were at $53.71 per barrel at 0051 GMT, 8 cents above their last settlement. Front-month Brent crude oil futures were yet to trade. Market At Close On Wednesday: Benchmark equity market ended lower for the second consecutive day on Wednesday, tracking weakness in Asian peers amid growth concerns. The 30-share benchmark Sensex ended 275 points lower, down by 0.77 percent, at 35,199. The 50-share broader Nifty was able to hold the crucial level of 10,600, ending lower by 0.53 percent, or by 56 points. Rupee: The rupee closed at 71.45, remaining flat against the dollar on Wednesday. Dollar: The US dollar has outperformed most of its peers this year with its index against a basket of major currencies up almost 5 percent. In comparison the Japanese yen is flat so far in 2018. The dollar index was last flat at 96.712. The yen was barely changed at 113.01 following two straight sessions of losses. FII & DII data: Foreign institutional investors (FIIs) sold shares worth Rs 1,652 crore, while domestic institutional investors (DIIs) bought shares worth Rs 607 crore in the Indian equity market on November 21. India's 50 percent ATM May Shut: The unviability of operations brought by recent regulatory guidelines may lead to the shut down of almost 1.13 lakh automated teller machines (ATMs) across the country by March 2019, the Confederation of ATM Industry (CATMi) said on Wednesday. These numbers include approximately one lakh off-site ATMs and a little over 15,000 white label ATMs. Currently, the country has approximately 238,000 installed ATMs, as per the latest publicly available figures. I-T Dept Notice To Flipkart: The Income Tax department on Wednesday served notices to Flipkart founders Sachin Bansal and Binny Bansal, asking them to explain the capital gains after the deal with Walmart, said sources familiar with the matter. Taxman has also served notice to 35 other investors of Flipkart. J&K Assembly Dissolved: In a dramatic development, the Jammu and Kashmir Assembly was dissolved on Wednesday night after three mainstream parties came together to stake claim to form a government that was countered by Peoples Conference leader Sajad Lone with the BJP's backing. Governor Satya Pal Malik made a terse announcement saying he was exercising powers conferred on him by the Jammu and Kashmir Constitution and dissolving the House which had two more years to go. (With inputs from agencies)
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