SGX Nifty up 300 points; here's what changed for market while you were sleeping

Domestic equities are set to snap their two-day losing streak as a lesser-than-expected rise in inflation in the US has soothed the nerves and driven risk-on sentiment.

Here's breaking down the pre-market actions:

STATE OF THE MARKETS

SGX Nifty signals a positive start
Nifty futures on the Singapore Exchange traded 299 points, or 1.65 per cent, higher at 18,396, signaling that Dalal Street was headed for a positive start on Friday.

• Tech View: Nifty 50 has held above the key support level of 18000 points despite the recent correction. The index could move towards 18200 points if global markets are supportive. Option data suggests immediate trading range in between 17900 to 18300 zones.
• India VIX: Despite the risk-off mood in the market, the volatility index fell amid closure of positions in the Nifty 50 options ahead of the weekly expiry. The ‘fear gauge’ ended 2.2% lower at 15.5675 points.

Asian markets to jump
Investors are priming for a bounce across Asian equity markets Friday after slower-than-expected US inflation data indicated smaller Federal Reserve rate hikes and triggered the biggest jump for US shares in two years.

• S&P 500 futures rose 0.1% as of 9:21 a.m. in Tokyo. The S&P 500 rose 5.5%
• Nasdaq 100 futures rose 0.2%. The Nasdaq 100 rose 7.5%
• Euro Stoxx 50 futures rose 0.2%
• Japan’s Topix index rose 1.9%
• South Korea’s Kospi index rose 3%
• Australia’s S&P/ASX 200 index rose 2.7%
• Hong Kong’s Hang Seng futures rose 4.6%

Wall Street ends sharply higher
The S&P 500 and Nasdaq jumped on Thursday, racking up their biggest daily percentage gains in over 2-1/2 years as a sign of slowing inflation in October sparked speculation the Federal Reserve might become less aggressive with interest rate hikes.
S&P 500 rises 5.54%
Nasdaq jumps 7.35%
Dow gains 3.70%


FII/DII action
Foreign portfolio investors (FPIs) net bought stocks worth Rs 36 crore on Thursday, provisional data showed. DIIs continued to book profits and net sold shares to the tune of Rs 967 crore.

Stocks in F&O ban today
. Securities in the ban period under the F&O segment include companies in which the security has crossed 95% of the market-wide position limit.

Rupee: The Indian unit ended lower against the dollar on Thursday, after rising for three consecutive sessions. The currency settled at 81.8075 against the greenback, compared to 81.4350 in the previous session.

MACRO NEWS

• US consumer price inflation rose lesser than expected 7.7% on year in October. In September, the inflation was at 8.2% while in August it had risen 8.3%.

• The number of Americans filing for unemployment claims rose more than expected last week. Initial jobless claims rose to a seasonally adjusted 225,000 in the week ended November 5, from 218,000 a week ago.

Earnings Friday
548 companies are scheduled to report earnings for the quarter ended September. , , M&M, , , and Zee Entertainment are among the major ones.

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